ABNB Airbnb, Inc.

Overview and Growth

Fiscal 2025 results for Airbnb, Inc. combined $12.24B of revenue with net income of $2.51B and an operating cash inflow of $4.65B. At $12.24B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $11.10B in fiscal 2024, revenue recorded a 10.3% year-over-year increase. At period end, total assets were $22.21B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.55x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $10.15B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 83.0%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $2.54B of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 20.8%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $2.51B, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 20.5% of revenue, connecting the absolute net income figure with the company’s top-line scale. Pretax income was $3.14B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 25.6% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $626.00M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 20.0% of pretax income, showing the tax burden absorbed by the year’s earnings. The relationship between net income and period-end equity was 30.6%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 11.3%, showing earnings relative to the full balance sheet. The company moved from fiscal 2024 net income of $2.65B to $2.51B, with the current outcome ending below that comparison.

Liquidity and Capital Structure

Total assets were $22.21B, supported by $14.01B of liabilities and $8.20B of shareholder equity. The near-term balance sheet paired $18.80B of current assets with $13.65B of current liabilities at the reporting date. The current ratio was 1.38x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $6.56B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 48.1%, excluding receivables and other current assets. Borrowings totaled $2.00B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.24x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 9.0%, showing how much of the asset base was matched by borrowing. Equity equaled 36.9% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 63.1% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 29.5%, comparing reported cash and equivalents with the full positive asset balance. Compared with $20.96B in fiscal 2024, the current asset base moved 6.0% and finished higher. Against $8.41B of equity in fiscal 2024, the current book-equity balance moved 2.5% and ended lower. Compared with $6.86B in fiscal 2024, the current cash balance moved 4.4% and finished lower.

Cash Flow and Earnings Quality

The company reported $4.65B of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.85x of net income, showing how strongly accounting earnings converted into cash from operations.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.