Global Business Travel (GBTG) Research & Development (2021 - 2026)
Global Business Travel's (GBTG) quarterly Research & Development came in at $126.0 million in Q1 2026, up 5.0% year-on-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.
- On a quarterly basis, Research & Development rose 5.0% year-over-year to $126.0 million in Q1 2026; TTM through Mar 2026 was $448.0 million, a 5.88% decrease from a year earlier, with the FY2025 full-year figure at $442.0 million, changed 0.0% from the prior year.
- Research & Development climbed to $126.0 million in Q1 2026 per GBTG's latest filing, from $72.0 million in the prior quarter.
- Across five years, Research & Development topped out at $145.0 million in Q4 2024 and bottomed 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.
- Across the five-year window, Research & Development soared 61.9% in 2022 and tumbled 50.34% in 2025, its largest moves.
- Year by year, Research & Development stood at $143.0 million in 2022, then slipped by 20.98% to $113.0 million in 2023, then climbed by 28.32% to $145.0 million in 2024, then tumbled by 50.34% to $72.0 million in 2025, then surged by 75.0% to $126.0 million in 2026.
- Per Business Quant, the three latest GBTG Research & Development figures stand at $126.0 million (Q1 2026), $72.0 million (Q4 2025), and $130.0 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 240.00 Mn |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | - |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 751.00 Mn |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 379,000.00 |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | - |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | - |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 324.00 Mn |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | - |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 42.07 Mn |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 126.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 59.00 Mn |