Global Business Travel (GBTG) FCF Margin (2020 - 2026)
Global Business Travel (GBTG) recorded FCF Margin of 11.84% in Q2 2026, up 7.56 percentage points from 4.28% a year earlier and up 18.03 percentage points from the prior quarter.
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Analysis
Global Business Travel (GBTG) FCF Margin (2020 - 2026) Analysis & Trends
On a TTM basis, Global Business Travel's FCF Margin came in at 3.21% as of Jun 30, 2026, down 2.73 percentage points year-over-year; for FY2025, it was 3.83%, down 2.98 percentage points from FY2024.
- Annual FCF Margin has a five-year change of +41.28 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 6.81% in FY2024 (+4.67 pp), 2.14% in FY2023 (+28.50 pp), -26.36% in FY2022 (+46.51 pp) and -72.87% in FY2021 (-35.42 pp).
- The Q2 2026 figure is the highest quarterly FCF Margin since Q3 2023.
- On a year-over-year basis, FCF Margin rose in two of the last eight quarters, with an average year-over-year change of -2.93 percentage points.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 117.80 percentage points in Q2 2022, against a drop of 32.93 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at -6.19% (Q1 2026), 1.64% (Q4 2025) and 5.64% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 94.30 Bn | 92.35 Bn | 1.55 Bn | 11.26% |
| 2 | Hilton Worldwide Holdings | 73.03 Bn | 69.51 Bn | 3.08 Bn | 13.77% |
| 3 | Royal Caribbean Cruises | 69.73 Bn | 67.31 Bn | 2.29 Bn | -18.15% |
| 4 | Viking Holdings | 35.48 Bn | 20.60 Bn | 996.62 Mn | 51.36% |
| 5 | Carnival | 33.80 Bn | 27.01 Bn | - | 8.44% |
| 6 | Intercontinental Hotels | 26.86 Bn | 22.41 Bn | - | - |
| 7 | Trip.com | 25.10 Bn | -20.45 Bn | 1.84 Bn | - |
| 8 | Hyatt Hotels | 15.28 Bn | 12.76 Bn | 388.00 Mn | 1.53% |
| 9 | H World | 13.25 Bn | 4.18 Bn | - | 50.00% |
| 10 | Global Business Travel | 4.96 Bn | 3.19 Bn | 514.00 Mn | 11.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.84% |
| 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% |
API Access
Global Business Travel FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=GBTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "GBTG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=GBTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();