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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $792.0M, roughly 1.3× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 2.2%, a 8.3% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 4.5%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs -6.2%).
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, ...
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
GBTG vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $1.0B |
| Net Profit | $83.0M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | 2.2% |
| Net Margin | 10.5% | 2.2% |
| Revenue YoY | 34.0% | 4.5% |
| Net Profit YoY | 692.9% | — |
| EPS (diluted) | $0.16 | $0.14 |
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.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $792.0M | $1.0B | ||
| Q3 25 | $674.0M | $947.4M | ||
| Q2 25 | $631.0M | $1.0B | ||
| Q1 25 | $621.0M | $977.5M | ||
| Q4 24 | $591.0M | $943.6M | ||
| Q3 24 | $597.0M | $1.1B | ||
| Q2 24 | $625.0M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $83.0M | $13.7M | ||
| Q3 25 | $-62.0M | $43.1M | ||
| Q2 25 | $15.0M | $71.0M | ||
| Q1 25 | $75.0M | $20.1M | ||
| Q4 24 | $-14.0M | $51.9M | ||
| Q3 24 | $-128.0M | $73.8M | ||
| Q2 24 | $27.0M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 3.7% | 1.9% | ||
| Q3 25 | 1.8% | -0.3% | ||
| Q2 25 | 5.4% | 3.6% | ||
| Q1 25 | 8.9% | 1.9% | ||
| Q4 24 | 5.1% | 2.6% | ||
| Q3 24 | 4.5% | 9.4% | ||
| Q2 24 | 6.7% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 10.5% | 1.3% | ||
| Q3 25 | -9.2% | 4.5% | ||
| Q2 25 | 2.4% | 6.8% | ||
| Q1 25 | 12.1% | 2.1% | ||
| Q4 24 | -2.4% | 5.5% | ||
| Q3 24 | -21.4% | 6.5% | ||
| Q2 24 | 4.3% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.16 | $0.08 | ||
| Q3 25 | $-0.13 | $0.26 | ||
| Q2 25 | $0.03 | $0.43 | ||
| Q1 25 | $0.16 | $0.12 | ||
| Q4 24 | $-0.04 | $0.31 | ||
| Q3 24 | $-0.28 | $0.44 | ||
| Q2 24 | $0.06 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $434.0M | $699.1M |
| Total DebtLower is stronger | $1.4B | $7.1M |
| Stockholders' EquityBook value | $1.6B | $1.9B |
| Total Assets | $4.9B | $4.4B |
| Debt / EquityLower = less leverage | 0.88× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $434.0M | $27.6M | ||
| Q3 25 | $427.0M | $13.5M | ||
| Q2 25 | $601.0M | $19.6M | ||
| Q1 25 | $552.0M | $24.1M | ||
| Q4 24 | $536.0M | $20.0M | ||
| Q3 24 | $524.0M | $23.0M | ||
| Q2 24 | $515.0M | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $1.4B | $246.6M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $190.5M | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $1.1B | $2.0B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.1B | $2.0B | ||
| Q2 24 | $1.2B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $4.9B | $3.6B | ||
| Q3 25 | $4.8B | $3.5B | ||
| Q2 25 | $3.9B | $3.4B | ||
| Q1 25 | $3.8B | $3.4B | ||
| Q4 24 | $3.6B | $3.3B | ||
| Q3 24 | $3.8B | $3.3B | ||
| Q2 24 | $3.8B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.88× | 0.12× | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.32× | 0.10× | ||
| Q3 24 | 1.26× | — | ||
| Q2 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 | $52.0M | — |
| Free Cash FlowOCF − Capex | $13.0M | — |
| FCF MarginFCF / Revenue | 1.6% | — |
| Capex IntensityCapex / Revenue | 4.9% | 13.1% |
| Cash ConversionOCF / Net Profit | 0.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $52.0M | $195.4M | ||
| Q3 25 | $71.0M | $51.5M | ||
| Q2 25 | $57.0M | $170.6M | ||
| Q1 25 | $53.0M | $192.1M | ||
| Q4 24 | $65.0M | $177.3M | ||
| Q3 24 | $85.0M | $244.5M | ||
| Q2 24 | $73.0M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $13.0M | $-10.0M | ||
| Q3 25 | $38.0M | $-67.2M | ||
| Q2 25 | $27.0M | $33.1M | ||
| Q1 25 | $26.0M | $58.2M | ||
| Q4 24 | $33.0M | $-26.2M | ||
| Q3 24 | $59.0M | $77.9M | ||
| Q2 24 | $49.0M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | -1.0% | ||
| Q3 25 | 5.6% | -7.1% | ||
| Q2 25 | 4.3% | 3.2% | ||
| Q1 25 | 4.2% | 6.0% | ||
| Q4 24 | 5.6% | -2.8% | ||
| Q3 24 | 9.9% | 6.8% | ||
| Q2 24 | 7.8% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 4.9% | 19.8% | ||
| Q3 25 | 4.9% | 12.5% | ||
| Q2 25 | 4.8% | 13.2% | ||
| Q1 25 | 4.3% | 13.7% | ||
| Q4 24 | 5.4% | 21.6% | ||
| Q3 24 | 4.4% | 14.6% | ||
| Q2 24 | 3.8% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.63× | 14.28× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | 3.80× | 2.40× | ||
| Q1 25 | 0.71× | 9.55× | ||
| Q4 24 | — | 3.42× | ||
| Q3 24 | — | 3.31× | ||
| Q2 24 | 2.70× | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
LBRT
Segment breakdown not available.
