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Side-by-side financial comparison of CrowdStrike (CRWD) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
CrowdStrike is the larger business by last-quarter revenue ($1.2B vs $792.0M, roughly 1.6× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs -2.8%, a 13.2% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 22.2%). CrowdStrike produced more free cash flow last quarter ($314.1M vs $13.0M). Over the past eight quarters, CrowdStrike's revenue compounded faster (20.8% CAGR vs 13.9%).
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas. It provides endpoint security, threat intelligence, and cyberattack response services.
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, ...
CRWD vs GBTG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $792.0M |
| Net Profit | $-34.0M | $83.0M |
| Gross Margin | 75.1% | — |
| Operating Margin | -5.6% | 3.7% |
| Net Margin | -2.8% | 10.5% |
| Revenue YoY | 22.2% | 34.0% |
| Net Profit YoY | -102.1% | 692.9% |
| EPS (diluted) | $-0.14 | $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 | $1.2B | $792.0M | ||
| Q3 25 | $1.2B | $674.0M | ||
| Q2 25 | $1.1B | $631.0M | ||
| Q1 25 | $1.1B | $621.0M | ||
| Q4 24 | $1.0B | $591.0M | ||
| Q3 24 | $963.9M | $597.0M | ||
| Q2 24 | $921.0M | $625.0M | ||
| Q1 24 | $845.3M | $610.0M |
| Q4 25 | $-34.0M | $83.0M | ||
| Q3 25 | $-77.7M | $-62.0M | ||
| Q2 25 | $-110.2M | $15.0M | ||
| Q1 25 | $-92.3M | $75.0M | ||
| Q4 24 | $-16.8M | $-14.0M | ||
| Q3 24 | $47.0M | $-128.0M | ||
| Q2 24 | $42.8M | $27.0M | ||
| Q1 24 | $53.7M | $-19.0M |
| Q4 25 | 75.1% | — | ||
| Q3 25 | 73.5% | — | ||
| Q2 25 | 73.8% | — | ||
| Q1 25 | 74.1% | — | ||
| Q4 24 | 74.7% | — | ||
| Q3 24 | 75.4% | — | ||
| Q2 24 | 75.6% | — | ||
| Q1 24 | 75.3% | — |
| Q4 25 | -5.6% | 3.7% | ||
| Q3 25 | -9.7% | 1.8% | ||
| Q2 25 | -11.3% | 5.4% | ||
| Q1 25 | -8.1% | 8.9% | ||
| Q4 24 | -5.5% | 5.1% | ||
| Q3 24 | 1.4% | 4.5% | ||
| Q2 24 | 0.8% | 6.7% | ||
| Q1 24 | 3.5% | 2.6% |
| Q4 25 | -2.8% | 10.5% | ||
| Q3 25 | -6.6% | -9.2% | ||
| Q2 25 | -10.0% | 2.4% | ||
| Q1 25 | -8.7% | 12.1% | ||
| Q4 24 | -1.7% | -2.4% | ||
| Q3 24 | 4.9% | -21.4% | ||
| Q2 24 | 4.6% | 4.3% | ||
| Q1 24 | 6.4% | -3.1% |
| Q4 25 | $-0.14 | $0.16 | ||
| Q3 25 | $-0.31 | $-0.13 | ||
| Q2 25 | $-0.44 | $0.03 | ||
| Q1 25 | $-0.37 | $0.16 | ||
| Q4 24 | $-0.07 | $-0.04 | ||
| Q3 24 | $0.19 | $-0.28 | ||
| Q2 24 | $0.17 | $0.06 | ||
| Q1 24 | $0.23 | $-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 | $4.8B | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $4.0B | $1.6B |
| Total Assets | $10.0B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.8B | $434.0M | ||
| Q3 25 | $5.0B | $427.0M | ||
| Q2 25 | $4.6B | $601.0M | ||
| Q1 25 | $4.3B | $552.0M | ||
| Q4 24 | $4.3B | $536.0M | ||
| Q3 24 | $4.0B | $524.0M | ||
| Q2 24 | $3.7B | $515.0M | ||
| Q1 24 | $3.5B | $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 | — | — |
| Q4 25 | $4.0B | $1.6B | ||
| Q3 25 | $3.8B | $1.5B | ||
| Q2 25 | $3.5B | $1.2B | ||
| Q1 25 | $3.3B | $1.1B | ||
| Q4 24 | $3.1B | $1.1B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $2.5B | $1.2B | ||
| Q1 24 | $2.3B | $1.2B |
| Q4 25 | $10.0B | $4.9B | ||
| Q3 25 | $9.3B | $4.8B | ||
| Q2 25 | $8.7B | $3.9B | ||
| Q1 25 | $8.7B | $3.8B | ||
| Q4 24 | $7.8B | $3.6B | ||
| Q3 24 | $7.2B | $3.8B | ||
| Q2 24 | $6.8B | $3.8B | ||
| Q1 24 | $6.6B | $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 | — | — |
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 | $397.5M | $52.0M |
| Free Cash FlowOCF − Capex | $314.1M | $13.0M |
| FCF MarginFCF / Revenue | 25.5% | 1.6% |
| Capex IntensityCapex / Revenue | 6.8% | 4.9% |
| Cash ConversionOCF / Net Profit | — | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $397.5M | $52.0M | ||
| Q3 25 | $332.8M | $71.0M | ||
| Q2 25 | $384.1M | $57.0M | ||
| Q1 25 | $345.7M | $53.0M | ||
| Q4 24 | $326.1M | $65.0M | ||
| Q3 24 | $326.6M | $85.0M | ||
| Q2 24 | $383.2M | $73.0M | ||
| Q1 24 | $347.0M | $49.0M |
| Q4 25 | $314.1M | $13.0M | ||
| Q3 25 | $302.3M | $38.0M | ||
| Q2 25 | $298.4M | $27.0M | ||
| Q1 25 | $258.5M | $26.0M | ||
| Q4 24 | $247.4M | $33.0M | ||
| Q3 24 | $287.4M | $59.0M | ||
| Q2 24 | $333.5M | $49.0M | ||
| Q1 24 | $294.4M | $24.0M |
| Q4 25 | 25.5% | 1.6% | ||
| Q3 25 | 25.9% | 5.6% | ||
| Q2 25 | 27.0% | 4.3% | ||
| Q1 25 | 24.4% | 4.2% | ||
| Q4 24 | 24.5% | 5.6% | ||
| Q3 24 | 29.8% | 9.9% | ||
| Q2 24 | 36.2% | 7.8% | ||
| Q1 24 | 34.8% | 3.9% |
| Q4 25 | 6.8% | 4.9% | ||
| Q3 25 | 2.6% | 4.9% | ||
| Q2 25 | 7.8% | 4.8% | ||
| Q1 25 | 8.2% | 4.3% | ||
| Q4 24 | 7.8% | 5.4% | ||
| Q3 24 | 4.1% | 4.4% | ||
| Q2 24 | 5.4% | 3.8% | ||
| Q1 24 | 6.2% | 4.1% |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.95× | — | ||
| Q2 24 | 8.95× | 2.70× | ||
| Q1 24 | 6.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRWD
| Subscription And Circulation | $1.2B | 95% |
| Professional Services | $65.5M | 5% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
