TZOO
TRAVELZOO
Next earnings Jul 21, 2026 · consensus $0.15 EPS, $25.7M rev
Last earnings +26.6% on 2026-04-23
$11.66
▲ +0.60%$11.66▼ -12.66%
over 1Y
L $5.05H $13.94
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+0.6%
1W+7.4%
1M+14.0%
3M+97.6%
YTD+68.3%
1Y-12.7%
Hold
Conviction
Horizon
Medium (3–12mo)
Street · 10 analysts
Buy
Revenue still grows and margins are 80% gross, but FY25 earnings and cash flow collapsed and equity turned negative — fairly priced, not cheap.
Revenue $91.7M · FY2025
The read
Middling fundamentals and a rich price (~70% above fair value) leave little margin of safety — a wait-and-see.
Travelzoo is a real, asset-light business: 80.3% gross margin, $91.7M revenue still growing +9.3%, and a deliberate pivot from a free newsletter to a paid Club (now $50/yr in the US from Jan 2026) that should layer in recurring, high-margin subscription revenue. Management frames FY2025 as an investment year — heavy 'member acquisition' spend to build the paid base — and the top line supports that read. At P/S 1.4 and a $127M market cap, the stock is not demanding on sales.
But the FY2025 income statement is a sharp negative. Net income fell -65.4% to $4.70M, operating income -62.7%, diluted EPS -61.3% to $0.41, and operating cash flow -73.2% to $5.66M. Crucially, gross profit was essentially flat (+0.3%) while revenue rose +9.3% — so even gross margin compressed, suggesting a richer mix of lower-margin Getaways/voucher commerce, not just discretionary opex. The company itself warns 'We cannot assure you that we will be profitable' and is funding a speculative Metaverse/META initiative it plans to monetize in 2026 with no proven payback.
Is TZOO a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $62.7M | $70.6M | $84.5M | $83.9M | $91.7M |
| Gross profit | $51.3M | $60.6M | $73.5M | $73.4M | $73.6M |
| Operating income | -$1.31M | $7.56M | $15.6M | $18.5M | $6.90M |
| Net income | $911K | $6.63M | $12.4M | $13.6M | $4.70M |
| Diluted EPS | $0.07 | $0.53 | $0.83 | $1.06 | $0.41 |
| Net margin | 1.5% | 9.4% | 14.6% | 16.2% | 5.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$110M
EV / EBITDA15.2
EV / Sales1.2
EV / FCF19.6
P / FCF21.4
PEG (trailing)—
Earnings yield3.9%
FCF yield4.7%
Quality & risk
ROIC (est.)—
Free cash flow$5.60M
Total debt—
Net cash$10.0M
Altman Z-Score3.98 safe
Piotroski F-Score5/8
Capital returns
Buyback yield10.8%
Dividend yield (est.)—
Shareholder yield10.8%
Shares Δ YoY-2.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 10-Q Quarterly report2026-05-14
Q1 FY2026 filed; tracking post-membership-fee-hike to $50
- 8-K Earnings results2026-04-23
Q1 FY2026 results released (item 2.02); set up the May 10-Q
- 8-K Officer / director change2026-04-20
Annual meeting vote results + board/officer change disclosed
- DEF 14A Proxy statement2026-03-11
FY2025 10-K: EPS -61%, negative equity -$7.5M, cash -41%
- 10-K Annual report2026-03-11
FY2025 10-K: EPS -61%, negative equity -$7.5M, cash -41%
- 8-K Earnings results2026-02-19
FY2025 results: revenue +9% but net income -65% to $4.7M
- 10-Q Quarterly report2025-11-10
Q3 FY2025 filed; routine interim report
- 8-K Earnings results2025-10-28
Q3 FY2025 earnings released; no major surprise disclosed
- 10-Q Quarterly report2025-08-12
Q2 FY2025 filed; routine interim report
Recent filings
all on EDGAR ↗10-QPeriod ending 2026-03-312026-05-14open ↗8-KPeriod ending 2026-04-232026-04-23open ↗8-KPeriod ending 2026-04-202026-04-20open ↗DEFA14AFiling2026-03-11open ↗DEF 14APeriod ending 2026-04-202026-03-11open ↗10-KPeriod ending 2025-12-312026-03-11open ↗4Period ending 2026-02-202026-02-24open ↗8-KPeriod ending 2026-02-192026-02-19open ↗SCHEDULE 13G/AFiling2026-02-13open ↗4Period ending 2025-12-222025-12-29open ↗144Filing2025-12-23open ↗4Period ending 2025-12-112025-12-15open ↗
Frequently asked
- Is TRAVELZOO (TZOO) a buy?
- TZOO currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Revenue still grows and margins are 80% gross, but FY25 earnings and cash flow collapsed and equity turned negative — fairly priced, not cheap.
- What is TZOO's fair value?
- A Modified-Graham model based on TZOO's SEC fundamentals estimates a fair value of about $3.49. It is an estimate from reported earnings, not a price target.
- Is TZOO overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, TZOO currently appears overvalued relative to its SEC-grounded earnings power.
- What is TRAVELZOO's quality score?
- TZOO scores 55.531015288317604/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001133311, latest 10-Q filed 2026-05-14) · EODHD · Proprietary analysis · as of 6/30/2026, 11:40:52 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 30, 2026, 7:40 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
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