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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and RH (RH). Click either name above to swap in a different company.
RH is the larger business by last-quarter revenue ($883.8M vs $792.0M, roughly 1.1× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 4.1%, a 6.4% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 8.9%). RH produced more free cash flow last quarter ($83.0M vs $13.0M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 9.4%).
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, ...
RH is an upscale American home-furnishings company headquartered in Corte Madera, California. The company sells its merchandise through its retail stores, catalog, and online. As of August 2018, the company operated a total of 70 galleries, 18 full-line design galleries, and 3 baby-and-child galleries. The company also has 36 outlet stores in the United States and Canada.
GBTG vs RH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $883.8M |
| Net Profit | $83.0M | $36.3M |
| Gross Margin | — | 44.1% |
| Operating Margin | 3.7% | 12.0% |
| Net Margin | 10.5% | 4.1% |
| Revenue YoY | 34.0% | 8.9% |
| Net Profit YoY | 692.9% | 9.3% |
| EPS (diluted) | $0.16 | $1.83 |
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 | $883.8M | ||
| Q3 25 | $674.0M | $899.2M | ||
| Q2 25 | $631.0M | $814.0M | ||
| Q1 25 | $621.0M | $812.4M | ||
| Q4 24 | $591.0M | $811.7M | ||
| Q3 24 | $597.0M | $829.7M | ||
| Q2 24 | $625.0M | $727.0M | ||
| Q1 24 | $610.0M | $738.3M |
| Q4 25 | $83.0M | $36.3M | ||
| Q3 25 | $-62.0M | $51.7M | ||
| Q2 25 | $15.0M | $8.0M | ||
| Q1 25 | $75.0M | $13.9M | ||
| Q4 24 | $-14.0M | $33.2M | ||
| Q3 24 | $-128.0M | $29.0M | ||
| Q2 24 | $27.0M | $-3.6M | ||
| Q1 24 | $-19.0M | $11.4M |
| Q4 25 | — | 44.1% | ||
| Q3 25 | — | 45.5% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 44.7% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.5% | ||
| Q1 24 | — | 43.5% |
| Q4 25 | 3.7% | 12.0% | ||
| Q3 25 | 1.8% | 14.3% | ||
| Q2 25 | 5.4% | 6.9% | ||
| Q1 25 | 8.9% | 8.7% | ||
| Q4 24 | 5.1% | 12.5% | ||
| Q3 24 | 4.5% | 11.6% | ||
| Q2 24 | 6.7% | 7.5% | ||
| Q1 24 | 2.6% | 8.7% |
| Q4 25 | 10.5% | 4.1% | ||
| Q3 25 | -9.2% | 5.8% | ||
| Q2 25 | 2.4% | 1.0% | ||
| Q1 25 | 12.1% | 1.7% | ||
| Q4 24 | -2.4% | 4.1% | ||
| Q3 24 | -21.4% | 3.5% | ||
| Q2 24 | 4.3% | -0.5% | ||
| Q1 24 | -3.1% | 1.5% |
| Q4 25 | $0.16 | $1.83 | ||
| Q3 25 | $-0.13 | $2.62 | ||
| Q2 25 | $0.03 | $0.40 | ||
| Q1 25 | $0.16 | $0.71 | ||
| Q4 24 | $-0.04 | $1.66 | ||
| Q3 24 | $-0.28 | $1.45 | ||
| Q2 24 | $0.06 | $-0.20 | ||
| Q1 24 | $-0.04 | $0.91 |
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 | $43.1M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $1.6B | $3.3M |
| Total Assets | $4.9B | $4.8B |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $43.1M | ||
| Q3 25 | $427.0M | $34.6M | ||
| Q2 25 | $601.0M | $46.1M | ||
| Q1 25 | $552.0M | $30.4M | ||
| Q4 24 | $536.0M | $87.0M | ||
| Q3 24 | $524.0M | $78.3M | ||
| Q2 24 | $515.0M | $101.8M | ||
| Q1 24 | $475.0M | $123.7M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $3.3M | ||
| Q3 25 | $1.5B | $-40.9M | ||
| Q2 25 | $1.2B | $-110.8M | ||
| Q1 25 | $1.1B | $-163.6M | ||
| Q4 24 | $1.1B | $-183.0M | ||
| Q3 24 | $1.1B | $-234.7M | ||
| Q2 24 | $1.2B | $-289.9M | ||
| Q1 24 | $1.2B | $-297.4M |
| Q4 25 | $4.9B | $4.8B | ||
| Q3 25 | $4.8B | $4.7B | ||
| Q2 25 | $3.9B | $4.7B | ||
| Q1 25 | $3.8B | $4.6B | ||
| Q4 24 | $3.6B | $4.5B | ||
| Q3 24 | $3.8B | $4.4B | ||
| Q2 24 | $3.8B | $4.2B | ||
| Q1 24 | $3.8B | $4.1B |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.26× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $131.9M |
| Free Cash FlowOCF − Capex | $13.0M | $83.0M |
| FCF MarginFCF / Revenue | 1.6% | 9.4% |
| Capex IntensityCapex / Revenue | 4.9% | 5.5% |
| Cash ConversionOCF / Net Profit | 0.63× | 3.64× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $128.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $131.9M | ||
| Q3 25 | $71.0M | $137.7M | ||
| Q2 25 | $57.0M | $86.6M | ||
| Q1 25 | $53.0M | $-18.8M | ||
| Q4 24 | $65.0M | $-31.4M | ||
| Q3 24 | $85.0M | $11.2M | ||
| Q2 24 | $73.0M | $56.1M | ||
| Q1 24 | $49.0M | $-114.0M |
| Q4 25 | $13.0M | $83.0M | ||
| Q3 25 | $38.0M | $80.7M | ||
| Q2 25 | $27.0M | $34.1M | ||
| Q1 25 | $26.0M | $-69.7M | ||
| Q4 24 | $33.0M | $-96.0M | ||
| Q3 24 | $59.0M | $-37.9M | ||
| Q2 24 | $49.0M | $-10.1M | ||
| Q1 24 | $24.0M | $-251.5M |
| Q4 25 | 1.6% | 9.4% | ||
| Q3 25 | 5.6% | 9.0% | ||
| Q2 25 | 4.3% | 4.2% | ||
| Q1 25 | 4.2% | -8.6% | ||
| Q4 24 | 5.6% | -11.8% | ||
| Q3 24 | 9.9% | -4.6% | ||
| Q2 24 | 7.8% | -1.4% | ||
| Q1 24 | 3.9% | -34.1% |
| Q4 25 | 4.9% | 5.5% | ||
| Q3 25 | 4.9% | 6.3% | ||
| Q2 25 | 4.8% | 6.5% | ||
| Q1 25 | 4.3% | 6.3% | ||
| Q4 24 | 5.4% | 8.0% | ||
| Q3 24 | 4.4% | 5.9% | ||
| Q2 24 | 3.8% | 9.1% | ||
| Q1 24 | 4.1% | 18.6% |
| Q4 25 | 0.63× | 3.64× | ||
| Q3 25 | — | 2.66× | ||
| Q2 25 | 3.80× | 10.78× | ||
| Q1 25 | 0.71× | -1.35× | ||
| Q4 24 | — | -0.95× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | 2.70× | — | ||
| Q1 24 | — | -10.01× |
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% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
