Global Business Travel (GBTG) Net Margin (2020 - 2026)
Global Business Travel (GBTG) recorded quarterly Net Margin of 6.19% in Q1 2026, down 40.93% quarter-over-quarter from 10.48% in Q4 2025, and down 589.0% on a YoY basis from 1.27% in Q1 2025.
Global Business Travel (GBTG) Net Margin (2020 - 2026) Analysis & Trends
Global Business Travel's Net Margin history runs 7 years deep, the most recent figure standing at 6.19% for Q1 2026.
- In Q1 2026, Net Margin fell 589.0% year-over-year to 6.19%; the TTM figure through Mar 2026 stood at 2.93% (up 474.0% YoY), while the FY2025 annual figure was 4.01%, up 971.0% from the prior year.
- Net Margin was 6.19% for Q1 2026 at Global Business Travel, down from 10.48% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 12.08% in Q1 2025 to a low of 21.61% in Q3 2024.
- Historically, Net Margin has averaged 1.18% across 5 years, with a median of 1.79% in 2022.
- The sharpest annual moves came in 2022 and 2023: Net Margin surged 3962 bps in 2022, then sank 669 bps in 2023.
- A 5-year view of Net Margin shows it stood at 4.93% in 2022, then plunged by 74 bps to 8.56% in 2023, then soared by 68 bps to 2.71% in 2024, then soared by 487 bps to 10.48% in 2025, then sank by 41 bps to 6.19% in 2026.
- The last three Net Margin figures came in at 6.19% (Q1 2026), 10.48% (Q4 2025), and 9.2% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 19.58% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 5.97% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 21.34% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 4.27% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | -0.35% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 4.49% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 6.19% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 8.22% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 12.06% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | 9.69% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 | -1.22% |
| Dec 31, 2021 | -2.28% |
| Sep 30, 2021 | 1.13% |
| Jun 30, 2021 | -35.29% |
| Dec 31, 2020 | -1.23% |