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Travelzoo (TZOO) stock

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NASDAQ: TZOO Nasdaq Internet Services & Infrastructure Next results ~February 18, 2027

B Fundamentals grade

Travelzoo is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$13

Forward price-to-earnings vs peers

Base case. Range ~$9.6–$22. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Travelzoo valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling3 purchases and 9 sales by directors and officers, last 12 monthsInsider trades
  • Funds28 adding, 54 cuttingOf 17 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Travelzoo files

Where Travelzoo stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $92m, up 4.9% on a year earlier, slower than the 9.2% growth a quarter earlier. Free-cash-flow margin fell to 3.5% from 20.1% a year earlier. Operating margin narrowed to 1.9% from 16.8%. The diluted share count is down 10.8% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 2 financial-health checks. Our cash-flow model value is $16.48 a share, against a share price of $5.09.

Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 18, 2027 (estimated)

Travelzoo's trailing-twelve-month revenue grew 4.9% year on year, with a free-cash-flow margin of 3.5%. Where it stands out: change in share count of -10.8% ranks 2 of 26 internet services & infrastructure companies we cover.

Current signal Gross margin compressing: TTM gross margin fell to 76.3%, down 7.0pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 10.8% in a year, so each share owns more of the business.

Things to watch

  • Margins narrowing. Operating margin is down 14.9 points on a year ago.
  • High earnings multiple. The shares trade at 120 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 60% and a beta of 1.1 against the S&P 500.
  • Growth easing. The growth rate is 4.2 points lower than a quarter earlier.
  • Gross margin slipping. Gross margin is down 7.0 points on a year ago.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
-$0.20 against an average estimate of -$0.12: missed by 66.7%
Revenue
$23m, down 2.9% on a year earlier
Share reaction
-4.1% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
October 27, 2026; average EPS estimate $0.06

Travelzoo's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week+1.6%
  • 1 month-0.2%
  • This year-27.0%
  • 1 year-38.2%
  • 5 years-48.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$92.2M
Operating margin
1.9%
Net margin
0.5%
EPS (TTM, diluted)
$0.04

Growth

Revenue growth
+4.9%
Change in growth rate
−4.2 pts
Share count change
−10.8%

Cash

Free cash flow (TTM)
$3.2M
FCF margin
3.5%
Stock pay % of revenue
1.6%

Earnings

Last results
October 27, 2026
Next results (est.)
February 18, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Travelzoo valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Travelzoo as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.18 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$13 ~$9.6–$22 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$13 ~$9.6–$22 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Travelzoo with Internet Services & Infrastructure in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$9.40$6.45$9.83$10.70$9.44$9.42$4.45$9.53$19.95$7.12$5.20
Market value$132m$83m$123m$129m$107m$122m$56m$143m$256m$82m$56m
+ Net debt (− = net cash)−$27m−$23m−$18m−$19m−$59m−$44m−$19m−$16m−$17m−$10m−$7m
Enterprise value$105m$61m$105m$110m$48m$79m$37m$127m$239m$72m$49m
Multiples
Price / sales 1.2x0.8x1.1x1.2x2.0x2.0x0.8x1.7x3.1x0.9x0.6x
Price / earnings 19.8x23.6x26.4x31.0x—134.3x8.4x11.5x18.9x17.4x119.5x
Price / free cash flow 16.8x62.2x26.9x12.0x2.3x——13.7x12.3x14.6x17.5x
EV / EBITDA 8.2x9.2x10.4x6.0x—155.0x3.8x7.3x12.3x9.9x25.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

63 /100

Moderate moat

How hard Travelzoo's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 31.8% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 86.0%, moving by 3.9 percentage points (standard deviation) across 9 years.

  • Durability 0 / 20

    Operating margin has been a median 4.3%; its worst year was -7.4%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 7 of 9 years, at a median 5.3% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 8.7% over five years; stock-based pay has been a median 1.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (68 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.14 −135% $94m +2%
Next $0.75 +619% $105m +11%

Next year's EPS estimate has moved +0.6% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +6.1% on 90 days ago. In the last 30 days, 0 analysts raised Travelzoo's forecast and 4 cut it.

