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MARKETS / NYSE / GBTG
NYSE · TRANSPORTATION SERVICES · MID CAP

Global Business Travel Group, Inc. GBTG

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.7B
▲ 12.2% YoY
$111.0M
$104.0M
▼ 37.0% YoY
In brief

What this company does

Amex GBT's marketplace connects travel suppliers, including over 700 airlines, 160 rail providers, and 1.3 million hotel properties, with business clients and travelers. As of December 31, 2025, it had over 27,000 employees worldwide with a proprietary presence or operations in 49 countries. No single client accounted for more than 2% of its revenue in 2025. Travel Revenues, which include revenue relating to servicing a travel transaction such as air, hotel, car rental, and rail bookings, reservations, cancellations, exchanges or refunds, comprised 79% of its total revenue in 2025. Product and Professional Services Revenues, which are not directly driven by transaction volume, comprised 21% of its total revenue in 2025. Through CWTSatoTravel, it manages and provides official travel policy-compliant services and leisure travel to military and government agencies and related organizations subject to government regulations, policies and programs. Since its formation in 2014, it has invested capital to create a global platform that serves travel distribution, servicing and business travel programs.

Written from the business description in Global Business Travel Group, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 9 March 2026. Every sentence was checked against that document before publication.

Growth
USD 2.7B
Revenue, FY2025 · full 7-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.7 · Net income 0.1
1.00B2.00B-0.25B-0.50B2019202020212022202320242025
Compound annual growth
+13.7%
+27.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +27.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
4 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 4.8% · Net 4.1%
-50%2019202020212022202320242025
ROE
FY2021 · ROE 1.0%
-50%2019202020212022202320242025

Cash & shareholders
USD 73.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 104.0
80M160M-200M-400M2019202020212022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 73.0
25.0M50.0M2022202320242025

USD 73.0M in buybacks went back to shareholders.

Total assetsUSD 4.9B
EquityUSD 1.6B
CashUSD 434.0M
Gross debtUSD 1.4B
Net debtUSD 984.0M
Current ratio1.14×

Net debt stands at 61% of equity.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B2.72.42.31.90.80.80.0
Operating income $B0.10.1−0.0−0.2−0.6−0.7·
EBITDA $B0.30.30.2−0.0−0.4−0.6·
Income tax $B0.00.1−0.0−0.1−0.2−0.1·
Net income $B0.1−0.1−0.1−0.2−0.5−0.6−0.0
Free cash flow $B0.10.20.0−0.5−0.6−0.3·
EPS, diluted $0.22−0.30−0.30−0.51···
Dividend / sh $·······
Payout %·······
ROE %····1.0·−99.9

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 25 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 51 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityTransportation Services
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2019

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