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| Date | Value |
|---|---|
| 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% |