Consensus EPS forecast Travelzoo, last 90 days
−$0.50 $0.00 $0.50 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.14 Current fiscal year, 60 days ago: −$0.14 Current fiscal year, 30 days ago: −$0.14 Current fiscal year, 7 days ago: −$0.14 Current fiscal year, Now: −$0.14 −$0.14 Next fiscal year, 90 days ago: $0.75 Next fiscal year, 60 days ago: $0.80 Next fiscal year, 30 days ago: $0.80 Next fiscal year, 7 days ago: $0.80 Next fiscal year, Now: $0.75 $0.75

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.14$0.75
60 days ago −$0.14$0.80
30 days ago −$0.14$0.80
7 days ago −$0.14$0.80
Now −$0.14$0.75

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.12 −$0.20 −66.7%
Jun 2026 $0.12 −$0.21 −275.0%
Mar 2026 $0.15 $0.23 +56.8%
Dec 2025 $0.10 $0.00 −100.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Oct 2026
Buy4100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026134
  2. Sep 2026134
  3. Aug 2026134

Counts of recommendations published by analysts covering Travelzoo, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.1%
of tradable shares
Days to cover
5.96
at average volume
Short interest, 1 month
+3%
to October 15, 2026
Held by institutions
35%
of shares
Held by insiders
36.3%
of shares
Employees
249
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −38.2%

$8.42 on October 31, 2025 to $5.20

ThenNowEffect
Revenue (last 12 months) $88m $92m +4.9%
Net margin 12.5% 0.5% −95.9%
P/E multiple 9.3x 119.5x +1182.9%
Share count 12m 11m +12.1%

Biggest factor: net margin.

Last 3 years −34.0%

$7.88 on November 3, 2023 to $5.20

ThenNowEffect
Revenue (last 12 months) $77m $92m +19.4%
Net margin 12.4% 0.5% −95.9%
P/E multiple 11.6x 119.5x +931.1%
Share count 14m 11m +29.7%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TZOO−0%−53%+114%+109%−64%−27%
Industry peers (median)+13%−81%+44%−17%−10%−30%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TZOO42%42%58%50%25%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TZOO−50%−60%−51%−33%−72%−60%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 85% from May 14, 2019 to March 23, 2020. Getting back needed a 575% gain, reached on December 17, 2024, 1730 days after the low.

Price behaviour

52-week range
$4.91 – $12.11
From 52-week high
−57.1%
vs 50-day average
−7.6%
vs 200-day average
−30.1%
Volatility (1 year)
60%
Beta vs S&P 500
1.13

