Airbnb (ABNB)

Market Price (8/9/2026): $178.05 | Market Cap: $105.4 BilInvestor Relations Sector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Airbnb (ABNB)

Market Price (8/9/2026): $178.05
Market Cap: $105.4 Bil
Sector: Consumer Discretionary
Industry: Hotels, Resorts & Cruise Lines

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 14%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%, CFO LTM is 4.9 Bil, FCF LTM is 4.9 Bil

Stock buyback support
Stock Buyback 3Y Total is 11 Bil

Low stock price volatility
Vol 12M is 35%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Smart Buildings & Proptech. Themes include Online Marketplaces, Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -6.2%, 3Y Excs Rtn is -49%

Expensive valuation multiples
P/SPrice/Sales ratio is 8.0x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Key risks
ABNB key risks include [1] escalating global regulatory pressure on short-term rentals that directly threatens its host supply and profitability and [2] intensifying competition from traditional hotels and rival online platforms.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 14%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%, CFO LTM is 4.9 Bil, FCF LTM is 4.9 Bil
3	Stock buyback support Stock Buyback 3Y Total is 11 Bil
4	Low stock price volatility Vol 12M is 35%
5	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Smart Buildings & Proptech. Themes include Online Marketplaces, Show more.
6	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
7	Weak multi-year price returns 2Y Excs Rtn is -6.2%, 3Y Excs Rtn is -49%
8	Expensive valuation multiples P/SPrice/Sales ratio is 8.0x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x
9	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
10	Key risks ABNB key risks include [1] escalating global regulatory pressure on short-term rentals that directly threatens its host supply and profitability and [2] intensifying competition from traditional hotels and rival online platforms.

ABNB in ETFs

Weight = ABNB's share of each fund

SPY0.10%

VOO0.09%

IVV0.10%

VTI0.08%

ITOT0.09%

QQQ0.28%

QQQM0.32%

IWB0.09%

+35 more covered ETFs

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	8/9/26	2025	2024	2023	2022
Share Price			$178.05	$135.72	$131.41	$136.14	$85.50
Mkt Cap ($ Bil)			105.4	82.0	82.3	87.1	54.5
+ Debt ($ Bil)			2.5	2.1	2.1	2.3	2.3
- Cash ($ Bil)			12.1	11.0	10.6	10.1	9.6
TEV ($ Bil)			95.8	84.1	84.4	89.4	56.8
Valuation Ratios
P/S	6.8	7.5	8.0	6.7	7.4	8.8	6.5
P/EBIT	14.8	16.3	36.2	30.2	32.2	57.4	28.8
P/E	29.6	34.1	39.2	32.6	31.1	18.2	28.8
P/FCF	—	—	21.7	17.6	18.2	22.6	16.0
Sector Ratios (* = sector average)
P/S *			0.8	0.9	0.9	0.9	0.8
P/EBIT *			8.7	8.2	8.4	7.8	6.1
P/E *			13.2	11.8	11.0	10.7	8.1
P/FCF *			10.9	11.1	12.5	9.8	6.4

FYE: 12/31	Forward FYE		Now
	2027	2026	8/9/26
Share Price			$178.05
Mkt Cap ($ Bil)			105.4
+ Debt ($ Bil)			2.5
- Cash ($ Bil)			12.1
TEV ($ Bil)			95.8
Valuation Ratios
P/S	6.8	7.5	8.0
P/EBIT	14.8	16.3	36.2
P/E	29.6	34.1	39.2
P/FCF	—	—	21.7
Sector Ratios (* = sector average)
P/S *			0.8
P/EBIT *			8.7
P/E *			13.2
P/FCF *			10.9

FYE: 12/31	ABNB [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$13.2 Bil	—
FY 2026 Sales	$14.0 Bil	—
FY 2027 Sales	$15.4 Bil	—
FY 2026 Sales Growth	6.1%	—
FY 2027 Sales Growth	10.6%	12.8%
EARNINGS
LTM Net Income (GAAP) [3]	$2.7 Bil	—
FY 2026 Net Income (Non-GAAP)	$3.1 Bil	—
FY 2027 Net Income (Non-GAAP)	$3.6 Bil	—
FY 2027 Net Income Growth	15.0%	18.8%
FY 2026 EPS (Non-GAAP)	$5.12	—
FY 2027 EPS (Non-GAAP)	$6.05	—
FY 2027 EPS Growth	18.2%	—
VALUATION
FY 2026 P/S	7.5	1.8
FY 2027 P/S	6.8	—
FY 2026 P/E	34.1	8.4
FY 2027 P/E	29.6	—

[1] ABNB forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 8/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	ABNB	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	13.2
Rev Chg Q	16.5%	9.4%
Rev Chg LTM	13.6%	8.2%
Rev Chg 3Y Avg	13.2%	5.9%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	2.7
CFO LTM ($ Bil)	4.9
Net Inc LTM ($ Bil)	2.7
Op Mgn LTM	20.8%	18.5%
CFO/Rev LTM	36.9%	21.8%
Net Inc Mgn	20.4%	13.1%
VALUATION	HIGH
P/S	8.0	3.3
P/CFO	21.7	15.9
P/FCF	21.7	20.3
P/E	39.2	23.7
STABILITY	VERY GOOD
Debt/Equity	0.02	0.19
Cash/Assets	0.42	0.07

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Metric	Value	Date	Source
Nights and Experiences Booked	134.4 million	8062025	Link
Gross Booking Value	$23.5 billion	8062025	Link
Active Listings	8.1 million	9092025	Link
Average Daily Rate	$174	8062025	Link
Number of Hosts	5 million	6202025	Link

Price Chart

Recent
8/06/2026	Earnings Release	Rev: $3.0 Bil (A) vs. $3.0 Bil (E) EPS: 1.37 (A) vs. $1.26 (E)
Upcoming
11/05/2026	Earnings Release	Rev: $4.0 Bil (E) EPS: $2.72 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/7/2026

Airbnb (ABNB) stock has gained about 25% since 4/30/2026 because of the following key factors:

1. Airbnb exceeded fiscal Q2 2026 (ended June 30, 2026) expectations and provided a strong outlook.

The company reported diluted earnings per share of $1.37, surpassing analyst estimates of $1.26 by 14.17%. Revenue also climbed 16.5% year-over-year to $3.61 billion, beating the consensus estimate of $3.58 billion. This robust performance was further amplified by a 10% year-over-year increase in Nights and Seats Booked, reaching 148.3 million, and a 16% rise in Gross Booking Value (GBV) to $27.2 billion. Moreover, Airbnb raised its full-year 2026 revenue growth outlook to "at least mid-teens" and increased its adjusted EBITDA margin forecast to "at least 35.5%," signaling sustained confidence in future profitability.

2. Accelerated global travel demand significantly boosted bookings and average daily rates.

Airbnb experienced a broad-based acceleration in travel demand, with notable strength in core markets such as the United States, France, the United Kingdom, and Australia, and robust growth in expansion markets like India, Brazil, and Japan. North America, in particular, saw its strongest growth in Nights and Seats Booked in almost three years during fiscal Q2 2026. A contributing factor was the FIFA World Cup 2026™, which drove record guest numbers and host earnings across North American host cities, generating significant travel activity on the platform. The average daily rate (ADR) also increased by 5% in fiscal Q2 2026, reaching $184.

3. Strategic product innovations, including AI integration and expansion into new offerings, enhanced platform appeal and competitiveness.

Airbnb's "2026 Summer Release," launched on May 20, 2026, introduced a suite of new services and experiences, such as car rentals, grocery delivery, and airport pickups, aiming to make trips more comprehensive and convenient for guests. The company emphasized its transformation into an "AI-native company," leveraging AI-driven product improvements to accelerate innovation and enhance user engagement. Furthermore, Airbnb's strategic push into boutique and independent hotels demonstrated strong results, with hotel nights growing approximately three times faster than traditional home bookings, diversifying its offerings and appealing to a broader customer base.

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Stock Movement Drivers

Fundamental Drivers

The 26.9% change in ABNB stock from 4/30/2026 to 8/9/2026 was primarily driven by a 16.0% change in the company's P/E Multiple.

(LTM values as of)	4302026	8092026	Change
Stock Price ($)	140.36	178.05	26.9%
Change Contribution By:
Total Revenues ($ Mil)	12,241	13,159	7.5%
Net Income Margin (%)	20.5%	20.4%	-0.3%
P/E Multiple	33.8	39.2	16.0%
Shares Outstanding (Mil)	604	592	2.0%
Cumulative Contribution			26.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/9/2026

	Return	Correlation
ABNB	26.9%
Market (SPY)	7.6%	22.0%
Sector (XLY)	1.3%	42.0%

Fundamental Drivers

The 37.6% change in ABNB stock from 1/31/2026 to 8/9/2026 was primarily driven by a 30.4% change in the company's P/E Multiple.

(LTM values as of)	1312026	8092026	Change
Stock Price ($)	129.37	178.05	37.6%
Change Contribution By:
Total Revenues ($ Mil)	11,943	13,159	10.2%
Net Income Margin (%)	22.0%	20.4%	-7.2%
P/E Multiple	30.0	39.2	30.4%
Shares Outstanding (Mil)	611	592	3.2%
Cumulative Contribution			37.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/9/2026

	Return	Correlation
ABNB	37.6%
Market (SPY)	12.1%	41.2%
Sector (XLY)	-0.9%	52.9%

Fundamental Drivers

The 34.5% change in ABNB stock from 7/31/2025 to 8/9/2026 was primarily driven by a 20.9% change in the company's P/E Multiple.

(LTM values as of)	7312025	8092026	Change
Stock Price ($)	132.41	178.05	34.5%
Change Contribution By:
Total Revenues ($ Mil)	11,232	13,159	17.2%
Net Income Margin (%)	22.6%	20.4%	-9.5%
P/E Multiple	32.4	39.2	20.9%
Shares Outstanding (Mil)	621	592	4.9%
Cumulative Contribution			34.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/9/2026

	Return	Correlation
ABNB	34.5%
Market (SPY)	23.4%	41.4%
Sector (XLY)	8.9%	50.9%

Fundamental Drivers

The 17.0% change in ABNB stock from 7/31/2023 to 8/9/2026 was primarily driven by a 51.1% change in the company's Total Revenues ($ Mil).

