Global Business Travel Group, Inc. (GBTG) 10-Year Financial Performance & Capital Metrics

GBTG • • Industrial / General

TechnologyApplication SoftwareArtificial Intelligence & AnalyticsAI Analytics Platforms

AboutGlobal Business Travel Group, Inc. provides business-to-business (B2B) travel platform. The company's platform offers a suite of technology-enabled solutions to business travelers and corporate clients, travel content suppliers, and third-party travel agencies. Its platform manages travel, expenses, and meetings and events for companies. The company has built marketplace in B2B travel to deliver unrivalled choice, value, and experiences. Global Business Travel Group, Inc. is based in New York, New York.Show more

Revenue $2.42B +5.8%
EBITDA $293M +57.5%
Net Income -$138M -119.0%
EPS (Diluted) -0.30 -114.3%
Gross Margin 60.09% +3.3%
EBITDA Margin 12.09% +48.9%
Operating Margin 4.75% +1458.8%
Net Margin -5.7% -107.0%
ROE -12.16% -149.4%
ROIC 4.14% +1671.1%
Debt/Equity 1.38 +15.5%
Interest Coverage 1.00 +1862.5%

Technical Analysis

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y2.72%

3Y46.99%

TTM5.71%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM105.92%

EPS CAGR

10Y-

5Y-

3Y-

TTM110.96%

ROCE

10Y Avg-7.77%

5Y Avg-11.06%

3Y Avg-0.72%

Latest3.99%

Peer Comparison

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LYFTLyft, Inc.	7.54B	18.88	342.65	31.39%	2.4%	26.3%	10.16%	1.64
DDOGDatadog, Inc.	39.33B	120.86	236.98	26.12%	3.32%	3.1%	2.13%	0.68
PEGAPegasystems Inc.	9B	53.00	96.36	4.51%	16.05%	46.57%	3.76%	0.94
SAPSAP SE	274.66B	235.84	89.00	9.51%	19.41%	13.94%	1.61%	0.23
TYLTyler Technologies, Inc.	19.2B	446.15	73.74	9.53%	13.72%	8.75%	3.15%	0.19
FICOFair Isaac Corporation	37.49B	1581.19	59.58	15.91%	32.75%		2.05%
DSGXThe Descartes Systems Group Inc.	7.62B	88.57	54.01	13.63%	22.1%	10%	2.79%	0.01
MANHManhattan Associates, Inc.	10.58B	175.57	50.02	12.23%	20.25%	69.86%	2.71%	0.16

