GLOBAL BUSINESS TRAVEL GROUP (GBTG) Fundamental Analysis & Valuation

NYSE:GBTG • US37890B1008

Current stock price

5.73 USD
+0.03 (+0.53%)
At close:
5.73 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.
  • GBTG had a positive operating cash flow in the past year.
  • GBTG had negative earnings in 4 of the past 5 years.
  • 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

  • The Return On Assets of GBTG (2.22%) is comparable to the rest of the industry.
  • The Return On Equity of GBTG (6.78%) is better than 62.70% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 3.75%, GBTG is doing worse than 61.90% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for GBTG is significantly below the industry average of 10.55%.
  • 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

  • GBTG has a Profit Margin (4.01%) which is comparable to the rest of the 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.
  • GBTG has a better Gross Margin (60.08%) than 74.60% of its industry peers.
  • In the last couple of years the Gross Margin of GBTG has grown nicely.
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.
  • The number of shares outstanding for GBTG has been increased compared to 1 year ago.
  • GBTG has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, GBTG has an improved debt to assets ratio.
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 0.84, we must say that GBTG is in the distress zone and has some risk of bankruptcy.
  • GBTG has a Altman-Z score of 0.84. This is in the lower half of the industry: GBTG underperforms 69.84% of its industry peers.
  • The Debt to FCF ratio of GBTG is 13.63, which is on the high side as it means it would take GBTG, 13.63 years of fcf income to pay off all of its debts.
  • GBTG's Debt to FCF ratio of 13.63 is in line compared to the rest of the industry. GBTG outperforms 51.59% of its industry peers.
  • GBTG has a Debt/Equity ratio of 0.85. This is a neutral value indicating GBTG is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.85, GBTG is in line with its industry, outperforming 58.73% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.85
Debt/FCF 13.63
Altman-Z 0.84
ROIC/WACC0.52
WACC7.26%
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

  • A Current Ratio of 1.14 indicates that GBTG should not have too much problems paying its short term obligations.
  • GBTG has a Current ratio of 1.14. This is comparable to the rest of the industry: GBTG outperforms 59.52% of its industry peers.
  • A Quick Ratio of 1.14 indicates that GBTG should not have too much problems paying its short term obligations.
  • GBTG has a Quick ratio of 1.14. This is in the better half of the industry: GBTG outperforms 63.49% 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.
  • Looking at the last year, GBTG shows a quite strong growth in Revenue. The Revenue has grown by 12.17% in the last year.
  • GBTG shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 27.94% yearly.
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

  • Based on estimates for the next years, GBTG will show a very strong growth in Earnings Per Share. The EPS will grow by 66.95% on average per year.
  • The Revenue is expected to grow by 5.76% on average over the next years.
EPS Next Y12.93%
EPS Next 2Y65.14%
EPS Next 3Y57.33%
EPS Next 5Y66.95%
Revenue Next Year19.58%
Revenue Next 2Y11.69%
Revenue Next 3Y8.78%
Revenue Next 5Y5.76%

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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2

4. GBTG Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 40.93 indicates a quite expensive valuation of GBTG.
  • The rest of the industry has a similar Price/Earnings ratio as GBTG.
  • GBTG's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.42.
  • The Price/Forward Earnings ratio is 36.24, which means the current valuation is very expensive for GBTG.
  • The rest of the industry has a similar Price/Forward Earnings ratio as GBTG.
  • When comparing the Price/Forward Earnings ratio of GBTG to the average of the S&P500 Index (22.24), we can say GBTG is valued expensively.
Industry RankSector Rank
PE 40.93
Fwd PE 36.24
GBTG Price Earnings VS Forward Price EarningsGBTG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as GBTG.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of GBTG is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 28.83
EV/EBITDA 10.61
GBTG Per share dataGBTG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • A more expensive valuation may be justified as GBTG's earnings are expected to grow with 57.33% in the coming years.
PEG (NY)3.17
PEG (5Y)N/A
EPS Next 2Y65.14%
EPS Next 3Y57.33%

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 (4/24/2026, 8:04:00 PM)

After market: 5.73 0 (0%)

5.73

+0.03 (+0.53%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)03-09
Earnings (Next)05-12
Inst Owners40.53%
Inst Owner Change-0.14%
Ins Owners5.04%
Ins Owner Change6.88%
Market Cap3.00B
Revenue(TTM)2.72B
Net Income(TTM)109.00M
Analysts83.08
Price Target9.32 (62.65%)
Short Float %4.63%
Short Ratio5.66
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)-15.84%
PT rev (3m)-15.84%
EPS NQ rev (1m)8.32%
EPS NQ rev (3m)-45.84%
EPS NY rev (1m)-64.07%
EPS NY rev (3m)-64.8%
Revenue NQ rev (1m)-0.57%
Revenue NQ rev (3m)-0.33%
Revenue NY rev (1m)-0.48%
Revenue NY rev (3m)-0.18%
Valuation
Industry RankSector Rank
PE 40.93
Fwd PE 36.24
P/S 1.1
P/FCF 28.83
P/OCF 12.87
P/B 1.86
P/tB N/A
EV/EBITDA 10.61
EPS(TTM)0.14
EY2.44%
EPS(NY)0.16
Fwd EY2.76%
FCF(TTM)0.2
FCFY3.47%
OCF(TTM)0.45
OCFY7.77%
SpS5.19
BVpS3.07
TBVpS-1.75
PEG (NY)3.17
PEG (5Y)N/A
Graham Number3.11105 (-45.71%)
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 0.84
F-Score6
WACC7.26%
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 Y12.93%
EPS Next 2Y65.14%
EPS Next 3Y57.33%
EPS Next 5Y66.95%
Revenue 1Y (TTM)12.17%
Revenue growth 3Y13.66%
Revenue growth 5Y27.94%
Sales Q2Q%34.01%
Revenue Next Year19.58%
Revenue Next 2Y11.69%
Revenue Next 3Y8.78%
Revenue Next 5Y5.76%
EBIT growth 1Y42.19%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year381.36%
EBIT Next 3Y80.53%
EBIT Next 5Y56.13%
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 2 / 10 to GLOBAL BUSINESS TRAVEL GROUP (GBTG). This can be considered as Overvalued.


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 40.93 and the Price/Book (PB) ratio is 1.86.


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 12.93% in the next year.