Tearsheet

Travelzoo (TZOO)


Market Price (12/23/2025): $7.07 | Market Cap: $77.7 Mil
Sector: Communication Services | Industry: Interactive Media & Services

Travelzoo (TZOO)


Market Price (12/23/2025): $7.07
Market Cap: $77.7 Mil
Sector: Communication Services
Industry: Interactive Media & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.0%, FCF Yield is 15%
Weak multi-year price returns
2Y Excs Rtn is -74%, 3Y Excs Rtn is -8.5%
Key risks
TZOO key risks include [1] a failure to execute its strategic transition to a paid membership model and [2] intense competition from larger, Show more.
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
  
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -47%
  
3 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Travel & Leisure Tech, and Online Marketplaces.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.0%, FCF Yield is 15%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -47%
3 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Travel & Leisure Tech, and Online Marketplaces.
4 Weak multi-year price returns
2Y Excs Rtn is -74%, 3Y Excs Rtn is -8.5%
5 Key risks
TZOO key risks include [1] a failure to execute its strategic transition to a paid membership model and [2] intense competition from larger, Show more.

Valuation, Metrics & Events

TZOO Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Here are the key points explaining Travelzoo's (TZOO) stock movement of -28% from approximately August 31, 2025, to December 23, 2025:



1. Significant Miss in Q3 2025 Earnings. Travelzoo reported a substantial miss on both earnings per share (EPS) and revenue for the third quarter of 2025. The company posted an EPS of $0.01, falling significantly short of analysts' consensus estimates of $0.14, and quarterly revenue of $22.20 million, which was below expectations of $22.92 million.

2. Deteriorating Operating Margins and Concerns over Membership Model Economics. Despite a 10% year-over-year revenue increase in Q3 2025, Travelzoo experienced a notable decrease in operating margins and operating income, which dropped to $0.5 million in Q3 2025 from $4.0 million a year ago. This decline was largely attributed to aggressive investments in its new membership model, with some analyses suggesting weak economics and higher customer acquisition costs for this new business approach.

Show more

Stock Movement Drivers

Fundamental Drivers

The -31.7% change in TZOO stock from 9/22/2025 to 12/22/2025 was primarily driven by a -29.3% change in the company's Net Income Margin (%).
922202512222025Change
Stock Price ($)10.337.06-31.66%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)87.8289.922.39%
Net Income Margin (%)12.49%8.83%-29.35%
P/E Multiple10.499.77-6.82%
Shares Outstanding (Mil)11.1410.991.36%
Cumulative Contribution-31.67%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025
ReturnCorrelation
TZOO-31.7% 
Market (SPY)2.7%24.7%
Sector (XLC)-1.6%33.4%

Fundamental Drivers

The -42.5% change in TZOO stock from 6/23/2025 to 12/22/2025 was primarily driven by a -39.9% change in the company's Net Income Margin (%).
623202512222025Change
Stock Price ($)12.277.06-42.46%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)85.0689.925.72%
Net Income Margin (%)14.69%8.83%-39.92%
P/E Multiple11.469.77-14.71%
Shares Outstanding (Mil)11.6710.995.85%
Cumulative Contribution-42.66%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025
ReturnCorrelation
TZOO-42.5% 
Market (SPY)14.4%27.8%
Sector (XLC)12.7%31.8%

Fundamental Drivers

The -64.6% change in TZOO stock from 12/22/2024 to 12/22/2025 was primarily driven by a -47.1% change in the company's Net Income Margin (%).
1222202412222025Change
Stock Price ($)19.977.06-64.65%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)84.3789.926.58%
Net Income Margin (%)16.67%8.83%-47.06%
P/E Multiple17.299.77-43.46%
Shares Outstanding (Mil)12.1810.999.77%
Cumulative Contribution-64.98%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025
ReturnCorrelation
TZOO-64.6% 
Market (SPY)16.9%36.0%
Sector (XLC)20.5%37.3%

Fundamental Drivers

The 62.9% change in TZOO stock from 12/23/2022 to 12/22/2025 was primarily driven by a 545.2% change in the company's Net Income Margin (%).
1223202212222025Change
Stock Price ($)4.337.0662.86%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)65.6589.9236.97%
Net Income Margin (%)1.37%8.83%545.22%
P/E Multiple60.299.77-83.79%
Shares Outstanding (Mil)12.4910.9912.03%
Cumulative Contribution60.50%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025
ReturnCorrelation
TZOO-25.8% 
Market (SPY)47.7%30.7%
Sector (XLC)63.9%30.0%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
TZOO Return-12%-0%-53%114%109%-64%-33%
Peers Return1%-0%-41%55%7%24%22%
S&P 500 Return16%27%-19%24%23%17%113%

