Global Business Travel Group, Inc. GBTG

Industrials SIC 4700 - Transportation Services NAICS Transportation and Warehousing › Support Activities for Transportation derived NYSE

American Express Global Business Travel, operated by Global Business Travel Group, Inc., a Delaware corporation, ("Amex GBT") is a leading technology and services company for travel, expense, and meetings & events. We are committed to offering companies and their travelers access to the most valuable marketplace in business travel for one simple reason: when people come together, great ideas come to life.

We believe business travel is a fundamental driver of progress and innovation that can be both transactional and transformational. Our comprehensive and competitive marketplace, industry-leading software, AI (as defined herein)-powered efficiencies and 24/7 global support team offer solutions, savings, and flexibility for companies of every size. We believe this is why Amex GBT is one of the most trusted brands in the industry, dedicated to enabling better business travel.1

Last close 9.50 2026-09-28
Market cap $4.96B 2026-06-30 share count
52-week range 4.96 - 9.56

Valuation FY2025 figures against the last close

P/S1.8x
P/E43.2x
P/FCF47.7x
EV/EBITDA18.5x
Dividend yield—
Diluted EPS0.22

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.K.
  • All other countries
  • United States
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 U.K., FY2025: 1.4B (50.1%) 50% U.K. All other countries, FY2025: 754M (27.7%) 28% All other countries United States, FY2025: 601M (22.1%) 22% United States FY2024 U.K., FY2024: 1.3B (53.9%) 54% All other countries, FY2024: 639M (26.4%) 26% United States, FY2024: 479M (19.8%) 20% FY2023 U.K., FY2023: 833M (36.4%) 36% All other countries, FY2023: 624M (27.2%) 27% United States, FY2023: 833M (36.4%) 36%
Region FY2025FY2024FY2023
U.K. $1.36B $1.30B $833.0M
All other countries $754.0M $639.0M $624.0M
United States $601.0M $479.0M $833.0M

As the company reported it, from the “Segment Information - Summary of Revenue and Long-lived Assets (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $2.72B$2.42B$2.29B$1.85B$763.0M$793.0M$0—
SG&A $290.0M$308.0M$294.0M$313.0M$213.0M$181.0M$1.9K—
Total operating expenses $2.59B$2.31B$2.30B$2.05B$1.32B$1.54B$1.9K—
Operating income $130.0M$115.0M-$8.0M-$198.0M-$560.0M-$747.0M——
Interest expense $95.0M$115.0M$141.0M$98.0M$53.0M$27.0M——
Pre-tax income $147.0M-$71.0M-$145.0M-$287.0M-$653.0M-$759.0M——
Income tax $40.0M$66.0M$9.0M$61.0M$186.0M$145.0M——
Net income $111.0M-$134.0M-$136.0M-$229.0M-$475.0M-$619.0M-$1.9K—
EPS, basic 0.22-0.30-0.25-0.50————
EPS, diluted 0.22-0.30-0.30-0.51————
Shares, diluted (wtd. avg.) 492.8M462.7M458.1M445.7M————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $434.0M$536.0M$489.0M$316.0M$525.0M$593.0M$499.0M$0
Receivables $869.0M$571.0M$726.0M$765.0M$381.0M———
Total current assets $1.57B$1.28B$1.36B$1.23B$1.05B$1.4M$1.9K—
Property, plant and equipment $308.0M$232.0M—$218.0M$216.0M———
Goodwill $1.67B$1.20B$1.21B$1.19B$1.36B$1.03B——
Other intangibles $851.0M$480.0M$552.0M$636.0M$746.0M———
Total assets $4.92B$3.62B$3.75B$3.73B$3.77B$818.4M$1.9K—
Accounts payable $515.0M$263.0M$302.0M$253.0M$137.0M$383.2K——
Short-term debt $58.0M$19.0M$7.0M$3.0M$3.0M———
Total current liabilities $1.38B$780.0M$831.0M$773.0M$721.0M$2.3M——
Long-term debt $1.36B$1.36B$1.35B$1.22B$1.02B———
Total liabilities $3.25B$2.57B$2.54B$2.36B$2.28B$105.5M——
Retained earnings -$1.47B-$1.57B-$1.44B-$175.0M-$1.06B-$103.9M-$30.0K—
Total equity $1.61B$1.05B$1.21B$1.37B$1.33B$984.0M$1.68B—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $233.0M$272.0M$162.0M-$394.0M-$512.0M-$250.0M$0—
Depreciation and amortisation $192.0M$178.0M$194.0M$182.0M$154.0M$148.0M——
Stock-based compensation $76.0M$77.0M$75.0M$39.0M$3.0M$3.0M——
Capital expenditure $129.0M$107.0M$113.0M$94.0M$44.0M$47.0M——
Investing cash flow -$206.0M-$102.0M-$119.0M-$95.0M-$27.0M-$47.0M$0—
Financing cash flow -$128.0M-$85.0M$120.0M$292.0M$478.0M$384.0M$0—
Buybacks $73.0M$55.0M$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 0001628280-26-015817.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2019: 0 Net income, FY2019: -1.9K Revenue, FY2020: 793M Net income, FY2020: -619M Revenue, FY2021: 763M Net income, FY2021: -475M Revenue, FY2022: 1.9B Net income, FY2022: -229M Revenue, FY2023: 2.3B Net income, FY2023: -136M Revenue, FY2024: 2.4B Net income, FY2024: -134M Revenue, FY2025: 2.7B Net income, FY2025: 111M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $0 $793.0M $763.0M $1.85B $2.29B $2.42B $2.72B
Gross profit — — — — — — — —
Net income — -$1.9K -$619.0M -$475.0M -$229.0M -$136.0M -$134.0M $111.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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