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Side-by-side financial comparison of Fabrinet (FN) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $792.0M, roughly 1.4× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 9.9%, a 0.5% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 34.0%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-5.3M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% CAGR vs 13.9%).
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
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, ...
FN vs GBTG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $792.0M |
| Net Profit | $112.6M | $83.0M |
| Gross Margin | 12.2% | — |
| Operating Margin | 10.1% | 3.7% |
| Net Margin | 9.9% | 10.5% |
| Revenue YoY | 35.9% | 34.0% |
| Net Profit YoY | 30.0% | 692.9% |
| EPS (diluted) | $3.11 | $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 | $1.1B | $792.0M | ||
| Q3 25 | $978.1M | $674.0M | ||
| Q2 25 | $909.7M | $631.0M | ||
| Q1 25 | $871.8M | $621.0M | ||
| Q4 24 | $833.6M | $591.0M | ||
| Q3 24 | $804.2M | $597.0M | ||
| Q2 24 | $753.3M | $625.0M | ||
| Q1 24 | $731.5M | $610.0M |
| Q4 25 | $112.6M | $83.0M | ||
| Q3 25 | $95.9M | $-62.0M | ||
| Q2 25 | $87.2M | $15.0M | ||
| Q1 25 | $81.3M | $75.0M | ||
| Q4 24 | $86.6M | $-14.0M | ||
| Q3 24 | $77.4M | $-128.0M | ||
| Q2 24 | $81.1M | $27.0M | ||
| Q1 24 | $80.9M | $-19.0M |
| Q4 25 | 12.2% | — | ||
| Q3 25 | 11.9% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 12.1% | — | ||
| Q3 24 | 12.3% | — | ||
| Q2 24 | 12.3% | — | ||
| Q1 24 | 12.4% | — |
| Q4 25 | 10.1% | 3.7% | ||
| Q3 25 | 9.6% | 1.8% | ||
| Q2 25 | 9.8% | 5.4% | ||
| Q1 25 | 9.0% | 8.9% | ||
| Q4 24 | 9.5% | 5.1% | ||
| Q3 24 | 9.6% | 4.5% | ||
| Q2 24 | 9.7% | 6.7% | ||
| Q1 24 | 9.7% | 2.6% |
| Q4 25 | 9.9% | 10.5% | ||
| Q3 25 | 9.8% | -9.2% | ||
| Q2 25 | 9.6% | 2.4% | ||
| Q1 25 | 9.3% | 12.1% | ||
| Q4 24 | 10.4% | -2.4% | ||
| Q3 24 | 9.6% | -21.4% | ||
| Q2 24 | 10.8% | 4.3% | ||
| Q1 24 | 11.1% | -3.1% |
| Q4 25 | $3.11 | $0.16 | ||
| Q3 25 | $2.66 | $-0.13 | ||
| Q2 25 | $2.41 | $0.03 | ||
| Q1 25 | $2.25 | $0.16 | ||
| Q4 24 | $2.38 | $-0.04 | ||
| Q3 24 | $2.13 | $-0.28 | ||
| Q2 24 | $2.22 | $0.06 | ||
| Q1 24 | $2.21 | $-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 | $960.8M | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $2.2B | $1.6B |
| Total Assets | $3.3B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $960.8M | $434.0M | ||
| Q3 25 | $968.8M | $427.0M | ||
| Q2 25 | $934.2M | $601.0M | ||
| Q1 25 | $950.7M | $552.0M | ||
| Q4 24 | $934.6M | $536.0M | ||
| Q3 24 | $908.9M | $524.0M | ||
| Q2 24 | $858.6M | $515.0M | ||
| Q1 24 | $794.0M | $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 | $2.2B | $1.6B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $1.7B | $1.2B |
| Q4 25 | $3.3B | $4.9B | ||
| Q3 25 | $3.0B | $4.8B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.6B | $3.8B | ||
| Q4 24 | $2.5B | $3.6B | ||
| Q3 24 | $2.4B | $3.8B | ||
| Q2 24 | $2.3B | $3.8B | ||
| Q1 24 | $2.2B | $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 | $46.3M | $52.0M |
| Free Cash FlowOCF − Capex | $-5.3M | $13.0M |
| FCF MarginFCF / Revenue | -0.5% | 1.6% |
| Capex IntensityCapex / Revenue | 4.6% | 4.9% |
| Cash ConversionOCF / Net Profit | 0.41× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $102.3M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.3M | $52.0M | ||
| Q3 25 | $102.6M | $71.0M | ||
| Q2 25 | $55.1M | $57.0M | ||
| Q1 25 | $74.2M | $53.0M | ||
| Q4 24 | $115.9M | $65.0M | ||
| Q3 24 | $83.2M | $85.0M | ||
| Q2 24 | $83.1M | $73.0M | ||
| Q1 24 | $100.9M | $49.0M |
| Q4 25 | $-5.3M | $13.0M | ||
| Q3 25 | $57.3M | $38.0M | ||
| Q2 25 | $4.7M | $27.0M | ||
| Q1 25 | $45.7M | $26.0M | ||
| Q4 24 | $94.0M | $33.0M | ||
| Q3 24 | $62.9M | $59.0M | ||
| Q2 24 | $70.4M | $49.0M | ||
| Q1 24 | $87.3M | $24.0M |
| Q4 25 | -0.5% | 1.6% | ||
| Q3 25 | 5.9% | 5.6% | ||
| Q2 25 | 0.5% | 4.3% | ||
| Q1 25 | 5.2% | 4.2% | ||
| Q4 24 | 11.3% | 5.6% | ||
| Q3 24 | 7.8% | 9.9% | ||
| Q2 24 | 9.3% | 7.8% | ||
| Q1 24 | 11.9% | 3.9% |
| Q4 25 | 4.6% | 4.9% | ||
| Q3 25 | 4.6% | 4.9% | ||
| Q2 25 | 5.5% | 4.8% | ||
| Q1 25 | 3.3% | 4.3% | ||
| Q4 24 | 2.6% | 5.4% | ||
| Q3 24 | 2.5% | 4.4% | ||
| Q2 24 | 1.7% | 3.8% | ||
| Q1 24 | 1.9% | 4.1% |
| Q4 25 | 0.41× | 0.63× | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 0.63× | 3.80× | ||
| Q1 25 | 0.91× | 0.71× | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.07× | — | ||
| Q2 24 | 1.02× | 2.70× | ||
| Q1 24 | 1.25× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
