GBTG Global Business Travel Group, Inc.

Overview and Growth

In fiscal 2025, Global Business Travel Group, Inc. recorded $2.72B of revenue, net income of $109.00M, and an operating cash inflow of $233.00M. Revenue of $2.72B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 12.2% from $2.42B in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $0.22, adding a shareholder-level measure to the absolute income figures considered below. The company employed $4.92B of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.55x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The reported operating result was $130.00M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 4.8%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $109.00M, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 4.0% of revenue, connecting the absolute net income figure with the company’s top-line scale. The company recognized $40.00M of income tax for the period, completing the transition from pretax income to net income. The relationship between net income and period-end equity was 6.8%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 2.2%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $4.92B, supported by $3.25B of liabilities and $1.61B of shareholder equity. Current assets were $1.57B against $1.38B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.14x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $434.00M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 31.4%, excluding receivables and other current assets. Total debt was $1.42B, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.88x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 28.8%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 66.2%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 8.8%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 35.7% higher than fiscal 2024 assets of $3.62B, measuring the company’s own balance-sheet change. Book equity was 52.5% higher than fiscal 2024 equity of $1.06B, showing how shareholder capital changed year over year. Cash and equivalents were 19.0% lower than fiscal 2024 cash of $536.00M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $233.00M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 2.14x, comparing cash generated by operations with the bottom-line earnings result. Capital spending was $129.00M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 55.4%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $104.00M, leaving a positive amount after capital expenditures. Free cash flow represented 3.8% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 2.1% of total assets, relating post-investment cash generation to the company’s resource base.

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