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Side-by-side financial comparison of BREAD FINANCIAL HOLDINGS, INC. (BFH) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
BREAD FINANCIAL HOLDINGS, INC. is the larger business by last-quarter revenue ($975.0M vs $792.0M, roughly 1.2× Global Business Travel Group, Inc.). On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 5.4%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs -0.8%).
Bread Financial Holdings, Inc. is an American publicly traded provider of private label credit cards, coalition loyalty programs, and direct marketing, derived from the capture and analysis of transaction-rich data.
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, ...
BFH vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $975.0M | $792.0M |
| Net Profit | — | $83.0M |
| Gross Margin | — | — |
| Operating Margin | 4.9% | 3.7% |
| Net Margin | — | 10.5% |
| Revenue YoY | 5.4% | 34.0% |
| Net Profit YoY | — | 692.9% |
| EPS (diluted) | $1.21 | $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 | $975.0M | $792.0M | ||
| Q3 25 | $971.0M | $674.0M | ||
| Q2 25 | $929.0M | $631.0M | ||
| Q1 25 | $970.0M | $621.0M | ||
| Q4 24 | $925.0M | $591.0M | ||
| Q3 24 | $983.0M | $597.0M | ||
| Q2 24 | $939.0M | $625.0M | ||
| Q1 24 | $991.0M | $610.0M |
| Q4 25 | — | $83.0M | ||
| Q3 25 | $188.0M | $-62.0M | ||
| Q2 25 | $139.0M | $15.0M | ||
| Q1 25 | $138.0M | $75.0M | ||
| Q4 24 | — | $-14.0M | ||
| Q3 24 | $2.0M | $-128.0M | ||
| Q2 24 | $133.0M | $27.0M | ||
| Q1 24 | $134.0M | $-19.0M |
| Q4 25 | 4.9% | 3.7% | ||
| Q3 25 | 20.2% | 1.8% | ||
| Q2 25 | 18.7% | 5.4% | ||
| Q1 25 | 20.3% | 8.9% | ||
| Q4 24 | -2.9% | 5.1% | ||
| Q3 24 | 4.1% | 4.5% | ||
| Q2 24 | 19.2% | 6.7% | ||
| Q1 24 | 19.0% | 2.6% |
| Q4 25 | — | 10.5% | ||
| Q3 25 | 19.4% | -9.2% | ||
| Q2 25 | 15.0% | 2.4% | ||
| Q1 25 | 14.2% | 12.1% | ||
| Q4 24 | — | -2.4% | ||
| Q3 24 | 0.2% | -21.4% | ||
| Q2 24 | 14.2% | 4.3% | ||
| Q1 24 | 13.5% | -3.1% |
| Q4 25 | $1.21 | $0.16 | ||
| Q3 25 | $3.96 | $-0.13 | ||
| Q2 25 | $2.94 | $0.03 | ||
| Q1 25 | $2.78 | $0.16 | ||
| Q4 24 | $0.08 | $-0.04 | ||
| Q3 24 | $0.05 | $-0.28 | ||
| Q2 24 | $2.66 | $0.06 | ||
| Q1 24 | $2.70 | $-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 | $3.6B | $434.0M |
| Total DebtLower is stronger | $4.3B | $1.4B |
| Stockholders' EquityBook value | $3.3B | $1.6B |
| Total Assets | $22.7B | $4.9B |
| Debt / EquityLower = less leverage | 1.29× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.6B | $434.0M | ||
| Q3 25 | $3.8B | $427.0M | ||
| Q2 25 | $3.8B | $601.0M | ||
| Q1 25 | $4.2B | $552.0M | ||
| Q4 24 | $4.0B | $536.0M | ||
| Q3 24 | $3.5B | $524.0M | ||
| Q2 24 | $4.1B | $515.0M | ||
| Q1 24 | $3.8B | $475.0M |
| Q4 25 | $4.3B | $1.4B | ||
| Q3 25 | $3.8B | $1.4B | ||
| Q2 25 | $4.2B | $1.4B | ||
| Q1 25 | $5.1B | $1.4B | ||
| Q4 24 | $5.6B | $1.4B | ||
| Q3 24 | $4.6B | $1.4B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.3B | $1.6B | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.2B | $1.2B | ||
| Q1 25 | $3.1B | $1.1B | ||
| Q4 24 | $3.1B | $1.1B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $3.2B | $1.2B | ||
| Q1 24 | $3.0B | $1.2B |
| Q4 25 | $22.7B | $4.9B | ||
| Q3 25 | $21.7B | $4.8B | ||
| Q2 25 | $21.8B | $3.9B | ||
| Q1 25 | $22.4B | $3.8B | ||
| Q4 24 | $22.9B | $3.6B | ||
| Q3 24 | $21.7B | $3.8B | ||
| Q2 24 | $22.1B | $3.8B | ||
| Q1 24 | $22.3B | $3.8B |
| Q4 25 | 1.29× | 0.88× | ||
| Q3 25 | 1.14× | 0.91× | ||
| Q2 25 | 1.34× | 1.15× | ||
| Q1 25 | 1.67× | 1.23× | ||
| Q4 24 | 1.82× | 1.32× | ||
| Q3 24 | 1.47× | 1.26× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $568.0M | $52.0M |
| Free Cash FlowOCF − Capex | — | $13.0M |
| FCF MarginFCF / Revenue | — | 1.6% |
| Capex IntensityCapex / Revenue | — | 4.9% |
| Cash ConversionOCF / Net Profit | — | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $568.0M | $52.0M | ||
| Q3 25 | $605.0M | $71.0M | ||
| Q2 25 | $526.0M | $57.0M | ||
| Q1 25 | $393.0M | $53.0M | ||
| Q4 24 | $479.0M | $65.0M | ||
| Q3 24 | $456.0M | $85.0M | ||
| Q2 24 | $477.0M | $73.0M | ||
| Q1 24 | $447.0M | $49.0M |
| Q4 25 | — | $13.0M | ||
| Q3 25 | — | $38.0M | ||
| Q2 25 | — | $27.0M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | $24.0M |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 4.1% |
| Q4 25 | — | 0.63× | ||
| Q3 25 | 3.22× | — | ||
| Q2 25 | 3.78× | 3.80× | ||
| Q1 25 | 2.85× | 0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 228.00× | — | ||
| Q2 24 | 3.59× | 2.70× | ||
| Q1 24 | 3.34× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFH
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
