Travelzoo (TZOO) intrinsic value & 10-year financials
Travelzoo (TZOO) has a Graham intrinsic value of $1.94 per share. At $5.03 on Oct 17, 2026, the stock trades 159% above that value. Over the last 10 fiscal years revenue shrank 2.4% a year to $91.7M, with an average return on invested capital of -145.4%.
- Graham intrinsic value
- $1.94
- Share price (Oct 17, 2026)
- $5.03
- Price vs Graham value
- 159% above
- Market cap
- $57.7M
- Revenue (FY2025)
- $91.7M
- Revenue growth (10-yr CAGR)
- -2.4%
- ROIC (10-yr avg)
- -145.4%
- Free cash flow (FY2025)
- $5.6M
TZOO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $91.7M | $4.7M | $0.41 | $5.6M | 7.5% | -34.9% |
| FY2024 | $83.9M | $13.6M | $1.06 | $20.9M | 22.0% | -158.5% |
| FY2023 | $84.5M | $12.4M | $0.83 | $10.4M | 18.4% | -201.8% |
| FY2022 | $70.6M | $6.6M | $0.53 | -$23.6M | 10.7% | -22.5% |
| FY2021 | $62.7M | $911.0K | $0.07 | -$8.1M | -2.1% | 1.5% |
| FY2020 | $53.6M | -$13.4M | -$1.18 | $46.8M | -26.3% | 46.9% |
| FY2019 | $111.4M | $4.2M | $0.35 | $10.8M | 8.5% | -1171.3% |
| FY2018 | $111.3M | $4.7M | $0.37 | $4.6M | 7.4% | 34.2% |
| FY2017 | $106.5M | $3.5M | $0.27 | $1.3M | 4.3% | 15.5% |
| FY2016 | $114.3M | $6.6M | $0.47 | $7.8M | 9.7% | 37.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TRAVELZOO is facing top-line stagnation, with revenue contracting over the decade.
TRAVELZOO has historically struggled to out-earn its cost of capital, averaging just 6.3% ROIC.
Over the decade, TRAVELZOO shows that management has aggressively returned capital to shareholders by retiring 18.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TRAVELZOO is modeled at -1.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.94 per share.