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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Magnera Corp (MAGN). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $792.0M, roughly 1.0× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs -4.3%, a 14.8% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 12.8%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-13.0M). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs 13.9%).
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, ...
GBTG vs MAGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $792.0M |
| Net Profit | $83.0M | $-34.0M |
| Gross Margin | — | 12.2% |
| Operating Margin | 3.7% | 1.8% |
| Net Margin | 10.5% | -4.3% |
| Revenue YoY | 34.0% | 12.8% |
| Net Profit YoY | 692.9% | 43.3% |
| EPS (diluted) | $0.16 | $-0.95 |
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 | $792.0M | ||
| Q3 25 | $674.0M | — | ||
| Q2 25 | $631.0M | $839.0M | ||
| Q1 25 | $621.0M | $824.0M | ||
| Q4 24 | $591.0M | $702.0M | ||
| Q3 24 | $597.0M | $332.1M | ||
| Q2 24 | $625.0M | $556.0M | ||
| Q1 24 | $610.0M | $558.0M |
| Q4 25 | $83.0M | $-34.0M | ||
| Q3 25 | $-62.0M | — | ||
| Q2 25 | $15.0M | $-18.0M | ||
| Q1 25 | $75.0M | $-41.0M | ||
| Q4 24 | $-14.0M | $-60.0M | ||
| Q3 24 | $-128.0M | $-15.2M | ||
| Q2 24 | $27.0M | $19.0M | ||
| Q1 24 | $-19.0M | $14.0M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 10.7% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | 6.2% |
| Q4 25 | 3.7% | 1.8% | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 5.4% | 1.5% | ||
| Q1 25 | 8.9% | 0.5% | ||
| Q4 24 | 5.1% | -3.1% | ||
| Q3 24 | 4.5% | 0.9% | ||
| Q2 24 | 6.7% | 3.1% | ||
| Q1 24 | 2.6% | 3.8% |
| Q4 25 | 10.5% | -4.3% | ||
| Q3 25 | -9.2% | — | ||
| Q2 25 | 2.4% | -2.1% | ||
| Q1 25 | 12.1% | -5.0% | ||
| Q4 24 | -2.4% | -8.5% | ||
| Q3 24 | -21.4% | -4.6% | ||
| Q2 24 | 4.3% | 3.4% | ||
| Q1 24 | -3.1% | 2.5% |
| Q4 25 | $0.16 | $-0.95 | ||
| Q3 25 | $-0.13 | — | ||
| Q2 25 | $0.03 | $-0.51 | ||
| Q1 25 | $0.16 | $-1.15 | ||
| Q4 24 | $-0.04 | $-1.69 | ||
| Q3 24 | $-0.28 | $-0.33 | ||
| Q2 24 | $0.06 | $0.60 | ||
| Q1 24 | $-0.04 | $0.44 |
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 | $264.0M |
| Total DebtLower is stronger | $1.4B | $1.9B |
| Stockholders' EquityBook value | $1.6B | $1.0B |
| Total Assets | $4.9B | $3.9B |
| Debt / EquityLower = less leverage | 0.88× | 1.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $264.0M | ||
| Q3 25 | $427.0M | — | ||
| Q2 25 | $601.0M | $276.0M | ||
| Q1 25 | $552.0M | $282.0M | ||
| Q4 24 | $536.0M | $215.0M | ||
| Q3 24 | $524.0M | $230.0M | ||
| Q2 24 | $515.0M | $33.9M | ||
| Q1 24 | $475.0M | $30.2M |
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | $2.0B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.4B | $2.0B | ||
| Q3 24 | $1.4B | $2.0B | ||
| Q2 24 | — | $877.4M | ||
| Q1 24 | — | $884.7M |
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.2B | $2.4B | ||
| Q1 24 | $1.2B | $2.4B |
| Q4 25 | $4.9B | $3.9B | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $3.9B | $4.1B | ||
| Q1 25 | $3.8B | $4.1B | ||
| Q4 24 | $3.6B | $4.0B | ||
| Q3 24 | $3.8B | $2.8B | ||
| Q2 24 | $3.8B | $1.5B | ||
| Q1 24 | $3.8B | $1.5B |
| Q4 25 | 0.88× | 1.86× | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 1.15× | 1.77× | ||
| Q1 25 | 1.23× | 1.83× | ||
| Q4 24 | 1.32× | 1.80× | ||
| Q3 24 | 1.26× | 0.91× | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.36× |
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 | $2.0M |
| Free Cash FlowOCF − Capex | $13.0M | $-13.0M |
| FCF MarginFCF / Revenue | 1.6% | -1.6% |
| Capex IntensityCapex / Revenue | 4.9% | 1.9% |
| Cash ConversionOCF / Net Profit | 0.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $2.0M | ||
| Q3 25 | $71.0M | — | ||
| Q2 25 | $57.0M | $0 | ||
| Q1 25 | $53.0M | $65.0M | ||
| Q4 24 | $65.0M | $-58.0M | ||
| Q3 24 | $85.0M | $12.2M | ||
| Q2 24 | $73.0M | $38.0M | ||
| Q1 24 | $49.0M | $20.0M |
| Q4 25 | $13.0M | $-13.0M | ||
| Q3 25 | $38.0M | — | ||
| Q2 25 | $27.0M | — | ||
| Q1 25 | $26.0M | $42.0M | ||
| Q4 24 | $33.0M | $-74.0M | ||
| Q3 24 | $59.0M | $3.6M | ||
| Q2 24 | $49.0M | $23.0M | ||
| Q1 24 | $24.0M | $12.5M |
| Q4 25 | 1.6% | -1.6% | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.2% | 5.1% | ||
| Q4 24 | 5.6% | -10.5% | ||
| Q3 24 | 9.9% | 1.1% | ||
| Q2 24 | 7.8% | 4.1% | ||
| Q1 24 | 3.9% | 2.2% |
| Q4 25 | 4.9% | 1.9% | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 4.8% | 1.5% | ||
| Q1 25 | 4.3% | 2.8% | ||
| Q4 24 | 5.4% | 2.3% | ||
| Q3 24 | 4.4% | 2.6% | ||
| Q2 24 | 3.8% | 2.7% | ||
| Q1 24 | 4.1% | 1.3% |
| Q4 25 | 0.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.80× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.70× | 2.00× | ||
| Q1 24 | — | 1.43× |
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% |
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