(LTM values as of)	7312023	8092026	Change
Stock Price ($)	152.19	178.05	17.0%
Change Contribution By:
Total Revenues ($ Mil)	8,708	13,159	51.1%
Net Income Margin (%)	23.3%	20.4%	-12.2%
P/E Multiple	47.6	39.2	-17.6%
Shares Outstanding (Mil)	634	592	7.1%
Cumulative Contribution			17.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/9/2026

	Return	Correlation
ABNB	17.0%
Market (SPY)	74.9%	54.9%
Sector (XLY)	41.1%	57.3%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
ABNB Return	13%	-49%	59%	-3%	3%	12%	3%
Peers Return	28%	-20%	58%	29%	19%	9%	170%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	105%
Monthly Win Rates [3]
ABNB Win Rate	58%	33%	67%	58%	58%	62%
Peers Win Rate	53%	45%	62%	63%	60%	60%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
ABNB Max Drawdown	-39%	-56%	-26%	-33%	-35%	-17%
Peers Max Drawdown	-21%	-39%	-18%	-20%	-30%	-22%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: BKNG, EXPE, MAR, HLT, H. See ABNB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)

Event	ABNB	S&P 500
2025 US Tariff Shock
% Loss	-33.1%	-18.8%
% Gain to Breakeven	49.5%	23.1%
Time to Breakeven	486 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-25.6%	-7.8%
% Gain to Breakeven	34.4%	8.5%
Time to Breakeven	191 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-23.2%	-9.5%
% Gain to Breakeven	30.3%	10.5%
Time to Breakeven	91 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-10.3%	-6.7%
% Gain to Breakeven	11.5%	7.1%
Time to Breakeven	8 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-48.4%	-24.5%
% Gain to Breakeven	93.8%	32.4%
Time to Breakeven	1499 days	427 days

Compare to BKNG, EXPE, MAR, HLT, H

In The Past

Airbnb's stock fell -33.1% during the 2025 US Tariff Shock. Such a loss loss requires a 49.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	ABNB	S&P 500
2025 US Tariff Shock
% Loss	-33.1%	-18.8%
% Gain to Breakeven	49.5%	23.1%
Time to Breakeven	486 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-25.6%	-7.8%
% Gain to Breakeven	34.4%	8.5%
Time to Breakeven	191 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-23.2%	-9.5%
% Gain to Breakeven	30.3%	10.5%
Time to Breakeven	91 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-48.4%	-24.5%
% Gain to Breakeven	93.8%	32.4%
Time to Breakeven	1499 days	427 days

Compare to BKNG, EXPE, MAR, HLT, H

In The Past

Airbnb's stock fell -33.1% during the 2025 US Tariff Shock. Such a loss loss requires a 49.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Airbnb (ABNB)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

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Airbnb, Inc. (ABNB) operates as a leading global online marketplace connecting individuals who want to rent out their properties or offer unique activities (hosts) with travelers seeking accommodation or experiences (guests). The company's innovative platform leverages web and mobile technologies to facilitate these transactions, essentially acting as an intermediary that streamlines the booking process for both parties worldwide.

The core of Airbnb's offerings centers on short-term rentals, encompassing a wide variety of lodging options such as private rooms, entire primary residences, and vacation homes. Beyond just accommodation, the platform also enables hosts to list and manage "experiences," which are curated activities like cooking classes, walking tours, or local adventures, providing guests with a more immersive travel experience.

Airbnb serves a diverse global customer base, primarily comprising property owners or individuals with spare rooms looking to earn income as hosts, and travelers seeking alternatives to conventional hotels. These guests typically look for unique stays, a sense of local immersion, or more spacious and personalized lodging options, catering to both leisure and business travel markets across the globe.

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1. eBay for private accommodations

2. Expedia for unique stays and experiences

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Airbnb Products and Services

Major Products and Services of Airbnb (ABNB)

Stays: A global marketplace connecting guests with hosts offering a diverse range of accommodations, including private rooms, entire homes, and vacation rentals.
Experiences: A platform for hosts to offer unique activities and tours, allowing guests to discover and book immersive local experiences.

AI Analysis | Feedback

Airbnb (ABNB) sells primarily to individuals. Its major customer categories include:

Leisure Travelers: Individuals, couples, families, and groups seeking short-term accommodations for vacations, holidays, and recreational trips.
Business Travelers: Professionals and teams utilizing the platform for work-related travel, including individual business trips, team off-sites, and project-based stays.
Long-Term Stay Guests: Individuals and families requiring extended accommodations for purposes such as relocation, temporary assignments, or extended personal travel.

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Amazon.com, Inc. (AMZN)
Alphabet Inc. (GOOGL)
PayPal Holdings, Inc. (PYPL)

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Brian Chesky, Chief Executive Officer

Brian Chesky is the co-founder and Chief Executive Officer of Airbnb. He sets the vision and strategy for the company. In 2007, he and Joe Gebbia became Airbnb's first hosts. A graduate of the Rhode Island School of Design, Chesky has embedded his creative roots in Airbnb's culture, product, and community. Prior to co-founding Airbnb, he worked as an industrial designer.

Ellie Mertz, Chief Financial Officer

Ellie Mertz has served as Chief Financial Officer of Airbnb since March 2024. She oversees Airbnb's global finance team, including financial planning and analysis, accounting, tax, treasury, and investor relations. Mertz joined Airbnb in 2013 as Head of Global Financial Planning & Analysis and became Vice President of Finance in 2019. Before joining Airbnb, she held various finance roles, including Vice President of Finance, at Netflix from 2006 to 2013. She also serves on the boards of directors for DoorDash, Faire Wholesale, and Netflix.

Dave Stephenson, Chief Business Officer and Head of Employee Experience

Dave Stephenson is currently the Chief Business Officer and Head of Employee Experience at Airbnb. In this role, he focuses on growing global businesses, recruiting and developing supply, and executing global in-market strategy, while also overseeing talent, leadership development, and diversity initiatives. He previously served as Airbnb's Chief Financial Officer for five years. Prior to joining Airbnb in January 2019, Stephenson spent 17 years at Amazon, where he was Vice President and CFO of their Worldwide Consumer Organization and CFO of Amazon's International Consumer business. He also led the finance function across areas like Amazon Web Services. Earlier in his career, he was President and CFO of Big Fish Games and started as a manufacturing engineer and finance manager at Procter and Gamble. Stephenson serves on the boards of Lyft and SiriusXM.

Nathan Blecharczyk, Co-founder and Chief Strategy Officer

Nathan (Nate) Blecharczyk is a co-founder of Airbnb and serves as its Chief Strategy Officer. He also holds the position of Chairman of Airbnb China. Blecharczyk received a Bachelor of Arts degree in Computer Science from Harvard University. He is a signatory to the Giving Pledge.

Aristotle Balogh, Chief Technology Officer

Aristotle Balogh serves as the Chief Technology Officer at Airbnb. Further background details were not readily available in the provided search results.

AI Analysis | Feedback

The key risks to Airbnb (ABNB) are primarily centered around evolving regulatory environments, intense competition, and the critical need to maintain a strong base of hosts and guests.

Regulatory and Compliance Risks: Airbnb faces significant and ever-changing regulatory challenges globally. Numerous cities and governments have implemented or are considering strict laws, zoning restrictions, permit requirements, and taxes specifically targeting short-term rentals. These regulations aim to address concerns such as housing affordability, neighborhood impact, and safety. Non-compliance can lead to substantial fines, operational disruptions, and in some cases, outright prohibitions on short-term rentals, directly impacting Airbnb's ability to operate in key markets and potentially reducing its host supply.
Competition: The travel and hospitality industry is highly competitive, posing a significant risk to Airbnb's market share and pricing power. The company faces formidable competition from traditional hotel chains, many of which are expanding their own vacation rental offerings, as well as from other established online travel agencies (OTAs) like Booking.com and Expedia Group. These competitors often possess substantial financial resources, established brand recognition, and extensive customer loyalty programs. This intense competitive landscape can lead to pressure on Average Daily Rates (ADR) and a constant need for innovation to differentiate its platform.
Host and Guest Retention and Supply/Demand Dynamics: Airbnb's marketplace model is highly dependent on its ability to attract and retain a diverse base of high-quality hosts and a consistent flow of guests. Risks include potential host dissatisfaction due to evolving platform policies, increasing fees, or stringent guest-first rules, which could lead some hosts to seek alternative platforms or exit the short-term rental market altogether. On the guest side, maintaining the platform's appeal and ensuring consistent quality experiences are crucial. The business is also sensitive to broader macroeconomic conditions, changes in discretionary travel spending, and general fluctuations in supply and demand within the travel and hospitality industries.

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The increasing global trend of stringent regulations and restrictions on short-term rentals in major cities and tourist destinations represents a clear emerging threat to Airbnb. Governments and local authorities worldwide are implementing new laws, higher taxes, registration requirements, and even outright bans or strict caps on rental days (e.g., New York, Paris, Barcelona, London), directly impacting the supply of listings, operational costs for hosts, and Airbnb's ability to operate and expand in key markets. This regulatory environment is becoming more widespread and aggressive, posing a significant challenge to Airbnb's core business model and growth.

AI Analysis | Feedback

For the public company Airbnb (symbol: ABNB), the addressable markets for its main products and services are as follows:

Stays (Accommodation Market)

Airbnb's total addressable market (TAM) for stays is estimated to be approximately $2.01 trillion globally. This figure is based on their IPO documents, which identified a market of $1.8 trillion for short-term stays and $210 billion for long-term stays.

Other estimates for the global accommodation market include:

The global travel accommodation market was valued at $961.6 billion in 2025 and is projected to reach $2,187.5 billion by 2034.
The global alternative accommodation market was estimated at $127.28 billion in 2021 and is projected to reach $504.95 billion by 2030.
The global travel accommodation market was valued at $797.7 billion in 2023 and is projected to reach $3,144.7 billion by 2035.

Experiences Market

Airbnb's IPO documents claimed a total addressable market (TAM) for Experiences of a striking $1.4 trillion globally. This figure includes $239 billion in recreational leisure spend by tourists and another $1.1 trillion in non-travel-related recreational spend.

Other analyses of the global experiences market indicate:

The global market for tours, activities, and attractions is projected to reach $271 billion in 2025 and $342 billion by 2029.
The global market for travel experiences (destination visitors) could be more than $1 trillion.
The global experience travel services market size was valued at USD 138.00 billion in 2024 and is expected to grow to USD 372.93 billion by 2034.

AI Analysis | Feedback

Airbnb (ABNB) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Expansion of Offerings and Services: Airbnb plans to significantly broaden its platform beyond traditional short-term stays to include a wider range of services and experiences. This includes an expansion into boutique and independent hotel offerings, as well as the ambition to launch two new business lines annually, such as a "Host Services Marketplace" for cleaners and chefs. The company is also focusing on local experiences, positioning itself as a "weekend lifestyle app" rather than solely a travel tool, and testing new services like grocery delivery and airport pickup.
Product Innovations and Enhanced User Experience: Airbnb is focused on continuous product improvements and pricing initiatives to simplify booking and improve overall satisfaction for both guests and hosts. Initiatives such as "Reserve Now, Pay Later," simplified fee structures, and updated cancellation policies have already driven positive shifts in booking dynamics and contributed to Gross Booking Value (GBV) growth. "Project Hawaii," aimed at making it easier to find and book homes, is also expected to generate significant revenue in 2026, building on its 2025 success.
Global Market Expansion and Penetration: The company is actively expanding its presence in new and existing international markets. This strategy is evident in the strong performance and increased first-time bookers in regions like Brazil, which has entered Airbnb's top five markets, as well as significant growth in India and Japan. Strategic market penetration is also being leveraged through global events such as the Olympics and FIFA World Cup, presenting opportunities to increase both demand and supply diversity.
Leveraging Artificial Intelligence (AI): Airbnb considers AI a central pillar of its strategy to enhance user experience and operational efficiency. AI is being utilized to drive discovery and personalize recommendations. Furthermore, an in-house AI agent is already resolving a substantial portion of customer support tickets, which streamlines operations and improves service delivery.
Growth in Nights and Seats Booked & Gross Booking Value (GBV): As a culmination of the aforementioned strategies, Airbnb anticipates continued growth in its core metrics: the number of nights and seats booked, and Gross Booking Value. The company's Q4 2025 results showed a 10% increase in nights and seats booked and a 16% increase in GBV, with management projecting continued high-single-digit growth in nights and seats booked for Q1 2026. The disciplined investment in technology, product, and marketing is aimed at sustaining this momentum.

