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GBTG logoGlobal Business Travel Group, Inc.(GBTG)Earnings, Financials & Key Ratios

GBTG•NYSE
$9.48
$4.96B mkt cap·45.1× P/E·Price updated May 6, 2026
SectorTechnologyIndustryApplication SoftwareSub-IndustryVertical industry SaaS applications
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$2.72B+12.2%
  • EBITDA$374M+27.6%
  • Net Income$109M+179.0%
  • EPS (Diluted)0.21+170.0%
  • Gross Margin60.08%
  • EBITDA Margin13.76%+13.8%
  • Operating Margin6.7%+41.1%
  • Net Margin4.01%+170.4%
  • ROE7.95%+165.4%
  • ROIC5.76%+39.3%
  • Debt/Equity0.89-35.3%
  • Interest Coverage2.55+565.8%
Technical→

GBTG Key Insights

Global Business Travel Group, Inc. (GBTG) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 27.9%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Shares diluted 13.2% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

GBTG Price & Volume

Global Business Travel Group, Inc. (GBTG) stock price & volume — 10-year historical chart

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GBTG Growth Metrics

Global Business Travel Group, Inc. (GBTG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years27.94%
3 Years13.66%
TTM20.67%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM295.45%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM258.38%

Return on Capital

10 Years-5.85%
5 Years-3.38%
3 Years3.15%
Last Year5.71%

GBTG Recent Earnings

Global Business Travel Group, Inc. (GBTG) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 4, 2026
EPS
$0.05
Est $0.05
+0.0%
Revenue
$840M
Est $815M
+3.1%
Q2 2026
Mar 9, 2026
EPS
$0.06
Est $0.02
+200.0%
Revenue
$792M
Est $790M
+0.3%
Q4 2025
Nov 10, 2025
EPS
$0.07
Est $0.12
-158.2%
Revenue
$674M
Est $615M
+9.6%
Q3 2025
Aug 5, 2025
EPS
$0.03
Est $0.02
+50.0%
Revenue
$631M
Est $600M
+5.2%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.05vs $0.05+0.0%
$840Mvs $815M+3.1%
Q2 2026Mar 9, 2026
$0.06vs $0.02+200.0%
$792Mvs $790M+0.3%
Q4 2025Nov 10, 2025
$0.07vs $0.12-158.2%
$674Mvs $615M+9.6%
Q3 2025Aug 5, 2025
$0.03vs $0.02+50.0%
$631Mvs $600M+5.2%
Based on last 12 quarters of dataView full earnings history →

GBTG Peer Comparison

Global Business Travel Group, Inc. (GBTG) competitors in Vertical industry SaaS applications — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
SABR logoSABRSabre CorporationDirect Competitor695.5M1.761.31-8.54%18.44%
TRVG logoTRVGtrivago N.V.Direct Competitor202.94M2.8816.3619.11%2.02%5.63%1.86%0.17
MMYT logoMMYTMakeMyTrip LimitedDirect Competitor4.22B47.0656.7025.02%5.46%8.18%4.12%0.20
TRIP logoTRIPTripadvisor, Inc.Direct Competitor1.29B11.2836.393.05%2.12%6.2%12.62%1.92
TNL logoTNLTravel + Leisure Co.Direct Competitor3.93B63.0018.314.06%5.85%13.3%
EXPE logoEXPEExpedia Group, Inc.Product Competitor32.81B248.6525.357.61%8.78%50.8%9.48%2.62
BKNG logoBKNGBooking Holdings Inc.Product Competitor129.89B167.6325.3213.39%22.23%7%
ABNB logoABNBAirbnb, Inc.Product Competitor84.96B139.7334.6710.26%22.03%30.56%5.47%0.24

Compare GBTG vs Peers

Global Business Travel Group, Inc. (GBTG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SABR

Most directly comparable listed peer for GBTG.

Scale Benchmark

vs AXP

Larger-name benchmark to compare GBTG against a more recognizable public peer.

