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Side-by-side financial comparison of Atour Lifestyle Holdings Ltd (ATAT) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Global Business Travel Group, Inc. is the larger business by last-quarter revenue ($792.0M vs $789.6M, roughly 1.0× Atour Lifestyle Holdings Ltd). Atour Lifestyle Holdings Ltd runs the higher net margin — 17.6% vs 10.5%, a 7.1% gap on every dollar of revenue. On growth, Atour Lifestyle Holdings Ltd posted the faster year-over-year revenue change (252.5% vs 34.0%). Atour Lifestyle Holdings Ltd produced more free cash flow last quarter ($210.7M vs $13.0M).
Atour Lifestyle Holdings Ltd is a leading China-based hospitality and lifestyle enterprise. It operates a wide portfolio of mid-to-premium hotel brands for business and leisure travelers, and offers complementary lifestyle retail products and experience services, catering primarily to middle-class consumers across domestic and selected overseas markets.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
ATAT vs GBTG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $789.6M | $792.0M |
| Net Profit | $139.1M | $83.0M |
| Gross Margin | — | — |
| Operating Margin | 22.5% | 3.7% |
| Net Margin | 17.6% | 10.5% |
| Revenue YoY | 252.5% | 34.0% |
| Net Profit YoY | 322.2% | 692.9% |
| EPS (diluted) | $0.33 | $0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $792.0M | ||
| Q3 25 | $789.6M | $674.0M | ||
| Q2 25 | — | $631.0M | ||
| Q1 25 | — | $621.0M | ||
| Q4 24 | — | $591.0M | ||
| Q3 24 | $224.0M | $597.0M | ||
| Q2 24 | — | $625.0M | ||
| Q1 24 | $203.4M | $610.0M |
| Q4 25 | — | $83.0M | ||
| Q3 25 | $139.1M | $-62.0M | ||
| Q2 25 | — | $15.0M | ||
| Q1 25 | — | $75.0M | ||
| Q4 24 | — | $-14.0M | ||
| Q3 24 | $33.0M | $-128.0M | ||
| Q2 24 | — | $27.0M | ||
| Q1 24 | $35.6M | $-19.0M |
| Q4 25 | — | 3.7% | ||
| Q3 25 | 22.5% | 1.8% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | 14.7% | 4.5% | ||
| Q2 24 | — | 6.7% | ||
| Q1 24 | 22.1% | 2.6% |
| Q4 25 | — | 10.5% | ||
| Q3 25 | 17.6% | -9.2% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 12.1% | ||
| Q4 24 | — | -2.4% | ||
| Q3 24 | 14.7% | -21.4% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | 17.5% | -3.1% |
| Q4 25 | — | $0.16 | ||
| Q3 25 | $0.33 | $-0.13 | ||
| Q2 25 | — | $0.03 | ||
| Q1 25 | — | $0.16 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | $0.08 | $-0.28 | ||
| Q2 24 | — | $0.06 | ||
| Q1 24 | $0.09 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $669.2M | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $405.0M | $1.6B |
| Total Assets | $1.1B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $434.0M | ||
| Q3 25 | $669.2M | $427.0M | ||
| Q2 25 | — | $601.0M | ||
| Q1 25 | — | $552.0M | ||
| Q4 24 | — | $536.0M | ||
| Q3 24 | $506.0M | $524.0M | ||
| Q2 24 | — | $515.0M | ||
| Q1 24 | $520.7M | $475.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | — | ||
| Q1 24 | $277.0K | — |
| Q4 25 | — | $1.6B | ||
| Q3 25 | $405.0M | $1.5B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $291.3M | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $323.5M | $1.2B |
| Q4 25 | — | $4.9B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $927.8M | $3.8B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | $936.3M | $3.8B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $216.6M | $52.0M |
| Free Cash FlowOCF − Capex | $210.7M | $13.0M |
| FCF MarginFCF / Revenue | 26.7% | 1.6% |
| Capex IntensityCapex / Revenue | 0.8% | 4.9% |
| Cash ConversionOCF / Net Profit | 1.56× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $359.6M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $52.0M | ||
| Q3 25 | $216.6M | $71.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $53.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | $84.8M | $85.0M | ||
| Q2 24 | — | $73.0M | ||
| Q1 24 | $19.8M | $49.0M |
| Q4 25 | — | $13.0M | ||
| Q3 25 | $210.7M | $38.0M | ||
| Q2 25 | — | $27.0M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | $83.3M | $59.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | $18.1M | $24.0M |
| Q4 25 | — | 1.6% | ||
| Q3 25 | 26.7% | 5.6% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | 37.2% | 9.9% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | 8.9% | 3.9% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | 0.8% | 4.9% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | 0.7% | 4.4% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | 0.9% | 4.1% |
| Q4 25 | — | 0.63× | ||
| Q3 25 | 1.56× | — | ||
| Q2 25 | — | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.57× | — | ||
| Q2 24 | — | 2.70× | ||
| Q1 24 | 0.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATAT
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