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Share Repurchases

Airbnb announced a new share repurchase program with authorization to purchase up to an additional $6 billion of its Class A common stock in August 2025, with no expiration date.
As of December 31, 2025, $5.6 billion remained available under the share repurchase program.
The company repurchased 29.7 million shares of Class A common stock for $3.8 billion in 2025, following $3.4 billion in 2024 and $2.252 billion in 2023.

Share Issuance

Share repurchases since the program's inception in August 2022 have helped to offset dilution from employee stock programs.
Stock-based compensation, a form of share issuance, was approximately $1.59 billion recently, contributing to increased compensation expenses.
Insider sales, such as those by Elinor Mertz in late 2025 and early 2026 and Joseph Gebbia's associated Sycamore Trust in late 2025 and March 2026, reflect the disposition of Class A common shares.

Outbound Investments

Airbnb's most recent acquisition was GamePlanner.AI in November 2023 for $200 million, a provider of artificial intelligence development services.
In April 2023, Airbnb acquired Letting Cloud for an undisclosed amount.
The average number of acquisitions per year over the last five years (2020–2025) is 0.4.

Capital Expenditures

Airbnb's capital expenditures have been consistently very low, with a capital expenditures margin of 0.0% for fiscal years ending December 2021 through 2025.
The capital expenditure for the three months ended December 2025 was $0.00 million.
This reflects Airbnb's asset-light, platform-based business model.

Interactive Breakdown

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Better Bets vs. Airbnb (ABNB)

Viking

Higher CFO/Rev LTM (Value for ABNB: 36.9%)

VIK (40.8%)

Viking

Higher Total Yield (Value for ABNB: 2.6%)

CCL (8.3%)

Carnival Corporation

RCL (6.5%)

Royal Caribbean

EXPE (6.0%)

Expedia

BKNG (5.2%)

Booking

MAR (3.6%)

Marriott International

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for ABNB: 13.2% | 8.0x)

BKNG (13.5% | 5.8x)

Booking

DASH (27.5% | 5.9x)

DoorDash

MELI (40.5% | 2.6x)

MercadoLibre

RCL (16.2% | 4.6x)

Royal Caribbean

GRMN (16.0% | 7.8x)

Garmin

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ABNB: 13.2% | 38.5x)

BKNG (13.5% | 16.9x)

Booking

MELI (40.5% | 31.8x)

MercadoLibre

RCL (16.2% | 16.8x)

Royal Caribbean

GRMN (16.0% | 28.3x)

Garmin

CVNA (30.8% | 22.7x)

Carvana

Higher Rev Chg LTM (Value for ABNB: 13.6%)

CVNA (54.0%)

Carvana

MELI (46.0%)

MercadoLibre

DASH (33.6%)

DoorDash

AMZN (15.8%)

Amazon.com

EBAY (14.7%)

eBay

Higher Rev Chg 3Y Avg (Value for ABNB: 13.2%)

MELI (40.5%)

MercadoLibre

DASH (27.5%)

DoorDash

RCL (16.2%)

Royal Caribbean

GRMN (16.0%)

Garmin

BKNG (13.5%)

Booking

Higher Op Mgn LTM (Value for ABNB: 20.8%)

MCD (45.7%)

McDonald's

BKNG (34.5%)

Booking

GRMN (27.6%)

Garmin

RCL (27.3%)

Royal Caribbean

HLT (23.3%)

Hilton Worldwide

Higher CFO/Rev LTM (Value for ABNB: 36.9%)

ADT (41.8%)

ADT

MCD (41.0%)

McDonald's

VIK (40.8%)

Viking

MELI (39.5%)

MercadoLibre

DUOL (37.6%)

Duolingo

Higher FCF/Rev LTM (Value for ABNB: 36.9%)

WINA (47.4%)

Winmark

Higher Total Yield (Value for ABNB: 2.6%)

MCD (7.2%)

McDonald's

HD (6.6%)

Home Depot

BKNG (5.2%)

Booking

AMZN (4.6%)

Amazon.com

TJX (4.3%)

TJX Companies

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ABNB: 13.2% | 8.0x)

META (23.8% | 6.6x)

Meta Platforms

BRK-B (15.3% | 2.7x)

Berkshire Hathaway

GE (26.2% | 7.6x)

GE Aerospace

MS (13.5% | 4.6x)

Morgan Stanley

GS (13.2% | 4.7x)

Goldman Sachs

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ABNB: 13.2% | 38.5x)

NVDA (121.7% | 33.5x)

NVIDIA

GOOGL (15.5% | 29.2x)

Alphabet

MSFT (16.1% | 23.9x)

Microsoft

META (23.8% | 17.3x)

Meta Platforms

LLY (39.4% | 26.7x)

Eli Lilly

Higher Rev Chg LTM (Value for ABNB: 13.6%)

NVDA (70.7%)

NVIDIA

AVGO (32.3%)

Broadcom

GOOGL (20.1%)

Alphabet

MSFT (17.8%)

Microsoft

AAPL (14.2%)

Apple

Higher Rev Chg 3Y Avg (Value for ABNB: 13.2%)

NVDA (121.7%)

NVIDIA

AVGO (29.3%)

Broadcom

META (23.8%)

Meta Platforms

MSFT (16.1%)

Microsoft

GOOGL (15.5%)

Alphabet

Higher Op Mgn LTM (Value for ABNB: 20.8%)

NVDA (64.0%)

NVIDIA

MSFT (46.8%)

Microsoft

PM (37.7%)

Philip Morris International

AAPL (33.2%)

Apple

GOOGL (33.1%)

Alphabet

Higher CFO/Rev LTM (Value for ABNB: 36.9%)

META (57.1%)

Meta Platforms

MSFT (55.1%)

Microsoft

NVDA (49.6%)

NVIDIA

AVGO (44.6%)

Broadcom

GOOGL (41.6%)

Alphabet

Higher FCF/Rev LTM (Value for ABNB: 36.9%)

BAC (78.2%)

Bank of America

V (47.2%)

Visa

NVDA (47.0%)

NVIDIA

MA (45.5%)

Mastercard

AVGO (43.4%)

Broadcom

Higher Total Yield (Value for ABNB: 2.6%)

GOOGL (5.9%)

Alphabet

META (4.9%)

Meta Platforms

MSFT (4.3%)

Microsoft

AAPL (3.1%)

Apple

NVDA (3.0%)

NVIDIA

Best Bets in Consumer Discretionary

What You Pay

P/EBIT (Value for ABNB: 36.2x)

ABNB (36.2x)

Airbnb

BKNG (15.8x)

Booking

DUOL (38.9x)

Duolingo

MCD (15.2x)

McDonald's

LOPE (12.6x)

Grand Canyon Education

GRMN (28.3x)

Garmin

DECK (10.2x)

Deckers Outdoor

YUM (15.3x)

Yum Brands

EXPE (13.4x)

Expedia

CROX (8.0x)

Crocs

P/E (Value for ABNB: 39.2x)

ABNB (39.2x)

Airbnb

BKNG (22.8x)

Booking

DUOL (14.9x)

Duolingo

MCD (22.2x)

McDonald's

LOPE (17.8x)

Grand Canyon Education

GRMN (31.9x)

Garmin

DECK (13.3x)

Deckers Outdoor

YUM (18.7x)

Yum Brands

EXPE (18.3x)

Expedia

CROX (11.3x)

Crocs

What You Get

Rev Chg 3Y Avg (Value for ABNB: 13.2%)

ABNB (13.2%)

Airbnb

BKNG (13.5%)

Booking

DUOL (37.4%)

Duolingo

MCD (4.6%)

McDonald's

LOPE (7.2%)

Grand Canyon Education

GRMN (16.0%)

Garmin

DECK (14.5%)

Deckers Outdoor

YUM (7.8%)

Yum Brands

EXPE (8.6%)

Expedia

CROX (1.5%)

Crocs

Rev Chg LTM (Value for ABNB: 13.6%)

ABNB (13.6%)

Airbnb

BKNG (12.9%)

Booking

DUOL (29.4%)

Duolingo

MCD (6.3%)

McDonald's

LOPE (7.0%)

Grand Canyon Education

GRMN (13.5%)

Garmin

DECK (7.9%)

Deckers Outdoor

YUM (10.3%)

Yum Brands

EXPE (12.0%)

Expedia

CROX (-2.0%)

Crocs

Rev Chg Q (Value for ABNB: 16.5%)

ABNB (16.5%)

Airbnb

BKNG (8.1%)

Booking

DUOL (18.3%)

Duolingo

MCD (3.8%)

McDonald's

LOPE (6.7%)

Grand Canyon Education

GRMN (11.4%)

Garmin

DECK (5.7%)

Deckers Outdoor

YUM (12.3%)

Yum Brands

EXPE (14.0%)

Expedia

CROX (2.6%)

Crocs

FCF/Rev 3Y Avg (Value for ABNB: 38.5%)

ABNB (38.5%)

Airbnb

BKNG (34.7%)

Booking

DUOL (34.7%)

Duolingo

MCD (27.3%)

McDonald's

LOPE (22.7%)

Grand Canyon Education

GRMN (20.5%)

Garmin

DECK (19.5%)

Deckers Outdoor

YUM (19.3%)

Yum Brands

EXPE (19.3%)

Expedia

CROX (19.2%)

Crocs

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Airbnb stock vs Booking stock: Which Is A Better Investment?	08/05/2026
2	BKNG, LIND Beat Airbnb Stock on Price & Growth	07/16/2026
3	Forget Timing the Bottom: Earn 8.7% While You Wait for ABNB on Sale	06/02/2026
4	Airbnb Earnings Notes	05/06/2026
5	This Strategy Pays You 9.5% While Lining Up ABNB at Bargain Prices	04/28/2026
6	How Does Airbnb Stock Stack Up Against Its Peers?	03/16/2026
7	ABNB Stock Surges 10% With A 5-day Winning Spree On Strong Guidance	02/21/2026
8	Could Cash Machine Airbnb Stock Be Your Next Buy?	02/13/2026
9	ARTICLES
10	Own ABNB Stock? Here Is How To Collect 12% A Year On It	08/05/2026
11	The Premium On Airbnb Keeps Growing. So Does The Case For Booking	07/16/2026
12	Own ABNB Stock? Here Is How To Collect 14% A Year On It	07/02/2026
13	Better Value & Growth: BKNG Leads Airbnb Stock	06/05/2026
14	Is Airbnb Stock Set Up For A Re-rating?	05/21/2026

	Title
0	DASHBOARDS
1	Airbnb stock vs Booking stock: Which Is A Better Investment?
2	BKNG, LIND Beat Airbnb Stock on Price & Growth
3	Forget Timing the Bottom: Earn 8.7% While You Wait for ABNB on Sale
4	Airbnb Earnings Notes
5	This Strategy Pays You 9.5% While Lining Up ABNB at Bargain Prices
6	How Does Airbnb Stock Stack Up Against Its Peers?
7	ABNB Stock Surges 10% With A 5-day Winning Spree On Strong Guidance
8	Could Cash Machine Airbnb Stock Be Your Next Buy?
9	ARTICLES
10	Own ABNB Stock? Here Is How To Collect 12% A Year On It
11	The Premium On Airbnb Keeps Growing. So Does The Case For Booking
12	Own ABNB Stock? Here Is How To Collect 14% A Year On It
13	Better Value & Growth: BKNG Leads Airbnb Stock
14	Is Airbnb Stock Set Up For A Re-rating?

Trade Ideas

Select ideas related to ABNB.

