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Side-by-side financial comparison of Essex Property Trust (ESS) 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 $479.6M, roughly 1.7× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 10.5%, a 7.4% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 5.5%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 6.0%).
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
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, ...
ESS vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.6M | $792.0M |
| Net Profit | $85.7M | $83.0M |
| Gross Margin | 70.0% | — |
| Operating Margin | 31.7% | 3.7% |
| Net Margin | 17.9% | 10.5% |
| Revenue YoY | 5.5% | 34.0% |
| Net Profit YoY | -71.6% | 692.9% |
| EPS (diluted) | $1.24 | $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 | $479.6M | $792.0M | ||
| Q3 25 | $473.3M | $674.0M | ||
| Q2 25 | $469.8M | $631.0M | ||
| Q1 25 | $464.6M | $621.0M | ||
| Q4 24 | $454.5M | $591.0M | ||
| Q3 24 | $450.7M | $597.0M | ||
| Q2 24 | $442.4M | $625.0M | ||
| Q1 24 | $426.9M | $610.0M |
| Q4 25 | $85.7M | $83.0M | ||
| Q3 25 | $172.7M | $-62.0M | ||
| Q2 25 | $231.5M | $15.0M | ||
| Q1 25 | $212.8M | $75.0M | ||
| Q4 24 | $301.7M | $-14.0M | ||
| Q3 24 | $125.5M | $-128.0M | ||
| Q2 24 | $99.0M | $27.0M | ||
| Q1 24 | $285.1M | $-19.0M |
| Q4 25 | 70.0% | — | ||
| Q3 25 | 69.2% | — | ||
| Q2 25 | 70.7% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 70.0% | — | ||
| Q3 24 | 69.5% | — | ||
| Q2 24 | 70.8% | — | ||
| Q1 24 | 69.7% | — |
| Q4 25 | 31.7% | 3.7% | ||
| Q3 25 | 44.5% | 1.8% | ||
| Q2 25 | 59.5% | 5.4% | ||
| Q1 25 | 55.3% | 8.9% | ||
| Q4 24 | 67.0% | 5.1% | ||
| Q3 24 | 28.6% | 4.5% | ||
| Q2 24 | 31.1% | 6.7% | ||
| Q1 24 | 31.0% | 2.6% |
| Q4 25 | 17.9% | 10.5% | ||
| Q3 25 | 36.5% | -9.2% | ||
| Q2 25 | 49.3% | 2.4% | ||
| Q1 25 | 45.8% | 12.1% | ||
| Q4 24 | 66.4% | -2.4% | ||
| Q3 24 | 27.8% | -21.4% | ||
| Q2 24 | 22.4% | 4.3% | ||
| Q1 24 | 66.8% | -3.1% |
| Q4 25 | $1.24 | $0.16 | ||
| Q3 25 | $2.56 | $-0.13 | ||
| Q2 25 | $3.44 | $0.03 | ||
| Q1 25 | $3.16 | $0.16 | ||
| Q4 24 | $4.00 | $-0.04 | ||
| Q3 24 | $1.84 | $-0.28 | ||
| Q2 24 | $1.45 | $0.06 | ||
| Q1 24 | $4.25 | $-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 | $76.2M | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $5.5B | $1.6B |
| Total Assets | $13.2B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $434.0M | ||
| Q3 25 | $66.0M | $427.0M | ||
| Q2 25 | $58.7M | $601.0M | ||
| Q1 25 | $98.7M | $552.0M | ||
| Q4 24 | $66.8M | $536.0M | ||
| Q3 24 | $71.3M | $524.0M | ||
| Q2 24 | $55.2M | $515.0M | ||
| Q1 24 | $499.0M | $475.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $6.4B | $1.4B | ||
| Q2 25 | $6.4B | $1.4B | ||
| Q1 25 | $6.8B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $6.4B | $1.4B | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.6B | — |
| Q4 25 | $5.5B | $1.6B | ||
| Q3 25 | $5.6B | $1.5B | ||
| Q2 25 | $5.6B | $1.2B | ||
| Q1 25 | $5.6B | $1.1B | ||
| Q4 24 | $5.5B | $1.1B | ||
| Q3 24 | $5.4B | $1.1B | ||
| Q2 24 | $5.5B | $1.2B | ||
| Q1 24 | $5.5B | $1.2B |
| Q4 25 | $13.2B | $4.9B | ||
| Q3 25 | $13.2B | $4.8B | ||
| Q2 25 | $13.2B | $3.9B | ||
| Q1 25 | $13.2B | $3.8B | ||
| Q4 24 | $12.9B | $3.6B | ||
| Q3 24 | $12.6B | $3.8B | ||
| Q2 24 | $12.5B | $3.8B | ||
| Q1 24 | $12.9B | $3.8B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | 1.15× | 0.91× | ||
| Q2 25 | 1.14× | 1.15× | ||
| Q1 25 | 1.22× | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | 1.18× | 1.26× | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.19× | — |
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 | $1.1B | $52.0M |
| Free Cash FlowOCF − Capex | — | $13.0M |
| FCF MarginFCF / Revenue | — | 1.6% |
| Capex IntensityCapex / Revenue | — | 4.9% |
| Cash ConversionOCF / Net Profit | 12.53× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $52.0M | ||
| Q3 25 | $342.6M | $71.0M | ||
| Q2 25 | $216.1M | $57.0M | ||
| Q1 25 | $281.5M | $53.0M | ||
| Q4 24 | $1.1B | $65.0M | ||
| Q3 24 | $316.2M | $85.0M | ||
| Q2 24 | $218.9M | $73.0M | ||
| Q1 24 | $314.9M | $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 | 12.53× | 0.63× | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 0.93× | 3.80× | ||
| Q1 25 | 1.32× | 0.71× | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 2.52× | — | ||
| Q2 24 | 2.21× | 2.70× | ||
| Q1 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESS
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