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±13.7%
After a week
5 up, 6 down
typical move ±19.7%
After a month
6 up, 5 down
typical move ±24.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −4.1% +0.9% — —
July 28, 2026 −26.9% −1.3% −26.5% −33.6%
April 23, 2026 +29.5% +0.4% +30.7% +33.9%
February 19, 2026 −4.8% +0.5% +16.4% +9.9%
October 28, 2025 −19.0% +0.3% −26.0% −29.6%
July 23, 2025 −18.7% +0.9% −25.9% −30.5%
April 29, 2025 +10.8% +0.7% +11.3% +7.0%
February 25, 2025 −8.5% −0.4% −12.8% −15.7%
October 23, 2024 +16.2% −0.7% +34.0% +47.8%
July 25, 2024 +15.4% +0.6% +17.0% +37.2%
April 24, 2024 −8.9% −0.4% −8.9% −16.4%
February 28, 2024 −1.6% +0.2% −7.5% +6.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Travelzoo in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Travelzoo
$80M $85M $90M $95M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $81.9M Revenue (TTM), FY23 Q4: $84.5M Revenue (TTM), FY24 Q1: $84.9M Revenue (TTM), FY24 Q2: $84.9M Revenue (TTM), FY24 Q3: $84.4M Revenue (TTM), FY24 Q4: $83.9M Revenue (TTM), FY25 Q1: $85.1M Revenue (TTM), FY25 Q2: $87.8M Revenue (TTM), FY25 Q3: $89.9M Revenue (TTM), FY25 Q4: $91.7M Revenue (TTM), FY26 Q1: $92.9M Revenue (TTM), FY26 Q2: $92.2M $92.2M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $81.9M
FY23 Q4 $84.5M
FY24 Q1 $84.9M
FY24 Q2 $84.9M
FY24 Q3 $84.4M
FY24 Q4 $83.9M
FY25 Q1 $85.1M
FY25 Q2 $87.8M
FY25 Q3 $89.9M
FY25 Q4 $91.7M
FY26 Q1 $92.9M
FY26 Q2 $92.2M
Revenue growth, TTM YoY Travelzoo
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 24.8% Revenue growth, TTM YoY, FY23 Q4: 19.7% Revenue growth, TTM YoY, FY24 Q1: 15.1% Revenue growth, TTM YoY, FY24 Q2: 10.0% Revenue growth, TTM YoY, FY24 Q3: 3.0% Revenue growth, TTM YoY, FY24 Q4: -0.7% Revenue growth, TTM YoY, FY25 Q1: 0.2% Revenue growth, TTM YoY, FY25 Q2: 3.5% Revenue growth, TTM YoY, FY25 Q3: 6.6% Revenue growth, TTM YoY, FY25 Q4: 9.3% Revenue growth, TTM YoY, FY26 Q1: 9.2% Revenue growth, TTM YoY, FY26 Q2: 4.9% 4.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 24.8%
FY23 Q4 19.7%
FY24 Q1 15.1%
FY24 Q2 10.0%
FY24 Q3 3.0%
FY24 Q4 -0.7%
FY25 Q1 0.2%
FY25 Q2 3.5%
FY25 Q3 6.6%
FY25 Q4 9.3%
FY26 Q1 9.2%
FY26 Q2 4.9%
Operating margin (TTM) Travelzoo
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 17.9% Operating margin (TTM), FY23 Q4: 18.4% Operating margin (TTM), FY24 Q1: 19.4% Operating margin (TTM), FY24 Q2: 20.3% Operating margin (TTM), FY24 Q3: 21.5% Operating margin (TTM), FY24 Q4: 22.0% Operating margin (TTM), FY25 Q1: 19.6% Operating margin (TTM), FY25 Q2: 16.8% Operating margin (TTM), FY25 Q3: 12.5% Operating margin (TTM), FY25 Q4: 7.5% Operating margin (TTM), FY26 Q1: 7.0% Operating margin (TTM), FY26 Q2: 1.9% 1.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 17.9%
FY23 Q4 18.4%
FY24 Q1 19.4%
FY24 Q2 20.3%
FY24 Q3 21.5%
FY24 Q4 22.0%
FY25 Q1 19.6%
FY25 Q2 16.8%
FY25 Q3 12.5%
FY25 Q4 7.5%
FY26 Q1 7.0%
FY26 Q2 1.9%
FCF margin (TTM) Travelzoo
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 8.0% FCF margin (TTM), FY23 Q4: 12.3% FCF margin (TTM), FY24 Q1: 17.2% FCF margin (TTM), FY24 Q2: 15.0% FCF margin (TTM), FY24 Q3: 17.2% FCF margin (TTM), FY24 Q4: 24.9% FCF margin (TTM), FY25 Q1: 23.0% FCF margin (TTM), FY25 Q2: 20.1% FCF margin (TTM), FY25 Q3: 13.3% FCF margin (TTM), FY25 Q4: 6.1% FCF margin (TTM), FY26 Q1: 6.7% FCF margin (TTM), FY26 Q2: 3.5% 3.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 8.0%
FY23 Q4 12.3%
FY24 Q1 17.2%
FY24 Q2 15.0%
FY24 Q3 17.2%
FY24 Q4 24.9%
FY25 Q1 23.0%
FY25 Q2 20.1%
FY25 Q3 13.3%
FY25 Q4 6.1%
FY26 Q1 6.7%
FY26 Q2 3.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Travelzoo took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $91.7M
  2. Other income $474,000 · 0.5%
  3. Cost of revenue $18.1M · 19.7%
  4. Gross profit $73.6M · 80.3%
  5. Research and development $2.6M · 2.8%
  6. Selling, general and admin $64.2M · 70.0%
  7. Operating income $6.9M · 7.5%
  8. Income tax $2.7M · 2.9%
  9. Net income $4.7M · 5.1%

