GBTG · Global Business Travel Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $840.00M | - | $674.00M | $631.00M | $621.00M | - | $597.00M | $625.00M | $610.00M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $98.00M | - | $76.00M | $69.00M | $68.00M | - | $75.00M | $80.00M | $86.00M | - |
| Total Operating Expenses | $837.00M | - | $662.00M | $597.00M | $566.00M | - | $570.00M | $583.00M | $594.00M | - |
| D&A | $60.00M | - | $49.00M | $43.00M | $40.00M | - | $43.00M | $48.00M | $47.00M | - |
| Operating Income | $3.00M | - | $12.00M | $34.00M | $55.00M | - | $27.00M | $42.00M | $16.00M | - |
| Interest Expense | $27.00M | - | $24.00M | $23.00M | $33.00M | - | $36.00M | $35.00M | $33.00M | - |
| Income Tax | ($42.00M) | - | $24.00M | $21.00M | $21.00M | - | $54.00M | ($26.00M) | $27.00M | - |
| Net Income | $52.00M | - | ($62.00M) | $13.00M | $75.00M | - | ($129.00M) | $26.00M | ($19.00M) | - |
| EPS - Basic | $0.10 | - | ($0.13) | $0.03 | $0.16 | - | ($0.28) | $0.06 | ($0.04) | - |
| EPS - Diluted | $0.10 | - | ($0.13) | $0.03 | $0.16 | - | ($0.28) | $0.06 | ($0.04) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $442.00M | $434.00M | $427.00M | $601.00M | $552.00M | $536.00M | $524.00M | $515.00M | $475.00M | $476.00M |
| Accounts Receivable | $1.01B | $869.00M | $930.00M | $722.00M | $717.00M | $571.00M | $691.00M | $712.00M | $812.00M | $726.00M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $603.00M | $515.00M | $556.00M | $353.00M | $325.00M | $263.00M | $330.00M | $333.00M | $386.00M | $302.00M |
| Current Assets | $1.76B | $1.57B | $1.62B | $1.52B | $1.46B | $1.28B | $1.39B | $1.45B | $1.48B | $1.36B |
| Total Assets | $5.08B | $4.92B | $4.76B | $3.87B | $3.79B | $3.62B | $3.75B | $3.78B | $3.83B | $3.75B |
| Current Liabilities | $1.49B | $1.38B | $1.32B | $915.00M | $910.00M | $780.00M | $892.00M | $879.00M | $982.00M | $831.00M |
| Long-term Debt | $1.46B | $1.36B | $1.37B | $1.36B | $1.36B | $1.36B | $1.37B | $1.36B | $1.35B | $1.35B |
| Total Liabilities | $3.42B | $3.25B | $3.23B | $2.66B | $2.66B | $2.57B | $2.65B | $2.56B | $2.66B | $2.54B |
| Stockholders' Equity | $1.61B | $1.61B | $1.53B | $1.20B | $1.12B | $1.05B | $1.10B | $1.21B | $1.17B | $1.21B |
| Retained Earnings | ($1.41B) | ($1.47B) | ($1.55B) | ($1.49B) | ($1.50B) | ($1.57B) | ($1.56B) | ($1.43B) | ($1.46B) | ($1.44B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($15.00M) | - | - | - | $53.00M | - | - | - | $49.00M | - |
| Investing Cash Flow | ($27.00M) | - | - | - | ($18.00M) | - | - | - | ($25.00M) | - |
| Financing Cash Flow | $49.00M | - | - | - | ($25.00M) | - | - | - | ($10.00M) | - |
| CapEx | $37.00M | - | - | - | $27.00M | - | - | - | $25.00M | - |
| Free Cash Flow | ($52.00M) | - | - | - | $26.00M | - | - | - | $24.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 0.4% | - | 1.8% | 5.4% | 8.9% | - | 4.5% | 6.7% | 2.6% | - |
| EBITDA margin | 7.5% | - | 9.1% | 12.2% | 15.3% | - | 11.7% | 14.4% | 10.3% | - |
| Net margin | 6.2% | - | -9.2% | 2.1% | 12.1% | - | -21.6% | 4.2% | -3.1% | - |
