Global Business Travel (GBTG) Research & Development (2021 - 2026)
Global Business Travel (GBTG) posted quarterly Research & Development of $126.0 million for Q1 2026, up 5.0% year-over-year from $120.0 million in Q1 2025, and up 75.0% quarter-over-quarter from $72.0 million in Q4 2025.
Global Business Travel (GBTG) Research & Development (2021 - 2026) Analysis & Trends
Global Business Travel's Research & Development history runs 6 years deep, the most recent figure standing at $126.0 million for Q1 2026.
- In Q1 2026, Research & Development rose 5.0% year-over-year to $126.0 million; the TTM figure through Mar 2026 stood at $448.0 million (down 5.88% YoY), while the FY2025 annual figure was $442.0 million, changed 0.0% from the prior year.
- Research & Development for Q1 2026 stood at $126.0 million, up from $72.0 million in the prior quarter.
- The five-year high for Research & Development was $145.0 million in Q4 2024, with the low at $72.0 million in Q4 2025.
- The 5-year median for Research & Development is $108.0 million (2024), against an average of $110.2 million.
- The sharpest annual moves came in 2022 and 2025: Research & Development soared 61.9% in 2022, then slumped 50.34% in 2025.
- Global Business Travel's Research & Development stood at $143.0 million in 2022, then decreased by 20.98% to $113.0 million in 2023, then advanced by 28.32% to $145.0 million in 2024, then plunged by 50.34% to $72.0 million in 2025, then jumped by 75.0% to $126.0 million in 2026.
- Business Quant data shows GBTG's Research & Development at $126.0 million in Q1 2026, $72.0 million in Q4 2025, and $130.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.57 Bn | 142.35 Bn | 4.98 Bn | 263.00 Mn |
| 2 | Airbnb | 106.73 Bn | 94.66 Bn | 2.98 Bn | 875.00 Mn |
| 3 | Royal Caribbean Cruises | 81.46 Bn | 80.53 Bn | 2.29 Bn | - |
| 4 | Viking Holdings | 44.84 Bn | 41.03 Bn | 713.43 Mn | - |
| 5 | Expedia | 39.09 Bn | 31.96 Bn | 3.91 Bn | 2.12 Bn |
| 6 | Carnival | 38.41 Bn | 36.17 Bn | - | - |
| 7 | Trip.com | 29.10 Bn | 17.41 Bn | 1.86 Bn | -543.00 Mn |
| 8 | Norwegian Cruise Line Holdings | 8.48 Bn | 8.27 Bn | 1.05 Bn | - |
| 9 | MakeMyTrip | 5.86 Bn | 5.09 Bn | 212.91 Mn | 48.79 Mn |
| 10 | Global Business Travel | 4.86 Bn | 4.34 Bn | 514.00 Mn | 160.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 160.00 Mn |
| Mar 31, 2026 | 126.00 Mn |
| Dec 31, 2025 | 72.00 Mn |
| Sep 30, 2025 | 130.00 Mn |
| Jun 30, 2025 | 120.00 Mn |
| Mar 31, 2025 | 120.00 Mn |
| Dec 31, 2024 | 145.00 Mn |
| Sep 30, 2024 | 112.00 Mn |
| Jun 30, 2024 | 99.00 Mn |
| Mar 31, 2024 | 108.00 Mn |
| Dec 31, 2023 | 113.00 Mn |
| Sep 30, 2023 | 103.00 Mn |
| Jun 30, 2023 | 102.00 Mn |
| Mar 31, 2023 | 103.00 Mn |
| Dec 31, 2022 | 143.00 Mn |
| Sep 30, 2022 | 102.00 Mn |
| Jun 30, 2022 | 85.00 Mn |
| Mar 31, 2022 | 90.00 Mn |
| Dec 31, 2021 | 125.00 Mn |
| Sep 30, 2021 | 63.00 Mn |