GLOBAL BUSINESS TRAVEL GROUP (GBTG) Fundamental Analysis & Valuation

NYSE:GBTG • US37890B1008

Current stock price

5.56 USD
+0.01 (+0.18%)
At close:
5.56 USD
0 (0%)
After Hours:

This GBTG fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. GBTG Profitability Analysis

1.1 Basic Checks

  • GBTG had positive earnings in the past year.
  • In the past year GBTG had a positive cash flow from operations.
  • In the past 5 years GBTG reported 4 times negative net income.
  • The reported operating cash flow has been mixed in the past 5 years: GBTG reported negative operating cash flow in multiple years.
GBTG Yearly Net Income VS EBIT VS OCF VS FCFGBTG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M -400M -600M

1.2 Ratios

  • With a Return On Assets value of 2.22%, GBTG perfoms like the industry average, outperforming 49.21% of the companies in the same industry.
  • GBTG's Return On Equity of 6.78% is fine compared to the rest of the industry. GBTG outperforms 63.49% of its industry peers.
  • The Return On Invested Capital of GBTG (3.75%) is worse than 61.90% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for GBTG is significantly below the industry average of 10.68%.
  • The 3 year average ROIC (2.62%) for GBTG is below the current ROIC(3.75%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.22%
ROE 6.78%
ROIC 3.75%
ROA(3y)-1.09%
ROA(5y)-3.35%
ROE(3y)-3.86%
ROE(5y)-12.07%
ROIC(3y)2.62%
ROIC(5y)N/A
GBTG Yearly ROA, ROE, ROICGBTG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 2025 0 2M 4M 6M

1.3 Margins

  • With a Profit Margin value of 4.01%, GBTG perfoms like the industry average, outperforming 54.76% of the companies in the same industry.
  • With a Operating Margin value of 6.70%, GBTG perfoms like the industry average, outperforming 42.86% of the companies in the same industry.
  • With a decent Gross Margin value of 60.08%, GBTG is doing good in the industry, outperforming 74.60% of the companies in the same industry.
  • GBTG's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 6.7%
PM (TTM) 4.01%
GM 60.08%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.96%
GM growth 5Y12.53%
GBTG Yearly Profit, Operating, Gross MarginsGBTG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 60 -60

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3

2. GBTG Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GBTG is destroying value.
  • GBTG has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, GBTG has more shares outstanding
  • The debt/assets ratio for GBTG has been reduced compared to a year ago.
GBTG Yearly Shares OutstandingGBTG Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
GBTG Yearly Total Debt VS Total AssetsGBTG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.2 Solvency

  • Based on the Altman-Z score of 0.83, we must say that GBTG is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.83, GBTG is doing worse than 69.05% of the companies in the same industry.
  • GBTG has a debt to FCF ratio of 13.63. This is a negative value and a sign of low solvency as GBTG would need 13.63 years to pay back of all of its debts.
  • The Debt to FCF ratio of GBTG (13.63) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.85 indicates that GBTG is somewhat dependend on debt financing.
  • GBTG has a Debt to Equity ratio of 0.85. This is comparable to the rest of the industry: GBTG outperforms 58.73% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.85
Debt/FCF 13.63
Altman-Z 0.83
ROIC/WACC0.52
WACC7.24%
GBTG Yearly LT Debt VS Equity VS FCFGBTG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B

2.3 Liquidity

  • GBTG has a Current Ratio of 1.14. This is a normal value and indicates that GBTG is financially healthy and should not expect problems in meeting its short term obligations.
  • GBTG has a Current ratio (1.14) which is in line with its industry peers.
  • A Quick Ratio of 1.14 indicates that GBTG should not have too much problems paying its short term obligations.
  • GBTG's Quick ratio of 1.14 is fine compared to the rest of the industry. GBTG outperforms 62.70% of its industry peers.
Industry RankSector Rank
Current Ratio 1.14
Quick Ratio 1.14
GBTG Yearly Current Assets VS Current LiabilitesGBTG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. GBTG Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 137.84% over the past year.
  • The Revenue has grown by 12.17% in the past year. This is quite good.
  • The Revenue has been growing by 27.94% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)137.84%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%147.06%
Revenue 1Y (TTM)12.17%
Revenue growth 3Y13.66%
Revenue growth 5Y27.94%
Sales Q2Q%34.01%

3.2 Future

  • The Earnings Per Share is expected to grow by 66.95% on average over the next years. This is a very strong growth
  • GBTG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.73% yearly.
EPS Next Y214.31%
EPS Next 2Y103.73%
EPS Next 3Y67.93%
EPS Next 5Y66.95%
Revenue Next Year19.99%
Revenue Next 2Y11.48%
Revenue Next 3Y8.85%
Revenue Next 5Y5.73%

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
GBTG Yearly Revenue VS EstimatesGBTG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B
GBTG Yearly EPS VS EstimatesGBTG Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5

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5

4. GBTG Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 39.71, the valuation of GBTG can be described as expensive.
  • GBTG's Price/Earnings is on the same level as the industry average.
  • GBTG is valuated expensively when we compare the Price/Earnings ratio to 25.60, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 12.64 indicates a correct valuation of GBTG.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of GBTG indicates a somewhat cheap valuation: GBTG is cheaper than 77.78% of the companies listed in the same industry.
  • GBTG's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.84.
Industry RankSector Rank
PE 39.71
Fwd PE 12.64
GBTG Price Earnings VS Forward Price EarningsGBTG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, GBTG is valued a bit cheaper than 60.32% of the companies in the same industry.
  • GBTG's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 28.01
EV/EBITDA 10.41
GBTG Per share dataGBTG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4

4.3 Compensation for Growth

  • GBTG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • GBTG's earnings are expected to grow with 67.93% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.19
PEG (5Y)N/A
EPS Next 2Y103.73%
EPS Next 3Y67.93%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. GBTG Dividend Analysis