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Recent Active Movers

Top Gainers

Ticker	Company	Category	1D Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	7.8%	5.9%
NASA	Tema Space Innovators ETF	Equity	5.8%	1.5%
ARKK	ARK Innovation ETF	Equity	4.9%	3.3%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	4.5%	-0.0%
URA	Global X Uranium ETF	Equity	4.0%	5.1%
ARKX	ARK Space & Defense Innovation ETF	Equity	3.8%	-1.8%
ARKQ	ARK Autonomous Technology & Robotics ETF	Equity	3.8%	11.5%
IGV	iShares Expanded Tech-Software Sector...	Equity	3.3%	-2.8%
ARKW	ARK Next Generation Internet ETF	Equity	3.1%	0.1%
SLV	iShares Silver Trust	Commodity	3.0%	-10.7%

Top Losers

Ticker	Company	Category	1D Rtn	YTD Rtn
EWZ	iShares MSCI Brazil ETF	Equity	-1.3%	11.2%
XLE	State Street Energy Select Sector SPD...	Equity	-1.1%	29.4%
ILF	iShares Latin America 40 ETF	Equity	-0.8%	13.7%
USO	United States Oil Fund LP	Commodity	-0.7%	70.6%
FXN	First Trust Energy AlphaDEX Fund	Equity	-0.5%	30.7%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	-0.4%	32.3%
KRE	State Street SPDR S&P Regional Bankin...	Equity	-0.4%	18.3%
XLF	State Street Financial Select Sector ...	Equity	-0.4%	5.7%
IYJ	iShares U.S. Industrials ETF	Equity	-0.1%	13.8%
JEPI	JPMorgan Equity Premium Income ETF	Equity	-0.0%	4.8%

Top Gainers

Ticker	Company	Category	1W Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	22.3%	5.9%
NASA	Tema Space Innovators ETF	Equity	18.2%	1.5%
URA	Global X Uranium ETF	Equity	14.9%	5.1%
ARKX	ARK Space & Defense Innovation ETF	Equity	12.0%	-1.8%
ARKK	ARK Innovation ETF	Equity	11.5%	3.3%
ARKQ	ARK Autonomous Technology & Robotics ETF	Equity	11.1%	11.5%
GDE	WisdomTree Efficient Gold Plus Equity...	Equity	10.2%	-4.3%
SLV	iShares Silver Trust	Commodity	9.8%	-10.7%
MISL	First Trust Indxx Aerospace & Defense...	Equity	9.7%	10.4%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	9.2%	74.5%

Top Losers

Ticker	Company	Category	1W Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	-8.7%	70.6%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	-6.2%	32.3%
EWZ	iShares MSCI Brazil ETF	Equity	-3.6%	11.2%
XLE	State Street Energy Select Sector SPD...	Equity	-3.4%	29.4%
UNG	United States Natural Gas Fund LP	Commodity	-3.2%	-20.6%
FXN	First Trust Energy AlphaDEX Fund	Equity	-3.0%	30.7%
ILF	iShares Latin America 40 ETF	Equity	-2.1%	13.7%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	-1.8%	29.3%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	-1.8%	30.2%
XLU	State Street Utilities Select Sector ...	Equity	-1.7%	2.9%

Top Gainers

Ticker	Company	Category	1M Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	19.8%	5.9%
PALL	ETFS Physical Palladium Shares	Commodity	10.4%	-13.8%
ETHA	iShares Ethereum Trust ETF	Cryptocurrency	9.7%	-35.5%
IGV	iShares Expanded Tech-Software Sector...	Equity	9.4%	-2.8%
PPLT	ETFS Physical Platinum Shares	Commodity	8.4%	-15.0%
COWZ	Pacer US Cash Cows 100 ETF	Equity	8.3%	15.4%
FXI	iShares China Large-Cap ETF	Equity	8.3%	-5.5%
KWEB	KraneShares CSI China Internet ETF	Equity	8.2%	-15.8%
USO	United States Oil Fund LP	Commodity	8.2%	70.6%
AKRE	Akre Focus ETF	Equity	7.5%	-10.1%

Top Losers

Ticker	Company	Category	1M Rtn	YTD Rtn
EWY	iShares MSCI South Korea ETF	Equity	-10.1%	70.8%
UNG	United States Natural Gas Fund LP	Commodity	-10.1%	-20.6%
SOXX	iShares Semiconductor ETF	Equity	-6.6%	80.5%
ICLN	iShares Global Clean Energy ETF	Equity	-5.3%	11.4%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-4.7%	74.5%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	-4.5%	-0.0%
NASA	Tema Space Innovators ETF	Equity	-4.3%	1.5%
XBI	State Street SPDR S&P Biotech ETF	Equity	-4.2%	29.1%
SMH	VanEck Semiconductor ETF	Equity	-4.1%	61.8%
MTUM	iShares MSCI USA Momentum Factor ETF	Equity	-3.7%	23.7%

Peer Comparisons

Peers to compare with:

Financials

	ABNB	BKNG	EXPE	MAR	HLT	H	Median
Name	Airbnb	Booking	Expedia	Marriott.	Hilton W.	Hyatt Ho.
Mkt Price	178.05	213.97	310.68	354.50	317.80	177.71	262.32
Mkt Cap	105.4	164.3	37.4	93.6	72.1	16.8	82.8
Rev LTM	13,159	28,241	15,700	26,904	12,485	7,152	14,430
Op Inc LTM	2,738	9,741	2,738	4,233	2,915	510	2,826
FCF LTM	4,860	9,539	4,459	3,132	1,939	252	3,796
FCF 3Y Avg	4,505	8,762	2,821	2,502	1,934	346	2,661
CFO LTM	4,860	9,859	5,216	3,728	2,109	443	4,294
CFO 3Y Avg	4,510	9,128	3,587	3,133	2,128	530	3,360

Growth & Margins

	ABNB	BKNG	EXPE	MAR	HLT	H	Median
Name	Airbnb	Booking	Expedia	Marriott.	Hilton W.	Hyatt Ho.
Rev Chg LTM	13.6%	12.9%	12.0%	4.7%	8.7%	5.8%	10.4%
Rev Chg 3Y Avg	13.2%	13.5%	8.6%	5.5%	8.6%	3.2%	8.6%
Rev Chg Q	16.5%	8.1%	14.0%	4.8%	6.5%	1.2%	7.3%
QoQ Delta Rev Chg LTM	4.0%	2.0%	3.5%	1.2%	1.7%	0.3%	1.8%
Op Inc Chg LTM	5.1%	18.5%	60.2%	7.2%	20.1%	16.4%	17.5%
Op Inc Chg 3Y Avg	16.6%	17.9%	29.3%	1.6%	8.5%	7.6%	12.6%
Op Mgn LTM	20.8%	34.5%	17.4%	15.7%	23.3%	7.1%	19.1%
Op Mgn 3Y Avg	19.5%	31.9%	13.9%	15.7%	22.1%	6.3%	17.6%
QoQ Delta Op Mgn LTM	0.3%	0.2%	1.3%	-0.3%	0.3%	0.4%	0.3%
CFO/Rev LTM	36.9%	34.9%	33.2%	13.9%	16.9%	6.2%	25.1%
CFO/Rev 3Y Avg	38.6%	36.2%	24.6%	12.2%	18.4%	7.8%	21.5%
FCF/Rev LTM	36.9%	33.8%	28.4%	11.6%	15.5%	3.5%	22.0%
FCF/Rev 3Y Avg	38.5%	34.7%	19.3%	9.7%	16.7%	5.1%	18.0%

Valuation

	ABNB	BKNG	EXPE	MAR	HLT	H	Median
Name	Airbnb	Booking	Expedia	Marriott.	Hilton W.	Hyatt Ho.
Mkt Cap	105.4	164.3	37.4	93.6	72.1	16.8	82.8
P/S	8.0	5.8	2.4	3.5	5.8	2.3	4.6
P/Op Inc	38.5	16.9	13.6	22.1	24.7	32.9	23.4
P/EBIT	36.2	15.8	13.4	21.6	24.9	31.3	23.2
P/E	39.2	22.8	18.3	36.2	45.5	212.1	37.7
P/CFO	21.7	16.7	7.2	25.1	34.2	37.8	23.4
Total Yield	2.6%	5.2%	6.0%	3.6%	2.4%	0.8%	3.1%
Dividend Yield	0.0%	0.8%	0.6%	0.8%	0.2%	0.3%	0.5%
FCF Yield 3Y Avg	5.2%	5.8%	12.0%	3.1%	3.0%	2.2%	4.1%
D/E	0.0	0.1	0.2	0.2	0.2	0.3	0.2
Net D/E	-0.1	0.0	-0.0	0.2	0.2	0.2	0.1

Returns

	ABNB	BKNG	EXPE	MAR	HLT	H	Median
Name	Airbnb	Booking	Expedia	Marriott.	Hilton W.	Hyatt Ho.
1M Rtn	19.8%	19.9%	14.7%	-5.7%	-5.3%	-7.0%	4.7%
3M Rtn	25.8%	29.3%	35.4%	0.6%	0.4%	6.1%	16.0%
6M Rtn	45.7%	20.6%	31.7%	6.8%	1.2%	9.3%	14.9%
12M Rtn	47.1%	-0.2%	60.4%	37.6%	21.4%	31.3%	34.4%
3Y Rtn	30.9%	69.5%	181.7%	75.0%	106.2%	53.3%	72.3%
1M Excs Rtn	18.4%	19.1%	13.2%	-7.7%	-8.7%	-9.3%	2.8%
3M Excs Rtn	21.0%	19.5%	17.4%	-4.8%	-6.5%	-1.4%	8.0%
6M Excs Rtn	32.7%	6.9%	20.8%	-5.1%	-11.1%	-2.7%	2.1%
12M Excs Rtn	14.2%	-24.8%	46.9%	13.8%	-0.2%	8.8%	11.3%
3Y Excs Rtn	-48.7%	17.6%	94.7%	7.2%	37.1%	-24.8%	12.4%

