Global Business Travel (GBTG) Return on Capital Employed (2022 - 2026)

Global Business Travel's (GBTG) quarterly Return on Capital Employed came in at 2.23% in Q1 2026, down 328.0% year-on-year from 0.98% in Q1 2025, and down 40.8% quarter-over-quarter from 3.76% in Q4 2025.

Global Business Travel (GBTG) Return on Capital Employed (2022 - 2026) Analysis & Trends

Global Business Travel's Return on Capital Employed history runs 5 years deep, the most recent figure standing at 2.23% for Q1 2026.

  • On a quarterly basis, Return on Capital Employed fell 328.0% year-over-year to 2.23% in Q1 2026; TTM through Mar 2026 was 2.23%, a 328.0% decrease from a year earlier, with the FY2025 full-year figure at 4.5%, up 54.0% from the prior year.
  • Return on Capital Employed eased to 2.23% in Q1 2026 per GBTG's latest filing, from 3.76% in the prior quarter.
  • Across five years, Return on Capital Employed topped out at 5.51% in Q1 2025 and bottomed at 27.74% in Q2 2022.
  • The 5-year median for Return on Capital Employed is 0.6% (2024), against an average of 2.81%.
  • Across the five-year window, Return on Capital Employed jumped 2479 bps in 2023 and plunged 328 bps in 2026, its largest moves.
  • Year by year, Return on Capital Employed stood at 6.73% in 2022, then jumped by 96 bps to 0.27% in 2023, then soared by 1575 bps to 3.95% in 2024, then retreated by 5 bps to 3.76% in 2025, then slumped by 41 bps to 2.23% in 2026.
  • Per Business Quant, the three latest GBTG Return on Capital Employed figures stand at 2.23% (Q1 2026), 3.76% (Q4 2025), and 4.38% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 Booking Holdings 136.54 Bn 120.51 Bn 3.46 Bn 104.07%
2 Royal Caribbean Cruises 86.11 Bn 85.59 Bn 2.21 Bn 16.68%
3 Airbnb 82.27 Bn 70.26 Bn 2.10 Bn 31.79%
4 Yatra Online 55.46 Bn 55.47 Bn 10.44 Mn -1.24%
5 Viking Holdings 44.18 Bn 40.37 Bn 713.43 Mn 54.76%
6 Carnival 34.61 Bn 32.38 Bn - 11.61%
7 Expedia 31.38 Bn 28.88 Bn 3.05 Bn 35.97%
8 Norwegian Cruise Line Holdings 8.54 Bn 8.35 Bn 953.34 Mn 9.40%
9 MakeMyTrip 5.02 Bn 4.60 Bn 199.14 Mn 10.65%
10 Global Business Travel 4.83 Bn 4.43 Bn 490.00 Mn 2.23%

Historic Data

Download Data
DateValue
Mar 31, 2026 2.23%
Dec 31, 2025 3.76%
Sep 30, 2025 4.38%
Jun 30, 2025 5.01%
Mar 31, 2025 5.51%
Dec 31, 2024 3.95%
Sep 30, 2024 3.06%
Jun 30, 2024 1.95%
Mar 31, 2024 0.60%
Dec 31, 2023 -0.27%
Sep 30, 2023 -1.63%
Jun 30, 2023 -2.94%
Mar 31, 2023 -3.75%
Dec 31, 2022 -6.73%
Sep 30, 2022 -12.00%
Jun 30, 2022 -27.74%
Mar 31, 2022 -23.13%