Shares of revenue. Source: Travelzoo's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 114 107 111 105 54 63 71 84 84 92 92
Gross profit 100 94 99 93 43 51 61 74 73 74 70
EBITDA 13 7 10 18 −12 1 10 17 19 7 2
Operating income 10 5 8 17 −14 −1 8 16 18 7 2
Net income 7 4 5 4 −13 1 7 12 14 5 0
Diluted EPS $0.47 $0.27 $0.37 $0.35 −$1.18 $0.07 $0.53 $0.83 $1.06 $0.41 $0.04
Growth (year on year)
Revenue — −6.8% +4.5% −5.7% −48.9% +17.0% +12.6% +19.7% −0.7% +9.3% +4.9%
EBITDA — −47.9% +52.1% +82.4% −164.1% — — +79.2% +11.1% −62.8% −87.2%
Operating income — −55.4% +81.3% +106.9% −182.6% — — +106.1% +18.8% −62.7% −88.3%
Net income — −46.8% +32.0% −10.9% −423.1% — — +86.4% +9.7% −65.4% −95.7%
Diluted EPS — −42.6% +37.0% −5.4% −437.1% — — +56.6% +27.7% −61.3% −95.2%
Margins
Gross margin 87.9% 87.9% 89.0% 89.1% 80.3% 81.8% 85.8% 87.1% 87.5% 80.3% 76.3%
EBITDA margin 11.1% 6.2% 9.0% 17.5% −21.9% 0.8% 13.8% 20.7% 23.1% 7.9% 2.1%
Operating margin 8.9% 4.3% 7.4% 16.2% −26.3% −2.1% 10.7% 18.4% 22.0% 7.5% 1.9%
Net margin 5.8% 3.3% 4.2% 4.0% −25.0% 1.5% 9.4% 14.6% 16.2% 5.1% 0.5%
Free-cash-flow margin 6.8% 1.3% 4.1% 10.3% 87.2% −12.9% −33.4% 12.3% 24.9% 6.1% 3.5%
Cash flow
Cash from operations 9 2 5 11 47 −8 −23 11 21 6 3
Capital spending 1 1 1 0 0 0 0 0 0 0 0
Free cash flow 8 1 5 11 47 −8 −24 10 21 6 3
Stock-based pay 1 1 1 1 6 4 2 2 2 1 1
Free cash flow after stock pay 7 0 4 10 41 −12 −25 9 19 4 2
Balance sheet
Cash 27 23 18 19 63 44 19 16 17 10 7
Total debt 0 0 0 0 4 0 0 0 0 0 0
Net debt (negative = net cash) −27 −23 −18 −19 −59 −44 −19 −16 −17 −10 −7
Diluted shares 14m 13m 13m 12m 11m 13m 13m 15m 13m 11m 11m
Returned to shareholders
Buybacks 10 10 5 11 1 5 2 17 19 13 7
Total returned 10 10 5 11 1 5 2 17 19 13 7

