Global Business Travel Group, Inc. (GBTG) Financial Ratios
7 years of historical data (2019–2025) · Technology · Software - Application
EV/EBITDA
↓
16.06
-8% vs avg
5yr avg: 17.51
30Y Low13.6·High21.1
P/FCF
↓
47.45
+14% vs avg
5yr avg: 41.61
30Y Low26.0·High60.3
P/B Ratio
↓
2.93
+7% vs avg
5yr avg: 2.74
30Y Low2.1·High4.4
ROE
↑
8.0%
↓+394% vs avg
5yr avg: -2.7%
30Y Low-46%·High8%
Debt/EBITDA
↓
4.03
↓-28% vs avg
5yr avg: 5.61
30Y Low0.7·High7.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GBTG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Global Business Travel Group, Inc. trades at 44.9x earnings, 23% above its 5-year average of 36.4x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 27.2x, the stock trades at a premium of 65%. On a free-cash-flow basis, the stock trades at 47.5x P/FCF, 14% above the 5-year average of 41.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.9B | $4.0B | $4.3B | $3.0B | $2.8B | $4.1B | $4.4B | — |
| Enterprise Value | $6.0B | $5.1B | $5.2B | $3.9B | $3.8B | $4.7B | $4.5B | — |
| P/E Ratio → | 44.90 | 36.43 | — | — | — | — | — | — |
| P/S Ratio | 1.82 | 1.47 | 1.77 | 1.29 | 1.53 | 5.42 | 5.50 | — |
| P/B Ratio | 2.93 | 2.38 | 4.06 | 2.44 | 2.06 | 2.77 | 4.43 | — |
| P/FCF | 47.45 | 38.51 | 26.02 | 60.30 | — | — | — | — |
| P/OCF | 21.18 | 17.19 | 15.79 | 18.24 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
GBTG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Global Business Travel Group, Inc.'s enterprise value stands at 16.1x EBITDA, 8% below its 5-year average of 17.5x. The Technology sector median is 17.3x, placing the stock at a 7% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.87 | 2.15 | 1.72 | 2.07 | 6.19 | 5.65 | — |
| EV / EBITDA | 16.06 | 13.58 | 17.82 | 21.13 | — | — | — | — |
| EV / EBIT | 33.01 | 20.98 | 118.63 | — | — | — | — | — |
| EV / FCF | — | 48.82 | 31.64 | 80.19 | — | — | — | — |
GBTG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Global Business Travel Group, Inc. earns an operating margin of 6.7%. Operating margins have expanded from -0.3% to 6.7% over the past 3 years, signaling improving operational efficiency. ROE of 8.0% is modest. ROIC of 5.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.1% | 60.1% | 60.1% | 58.2% | 55.1% | 37.5% | 33.3% | 58.5% |
| Operating Margin | 6.7% | 6.7% | 4.7% | -0.3% | -10.7% | -73.4% | -94.2% | 9.7% |
| Net Profit Margin | 4.0% | 4.0% | -5.7% | -2.8% | -1.4% | — | -77.4% | 6.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 8.0% | 8.0% | -12.2% | -4.9% | -1.7% | — | -46.1% | 8.0% |
| ROA | 2.6% | 2.6% | -3.7% | -1.6% | -0.6% | — | -21.0% | 4.3% |
| ROIC | 5.8% | 5.8% | 4.1% | -0.3% | -6.7% | -26.4% | -44.4% | 10.9% |
| ROCE | 5.7% | 5.7% | 4.0% | -0.3% | -5.9% | -20.4% | -32.7% | 8.6% |
GBTG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Global Business Travel Group, Inc. carries a Debt/EBITDA ratio of 4.0x, which is highly leveraged (39% above the sector average of 2.9x). Net debt stands at $1.1B ($1.5B total debt minus $434M cash). Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.89 | 0.89 | 1.38 | 1.20 | 0.95 | 0.74 | 0.71 | 0.14 |
| Debt / EBITDA | 4.03 | 4.03 | 4.99 | 7.80 | — | — | — | 0.68 |
| Net Debt / Equity | — | 0.64 | 0.88 | 0.80 | 0.73 | 0.39 | 0.12 | -0.15 |
| Net Debt / EBITDA | 2.87 | 2.87 | 3.16 | 5.24 | — | — | — | -0.75 |
| Debt / FCF | — | 10.31 | 5.61 | 19.90 | — | — | — | -1.57 |
