Global Business Travel (GBTG) Return on Capital Employed [ROCE] (2022 - 2026)
Global Business Travel (GBTG) reported Return on Capital Employed [ROCE] of 1.90% for Q2 2026, down 3.11 percentage points from 5.01% a year earlier and down 0.33 percentage points from the prior quarter.
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Analysis
Global Business Travel (GBTG) Return on Capital Employed [ROCE] (2022 - 2026) Analysis & Trends
For FY2025, Global Business Travel posted Return on Capital Employed [ROCE] of 4.50%, up 0.54 percentage points from FY2024.
- Return on Capital Employed [ROCE] has increased for five consecutive years, with a five-year change of +188.07 percentage points (FY2020 to FY2025).
- By year, Return on Capital Employed [ROCE] came in at 3.96% in FY2024 (+4.23 pp), -0.28% in FY2023 (+6.38 pp), -6.65% in FY2022 (+28.93 pp) and -35.59% in FY2021 (+147.99 pp).
- The Q2 2026 figure ranks as the lowest quarterly Return on Capital Employed [ROCE] since Q1 2024.
- Year over year, Return on Capital Employed [ROCE] has now declined in each of the last three quarters, with an average year-over-year change of +1.45 percentage points over the last eight quarters.
- The high point for year-over-year Return on Capital Employed [ROCE] in five years was Q2 2023 (a gain of 24.79 percentage points); the low point was Q1 2026 (a drop of 3.28 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 2.23% (Q1 2026), 3.76% (Q4 2025) and 4.38% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.60 Bn | 91.65 Bn | 1.55 Bn | 21.18% |
| 2 | Royal Caribbean Cruises | 74.32 Bn | 71.90 Bn | 2.29 Bn | 16.12% |
| 3 | Hilton Worldwide Holdings | 72.10 Bn | 68.58 Bn | 3.08 Bn | 25.17% |
| 4 | Viking Holdings | 36.31 Bn | 21.43 Bn | 996.62 Mn | 21.91% |
| 5 | Carnival | 34.66 Bn | 27.87 Bn | - | 11.28% |
| 6 | Intercontinental Hotels | 26.64 Bn | 22.19 Bn | - | - |
| 7 | Trip.com | 24.74 Bn | -20.81 Bn | 1.84 Bn | 6.12% |
| 8 | Hyatt Hotels | 14.98 Bn | 12.46 Bn | 388.00 Mn | -49.45% |
| 9 | H World | 12.83 Bn | 3.76 Bn | - | 15.35% |
| 10 | Global Business Travel | 4.96 Bn | 3.19 Bn | 514.00 Mn | 1.90% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.90% |
| 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% |
API Access
Global Business Travel Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=GBTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "GBTG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=GBTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();