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

Global Business Travel (GBTG) recorded quarterly Return on Capital Employed of 2.23% in Q1 2026, down 40.8% quarter-over-quarter from 3.76% in Q4 2025, and down 328.0% on a YoY basis from 0.98% in Q1 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.

  • In Q1 2026, Return on Capital Employed fell 328.0% year-over-year to 2.23%; the TTM figure through Mar 2026 stood at 2.23% (down 328.0% YoY), while the FY2025 annual figure was 4.5%, up 54.0% from the prior year.
  • Return on Capital Employed was 2.23% for Q1 2026 at Global Business Travel, down from 3.76% in the prior quarter.
  • In the past five years, Return on Capital Employed ranged from a high of 5.51% in Q1 2025 to a low of 27.74% in Q2 2022.
  • Historically, Return on Capital Employed has averaged 2.81% across 5 years, with a median of 0.6% in 2024.
  • The sharpest annual moves came in 2023 and 2026: Return on Capital Employed surged 2479 bps in 2023, then plunged 328 bps in 2026.
  • A 5-year view of Return on Capital Employed shows it 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 plunged by 41 bps to 2.23% in 2026.
  • The last three Return on Capital Employed figures came in at 2.23% (Q1 2026), 3.76% (Q4 2025), and 4.38% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 Booking Holdings 131.01 Bn 114.99 Bn 3.46 Bn 104.07%
2 Airbnb 79.86 Bn 67.85 Bn 2.10 Bn 31.79%
3 Royal Caribbean Cruises 75.60 Bn 75.08 Bn 2.21 Bn 16.68%
4 Carnival 37.80 Bn 36.39 Bn - 11.60%
5 Expedia 27.88 Bn 22.09 Bn 3.05 Bn 35.97%
6 Norwegian Cruise Line Holdings 8.56 Bn 8.38 Bn 953.34 Mn 0.57%
7 Global Business Travel 4.79 Bn 4.35 Bn 714.00 Mn 2.23%
8 Travel & Leisure 4.51 Bn 4.25 Bn 926.00 Mn -
9 Trip.com 4.42 Bn -788.25 Mn 1.74 Bn 8.24%
10 MakeMyTrip 2.12 Bn 1.35 Bn - 10.65%

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%