Global Business Travel (GBTG) Debt Ratio (2020 - 2026)

Global Business Travel's (GBTG) quarterly Debt Ratio came in at 0.3 in Q1 2026, down 18.32% year-on-year from 0.37 in Q1 2025, and up 3.55% quarter-over-quarter from 0.29 in Q4 2025.

Global Business Travel (GBTG) Debt Ratio (2020 - 2026) Analysis & Trends

Global Business Travel's Debt Ratio history runs 7 years deep, the most recent figure standing at 0.3 for Q1 2026.

  • On a quarterly basis, Debt Ratio fell 18.32% year-over-year to 0.3 in Q1 2026; TTM through Mar 2026 was 0.3, a 18.32% decrease from a year earlier, with the FY2025 full-year figure at 0.29, down 25.49% from the prior year.
  • Debt Ratio rose to 0.3 in Q1 2026 per GBTG's latest filing, from 0.29 in the prior quarter.
  • Across five years, Debt Ratio topped out at 0.39 in Q4 2024 and bottomed at 0.01 in Q1 2022.
  • The 5-year median for Debt Ratio is 0.34 (2023), against an average of 0.32.
  • Across the five-year window, Debt Ratio jumped 6399466.61% in 2022 and slipped 25.49% in 2025, its largest moves.
  • Year by year, Debt Ratio stood at 0.33 in 2022, then rose by 10.77% to 0.36 in 2023, then grew by 6.62% to 0.39 in 2024, then declined by 25.49% to 0.29 in 2025, then grew by 3.55% to 0.3 in 2026.
  • Per Business Quant, the three latest GBTG Debt Ratio figures stand at 0.3 (Q1 2026), 0.29 (Q4 2025), and 0.3 (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Booking Holdings 136.54 Bn 120.51 Bn 3.46 Bn 0.66
2 Royal Caribbean Cruises 86.11 Bn 85.59 Bn 2.21 Bn 0.50
3 Airbnb 82.27 Bn 70.26 Bn 2.10 Bn 0.09
4 Yatra Online 55.46 Bn 55.47 Bn 10.44 Mn 0.06
5 Viking Holdings 44.18 Bn 40.37 Bn 713.43 Mn 0.45
6 Carnival 34.61 Bn 32.38 Bn - 0.48
7 Expedia 31.38 Bn 28.88 Bn 3.05 Bn 0.17
8 Norwegian Cruise Line Holdings 8.54 Bn 8.35 Bn 953.34 Mn 0.64
9 MakeMyTrip 5.02 Bn 4.60 Bn 199.14 Mn -
10 Global Business Travel 4.83 Bn 4.43 Bn 490.00 Mn 0.30

Historic Data

Download Data
DateValue
Mar 31, 2026 0.30
Dec 31, 2025 0.29
Sep 30, 2025 0.30
Jun 30, 2025 0.36
Mar 31, 2025 0.37
Dec 31, 2024 0.39
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
Sep 30, 2021 0.00
Jun 30, 2021 0.00