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Side-by-side financial comparison of Fidelity National Financial, Inc. (FNF) 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 $544.0M, roughly 1.5× Fidelity National Financial, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs -21.5%, a 32.0% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 10.3%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 13.7%).
Fidelity National Financial, Inc., is an American provider of title insurance and settlement services to the real estate and mortgage industries. A Fortune 500 company, Fidelity National Financial generated approximately $8.469 billion in annual revenue in 2019 from its title and real estate-related operations. The company was the first instance of an attorney licensed by a Native American Tribe being certified as "authorized house counsel" in the state of Florida.
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, ...
FNF vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $544.0M | $792.0M |
| Net Profit | $-117.0M | $83.0M |
| Gross Margin | — | — |
| Operating Margin | 82.9% | 3.7% |
| Net Margin | -21.5% | 10.5% |
| Revenue YoY | 10.3% | 34.0% |
| Net Profit YoY | -126.0% | 692.9% |
| EPS (diluted) | $-0.44 | $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 | $544.0M | $792.0M | ||
| Q3 25 | $553.0M | $674.0M | ||
| Q2 25 | $547.0M | $631.0M | ||
| Q1 25 | $455.0M | $621.0M | ||
| Q4 24 | $493.0M | $591.0M | ||
| Q3 24 | $506.0M | $597.0M | ||
| Q2 24 | $504.0M | $625.0M | ||
| Q1 24 | $421.0M | $610.0M |
| Q4 25 | $-117.0M | $83.0M | ||
| Q3 25 | $358.0M | $-62.0M | ||
| Q2 25 | $278.0M | $15.0M | ||
| Q1 25 | $83.0M | $75.0M | ||
| Q4 24 | $450.0M | $-14.0M | ||
| Q3 24 | $266.0M | $-128.0M | ||
| Q2 24 | $306.0M | $27.0M | ||
| Q1 24 | $248.0M | $-19.0M |
| Q4 25 | 82.9% | 3.7% | ||
| Q3 25 | 81.9% | 1.8% | ||
| Q2 25 | 69.8% | 5.4% | ||
| Q1 25 | 24.4% | 8.9% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | 61.9% | 4.5% | ||
| Q2 24 | 90.9% | 6.7% | ||
| Q1 24 | 78.6% | 2.6% |
| Q4 25 | -21.5% | 10.5% | ||
| Q3 25 | 64.7% | -9.2% | ||
| Q2 25 | 50.8% | 2.4% | ||
| Q1 25 | 18.2% | 12.1% | ||
| Q4 24 | 91.3% | -2.4% | ||
| Q3 24 | 52.6% | -21.4% | ||
| Q2 24 | 60.7% | 4.3% | ||
| Q1 24 | 58.9% | -3.1% |
| Q4 25 | $-0.44 | $0.16 | ||
| Q3 25 | $1.33 | $-0.13 | ||
| Q2 25 | $1.02 | $0.03 | ||
| Q1 25 | $0.30 | $0.16 | ||
| Q4 24 | $1.65 | $-0.04 | ||
| Q3 24 | $0.97 | $-0.28 | ||
| Q2 24 | $1.12 | $0.06 | ||
| Q1 24 | $0.91 | $-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 | $2.6B | $434.0M |
| Total DebtLower is stronger | $4.4B | $1.4B |
| Stockholders' EquityBook value | $7.4B | $1.6B |
| Total Assets | $109.0B | $4.9B |
| Debt / EquityLower = less leverage | 0.59× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.6B | $434.0M | ||
| Q3 25 | $3.5B | $427.0M | ||
| Q2 25 | $3.3B | $601.0M | ||
| Q1 25 | $4.5B | $552.0M | ||
| Q4 24 | $3.5B | $536.0M | ||
| Q3 24 | $5.0B | $524.0M | ||
| Q2 24 | $4.9B | $515.0M | ||
| Q1 24 | $3.5B | $475.0M |
| Q4 25 | $4.4B | $1.4B | ||
| Q3 25 | $4.4B | $1.4B | ||
| Q2 25 | $4.4B | $1.4B | ||
| Q1 25 | $4.4B | $1.4B | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | $4.2B | $1.4B | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $3.9B | — |
| Q4 25 | $7.4B | $1.6B | ||
| Q3 25 | $8.4B | $1.5B | ||
| Q2 25 | $7.9B | $1.2B | ||
| Q1 25 | $7.9B | $1.1B | ||
| Q4 24 | $7.8B | $1.1B | ||
| Q3 24 | $8.1B | $1.1B | ||
| Q2 24 | $7.3B | $1.2B | ||
| Q1 24 | $7.1B | $1.2B |
| Q4 25 | $109.0B | $4.9B | ||
| Q3 25 | $106.6B | $4.8B | ||
| Q2 25 | $102.3B | $3.9B | ||
| Q1 25 | $98.2B | $3.8B | ||
| Q4 24 | $95.4B | $3.6B | ||
| Q3 24 | $94.7B | $3.8B | ||
| Q2 24 | $88.8B | $3.8B | ||
| Q1 24 | $84.5B | $3.8B |
| Q4 25 | 0.59× | 0.88× | ||
| Q3 25 | 0.53× | 0.91× | ||
| Q2 25 | 0.56× | 1.15× | ||
| Q1 25 | 0.56× | 1.23× | ||
| Q4 24 | 0.56× | 1.32× | ||
| Q3 24 | 0.52× | 1.26× | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 0.55× | — |
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 | $1.5B | $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 | $1.5B | $52.0M | ||
| Q3 25 | $1.3B | $71.0M | ||
| Q2 25 | $1.9B | $57.0M | ||
| Q1 25 | $1.1B | $53.0M | ||
| Q4 24 | $1.5B | $65.0M | ||
| Q3 24 | $2.4B | $85.0M | ||
| Q2 24 | $1.4B | $73.0M | ||
| Q1 24 | $1.6B | $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 | 3.66× | — | ||
| Q2 25 | 6.82× | 3.80× | ||
| Q1 25 | 13.43× | 0.71× | ||
| Q4 24 | 3.32× | — | ||
| Q3 24 | 8.89× | — | ||
| Q2 24 | 4.45× | 2.70× | ||
| Q1 24 | 6.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