Comparison Analyses

	Title
0	How Does Airbnb Stock Stack Up Against Its Peers?
1	Airbnb vs. Intuitive Surgical: With Return Forecast Of 64%, Airbnb Is A Better Bet
2	Airbnb vs. MercadoLibre: With Return Forecast Of 64%, Airbnb Is A Better Bet
3	Airbnb vs. Uber Technologies: With Return Forecast Of 64%, Airbnb Is A Better Bet
4	Airbnb vs. ServiceNow: With Return Forecast Of 70%, Airbnb Is A Better Bet
5	Airbnb vs. American Tower: With Return Forecast Of 70%, Airbnb Is A Better Bet
6	Airbnb vs. DoorDash: With Return Forecast Of 70%, Airbnb Is A Better Bet
7	Airbnb vs. Marriott International: With Return Forecast Of 72%, Airbnb Is A Better Bet
8	Airbnb vs. Expedia: With Return Forecast Of 72%, Airbnb Is A Better Bet
9	Airbnb vs. Tripadvisor: With Return Forecast Of 72%, Airbnb Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	6/30/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	8/6/2026	2/12/2026	2/13/2025	2/16/2024	2/17/2023	2/25/2022	2/26/2021
Key Financials
Total Revenue	13,159	12,241	11,102	9,917	8,399	5,992	3,378
Gross Profit	10,909	10,155	9,224	8,214	6,900	4,836	2,502
EBITDA	2,914	2,544	2,553	1,518	1,972	276	-4,384
Operating Income	2,738	2,544	2,553	1,518	1,891	542	-3,439
Net Income	2,691	2,511	2,648	4,792	1,893	-352	-4,585
EPS	4.46	4.10	4.19	7.52	2.97	-0.57	-16.12
Growth Rates
Total Revenue Growth	13.6%	10.3%	11.9%	18.1%	40.2%	77.4%	-29.7%
EBITDA Growth	4.9%	-0.4%	68.2%	-23.0%	614.5%	106.3%	-1424.6%
Operating Income Growth	5.1%	-0.4%	68.2%	-19.7%	248.9%	115.8%	-585.6%
Net Income Growth	2.5%	-5.2%	-44.7%	153.1%	637.8%	92.3%	-579.9%
Margins
Gross Margin	82.9%	83.0%	83.1%	82.8%	82.2%	80.7%	74.1%
EBITDA Margin	22.1%	20.8%	23.0%	15.3%	23.5%	4.6%	-129.8%
Operating Income Margin	20.8%	20.8%	23.0%	15.3%	22.5%	9.0%	-101.8%
Net Income Margin	20.4%	20.5%	23.9%	48.3%	22.5%	-5.9%	-135.7%
Cash & Debt
Total Cash	12,069	11,014	10,611	10,071	9,622	8,322	6,391
Total Debt	2,496	2,067	2,058	2,304	2,341	2,418	2,330
Net Debt / (Cash)	-9,573	-8,947	-8,553	-7,767	-7,281	-5,904	-4,061
Cash Flows & CapEx
Net Cash from Operations	4,860	4,646	4,518	3,884	3,430	2,313	-630
Total CapEx	0	0	0	0	-25	-25	-37
Free Cash from Operations	4,860	4,646	4,518	3,884	3,405	2,288	-667
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	4,111	3,789	3,430	2,252	1,500	-0	-0

$ Mil \| FY: 12/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023
Filing Date	8/6/2026	5/7/2026	2/12/2026	11/6/2025	8/6/2025	5/1/2025	2/13/2025	11/7/2024	8/6/2024	5/8/2024	2/16/2024	11/1/2023
Key Financials Quarterly
Total Revenue	3,608	2,678	2,778	4,095	3,096	2,272	2,480	3,732	2,748	2,142	2,218	3,397
Ebitda	934	86	269	1,625	785	38	430	1,525	497	115	-496	1,504
Operating Income	758	86	269	1,625	612	38	430	1,525	497	101	-496	1,496
Net Income	816	160	341	1,374	642	154	461	1,368	555	264	-349	4,374
EPS	1.38	0.27	0.56	2.25	1.04	0.25	0.74	2.17	0.87	0.41	-0.55	6.83
Key Financials TTM
Total Revenue TTM	13,159	12,647	12,241	11,943	11,580	11,232	11,102	10,840	10,505	10,241	9,917	9,601
Ebitda TTM	2,914	2,765	2,717	2,878	2,778	2,490	2,567	1,641	1,620	1,655	1,546	2,282
Operating Income TTM	2,738	2,592	2,544	2,705	2,605	2,490	2,553	1,627	1,598	1,624	1,518	2,249
Net Income TTM	2,691	2,517	2,511	2,631	2,625	2,538	2,648	1,838	4,844	4,939	4,792	5,460
Growth Rates Quarterly
Total Revenue Growth	16.5%	17.9%	12.0%	9.7%	12.7%	6.1%	11.8%	9.9%	10.6%	17.8%	16.6%	17.8%
EBITDA Growth	19.0%	126.3%	-37.4%	6.6%	57.9%	-67.0%	186.7%	1.4%	-6.6%	1816.7%	-306.7%	16.8%
Operating Income Growth	23.9%	126.3%	-37.4%	6.6%	23.1%	-62.4%	186.7%	1.9%	-5.0%	2120.0%	-311.1%	24.4%
Net Income Growth	27.1%	3.9%	-26.0%	0.4%	15.7%	-41.7%	232.1%	-68.7%	-14.6%	125.6%	-209.4%	260.3%
Margins Quarterly
EBITDA Margin	25.9%	3.2%	9.7%	39.7%	25.4%	1.7%	17.3%	40.9%	18.1%	5.4%	-22.4%	44.3%
Operating Income Margin	21.0%	3.2%	9.7%	39.7%	19.8%	1.7%	17.3%	40.9%	18.1%	4.7%	-22.4%	44.0%
Net Income Margin	22.6%	6.0%	12.3%	33.6%	20.7%	6.8%	18.6%	36.7%	20.2%	12.3%	-15.7%	128.8%
Cash & Debt
Total Cash	12,069	12,005	11,014	11,684	11,356	11,492	10,611	11,253	11,251	11,093	10,071	10,962
Total Debt	2,496	2,534	2,067	2,278	2,282	2,280	2,058	2,259	2,274	2,053	2,304	2,309
Net Debt / (Cash)	-9,573	-9,471	-8,947	-9,406	-9,074	-9,212	-8,553	-8,994	-8,977	-9,040	-7,767	-8,653
Cash Flows Quarterly
FCF from Operations	1,270	1,708	526	1,356	975	1,789	466	1,078	1,051	1,923	63	1,325
Cash Flows TTM
FCF from Operations TTM	4,860	4,565	4,646	4,586	4,308	4,384	4,518	4,115	4,362	4,220	3,884	4,284
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	1,051	1,088	1,095	877	1,010	807	838	1,093	749	750	752	500
Return on Invested Capital (ROIC) Quarterly
ROIC	56.5%	4.3%	19.6%	126.1%	50.9%	3.8%	31.2%	144.1%	51.7%	13.1%	-47.3%	214.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	44.9%	44.0%	42.8%	53.5%	52.1%	54.5%	49.7%	38.5%	51.0%	58.6%	39.7%	80.5%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Single Segment	12,241	11,102	9,917	8,399	5,992
Total	12,241	11,102	9,917	8,399	5,992

Operating Income by Segment

$ Mil	2025	2024	2023
Single Segment	2,544	2,553	1,518
Total	2,544	2,553	1,518

Net Income by Segment

$ Mil	2025	2024	2023
Single Segment	2,511	2,648	4,792
Total	2,511	2,648	4,792

Price Behavior

Price Behavior

Market Price	$178.07
Market Cap ($ Bil)	106.5
First Trading Date	12/10/2020
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$142.64	$133.12
DMA Trend	up	up
Distance from DMA	24.8%	33.8%
	3M	1YR
Volatility	46.7%	34.0%
Downside Capture	53.32	99.76
Upside Capture	141.60	121.01
Correlation (SPY)	24.8%	45.4%

ABNB Betas & Captures as of 7/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.64	0.65	0.66	1.19	1.11	1.30
Up Beta	-2.69	0.18	0.67	1.02	1.13	1.37
Down Beta	0.50	0.36	0.32	1.18	1.04	1.35
Up Capture	217%	141%	88%	140%	113%	137%
Bmk +ve Days	11	22	35	67	138	427
Stock +ve Days	10	21	31	64	134	385
Down Capture	121%	49%	69%	115%	112%	107%
Bmk -ve Days	11	21	28	59	114	326
Stock -ve Days	12	22	32	62	118	366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with ABNB
ABNB	36.6%	34.9%	0.94	-
Sector ETF (XLY)	7.9%	19.4%	0.27	50.4%
Equity (SPY)	23.3%	12.8%	1.36	40.2%
Gold (GLD)	28.5%	28.4%	0.87	6.8%
Commodities (DBC)	32.9%	19.8%	1.32	-23.7%
Real Estate (VNQ)	14.2%	13.8%	0.72	25.1%
Bitcoin (BTCUSD)	-43.7%	43.0%	-1.21	18.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with ABNB
ABNB	4.1%	44.5%	0.23	-
Sector ETF (XLY)	6.7%	24.0%	0.24	64.0%
Equity (SPY)	13.5%	17.2%	0.61	59.0%
Gold (GLD)	18.6%	18.6%	0.81	4.7%
Commodities (DBC)	8.2%	19.6%	0.31	9.7%
Real Estate (VNQ)	2.3%	18.9%	0.02	40.1%
Bitcoin (BTCUSD)	9.0%	53.0%	0.36	27.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with ABNB
ABNB	2.0%	46.3%	0.23	-
Sector ETF (XLY)	12.5%	22.2%	0.52	58.5%
Equity (SPY)	15.4%	17.9%	0.73	53.2%
Gold (GLD)	12.1%	16.2%	0.61	3.7%
Commodities (DBC)	7.4%	18.0%	0.33	10.9%
Real Estate (VNQ)	4.8%	20.7%	0.20	35.4%
Bitcoin (BTCUSD)	58.4%	66.2%	0.98	22.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	7152026
Short Interest: Shares Quantity	14.0 Mil
Short Interest: % Change Since 6302026	-6.0%
Average Daily Volume	3.2 Mil
Days-to-Cover Short Interest	4.4 days
Basic Shares Quantity	592.0 Mil
Short % of Basic Shares	2.4%

Returns Analyses

	Title
0	Can Airbnb Stock Hold Up When Markets Turn?
1	ABNB YTD Stock Return Of 16% Outperforms TZOO by 27% and Outperforms MAR by 5.8%
2	Airbnb Stock Return Comparison

Earnings Returns History

Updated 6/9/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/7/2026	0.7%	-4.8%	-4.3%
2/12/2026	4.6%	10.3%	10.7%
11/6/2025	0.3%	0.5%	4.0%
8/6/2025	-8.0%	-4.6%	-5.1%
5/1/2025	1.0%	1.9%	4.5%
2/13/2025	14.4%	3.6%	-10.0%
11/7/2024	-8.7%	-8.7%	-6.9%
8/6/2024	-13.4%	-10.4%	-11.0%
...
SUMMARY STATS
# Positive	12	7	8
# Negative	10	15	14
Median Positive	4.3%	3.6%	8.0%
Median Negative	-7.4%	-5.6%	-7.0%
Max Positive	14.4%	10.3%	13.0%
Max Negative	-13.4%	-19.9%	-16.4%

Collapse to Preview

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/7/2026	0.7%	-4.8%	-4.3%
2/12/2026	4.6%	10.3%	10.7%
11/6/2025	0.3%	0.5%	4.0%
8/6/2025	-8.0%	-4.6%	-5.1%
5/1/2025	1.0%	1.9%	4.5%
2/13/2025	14.4%	3.6%	-10.0%
11/7/2024	-8.7%	-8.7%	-6.9%
8/6/2024	-13.4%	-10.4%	-11.0%
5/8/2024	-6.9%	-7.7%	-7.1%
2/13/2024	-1.7%	-1.0%	10.4%
11/1/2023	-3.3%	-1.5%	13.0%
8/3/2023	-0.5%	-3.5%	-5.8%
5/9/2023	-10.9%	-17.0%	-9.1%
2/14/2023	13.4%	5.2%	-0.7%
11/1/2022	-13.4%	-9.3%	-7.1%
8/2/2022	-1.1%	-1.6%	-2.8%
5/3/2022	7.7%	-19.9%	-16.4%
2/15/2022	3.6%	-16.7%	-12.5%
11/4/2021	13.0%	7.4%	1.3%
8/12/2021	1.1%	-5.6%	6.1%
5/13/2021	4.0%	0.3%	9.9%
2/25/2021	13.3%	-1.0%	-4.2%
SUMMARY STATS
# Positive	12	7	8
# Negative	10	15	14
Median Positive	4.3%	3.6%	8.0%
Median Negative	-7.4%	-5.6%	-7.0%
Max Positive	14.4%	10.3%	13.0%
Max Negative	-13.4%	-19.9%	-16.4%