Monthly Win Rates [3]
TZOO Win Rate50%42%42%58%50%25% 
Peers Win Rate52%46%37%56%54%44% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
TZOO Max Drawdown-71%-8%-56%0%-23%-67% 
Peers Max Drawdown-58%-22%-49%-21%-28%-22% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: BKNG, EXPE, TRIP, GRPN. See TZOO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique KeyEventTZOOS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-77.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven346.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven684 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-73.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven280.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven310 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-63.9%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven177.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven192 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-90.4%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven936.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven673 days1,480 days

Compare to GAIA, FLNT, RENT, LEE, CHAI

In The Past

Travelzoo's stock fell -77.6% during the 2022 Inflation Shock from a high on 4/5/2021. A -77.6% loss requires a 346.2% gain to breakeven.

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About Travelzoo (TZOO)

Travelzoo, an Internet media company, provides travel, entertainment, and local deals from travel and entertainment companies, and local businesses in the Asia Pacific, Europe, and North America. Its publications and products include Travelzoo Website; Travelzoo iPhone and Android apps; Travelzoo Top 20 email newsletter; and Newsflash email alert service. The company also operates the Travelzoo Network, a network of third-party Websites that list travel deals published by the company; and Local Deals and Getaway listings, which allow its members to purchase vouchers for deals from local businesses, such as spas, hotels, and restaurants. It serves airlines, hotels, cruise lines, vacations packagers, tour operators, destinations, car rental companies, travel agents, theater and performing arts groups, restaurants, spas, and activity companies. Travelzoo Inc. was founded in 1998 and is headquartered in New York, New York.

AI Analysis | Feedback

Here are 1-3 brief analogies for Travelzoo (TZOO):

  • Like The Wirecutter for travel deals, focusing on expertly vetted and recommended travel offers.
  • Think of it as Kayak or Expedia, but with human travel experts hand-picking only the very best deals rather than just being a search engine.
  • A global, digital 'Consumer Reports' specifically for hand-picked travel deals, recommending only the top offers from various providers.

AI Analysis | Feedback

  • Curated Travel & Lifestyle Deals: Travelzoo identifies, negotiates, and publishes exclusive offers for hotels, flights, cruises, vacation packages, and local experiences, often sold as vouchers.
  • Weekly Top 20® Newsletter: A renowned email publication featuring the week's best travel, entertainment, and local deals, directly delivered to subscribers.
  • Online Deal Discovery Platform: Their website and mobile app serve as a digital marketplace where users can browse, search, and purchase various travel, entertainment, and lifestyle deals.

AI Analysis | Feedback

Travelzoo (symbol: TZOO) primarily sells its advertising and deal promotion services to other businesses (B2B) within the travel, leisure, and entertainment industries. They act as a media platform connecting these businesses with a large audience of potential customers.

Based on a review of Travelzoo's public filings, including its latest Form 10-K, no single customer or group of affiliated customers accounts for 10% or more of the company's revenue. Therefore, Travelzoo does not disclose individual "major customers" by name as per SEC reporting requirements, indicating a diversified customer base.

Instead, Travelzoo's customer base consists of a broad array of businesses that pay to feature their deals to Travelzoo's audience. These customers can be broadly categorized as:

  1. Hotels and Resorts

    This category includes individual hotels, major international hotel chains (e.g., Marriott International, Inc. (MAR), Hilton Worldwide Holdings Inc. (HLT)), and various resort properties globally. They leverage Travelzoo to promote room rates, package deals, and special offers to attract travelers.

  2. Airlines and Cruise Lines

    This segment encompasses major global airlines (e.g., Delta Air Lines, Inc. (DAL), United Airlines Holdings, Inc. (UAL), British Airways (part of International Consolidated Airlines Group S.A. (IAG.L or ICAGY ADR)), and various cruise operators (e.g., Carnival Corporation & plc (CCL), Royal Caribbean Group (RCL)). These customers use Travelzoo to advertise flight deals and cruise packages.

  3. Tour Operators, Travel Agencies, and Local Entertainment Providers

    This diverse category includes companies that package travel experiences, online travel agencies (OTAs), destination marketing organizations, and local businesses such as spas, restaurants, and entertainment venues. They partner with Travelzoo to promote package holidays, guided tours, and local deals to attract consumers.

