(GBTG) Global Business Travel - Overview
Sector: Consumer Cyclical | Industry: Travel Services | Exchange: NYSE (USA) | Market Cap: 4.870m USD | Total Return: 43.7% in 12m
Avg Turnover: 23.8M
Qual. Beats: 0
Rev. Trend: 91.6%
Qual. Beats: 1
Warnings
Altman Z'' 0.19 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Rs Leader, Idiosyncratic Leader, Confidence
Global Business Travel Group (GBTG) is a business-to-business travel platform providing software and services for corporate travel management. The company operates the Amex GBT marketplace, offering integrated solutions for booking, expense management, and travel policy compliance across diverse segments including multinational corporations, small-to-medium enterprises, and government agencies.
The business model relies on a mix of transaction-based fees and management fees, bolstered by proprietary AI tools for rate optimization and data analytics. As a leader in the travel management company (TMC) sector, GBTG benefits from the high barriers to entry associated with global supplier networks and complex regulatory requirements for government contracting.
For more detailed financial metrics and valuation models, consider reviewing the data on ValueRay.
Headquartered in London, GBTG provides specialized services ranging from high-touch personalized travel for executives to large-scale meeting and event planning. Its technology stack includes the Egencia and Neo platforms, which integrate with existing corporate enterprise resource planning (ERP) systems to streamline travel spend visibility.
- Corporate travel volume recovery drives transaction revenue and software subscription growth
- Strategic acquisition of CWT accelerates market share consolidation and synergy realization
- High operational leverage links share price performance to global business travel demand
- Integration of AI automation tools reduces service costs and improves operating margins
- High corporate debt levels increase sensitivity to interest rate and refinancing risks
| Net Income: 86.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -3.90 > 1.0 |
| NWC/Revenue: 8.95% < 20% (prev 22.39%; Δ -13.44% < -1%) |
| CFO/TA 0.03 > 3% & CFO 165.0m > Net Income 86.0m |
| Net Debt (1.25b) to EBITDA (383.0m): 3.27 < 3 |
| Current Ratio: 1.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (519.4m) vs 12m ago 8.50% < -2% |
| Gross Margin: 56.96% > 18% (prev 60.85%; Δ -3.88% > 0.5%) |
| Asset Turnover: 66.27% > 50% (prev 64.31%; Δ 1.96% > 0%) |
| Interest Coverage Ratio: 1.74 > 6 (EBIT TTM 171.0m / Interest Expense TTM 98.0m) |
| A: 0.05 (Total Current Assets 1.76b - Total Current Liabilities 1.49b) / Total Assets 5.08b |
| B: -0.28 (Retained Earnings -1.41b / Total Assets 5.08b) |
| C: 0.04 (EBIT TTM 171.0m / Avg Total Assets 4.43b) |
| D: 0.47 (Book Value of Equity 1.61b / Total Liabilities 3.42b) |
| Altman-Z'' = 0.19 = B |
| DSRI: 1.06 (Receivables 1.06b/832.0m, Revenue 2.94b/2.43b) |
| GMI: 1.07 (GM 60.85% / 56.96%) |
| AQI: 1.08 (AQ_t 0.58 / AQ_t-1 0.54) |
| SGI: 1.21 (Revenue 2.94b / 2.43b) |
| TATA: -0.02 (NI 86.0m - CFO 165.0m) / TA 5.08b) |
| Beneish M = -2.72 (Cap -4..+1) = A |
As of June 06, 2026, the stock is trading at USD 9.34 with a total of 1,126,056 shares traded.
Over the past week, the price has changed by +0.00%,
over one month by -1.48%,
over three months by +61.59% and
over the past year by +43.69%.
Global Business Travel has received a consensus analysts rating of 4.71. Therefore, it is recommended to buy GBTG.
- StrongBuy: 6
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 9.5 | 1.7% |
P/E Trailing = 58.375
P/E Forward = 9.0253
P/S = 1.6583
P/B = 3.0821
Revenue TTM = 2.94b USD
EBIT TTM = 171.0m USD
EBITDA TTM = 383.0m USD
Long Term Debt = 1.46b USD (from longTermDebt, last quarter)
Short Term Debt = 87.0m USD (from shortTermDebt, last quarter)
Debt = 1.70b USD (from shortLongTermDebtTotal, last quarter) + Leases 89.0m
Net Debt = 1.25b USD (calculated: Debt 1.70b - CCE 442.0m)
Enterprise Value = 6.12b USD (4.87b + Debt 1.70b - CCE 442.0m)
Interest Coverage Ratio = 1.74 (Ebit TTM 171.0m / Interest Expense TTM 98.0m)
EV/FCF = 235.5x (Enterprise Value 6.12b / FCF TTM 26.0m)
FCF Yield = 0.42% (FCF TTM 26.0m / Enterprise Value 6.12b)
FCF Margin = 0.89% (FCF TTM 26.0m / Revenue TTM 2.94b)
Net Margin = 2.93% (Net Income TTM 86.0m / Revenue TTM 2.94b)
Gross Margin = 56.96% ((Revenue TTM 2.94b - Cost of Revenue TTM 1.26b) / Revenue TTM)
Gross Margin QoQ = 51.19% (prev 56.82%)
Tobins Q-Ratio = 1.21 (Enterprise Value 6.12b / Total Assets 5.08b)
Interest Expense / Debt = 5.78% (Interest Expense 98.0m / Debt 1.70b)
Taxrate = 26.49% (40.0m / 151.0m)
NOPAT = 125.7m (EBIT 171.0m * (1 - 26.49%))
Current Ratio = 1.18 (Total Current Assets 1.76b / Total Current Liabilities 1.49b)
Debt / Equity = 1.05 (Debt 1.70b / totalStockholderEquity, last quarter 1.61b)
Debt / EBITDA = 3.27 (Net Debt 1.25b / EBITDA 383.0m)
Debt / FCF = 48.19 (Net Debt 1.25b / FCF TTM 26.0m)
Total Stockholder Equity = 1.49b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.94% (Net Income 86.0m / Total Assets 5.08b)
RoE = 5.79% (Net Income TTM 86.0m / Total Stockholder Equity 1.49b)
RoCE = 5.81% (EBIT 171.0m / Capital Employed (Equity 1.49b + L.T.Debt 1.46b))
RoIC = 3.57% (NOPAT 125.7m / Invested Capital 3.53b)
WACC = 8.82% (E(4.87b)/V(6.57b) * Re(10.41%) + D(1.70b)/V(6.57b) * Rd(5.78%) * (1-Tc(0.26)))
Discount Rate = 10.41% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 86.67 | Cagr: 5.71%
[DCF] Terminal Value 71.35% ; FCFF base≈82.4m ; Y1≈72.3m ; Y5≈58.4m
[DCF] Fair Price = N/A (negative equity: EV 869.7m - Net Debt 1.25b = -383.3m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.67 | # QB: 0
Revenue Correlation: 91.59 | Revenue CAGR: 8.61% | SUE: 0.97 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.14 | Chg30d=+10.49% | Revisions=+33% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.10 | Chg30d=-30.13% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=0.47 | Chg30d=+8.37% | Revisions=+0% | GrowthEPS=+26.7% | GrowthRev=+20.9%
EPS next Year (2027-12-31): EPS=0.57 | Chg30d=-0.58% | Revisions=+0% | GrowthEPS=+21.2% | GrowthRev=+3.4%
[Analyst] Revisions Ratio: +33%