Global Business Travel (GBTG) Tax Rate (2024 - 2026)
Global Business Travel (GBTG) recorded Tax Rate of 13.33% in Q2 2026, down 48.43 percentage points from 61.76% a year earlier but up 395.15 percentage points from the prior quarter.
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Analysis
Global Business Travel (GBTG) Tax Rate (2024 - 2026) Analysis & Trends
On a TTM basis, Global Business Travel's Tax Rate came in at -97.67% as of Jun 30, 2026, down 311.67 percentage points year-over-year; for FY2025, it came in at 27.21%, up 120.17 percentage points from FY2024.
- Annual Tax Rate has a five-year change of +8.11 percentage points (FY2020 to FY2025).
- Across earlier years, Tax Rate came in at -92.96% in FY2024 (-99.16 pp), 6.21% in FY2023 (-15.05 pp), 21.25% in FY2022 (-7.23 pp) and 28.48% in FY2021 (+9.38 pp).
- Quarterly Tax Rate has ranged from -2600.00% in Q2 2024 to 337.50% in Q1 2024 over the past five years.
- On a year-over-year basis, Tax Rate rose in three of the last eight quarters, with an average year-over-year change of +221.92 percentage points.
- Peak year-over-year performance for Tax Rate in the last five years was a gain of 2661.76 percentage points in Q2 2025, against a drop of 2603.51 percentage points in Q2 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at -381.82% (Q1 2026), -45.61% (Q4 2025) and -60.00% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 92.75 Bn | 90.79 Bn | 1.55 Bn | 26.63% |
| 2 | Hilton Worldwide Holdings | 71.81 Bn | 68.29 Bn | 3.08 Bn | 29.12% |
| 3 | Royal Caribbean Cruises | 71.17 Bn | 68.75 Bn | 2.29 Bn | 1.22% |
| 4 | Viking Holdings | 35.31 Bn | 20.44 Bn | 996.62 Mn | - |
| 5 | Carnival | 33.05 Bn | 26.25 Bn | - | 0.83% |
| 6 | Intercontinental Hotels | 26.49 Bn | 22.05 Bn | - | - |
| 7 | Trip.com | 25.40 Bn | -20.15 Bn | 1.84 Bn | - |
| 8 | Hyatt Hotels | 14.95 Bn | 12.43 Bn | 388.00 Mn | 40.11% |
| 9 | H World | 13.15 Bn | 4.07 Bn | - | - |
| 10 | Global Business Travel | 4.96 Bn | 3.19 Bn | 514.00 Mn | 13.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.33% |
| Jun 30, 2025 | 61.76% |
| Mar 31, 2025 | 21.88% |
| Mar 31, 2024 | 337.50% |
API Access
Global Business Travel Tax Rate 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=tax-rate&ticker=GBTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=GBTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();