GBTG Consumer Cyclical

Global Business Travel Group Inc

$9.50Unavailable

Price as of close on Sep 28, 2026 · Financials updated Nov 4, 2026

Basics

Sector: Consumer Cyclical
Industry: Travel Services
Country: United States
Market cap: 5.0B USD
Enterprise value: 6.0B USD
Full-time employees: 27,000

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.96 vs a peer median of 0.63), though less than the overall market and more debt relative to equity (0.92× vs a peer median of 0.46×)higher risk: bigger price swings (beta 0.96 vs peers 0.63) and more debt vs equity (0.92× vs peers 0.46×)

Ranks #1,012 of 1,502 consumer cyclical companies (bottom 33%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $228M vs $128M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Global Business Travel recorded $228M of stock-based pay expense and spent $128M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Global Business Travel recorded $228M of stock-based pay expense and spent $128M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Global Business Travel made a profit per share in its latest year after a loss the year before.
Profit is backed by cash. Free cash flow is 111% of reported profit.
Global Business Travel's free cash flow is 111% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Fast revenue growth. Revenue grew 30% in the 12 months to June 2026 vs the 12 months before, faster than 94% of peers.
Revenue grew 30% in the 12 months to June 2026 vs the 12 months before, faster than 94% of its peers.

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

24/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ FCF yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.77Sector median: 0.0439 · MAD: 0.0329

EBITDA yield4.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.83Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield2.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.75Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield33.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

95/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 8.1%

Why

Stronger than most peers on:

▲ Revenue growth
▲ EPS growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 3.48Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth13.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.42Sector median: 0.0425 · MAD: 0.0636

Revenue growth30.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 4.05Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

25/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROIC
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin2.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.92Sector median: 0.0638 · MAD: 0.0461

Return on assets1.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.59Sector median: 0.0331 · MAD: 0.0254

Return on invested capital2.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.88Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin58.5%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equity5.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Sep 28, 2026 close: Safety percentile 28 → 27

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.96

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.08Sector median: 0.6345 · MAD: 0.2980

Current ratio1.20×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.51Sector median: 1.4800 · MAD: 0.5570

Debt / equity0.92×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.29Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Global Business Travel

Is Global Business Travel getting weaker?: Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is Global Business Travel valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 24/100 against 1,612 consumer cyclical peers. EBITDA yield 4.9% vs a peer median of 8.8% (weaker than 73% of peers).EBITDA yield 4.9% vs peers 8.8% (weaker than 73% of peers).
Is Global Business Travel growing?: Yes, faster than most of its peers. Growth scores 95/100 against 1,612 consumer cyclical peers. Revenue growth 30.2% vs a peer median of 3.7% (stronger than 94% of peers).Revenue growth 30.2% vs peers 3.7% (stronger than 94% of peers).
How profitable is Global Business Travel?: Less profitable than most of its peers. Profitability scores 25/100 against 1,612 consumer cyclical peers. Operating margin 2.1% vs a peer median of 6.4% (weaker than 77% of peers).Operating margin 2.1% vs peers 6.4% (weaker than 77% of peers).
How risky is Global Business Travel?: Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Beta 0.96 vs a peer median of 0.63 (weaker than 71% of peers).Beta 0.96 vs peers 0.63 (weaker than 71% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.9B USD	3.2B USD	+8.1%
Net income (12 months)	90.0M USD	92.0M USD	+2.2%
Operating margin	2.7%	2.1%	−0.5 pts
Free cash flow (12 months)	26.0M USD	102.0M USD	+292.3%
Debt	1.5B USD	1.5B USD	−0.3%
Cash	442.0M USD	518.0M USD	+17.2%
Shares outstanding	521.5M	522.4M	+0.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Cyclical · 182 companies

Valuations in Consumer Cyclical are within their usual range since 2016.

36% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +0% and earnings +10% (medians): prices and earnings moved broadly together.
Median price-to-sales is −55% vs the whole market, against a usual −41%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Cyclical: too few Travel Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-73.4%	-10.7%	-0.3%	4.7%	4.8%	▲ 0.0 pts
Net margin	0.8%	-12.4%	-5.9%	-5.5%	4.1%	▲ 9.6 pts
Return on assets (ROA)	0.2%	-6.1%	-3.6%	-3.7%	2.3%	▲ 6.0 pts
Return on equity (ROE)	0.5%	-150.7%	-11.3%	-12.7%	6.9%	▲ 20 pts
Free cash flow margin	-72.9%	-26.4%	2.1%	6.8%	3.8%	▼ 3.0 pts
Current ratio	1.46×	1.60×	1.64×	1.64×	1.14×	▼ 31%
Debt to equity	0.77×	8.04×	1.13×	1.32×	0.88×	▼ 33%
Interest coverage	-10.57×	-2.02×	-0.06×	1.00×	1.37×	▲ 37%

GBTG price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.96 vs a peer median of 0.63), though less than the overall market and more debt relative to equity (0.92× vs a peer median of 0.46×)higher risk: bigger price swings (beta 0.96 vs peers 0.63) and more debt vs equity (0.92× vs peers 0.46×)

Ranks #1,012 of 1,502 consumer cyclical companies (bottom 33%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $228M vs $128M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Global Business Travel recorded $228M of stock-based pay expense and spent $128M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Global Business Travel recorded $228M of stock-based pay expense and spent $128M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Global Business Travel made a profit per share in its latest year after a loss the year before.

Profit is backed by cash. Free cash flow is 111% of reported profit.

Global Business Travel's free cash flow is 111% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Fast revenue growth. Revenue grew 30% in the 12 months to June 2026 vs the 12 months before, faster than 94% of peers.

Revenue grew 30% in the 12 months to June 2026 vs the 12 months before, faster than 94% of its peers.

Questions investors ask about Global Business Travel

Is Global Business Travel getting weaker?

Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is Global Business Travel valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 24/100 against 1,612 consumer cyclical peers. EBITDA yield 4.9% vs a peer median of 8.8% (weaker than 73% of peers).EBITDA yield 4.9% vs peers 8.8% (weaker than 73% of peers).

Is Global Business Travel growing?

Yes, faster than most of its peers. Growth scores 95/100 against 1,612 consumer cyclical peers. Revenue growth 30.2% vs a peer median of 3.7% (stronger than 94% of peers).Revenue growth 30.2% vs peers 3.7% (stronger than 94% of peers).

How profitable is Global Business Travel?

Less profitable than most of its peers. Profitability scores 25/100 against 1,612 consumer cyclical peers. Operating margin 2.1% vs a peer median of 6.4% (weaker than 77% of peers).Operating margin 2.1% vs peers 6.4% (weaker than 77% of peers).

How risky is Global Business Travel?

Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Beta 0.96 vs a peer median of 0.63 (weaker than 71% of peers).Beta 0.96 vs peers 0.63 (weaker than 71% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.9B USD

3.2B USD

+8.1%

Net income (12 months)

90.0M USD

92.0M USD

+2.2%

Operating margin

2.7%

2.1%

−0.5 pts

Free cash flow (12 months)

26.0M USD

102.0M USD

+292.3%

Debt

1.5B USD

1.5B USD

−0.3%

Cash

442.0M USD

518.0M USD

+17.2%

Shares outstanding

521.5M

522.4M

+0.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-73.4%

-10.7%

-0.3%

4.7%

4.8%

▲ 0.0 pts

Net margin

0.8%

-12.4%

-5.9%

-5.5%

4.1%

▲ 9.6 pts

Return on assets (ROA)

0.2%

-6.1%

-3.6%

-3.7%

2.3%

▲ 6.0 pts

Return on equity (ROE)

0.5%

-150.7%

-11.3%

-12.7%

6.9%

▲ 20 pts

Free cash flow margin

-72.9%

-26.4%

2.1%

6.8%

3.8%

▼ 3.0 pts

Current ratio

1.46×

1.60×

1.64×

1.14×

▼ 31%

Debt to equity

0.77×

8.04×

1.13×

1.32×

0.88×

▼ 33%

Interest coverage

-10.57×

-2.02×

-0.06×

1.00×

1.37×

▲ 37%