Global Business Travel Ratios (2020-2026) | GBTG

Ratios Sep2020 Dec2020 Mar2021 Jun2021 Sep2021 Dec2021 Mar2022 Jun2022 Sep2022 Dec2022 Mar2023 Jun2023 Sep2023 Dec2023 Mar2024 Jun2024 Sep2024 Dec2024 Mar2025 Jun2025 Sep2025 Dec2025 Mar2026
Profitability
Gross Margin (Quarter)
37.91%35.53%39.72%50.57%59.05%55.33%54.08%58.13%58.95%58.32%56.65%59.84%60.48%60.30%59.73%62.80%61.65%59.94%56.82%58.33%
EBT Margin (Quarter)
-83.01%-69.54%-88.50%-32.86%-1.03%-16.80%-16.13%-6.06%-9.63%-1.75%-7.83%1.31%0.16%-12.40%-1.02%15.46%5.39%-5.93%7.20%1.31%
EBIT Margin (Quarter)
-74.51%-62.94%-67.25%-27.43%-3.91%-9.22%-7.21%-1.56%0.34%-0.70%0.55%2.62%6.72%4.52%5.08%8.86%5.39%1.78%3.66%0.36%
EBITDA Margin (Quarter)
-74.51%-62.94%-67.25%-27.43%-3.91%-9.22%-7.21%-1.56%0.34%-0.70%0.55%2.62%6.72%4.52%5.08%8.86%5.39%1.78%3.66%0.36%
Operating Margin (Quarter)
-74.51%-62.94%-67.25%-27.43%-3.91%-9.22%-7.21%-1.56%0.34%-0.70%0.55%2.62%6.72%4.52%5.08%8.86%5.39%1.78%3.66%0.36%
Net Margin (Quarter)
-35.29%1.13%-4.15%-0.30%4.32%-4.10%-4.93%-0.35%-2.36%-8.56%-3.11%4.16%-21.61%-2.71%12.08%2.06%-9.20%10.48%6.19%
FCF Margin (Quarter)
-154.02%-59.39%-64.46%-50.00%-36.21%-22.95%-4.74%-18.86%3.21%18.74%5.83%3.93%7.84%9.88%5.58%4.19%4.28%5.64%1.64%-6.19%
Efficiency
Assets Average (Quarter)
818.50M818.67M2,294.88M2,294.55M2,334.55M3,775.50M3,714.00M3,838.50M3,964.50M3,930.00M3,815.50M3,793.00M3,808.50M3,767.00M3,688.00M3,704.50M3,828.00M4,315.50M4,838.00M4,997.50M
Invested Capital (Quarter)
0.00M0.00M3.00M4.26M3.00M3.00M3.00M4.00M6.00M6.00M7.00M8.00M7.00M16.00M19.00M19.00M19.00M23.00M58.00M62.00M
Asset Utilization Ratio (Quarter)
1.161.400.280.430.570.430.500.540.550.580.600.610.620.630.660.660.640.580.560.59
Leverage & Solvency
Interest Coverage Ratio (Quarter)
-8.77-9.54-12.06-5.05-0.79-1.73-1.19-0.260.06-0.110.080.471.310.961.361.831.480.501.210.11
Debt Ratio (Quarter)
0.000.000.270.010.320.330.330.340.340.350.360.360.360.370.390.370.360.300.290.30
Times Interest Earned (Quarter)
-8.77-9.54-12.06-5.05-0.79-1.73-1.19-0.260.06-0.110.080.471.310.961.361.831.480.501.210.11
Valuation
Enterprise Value (Quarter)
-0.60M-0.87M-356.00M-0.08M-460.00M781.00M916.00M870.00M827.00M-429.00M-472.00M-472.00M-511.00M-519.00M-530.00M-546.00M-594.00M-422.00M-385.00M-392.00M
Return Ratios
Return on Sales (Quarter)
0.00%-0.01%-0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Return on Capital Employed (Quarter)
-23.13%-27.74%-12.00%-6.73%-3.75%-2.94%-1.63%-0.27%0.60%1.95%3.06%3.95%5.51%5.01%4.38%3.76%2.23%
Return on Invested Capital (Quarter)
-0.72%-0.38%-0.23%-0.12%-0.07%-0.05%-0.02%0.00%0.01%0.02%0.04%0.05%-0.07%-0.02%0.00%0.01%0.01%
Return on Assets (Quarter)
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%