5.1 Amount

  • GBTG does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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GBTG Fundamentals: All Metrics, Ratios and Statistics

GLOBAL BUSINESS TRAVEL GROUP

NYSE:GBTG (4/2/2026, 8:04:00 PM)

After market: 5.56 0 (0%)

5.56

+0.01 (+0.18%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)03-11
Earnings (Next)05-04
Inst Owners40.54%
Inst Owner Change3.3%
Ins Owners5.14%
Ins Owner Change6.88%
Market Cap2.91B
Revenue(TTM)2.72B
Net Income(TTM)109.00M
Analysts83.08
Price Target10 (79.86%)
Short Float %4.91%
Short Ratio6.17
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-132.68%
Min EPS beat(2)-949.67%
Max EPS beat(2)684.31%
EPS beat(4)2
Avg EPS beat(4)-73.75%
Min EPS beat(4)-949.67%
Max EPS beat(4)684.31%
EPS beat(8)3
Avg EPS beat(8)-170.07%
EPS beat(12)3
Avg EPS beat(12)-483.21%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)2.9%
Min Revenue beat(2)-1.7%
Max Revenue beat(2)7.51%
Revenue beat(4)1
Avg Revenue beat(4)0.09%
Min Revenue beat(4)-3.91%
Max Revenue beat(4)7.51%
Revenue beat(8)1
Avg Revenue beat(8)-1.58%
Revenue beat(12)4
Avg Revenue beat(12)-0.79%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-9.74%
PT rev (3m)-9.74%
EPS NQ rev (1m)-56.25%
EPS NQ rev (3m)-56.25%
EPS NY rev (1m)56.3%
EPS NY rev (3m)49.44%
Revenue NQ rev (1m)2.6%
Revenue NQ rev (3m)-0.11%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)0.15%
Valuation
Industry RankSector Rank
PE 39.71
Fwd PE 12.64
P/S 1.07
P/FCF 28.01
P/OCF 12.5
P/B 1.81
P/tB N/A
EV/EBITDA 10.41
EPS(TTM)0.14
EY2.52%
EPS(NY)0.44
Fwd EY7.91%
FCF(TTM)0.2
FCFY3.57%
OCF(TTM)0.44
OCFY8%
SpS5.19
BVpS3.07
TBVpS-1.74
PEG (NY)0.19
PEG (5Y)N/A
Graham Number3.11
Profitability
Industry RankSector Rank
ROA 2.22%
ROE 6.78%
ROCE 5.15%
ROIC 3.75%
ROICexc 4.27%
ROICexgc 22.88%
OM 6.7%
PM (TTM) 4.01%
GM 60.08%
FCFM 3.83%
ROA(3y)-1.09%
ROA(5y)-3.35%
ROE(3y)-3.86%
ROE(5y)-12.07%
ROIC(3y)2.62%
ROIC(5y)N/A
ROICexc(3y)3.11%
ROICexc(5y)N/A
ROICexgc(3y)13.79%
ROICexgc(5y)N/A
ROCE(3y)3.6%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.96%
GM growth 5Y12.53%
F-Score6
Asset Turnover0.55
Health
Industry RankSector Rank
Debt/Equity 0.85
Debt/FCF 13.63
Debt/EBITDA 3.64
Cap/Depr 67.19%
Cap/Sales 4.75%
Interest Coverage 250
Cash Conversion 62.3%
Profit Quality 95.41%
Current Ratio 1.14
Quick Ratio 1.14
Altman-Z 0.83
F-Score6
WACC7.24%
ROIC/WACC0.52
Cap/Depr(3y)61.85%
Cap/Depr(5y)53.15%
Cap/Sales(3y)4.7%
Cap/Sales(5y)4.99%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)137.84%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%147.06%
EPS Next Y214.31%
EPS Next 2Y103.73%
EPS Next 3Y67.93%
EPS Next 5Y66.95%
Revenue 1Y (TTM)12.17%
Revenue growth 3Y13.66%
Revenue growth 5Y27.94%
Sales Q2Q%34.01%
Revenue Next Year19.99%
Revenue Next 2Y11.48%
Revenue Next 3Y8.85%
Revenue Next 5Y5.73%
EBIT growth 1Y42.19%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year82.26%
EBIT Next 3Y33.91%
EBIT Next 5Y28.55%
FCF growth 1Y-36.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-14.34%
OCF growth 3YN/A
OCF growth 5YN/A

GLOBAL BUSINESS TRAVEL GROUP / GBTG Fundamental Analysis FAQ

What is the ChartMill fundamental rating of GLOBAL BUSINESS TRAVEL GROUP (GBTG) stock?

ChartMill assigns a fundamental rating of 4 / 10 to GBTG.


Can you provide the valuation status for GLOBAL BUSINESS TRAVEL GROUP?

ChartMill assigns a valuation rating of 5 / 10 to GLOBAL BUSINESS TRAVEL GROUP (GBTG). This can be considered as Fairly Valued.


Can you provide the profitability details for GLOBAL BUSINESS TRAVEL GROUP?

GLOBAL BUSINESS TRAVEL GROUP (GBTG) has a profitability rating of 4 / 10.


What are the PE and PB ratios of GLOBAL BUSINESS TRAVEL GROUP (GBTG) stock?

The Price/Earnings (PE) ratio for GLOBAL BUSINESS TRAVEL GROUP (GBTG) is 39.71 and the Price/Book (PB) ratio is 1.81.


Can you provide the expected EPS growth for GBTG stock?

The Earnings per Share (EPS) of GLOBAL BUSINESS TRAVEL GROUP (GBTG) is expected to grow by 214.31% in the next year.