| Interest Coverage | 2.55 | 2.55 | 0.38 | -0.03 | -1.93 | -11.32 | -27.11 | 13.87 |
GBTG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.14x means Global Business Travel Group, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.64x to 1.14x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.14 | 1.14 | 1.64 | 1.64 | 1.60 | 1.43 | 1.52 | 1.81 |
| Quick Ratio | 1.14 | 1.14 | 1.64 | 1.64 | 1.60 | 1.43 | 1.52 | 1.81 |
| Cash Ratio | 0.31 | 0.31 | 0.69 | 0.57 | 0.39 | 0.72 | 1.02 | 0.70 |
| Asset Turnover | — | 0.55 | 0.67 | 0.61 | 0.44 | 0.19 | 0.29 | 0.68 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 116.70 | 95.66 | 125.92 | 165.25 | 211.44 | 66.28 | 114.55 |
GBTG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Global Business Travel Group, Inc. returns 1.5% to shareholders annually primarily through share buybacks. The earnings yield of 2.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 0.0% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 43.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 2.7% | — | — | — | — | — | — |
| FCF Yield | 2.1% | 2.6% | 3.8% | 1.7% | — | — | — | — |
| Buyback Yield | 1.5% | 1.8% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 1.5% | 1.8% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $524M | $463M | $458M | $419M | $419M | $419M | $129M |
Peer Comparison
Compare GBTG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GBTGYou | $5B | 44.9 | 16.1 | 47.5 | 60.1% | 6.7% | 8.0% | 5.8% | 4.0 |
 SABR | $723M | 1.4 | 9.6 | — | 56.4% | 12.7% | — | 9.7% | 9.8 |
 TRVG | $225M | 18.1 | 17.1 | 59.5 | 97.3% | 0.3% | 5.5% | 1.0% | 6.4 |
 MMYT | $4B | 59.6 | 28.3 | 25.5 | 72.0% | 12.3% | 8.2% | 9.2% | 1.6 |
 TRIP | $1B | 36.0 | 8.6 | 7.8 | 62.0% | 4.2% | 5.0% | 7.4% | 7.2 |
 TNL | $4B | 18.9 | 10.4 | 7.8 | 27.2% | 17.8% | — | 13.0% | 5.8 |
 EXPE | $33B | 25.1 | 11.3 | 10.5 | 84.1% | 13.4% | 48.4% | 40.2% | 2.3 |
 BKNG | $130B | 25.4 | 13.2 | 14.4 | 100.0% | 34.5% | — | — | 1.9 |
 ABNB | $85B | 34.7 | 31.6 | 18.3 | 83.0% | 20.8% | 30.2% | 51.0% | 0.8 |
 NCLH | $8B | 19.7 | 8.2 | — | 32.0% | 16.2% | 23.3% | 7.5% | 5.3 |
 RCL | $78B | 18.4 | 15.3 | 62.8 | 46.8% | 27.4% | 47.5% | 12.2% | 3.5 |
| Technology Median | — | 27.2 | 17.3 | 19.8 | 48.9% | -0.6% | 2.5% | 3.0% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonGBTG — Frequently Asked Questions
Quick answers to the most common questions about buying GBTG stock.
What is Global Business Travel Group, Inc.'s P/E ratio?
Global Business Travel Group, Inc.'s current P/E ratio is 44.9x. The historical average is 36.4x. This places it at the 100th percentile of its historical range.
What is Global Business Travel Group, Inc.'s EV/EBITDA?
Global Business Travel Group, Inc.'s current EV/EBITDA is 16.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.5x.
What is Global Business Travel Group, Inc.'s ROE?
Global Business Travel Group, Inc.'s return on equity (ROE) is 8.0%. The historical average is -8.2%.
Is GBTG stock overvalued?
Based on historical data, Global Business Travel Group, Inc. is trading at a P/E of 44.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Global Business Travel Group, Inc.'s profit margins?
Global Business Travel Group, Inc. has 60.1% gross margin and 6.7% operating margin.
How much debt does Global Business Travel Group, Inc. have?
Global Business Travel Group, Inc.'s Debt/EBITDA ratio is 4.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.