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| 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% |