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 2 checks passed · June 30, 2026
What it owns · $48m
Short-term assets $25mLonger-term assets $23m
What it owes, and who funded it · $54m
Short-term liabilities $40mLonger-term liabilities $15mShareholders' equity $-12m
  • Short-term assets cover short-term liabilities $25m of assets due within a year against $40m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $25m short-term assets against $15m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Travelzoo's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$6.8M
Returned to shareholders
210%
of free cash flow
Buybacks, last 3 fiscal years
$48.7M
Diluted share count
−10.8%
year over year
Total shareholder yield
12.7%
dividends 0.0% + buybacks 12.7% of market value
R&D spending
2.7%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in internet services & infrastructure
Last 12 months unless stated TZOO BTBT DHX BGIN CIFR WULF Median
Revenue, last 12 months $92m $123m $125m $67m $146m $165m $242m
Revenue growth, last 12 months 4.9% 23.6% −7.3% −77.7% −29.2% 14.6% 8.3%
Revenue growth, 3-year average 6.1% 221.2% −7.1% — — 59.9% 7.6%
Revenue growth, latest quarter −2.9% 25.2% −2.1% — −62.8% −6.0% 5.5%
Gross margin 76.3% 68.0% 83.8% −112.2% 50.5% 40.2% 49.5%
Operating margin 1.9% −225.3% 4.9% −261.3% −387.2% −250.4% −56.0%
Operating margin, 3-year average 13.0% −89.0% 1.8% — −155.8% −122.9% −25.3%
Net margin 0.5% −237.2% 1.0% −262.6% −742.3% <−999% −55.8%
Cash from operations / revenue 3.5% −225.7% 21.3% −247.6% −231.1% −169.0% −10.4%
Free-cash-flow margin 3.5% −619.3% 16.2% −253.8% <−999% <−999% −25.9%
Free-cash-flow margin, 3-year average 12.9% −276.5% 8.8% — −823.7% −637.2% −17.4%
Stock pay / revenue 1.6% 14.8% 3.5% 0.8% 74.7% 118.8% 11.9%
Change in share count −10.8% 84.8% −5.1% 1.2% 12.4% 12.0% 5.2%

Median of all 34 companies we cover in internet services & infrastructure. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

34 internet services & infrastructure companies
Measure Company Peer median Rank
Revenue growth Growth 4.9% 10.1% 21 of 34
Change in growth rate Growth -4.2pp -0.6pp 20 of 34
Gross margin Profitability 76.3% 61.5% 4 of 16
Operating margin Profitability 1.9% -49.3% 9 of 33
Net margin Profitability 0.5% -47.1% 11 of 34
Free-cash-flow margin Cash generation 3.5% 16.2% 12 of 17
Stock pay as % of revenue Cash generation 1.6% 12.4% 6 of 32
Change in share count Balance sheet -10.8% 5.2% 2 of 26
Days sales outstanding Balance sheet 58 days 48 days 9 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Reportable Segments $91.7M 99.9% ▲ 9.3%
Travelzoo North America $59M 64.3% ▲ 7.3%
Travelzoo Europe $27.1M 29.6% ▲ 12.5%
JFC Travel Group Co. $5.5M 6.0% ▲ 17.0%
New Initiatives $80,000 0.1% ▼ 25.2%
Geography
Region Revenue Share YoY
United States $55.3M 60.3% ▲ 11.8%
United Kingdom $19.9M 21.7% ▼ 3.5%
Geographical Locations Excluding United States and United Kingdom $16.5M 18.0% ▲ 19.5%

From Travelzoo's 10-K filed March 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$42.7M
Institutions reporting
70
Shares held vs prior quarter
▼ 4.4%
Positions opened / closed
12 / 27

