Airbnb (ABNB) Operating Margin (2020 - 2026)
Airbnb (ABNB) recorded quarterly Operating Margin of 3.21% in Q1 2026, down 66.84% quarter-over-quarter from 9.68% in Q4 2025, and up 154.0% on a YoY basis from 1.26% in Q1 2025.
Airbnb (ABNB) Operating Margin (2020 - 2026) Analysis & Trends
Airbnb's Operating Margin history runs 7 years deep, the most recent figure standing at 3.21% for Q1 2026.
- In Q1 2026, Operating Margin rose 154.0% year-over-year to 3.21%; the TTM figure through Mar 2026 stood at 20.49% (down 167.0% YoY), while the FY2025 annual figure was 20.78%, down 221.0% from the prior year.
- Operating Margin was 3.21% for Q1 2026 at Airbnb, down from 9.68% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 44.04% in Q3 2023 to a low of 22.36% in Q4 2023.
- Historically, Operating Margin has averaged 15.81% across 5 years, with a median of 17.34% in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Margin soared 5006 bps in 2022, then tumbled 3472 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 12.36% in 2022, then tumbled by 281 bps to 22.36% in 2023, then jumped by 178 bps to 17.34% in 2024, then plunged by 44 bps to 9.68% in 2025, then slumped by 67 bps to 3.21% in 2026.
- The last three Operating Margin figures came in at 3.21% (Q1 2026), 9.68% (Q4 2025), and 39.68% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 22.98% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 3.21% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 26.10% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 9.85% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 7.33% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 9.99% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 0.36% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 16.55% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 16.49% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | 16.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.21% |
| Dec 31, 2025 | 9.68% |
| Sep 30, 2025 | 39.68% |
| Jun 30, 2025 | 19.77% |
| Mar 31, 2025 | 1.67% |
| Dec 31, 2024 | 17.34% |
| Sep 30, 2024 | 40.86% |
| Jun 30, 2024 | 18.09% |
| Mar 31, 2024 | 4.72% |
| Dec 31, 2023 | -22.36% |
| Sep 30, 2023 | 44.04% |
| Jun 30, 2023 | 21.05% |
| Mar 31, 2023 | -0.28% |
| Dec 31, 2022 | 12.36% |
| Sep 30, 2022 | 41.71% |
| Jun 30, 2022 | 17.54% |
| Mar 31, 2022 | -0.33% |
| Dec 31, 2021 | 4.91% |
| Sep 30, 2021 | 38.08% |
| Jun 30, 2021 | -3.84% |