| Free cash flow margin | -6.2% | - | - | - | 4.2% | - | - | - | 3.9% | - |
| FCF / Net income | -1.00 | - | - | - | 0.35 | - | - | - | -1.26 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 11.7% | - | 11.3% | 10.9% | 11.0% | - | 12.6% | 12.8% | 14.1% | - |
| Effective tax rate | -420.0% | - | - | 61.8% | 21.9% | - | - | - | 337.5% | - |
| Return on assets | 1.0% | - | -1.3% | 0.3% | 2.0% | - | -3.4% | 0.7% | -0.5% | - |
| Return on equity | 3.2% | - | -4.1% | 1.1% | 6.7% | - | -11.7% | 2.1% | -1.6% | - |
| Return on invested capital | 0.1% | - | 0.3% | 0.7% | 1.7% | - | 0.9% | 1.3% | 0.3% | - |
| Liquidity | ||||||||||
| Current ratio | 1.18 | 1.14 | 1.23 | 1.66 | 1.60 | 1.64 | 1.56 | 1.65 | 1.50 | 1.64 |
| Quick ratio | 1.18 | 1.14 | 1.23 | 1.66 | 1.60 | 1.64 | 1.56 | 1.65 | 1.50 | 1.64 |
| Cash ratio | 0.30 | 0.31 | 0.32 | 0.66 | 0.61 | 0.69 | 0.59 | 0.59 | 0.48 | 0.57 |
| Leverage | ||||||||||
| Debt / Equity | 0.90 | 0.85 | 0.89 | 1.14 | 1.22 | 1.30 | 1.24 | 1.12 | 1.16 | 1.12 |
| Debt / Assets | 0.29 | 0.28 | 0.29 | 0.35 | 0.36 | 0.38 | 0.36 | 0.36 | 0.35 | 0.36 |
| Debt / EBITDA | 23.10 | - | 22.39 | 17.69 | 14.37 | - | 19.54 | 15.09 | 21.51 | - |
| Interest coverage | 0.1x | - | 0.5x | 1.5x | 1.7x | - | 0.8x | 1.2x | 0.5x | - |
| Equity multiplier | 3.16 | 3.06 | 3.11 | 3.23 | 3.38 | 3.45 | 3.41 | 3.12 | 3.27 | 3.11 |
| Liabilities / Assets | 0.67 | 0.66 | 0.68 | 0.69 | 0.70 | 0.71 | 0.71 | 0.68 | 0.69 | 0.68 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | - | 0.14 | 0.16 | 0.16 | - | 0.16 | 0.17 | 0.16 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 438d | - | 504d | 418d | 421d | - | 422d | 416d | 486d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 55.8x | - | - | 210.0x | 45.4x | - | - | 110.0x | - | - |
| P / B | 1.8x | - | 2.6x | 2.5x | 3.1x | - | 3.2x | 2.6x | 2.4x | - |
| P / S | 3.5x | - | 5.8x | 4.7x | 5.6x | - | 6.0x | 5.0x | 4.5x | - |
| EV / EBITDA | 62.1x | - | 79.7x | 48.7x | 45.1x | - | 62.8x | 43.9x | 58.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 35.3% | - | 12.9% | 1.0% | 1.8% | - | 4.6% | 5.6% | - | - |
| Revenue CAGR (3y) | - | - | 11.4% | 60.4% | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -94.5% | - | -55.6% | -19.0% | 243.8% | - | - | 2000.0% | - | - |
| Net income growth (YoY) | -30.7% | - | 51.9% | -50.0% | - | - | - | - | - | - |
| EPS growth (YoY) | -37.5% | - | 53.6% | -50.0% | - | - | -1300.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | 8.3% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 43.5% | 53.0% | 38.9% | -1.2% | -4.3% | -13.0% | -12.1% | 585.9% | - | 694.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.72B totalReportable Segment$2.72B · 100.0%
Product / service
$2.72B totalTravel$2.15B · 79.2%
Product And Service Other$564.00M · 20.8%
Geographic
$2.72B totalGB$1.36B · 50.1%
Countries Other Than United States And United Kingdom$754.00M · 27.7%
US$601.00M · 22.1%
Peer comparison
Same SIC group: Transportation Services
Comparing Global Business Travel Group against the 5 most active filers in the same SIC group.