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.12B	793M	763M	1.85B	2.29B	2.42B
Revenue Growth %	-	-0.63%	-0.04%	1.43%	0.24%	0.06%
Cost of Goods Sold+	880M	529M	477M	832M	958M	967M
COGS % of Revenue	0.42%	0.67%	0.63%	0.45%	0.42%	0.4%
Gross Profit+	1.24B	264M	286M	1.02B	1.33B	1.46B
Gross Margin %	0.58%	0.33%	0.37%	0.55%	0.58%	0.6%
Gross Profit Growth %	-	-0.79%	0.08%	2.56%	0.31%	0.09%
Operating Expenses+	1.03B	805M	846M	1.22B	1.34B	1.34B
OpEx % of Revenue	0.49%	1.02%	1.11%	0.66%	0.59%	0.55%
Selling, General & Admin	541M	380M	414M	650M	699M	708M
SG&A % of Revenue	0.26%	0.48%	0.54%	0.35%	0.31%	0.29%
Research & Development	339M	277M	264M	388M	405M	442M
R&D % of Revenue	0.16%	0.35%	0.35%	0.21%	0.18%	0.18%
Other Operating Expenses	153M	148M	168M	179M	236M	191M
Operating Income+	206M	-747M	-560M	-198M	-8M	115M
Operating Margin %	0.1%	-0.94%	-0.73%	-0.11%	-0%	0.05%
Operating Income Growth %	-	-4.63%	0.25%	0.65%	0.96%	15.38%
EBITDA+	347M	-599M	-406M	-16M	186M	293M
EBITDA Margin %	0.16%	-0.76%	-0.53%	-0.01%	0.08%	0.12%
EBITDA Growth %	-	-2.73%	0.32%	0.96%	12.63%	0.58%
D&A (Non-Cash Add-back)	141M	148M	154M	182M	194M	178M
EBIT	208M	-732M	-600M	-189M	-4M	44M
Net Interest Income+	-10M	-26M	-52M	-98M	-140M	-109M
Interest Income	5M	1M	1M	0	1M	6M
Interest Expense	15M	27M	53M	98M	141M	115M
Other Income/Expense	-8M	-17M	-101M	-92M	-137M	-183M
Pretax Income+	198M	-759M	-661M	-290M	-145M	-68M
Pretax Margin %	0.09%	-0.96%	-0.87%	-0.16%	-0.06%	-0.03%
Income Tax+	60M	-145M	-186M	-61M	-9M	66M
Effective Tax Rate %	0.68%	0.81%	-	0.09%	0.43%	2.03%
Net Income+	134M	-614M	0	-25M	-63M	-138M
Net Margin %	0.06%	-0.77%	-	-0.01%	-0.03%	-0.06%
Net Income Growth %	-	-5.58%	1%	-	-1.52%	-1.19%
Net Income (Continuing)	138M	-619M	-475M	-229M	-136M	-134M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	4M	3M	1M	1.22B	4M	6M
EPS (Diluted)+	1.04	-6.01	-6.89	-0.51	-0.14	-0.30
EPS Growth %	-	-6.78%	-0.15%	0.93%	0.73%	-1.14%
EPS (Basic)	1.04	-6.01	-6.89	-4.41	-0.14	-0.30
Diluted Shares Outstanding	128.75M	102.1M	67.75M	445.72M	458.06M	462.69M
Basic Shares Outstanding	128.75M	102.1M	67.75M	51.27M	464.24M	462.69M
Dividend Payout Ratio	0.43%	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.28B	869M	1.03B	1.23B	1.36B	1.28B
Cash & Short-Term Investments	496M	584M	516M	303M	476M	536M
Cash Only	496M	584M	516M	303M	476M	536M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	665M	144M	442M	838M	790M	635M
Days Sales Outstanding	114.55	66.28	211.44	165.25	125.92	95.66
Inventory	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-
Other Current Assets	71M	86M	31M	41M	45M	51M
Total Non-Current Assets+	1.81B	1.89B	2.98B	2.95B	2.39B	2.34B
Property, Plant & Equipment	225M	249M	275M	276M	282M	291M
Fixed Asset Turnover	9.42x	3.18x	2.77x	6.71x	8.12x	8.33x
Goodwill	1.02B	1.03B	1.36B	1.19B	1.21B	1.2B
Intangible Assets	408M	348M	746M	636M	552M	480M
Long-Term Investments	30M	23M	26M	37M	14M	14M
Other Non-Current Assets	124M	241M	53M	24M	50M	89M
Total Assets+	3.09B	2.76B	4.01B	4.18B	3.75B	3.62B
Asset Turnover	0.68x	0.29x	0.19x	0.44x	0.61x	0.67x
Asset Growth %	-	-0.11%	0.45%	0.04%	-0.1%	-0.03%
Total Current Liabilities+	708M	570M	721M	773M	831M	780M
Accounts Payable	278M	96M	137M	253M	302M	263M
Days Payables Outstanding	115.31	66.24	104.83	110.99	115.06	99.27
Short-Term Debt	3M	7M	24M	22M	24M	34M
Deferred Revenue (Current)	0	0	1000K	1000K	0	0
Other Current Liabilities	122M	158M	337M	279M	304M	309M
Current Ratio	1.81x	1.52x	1.43x	1.60x	1.64x	1.64x
Quick Ratio	1.81x	1.52x	1.43x	1.60x	1.64x	1.64x
Cash Conversion Cycle	-	-	-	-	-	-
Total Non-Current Liabilities+	704M	1.2B	1.8B	2.04B	1.71B	1.79B
Long-Term Debt	234M	617M	1.02B	1.22B	1.35B	1.36B
Capital Lease Obligations	0	58M	61M	61M	55M	63M
Deferred Tax Liabilities	0	0	359M	478M	5M	36M
Other Non-Current Liabilities	470M	529M	356M	280M	293M	323M
Total Liabilities	1.41B	1.77B	2.52B	2.81B	2.54B	2.57B
Total Debt+	237M	702M	1.1B	1.3B	1.45B	1.46B
Net Debt	-259M	118M	589M	999M	975M	926M
Debt / Equity	0.14x	0.71x	0.74x	0.95x	1.20x	1.38x
Debt / EBITDA	0.68x	-	-	-	7.80x	4.99x
Net Debt / EBITDA	-0.75x	-	-	-	5.24x	3.16x
Interest Coverage	13.73x	-27.67x	-10.57x	-2.02x	-0.06x	1.00x
Total Equity+	1.68B	984M	1.49B	1.37B	1.21B	1.06B
Equity Growth %	-	-0.41%	0.52%	-0.08%	-0.12%	-0.13%
Book Value per Share	13.06	9.64	22.05	3.08	2.65	2.28
Total Shareholders' Equity	1.68B	981M	1.49B	152M	1.21B	1.05B
Common Stock	1.08K	0	816.81M	0	0	0
Retained Earnings	26M	-592M	-1.06B	-175M	-1.44B	-1.57B
Treasury Stock	0	0	0	0	0	-55M
Accumulated OCI	-98M	-179M	-162M	-7M	-103M	-146M
Minority Interest	4M	3M	1M	1.22B	4M	6M

