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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Public Storage (PSA). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $792.0M, roughly 1.5× Global Business Travel Group, Inc.). Public Storage runs the higher net margin — 41.7% vs 10.5%, a 31.2% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 3.3%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 2.5%).
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, ...
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
GBTG vs PSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $1.2B |
| Net Profit | $83.0M | $507.1M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | 40.7% |
| Net Margin | 10.5% | 41.7% |
| Revenue YoY | 34.0% | 3.3% |
| Net Profit YoY | 692.9% | -17.5% |
| EPS (diluted) | $0.16 | $2.59 |
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 | $1.2B | ||
| Q3 25 | $674.0M | $1.2B | ||
| Q2 25 | $631.0M | $1.2B | ||
| Q1 25 | $621.0M | $1.2B | ||
| Q4 24 | $591.0M | $1.2B | ||
| Q3 24 | $597.0M | $1.2B | ||
| Q2 24 | $625.0M | $1.2B | ||
| Q1 24 | $610.0M | $1.2B |
| Q4 25 | $83.0M | $507.1M | ||
| Q3 25 | $-62.0M | $511.1M | ||
| Q2 25 | $15.0M | $358.4M | ||
| Q1 25 | $75.0M | $407.8M | ||
| Q4 24 | $-14.0M | $614.6M | ||
| Q3 24 | $-128.0M | $430.3M | ||
| Q2 24 | $27.0M | $518.1M | ||
| Q1 24 | $-19.0M | $508.9M |
| Q4 25 | 3.7% | 40.7% | ||
| Q3 25 | 1.8% | 42.3% | ||
| Q2 25 | 5.4% | 30.4% | ||
| Q1 25 | 8.9% | 34.8% | ||
| Q4 24 | 5.1% | 52.4% | ||
| Q3 24 | 4.5% | 36.7% | ||
| Q2 24 | 6.7% | 44.6% | ||
| Q1 24 | 2.6% | 44.3% |
| Q4 25 | 10.5% | 41.7% | ||
| Q3 25 | -9.2% | 41.8% | ||
| Q2 25 | 2.4% | 29.8% | ||
| Q1 25 | 12.1% | 34.5% | ||
| Q4 24 | -2.4% | 52.2% | ||
| Q3 24 | -21.4% | 36.2% | ||
| Q2 24 | 4.3% | 44.2% | ||
| Q1 24 | -3.1% | 44.0% |
| Q4 25 | $0.16 | $2.59 | ||
| Q3 25 | $-0.13 | $2.62 | ||
| Q2 25 | $0.03 | $1.76 | ||
| Q1 25 | $0.16 | $2.04 | ||
| Q4 24 | $-0.04 | $3.22 | ||
| Q3 24 | $-0.28 | $2.16 | ||
| Q2 24 | $0.06 | $2.66 | ||
| Q1 24 | $-0.04 | $2.60 |
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 | $318.1M |
| Total DebtLower is stronger | $1.4B | $10.3B |
| Stockholders' EquityBook value | $1.6B | $9.2B |
| Total Assets | $4.9B | $20.2B |
| Debt / EquityLower = less leverage | 0.88× | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $318.1M | ||
| Q3 25 | $427.0M | $296.5M | ||
| Q2 25 | $601.0M | $1.1B | ||
| Q1 25 | $552.0M | $287.2M | ||
| Q4 24 | $536.0M | $447.4M | ||
| Q3 24 | $524.0M | $599.0M | ||
| Q2 24 | $515.0M | $542.3M | ||
| Q1 24 | $475.0M | $271.6M |
| Q4 25 | $1.4B | $10.3B | ||
| Q3 25 | $1.4B | $10.0B | ||
| Q2 25 | $1.4B | $10.4B | ||
| Q1 25 | $1.4B | $9.4B | ||
| Q4 24 | $1.4B | $9.4B | ||
| Q3 24 | $1.4B | $9.5B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $9.1B |
| Q4 25 | $1.6B | $9.2B | ||
| Q3 25 | $1.5B | $9.3B | ||
| Q2 25 | $1.2B | $9.4B | ||
| Q1 25 | $1.1B | $9.6B | ||
| Q4 24 | $1.1B | $9.7B | ||
| Q3 24 | $1.1B | $9.6B | ||
| Q2 24 | $1.2B | $9.7B | ||
| Q1 24 | $1.2B | $9.9B |
| Q4 25 | $4.9B | $20.2B | ||
| Q3 25 | $4.8B | $20.1B | ||
| Q2 25 | $3.9B | $20.5B | ||
| Q1 25 | $3.8B | $19.6B | ||
| Q4 24 | $3.6B | $19.8B | ||
| Q3 24 | $3.8B | $19.8B | ||
| Q2 24 | $3.8B | $19.8B | ||
| Q1 24 | $3.8B | $19.6B |
| Q4 25 | 0.88× | 1.11× | ||
| Q3 25 | 0.91× | 1.08× | ||
| Q2 25 | 1.15× | 1.11× | ||
| Q1 25 | 1.23× | 0.99× | ||
| Q4 24 | 1.32× | 0.96× | ||
| Q3 24 | 1.26× | 0.99× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 0.91× |
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 | $733.6M |
| Free Cash FlowOCF − Capex | $13.0M | — |
| FCF MarginFCF / Revenue | 1.6% | — |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | 0.63× | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $733.6M | ||
| Q3 25 | $71.0M | $875.1M | ||
| Q2 25 | $57.0M | $872.7M | ||
| Q1 25 | $53.0M | $705.1M | ||
| Q4 24 | $65.0M | $768.6M | ||
| Q3 24 | $85.0M | $798.8M | ||
| Q2 24 | $73.0M | $895.3M | ||
| Q1 24 | $49.0M | $665.6M |
| 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 24 | $24.0M | — |
| 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 24 | 3.9% | — |
| 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 24 | 4.1% | — |
| Q4 25 | 0.63× | 1.45× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | 3.80× | 2.43× | ||
| Q1 25 | 0.71× | 1.73× | ||
| Q4 24 | — | 1.25× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | 2.70× | 1.73× | ||
| Q1 24 | — | 1.31× |
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% |
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
