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| Date | Value |
|---|---|
| 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% |