Tearsheet

Airbnb (ABNB)


Market Price (9/16/2025): $120.32 | Market Cap: $74.0 Bil
Sector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Airbnb (ABNB)


Market Price (9/16/2025): $120.32
Market Cap: $74.0 Bil
Sector: Consumer Discretionary
Industry: Hotels, Resorts & Cruise Lines

Investment Highlights

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -64%
Expensive valuation multiples
P/SPrice/Sales ratio is 6.4x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 10%
  
2 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%
  
3 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 4.3 Bil, FCF LTM is 4.3 Bil
  
4 Attractive yield
FCF Yield is 5.8%
  
5 Low stock price volatility
Vol 12M is 40%
  
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 10%
2 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%
3 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 4.3 Bil, FCF LTM is 4.3 Bil
4 Attractive yield
FCF Yield is 5.8%
5 Low stock price volatility
Vol 12M is 40%
6 Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -64%
7 Expensive valuation multiples
P/SPrice/Sales ratio is 6.4x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x

Market Valuation

 9/16/252024202320222021
Share Price CYE$120.32$131.41$136.14$85.50$166.49
Market Cap CYE ($ Bil)74.082.387.154.5104.9
Total Debt ($ Bil)2.32.32.32.32.4
Total Cash ($ Bil)11.410.610.19.68.3
Enterprise Value ($ Bil)64.984.689.456.8107.3
Valuation Ratios     
P/S TTM6.47.58.76.517.1
P/EBIT TTM28.432.557.128.8743.2
P/E TTM28.231.418.128.8-291.4
Sector Ratios     
P/S TTM (Sector)0.80.80.90.81.3
P/EBIT TTM (Sector)7.36.97.05.57.4
P/E TTM (Sector)9.68.18.97.39.2
 9/16/2520242023
Share Price CYE$120.32$131.41$136.14
Market Cap CYE ($ Bil)74.082.387.1
Total Debt ($ Bil)2.32.32.3
Total Cash ($ Bil)11.410.610.1
Enterprise Value ($ Bil)64.984.689.4
Valuation Ratios   
P/S TTM6.47.58.7
P/EBIT TTM28.432.557.1
P/E TTM28.231.418.1
Sector Ratios   
P/S TTM (Sector)0.80.80.9
P/EBIT TTM (Sector)7.36.97.0
P/E TTM (Sector)9.68.18.9

Business Description

Airbnb, Inc., together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
ABNB Return-13%-49%59%-3%-8%-17%
Peers Return1%26%-27%45%11%14%69%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: MAR, EXPE, HGV, TRIP, BKNG. See ABNB Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Latest Trefis Analyses

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Airbnb

Financials

ABNBMAREXPEHGVTRIPBKNGMedian
NameAirbnb Marriott.Expedia Hilton G.Tripadvi.Booking  
Mkt Price120.37265.14228.2445.5518.865,559.83174.31
Mkt Cap74.072.728.94.42.4180.750.8
Rev LTM11,58025,69114,0184,9731,87025,02512,799
Op Inc LTM2,6053,9501,7036281438,2202,154
FCF LTM4,3081,6821,9972081719,2401,840
FCF 3Y Avg4,1832,2732,1082731647,7312,190
CFO LTM4,3082,4882,7783472589,5782,633
CFO 3Y Avg4,1982,8412,8903792348,1092,866

Growth & Margins

ABNBMAREXPEHGVTRIPBKNGMedian
NameAirbnb Marriott.Expedia Hilton G.Tripadvi.Booking  
Rev Chg LTM10.2%5.1%5.7%18.4%3.0%11.7%8.0%
Rev Chg 3Y Avg16.3%13.2%9.6%20.8%16.1%19.9%16.2%
Rev Chg Q12.7%4.7%6.4%-0.7%6.4%16.0%6.4%
QoQ Delta Rev Chg LTM3.1%1.2%1.7%-0.2%1.7%3.9%1.7%
Op Mgn LTM22.5%15.4%12.1%12.6%7.6%32.8%14.0%
Op Mgn 3Y Avg19.7%16.4%11.6%16.0%6.9%30.8%16.2%
QoQ Delta Op Mgn LTM0.3%-0.0%0.1%-1.8%1.1%0.4%0.2%
CFO/Rev LTM37.2%9.7%19.8%7.0%13.8%38.3%16.8%
CFO/Rev 3Y Avg40.6%11.7%22.1%8.8%13.2%36.3%17.6%
FCF/Rev LTM37.2%6.5%14.2%4.2%9.1%36.9%11.7%
FCF/Rev 3Y Avg40.5%9.4%16.1%6.4%9.3%34.6%12.8%

