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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Life Time Group Holdings, Inc. (LTH). 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 $745.1M, roughly 1.1× Life Time Group Holdings, Inc.). Life Time Group Holdings, Inc. runs the higher net margin — 16.5% vs 10.5%, a 6.0% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 12.3%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-64.6M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 11.7%).
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, ...
Life Time Group Holdings, Inc. operates a network of premium athletic, fitness and wellness destinations across the United States. It offers diverse services including state-of-the-art gym facilities, group exercise classes, personal training, spa treatments, nutrition coaching, youth programs and co-working spaces for consumers pursuing holistic healthy lifestyles.
GBTG vs LTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $745.1M |
| Net Profit | $83.0M | $123.0M |
| Gross Margin | — | 49.1% |
| Operating Margin | 3.7% | 17.4% |
| Net Margin | 10.5% | 16.5% |
| Revenue YoY | 34.0% | 12.3% |
| Net Profit YoY | 692.9% | 231.0% |
| EPS (diluted) | $0.16 | $0.55 |
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 | $792.0M | $745.1M | ||
| Q3 25 | $674.0M | $782.6M | ||
| Q2 25 | $631.0M | $761.5M | ||
| Q1 25 | $621.0M | $706.0M | ||
| Q4 24 | $591.0M | $663.3M | ||
| Q3 24 | $597.0M | $693.2M | ||
| Q2 24 | $625.0M | $667.8M | ||
| Q1 24 | $610.0M | $596.7M |
| Q4 25 | $83.0M | $123.0M | ||
| Q3 25 | $-62.0M | $102.4M | ||
| Q2 25 | $15.0M | $72.1M | ||
| Q1 25 | $75.0M | $76.1M | ||
| Q4 24 | $-14.0M | $37.2M | ||
| Q3 24 | $-128.0M | $41.4M | ||
| Q2 24 | $27.0M | $52.8M | ||
| Q1 24 | $-19.0M | $24.9M |
| Q4 25 | — | 49.1% | ||
| Q3 25 | — | 47.1% | ||
| Q2 25 | — | 47.0% | ||
| Q1 25 | — | 47.5% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 46.5% | ||
| Q2 24 | — | 46.8% | ||
| Q1 24 | — | 46.1% |
| Q4 25 | 3.7% | 17.4% | ||
| Q3 25 | 1.8% | 17.3% | ||
| Q2 25 | 5.4% | 14.2% | ||
| Q1 25 | 8.9% | 15.2% | ||
| Q4 24 | 5.1% | 13.1% | ||
| Q3 24 | 4.5% | 13.5% | ||
| Q2 24 | 6.7% | 15.7% | ||
| Q1 24 | 2.6% | 12.1% |
| Q4 25 | 10.5% | 16.5% | ||
| Q3 25 | -9.2% | 13.1% | ||
| Q2 25 | 2.4% | 9.5% | ||
| Q1 25 | 12.1% | 10.8% | ||
| Q4 24 | -2.4% | 5.6% | ||
| Q3 24 | -21.4% | 6.0% | ||
| Q2 24 | 4.3% | 7.9% | ||
| Q1 24 | -3.1% | 4.2% |
| Q4 25 | $0.16 | $0.55 | ||
| Q3 25 | $-0.13 | $0.45 | ||
| Q2 25 | $0.03 | $0.32 | ||
| Q1 25 | $0.16 | $0.34 | ||
| Q4 24 | $-0.04 | $0.17 | ||
| Q3 24 | $-0.28 | $0.19 | ||
| Q2 24 | $0.06 | $0.26 | ||
| Q1 24 | $-0.04 | $0.12 |
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 | $204.8M |
| Total DebtLower is stronger | $1.4B | $1.5B |
| Stockholders' EquityBook value | $1.6B | $3.1B |