SEC Filings

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Report Date	Filing Date	Filing
06/30/2026	08/06/2026	10-Q
03/31/2026	05/07/2026	10-Q
12/31/2025	02/12/2026	10-K
09/30/2025	11/06/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/01/2025	10-Q
12/31/2024	02/13/2025	10-K
09/30/2024	11/07/2024	10-Q
06/30/2024	08/06/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/16/2024	10-K
09/30/2023	11/01/2023	10-Q
06/30/2023	08/03/2023	10-Q
03/31/2023	05/09/2023	10-Q
12/31/2022	02/17/2023	10-K
09/30/2022	11/03/2022	10-Q

Collapse to Preview

Report Date	Filing Date	Filing
06/30/2026	08/06/2026	10-Q
03/31/2026	05/07/2026	10-Q
12/31/2025	02/12/2026	10-K
09/30/2025	11/06/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/01/2025	10-Q
12/31/2024	02/13/2025	10-K
09/30/2024	11/07/2024	10-Q
06/30/2024	08/06/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/16/2024	10-K
09/30/2023	11/01/2023	10-Q
06/30/2023	08/03/2023	10-Q
03/31/2023	05/09/2023	10-Q
12/31/2022	02/17/2023	10-K
09/30/2022	11/03/2022	10-Q
06/30/2022	08/03/2022	10-Q
03/31/2022	05/09/2022	10-Q
12/31/2021	02/25/2022	10-K
09/30/2021	11/05/2021	10-Q
06/30/2021	08/13/2021	10-Q
03/31/2021	05/14/2021	10-Q
12/31/2020	02/26/2021	10-K
09/30/2020	12/11/2020	424B4

Recent Forward Guidance

Updated 7/8/2026

Latest: Q1 2026 Earnings Reported 5/7/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	3.54 Bil	3.57 Bil	3.60 Bil
Q2 2026 Revenue Growth	14.0%	15.0%	16.0%
2026 Revenue Growth	12.0%	13.5%	15.0%		3.5%	Raised	Guidance: 10.0% for 2026
2026 Adjusted EBITDA Margin		35.0%			35.0%	Raised	Guidance: 0.0% for 2026

Prior: Q4 2025 Earnings Reported 2/12/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Revenue	2.59 Bil	2.61 Bil	2.63 Bil
Q1 2026 Revenue Growth	14.0%	15.0%	16.0%
Q1 2026 GBV Growth	10.0%	11.5%	13.0%
Q1 2026 Adjusted EBITDA Margin		0.0%
2026 Revenue Growth		10.0%
2026 Adjusted EBITDA Margin		0.0%

Q3 2025 Earnings Reported 11/6/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2025 Revenue	2.66 Bil	2.69 Bil	2.72 Bil	-33.7%		Lower New	Guidance: 4.06 Bil for Q3 2025
Q4 2025 Revenue Growth	7.0%	8.5%	10.0%		-0.5%	Lower New	Guidance: 9.0% for Q3 2025
Q4 2025 GBV Growth	10.0%	11.5%	13.0%
Q4 2025 Nights and Seats Booked Growth	4.0%	5.0%	6.0%
2025 Adjusted EBITDA Margin		35.0%			0.5%	Raised	Guidance: 34.5% for 2025

Insider Activity

Updated 8/5/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Mertz, Elinor	Chief Financial Officer	Direct	Sell	8052026	153.34	3,748	574,718	67,706,123	Form
2	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	8052026	151.80	13,615	2,066,803	1,877,807	Form
3	Gebbia, Joseph		Sycamore Trust	Sell	7292026	151.67	1,828,303	277,302,027	32,609	Form
4	Gebbia, Joseph		Sycamore Trust	Sell	7292026	145.70	265,000	38,609,761	266,409,976	Form
5	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	7222026	145.43	13,615	1,980,075	1,799,010	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Mertz, Elinor	Chief Financial Officer	Direct	Sell	8052026	153.34	3,748	574,718	67,706,123	Form
2	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	8052026	151.80	13,615	2,066,803	1,877,807	Form
3	Gebbia, Joseph		Sycamore Trust	Sell	7292026	151.67	1,828,303	277,302,027	32,609	Form
4	Gebbia, Joseph		Sycamore Trust	Sell	7292026	145.70	265,000	38,609,761	266,409,976	Form
5	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	7222026	145.43	13,615	1,980,075	1,799,010	Form
6	Gebbia, Joseph		Sycamore Trust	Sell	7172026	150.23	49,577	7,447,769	314,501,463	Form
7	Gebbia, Joseph		Sycamore Trust	Sell	7172026	150.15	187,024	28,082,084	321,790,643	Form
8	Gebbia, Joseph		Sycamore Trust	Sell	7152026	145.50	265,000	38,557,367	339,031,146	Form
9	Gebbia, Joseph		Sycamore Trust	Sell	7092026	150.00	2,460	369,000	389,267,850	Form
10	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	7082026	148.37	13,615	2,020,094	12,118,636	Form
11	Gebbia, Joseph		Sycamore Trust	Sell	7072026	150.01	27,733	4,160,341	389,673,476	Form
12	Mertz, Elinor	Chief Financial Officer	Direct	Sell	7072026	148.01	3,750	555,038	65,907,444	Form
13	Chenault, Kenneth I		Direct	Sell	7012026	150.00	8,346	1,251,900	6,131,850	Form
14	Gebbia, Joseph		Sycamore Trust	Sell	7012026	148.43	294,903	43,771,373	389,240,951	Form
15	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	6302026	146.43	31,033	4,544,132	11,362,893	Form
16	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	6262026	145.09	2,113	306,570	1,794,731	Form
17	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	6262026	145.81	88,366	12,884,219	1,803,610	Form
18	Gebbia, Joseph		Sycamore Trust	Sell	6172026	138.51	265,000	36,704,161	404,071,957	Form
19	Chesky, Brian	CEO and Chairman	Direct	Sell	6172026	138.40	30,743	4,254,779	1,481,095,012	Form
20	Chesky, Brian	CEO and Chairman	Direct	Sell	6102026	135.71	4,195	569,289	1,456,461,751	Form
21	Chesky, Brian	CEO and Chairman	Direct	Sell	6102026	135.34	37,704	5,102,837	1,453,088,272	Form
22	Chesky, Brian	CEO and Chairman	Direct	Sell	6082026	135.17	16,515	2,232,258	1,456,317,296	Form
23	Chesky, Brian	CEO and Chairman	Direct	Sell	6082026	136.14	64,333	8,758,076	1,469,028,505	Form
24	Chesky, Brian	CEO and Chairman	Direct	Sell	6042026	134.00	62,764	8,410,584	1,454,629,431	Form
25	Mertz, Elinor	Chief Financial Officer	Direct	Sell	6042026	136.24	7,433	1,012,672	61,177,275	Form
26	Gebbia, Joseph		Sycamore Trust	Sell	6032026	135.45	265,000	35,893,438	431,040,230	Form
27	Chesky, Brian	CEO and Chairman	Direct	Sell	6022026	135.80	184,513	25,057,198	1,482,675,807	Form
28	Chesky, Brian	CEO and Chairman	2016 Legacy Trust B	Sell	6022026	136.62	15,226	2,080,252	799,803	Form
29	Chesky, Brian	CEO and Chairman	Direct	Sell	6022026	134.39	103,937	13,968,432	1,492,094,652	Form
30	Chesky, Brian	CEO and Chairman	2016 Legacy Trust B	Sell	6022026	135.16	4,774	645,259	2,849,196	Form
31	Chesky, Brian	CEO and Chairman	Direct	Sell	5292026	132.22	265,746	35,137,599	1,481,736,688	Form
32	Chesky, Brian	CEO and Chairman	Direct	Sell	5292026	133.15	229,550	30,564,953	1,527,533,302	Form
33	Chesky, Brian	CEO and Chairman	2016 Legacy Trust B	Sell	5292026	133.17	20,000	2,663,417	3,442,999	Form
34	Gebbia, Joseph		Sycamore Trust	Sell	5272026	133.44	2,860	381,638	460,014,476	Form
35	Gebbia, Joseph		Sycamore Trust	Sell	5202026	134.86	54,000	7,282,706	2,023	Form
36	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	5122026	145.67	627	91,336	1,736,398	Form
37	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	5122026	145.70	60,136	8,762,039	1,736,788	Form
38	Mertz, Elinor	Chief Financial Officer	Direct	Sell	5062026	143.00	3,750	536,250	66,268,299	Form
39	Gebbia, Joseph		Sycamore Trust	Sell	5062026	140.37	58,000	8,141,301	7,581,938	Form
40	Gebbia, Joseph		Sycamore Trust	Sell	4222026	142.59	58,000	8,270,238	15,972,254	Form
41	Mertz, Elinor	Chief Financial Officer	Direct	Sell	4102026	130.99	3,750	491,213	51,657,044	Form
42	Gebbia, Joseph		Sycamore Trust	Sell	4082026	126.16	58,000	7,317,456	21,449,608	Form
43	Gebbia, Joseph		Sycamore Trust	Sell	3252026	132.51	58,000	7,685,663	30,214,593	Form
44	Gebbia, Joseph		Sycamore Trust	Sell	3112026	131.27	58,000	7,613,827	37,546,011	Form
45	Mertz, Elinor	Chief Financial Officer	Direct	Sell	3092026	135.73	4,308	584,725	54,035,291	Form
46	Mertz, Elinor	Chief Financial Officer	Direct	Sell	3042026	130.00	3,750	487,500	52,314,169	Form
47	Gebbia, Joseph		Sycamore Trust	Sell	2252026	121.97	58,000	7,074,274	41,959,591	Form
48	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	2242026	125.29	4,260	533,735	6,170,562	Form
49	Gebbia, Joseph		Sycamore Trust	Sell	2112026	121.15	58,000	7,026,717	48,704,234	Form
50	Mertz, Elinor	Chief Financial Officer	Direct	Sell	2042026	130.00	3,750	487,500	53,368,887	Form
51	Gebbia, Joseph		Sycamore Trust	Sell	1282026	133.28	58,000	7,730,261	61,310,963	Form
52	Gebbia, Joseph		Sycamore Trust	Sell	1142026	138.45	58,000	8,030,004	71,718,319	Form
53	Mertz, Elinor	Chief Financial Officer	Direct	Sell	1062026	135.94	3,750	509,775	56,317,210	Form
54	Gebbia, Joseph		Sycamore Trust	Sell	12312025	136.70	58,000	7,928,858	78,743,809	Form
55	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12232025	134.79	2,565	345,745	22,252,562	Form
56	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12192025	135.00	15,263	2,060,505	22,374,393	Form
57	Gebbia, Joseph		Sycamore Trust	Sell	12172025	130.56	58,000	7,572,587	82,778,171	Form
58	Chesky, Brian	CEO and Chairman	2016 Legacy Trust B	Sell	12162025	131.16	51,230	6,719,536	6,014,398	Form
59	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12162025	128.93	650	83,804	21,855,085	Form
60	Chesky, Brian	CEO and Chairman	2016 Legacy Trust B	Sell	12162025	130.17	8,770	1,141,588	12,637,395	Form
61	Mertz, Elinor	Chief Financial Officer	Direct	Sell	12162025	130.00	7,500	975,000	54,343,887	Form
62	Mertz, Elinor	Chief Financial Officer	Direct	Sell	12112025	125.00	4,630	578,750	53,191,238	Form
63	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12112025	125.19	16,875	2,112,627	21,302,945	Form
64	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	12102025	123.24	36,370	4,482,076	1,419,673	Form
65	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	12102025	121.96	141,063	17,203,650	1,404,947	Form
66	Blecharczyk, Nathan	Chief Strategy Officer	Trust	Sell	12092025	123.70	30,311	3,749,439	1,425,012	Form
67	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	12092025	122.70	23,761	2,915,578	6,867,545	Form
68	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12092025	120.92	650	78,598	22,616,423	Form
69	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	12052025	120.52	77,527	9,343,182	6,423,246	Form
70	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	12052025	120.22	39,806	4,785,430	15,727,651	Form
71	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	12042025	120.03	5,162	619,572	20,480,115	Form
72	Gebbia, Joseph		Sycamore Trust	Sell	12032025	118.47	58,000	6,871,275	81,983,195	Form
73	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12022025	116.04	549	63,706	21,779,112	Form
74	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	12022025	116.71	3,307	385,960	20,516,827	Form
75	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	12022025	116.71	600	70,026	21,968,935	Form
76	Gebbia, Joseph		Sycamore Trust	Sell	11262025	114.22	232,000	26,500,188	1,713	Form
77	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	11242025	114.51	600	68,706	21,623,524	Form
78	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	11172025	121.38	600	72,828	23,645,549	Form
79	Gebbia, Joseph		Sycamore Trust	Sell	11132025	120.66	236,000	28,474,625	27,993,814	Form
80	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	11102025	122.38	600	73,428	23,913,783	Form
81	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	11032025	125.47	600	75,282	24,592,869	Form
82	Mertz, Elinor	Chief Financial Officer	Direct	Sell	10302025	130.00	7,500	975,000	56,754,113	Form
83	Gebbia, Joseph		Sycamore Trust	Sell	10292025	128.47	236,000	30,318,561	60,125,176	Form
84	Mertz, Elinor	Chief Financial Officer	Direct	Sell	10282025	127.65	12,184	1,555,288	56,685,549	Form
85	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	10272025	127.53	600	76,518	25,073,160	Form
86	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	10202025	124.26	600	74,556	24,504,814	Form
87	Gebbia, Joseph		Sycamore Trust	Sell	10152025	119.22	236,000	28,137,090	83,936,158	Form
88	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	10142025	120.46	600	72,276	23,827,708	Form
89	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	10062025	122.47	600	73,482	24,298,780	Form
90	Gebbia, Joseph		Sycamore Trust	Sell	10012025	123.57	236,000	29,162,764	116,158,626	Form
91	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	9292025	122.91	600	73,746	24,459,824	Form
92	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	9222025	123.74	600	74,244	24,699,243	Form
93	Gebbia, Joseph		Sycamore Trust	Sell	9172025	120.76	236,000	28,499,875	142,018,140	Form
94	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	9152025	123.68	600	74,208	24,761,475	Form
95	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	9082025	124.65	600	74,790	25,030,465	Form
96	Mertz, Elinor	Chief Financial Officer	Direct	Sell	9042025	128.42	4,630	594,585	57,027,482	Form
97	Gebbia, Joseph		Sycamore Trust	Sell	9042025	127.53	236,000	30,096,394	180,070,170	Form
98	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	9022025	130.19	600	78,114	26,221,044	Form
99	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	8252025	124.96	600	74,976	25,242,666	Form
100	Blecharczyk, Nathan	Chief Strategy Officer	Direct	Sell	8212025	125.20	2,246	281,199	22,850,710	Form
101	Gebbia, Joseph		Sycamore Trust	Sell	8202025	125.36	236,000	29,586,130	1,880	Form
102	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	8182025	123.62	600	74,172	25,710,134	Form
103	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	8112025	120.50	600	72,300	25,133,545	Form
104	Gebbia, Joseph		Sycamore Trust	Sell	8062025	129.71	236,000	30,611,498	30,613,444	Form
105	Mertz, Elinor	Chief Financial Officer	Direct	Sell	8062025	129.10	6,250	806,875	58,754,868	Form
106	Balogh, Aristotle N	Chief Technology Officer	Direct	Sell	8042025	134.75	600	80,850	28,186,620	Form

