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Online marketplace connecting travelers with hosts renting homes, rooms and unique stays worldwide.
Online marketplace connecting travelers with hosts renting homes, rooms and unique stays worldwide.
Takes a service fee from the guest and a commission from the host on each booking, and owns none of the properties, so it carries few fixed costs compared with hotel groups. Revenue is recognised at check-in rather than at booking, and the northern summer is the peak season. North America and Europe are its biggest regions.
Moat: narrow (network effects, brand, scale). Two-sided marketplace with a dominant global host/listing base and strong consumer brand recognition.
Headquarters: San Francisco, California, US · Founded: 2008 · Employees: 8,200
Size Airbnb (ABNB) is a United States Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $114B, the 113th largest of 3,117 United States companies the cockpit tracks. Shares closed at $189.99 on 6 Nov 2026.
Performance Over six months the shares gained 34.3%, against +11.9% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 14.2% over the last twelve months (peer median +4.7%); the operating margin is 21.2% (peer median 19.1%).
Valuation It trades at 30.7× forward earnings against a peer median of 18.8× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +30%, so the hurdle is -4 pp: the price already allows for a slowdown.
Credit Airbnb has 3 bonds outstanding ($2.50B), rated A- by the agencies and trading like BBB+ at a weighted spread of 75 bp.
Short interest Short interest is 3.5% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.2B | $12.3B | $11.1B | $9.92B | $8.40B |
| Revenue growth | — | +11% | +12% | +18% | — |
| Gross profit | $9.60B | $8.89B | $7.94B | $7.03B | $5.86B |
| EBITDA | $2.89B | $2.70B | $2.62B | $1.56B | $1.97B |
| Net income | $2.69B | $2.51B | $2.65B | $4.79B | $1.89B |
| Free cash flow | $4.86B | $4.61B | $4.48B | $3.84B | $3.40B |
| Capital expenditure | $2.00M | $33.0M | $34.0M | $47.0M | $25.0M |
| Total debt | $2.50B | $2.27B | $2.29B | $2.30B | $2.34B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Airbnb ABNB | $114B | +34% | +14% | 21% | 30.7× | 26.0% |
| Booking BKNG | $119B | -3% | +8% | 34% | 13.6× | 7.0% |
| Expedia EXPE | $29.6B | +13% | +12% | 17% | 10.6× | -0.3% |
| Marriott International MAR | $107B | +18% | +6% | 16% | 32.1× | 17.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ABNB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.4% | +13.5% | 5th highest of 21 |
| 6-month return | +34.3% | +11.9% | 2nd highest of 21 |
| Distance from 52-week high | -1.8% | -9.1% | 3rd highest of 21 |
| Revenue growth (TTM) | +14.2% | +4.7% | 4th highest of 21 |
| Operating margin | 21.2% | 19.1% | 10th highest of 21 |
| Forward P/E | 30.7× | 18.8× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 26.0% | 13.3% | 3rd most demanding of 18 |
| Growth delivered (Del g) | +29.5% | +20.7% | 6th highest of 18 |
| Hurdle (Req g minus delivered) | -3.5 pp | -7.8 pp | 8th most demanding of 18 |
| EV / EBITDA | 36.0× | 14.4× | 2nd most expensive of 20 |
| Net debt / EBITDA | -3.3× | 3.8× | least indebted of 21 |
| Bond spread | 75 bp | 125 bp | tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Airbnb ABNB | United States | $114B | +34% | +14% | 21% | 30.7× | 26.0% | +29.5% |
| Marriott International MAR | United States | $107B | +18% | +6% | 16% | 32.1× | 17.9% | +19.9% |
| Royal Caribbean RCL | United States | $87.5B | +19% | +10% | 27% | 16.4× | 23.2% | +52.0% |
| Carnival CCL | United States | $39.8B | +13% | +5% | 16% | 12.4× | 14.5% | +36.6% |
| Viking VIK | United States | $39.1B | +6% | +20% | 23% | 24.4× | 19.2% | +27.0% |
| InterContinental Hotels Group PLC Sponsored ADR IHG | United States | $25.3B | +19% | +3% | 24% | 23.8× | 12.7% | +16.6% |
| Hyatt Hotels H | United States | $17.2B | +10% | +3% | 9% | 42.4× | 27.9% | +27.7% |
| H World 1179.HK | Hong Kong | $15.3B | +3% | +13% | 27% | 18.8× | 6.2% | +19.1% |
| Indian Hotels INDHOTEL.NS | India | $13.4B | +33% | +15% | 26% | 55.6× | 42.0% | +43.8% |
| Accor AC.PA | France | $12.8B | +12% | 0% | 16% | 22.9× | 14.4% | +28.3% |
| Hanjinkal 180640.KS | South Korea | $9.60B | +74% | +7% | 1% | 43.3× | n/a | n/a |
| Norwegian Cruise Line NCLH | United States | $8.23B | +5% | +5% | 14% | 13.8× | n/a | n/a |
| Whitbread WTB.L | United Kingdom | $6.37B | +25% | +2% | 21% | 15.8× | 9.7% | +37.7% |
| Seibu 9024.T | Japan | $6.11B | +2% | -41% | 10% | 29.6× | n/a | n/a |
| Vail Resorts MTN | United States | $5.66B | +26% | -4% | 16% | 27.9× | 9.6% | +8.2% |
| Wyndham Hotels & Resorts WH | United States | $5.64B | -6% | +1% | 37% | 15.2× | 1.8% | +1.8% |
| Choice Hotels International CHH | United States | $5.29B | +12% | +2% | 25% | 15.8× | 4.8% | +15.6% |
| Red Rock Resorts RRR | United States | $5.06B | -11% | +1% | 23% | 17.9× | 13.3% | +11.2% |
| Atour Lifestyle Holdings Ltd. Sponsored ADR ATAT | United States | $4.82B | -6% | +45% | 21% | 15.8× | 1.8% | +43.1% |
| Travel + Leisure TNL | United States | $4.54B | +15% | +5% | 17% | 8.8× | 3.2% | +11.2% |
| Monte-Carlo Societe des Bains de Mer BAIN.PA | France | $4.06B | +9% | +12% | 9% | n/a | 24.2% | +20.7% |
Airbnb has 3 bonds outstanding with $2.50B face value. The agencies rate it A-; its bonds trade like BBB+. Weighted yield 5.38%, a spread of 75 bp over government bonds.