Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsFlagged areas: Earnings quality, Solvency & liquidity.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- 4 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Operating margin was stable
Operating margin changed +0.0 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Revenue expanded
Latest reported annual revenue changed +12.2% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $104M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
- Solvency & liquidity
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Reportable Segment$2.72B100.0%+12.2% yoy
Members sum to the consolidated $2.72B for this period.
- Travel$2.15B79.2%+11.5% yoy
- Product And Service Other$564M20.8%+14.9% yoy
Members sum to the consolidated $2.72B for this period.
- United Kingdom$1.36B50.1%+4.4% yoy
- Countries Other Than United States And United Kingdom$754M27.7%+18.0% yoy
- United States$601M22.1%+25.5% yoy
Members sum to the consolidated $2.72B for this period.
- Reportable Segment$840M100.0%+35.3% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 322 in Industrials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $2.7B | 71stof 3,301 top third | 59thof 305 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 12.2% | 66thof 3,135 middle third | 73rdof 294 top third |
Operating margin operating income ÷ revenue | 4.8% | 55thof 2,819 middle third | 50thof 280 middle third |
Net margin net income ÷ revenue | 4.1% | 56thof 3,263 middle third | 57thof 299 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 3.8% | 47thof 2,679 middle third | 47thof 276 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 6.9% | 57thof 3,577 middle third | 50thof 281 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 2.8% | 45thof 2,895 middle third | 23rdof 266 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 117 days | 8thof 2,398 bottom third | 3rdof 238 bottom third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 4.2× | 32ndof 1,547 bottom third | 24thof 149 bottom third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 2.1× | 69thof 2,183 top third | 68thof 200 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -2.9% | 37thof 3,577 middle third | 37thof 282 middle third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 32.5% | 22ndof 3,059 bottom third | 16thof 223 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 24 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Interest expense InterestExpense | fiscal year 2020-12-31 | $414 10-K 2021-03-30 | $27M 10-K 2023-03-21 | +6521639.1% | first · latest · 5 filings carry it |
| Interest expense InterestExpense | quarter 2021-06-30 | $828 10-Q 2021-08-13 | $13M 10-Q 2022-08-11 | +1569948.3% | first · latest |
| Interest expense InterestExpense | fiscal year 2021-12-31 | $5.46K 10-K 2022-03-01 | $53M 10-K 2024-03-13 | +969707.9% | first · latest · 3 filings carry it |
| Interest expense InterestExpense | quarter 2022-03-31 | $2.04K 10-Q 2022-05-09 | $19M 10-Q 2023-05-09 | +932186.6% | first · latest |
| Interest expense InterestExpense | quarter 2021-09-30 | $1.54K 10-Q 2021-11-10 | $13M 10-Q 2022-11-10 | +845153.6% | first · latest · 3 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2021-12-31 | $161K 10-K 2022-03-01 | $516M 10-K 2023-03-21 | +319846.4% | first · latest · 5 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | quarter 2022-03-31 | -$81K 10-Q 2022-05-09 | -$154M 10-Q 2023-05-09 | -189941.3% | first · latest |
| Net income ProfitLoss | fiscal year 2020-12-31 | -$408K 10-K 2021-03-30 | -$619M 10-K 2023-03-21 | -151554.7% | first · latest · 5 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | fiscal year 2021-12-31 | -$4.02M 10-K 2022-03-01 | -$512M 10-K 2024-03-13 | -12621.0% | first · latest · 3 filings carry it |
| Operating cash flow NetCashProvidedByUsedInOperatingActivities | fiscal year 2020-12-31 | -$2.44M 10-K 2021-03-30 | -$250M 10-K 2023-03-21 | -10140.7% | first · latest · 5 filings carry it |
| Net income ProfitLoss | fiscal year 2021-12-31 | $6.2M 10-K 2022-03-01 | -$475M 10-K 2024-03-13 | -7761.4% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-10-06 | $5M 10-K/A 2021-06-21 | -$147M 10-K/A 2021-11-29 | -3031.0% | first · latest |
| Total liabilities Liabilities | balance at 2021-12-31 | $98.9M 10-K 2022-03-01 | $2.28B 10-K 2023-03-21 | +2201.6% | first · latest · 5 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-12-31 | $5M 10-K 2021-03-30 | -$104M 10-Q 2022-05-09 | -2178.6% | first · latest · 9 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-03-31 | $5M 10-Q 2021-06-21 | -$83.6M 10-Q 2022-05-09 | -1772.9% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-06-30 | $5M 10-Q 2021-08-13 | -$82.3M 10-Q/A 2021-11-29 | -1746.5% | first · latest · 3 filings carry it |
| Net income ProfitLoss | quarter 2022-03-31 | -$5.33M 10-Q 2022-05-09 | -$91M 10-Q 2023-11-07 | -1608.5% | first · latest · 6 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-12-31 | -$97.7M 10-K 2022-03-01 | $1.33B 10-K 2023-03-21 | +1464.0% | first · latest · 5 filings carry it |
| Net income ProfitLoss | quarter 2021-03-31 | $20.3M 10-Q 2021-06-21 | -$114M 10-Q 2022-11-10 | -662.0% | first · latest · 4 filings carry it |
| Total assets Assets | balance at 2021-12-31 | $818M 10-K 2022-03-01 | $3.77B 10-K 2023-03-21 | +361.0% | first · latest · 5 filings carry it |
| Total liabilities Liabilities | balance at 2020-12-31 | $30.8M 10-K 2021-03-30 | $105M 10-K 2022-03-01 | +242.0% | first · latest · 8 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2020-12-31 | $0 10-K 2021-03-30 | $793M 10-K 2023-03-21 | - | first · latest · 5 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2021-12-31 | $0 10-K 2022-03-01 | $763M 10-K 2024-03-13 | - | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2022-03-31 | $0 10-Q 2022-05-09 | $350M 10-Q 2023-05-09 | - | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for GBTG yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.