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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and RLI CORP (RLI). 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 $465.7M, roughly 1.7× RLI CORP). RLI CORP runs the higher net margin — 19.6% vs 10.5%, a 9.1% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 6.1%). RLI CORP produced more free cash flow last quarter ($155.0M vs $13.0M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 2.3%).
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, ...
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
GBTG vs RLI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $465.7M |
| Net Profit | $83.0M | $91.2M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | 24.4% |
| Net Margin | 10.5% | 19.6% |
| Revenue YoY | 34.0% | 6.1% |
| Net Profit YoY | 692.9% | 123.1% |
| EPS (diluted) | $0.16 | $1.00 |
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 | $465.7M | ||
| Q3 25 | $674.0M | $509.3M | ||
| Q2 25 | $631.0M | $499.8M | ||
| Q1 25 | $621.0M | $407.7M | ||
| Q4 24 | $591.0M | $439.1M | ||
| Q3 24 | $597.0M | $470.0M | ||
| Q2 24 | $625.0M | $416.4M | ||
| Q1 24 | $610.0M | $444.8M |
| Q4 25 | $83.0M | $91.2M | ||
| Q3 25 | $-62.0M | $124.6M | ||
| Q2 25 | $15.0M | $124.3M | ||
| Q1 25 | $75.0M | $63.2M | ||
| Q4 24 | $-14.0M | $40.9M | ||
| Q3 24 | $-128.0M | $95.0M | ||
| Q2 24 | $27.0M | $82.0M | ||
| Q1 24 | $-19.0M | $127.9M |
| Q4 25 | 3.7% | 24.4% | ||
| Q3 25 | 1.8% | 30.9% | ||
| Q2 25 | 5.4% | 31.3% | ||
| Q1 25 | 8.9% | 19.3% | ||
| Q4 24 | 5.1% | 10.8% | ||
| Q3 24 | 4.5% | 24.9% | ||
| Q2 24 | 6.7% | 24.8% | ||
| Q1 24 | 2.6% | 36.0% |
| Q4 25 | 10.5% | 19.6% | ||
| Q3 25 | -9.2% | 24.5% | ||
| Q2 25 | 2.4% | 24.9% | ||
| Q1 25 | 12.1% | 15.5% | ||
| Q4 24 | -2.4% | 9.3% | ||
| Q3 24 | -21.4% | 20.2% | ||
| Q2 24 | 4.3% | 19.7% | ||
| Q1 24 | -3.1% | 28.8% |
| Q4 25 | $0.16 | $1.00 | ||
| Q3 25 | $-0.13 | $1.35 | ||
| Q2 25 | $0.03 | $1.34 | ||
| Q1 25 | $0.16 | $0.68 | ||
| Q4 24 | $-0.04 | $-2.87 | ||
| Q3 24 | $-0.28 | $2.06 | ||
| Q2 24 | $0.06 | $1.78 | ||
| Q1 24 | $-0.04 | $2.77 |
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 | $1.8B |
| Total Assets | $4.9B | $6.2B |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | — | ||
| Q3 25 | $427.0M | — | ||
| Q2 25 | $601.0M | — | ||
| Q1 25 | $552.0M | — | ||
| Q4 24 | $536.0M | — | ||
| Q3 24 | $524.0M | — | ||
| Q2 24 | $515.0M | — | ||
| Q1 24 | $475.0M | — |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $100.0M | ||
| Q2 25 | $1.4B | $100.0M | ||
| Q1 25 | $1.4B | $100.0M | ||
| Q4 24 | $1.4B | $100.0M | ||
| Q3 24 | $1.4B | $100.0M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | — | $100.0M |
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.5B | $1.9B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.2B | $1.5B |
| Q4 25 | $4.9B | $6.2B | ||
| Q3 25 | $4.8B | $6.2B | ||
| Q2 25 | $3.9B | $6.0B | ||
| Q1 25 | $3.8B | $5.7B | ||
| Q4 24 | $3.6B | $5.6B | ||
| Q3 24 | $3.8B | $5.8B | ||
| Q2 24 | $3.8B | $5.5B | ||
| Q1 24 | $3.8B | $5.3B |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 0.91× | 0.05× | ||
| Q2 25 | 1.15× | 0.06× | ||
| Q1 25 | 1.23× | 0.06× | ||
| Q4 24 | 1.32× | 0.07× | ||
| Q3 24 | 1.26× | 0.06× | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | 0.07× |
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 | $156.8M |
| Free Cash FlowOCF − Capex | $13.0M | $155.0M |
| FCF MarginFCF / Revenue | 1.6% | 33.3% |
| Capex IntensityCapex / Revenue | 4.9% | 0.4% |
| Cash ConversionOCF / Net Profit | 0.63× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $608.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $156.8M | ||
| Q3 25 | $71.0M | $179.2M | ||
| Q2 25 | $57.0M | $174.7M | ||
| Q1 25 | $53.0M | $103.5M | ||
| Q4 24 | $65.0M | $128.1M | ||
| Q3 24 | $85.0M | $219.4M | ||
| Q2 24 | $73.0M | $141.8M | ||
| Q1 24 | $49.0M | $70.9M |
| Q4 25 | $13.0M | $155.0M | ||
| Q3 25 | $38.0M | $177.8M | ||
| Q2 25 | $27.0M | $173.4M | ||
| Q1 25 | $26.0M | $102.5M | ||
| Q4 24 | $33.0M | $127.6M | ||
| Q3 24 | $59.0M | $219.0M | ||
| Q2 24 | $49.0M | $139.1M | ||
| Q1 24 | $24.0M | $69.9M |
| Q4 25 | 1.6% | 33.3% | ||
| Q3 25 | 5.6% | 34.9% | ||
| Q2 25 | 4.3% | 34.7% | ||
| Q1 25 | 4.2% | 25.1% | ||
| Q4 24 | 5.6% | 29.0% | ||
| Q3 24 | 9.9% | 46.6% | ||
| Q2 24 | 7.8% | 33.4% | ||
| Q1 24 | 3.9% | 15.7% |
| Q4 25 | 4.9% | 0.4% | ||
| Q3 25 | 4.9% | 0.3% | ||
| Q2 25 | 4.8% | 0.3% | ||
| Q1 25 | 4.3% | 0.3% | ||
| Q4 24 | 5.4% | 0.1% | ||
| Q3 24 | 4.4% | 0.1% | ||
| Q2 24 | 3.8% | 0.7% | ||
| Q1 24 | 4.1% | 0.2% |
| Q4 25 | 0.63× | 1.72× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | 3.80× | 1.41× | ||
| Q1 25 | 0.71× | 1.64× | ||
| Q4 24 | — | 3.13× | ||
| Q3 24 | — | 2.31× | ||
| Q2 24 | 2.70× | 1.73× | ||
| Q1 24 | — | 0.55× |
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% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
