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Side-by-side financial comparison of Adtalem Global Education Inc. (ATGE) 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 $503.4M, roughly 1.6× Adtalem Global Education Inc.). Adtalem Global Education Inc. runs the higher net margin — 15.2% vs 10.5%, a 4.7% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 12.4%). Adtalem Global Education Inc. produced more free cash flow last quarter ($15.1M vs $13.0M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 10.4%).
Adtalem Global Education Inc. is a US corporation based in Chicago, Illinois, that operates for-profit higher education institutions, including American University of the Caribbean School of Medicine, Chamberlain University, Ross University School of Medicine, Ross University School of Veterinary Medicine, and Walden University.
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, ...
ATGE vs GBTG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $503.4M | $792.0M |
| Net Profit | $76.4M | $83.0M |
| Gross Margin | 59.2% | — |
| Operating Margin | 22.1% | 3.7% |
| Net Margin | 15.2% | 10.5% |
| Revenue YoY | 12.4% | 34.0% |
| Net Profit YoY | 0.7% | 692.9% |
| EPS (diluted) | $2.11 | $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 | $503.4M | $792.0M | ||
| Q3 25 | $462.3M | $674.0M | ||
| Q2 25 | $457.1M | $631.0M | ||
| Q1 25 | $466.1M | $621.0M | ||
| Q4 24 | $447.7M | $591.0M | ||
| Q3 24 | $417.4M | $597.0M | ||
| Q2 24 | $409.9M | $625.0M | ||
| Q1 24 | $412.7M | $610.0M |
| Q4 25 | $76.4M | $83.0M | ||
| Q3 25 | $61.8M | $-62.0M | ||
| Q2 25 | $54.2M | $15.0M | ||
| Q1 25 | $60.8M | $75.0M | ||
| Q4 24 | $75.9M | $-14.0M | ||
| Q3 24 | $46.2M | $-128.0M | ||
| Q2 24 | $49.4M | $27.0M | ||
| Q1 24 | $36.8M | $-19.0M |
| Q4 25 | 59.2% | — | ||
| Q3 25 | 56.6% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 57.1% | — | ||
| Q4 24 | 58.3% | — | ||
| Q3 24 | 55.4% | — | ||
| Q2 24 | 55.5% | — | ||
| Q1 24 | 57.5% | — |
| Q4 25 | 22.1% | 3.7% | ||
| Q3 25 | 18.5% | 1.8% | ||
| Q2 25 | 16.8% | 5.4% | ||
| Q1 25 | 19.4% | 8.9% | ||
| Q4 24 | 23.2% | 5.1% | ||
| Q3 24 | 16.8% | 4.5% | ||
| Q2 24 | 16.7% | 6.7% | ||
| Q1 24 | 15.0% | 2.6% |
| Q4 25 | 15.2% | 10.5% | ||
| Q3 25 | 13.4% | -9.2% | ||
| Q2 25 | 11.9% | 2.4% | ||
| Q1 25 | 13.1% | 12.1% | ||
| Q4 24 | 16.9% | -2.4% | ||
| Q3 24 | 11.1% | -21.4% | ||
| Q2 24 | 12.1% | 4.3% | ||
| Q1 24 | 8.9% | -3.1% |
| Q4 25 | $2.11 | $0.16 | ||
| Q3 25 | $1.67 | $-0.13 | ||
| Q2 25 | $1.43 | $0.03 | ||
| Q1 25 | $1.59 | $0.16 | ||
| Q4 24 | $1.98 | $-0.04 | ||
| Q3 24 | $1.18 | $-0.28 | ||
| Q2 24 | $1.23 | $0.06 | ||
| Q1 24 | $0.93 | $-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 | $56.3M | $434.0M |
| Total DebtLower is stronger | $504.3M | $1.4B |
| Stockholders' EquityBook value | $1.4B | $1.6B |
| Total Assets | $2.6B | $4.9B |