| Total Assets | $4.9B | $8.0B |
| Debt / EquityLower = less leverage | 0.88× | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $204.8M | ||
| Q3 25 | $427.0M | $218.9M | ||
| Q2 25 | $601.0M | $175.5M | ||
| Q1 25 | $552.0M | $59.0M | ||
| Q4 24 | $536.0M | $10.9M | ||
| Q3 24 | $524.0M | $120.9M | ||
| Q2 24 | $515.0M | $34.5M | ||
| Q1 24 | $475.0M | $18.6M |
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.4B | $1.7B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | $1.6B | $3.1B | ||
| Q3 25 | $1.5B | $3.0B | ||
| Q2 25 | $1.2B | $2.9B | ||
| Q1 25 | $1.1B | $2.7B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.1B | $2.6B | ||
| Q2 24 | $1.2B | $2.4B | ||
| Q1 24 | $1.2B | $2.3B |
| Q4 25 | $4.9B | $8.0B | ||
| Q3 25 | $4.8B | $7.8B | ||
| Q2 25 | $3.9B | $7.6B | ||
| Q1 25 | $3.8B | $7.3B | ||
| Q4 24 | $3.6B | $7.2B | ||
| Q3 24 | $3.8B | $7.2B | ||
| Q2 24 | $3.8B | $7.1B | ||
| Q1 24 | $3.8B | $7.1B |
| Q4 25 | 0.88× | 0.48× | ||
| Q3 25 | 0.91× | 0.51× | ||
| Q2 25 | 1.15× | 0.53× | ||
| Q1 25 | 1.23× | 0.56× | ||
| Q4 24 | 1.32× | 0.59× | ||
| Q3 24 | 1.26× | 0.64× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.87× |
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 | $239.9M |
| Free Cash FlowOCF − Capex | $13.0M | $-64.6M |
| FCF MarginFCF / Revenue | 1.6% | -8.7% |
| Capex IntensityCapex / Revenue | 4.9% | 40.9% |
| Cash ConversionOCF / Net Profit | 0.63× | 1.95× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $-21.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $239.9M | ||
| Q3 25 | $71.0M | $251.1M | ||
| Q2 25 | $57.0M | $195.7M | ||
| Q1 25 | $53.0M | $183.9M | ||
| Q4 24 | $65.0M | $163.1M | ||
| Q3 24 | $85.0M | $151.1M | ||
| Q2 24 | $73.0M | $170.4M | ||
| Q1 24 | $49.0M | $90.4M |
| Q4 25 | $13.0M | $-64.6M | ||
| Q3 25 | $38.0M | $28.6M | ||
| Q2 25 | $27.0M | $-26.3M | ||
| Q1 25 | $26.0M | $41.4M | ||
| Q4 24 | $33.0M | $26.8M | ||
| Q3 24 | $59.0M | $64.0M | ||
| Q2 24 | $49.0M | $26.1M | ||
| Q1 24 | $24.0M | $-66.4M |
| Q4 25 | 1.6% | -8.7% | ||
| Q3 25 | 5.6% | 3.7% | ||
| Q2 25 | 4.3% | -3.5% | ||
| Q1 25 | 4.2% | 5.9% | ||
| Q4 24 | 5.6% | 4.0% | ||
| Q3 24 | 9.9% | 9.2% | ||
| Q2 24 | 7.8% | 3.9% | ||
| Q1 24 | 3.9% | -11.1% |
| Q4 25 | 4.9% | 40.9% | ||
| Q3 25 | 4.9% | 28.4% | ||
| Q2 25 | 4.8% | 29.2% | ||
| Q1 25 | 4.3% | 20.2% | ||
| Q4 24 | 5.4% | 20.6% | ||
| Q3 24 | 4.4% | 12.6% | ||
| Q2 24 | 3.8% | 21.6% | ||
| Q1 24 | 4.1% | 26.3% |
| Q4 25 | 0.63× | 1.95× | ||
| Q3 25 | — | 2.45× | ||
| Q2 25 | 3.80× | 2.71× | ||
| Q1 25 | 0.71× | 2.41× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | — | 3.65× | ||
| Q2 24 | 2.70× | 3.23× | ||
| Q1 24 | — | 3.63× |
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% |
LTH
| Membership | $535.1M | 72% |
| In Center | $191.2M | 26% |
| Other | $18.8M | 3% |
