Global Business Travel (GBTG) Debt Ratio (2020 - 2026)
Global Business Travel's (GBTG) Debt Ratio was 0.30 for Q2 2026, down 16.5% from 0.36 a year earlier and down 0.3% from the prior quarter.
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Analysis
Global Business Travel (GBTG) Debt Ratio (2020 - 2026) Analysis & Trends
For FY2025, Debt Ratio at Global Business Travel was 0.29, down 24.5% from FY2024.
- By year, Debt Ratio came in at 0.38 in FY2024 (+5.2%), 0.36 in FY2023 (+10.8%), 0.33 in FY2022 (+20.1%) and 0.27 in FY2021.
- Five-year quarterly Debt Ratio spans a low of 0.01 in Q1 2022 and a high of 0.38 in Q4 2024.
- Year over year, Debt Ratio has now declined in each of the last five quarters, with an average decline of 8.5% over the last eight quarters.
- The high point for year-over-year Debt Ratio in five years was Q1 2022 (growth of 286.8%); the low point was Q4 2025 (a decline of 24.5%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 0.30 (Q1 2026), 0.29 (Q4 2025) and 0.29 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 92.75 Bn | 90.79 Bn | 1.55 Bn | 0.60 |
| 2 | Hilton Worldwide Holdings | 71.81 Bn | 68.29 Bn | 3.08 Bn | 0.79 |
| 3 | Royal Caribbean Cruises | 71.17 Bn | 68.75 Bn | 2.29 Bn | 0.51 |
| 4 | Viking Holdings | 35.31 Bn | 20.44 Bn | 996.62 Mn | 0.43 |
| 5 | Carnival | 33.05 Bn | 26.25 Bn | - | 0.47 |
| 6 | Intercontinental Hotels | 26.49 Bn | 22.05 Bn | - | -0.40 |
| 7 | Trip.com | 25.40 Bn | -20.15 Bn | 1.84 Bn | 0.10 |
| 8 | Hyatt Hotels | 14.95 Bn | 12.43 Bn | 388.00 Mn | 0.31 |
| 9 | H World | 13.15 Bn | 4.07 Bn | - | 0.07 |
| 10 | Global Business Travel | 4.96 Bn | 3.19 Bn | 514.00 Mn | 0.30 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.30 |
| Mar 31, 2026 | 0.30 |
| Dec 31, 2025 | 0.29 |
| Sep 30, 2025 | 0.29 |
| Jun 30, 2025 | 0.36 |
| Mar 31, 2025 | 0.37 |
| Dec 31, 2024 | 0.38 |
| Sep 30, 2024 | 0.37 |
| Jun 30, 2024 | 0.36 |
| Mar 31, 2024 | 0.36 |
| Dec 31, 2023 | 0.36 |
| Sep 30, 2023 | 0.35 |
| Jun 30, 2023 | 0.34 |
| Mar 31, 2023 | 0.34 |
| Dec 31, 2022 | 0.33 |
| Sep 30, 2022 | 0.33 |
| Jun 30, 2022 | 0.32 |
| Mar 31, 2022 | 0.01 |
| Dec 31, 2021 | 0.27 |
| Jun 30, 2021 | 0.00 |
API Access
Global Business Travel Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=GBTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "GBTG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=GBTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();