Top buyers and sellers, Q2 2026: 28 institutions bought and 54 sold ; the biggest buyer was Truffle Hound Capital, LLC (+244K shares) and the biggest seller Blackrock, Inc (−237K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Renaissance Technologies LLC $6.3M 541K 14.8% ▼ 4.1%
Acadian Asset Management LLC $5.5M 471K 12.9% 0.0%
Vanguard Capital Management LLC $3.3M 282K 7.7% ▼ 12.5%
Truffle Hound Capital, LLC $2.9M 244K 6.7% New
Dimensional Fund Advisors LP $2.3M 197K 5.4% ▼ 1.7%
Blackrock, Inc. $1.9M 167K 4.6% ▼ 58.7%
Marshall Wace, LLP $1.9M 165K 4.5% New
Goldman Sachs Group Inc $1.9M 160K 4.4% ▼ 2.1%
Hennion & Walsh Asset Management, Inc. $1.7M 148K 4.0% ▼ 1.3%
AQR Capital Management LLC $1.6M 140K 3.8% ▲ 12.1%
Jane Street Group, LLC $1.1M 97K 2.6% New
Morgan Stanley $1M 90K 2.5% ▲ 32.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Travelzoo's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.1M 3 trades by 1 insider, last 12 months Insider sales History → $929,850 9 trades by 3 insiders · 0% under pre-set plans
Net ▲ $147,150 net buying
Insider Date Trade Shares Price Value
Bartel Holger Global Chief Executive Officer February 24, 2026 Buy 40,000 $5.43 $217,200
Bartel Holger Global Chief Executive Officer February 23, 2026 Buy 100,000 $5.49 $549,000
Bartel Holger Global Chief Executive Officer February 20, 2026 Buy 60,000 $5.18 $310,800
Ralph Bartel 2005 Trust 10% owner December 26, 2025 Sell 40,000 $6.97 $278,800
Ralph Bartel 2005 Trust 10% owner December 23, 2025 Sell 20,000 $7.01 $140,200
Ralph Bartel 2005 Trust 10% owner December 22, 2025 Sell 22,500 $7.08 $159,300
Azzurro Capital Inc 10% owner December 15, 2025 Sell 15,000 $7.56 $113,400
Azzurro Capital Inc 10% owner December 11, 2025 Sell 5,000 $7.09 $35,450
Azzurro Capital Inc 10% owner December 1, 2025 Sell 7,500 $7.00 $52,500
Ralph Bartel 2005 Trust 10% owner November 26, 2025 Sell 5,000 $7.01 $35,050
Bartel Ralph 10% owner November 12, 2025 Sell 5,000 $7.53 $37,650
Azzurro Capital Inc 10% owner November 4, 2025 Sell 10,000 $7.75 $77,500

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 18, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 23, 2026
  • February 19, 2026
  • October 28, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Travelzoo was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Travelzoo in brief

What does Travelzoo do?
Travelzoo is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.
What is Travelzoo's stock ticker?
Travelzoo trades under the ticker TZOO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Travelzoo's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Travelzoo reported revenue of $92.2M, 4.9% higher than a year earlier, according to its SEC filings.
What is Travelzoo's free cash flow?
Travelzoo's free-cash-flow margin is 3.5% of revenue over the trailing twelve months, ranking 12 of the 17 internet services & infrastructure companies we cover.
Who are Travelzoo's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Renaissance Technologies LLC, Acadian Asset Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Travelzoo buying back stock, and does it pay a dividend?
Travelzoo spent $6.8M on share repurchases over the trailing twelve months, and its diluted share count fell 10.8% over the year.
What is Travelzoo's market cap?
On November 2, 2026, Travelzoo's market capitalisation was about $56.3M, with a price-to-earnings ratio of 119.5 and net debt of -$6.8M. Market figures come from third-party market data and may be delayed.
Who are Travelzoo's competitors?
In our Internet Services & Infrastructure peer group, the companies closest to Travelzoo are Bit Digital, Inc, DHI Group, Inc., Bgin Blockchain Ltd, Cipher Digital Inc. and Terawulf Inc. The side-by-side comparison below sets their revenue, margins and growth against Travelzoo's.
Are insiders buying or selling Travelzoo stock?
Over the last 12 months, Travelzoo's directors and officers reported 3 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is Travelzoo's next earnings date?
Around February 18, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Travelzoo announces its own schedule.