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
DateValue
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