Global Business Travel Group, Inc. (GBTG) Key Metrics
GBTG valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $4.96B
- Enterprise value
- $6.02B
- P/E (TTM)
- 59.4
- Forward P/E
- 14.4
- PEG ratio
- —
- Price / sales
- 1.6 10-yr median 1.5
- Price / book
- 3.0 10-yr median 3.3
- EV / EBITDA
- 16.4 10-yr median 20.6
- Dividend yield
- —
- Beta
- 0.96
GBTG key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsGBTG valuation Price multiples at each fiscal year-end price.
GBTG returns How much profit the business earns on the capital it uses.
GBTG per-share figures Results divided by the shares outstanding at year-end.
GBTG financial health Debt, liquidity and how easily interest is covered.
GBTG efficiency & capital use Working capital cycle and where the cash goes.
GBTG valuation history
GBTG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
GBTG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
GBTG cash returned to shareholders
GBTG price vs earnings per share
GBTG key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $4.01B | $4.29B | $2.95B | $2.83B | — | — | — | — |
| Enterprise value | $5.08B | $5.22B | $3.91B | $3.83B | — | — | — | — |
| P/E ratio | 36.7 | — | — | — | — | — | — | — |
| Price / sales | 1.5 | 1.8 | 1.3 | 1.5 | — | — | — | — |
| Price / book | 2.5 | 4.1 | 2.4 | 18.6 | — | — | — | — |
| Price / free cash flow | 38.5 | 26.0 | 60.3 | — | — | — | — | — |
| Price / operating cash flow | 17.2 | 15.8 | 18.2 | — | — | — | — | — |
| EV / sales | 1.9 | 2.2 | 1.7 | 2.1 | — | — | — | — |
| EV / EBITDA | 11.7 | 23.5 | 20.6 | — | — | — | — | — |
| EV / free cash flow | 48.8 | 31.6 | 79.8 | — | — | — | — | — |
| Earnings yield | 2.7% | −3.2% | −2.1% | −0.9% | — | — | — | — |
| Free cash flow yield | 2.6% | 3.8% | 1.7% | −17.2% | — | — | — | — |
| Dividend yield | — | — | 0.0% | 0.3% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 1.8% | 1.3% | 0.5% | 6.2% | — | — | — | — |
| Share price at fiscal year-end | $7.65 | $9.28 | $6.45 | $6.75 | — | — | — | — |
| Per share | ||||||||
| Revenue per share | $5.19 | $5.24 | $5.00 | $4.42 | $1.82 | $1.89 | $16.46 | $14.75 |
| Earnings per share | $0.21 | −$0.30 | −$0.14 | −$0.06 | −$1.11 | −$1.46 | $1.04 | $0.15 |
| Operating cash flow per share | $0.45 | $0.59 | $0.35 | −$0.94 | −$1.22 | −$0.60 | $1.76 | $1.06 |
| Free cash flow per share | $0.20 | $0.36 | $0.11 | −$1.16 | −$1.33 | −$0.71 | $1.28 | $0.55 |
| Cash per share | $0.83 | $1.16 | $1.04 | $0.72 | $1.23 | $1.39 | $3.85 | — |
| Book value per share | $3.07 | $2.27 | $2.64 | $0.36 | $3.56 | $2.34 | $13.03 | — |
| Tangible book value per share | −$1.75 | −$1.36 | −$1.21 | −$3.99 | −$1.46 | −$0.94 | $1.92 | — |
| Dividends per share | — | — | $0.00 | $0.02 | $0.00 | $0.00 | $0.45 | — |
| Capex per share | $0.25 | $0.23 | $0.25 | $0.22 | $0.10 | $0.11 | $0.48 | $0.51 |
| Debt per share | $2.88 | $3.16 | $3.13 | $3.11 | $2.64 | $1.67 | $1.84 | — |
| Shares outstanding | 523.6M | 462.7M | 458.1M | 419.2M | 419.2M | 419.2M | 128.8M | 128.8M |