AI Analysis | Feedback

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AI Analysis | Feedback

Holger Bartel, Ph.D. Global Chief Executive Officer

Holger Bartel holds a Ph.D. in Economics and an MBA in finance and accounting from the University of St. Gallen, Switzerland. From 1992 to 1994, he was a research fellow at Harvard Business School. He served as an Engagement Manager at McKinsey & Company, a global management consulting firm, from 1995 to 1998. He has held various leadership positions at Travelzoo since September 1999, including Executive Vice President, Head of Strategy, and served multiple terms as Chief Executive Officer, taking on the Global CEO role in January 2016. He is the brother of Travelzoo founder, Ralph Bartel.

Lisa Su Global Chief Financial Officer

Lisa Su has been with Travelzoo since October 2000, serving in various accounting roles, including Controller. Prior to May 2011, she was the Controller of YuMe from June 2009. She holds an MBA in finance from California State University, East Bay, and a bachelor's degree in economics-accounting from Claremont McKenna College. [cite: 7, 19 from prior search]

Ralph Bartel, Ph.D. Founder, Chairman & Chief Talent Officer

Ralph Bartel founded Travelzoo in May 1998. He served as CEO and CFO of Travelzoo Inc. from May 1998 to October 2008, and as its President from May 1998 to September 2008. From 1996 to 1997, he worked as a managing assistant at Gruner + Jahr AG, the magazine division of Bertelsmann AG. He holds a Ph.D. in Communications from the University of Mainz, Germany, a Ph.D. in Economics and an MBA in Finance and Accounting from the University of St. Gallen, Switzerland, and a Master's degree in Journalism from the University of Eichstaett, Germany. [cite: 10 from prior search]

Christina Sindoni Ciocca General Counsel, Head of Global Functions, Chairman, and Corporate Secretary

Christina Sindoni Ciocca has served as Chairman, General Counsel, Head of Global Functions, and Corporate Secretary of Travelzoo since December 2022. She was previously General Counsel and Head of Global Functions from April 2022 and General Counsel since June 2019. Before joining Travelzoo, Ms. Ciocca was an attorney at Sidley Austin LLP, specializing in mergers & acquisitions, from September 2014 to March 2018. She earned her Juris Doctor degree from the University of Notre Dame Law School and a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania. [cite: 6 from prior search, 10]

James Clarke General Manager, UK

James Clarke was appointed as Travelzoo's General Manager, UK, effective December 2018. Prior to joining Travelzoo, he spent 12 years at Fleetway, a London-based travel company. During his time at Fleetway, he led various functions including E-commerce, operations, and business development, eventually becoming CEO of the company in 2015. He holds a bachelor's degree in Tourism Management from Solent University, Southampton. [cite: 9 from prior search, 11 from prior search, 13 from prior search]

AI Analysis | Feedback

The key risks to Travelzoo's business are:
  1. Execution Risk of Paid Membership Model: Travelzoo is transitioning from an advertising-based revenue model to a paid subscription travel club. There is a significant risk that this strategy may not achieve the expected conversion rates, fail to demonstrate sufficient exclusive value to paying members, or result in higher customer acquisition costs (CAC) than anticipated, which could negatively impact profitability and overall revenue.
  2. Intense Competition: The company faces substantial competition from larger online travel agencies (OTAs) and tech giants like Expedia and Google. These competitors often have greater financial resources, broader market reach, and potentially more attractive deal offerings or targeted marketing capabilities, which could reduce Travelzoo's appeal and market share.
  3. Vulnerability to Macroeconomic Factors and Travel Demand Fluctuations: Travelzoo's business is highly susceptible to broader macroeconomic conditions, including recessions, geopolitical instability, and changes in consumer discretionary spending. Factors such as a weakened U.S. dollar or fears of a global economic slowdown can significantly reduce overall demand for travel services, directly impacting Travelzoo's bookings and membership growth.

AI Analysis | Feedback

The rapid development and adoption of advanced AI-powered travel planning tools that can dynamically search, compare, and recommend highly personalized travel deals across a multitude of providers in real-time, potentially rendering human-curated deal lists and traditional aggregation models like Travelzoo's less appealing or necessary for consumers.

