Airbnb, Inc. ABNB
Airbnb was founded in 2007 when two hosts welcomed three guests to their San Francisco home, and has since grown into a global community of over 5 million hosts who have welcomed over 2.5 billion guest arrivals in almost every country and region across the globe. Every day, hosts offer unique stays, experiences, and services that enable guests to connect with communities in a more authentic way. We operate a global marketplace connecting guests with stays, experiences, and services, collectively in over 220 countries and regions. Our offerings have expanded to include services and redesigned experiences, which launched in May 2025.
We operate with five key stakeholders in mind: our employees, shareholders, hosts, guests, and the communities we serve. Our commitment to making long-term decisions that benefit all these stakeholders is fundamental to our sustained success.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.24B | $11.10B | $9.92B | $8.40B | $5.99B | $3.38B | $4.81B | — |
| Cost of revenue | $2.09B | $1.88B | $1.70B | $1.50B | $1.16B | $876.0M | $1.20B | — |
| Gross profit | $10.15B | $9.22B | $8.21B | $6.90B | $4.84B | $2.50B | $3.61B | — |
| R&D | $2.35B | $2.06B | $1.72B | $1.50B | $1.43B | $2.75B | $976.7M | — |
| SG&A | $1.34B | $1.19B | $2.02B | $950.0M | $836.0M | $1.14B | $697.2M | — |
| Total operating expenses | $9.70B | $8.55B | $8.40B | $6.60B | $5.56B | $6.97B | $5.31B | — |
| Operating income | $2.54B | $2.55B | $1.52B | $1.80B | $429.0M | -$3.59B | -$501.5M | — |
| Pre-tax income | $3.14B | $3.33B | $2.10B | $1.99B | -$300.0M | -$4.68B | -$411.7M | — |
| Income tax | $626.0M | $683.0M | $2.69B | $96.0M | $52.0M | $97.0M | $262.6M | — |
| Net income | $2.51B | $2.65B | $4.79B | $1.89B | -$352.0M | -$4.58B | -$674.3M | — |
| Shares, diluted (wtd. avg.) | $623.0M | $645.0M | $662.0M | $680.0M | $616.0M | $284.0M | $260.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.56B | $6.86B | $12.67B | $12.10B | $9.73B | $7.67B | $5.14B | $4.44B |
| Short-term investments | $4.45B | $3.75B | $3.20B | $2.24B | $2.25B | $910.7M | — | — |
| Total current assets | $18.80B | $17.18B | $16.51B | $14.86B | $12.39B | $8.92B | — | — |
| Property, plant and equipment | $107.0M | $147.0M | $160.0M | $121.0M | $157.0M | $270.2M | — | — |
| Goodwill | $754.0M | $750.0M | $752.0M | $650.0M | $653.0M | $656.0M | $652.1M | — |
| Other intangibles | $16.0M | $27.0M | $40.0M | $34.0M | $52.0M | $75.9M | — | — |
| Total assets | $22.21B | $20.96B | $20.64B | $16.04B | $13.71B | $10.49B | — | — |
| Accounts payable | $232.0M | $142.0M | $141.0M | $137.0M | $118.0M | $79.9M | — | — |
| Short-term debt | $2.00B | $0 | — | — | $0 | $10.0M | — | — |
| Total current liabilities | $13.65B | $10.16B | $9.95B | $7.98B | $6.36B | $5.14B | — | — |
| Long-term debt | $0 | $2.00B | $1.99B | $1.99B | $1.98B | $1.82B | — | — |
| Total liabilities | $14.01B | $12.55B | $12.48B | $10.48B | $8.93B | $7.59B | — | — |
| Retained earnings | -$5.50B | -$4.22B | -$3.42B | -$5.96B | -$6.36B | -$6.01B | — | — |
| Total equity | $8.20B | $8.41B | $8.16B | $5.56B | $4.78B | $2.90B | -$808.0M | -$517.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.65B | $4.52B | $3.88B | $3.43B | $2.31B | -$740.0M | $222.7M | — |
| Depreciation and amortisation | $17.0M | $16.0M | $18.0M | $43.0M | $86.0M | $67.2M | $57.2M | — |
| Stock-based compensation | $1.59B | $1.41B | $1.12B | $930.0M | $899.0M | $3.00B | $97.5M | — |
| Capital expenditure | — | — | — | $25.0M | $25.0M | $37.0M | $125.5M | — |
| Investing cash flow | -$748.0M | -$616.0M | -$1.04B | -$28.0M | -$1.35B | $80.0M | -$347.2M | — |
| Financing cash flow | -$3.83B | -$3.57B | -$2.43B | -$689.0M | $1.31B | $3.05B | $854.6M | — |
| Buybacks | $3.79B | $3.43B | $2.25B | $1.50B | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-175062.
Others in SIC 7340
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| FTDR | Frontdoor, Inc. | $5.69B | 24.2x | 13.6% |
| ABM | ABM INDUSTRIES INC /DE/ | $2.76B | 18.2x | 4.6% |
| ARAI | Arrive AI Inc. | $12.4M | — | — |
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