| Change in shares outstanding | +13.2% | +1.0% | +9.3% | 0.0% | 0.0% | +225.6% | 0.0% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 8.2% | −12.2% | −9.3% | −3.0% | −37.8% | −46.2% | 8.0% | — |
| Return on invested capital (ROIC) | 5.7% | 4.4% | −0.4% | −9.7% | −27.8% | −46.9% | 10.1% | — |
| Return on assets (ROA) | 2.6% | −3.7% | −1.6% | −0.6% | −13.8% | −21.0% | 4.3% | — |
| Return on tangible assets | 4.6% | −7.1% | −3.2% | −1.1% | −24.5% | −44.4% | 8.1% | — |
| Free cash flow margin | 3.8% | 6.8% | 2.1% | −26.4% | −72.9% | −37.5% | 7.8% | 3.7% |
| Income quality (OCF / net income) | 2.14 | — | — | — | — | — | 1.69 | 7.21 |
| Financial health | ||||||||
| Total debt | $1.51B | $1.46B | $1.43B | $1.30B | $1.10B | $702.0M | $237.0M | — |
| Cash & short-term investments | $434.0M | $536.0M | $476.0M | $303.0M | $516.0M | $584.0M | $496.0M | — |
| Net debt | $1.07B | $926.0M | $958.0M | $999.0M | $589.0M | $118.0M | −$259.0M | — |
| Debt / equity | 0.94 | 1.39 | 1.19 | 8.57 | 0.74 | 0.72 | 0.14 | — |
| Debt / assets | 0.31 | 0.40 | 0.38 | 0.31 | 0.28 | 0.25 | 0.08 | — |
| Net debt / EBITDA | 2.47 | 4.17 | 5.04 | — | — | — | −0.74 | — |
| Current ratio | 1.14 | 1.64 | 1.64 | 1.60 | 1.43 | 1.52 | 1.81 | — |
| Quick ratio | 1.14 | 1.64 | 1.64 | 1.60 | 1.30 | 1.43 | 3.45 | — |
| Interest coverage | 1.9 | 1.0 | -0.1 | -2.0 | -10.6 | -27.7 | 13.7 | — |
| Working capital | $188.0M | $501.0M | $529.0M | $461.0M | $310.0M | $299.0M | $576.0M | — |
| Invested capital | $2.68B | $1.98B | $2.17B | $1.15B | $2.08B | $1.10B | $1.42B | — |
| Tangible asset value | −$861.0M | −$624.0M | −$552.0M | −$453.0M | −$610.0M | −$392.0M | $251.0M | — |
| Net current asset value | −$1.69B | −$1.29B | −$1.18B | −$1.58B | −$1.49B | −$905.0M | −$128.0M | — |
| Graham number | $3.79 | — | — | — | — | — | $17.47 | — |
| Graham net-net per share | −$3.94 | −$3.29 | −$3.14 | −$4.48 | −$3.87 | −$2.52 | −$7.75 | — |
| Capital allocation | ||||||||
| Dividends paid | — | — | $0 | $8.0M | $1.0M | $0 | $58.0M | — |
| Share buybacks (net) | $73.0M | $55.0M | $14.0M | $168.0M | $1.0M | $0 | $58.0M | $12.0M |
| Dividend payout ratio | — | — | — | — | — | — | 43.3% | — |
| Dividends + buybacks / free cash flow | 70.2% | 33.3% | 28.6% | — | — | — | 70.3% | 16.9% |
| Capex / revenue | 4.7% | 4.4% | 4.9% | 5.1% | 5.8% | 5.9% | 2.9% | 3.5% |
| Capex / operating cash flow | 55.4% | 39.3% | 69.8% | — | — | — | 27.3% | 48.2% |
| Capex / depreciation | 0.67 | 0.60 | 0.58 | 0.52 | 0.29 | 0.32 | 0.44 | 0.79 |
| Stock-based compensation / revenue | 2.8% | 3.2% | 3.3% | 2.1% | 0.4% | 0.4% | 0.3% | 0.2% |
| R&D / revenue | 19.4% | 18.2% | 17.7% | 21.0% | 34.6% | 34.9% | 16.0% | — |
| SG&A / revenue | 26.9% | 29.2% | 30.5% | 35.1% | 54.3% | 47.9% | 25.5% | 45.6% |
| Efficiency | ||||||||
| Days sales outstanding | 113.7 | 114.0 | 133.3 | 126.2 | 140.2 | 186.2 | 114.5 | — |
| Days of inventory on hand | — | — | — | — | 56.4 | -381.9 | -481.6 | — |
| Days payables outstanding | 130.9 | 106.6 | 105.7 | 85.5 | 89.1 | 129.0 | 115.3 | — |
| Cash conversion cycle (days) | -17.2 | 7.4 | 27.6 | 40.7 | 107.4 | -324.8 | -482.3 | — |