AI Analysis | Feedback

Travelzoo (TZOO) operates primarily in the travel and leisure sector, offering curated deals for hotels, flights, vacation packages, cruises, and local experiences. The addressable markets for its main products and services can be sized as follows:

Leisure Travel and Online Travel Market

  • Global Leisure Travel Market: This broad market, which encompasses activities such as visiting new places and staying in hotels and resorts, was valued at approximately USD 1.2 trillion in 2023 and is projected to reach USD 6.2 trillion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 18.3% from 2024 to 2033. Other estimates place the global leisure travel market at USD 1.46 trillion in 2023, with a projection to reach USD 5.81 trillion by the end of 2030, exhibiting a CAGR of 21.8% from 2024 to 2030. Another report estimates the market size to grow by USD 5.50 trillion from 2024-2028, at a CAGR of 18.52%.

  • North America Online Travel Market: This market, which includes online travel agencies and direct supplier channels for bookings, stands at approximately USD 258.03 billion in 2025 and is expected to grow to USD 411.80 billion by 2030, with a CAGR of 9.80%.

  • Global Online Travel Agencies (OTA) Market: The global online travel agency market is valued between $305 billion and $861 billion.

Local Deals and Entertainment Market

  • Global Group Buying Market: This market, which includes online and offline group purchasing for products and services like local deals, is projected to be approximately USD 19.153 billion in 2025 and is expected to reach nearly USD 37.029 billion by 2034, advancing at a CAGR of 7.6% during this period.

Metaverse (for Travelzoo META)

  • U.S. Metaverse Market: The U.S. Metaverse market was estimated at approximately USD 34.2 billion of revenue in 2023 and is anticipated to grow rapidly at a CAGR of 44% over the next five years. This market accounted for 37% of the global market share in 2023.

AI Analysis | Feedback

Travelzoo (NASDAQ: TZOO) is strategically positioning itself for future revenue growth over the next 2-3 years, primarily driven by a shift towards a paid membership model and several complementary initiatives.

Here are the key expected drivers of future revenue growth:

  1. Growth in Paid Membership Fees and Member Acquisition: Travelzoo is actively transitioning from an advertising-driven model to one focused on paid memberships. The company introduced a membership fee plan in 2024, aiming to convert non-paying "Legacy Members" into "Club Members" and acquire new paying subscribers. Travelzoo expects membership fees to contribute approximately 25% of its revenues in 2026, a significant increase from 16% in Q3 2025. This revenue is recognized ratably over the 12-month subscription period, indicating a growing and more predictable revenue stream over time. The company is investing in marketing to drive new member acquisition, which has shown immediate payback.
  2. Conversion of Legacy Members to Club Members: A substantial portion of Travelzoo's existing member base consists of "Legacy Members" who joined before the introduction of membership fees. A key growth driver involves incentivizing these members to upgrade to paid Club Memberships, which offer exclusive deals and benefits. This strategic move is already resulting in many Legacy Members upgrading.
  3. Expansion and Growth of Jack's Flight Club: Jack's Flight Club, in which Travelzoo holds a 60% ownership, is a membership subscription service for flight deals. This segment has consistently shown strong revenue growth, with a 12% increase year-over-year in Q3 2025 and an 8% rise in premium subscribers. Its continued growth and potential expansion, such as its entry into Canada in early 2024, are expected to contribute to overall revenue.
  4. Launch of New Products and Services, including Travelzoo META: Travelzoo is exploring and developing new initiatives to diversify its revenue streams. Notably, the company is developing Travelzoo META, a Metaverse-based subscription service under its New Initiatives segment. This push into digital innovation and new product launches, while currently a small contributor, represents a potential area for future growth.
  5. Leveraging Brand and Supplier Relationships for Exclusive Offers: Travelzoo plans to continue leveraging its global reach, trusted brand, and strong relationships with thousands of top travel suppliers to negotiate more exclusive "Club Offers" for its Club Members. This ability to curate irresistible and exclusive travel, entertainment, and lifestyle deals is a core value proposition that drives member acquisition and retention, indirectly supporting revenue growth.

AI Analysis | Feedback

Capital Allocation Decisions (2020-2025)

Share Repurchases

  • Travelzoo repurchased approximately $1.642 million in shares during 2022.
  • In 2023, the company executed share repurchases totaling $16.781 million.
  • During 2024, Travelzoo repurchased more than 10% of its shares at a total cost of $20.7 million. Over the first nine months of 2025, an additional $13 million worth of shares, representing about 7% of outstanding shares, were repurchased.
  • In October 2024, the board authorized a new share purchase program for up to 1 million shares, to be utilized after the completion of a program announced in April 2024.