Valuation

ABNBMAREXPEHGVTRIPBKNGMedian
NameAirbnb Marriott.Expedia Hilton G.Tripadvi.Booking  
Mkt Cap74.072.728.94.42.4180.750.8
P/S6.42.82.10.91.37.22.4
P/EBIT28.418.417.49.316.323.117.9
P/E28.229.525.9127.936.337.532.9
P/CFO17.229.210.412.59.118.914.9
Total Yield3.5%4.4%4.2%0.8%2.8%3.3%3.4%
Dividend Yield0.0%1.0%0.4%0.0%0.0%0.7%0.2%
FCF Yield 3Y Avg4.9%3.5%11.9%6.0%8.0%5.7%5.8%
D/E0.00.20.21.60.50.10.2
Net D/E-0.10.2-0.01.60.00.00.0

Returns

ABNBMAREXPEHGVTRIPBKNGMedian
NameAirbnb Marriott.Expedia Hilton G.Tripadvi.Booking  
1M Rtn-3.8%-0.0%10.2%2.6%7.0%2.1%2.4%
3M Rtn-12.3%3.1%38.9%15.7%40.9%3.7%9.7%
6M Rtn-5.2%7.4%37.8%23.8%30.5%22.3%23.0%
12M Rtn2.2%15.5%69.2%23.3%39.6%42.4%31.5%
3Y Rtn1.4%76.4%125.4%17.8%-22.7%200.6%47.1%
1M Excs Rtn-5.7%-2.8%8.1%-1.6%2.3%-0.7%-1.2%
3M Excs Rtn-21.9%-6.4%27.4%8.3%31.1%-5.6%1.4%
6M Excs Rtn-19.3%-7.7%24.1%13.1%19.0%7.6%10.4%
12M Excs Rtn-15.3%-1.3%57.8%9.5%22.4%27.2%15.9%
3Y Excs Rtn-63.6%6.3%53.7%-51.0%-88.2%130.8%-22.3%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Single Segment9,9178,3995,9923,3784,805
Total9,9178,3995,9923,3784,805


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity18,742,127
Short Interest: % Change Since 8152025-3.7%
Average Daily Volume3,810,180
Days-to-Cover Short Interest4.92
Basic Shares Quantity615,000,000
Short % of Basic Shares3.0%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2025-8.0%-4.6%-5.1%
5/1/20251.0%1.9%4.5%
2/13/202514.4%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%
...
SUMMARY STATS   
# Positive956
# Negative101413
Median Positive7.7%3.6%8.0%
Median Negative-7.4%-6.6%-7.1%
Max Positive14.4%7.4%13.0%
Max Negative-13.4%-19.9%-16.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025806202510-Q 6/30/2025
3312025501202510-Q 3/31/2025
12312024213202510-K 12/31/2024
93020241107202410-Q 9/30/2024
6302024806202410-Q 6/30/2024
3312024508202410-Q 3/31/2024
12312023216202410-K 12/31/2023
93020231101202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023509202310-Q 3/31/2023
12312022217202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022803202210-Q 6/30/2022
3312022509202210-Q 3/31/2022
12312021225202210-K 12/31/2021
93020211105202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0BALOGH ARISTOTLE NChief Technology Officer8252025Sell124.9660074,97625,242,666Form
1Gebbia Joseph 8202025Sell124.7927,2743,403,39426,047,808Form
2BALOGH ARISTOTLE NChief Technology Officer8182025Sell123.6260074,17225,710,134Form
3BALOGH ARISTOTLE NChief Technology Officer8112025Sell120.5060072,30025,133,545Form
4Gebbia Joseph 8062025Sell128.9415,4081,986,66058,873,491Form