| Receivables turnover | 3.21 | 3.20 | 2.74 | 2.89 | 2.60 | 1.96 | 3.19 | — |
| Payables turnover | 2.79 | 3.42 | 3.45 | 4.27 | 4.09 | 2.83 | 3.17 | — |
| Inventory turnover | — | — | — | — | 6.47 | — | — | — |
| Asset turnover | 0.64 | 0.66 | 0.58 | 0.45 | 0.23 | 0.27 | 0.68 | — |
| Average receivables | $846.5M | $757.0M | $836.5M | $640.0M | $293.0M | $404.5M | $665.0M | — |
| Average payables | $389.0M | $282.5M | $277.5M | $195.0M | $116.5M | $187.0M | $278.0M | — |
| Average inventory | — | — | — | — | $73.7M | −$553.6M | −$1.16B | — |
| Intangibles / total assets | 51.3% | 46.4% | 47.0% | 43.6% | 52.5% | 49.9% | 46.3% | — |
Computed from GBTG's annual financial statements (latest annual report filed March 9, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
GBTG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Global Business Travel traded at 36.7 times earnings. Based on the latest twelve months, the trailing P/E is 59.4 and the forward P/E is 14.4. Global Business Travel earned a return on equity of 8.2% and a return on invested capital of 5.7% in fiscal 2025. It ended the year with $1.5 billion of debt and $434.0 million in cash and short-term investments, net debt of $1.1 billion. It returned $73.0 million to shareholders: $0 in dividends and $73.0 million in share buybacks, 70% of free cash flow. The share count rose 306.7% from 128.8M to 523.6M over 7 years.
See the GBTG income statement, the GBTG chart for price history, or the GBTG stock overview for the latest quote and news.
GBTG key metrics FAQ
What is Global Business Travel's P/E ratio?
Global Business Travel's trailing P/E ratio is 59.4 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 14.4. At the end of fiscal 2025 it was 36.7.
What is Global Business Travel's EV/EBITDA?
Global Business Travel's enterprise value was 11.7 times EBITDA at the end of fiscal 2025 (enterprise value $5.1 billion, EBITDA $434.0 million); the current EV/EBITDA is 16.4.
What is Global Business Travel's return on equity?
Global Business Travel's return on equity (ROE) was 8.2% in fiscal 2025: net income of $109.0 million on average shareholders' equity of $1.3 billion.
What is Global Business Travel's ROIC?
Global Business Travel's return on invested capital was 5.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Global Business Travel have?
Global Business Travel had total debt of $1.5 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.94 and $1.1 billion of net debt (2.47 times EBITDA).
Does Global Business Travel buy back its shares?
Yes. Global Business Travel spent $73.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +13.2% over the year, to 523.6M..
What is Global Business Travel's free cash flow yield?
Global Business Travel generated $104.0 million of free cash flow in fiscal 2025, a free cash flow yield of 2.6% on its market value at year-end ($4.0 billion).
What is Global Business Travel's current ratio?
Global Business Travel's current ratio was 1.14 at the end of fiscal 2025: current assets were 1.14 times current liabilities.