Investor Activity (13F)

Updated Aug 9, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Consulta Ltd	$227.3 Mil	11.3%	13	ADD +20.0%	13F
GCQ FUNDS MANAGEMENT PTY Ltd	$59.4 Mil	7.9%	11	TRIM -15.0%	13F
Long Walk Management LP	$20.5 Mil	6.0%	11	New	13F
Shannon River Fund Management LLC	$31.2 Mil	6.0%	28	New	13F
Two Creeks Capital Management, LP	$45.0 Mil	4.8%	21	Hold	13F
Independent Franchise Partners LLP	$666.2 Mil	4.7%	26	Hold	13F
Akre Capital Management LLC	$256.9 Mil	4.2%	19	TRIM -41.4%	13F
Par Capital Management Inc	$94.4 Mil	2.7%	45	Hold	13F
HS Management Partners, LLC	$6.9 Mil	2.4%	24	TRIM -43.8%	13F
California First Leasing Corp	$7.4 Mil	2.4%	39	ADD +16.1%	13F
SRS Investment Management, LLC	$224.3 Mil	2.4%	29	TRIM -29.5%	13F
Atmos Capital Gestao de Recursos Ltda.	$12.7 Mil	2.2%	15	ADD +7.3%	13F
Ask Capital Management, LLC	$7.6 Mil	1.4%	3	Hold	13F
SC US (TTGP), LTD.	$64.5 Mil	0.7%	36	Hold	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Shannon River Fund Management LLC	$31.2 Mil	6.0%	28	New	13F
Long Walk Management LP	$20.5 Mil	6.0%	11	New	13F
Consulta Ltd	$227.3 Mil	11.3%	13	ADD +20.0%	13F
California First Leasing Corp	$7.4 Mil	2.4%	39	ADD +16.1%	13F
Atmos Capital Gestao de Recursos Ltda.	$12.7 Mil	2.2%	15	ADD +7.3%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	As Of	Filing
Archon Partners LLC	$9.0 Mil	0.9%	42	Exited	Dec 31, 2025	13F
HS Management Partners, LLC	$6.9 Mil	2.4%	24	TRIM -43.8%	Mar 31, 2026	13F
Akre Capital Management LLC	$256.9 Mil	4.2%	19	TRIM -41.4%	Mar 31, 2026	13F
SRS Investment Management, LLC	$224.3 Mil	2.4%	29	TRIM -29.5%	Mar 31, 2026	13F
GCQ FUNDS MANAGEMENT PTY Ltd	$59.4 Mil	7.9%	11	TRIM -15.0%	Mar 31, 2026	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Independent Franchise Partners LLP	$666.2 Mil	4.7%	26	Hold	13F
Akre Capital Management LLC	$256.9 Mil	4.2%	19	TRIM -41.4%	13F
Consulta Ltd	$227.3 Mil	11.3%	13	ADD +20.0%	13F
SRS Investment Management, LLC	$224.3 Mil	2.4%	29	TRIM -29.5%	13F
Par Capital Management Inc	$94.4 Mil	2.7%	45	Hold	13F
SC US (TTGP), LTD.	$64.5 Mil	0.7%	36	Hold	13F
GCQ FUNDS MANAGEMENT PTY Ltd	$59.4 Mil	7.9%	11	TRIM -15.0%	13F
Two Creeks Capital Management, LP	$45.0 Mil	4.8%	21	Hold	13F
Shannon River Fund Management LLC	$31.2 Mil	6.0%	28	New	13F
Long Walk Management LP	$20.5 Mil	6.0%	11	New	13F
Atmos Capital Gestao de Recursos Ltda.	$12.7 Mil	2.2%	15	ADD +7.3%	13F
Ask Capital Management, LLC	$7.6 Mil	1.4%	3	Hold	13F
California First Leasing Corp	$7.4 Mil	2.4%	39	ADD +16.1%	13F
HS Management Partners, LLC	$6.9 Mil	2.4%	24	TRIM -43.8%	13F

ABNB Trade Sentinel

Stock Conviction

High Conviction

CONVICTION RATIONALE

Conviction is high, as growth is re-accelerating across key metrics including a four-year high in first-time bookers. The company is successfully expanding its platform with new offerings, supported by a strong record of raising its own financial outlook. The primary structural risk from regulation, while significant, is a known factor and is being managed through diversification.

STOCK ARCHETYPE

Marketplace Platform

(Nights & Seats Booked) x (Average Daily Rate) x (Take Rate) Operating leverage from scaling the platform's transaction volume over a largely fixed cost base, and technology-driven efficiencies, particularly from AI in areas like customer support.

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

Can the travel ecosystem expansion drive a new growth S-curve?

Evidence suggests yes. The strategy is attracting new users at the fastest rate in four years and layering on faster-growing revenue streams like hotels.

Mechanism: New verticals like hotels, growing 3x faster than homes, attract new users. Roughly 35% of first-time hotel guests return to book a home, creating a flywheel that expands the total addressable market and accelerates overall growth.

Supporting Evidence:

First-time booker growth accelerated to 11%, the highest rate reported in four years.
Hotel nights are growing approximately three times faster than the core homes business.
Full-year 2026 revenue growth guidance was raised to 'at least mid-teens'.
Full-year 2026 adjusted EBITDA margin guidance was raised to 'at least 35.5%'.
Nights and seats booked growth accelerated to 10% year-over-year in Q2 2026.

PRIMARY RISK

Regulatory Overhang

A patchwork of evolving local laws can materially constrain supply. New York City's 2023 regulations created a 'de facto ban' on short-term rentals, providing a clear precedent for how quickly a key market can be impaired.

Mechanism: Proliferation of similar restrictive laws in other major global cities.

Supporting Evidence:

New York City regulations in 2023 resulted in a 'de facto ban'.
The company is subject to a wide variety of complex and evolving laws.
The EU Short-Term Rental Regulation entered into force in May 2026.
An unresolved IRS dispute claims the company owes $1.3 billion in back taxes.

Key KPI Watchlist

KPI	Status	Rationale
Nights and Seats Booked	10% year-over-year growth in Q2 2026 - Accelerating	Management highlighted that the sequential acceleration in volume growth was driven by an 11% increase in first-time bookers, which it noted was the highest growth rate for that cohort in four years.
Gross Booking Value (GBV)	16% year-over-year growth to $27.2 billion in Q2 2026 - Decelerating	The deceleration in gross booking value growth from Q1's peak occurred even as the underlying volume metric, Nights and Seats Booked, accelerated sequentially.
First-time booker growth	11% growth (Q2 2026)	Indicates the platform's ability to attract new users, which is crucial for long-term growth. Management noted this is the highest growth rate seen in four years.

Core Investment Debate

AI Efficiency vs. Competitive Spend

BULL VIEW

AI is a structural advantage, driving efficiencies like the 16% drop in support costs per booking. This funds growth investments while allowing for margin expansion, as reflected in the raised full-year outlook.

CORE TENSION

Can AI-driven cost savings offset the investment needed to build a multi-product travel platform?

PREVAILING SENTIMENT

BULLISH

The bull view is favored. Management raised its full-year margin guidance to at least 35.5%, a direct signal of confidence in its profitability.

BEAR VIEW

The cost to compete with Booking and Expedia in new verticals will overwhelm any AI savings. Trailing opex growth of 16.2% outpaced revenue growth of 13.6%, signaling a costly arms race.