Peer Set

Compare Top 5

vs SABR, TRVG, MMYT, TRIP

GBTG Income Statement

Global Business Travel Group, Inc. (GBTG) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue2.12B793M763M1.85B2.29B2.42B2.72B2.94B
Revenue Growth %--62.58%-3.78%142.59%23.72%5.81%12.17%20.67%
Cost of Goods Sold880M529M477M832M958M967M1.08B1.2B
COGS % of Revenue41.53%66.71%62.52%44.95%41.83%39.91%39.92%-
Gross Profit
1.24B▲ 0%
264M▼ 78.7%
286M▲ 8.3%
1.02B▲ 256.3%
1.33B▲ 30.7%
1.46B▲ 9.3%
1.63B▲ 12.2%
1.73B▲ 0%
Gross Margin %58.47%33.29%37.48%55.05%58.17%60.09%60.08%59.01%
Gross Profit Growth %--78.69%8.33%256.29%30.72%9.31%12.16%-
Operating Expenses1.03B805M846M1.22B1.34B1.34B1.45B1.65B
OpEx % of Revenue48.75%101.51%110.88%65.75%58.52%55.34%53.38%-
Selling, General & Admin541M380M414M650M699M708M732M785M
SG&A % of Revenue25.53%47.92%54.26%35.12%30.52%29.22%26.93%-
Research & Development339M277M264M388M405M442M527M566M
R&D % of Revenue16%34.93%34.6%20.96%17.69%18.24%19.39%-
Other Operating Expenses153M148M168M179M236M191M192M4M
Operating Income
206M▲ 0%
-747M▼ 462.6%
-560M▲ 25.0%
-198M▲ 64.6%
-8M▲ 96.0%
115M▲ 1537.5%
182M▲ 58.3%
85M▲ 0%
Operating Margin %9.72%-94.2%-73.39%-10.7%-0.35%4.75%6.7%2.89%
Operating Income Growth %--462.62%25.03%64.64%95.96%1537.5%58.26%-
EBITDA347M-599M-406M-16M186M293M374M297M
EBITDA Margin %16.38%-75.54%-53.21%-0.86%8.12%12.09%13.76%10.11%
EBITDA Growth %--272.62%32.22%96.06%1262.5%57.53%27.65%-8.62%
D&A (Non-Cash Add-back)141M148M154M182M194M178M192M212M
EBIT208M-732M-600M-189M-4M44M242M124M
Net Interest Income-10M-26M-52M-98M-140M-109M-87M-65M
Interest Income5M1M1M01M6M8M7M
Interest Expense15M27M53M98M141M115M95M44M
Other Income/Expense-8M-17M-101M-92M-137M-183M-31M-19M
Pretax Income
198M▲ 0%
-759M▼ 483.3%
-661M▲ 12.9%
-290M▲ 56.1%
-145M▲ 50.0%
-68M▲ 53.1%
151M▲ 322.1%
66M▲ 0%
Pretax Margin %9.34%-95.71%-86.63%-15.67%-6.33%-2.81%5.56%2.25%
Income Tax60M-145M-186M-61M-9M66M40M61M
Effective Tax Rate %30.3%19.1%28.14%21.03%6.21%-97.06%26.49%92.42%
Net Income
134M▲ 0%
-614M▼ 558.2%
0▲ 100.0%
-25M▲ 0%
-63M▼ 152.0%
-138M▼ 119.0%
109M▲ 179.0%
86M▲ 0%
Net Margin %6.32%-77.43%--1.35%-2.75%-5.7%4.01%2.93%
Net Income Growth %--558.21%100%--152%-119.05%178.99%295.45%
Net Income (Continuing)138M-619M-475M-229M-136M-134M111M88M
Discontinued Operations00000000
Minority Interest4M3M1M1.22B4M6M76M50M
EPS (Diluted)
1.04▲ 0%
-6.01▼ 677.9%
-6.89▼ 14.6%
-0.51▲ 92.6%
-0.14▲ 72.5%
-0.30▼ 114.3%
0.21▲ 170.0%
0.17▲ 0%
EPS Growth %--677.88%-14.64%92.6%72.55%-114.29%170%258.38%
EPS (Basic)1.04-6.01-6.89-4.41-0.14-0.300.21-
Diluted Shares Outstanding128.75M419.15M419.15M419.15M458.06M462.69M523.59M519.4M
Basic Shares Outstanding128.75M419.15M419.15M419.15M464.24M462.69M523.59M512.8M
Dividend Payout Ratio43.28%-------

