Global Business Travel (GBTG) EBITDA Margin (2021 - 2026)
Global Business Travel's (GBTG) quarterly EBITDA Margin came in at 0.36% in Q1 2026, down 850.0% year-on-year from 0.05% in Q1 2025, and down 90.25% quarter-over-quarter from 3.66% in Q4 2025.
Global Business Travel (GBTG) EBITDA Margin (2021 - 2026) Analysis & Trends
Global Business Travel's EBITDA Margin history runs 6 years deep, the most recent figure standing at 0.36% for Q1 2026.
- On a quarterly basis, EBITDA Margin fell 850.0% year-over-year to 0.36% in Q1 2026; TTM through Mar 2026 was 2.66%, a 367.0% decrease from a year earlier, with the FY2025 full-year figure at 4.78%, up 4.0% from the prior year.
- EBITDA Margin declined to 0.36% in Q1 2026 per GBTG's latest filing, from 3.66% in the prior quarter.
- Across five years, EBITDA Margin topped out at 8.86% in Q1 2025 and bottomed at 27.43% in Q1 2022.
- The 5-year median for EBITDA Margin is 0.55% (2023), against an average of 0.6%.
- Across the five-year window, EBITDA Margin surged 7060 bps in 2022 and tumbled 850 bps in 2026, its largest moves.
- Year by year, EBITDA Margin stood at 7.21% in 2022, then surged by 108 bps to 0.55% in 2023, then soared by 829 bps to 5.08% in 2024, then retreated by 28 bps to 3.66% in 2025, then tumbled by 90 bps to 0.36% in 2026.
- Per Business Quant, the three latest GBTG EBITDA Margin figures stand at 0.36% (Q1 2026), 3.66% (Q4 2025), and 1.78% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 22.98% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 26.10% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 3.21% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 2.66% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 0.03% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 12.77% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 7.33% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 9.99% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 16.11% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 0.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 0.36% |
| Dec 31, 2025 | 3.66% |
| Sep 30, 2025 | 1.78% |
| Jun 30, 2025 | 5.39% |
| Mar 31, 2025 | 8.86% |
| Dec 31, 2024 | 5.08% |
| Sep 30, 2024 | 4.52% |
| Jun 30, 2024 | 6.72% |
| Mar 31, 2024 | 2.62% |
| Dec 31, 2023 | 0.55% |
| Sep 30, 2023 | -0.70% |
| Jun 30, 2023 | 0.34% |
| Mar 31, 2023 | -1.56% |
| Dec 31, 2022 | -7.21% |
| Sep 30, 2022 | -9.22% |
| Jun 30, 2022 | -3.91% |
| Mar 31, 2022 | -27.43% |
| Dec 31, 2021 | -67.25% |
| Sep 30, 2021 | -62.94% |
| Jun 30, 2021 | -74.51% |