Global Business Travel (GBTG) Net Margin (2020 - 2026)
Global Business Travel (GBTG) posted quarterly Net Margin of 6.19% for Q1 2026, down 589.0% year-over-year from 1.27% in Q1 2025, and down 40.93% quarter-over-quarter from 10.48% in Q4 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 for Q1 2026 stood at 6.19%, down from 10.48% in the prior quarter.
- The five-year high for Net Margin was 12.08% in Q1 2025, with the low at 21.61% in Q3 2024.
- The 5-year median for Net Margin is 1.36% (2023), against an average of 1.12%.
- The sharpest annual moves came in 2022 and 2023: Net Margin jumped 3962 bps in 2022, then plunged 669 bps in 2023.
- Global Business Travel's Net Margin stood at 4.93% in 2022, then tumbled by 74 bps to 8.56% in 2023, then surged by 68 bps to 2.71% in 2024, then surged by 487 bps to 10.48% in 2025, then plunged by 41 bps to 6.19% in 2026.
- Business Quant data shows GBTG's Net Margin at 6.19% in Q1 2026, 10.48% in Q4 2025, and 9.2% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 26.52% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 22.62% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 23.51% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 17.99% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 8.07% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 20.28% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 33.60% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 8.43% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 3.19% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 1.72% |
Historic Data
Download 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 | -0.30% |
| Dec 31, 2021 | -4.15% |
| Sep 30, 2021 | 1.13% |
| Jun 30, 2021 | -35.29% |