Global Business Travel (GBTG) FCF Margin (2020 - 2026)

Global Business Travel's (GBTG) quarterly FCF Margin came in at 6.19% in Q1 2026, down 1038.0% year-on-year from 0.66% in Q1 2025, and down 477.14% quarter-over-quarter from 1.64% in Q4 2025.

Global Business Travel (GBTG) FCF Margin (2020 - 2026) Analysis & Trends

Global Business Travel's FCF Margin history runs 7 years deep, the most recent figure standing at 6.19% for Q1 2026.

  • On a quarterly basis, FCF Margin fell 1038.0% year-over-year to 6.19% in Q1 2026; TTM through Mar 2026 was 0.89%, a 598.0% decrease from a year earlier, with the FY2025 full-year figure at 3.83%, down 298.0% from the prior year.
  • FCF Margin slipped to 6.19% in Q1 2026 per GBTG's latest filing, from 1.64% in the prior quarter.
  • Across five years, FCF Margin topped out at 18.74% in Q3 2023 and bottomed at 50.0% in Q1 2022.
  • The 5-year median for FCF Margin is 3.93% (2024), against an average of 4.01%.
  • Across the five-year window, FCF Margin soared 11780 bps in 2022 and sank 1038 bps in 2026, its largest moves.
  • Year by year, FCF Margin stood at 4.74% in 2022, then soared by 223 bps to 5.83% in 2023, then retreated by 4 bps to 5.58% in 2024, then tumbled by 71 bps to 1.64% in 2025, then tumbled by 477 bps to 6.19% in 2026.
  • Per Business Quant, the three latest GBTG FCF Margin figures stand at 6.19% (Q1 2026), 1.64% (Q4 2025), and 5.64% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) FCF Margin (Qtr)
1 Booking Holdings 136.54 Bn 120.51 Bn 3.46 Bn 56.18%
2 Royal Caribbean Cruises 86.11 Bn 85.59 Bn 2.21 Bn 29.96%
3 Airbnb 82.27 Bn 70.26 Bn 2.10 Bn 63.78%
4 Yatra Online 55.46 Bn 55.47 Bn 10.44 Mn -7.15%
5 Viking Holdings 44.18 Bn 40.37 Bn 713.43 Mn 57.75%
6 Carnival 34.61 Bn 32.38 Bn - 26.34%
7 Expedia 31.38 Bn 28.88 Bn 3.05 Bn 109.37%
8 Norwegian Cruise Line Holdings 8.54 Bn 8.35 Bn 953.34 Mn -26.82%
9 MakeMyTrip 5.02 Bn 4.60 Bn 199.14 Mn 18.57%
10 Global Business Travel 4.83 Bn 4.43 Bn 490.00 Mn -6.19%

Historic Data

Download Data
DateValue
Mar 31, 2026 -6.19%
Dec 31, 2025 1.64%
Sep 30, 2025 5.64%
Jun 30, 2025 4.28%
Mar 31, 2025 4.19%
Dec 31, 2024 5.58%
Sep 30, 2024 9.88%
Jun 30, 2024 7.84%
Mar 31, 2024 3.93%
Dec 31, 2023 5.83%
Sep 30, 2023 18.74%
Jun 30, 2023 3.21%
Mar 31, 2023 -18.86%
Dec 31, 2022 -4.74%
Sep 30, 2022 -22.95%
Jun 30, 2022 -36.21%
Mar 31, 2022 -50.00%
Dec 31, 2021 -64.46%
Sep 30, 2021 -59.39%
Jun 30, 2021 -154.02%