Where do Global Business Travel Group's ratios come from?

Every ratio is computed from Global Business Travel Group's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	2.7%—	4.8%—	5.2%—	——	——
Net margin	3.1%+4.7pp	4.1%+9.6pp	0.6%+7.5pp	-2.1%-0.2pp	-1.6%+3.9pp
EBITDA margin	9.9%-3.5pp	11.8%-0.2pp	12%+0.9pp	12.8%+2.6pp	13.4%+4.7pp
Free cash flow margin	0.9%-6.0pp	3.8%-3.0pp	4.9%-2.0pp	5.9%-3.1pp	6.9%-1.0pp
Returns
Return on equity	6.6%+10.1pp	8.3%+20.2pp	1.1%+15.2pp	-4.3%+2.3pp	-3.5%+15.7pp
Return on assets	2%+3.1pp	2.6%+6.2pp	0.3%+4.7pp	-1.4%-0.2pp	-1%+2.2pp
Return on invested capital	3.3%-0.5pp	5.6%0.0pp	2.8%-0.8pp	3.5%+0.7pp	3.7%+3.3pp
Efficiency
Asset turnover	0.7×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×
Liquidity
Current ratio	1.2×-0.4×	1.1×-0.5×	1.2×-0.3×	1.7×0.0×	1.6×+0.1×
Quick ratio	1.2×-0.4×	1.1×-0.5×	1.2×-0.3×	1.7×0.0×	1.6×+0.1×
Cash ratio	0.3×-0.3×	0.3×-0.4×	0.3×-0.3×	0.7×+0.1×	0.6×+0.1×
Leverage
Debt-to-equity	1×-0.3×	0.9×-0.5×	1×-0.4×	1.2×0.0×	1.3×+0.1×
Debt-to-assets	0.3×-0.1×	0.3×-0.1×	0.3×-0.1×	0.4×0.0×	0.4×0.0×
Net debt / EBITDA	4×+1.2×	3.3×+0.2×	3.5×0.0×	2.7×-1.1×	2.8×-2.0×
Interest coverage	0.8×-0.7×	1.4×+0.4×	1.4×+0.8×	1.5×+1.2×	1.5×+1.4×
Per Share
Book value per share	$3.10+32.3%	$3.26+43.6%	$3.15+32.1%	$2.53-2.0%	$2.34-7.7%
Valuation
Market capitalization	$2.92B-15.8%	$4B-8.3%	$4.28B+20.3%	$3.03B-1.2%	$3.47B+25.3%
Enterprise value	$4.09B-6.7%	$5.08B-4.1%	$5.34B+18.8%	$3.88B-2.5%	$4.38B+17.3%
Price / sales	1×-0.4×	1.5×-0.3×	1.7×+0.2×	1.2×-0.1×	1.4×+0.2×
Price / book	1.8×-1.3×	2.5×-1.7×	2.8×-0.4×	2.5×0.0×	3.1×+0.7×
EV / EBITDA	14.1×+0.6×	15.8×-2.3×	17.6×+0.7×	12.4×-4.1×	13.5×-5.0×
EV / sales	1.4×-0.4×	1.9×-0.3×	2.1×+0.2×	1.6×-0.1×	1.8×+0.2×
Free cash flow yield	0.9%-3.9pp	2.6%-1.2pp	2.9%-1.7pp	4.8%-2.1pp	4.8%-1.8pp
Earnings yield	3.1%+4.2pp	2.8%+5.8pp	0.3%+5.0pp	-1.7%-0.2pp	-1.2%+3.5pp

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Questions, answered.

Where do Global Business Travel Group's ratios come from?: Every ratio is computed from Global Business Travel Group's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.