GBTG Balance Sheet

Global Business Travel Group, Inc. (GBTG) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets1.28B869M1.03B1.23B1.36B1.28B1.57B1.76B
Cash & Short-Term Investments496M584M516M303M476M536M434M442M
Cash Only496M584M516M303M476M536M434M442M
Short-Term Investments00000000
Accounts Receivable665M144M442M838M790M635M869M1.01B
Days Sales Outstanding114.5566.28211.44165.25125.9295.66116.7118.75
Inventory00000000
Days Inventory Outstanding--------
Other Current Assets71M86M31M41M45M51M266M308M
Total Non-Current Assets1.81B1.89B2.98B2.95B2.39B2.34B3.35B3.32B
Property, Plant & Equipment225M249M275M276M282M291M374M364M
Fixed Asset Turnover9.42x3.18x2.77x6.71x8.12x8.33x7.27x8.37x
Goodwill1.02B1.03B1.36B1.19B1.21B1.2B1.67B1.66B
Intangible Assets408M348M746M636M552M480M851M821M
Long-Term Investments30M23M26M37M14M14M43M157M
Other Non-Current Assets124M241M53M24M50M89M110M396M
Total Assets
3.09B▲ 0%
2.76B▼ 10.9%
4.01B▲ 45.4%
4.18B▲ 4.3%
3.75B▼ 10.3%
3.62B▼ 3.4%
4.92B▲ 35.7%
5.08B▲ 0%
Asset Turnover0.68x0.29x0.19x0.44x0.61x0.67x0.55x0.63x
Asset Growth %--10.86%45.43%4.26%-10.31%-3.39%35.65%99.06%
Total Current Liabilities708M570M721M773M831M780M1.38B1.49B
Accounts Payable278M96M137M253M302M263M515M603M
Days Payables Outstanding115.3166.24104.83110.99115.0699.27173.25153.62
Short-Term Debt3M7M24M22M24M34M84M87M
Deferred Revenue (Current)0018M19M000280M
Other Current Liabilities122M158M337M279M304M309M713M1.41B
Current Ratio1.81x1.52x1.43x1.60x1.64x1.64x1.14x1.14x
Quick Ratio1.81x1.52x1.43x1.60x1.64x1.64x1.14x1.14x
Cash Conversion Cycle--------34.88
Total Non-Current Liabilities704M1.2B1.8B2.04B1.71B1.79B1.87B1.92B
Long-Term Debt234M617M1.02B1.22B1.35B1.36B1.36B64M
Capital Lease Obligations058M61M61M55M63M62M184M
Deferred Tax Liabilities00359M478M5M36M99M304M
Other Non-Current Liabilities470M529M356M280M293M323M353M2.81B
Total Liabilities1.41B1.77B2.52B2.81B2.54B2.57B3.25B3.42B
Total Debt237M702M1.1B1.3B1.45B1.46B1.51B151M
Net Debt-259M118M589M999M975M926M1.07B-291M
Debt / Equity0.14x0.71x0.74x0.95x1.20x1.38x0.89x0.89x
Debt / EBITDA0.68x---7.80x4.99x4.03x0.51x
Net Debt / EBITDA-0.75x---5.24x3.16x2.87x2.87x
Interest Coverage13.87x-27.11x-11.32x-1.93x-0.03x0.38x2.55x2.82x
Total Equity
1.68B▲ 0%
984M▼ 41.5%
1.49B▲ 51.8%
1.37B▼ 8.2%
1.21B▼ 11.6%
1.06B▼ 12.8%
1.68B▲ 59.3%
1.66B▲ 0%
Equity Growth %--41.5%51.83%-8.23%-11.6%-12.79%59.32%144.32%
Book Value per Share13.062.353.563.272.652.283.223.19
Total Shareholders' Equity1.68B981M1.49B152M1.21B1.05B1.61B1.61B
Common Stock1.08K0816.81M00000
Retained Earnings26M-592M-1.06B-175M-1.44B-1.57B-1.47B-1.41B
Treasury Stock00000-55M-128M0
Accumulated OCI-98M-179M-162M-7M-103M-146M-75M-84M
Minority Interest4M3M1M1.22B4M6M76M50M

GBTG Cash Flow Statement

Global Business Travel Group, Inc. (GBTG) cash flow — operating, investing & free cash flow history

Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations227M-250M-512M-394M162M272M233M233M
Operating CF Margin %10.71%-31.53%-67.1%-21.29%7.07%11.23%8.57%-
Operating CF Growth %--210.13%-104.8%23.05%141.12%67.9%-14.34%-186.69%
Net Income138M-619M-475M-229M-136M-134M111M86M
Depreciation & Amortization141M148M154M182M194M178M192M208M
Stock-Based Compensation6M3M3M39M75M77M76M90M
Deferred Taxes24M-110M-178M-65M-30M34M-15M-17M
Other Non-Cash Items-31M2M22M24M-16M49M-96M-287.33M
Working Capital Changes-51M326M-38M-345M75M68M-35M1M
Change in Receivables-39M524M-88M-445M45M118M-53M-66M
Change in Inventory00000000
Change in Payables23M-159M2M122M26M-5M-7M30M
Cash from Investing-87M-47M-27M-95M-119M-102M-206M-215M
Capital Expenditures-62M-47M-44M-94M-113M-107M-129M-145M
CapEx % of Revenue2.93%5.93%5.77%5.08%4.93%4.42%4.75%-
Acquisitions-25M020M000-104M44M
Investments--------
Other Investing0816.81M-3M-1M-6M5M27M-141M
Cash from Financing-65M384M478M292M120M-85M-128M-54M
Debt Issued (Net)-3M384M382M197M128M25M-14M-10M
Equity Issued (Net)0834.35M150M-168M0-55M-65M-72M
Dividends Paid-58M0-1M0000-5M
Share Repurchases-58M0000-55M-73M-110M
Other Financing-4M-834.35M-53M263M-8M-55M-49M33M
Net Change in Cash
76M▲ 0%
94M▲ 23.7%
-68M▼ 172.3%
-209M▼ 207.4%
173M▲ 182.8%
72M▼ 58.4%
-82M▼ 213.9%
-88M▲ 0%
Free Cash Flow
165M▲ 0%
-297M▼ 280.0%
-556M▼ 87.2%
-488M▲ 12.2%
49M▲ 110.0%
165M▲ 236.7%
104M▼ 37.0%
26M▲ 0%
FCF Margin %7.79%-37.45%-72.87%-26.36%2.14%6.81%3.83%0.89%
FCF Growth %--280%-87.21%12.23%110.04%236.73%-36.97%-84.43%
FCF per Share1.28-0.71-1.33-1.160.110.360.200.20
FCF Conversion (FCF/Net Income)1.69x0.41x-15.76x-2.57x-1.97x2.14x0.30x
Interest Paid14M047M96M142M99M041M
Taxes Paid49M0002M14M048M

GBTG Key Ratios

Global Business Travel Group, Inc. (GBTG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric202020212022202320242025TTM
Return on Equity (ROE)-46.06%--1.75%-4.88%-12.16%7.95%5.65%
Return on Invested Capital (ROIC)-44.38%-26.37%-6.67%-0.26%4.14%5.76%5.76%
Gross Margin33.29%37.48%55.05%58.17%60.09%60.08%59.01%
Net Margin-77.43%--1.35%-2.75%-5.7%4.01%2.93%
Debt / Equity0.71x0.74x0.95x1.20x1.38x0.89x0.89x
Interest Coverage-27.11x-11.32x-1.93x-0.03x0.38x2.55x2.82x
FCF Conversion0.41x-15.76x-2.57x-1.97x2.14x0.30x
Revenue Growth-62.58%-3.78%142.59%23.72%5.81%12.17%20.67%

GBTG SEC Filings & Documents

Global Business Travel Group, Inc. (GBTG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

May 4, 2026·SEC

Material company update

Mar 9, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 9, 2026·SEC

FY 2025

Mar 7, 2025·SEC

FY 2024

Mar 13, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 5, 2025·SEC

FY 2025

May 6, 2025·SEC

GBTG Frequently Asked Questions

Global Business Travel Group, Inc. (GBTG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Global Business Travel Group, Inc. (GBTG) reported $2.94B in revenue for fiscal year 2025. This represents a 39% increase from $2.12B in 2019.

Global Business Travel Group, Inc. (GBTG) grew revenue by 12.2% over the past year. This is steady growth.

Yes, Global Business Travel Group, Inc. (GBTG) is profitable, generating $86.0M in net income for fiscal year 2025 (4.0% net margin).

Dividend & Returns

Global Business Travel Group, Inc. (GBTG) has a return on equity (ROE) of 8.0%. This is below average, suggesting room for improvement.

Global Business Travel Group, Inc. (GBTG) generated $26.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More GBTG

Global Business Travel Group, Inc. (GBTG) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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