Global Business Travel (GBTG) Debt to Equity (2020 - 2026)

Global Business Travel (GBTG) recorded quarterly Debt to Equity of $0.94 in Q1 2026, up 6.85% quarter-over-quarter from $0.88 in Q4 2025, and down 23.46% on a YoY basis from $1.23 in Q1 2025.

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

Global Business Travel's Debt to Equity history runs 7 years deep, the most recent figure standing at $0.94 for Q1 2026.

  • In Q1 2026, Debt to Equity fell 23.46% year-over-year to $0.94; the TTM figure through Mar 2026 stood at $0.94 (down 23.46% YoY), while the FY2025 annual figure was $0.88, down 32.82% from the prior year.
  • Debt to Equity was $0.94 for Q1 2026 at Global Business Travel, up from $0.88 in the prior quarter.
  • In the past five years, Debt to Equity ranged from a high of $1.31 in Q4 2024 to a low of $0.01 in Q1 2022.
  • Historically, Debt to Equity has averaged $1.0 across 5 years, with a median of $1.04 in 2022.
  • The sharpest annual moves came in 2022 and 2025: Debt to Equity surged 38974.39% in 2022, then tumbled 32.82% in 2025.
  • A 5-year view of Debt to Equity shows it stood at $0.89 in 2022, then gained by 26.08% to $1.12 in 2023, then climbed by 16.52% to $1.31 in 2024, then sank by 32.82% to $0.88 in 2025, then advanced by 6.85% to $0.94 in 2026.
  • The last three Debt to Equity figures came in at $0.94 (Q1 2026), $0.88 (Q4 2025), and $0.91 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt/Equity (Qtr)
1 Booking Holdings 131.01 Bn 114.99 Bn 3.46 Bn -2.11
2 Airbnb 79.86 Bn 67.85 Bn 2.10 Bn 0.32
3 Royal Caribbean Cruises 75.60 Bn 75.08 Bn 2.21 Bn 2.01
4 Carnival 37.80 Bn 36.39 Bn - 1.94
5 Expedia 27.88 Bn 22.09 Bn 3.05 Bn 2.43
6 Norwegian Cruise Line Holdings 8.56 Bn 8.38 Bn 953.34 Mn 6.23
7 Global Business Travel 4.79 Bn 4.35 Bn 714.00 Mn 0.94
8 Travel & Leisure 4.51 Bn 4.25 Bn 926.00 Mn -
9 Trip.com 4.42 Bn -788.25 Mn 1.74 Bn 0.18
10 MakeMyTrip 2.12 Bn 1.35 Bn - -

Historic Data

Download Data
DateValue
Mar 31, 2026 0.94
Dec 31, 2025 0.88
Sep 30, 2025 0.91
Jun 30, 2025 1.14
Mar 31, 2025 1.23
Dec 31, 2024 1.31
Sep 30, 2024 1.25
Jun 30, 2024 1.12
Mar 31, 2024 1.16
Dec 31, 2023 1.12
Sep 30, 2023 1.08
Jun 30, 2023 1.01
Mar 31, 2023 1.00
Dec 31, 2022 0.89
Sep 30, 2022 1.04
Jun 30, 2022 0.96
Mar 31, 2022 0.01
Dec 31, 2021 0.77
Sep 30, 2021 0.00
Jun 30, 2021 0.00