Global Business Travel Group, Inc. (GBTG) Stock Analysis
Consumer Cyclical · Travel Services · NYSE
Global Business Travel Group, Inc. (GBTG) posted $2.72B in revenue for fiscal 2025 (up 12.2% year over year), at a 4.0% net margin, and has compounded revenue about 27.9%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Global Business Travel Group, Inc.
Global Business Travel Group, Inc. has grown revenue from $0 to $2.72B over the last 7 fiscal years, compounding about 27.9% a year. The most recent year was up 12.2%, so growth has cooled from its longer-run pace.
Net margin sits at 4%, up 9.7 points year over year on a 60.1% gross margin. It carries about $1.42B of total debt.
At today's valuation the market is pricing in roughly 19.3% annual free-cash-flow growth. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Global Business Travel Group, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Global Business Travel Group, Inc. revenue & earnings — last 7 fiscal years
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $793.00M | $763.00M | $1.85B | $2.29B | $2.42B | $2.72B |
| Gross profit | — | — | — | $1.02B | $1.33B | $1.46B | $1.63B |
| Net income | $-1,853 | $-19.64M | $6.20M | $-25.00M | $-63.00M | $-138.00M | $109.00M |
| Net margin | — | -2.5% | 0.8% | -1.4% | -2.8% | -5.7% | 4.0% |
Source: Global Business Travel Group, Inc. SEC filings (10-K).
Global Business Travel Group, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 49.3% while revenue rose 12.2% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Heavy debt loadTotal debt of $1476M is 6.3× last year's operating cash flow — it would take years of cash flow to clear.
What growth is priced into GBTG stock?
At today's market cap of $4.87B, Global Business Travel Group, Inc. is priced for free-cash-flow growth of about 19.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $104.00M from the FY ending 2025-12-31). For comparison, revenue 27.9%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 7 years of Global Business Travel Group, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Global Business Travel Group, Inc. financial history by metric
About Global Business Travel Group, Inc.
Global Business Travel Group, Inc. operates as a technology and services company in the United States, the United Kingdom, and internationally. The company offers the Amex GBT marketplace for fares and rates; travel solutions, such as Amex GBT Egencia for businesses needing a configurable digital travel and expense platform; Complete by SAP Concur and Amex GBT, a co-developed travel and expense solution for businesses; and Amex GBT Neo for businesses preferring customizable global travel. It also provides Amex GBT Select for insight and control in travel spend; Amex GBT Ovation for businesses preferring a higher touch travel solution and personalized corporate travel servicing; and CWTSatoTravel for military and government agencies, as well as related organizations subject to government regulations, policies, and programs. In addition, the company offers professional services, including Amex GBT Meetings & Events for business travelers; and Amex GBT Consulting for guidance and solutions for corporate travel programs, cost savings, traveler experience, and policy compliance. Further, it provides virtual assistants, personalized recommendations, automatic rate optimization tools, and savings identification capabilities through its AI-powered platform; and traveler insights, fare analysis, and data analytics. Global Business Travel Group, Inc. was founded in 2014 and is headquartered in London, the United Kingdom.
Global Business Travel Group, Inc. — frequently asked questions
What is Global Business Travel Group, Inc.'s revenue?
Global Business Travel Group, Inc. (GBTG) reported revenue of $2.72B for fiscal year 2025, up 12.2% from the prior year, according to its SEC filings.
Is Global Business Travel Group, Inc. profitable?
Yes. GBTG earned net income of $109.00M in fiscal 2025, a net margin of 4.0%.
What is GBTG's P/E ratio?
Global Business Travel Group, Inc. trades at a price-to-earnings ratio of about 58.4 based on the latest data in our nightly-refreshed cache.
How fast is Global Business Travel Group, Inc. growing?
GBTG's revenue grew at roughly 27.9% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Global Business Travel Group, Inc. have?
As of fiscal year 2025, GBTG carried roughly $1.42B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Global Business Travel Group, Inc.'s gross margin?
GBTG's gross margin was 60.1% in fiscal 2025 — gross profit of $1.63B on revenue of $2.72B.
What is Global Business Travel Group, Inc.'s market cap?
Global Business Travel Group, Inc. (GBTG) has a market capitalization of about $4.87B, based on the latest data in our nightly-refreshed cache.
When does Global Business Travel Group, Inc.'s fiscal year end?
GBTG's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into GBTG stock?
At today's market cap of $4.87B, Global Business Travel Group, Inc. is priced for free-cash-flow growth of about 19.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $104.00M from the FY ending 2025-12-31). For comparison, revenue 27.9%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Global Business Travel Group, Inc.'s official SEC filings (10-K and 10-Q), covering 7 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.