InsiderClue
Stocks · Industrials · Transportation Services

Global Business Travel Group, Inc.

GBTG Clue Score52
United States Fiscal year ends December CIK 0001820872
$9.50 +0.00% Close, 29 Sep 2026
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Price $9.50 −3.16% Close, 29 Sep 2026

Closing prices at the end of each trading day, from 23 Nov 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue0.0Net income−0.0Fiscal year 2020Revenue793.0Operating income−747.0Net income−19.6Fiscal year 2021Revenue763.0 −3.8%Operating income−560.0Net income6.2Fiscal year 2022Revenue1,851.0 +142.6%Operating income−198.0Net income−229.0 −3,793.6%EPS, diluted−0.51Fiscal year 2023Revenue2,290.0 +23.7%Operating income−8.0Net income−136.0EPS, diluted−0.30Fiscal year 2024Revenue2,423.0 +5.8%Operating income115.0Net income−134.0EPS, diluted−0.30Fiscal year 2025Revenue2,718.0 +12.2%Operating income130.0Net income111.0EPS, diluted0.22
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.0 793.0 763.0 1,851.0 2,290.0 2,423.0 2,718.0
Growth −3.8% +142.6% +23.7% +5.8% +12.2%
Operating income n/a −747.0 −560.0 −198.0 −8.0 115.0 130.0
Net income −0.0 −19.6 6.2 −229.0 −136.0 −134.0 111.0
Growth −3,793.6%
EPS, diluted n/a n/a n/a −0.51 −0.30 −0.30 0.22
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Fiscal year 2020Operating margin−94.2%Net margin−2.5%Free cash flow margin−37.5%Fiscal year 2021Operating margin−73.4%Net margin0.8%Free cash flow margin−72.9%Fiscal year 2022Operating margin−10.7%Net margin−12.4%Free cash flow margin−26.4%Fiscal year 2023Operating margin−0.3%Net margin−5.9%Free cash flow margin2.1%Fiscal year 2024Operating margin4.7%Net margin−5.5%Free cash flow margin6.8%Fiscal year 2025Operating margin4.8%Net margin4.1%Free cash flow margin3.8%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a −94.2% −73.4% −10.7% −0.3% 4.7% 4.8%
Net margin n/a −2.5% 0.8% −12.4% −5.9% −5.5% 4.1%
Free cash flow margin n/a −37.5% −72.9% −26.4% 2.1% 6.8% 3.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow0.0Fiscal year 2020Operating cash flow−250.0Capital expenditure−47.0Free cash flow−297.0Fiscal year 2021Operating cash flow−512.0Capital expenditure−44.0Free cash flow−556.0Fiscal year 2022Operating cash flow−394.0Capital expenditure−94.0Free cash flow−488.0Buybacks0.0Fiscal year 2023Operating cash flow162.0Capital expenditure−113.0Free cash flow49.0Buybacks0.0Fiscal year 2024Operating cash flow272.0Capital expenditure−107.0Free cash flow165.0 +236.7%Buybacks−55.0Fiscal year 2025Operating cash flow233.0Capital expenditure−129.0Free cash flow104.0 −37.0%Buybacks−73.0
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.0 −250.0 −512.0 −394.0 162.0 272.0 233.0
Capital expenditure n/a −47.0 −44.0 −94.0 −113.0 −107.0 −129.0
Free cash flow n/a −297.0 −556.0 −488.0 49.0 165.0 104.0
Growth +236.7% −37.0%
Buybacks n/a n/a n/a 0.0 0.0 −55.0 −73.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash499.0Shareholders’ equity0.0Fiscal year 2020Cash0.3Shareholders’ equity−103.9Fiscal year 2021Cash516.0Total debt1,023.0Net cash (debt)−507.0Shareholders’ equity1,333.0Debt to equity0.77Fiscal year 2022Cash303.0Total debt1,222.0Net cash (debt)−919.0Shareholders’ equity152.0Debt to equity8.04Fiscal year 2023Cash476.0Total debt1,362.0Net cash (debt)−886.0Shareholders’ equity1,208.0Debt to equity1.13Fiscal year 2024Cash536.0Total debt1,384.0Net cash (debt)−848.0Shareholders’ equity1,051.0Debt to equity1.32Fiscal year 2025Cash434.0Total debt1,418.0Net cash (debt)−984.0Shareholders’ equity1,608.0Debt to equity0.88
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 499.0 0.3 516.0 303.0 476.0 536.0 434.0
Total debt n/a n/a 1,023.0 1,222.0 1,362.0 1,384.0 1,418.0
Net cash (debt) n/a n/a −507.0 −919.0 −886.0 −848.0 −984.0
Shareholders’ equity 0.0 −103.9 1,333.0 152.0 1,208.0 1,051.0 1,608.0
Debt to equity n/a n/a 0.77 8.04 1.13 1.32 0.88

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
499.0 0.3 516.0 303.0 476.0 536.0 434.0
n/a n/a 381.0 765.0 726.0 571.0 869.0
n/a n/a 216.0 218.0 232.0 232.0 308.0
n/a 1,028.0 1,358.0 1,188.0 1,212.0 1,201.0 1,671.0
0.0 818.4 3,771.0 3,728.0 3,751.0 3,624.0 4,916.0
Growth +44,140,604.4% +360.8% −1.1% +0.6% −3.4% +35.7%
Liabilities
n/a n/a 3.0 3.0 7.0 19.0 58.0
n/a n/a 1,020.0 1,219.0 1,355.0 1,365.0 1,360.0
calc n/a n/a 1,023.0 1,222.0 1,362.0 1,384.0 1,418.0
n/a 105.5 2,277.0 2,357.0 2,539.0 2,567.0 3,255.0
Equity
−0.0 −103.9 −1,065.0 −175.0 −1,437.0 −1,575.0 −1,466.0
0.0 −103.9 1,333.0 152.0 1,208.0 1,051.0 1,608.0
Growth −5,605,746.2% −88.6% +694.7% −13.0% +53.0%
Per share and net cash
calc n/a n/a −507.0 −919.0 −886.0 −848.0 −984.0
n/a n/a n/a n/a 467.1 470.9 524.0
calc n/a n/a n/a n/a 2.59 2.23 3.07

Lines marked calc are worked out here from filed figures; point at one for how.