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	227M	-250M	-512M	-394M	162M	272M
Operating CF Margin %	0.11%	-0.32%	-0.67%	-0.21%	0.07%	0.11%
Operating CF Growth %	-	-2.1%	-1.05%	0.23%	1.41%	0.68%
Net Income	138M	-619M	-475M	-229M	-136M	-134M
Depreciation & Amortization	141M	148M	154M	182M	194M	178M
Stock-Based Compensation	6M	3M	3M	39M	75M	77M
Deferred Taxes	24M	-110M	-178M	-65M	-30M	34M
Other Non-Cash Items	-31M	2M	22M	24M	-16M	49M
Working Capital Changes	-51M	326M	-38M	-345M	75M	68M
Change in Receivables	-39M	524M	-88M	-445M	45M	118M
Change in Inventory	0	0	0	0	0	0
Change in Payables	23M	-159M	2M	122M	26M	-5M
Cash from Investing+	-87M	-47M	-27M	-95M	-119M	-102M
Capital Expenditures	-62M	-47M	-44M	-94M	-113M	-107M
CapEx % of Revenue	0.03%	0.06%	0.06%	0.05%	0.05%	0.04%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	816.81M	-3M	-1M	-6M	5M
Cash from Financing+	-65M	384M	478M	292M	120M	-85M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	-58M	0	-1M	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	-4M	-834.35M	-53M	263M	-8M	-55M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	165M	-297M	-556M	-488M	49M	165M
FCF Margin %	0.08%	-0.37%	-0.73%	-0.26%	0.02%	0.07%
FCF Growth %	-	-2.8%	-0.87%	0.12%	1.1%	2.37%
FCF per Share	1.28	-2.91	-8.21	-1.09	0.11	0.36
FCF Conversion (FCF/Net Income)	1.69x	0.41x	-	15.76x	-2.57x	-1.97x
Interest Paid	14M	0	47M	96M	142M	99M
Taxes Paid	49M	0	0	0	2M	14M

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.97%	-46.06%	-	-1.75%	-4.88%	-12.16%
Return on Invested Capital (ROIC)	10.86%	-44.38%	-26.37%	-6.67%	-0.26%	4.14%
Gross Margin	58.47%	33.29%	37.48%	55.05%	58.17%	60.09%
Net Margin	6.32%	-77.43%	-	-1.35%	-2.75%	-5.7%
Debt / Equity	0.14x	0.71x	0.74x	0.95x	1.20x	1.38x
Interest Coverage	13.73x	-27.67x	-10.57x	-2.02x	-0.06x	1.00x
FCF Conversion	1.69x	0.41x	-	15.76x	-2.57x	-1.97x
Revenue Growth	-	-62.58%	-3.78%	142.59%	23.72%	5.81%

Revenue by Segment

	2022	2023	2024
Product and Service, Other	407M	463M	491M
Product and Service, Other Growth	-	13.76%	6.05%

Revenue by Geography

	2022	2023	2024
UNITED KINGDOM	687M	833M	1.3B
UNITED KINGDOM Growth	-	21.25%	56.66%
Countries Other Than United States and United Kingdom	492M	624M	639M
Countries Other Than United States and United Kingdom Growth	-	26.83%	2.40%
UNITED STATES	672M	833M	479M
UNITED STATES Growth	-	23.96%	-42.50%

Frequently Asked Questions

Growth & Financials

Global Business Travel Group, Inc. (GBTG) reported $2.52B in revenue for fiscal year 2024. This represents a 19% increase from $2.12B in 2019.

Global Business Travel Group, Inc. (GBTG) grew revenue by 5.8% over the past year. This is steady growth.

Yes, Global Business Travel Group, Inc. (GBTG) is profitable, generating $10.0M in net income for fiscal year 2024 (-5.7% net margin).

Dividend & Returns

Global Business Travel Group, Inc. (GBTG) has a return on equity (ROE) of -12.2%. Negative ROE indicates the company is unprofitable.

Global Business Travel Group, Inc. (GBTG) generated $124.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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