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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and RXO, Inc. (RXO). Click either name above to swap in a different company.
RXO, Inc. is the larger business by last-quarter revenue ($1.5B vs $792.0M, roughly 1.9× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs -3.1%, a 13.6% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs -11.9%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-9.0M). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% CAGR vs 13.9%).
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, ...
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
GBTG vs RXO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $1.5B |
| Net Profit | $83.0M | $-46.0M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | -2.9% |
| Net Margin | 10.5% | -3.1% |
| Revenue YoY | 34.0% | -11.9% |
| Net Profit YoY | 692.9% | -84.0% |
| EPS (diluted) | $0.16 | $-0.28 |
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 | $1.5B | ||
| Q3 25 | $674.0M | $1.4B | ||
| Q2 25 | $631.0M | $1.4B | ||
| Q1 25 | $621.0M | $1.4B | ||
| Q4 24 | $591.0M | $1.7B | ||
| Q3 24 | $597.0M | $1.0B | ||
| Q2 24 | $625.0M | $930.0M | ||
| Q1 24 | $610.0M | $913.0M |
| Q4 25 | $83.0M | $-46.0M | ||
| Q3 25 | $-62.0M | $-14.0M | ||
| Q2 25 | $15.0M | $-9.0M | ||
| Q1 25 | $75.0M | $-31.0M | ||
| Q4 24 | $-14.0M | $-25.0M | ||
| Q3 24 | $-128.0M | $-243.0M | ||
| Q2 24 | $27.0M | $-7.0M | ||
| Q1 24 | $-19.0M | $-15.0M |
| Q4 25 | 3.7% | -2.9% | ||
| Q3 25 | 1.8% | -0.5% | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 8.9% | -2.1% | ||
| Q4 24 | 5.1% | -1.4% | ||
| Q3 24 | 4.5% | -1.9% | ||
| Q2 24 | 6.7% | — | ||
| Q1 24 | 2.6% | -1.3% |
| Q4 25 | 10.5% | -3.1% | ||
| Q3 25 | -9.2% | -1.0% | ||
| Q2 25 | 2.4% | -0.6% | ||
| Q1 25 | 12.1% | -2.2% | ||
| Q4 24 | -2.4% | -1.5% | ||
| Q3 24 | -21.4% | -23.4% | ||
| Q2 24 | 4.3% | -0.8% | ||
| Q1 24 | -3.1% | -1.6% |
| Q4 25 | $0.16 | $-0.28 | ||
| Q3 25 | $-0.13 | $-0.08 | ||
| Q2 25 | $0.03 | $-0.05 | ||
| Q1 25 | $0.16 | $-0.18 | ||
| Q4 24 | $-0.04 | $-0.17 | ||
| Q3 24 | $-0.28 | $-1.81 | ||
| Q2 24 | $0.06 | $-0.06 | ||
| Q1 24 | $-0.04 | $-0.13 |
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 | $17.0M |
| Total DebtLower is stronger | $1.4B | $387.0M |
| Stockholders' EquityBook value | $1.6B | $1.5B |
| Total Assets | $4.9B | $3.3B |
| Debt / EquityLower = less leverage | 0.88× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $17.0M | ||
| Q3 25 | $427.0M | $25.0M | ||
| Q2 25 | $601.0M | $18.0M | ||
| Q1 25 | $552.0M | $16.0M | ||
| Q4 24 | $536.0M | $35.0M | ||
| Q3 24 | $524.0M | $55.0M | ||
| Q2 24 | $515.0M | $7.0M | ||
| Q1 24 | $475.0M | $7.0M |
| Q4 25 | $1.4B | $387.0M | ||
| Q3 25 | $1.4B | $387.0M | ||
| Q2 25 | $1.4B | $387.0M | ||
| Q1 25 | $1.4B | $387.0M | ||
| Q4 24 | $1.4B | $351.0M | ||
| Q3 24 | $1.4B | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
| Q4 25 | $1.6B | $1.5B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.2B | $579.0M | ||
| Q1 24 | $1.2B | $582.0M |
| Q4 25 | $4.9B | $3.3B | ||
| Q3 25 | $4.8B | $3.2B | ||
| Q2 25 | $3.9B | $3.2B | ||
| Q1 25 | $3.8B | $3.3B | ||
| Q4 24 | $3.6B | $3.4B | ||
| Q3 24 | $3.8B | $3.4B | ||
| Q2 24 | $3.8B | $1.8B | ||
| Q1 24 | $3.8B | $1.8B |
| Q4 25 | 0.88× | 0.25× | ||
| Q3 25 | 0.91× | 0.24× | ||
| Q2 25 | 1.15× | 0.24× | ||
| Q1 25 | 1.23× | 0.24× | ||
| Q4 24 | 1.32× | 0.22× | ||
| Q3 24 | 1.26× | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| Free Cash FlowOCF − Capex | $13.0M | $-9.0M |
| FCF MarginFCF / Revenue | 1.6% | -0.6% |
| Capex IntensityCapex / Revenue | 4.9% | 1.1% |
| Cash ConversionOCF / Net Profit | 0.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $7.0M | ||
| Q3 25 | $71.0M | $23.0M | ||
| Q2 25 | $57.0M | $23.0M | ||
| Q1 25 | $53.0M | $-2.0M | ||
| Q4 24 | $65.0M | $-7.0M | ||
| Q3 24 | $85.0M | $-7.0M | ||
| Q2 24 | $73.0M | $-5.0M | ||
| Q1 24 | $49.0M | $7.0M |
| Q4 25 | $13.0M | $-9.0M | ||
| Q3 25 | $38.0M | $9.0M | ||
| Q2 25 | $27.0M | $9.0M | ||
| Q1 25 | $26.0M | $-17.0M | ||
| Q4 24 | $33.0M | $-19.0M | ||
| Q3 24 | $59.0M | $-18.0M | ||
| Q2 24 | $49.0M | $-16.0M | ||
| Q1 24 | $24.0M | $-4.0M |
| Q4 25 | 1.6% | -0.6% | ||
| Q3 25 | 5.6% | 0.6% | ||
| Q2 25 | 4.3% | 0.6% | ||
| Q1 25 | 4.2% | -1.2% | ||
| Q4 24 | 5.6% | -1.1% | ||
| Q3 24 | 9.9% | -1.7% | ||
| Q2 24 | 7.8% | -1.7% | ||
| Q1 24 | 3.9% | -0.4% |
| Q4 25 | 4.9% | 1.1% | ||
| Q3 25 | 4.9% | 1.0% | ||
| Q2 25 | 4.8% | 1.0% | ||
| Q1 25 | 4.3% | 1.0% | ||
| Q4 24 | 5.4% | 0.7% | ||
| Q3 24 | 4.4% | 1.1% | ||
| Q2 24 | 3.8% | 1.2% | ||
| Q1 24 | 4.1% | 1.2% |
| Q4 25 | 0.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.80× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.70× | — | ||
| Q1 24 | — | — |
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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
