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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Principal Financial Group (PFG). 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 $750.8M, roughly 1.1× Principal Financial Group). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 0.3%, a 10.2% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 4.0%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs -58.3%).
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, ...
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
GBTG vs PFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $750.8M |
| Net Profit | $83.0M | $1.9M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | — |
| Net Margin | 10.5% | 0.3% |
| Revenue YoY | 34.0% | 4.0% |
| Net Profit YoY | 692.9% | 783.0% |
| EPS (diluted) | $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.
| Q1 26 | — | $750.8M | ||
| Q4 25 | $792.0M | $4.6B | ||
| Q3 25 | $674.0M | $3.7B | ||
| Q2 25 | $631.0M | $3.7B | ||
| Q1 25 | $621.0M | $3.7B | ||
| Q4 24 | $591.0M | $4.8B | ||
| Q3 24 | $597.0M | $3.0B | ||
| Q2 24 | $625.0M | $4.3B |
| Q1 26 | — | $1.9M | ||
| Q4 25 | $83.0M | $517.0M | ||
| Q3 25 | $-62.0M | $213.8M | ||
| Q2 25 | $15.0M | $406.2M | ||
| Q1 25 | $75.0M | $48.1M | ||
| Q4 24 | $-14.0M | $905.4M | ||
| Q3 24 | $-128.0M | $-220.0M | ||
| Q2 24 | $27.0M | $353.1M |
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 8.9% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 6.7% | — |
| Q1 26 | — | 0.3% | ||
| Q4 25 | 10.5% | 11.3% | ||
| Q3 25 | -9.2% | 5.8% | ||
| Q2 25 | 2.4% | 11.1% | ||
| Q1 25 | 12.1% | 1.3% | ||
| Q4 24 | -2.4% | 19.1% | ||
| Q3 24 | -21.4% | -7.3% | ||
| Q2 24 | 4.3% | 8.2% |
| Q1 26 | — | — | ||
| Q4 25 | $0.16 | $2.30 | ||
| Q3 25 | $-0.13 | $0.95 | ||
| Q2 25 | $0.03 | $1.79 | ||
| Q1 25 | $0.16 | $0.21 | ||
| Q4 24 | $-0.04 | $3.92 | ||
| Q3 24 | $-0.28 | $-0.95 | ||
| Q2 24 | $0.06 | $1.49 |
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 | — |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $1.6B | — |
| Total Assets | $4.9B | — |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $434.0M | $4.4B | ||
| Q3 25 | $427.0M | $5.1B | ||
| Q2 25 | $601.0M | $3.7B | ||
| Q1 25 | $552.0M | $3.9B | ||
| Q4 24 | $536.0M | $4.2B | ||
| Q3 24 | $524.0M | $6.2B | ||
| Q2 24 | $515.0M | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $3.9B | ||
| Q3 25 | $1.4B | $3.9B | ||
| Q2 25 | $1.4B | $3.9B | ||
| Q1 25 | $1.4B | $4.3B | ||
| Q4 24 | $1.4B | $4.0B | ||
| Q3 24 | $1.4B | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $11.9B | ||
| Q3 25 | $1.5B | $11.7B | ||
| Q2 25 | $1.2B | $11.4B | ||
| Q1 25 | $1.1B | $11.2B | ||
| Q4 24 | $1.1B | $11.1B | ||
| Q3 24 | $1.1B | $11.2B | ||
| Q2 24 | $1.2B | $11.0B |
| Q1 26 | — | — | ||
| Q4 25 | $4.9B | $341.4B | ||
| Q3 25 | $4.8B | $334.5B | ||
| Q2 25 | $3.9B | $323.1B | ||
| Q1 25 | $3.8B | $313.0B | ||
| Q4 24 | $3.6B | $313.7B | ||
| Q3 24 | $3.8B | $322.9B | ||
| Q2 24 | $3.8B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.88× | 0.33× | ||
| Q3 25 | 0.91× | 0.34× | ||
| Q2 25 | 1.15× | 0.34× | ||
| Q1 25 | 1.23× | 0.39× | ||
| Q4 24 | 1.32× | 0.36× | ||
| Q3 24 | 1.26× | 0.35× | ||
| Q2 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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $52.0M | $1.7B | ||
| Q3 25 | $71.0M | $1.0B | ||
| Q2 25 | $57.0M | $811.9M | ||
| Q1 25 | $53.0M | $977.3M | ||
| Q4 24 | $65.0M | $1.5B | ||
| Q3 24 | $85.0M | $1.1B | ||
| Q2 24 | $73.0M | $1.4B |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 0.63× | 3.37× | ||
| Q3 25 | — | 4.70× | ||
| Q2 25 | 3.80× | 2.00× | ||
| Q1 25 | 0.71× | 20.32× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.70× | 4.05× |
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% |
PFG
Segment breakdown not available.
