Global Business Travel (GBTG) Net Margin (2020 - 2026)
Global Business Travel (GBTG) reported Net Margin of 1.72% for Q2 2026, down 0.34 percentage points from 2.06% a year earlier and down 4.47 percentage points from the prior quarter.
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Analysis
Global Business Travel (GBTG) Net Margin (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Global Business Travel's Net Margin came in at 2.77%, up 5.11 percentage points year-over-year; for FY2025, it was 4.01%, up 9.71 percentage points from FY2024.
- Net Margin has a five-year change of +6.49 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at -5.70% in FY2024 (-2.94 pp), -2.75% in FY2023 (-1.40 pp) and -1.35% in FY2022.
- Five-year quarterly Net Margin spans a low of -21.61% in Q3 2024 and a high of 12.08% in Q1 2025.
- Year over year, Net Margin gained in four of the last seven quarters, with an average year-over-year change of +5.47 percentage points.
- The high point for year-over-year Net Margin in five years was Q1 2025 (a gain of 15.19 percentage points); the low point was Q3 2022 (a drop of 9.76 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 6.19% (Q1 2026), 10.48% (Q4 2025) and -9.20% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 94.30 Bn | 92.35 Bn | 1.55 Bn | 10.83% |
| 2 | Hilton Worldwide Holdings | 73.03 Bn | 69.51 Bn | 3.08 Bn | 14.43% |
| 3 | Royal Caribbean Cruises | 69.73 Bn | 67.31 Bn | 2.29 Bn | 23.34% |
| 4 | Viking Holdings | 35.48 Bn | 20.60 Bn | 996.62 Mn | 26.82% |
| 5 | Carnival | 33.80 Bn | 27.01 Bn | - | 22.76% |
| 6 | Intercontinental Hotels | 26.86 Bn | 22.41 Bn | - | - |
| 7 | Trip.com | 25.10 Bn | -20.45 Bn | 1.84 Bn | -15.64% |
| 8 | Hyatt Hotels | 15.28 Bn | 12.76 Bn | 388.00 Mn | 6.01% |
| 9 | H World | 13.25 Bn | 4.18 Bn | - | 24.00% |
| 10 | Global Business Travel | 4.96 Bn | 3.19 Bn | 514.00 Mn | 1.72% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.72% |
| Mar 31, 2026 | 6.19% |
| Dec 31, 2025 | 10.48% |
| Sep 30, 2025 | -9.20% |
| Jun 30, 2025 | 2.06% |
| Mar 31, 2025 | 12.08% |
| Dec 31, 2024 | -2.71% |
| Sep 30, 2024 | -21.61% |
| Jun 30, 2024 | 4.16% |
| Mar 31, 2024 | -3.11% |
| Dec 31, 2023 | -8.56% |
| Jun 30, 2023 | -2.36% |
| Mar 31, 2023 | -0.35% |
| Dec 31, 2022 | -4.93% |
| Sep 30, 2022 | -4.10% |
| Jun 30, 2022 | 4.32% |
| Mar 31, 2022 | -1.52% |
| Dec 31, 2021 | -11.41% |
| Sep 30, 2021 | 5.66% |
| Jun 30, 2021 | 0.86% |
API Access
Global Business Travel Net 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=net-margin&ticker=GBTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=GBTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();