vs
Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Park Hotels & Resorts Inc. (PK). 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 $630.0M, roughly 1.3× Park Hotels & Resorts Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 1.9%, a 8.6% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs -1.3%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs -4.2%).
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, ...
Park Hotels & Resorts is an American real estate investment trust (REIT) focused on hotel properties, based in Tysons, Virginia. It was formed in 2017 as a spin-off from Hilton Worldwide.
GBTG vs PK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $630.0M |
| Net Profit | $83.0M | $12.0M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | 9.8% |
| Net Margin | 10.5% | 1.9% |
| Revenue YoY | 34.0% | -1.3% |
| Net Profit YoY | 692.9% | 121.1% |
| EPS (diluted) | $0.16 | $0.05 |
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 | — | $630.0M | ||
| Q4 25 | $792.0M | $629.0M | ||
| Q3 25 | $674.0M | $610.0M | ||
| Q2 25 | $631.0M | $672.0M | ||
| Q1 25 | $621.0M | $630.0M | ||
| Q4 24 | $591.0M | $625.0M | ||
| Q3 24 | $597.0M | $649.0M | ||
| Q2 24 | $625.0M | $686.0M |
| Q1 26 | — | $12.0M | ||
| Q4 25 | $83.0M | $-205.0M | ||
| Q3 25 | $-62.0M | $-16.0M | ||
| Q2 25 | $15.0M | $-5.0M | ||
| Q1 25 | $75.0M | $-57.0M | ||
| Q4 24 | $-14.0M | $66.0M | ||
| Q3 24 | $-128.0M | $54.0M | ||
| Q2 24 | $27.0M | $64.0M |
| Q1 26 | — | 9.8% | ||
| Q4 25 | 3.7% | -26.1% | ||
| Q3 25 | 1.8% | 9.7% | ||
| Q2 25 | 5.4% | 9.7% | ||
| Q1 25 | 8.9% | 1.1% | ||
| Q4 24 | 5.1% | 13.3% | ||
| Q3 24 | 4.5% | 14.6% | ||
| Q2 24 | 6.7% | 17.6% |
| Q1 26 | — | 1.9% | ||
| Q4 25 | 10.5% | -32.6% | ||
| Q3 25 | -9.2% | -2.6% | ||
| Q2 25 | 2.4% | -0.7% | ||
| Q1 25 | 12.1% | -9.0% | ||
| Q4 24 | -2.4% | 10.6% | ||
| Q3 24 | -21.4% | 8.3% | ||
| Q2 24 | 4.3% | 9.3% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $0.16 | $-1.04 | ||
| Q3 25 | $-0.13 | $-0.08 | ||
| Q2 25 | $0.03 | $-0.02 | ||
| Q1 25 | $0.16 | $-0.29 | ||
| Q4 24 | $-0.04 | $0.32 | ||
| Q3 24 | $-0.28 | $0.26 | ||
| Q2 24 | $0.06 | $0.30 |
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 | $156.0M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $1.6B | $3.1B |
| Total Assets | $4.9B | — |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $156.0M | ||
| Q4 25 | $434.0M | $232.0M | ||
| Q3 25 | $427.0M | $278.0M | ||
| Q2 25 | $601.0M | $319.0M | ||
| Q1 25 | $552.0M | $233.0M | ||
| Q4 24 | $536.0M | $402.0M | ||
| Q3 24 | $524.0M | $480.0M | ||
| Q2 24 | $515.0M | $449.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $3.9B | ||
| Q3 25 | $1.4B | $3.9B | ||
| Q2 25 | $1.4B | $3.9B | ||
| Q1 25 | $1.4B | $3.9B | ||
| Q4 24 | $1.4B | $3.9B | ||
| Q3 24 | $1.4B | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | — | $3.1B | ||
| Q4 25 | $1.6B | $3.1B | ||
| Q3 25 | $1.5B | $3.4B | ||
| Q2 25 | $1.2B | $3.4B | ||
| Q1 25 | $1.1B | $3.5B | ||
| Q4 24 | $1.1B | $3.6B | ||
| Q3 24 | $1.1B | $3.8B | ||
| Q2 24 | $1.2B | $3.8B |
| Q1 26 | — | — | ||
| Q4 25 | $4.9B | $7.7B | ||
| Q3 25 | $4.8B | $8.8B | ||
| Q2 25 | $3.9B | $8.9B | ||
| Q1 25 | $3.8B | $8.9B | ||
| Q4 24 | $3.6B | $9.2B | ||
| Q3 24 | $3.8B | $9.2B | ||
| Q2 24 | $3.8B | $9.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.88× | 1.23× | ||
| Q3 25 | 0.91× | 1.14× | ||
| Q2 25 | 1.15× | 1.12× | ||
| Q1 25 | 1.23× | 1.11× | ||
| Q4 24 | 1.32× | 1.06× | ||
| Q3 24 | 1.26× | 1.03× | ||
| Q2 24 | — | 1.03× |
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 | $105.0M | ||
| Q3 25 | $71.0M | $99.0M | ||
| Q2 25 | $57.0M | $108.0M | ||
| Q1 25 | $53.0M | $86.0M | ||
| Q4 24 | $65.0M | $80.0M | ||
| Q3 24 | $85.0M | $140.0M | ||
| Q2 24 | $73.0M | $117.0M |
| Q1 26 | — | — | ||
| Q4 25 | $13.0M | $-3.0M | ||
| Q3 25 | $38.0M | $31.0M | ||
| Q2 25 | $27.0M | $65.0M | ||
| Q1 25 | $26.0M | $9.0M | ||
| Q4 24 | $33.0M | $17.0M | ||
| Q3 24 | $59.0M | $97.0M | ||
| Q2 24 | $49.0M | $66.0M |
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | -0.5% | ||
| Q3 25 | 5.6% | 5.1% | ||
| Q2 25 | 4.3% | 9.7% | ||
| Q1 25 | 4.2% | 1.4% | ||
| Q4 24 | 5.6% | 2.7% | ||
| Q3 24 | 9.9% | 14.9% | ||
| Q2 24 | 7.8% | 9.6% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | 17.2% | ||
| Q3 25 | 4.9% | 11.1% | ||
| Q2 25 | 4.8% | 6.4% | ||
| Q1 25 | 4.3% | 12.2% | ||
| Q4 24 | 5.4% | 10.1% | ||
| Q3 24 | 4.4% | 6.6% | ||
| Q2 24 | 3.8% | 7.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.80× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | — | 2.59× | ||
| Q2 24 | 2.70× | 1.83× |
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% |
PK
| Comparable Hotel Revenues | $617.0M | 98% |
| Other | $13.0M | 2% |