Share Issuance

  • As of November 2025, Travelzoo had 11,139,000 shares outstanding. The number of outstanding shares decreased from 11,836,000 at December 31, 2024, to 10,932,337 at September 30, 2025, primarily due to share repurchase activities.

Outbound Investments

  • In 2020, Travelzoo acquired a 60% stake in Jack's Flight Club, which introduced a subscription-based business model.
  • Net cash used in investing activities amounted to $177,000 in 2024, an increase from $39,000 in 2023.

Capital Expenditures

  • Travelzoo's capital expenditures averaged $235.2 thousand annually for fiscal years 2020 through 2024.
  • Annual capital expenditures were $253 thousand in 2020, $29 thousand in 2021, $462 thousand in 2022, $255 thousand in 2023, and $177 thousand in 2024.
  • For the latest twelve months (TTM), capital expenditures were $97 thousand.
  • Expected capital expenditures are projected at $1 million annually for each of the years from 2025 to 2029.

Better Bets than Travelzoo (TZOO)

Trade Ideas

Select ideas related to TZOO. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper11302025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
1.0%1.0%-1.4%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025TMUST-Mobile USMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-6.1%-6.1%-6.4%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025ZZillowMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-3.5%-3.5%-5.1%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE11072025IRDMIridium CommunicationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
8.7%8.7%-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE10032025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-27.7%-27.7%-29.8%

Recent Active Movers

More From Trefis

Peer Comparisons for Travelzoo

Peers to compare with:

Financials

TZOOBKNGEXPETRIPGRPNMedian
NameTravelzooBooking Expedia Tripadvi.Groupon  
Mkt Price7.065,406.99289.2914.1817.4617.46
Mkt Cap0.1175.135.81.60.71.6
Rev LTM9026,03914,3701,8914961,891
Op Inc LTM118,9811,97714510145
FCF LTM128,3152,99825960259
FCF 3Y Avg118,2202,268157-18157
CFO LTM128,6403,77434575345
CFO 3Y Avg118,5863,0562291229

Growth & Margins

TZOOBKNGEXPETRIPGRPNMedian
NameTravelzooBooking Expedia Tripadvi.Groupon  
Rev Chg LTM6.6%13.0%7.3%4.2%-0.8%6.6%
Rev Chg 3Y Avg11.5%17.8%8.3%11.6%-9.2%11.5%
Rev Chg Q10.4%12.7%8.7%3.9%7.3%8.7%
QoQ Delta Rev Chg LTM2.4%4.1%2.5%1.1%1.7%2.4%
Op Mgn LTM12.5%34.5%13.8%7.7%1.9%12.5%
Op Mgn 3Y Avg17.3%31.4%12.2%6.8%-1.4%12.2%
QoQ Delta Op Mgn LTM-4.3%1.6%1.6%-0.0%1.4%1.4%
CFO/Rev LTM13.4%33.2%26.3%18.2%15.1%18.2%
CFO/Rev 3Y Avg13.1%37.2%22.6%12.5%0.5%13.1%
FCF/Rev LTM13.3%31.9%20.9%13.7%12.1%13.7%
FCF/Rev 3Y Avg12.8%35.6%16.7%8.6%-3.1%12.8%

Valuation

TZOOBKNGEXPETRIPGRPNMedian
NameTravelzooBooking Expedia Tripadvi.Groupon  
Mkt Cap0.1175.135.81.60.71.6
P/S0.96.72.50.91.41.4
P/EBIT6.920.818.711.3-8.511.3
P/E9.834.725.820.8-5.020.8
P/CFO6.420.39.54.89.59.5
Total Yield10.2%3.6%4.3%4.8%-20.0%4.3%
Dividend Yield0.0%0.7%0.4%0.0%0.0%0.0%
FCF Yield 3Y Avg9.5%6.0%11.4%7.8%-5.3%7.8%
D/E0.10.10.20.80.50.2
Net D/E-0.00.00.00.00.20.0

Returns

TZOOBKNGEXPETRIPGRPNMedian
NameTravelzooBooking Expedia Tripadvi.Groupon  
1M Rtn1.4%13.6%16.9%-2.3%7.0%7.0%
3M Rtn-31.7%-0.7%29.6%-24.2%-23.4%-23.4%
6M Rtn-42.5%1.7%75.1%8.6%-52.7%1.7%
12M Rtn-64.6%7.9%57.8%2.8%67.9%7.9%
3Y Rtn62.9%178.7%237.4%-20.6%140.2%140.2%
1M Excs Rtn1.3%13.0%18.0%0.9%6.7%6.7%
3M Excs Rtn-35.2%-5.0%27.7%-26.0%-25.1%-25.1%
6M Excs Rtn-57.8%-13.9%58.7%-7.3%-64.5%-13.9%
12M Excs Rtn-82.7%-6.9%48.3%-7.6%44.2%-6.9%
3Y Excs Rtn-8.5%103.0%146.7%-98.5%81.3%81.3%