| Debt / EquityLower = less leverage | 0.37× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $56.3M | $434.0M | ||
| Q3 25 | $264.7M | $427.0M | ||
| Q2 25 | $199.6M | $601.0M | ||
| Q1 25 | $219.0M | $552.0M | ||
| Q4 24 | $194.0M | $536.0M | ||
| Q3 24 | $264.8M | $524.0M | ||
| Q2 24 | $219.3M | $515.0M | ||
| Q1 24 | $179.8M | $475.0M |
| Q4 25 | $504.3M | $1.4B | ||
| Q3 25 | $553.2M | $1.4B | ||
| Q2 25 | $552.7M | $1.4B | ||
| Q1 25 | $552.2M | $1.4B | ||
| Q4 24 | $649.9M | $1.4B | ||
| Q3 24 | $649.3M | $1.4B | ||
| Q2 24 | $648.7M | — | ||
| Q1 24 | $648.1M | — |
| Q4 25 | $1.4B | $1.6B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.3B | $1.2B |
| Q4 25 | $2.6B | $4.9B | ||
| Q3 25 | $2.9B | $4.8B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.8B | $3.8B | ||
| Q4 24 | $2.7B | $3.6B | ||
| Q3 24 | $2.8B | $3.8B | ||
| Q2 24 | $2.7B | $3.8B | ||
| Q1 24 | $2.7B | $3.8B |
| Q4 25 | 0.37× | 0.88× | ||
| Q3 25 | 0.38× | 0.91× | ||
| Q2 25 | 0.39× | 1.15× | ||
| Q1 25 | 0.39× | 1.23× | ||
| Q4 24 | 0.45× | 1.32× | ||
| Q3 24 | 0.47× | 1.26× | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.49× | — |
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 | $29.7M | $52.0M |
| Free Cash FlowOCF − Capex | $15.1M | $13.0M |
| FCF MarginFCF / Revenue | 3.0% | 1.6% |
| Capex IntensityCapex / Revenue | 2.9% | 4.9% |
| Cash ConversionOCF / Net Profit | 0.39× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $368.0M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.7M | $52.0M | ||
| Q3 25 | $130.5M | $71.0M | ||
| Q2 25 | $59.7M | $57.0M | ||
| Q1 25 | $207.9M | $53.0M | ||
| Q4 24 | $-19.0M | $65.0M | ||
| Q3 24 | $89.3M | $85.0M | ||
| Q2 24 | $40.6M | $73.0M | ||
| Q1 24 | $162.6M | $49.0M |
| Q4 25 | $15.1M | $13.0M | ||
| Q3 25 | $114.5M | $38.0M | ||
| Q2 25 | $40.7M | $27.0M | ||
| Q1 25 | $197.7M | $26.0M | ||
| Q4 24 | $-29.7M | $33.0M | ||
| Q3 24 | $78.9M | $59.0M | ||
| Q2 24 | $37.4M | $49.0M | ||
| Q1 24 | $140.9M | $24.0M |
| Q4 25 | 3.0% | 1.6% | ||
| Q3 25 | 24.8% | 5.6% | ||
| Q2 25 | 8.9% | 4.3% | ||
| Q1 25 | 42.4% | 4.2% | ||
| Q4 24 | -6.6% | 5.6% | ||
| Q3 24 | 18.9% | 9.9% | ||
| Q2 24 | 9.1% | 7.8% | ||
| Q1 24 | 34.2% | 3.9% |
| Q4 25 | 2.9% | 4.9% | ||
| Q3 25 | 3.5% | 4.9% | ||
| Q2 25 | 4.2% | 4.8% | ||
| Q1 25 | 2.2% | 4.3% | ||
| Q4 24 | 2.4% | 5.4% | ||
| Q3 24 | 2.5% | 4.4% | ||
| Q2 24 | 0.8% | 3.8% | ||
| Q1 24 | 5.3% | 4.1% |
| Q4 25 | 0.39× | 0.63× | ||
| Q3 25 | 2.11× | — | ||
| Q2 25 | 1.10× | 3.80× | ||
| Q1 25 | 3.42× | 0.71× | ||
| Q4 24 | -0.25× | — | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 0.82× | 2.70× | ||
| Q1 24 | 4.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATGE
| Walden University Segment | $217.6M | 43% |
| Chamberlain University Segment | $183.8M | 37% |
| Medical And Veterinary | $102.0M | 20% |
| Other Services | $1.6M | 0% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
