GBTG (Global Business Travel Group, Inc.) Stock Financials & Earnings | Market Cap Arena

GBTG (Global Business Travel Group, Inc.) Stock Financials & Earnings | Market Cap Arena

GBTGGlobal Business Travel Group, Inc.

Mkt Cap$3B

Technology·Software - Application·🇺🇸 United States·NYSE

Revenue (TTM)$2.7B

Net Income (TTM)$109M

EPS (TTM)$0.22

Free Cash Flow (TTM)$124M

Gross Margin43.5%

Op. Margin30.6%

Net Margin4.0%

FCF Margin4.6%

P/S Ratio (TTM)1.1x

P/E Ratio (TTM)26.9x

YoY Rev Growth+12.2%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$578M	$336M	-$9M
Q2 23	$592M	$349M	$2M
Q3 23	$571M	$334M	-$4M
Q4 23	$549M	$311M	$3M
Q1 24	$610M	$365M	$16M
Q2 24	$625M	$378M	$42M
Q3 24	$597M	$360M	$27M
Q4 24	$591M	$353M	$30M
Q1 25	$621M	$390M	$55M
Q2 25	$631M	$389M	$34M
Q3 25	$674M	$404M	$12M
Q4 25	$792M	$0	$732M

Valuation

Quarter	P/S	P/E
Q1 23	1.4x	—
Q2 23	1.3x	—
Q3 23	1.3x	—
Q4 23	1.3x	—
Q1 24	1.3x	—
Q2 24	1.2x	—
Q3 24	1.2x	—
Q4 24	1.2x	—
Q1 25	1.2x	—
Q2 25	1.2x	—
Q3 25	1.2x	292.9x
Q4 25	1.1x	26.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$4M	-$25M
Q1 23	-$77M	-$109M
Q2 23	$46M	$19M
Q3 23	$135M	$107M
Q4 23	$58M	$32M
Q1 24	$49M	$24M
Q2 24	$73M	$49M
Q3 24	$85M	$59M
Q4 24	$65M	$33M
Q1 25	$53M	$26M
Q2 25	$57M	$27M
Q3 25	$71M	$38M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 22	$21M
Q1 23	$32M
Q2 23	$27M
Q3 23	$28M
Q4 23	$26M
Q1 24	$25M
Q2 24	$24M
Q3 24	$26M
Q4 24	$32M
Q1 25	$27M
Q2 25	$30M
Q3 25	$33M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+65.1%	+32.2%
Q2 23	+21.8%	+16.8%
Q3 23	+17.0%	+7.9%
Q4 23	+4.2%	-3.4%
Q1 24	+5.5%	+1.2%
Q2 24	+5.6%	-1.2%
Q3 24	+4.6%	-0.9%
Q4 24	+7.7%	+2.7%
Q1 25	+1.8%	-4.7%
Q2 25	+1.0%	+2.4%
Q3 25	+12.9%	+16.1%
Q4 25	+34.0%	-89.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$16M	3.0%
Q1 23	$19M	3.3%
Q2 23	$22M	3.7%
Q3 23	$19M	3.3%
Q4 23	$15M	2.7%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$20M	3.4%
Q4 24	$19M	3.2%
Q1 25	$19M	3.1%
Q2 25	$20M	3.2%
Q3 25	$19M	2.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$101M	$72M	$103M
Q2 23	$103M	$86M	$102M
Q3 23	$101M	$81M	$94M
Q4 23	$104M	$61M	$94M
Q1 24	$108M	$86M	$99M
Q2 24	$112M	$80M	$99M
Q3 24	$112M	$75M	$99M
Q4 24	—	$165M	$103M
Q1 25	$120M	$68M	$103M
Q2 25	$120M	$69M	$111M
Q3 25	$130M	$76M	$108M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	65.1%	7.8%	72.9
Q2 23	21.8%	4.6%	26.4
Q3 23	17.0%	13.3%	30.3
Q4 23	4.2%	7.7%	11.8
Q1 24	5.5%	14.4%	20.0
Q2 24	5.6%	13.0%	18.5
Q3 24	4.6%	-0.5%	4.1
Q4 24	7.7%	14.2%	21.9
Q1 25	1.8%	25.8%	27.6
Q2 25	1.0%	15.8%	16.8
Q3 25	12.9%	5.2%	18.1
Q4 25	34.0%	305.9%	339.9

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$303M	$0	$303M
Q1 23	$320M	$0	$320M
Q2 23	$335M	$0	$335M
Q3 23	$432M	$0	$432M
Q4 23	$476M	$0	$476M
Q1 24	$475M	$0	$475M
Q2 24	$515M	$0	$515M
Q3 24	$524M	$0	$524M
Q4 24	$536M	$0	$536M
Q1 25	$552M	$0	$552M
Q2 25	$601M	$0	$601M
Q3 25	$427M	$0	$427M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	419M	+0.0%
Q2 23	419M	+0.0%
Q3 23	458M	+9.2%
Q4 23	467M	+2.0%
Q1 24	461M	-1.2%
Q2 24	471M	+2.0%
Q3 24	462M	-1.8%
Q4 24	463M	+0.1%
Q1 25	479M	+3.5%
Q2 25	475M	-0.8%
Q3 25	486M	+2.3%
Q4 25	524M	+7.8%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	$397M	2
FY 21	$382M	2
FY 22	$97K	19K
FY 23	$121K	19K
FY 24	$135K	18K
FY 25	$151K	18K