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch
10/20/2026	Peer Read-Through on Lodging Demand Watch: Hilton's commentary on booking trends, ADR, and forward guidance for the hotel sector.
11/2/2026	Marriott Earnings Report Watch: Peer Marriott International (MAR) is scheduled to report earnings.
11/4/2026	Guidance Disappointment at Q3 Earnings Watch: Q4 revenue and bookings guidance, commentary on deceleration, and impact of tougher comparisons.
No set date	Geopolitical or Macro Shock Watch: Changes in booking or cancellation trends, particularly in EMEA and Asia Pacific, or management commentary on macro softness.

Key Events in Last 6 Months

Date	Event	Stock Impact
2026-08-06	Strong Q2 Results and Guidance Raise Details: The company reported Q2 revenue growth of 17% and raised its full-year 2026 revenue growth forecast to at least a mid-teens rate.	-0.6% $152.49 -> $151.64
2026-08-06	Expanded into Ancillary Services Details: The company expanded its platform to include new services such as grocery delivery, car rental, airport pickup, and luggage storage.	-0.6% $152.49 -> $151.64
2026-08-06	Debt Refinancing and Repayment Details: The company issued $2.5 billion in new senior notes and used approximately $2.0 billion of the proceeds to repay its 0% convertible senior notes due in 2026.	-0.6% $152.49 -> $151.64
2026-05-07	Raised Full-Year 2026 Guidance Details: Following first quarter results, the company raised its guidance for 2026 revenue growth and adjusted EBITDA margin.	+1.2% $139.88 -> $141.49
2026-02-12	Positive Q4 2025 Earnings Reaction Details: The stock had a positive two-day reaction of 2.0% around the earnings call for the fourth quarter of 2025.	+1.5% $119.55 -> $121.35

Risk Management

Position Sizing

4% - 6%

NORMAL POSITION

Sizing is volatility-based: ABNB trades at roughly 36% annualized options-implied volatility versus about 13% for the S&P 500 (2.7x the market), around the 71st percentile of its own trailing year. A 4% - 6% position keeps a single-name swing of that size within a diversified portfolio's risk budget.

Diversification Alternatives

BKNG - Booking Holdings

Scale & Profitability

Booking offers greater scale with revenue 2.1 times that of Airbnb and superior operating margins of 34.5%. It has a more established multi-product offering across flights, hotels, and car rentals.

Core Thesis: A play on the dominant, most profitable online travel agency executing its own 'Connected Trip' vision.

EXPE - Expedia Group

B & Loyalty Focus

Expedia has a significant B segment and is pursuing a partnership-driven strategy, recently becoming the exclusive hotel partner for Uber. This provides a different growth vector than Airbnb's direct-to-consumer focus.

Core Thesis: A bet on a travel platform leveraging B partnerships and loyalty programs to drive growth.

How Is The Market Pricing ABNB?

Airbnb is an AI-native travel ecosystem expanding beyond its core homes business to become a one-stop shop for travel.

Airbnb is leveraging AI to accelerate product innovation, improve user conversion, and drive operational efficiency. This has enabled a strategic expansion from its core home-sharing marketplace into adjacent travel categories like hotels, car rentals, and other services. The company aims to capture a larger share of the entire trip by creating an integrated ecosystem where new offerings like hotels not only generate revenue but also onboard new customers who then cross-book into the core homes business.

What will confirm the thesis

Sustained acceleration in 'Nights and Seats Booked' growth, successful scaling of the hotels and services categories, and evidence of AI-driven margin expansion or conversion rate improvements.

What will damage the thesis

Increased regulatory restrictions in key markets similar to New York City's de facto ban, failure of new verticals like hotels to gain traction or prove accretive, or a significant slowdown in first-time booker growth.

Noise: Real but irrelevant to thesis

Short-term stock price reactions to earnings reports or seasonal fluctuations in quarterly performance.

Repricing Catalyst

The company's raised full-year guidance for revenue and profitability, driven by accelerating growth and faster-than-expected innovation velocity enabled by AI.

What ABNB Makes & Who Pays

TTM figures based on the twelve months through fiscal Q1 2026

Single Segment

$12.6B TTM (100% of Total) · 20% Margin

What It Is

The company operates a global marketplace connecting guests with stays, experiences, and services offered by hosts. This includes unique homes, boutique hotels, and activities. Recent expansions include car rentals, grocery delivery, and airport pickups.

Who Pays & How

Guests pay for bookings on the platform. They choose Airbnb for its unique inventory, the value of its offerings, brand trust, and an easy-to-use platform for finding and booking accommodations and activities worldwide.

The company charges service fees to both hosts and guests on transactions processed through its platform. It is migrating hosts to a single service fee structure to improve price transparency and competitiveness.

Competition

Online travel agencies (OTAs) like Booking Holdings and Expedia Group, hotel chains such as Marriott and Hilton, and internet search engines like Google.

Competitors may have greater brand recognition, larger marketing budgets, and more resources. Hotel chains offer a different, more standardized accommodation experience.

The company's moat is built on its global network of over 5 million hosts, a strong brand that has become a noun and a verb for the category, unique inventory, and a system of trust built on reviews and host/guest protections like AirCover.

ABNB Evolution: Price Return by Era

Founded in 2007 · Founding and Core Growth

The company was founded when two hosts welcomed three guests to their San Francisco home. It grew into a global marketplace focused on connecting guests with unique stays in hosts' homes, establishing a new category in travel.

2025-2026 · Ecosystem Expansion

+15%

The company began a strategic expansion beyond its core homes business. In May 2025, it launched redesigned experiences and new services. This was followed by a significant push into the hotel market, aiming to become a comprehensive travel platform.

2026 · AI-Native Transformation

+14%

Management describes a fundamental shift to becoming an 'AI-native company,' using artificial intelligence to dramatically accelerate product development, improve personalization and search, and drive efficiencies in areas like customer support. The CEO stated in August 2026 that 'AI is the best thing to ever happen to Airbnb'.

Market Appears To Be Cautiously Supportive

Price structure is strongly bullish. The regime, trend, and proximity to highs all point towards intact institutional trend. Relative to SPY: Decisively outperforming and improving. Potential evidence of active institutional rotation. Volume and momentum show mild positive lean. The accumulation signals present but not yet dominant. Earnings history is clearly negative. The market punished the print and the drift confirms distribution. Thesis is under pressure. NOTE: Structure and earnings history are contradicting each other. The price trend says one thing, and the market reaction to catalysts says another. Treat this with caution and weigh the most recent earnings event heavily.

① Structure

Structural pillar score (-4 to +4). Driven by trend regime, SMA cross events, proximity to 52W high, and relative strength vs SPY.

② Volume / Momentum

Volume/Momentum pillar score (-4 to +4). Driven by institutional footprint score, OBV divergence, and momentum character.

③ Catalyst

-2

Catalyst pillar score (-4 to +4). Driven by earnings day reaction, 20D post-earnings drift, and post-earnings volume character.

Combined Score

3 / 12

1 Price Structure & Trend Trending Up · Golden Cross ▾

2 Momentum Accelerating ▾

3 Relative Strength vs. SPY Strong Outperformance ▾

4 Institutional Footprint & Volume Strong Accumulation ▾

5 Volatility Expanded ▾

6 Key Price Levels Range · Vol Rising ▾

7 Earnings Reaction History Diminishing Reward ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	+4
② Vol / Mom	+1
③ Catalyst	-2

ℹ Bull Pillars: 2 · Bear Pillars: 1 · Combined Score: 3 → Market Appears To Be Cautiously Supportive

Airbnb — Investor Video Playlist

Products & Services

The Airbnb 2026 Summer Release

Airbnb · 2026-05-21

Investor / Analyst

AirBnB Inc. Q4 FY25 Earnings Call | $ABNB | 🔴WATCH LIVE

Benzinga · 2026-02-13

Products & Services

The 2025 Summer Release

Airbnb · 2025-09-19

Products & Services

Stay Grounded | Introducing Airbnb Services

Airbnb · 2025-08-14

Products & Services

Introducing Hosting Tools for Airbnb Services

Airbnb · 2025-05-13

Products & Services

The Airbnb 2024 Summer Release

Airbnb · 2024-05-03

Investor / Analyst

WATCH LIVE: AirBNB Q3 Earnings Call $ABNB

Benzinga · 2023-11-02

Industry Resources

Consumer Discretionary Resources

Retail Dive

Business of Fashion (BoF)

WWD (Women's Wear Daily)

National Retail Federation (NRF)

McKinsey & Company - Consumer

Mintel Consumer Trends

Hotels, Resorts & Cruise Lines Resources

Skift

Hotel News Now

Cruise Industry News

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 8/9/2026

Airbnb (ABNB)

Market Price (8/9/2026): $178.05 | Market Cap: $105.4 BilInvestor Relations ↗Sector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Airbnb (ABNB)

Market Price (8/9/2026): $178.05Market Cap: $105.4 BilSector: Consumer DiscretionaryIndustry: Hotels, Resorts & Cruise Lines

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

ABNB in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Airbnb (ABNB)

Major Products and Services of Airbnb (ABNB)

Stays (Accommodation Market)

Experiences Market

Interactive Breakdown

Better Bets vs. Airbnb (ABNB)

INDUSTRY: Hotels, Resorts & Cruise Lines

Higher Rev Chg 3Y Avg | Lower P/S (Values for ABNB: 13.2% | 8.0x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ABNB: 13.2% | 38.5x)

Higher Rev Chg LTM (Value for ABNB: 13.6%)

Higher Rev Chg 3Y Avg (Value for ABNB: 13.2%)

Higher Op Mgn LTM (Value for ABNB: 20.8%)

Higher CFO/Rev LTM (Value for ABNB: 36.9%)

Higher Total Yield (Value for ABNB: 2.6%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for ABNB: 13.2% | 8.0x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ABNB: 13.2% | 38.5x)

Higher Rev Chg LTM (Value for ABNB: 13.6%)

Higher Rev Chg 3Y Avg (Value for ABNB: 13.2%)

Higher Op Mgn LTM (Value for ABNB: 20.8%)

Higher CFO/Rev LTM (Value for ABNB: 36.9%)

Higher FCF/Rev LTM (Value for ABNB: 36.9%)

Higher Total Yield (Value for ABNB: 2.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ABNB: 13.2% | 8.0x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ABNB: 13.2% | 38.5x)

Higher Rev Chg LTM (Value for ABNB: 13.6%)

Higher Rev Chg 3Y Avg (Value for ABNB: 13.2%)

Higher Op Mgn LTM (Value for ABNB: 20.8%)

Higher CFO/Rev LTM (Value for ABNB: 36.9%)

Higher FCF/Rev LTM (Value for ABNB: 36.9%)

Higher Total Yield (Value for ABNB: 2.6%)

Best Bets in Consumer Discretionary

P/EBIT (Value for ABNB: 36.2x)

P/E (Value for ABNB: 39.2x)

Rev Chg 3Y Avg (Value for ABNB: 13.2%)

Rev Chg LTM (Value for ABNB: 13.6%)

Rev Chg Q (Value for ABNB: 16.5%)

FCF/Rev 3Y Avg (Value for ABNB: 38.5%)

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Market Price (8/9/2026): $178.05 | Market Cap: $105.4 BilInvestor Relations Sector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Market Price (8/9/2026): $178.05
Market Cap: $105.4 Bil
Sector: Consumer Discretionary
Industry: Hotels, Resorts & Cruise Lines