Financials

Segment Financials

Assets by Segment
$ Mil20242023202220212020
Travelzoo North America9798117  
Travelzoo Europe231928  
Jack's Flight Club191918  
New Initiatives40   
Elimination-87-69-64  
Total5567100  


Price Behavior

Price Behavior
Market Price$7.06 
Market Cap ($ Bil)0.1 
First Trading Date08/28/2002 
Distance from 52W High-70.4% 
   50 Days200 Days
DMA Price$7.92$11.02
DMA Trenddowndown
Distance from DMA-10.9%-36.0%
 3M1YR
Volatility50.1%67.4%
Downside Capture142.62197.14
Upside Capture-60.5364.70
Correlation (SPY)25.3%35.9%
TZOO Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.841.221.221.481.241.11
Up Beta1.302.642.513.071.070.95
Down Beta-0.260.711.031.141.291.10
Up Capture115%-33%-15%-9%56%153%
Bmk +ve Days13263974142427
Stock +ve Days8182961119367
Down Capture274%190%170%201%140%105%
Bmk -ve Days7162452107323
Stock -ve Days11233363128378

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of TZOO With Other Asset Classes (Last 1Y)
 TZOOSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-66.8%17.3%14.7%67.3%6.8%-0.5%-16.6%
Annualized Volatility67.1%18.8%19.7%19.3%15.2%17.6%35.4%
Sharpe Ratio-1.370.720.572.540.23-0.18-0.25
Correlation With Other Assets 37.6%36.3%4.8%9.5%28.4%20.9%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of TZOO With Other Asset Classes (Last 5Y)
 TZOOSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-7.2%12.9%15.0%18.9%11.8%5.1%35.8%
Annualized Volatility64.2%20.9%17.1%15.5%18.7%18.9%48.9%
Sharpe Ratio0.150.530.710.980.510.180.63
Correlation With Other Assets 30.5%29.4%4.9%11.5%23.2%16.2%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of TZOO With Other Asset Classes (Last 10Y)
 TZOOSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-0.8%13.0%14.9%14.9%6.7%5.5%69.9%
Annualized Volatility66.0%22.6%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio0.280.530.710.840.300.230.90
Correlation With Other Assets 32.4%32.8%1.6%15.0%28.9%11.5%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date11282025
Short Interest: Shares Quantity670,837
Short Interest: % Change Since 111520259.2%
Average Daily Volume101,251
Days-to-Cover Short Interest6.63
Basic Shares Quantity10,987,000
Short % of Basic Shares6.1%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/2025-2.2%-10.6%-14.9%
7/23/2025-8.4%-25.7%-29.2%
2/25/2025-17.1%-9.7%-15.0%
10/23/20242.9%18.6%30.9%
7/25/20247.5%9.0%27.8%
2/28/20245.9%-0.4%14.1%
10/24/20238.0%7.7%43.2%
7/27/20235.7%7.2%-1.7%
...
SUMMARY STATS   
# Positive1177
# Negative71111
Median Positive6.6%7.7%29.0%
Median Negative-8.4%-10.5%-12.0%
Max Positive15.1%18.6%43.2%
Max Negative-17.1%-25.7%-53.8%

SEC Filings

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Report DateFiling DateFiling
93020251110202510-Q 9/30/2025
6302025812202510-Q 6/30/2025
3312025513202510-Q 3/31/2025
12312024319202510-K 12/31/2024
93020241108202410-Q 9/30/2024
6302024809202410-Q 6/30/2024
3312024515202410-Q 3/31/2024
12312023322202410-K 12/31/2023
93020231108202310-Q 9/30/2023
6302023814202310-Q 6/30/2023
3312023512202310-Q 3/31/2023
12312022331202310-K 12/31/2022
93020221114202210-Q 9/30/2022
6302022810202210-Q 6/30/2022
3312022512202210-Q 3/31/2022
12312021331202210-K 12/31/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0AZZURRO CAPITAL INC 11132025Sell7.535,00037,65028,446,051Form
1AZZURRO CAPITAL INC 11062025Sell7.7510,00077,50029,315,894Form