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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and StoneX Group Inc. (SNEX). Click either name above to swap in a different company.
StoneX Group Inc. is the larger business by last-quarter revenue ($1.2B vs $792.0M, roughly 1.5× Global Business Travel Group, Inc.). StoneX Group Inc. runs the higher net margin — 11.6% vs 10.5%, a 1.1% gap on every dollar of revenue. On growth, StoneX Group Inc. posted the faster year-over-year revenue change (81.0% vs 34.0%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-1.3B). Over the past eight quarters, StoneX Group Inc.'s revenue compounded faster (53.5% 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, ...
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
GBTG vs SNEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $1.2B |
| Net Profit | $83.0M | $139.0M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | 15.4% |
| Net Margin | 10.5% | 11.6% |
| Revenue YoY | 34.0% | 81.0% |
| Net Profit YoY | 692.9% | 63.3% |
| EPS (diluted) | $0.16 | $2.50 |
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 | $32.7B | ||
| Q2 25 | $631.0M | $851.2M | ||
| Q1 25 | $621.0M | $820.4M | ||
| Q4 24 | $591.0M | $663.1M | ||
| Q3 24 | $597.0M | $31.1B | ||
| Q2 24 | $625.0M | $571.8M | ||
| Q1 24 | $610.0M | $509.2M |
| Q4 25 | $83.0M | $139.0M | ||
| Q3 25 | $-62.0M | $85.7M | ||
| Q2 25 | $15.0M | $63.4M | ||
| Q1 25 | $75.0M | $71.7M | ||
| Q4 24 | $-14.0M | $85.1M | ||
| Q3 24 | $-128.0M | $76.7M | ||
| Q2 24 | $27.0M | $61.9M | ||
| Q1 24 | $-19.0M | $53.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 3.7% | 15.4% | ||
| Q3 25 | 1.8% | 0.3% | ||
| Q2 25 | 5.4% | -1.3% | ||
| Q1 25 | 8.9% | -1.0% | ||
| Q4 24 | 5.1% | -3.2% | ||
| Q3 24 | 4.5% | -0.0% | ||
| Q2 24 | 6.7% | -4.7% | ||
| Q1 24 | 2.6% | -2.5% |
| Q4 25 | 10.5% | 11.6% | ||
| Q3 25 | -9.2% | 0.3% | ||
| Q2 25 | 2.4% | 7.4% | ||
| Q1 25 | 12.1% | 8.7% | ||
| Q4 24 | -2.4% | 12.8% | ||
| Q3 24 | -21.4% | 0.2% | ||
| Q2 24 | 4.3% | 10.8% | ||
| Q1 24 | -3.1% | 10.4% |
| Q4 25 | $0.16 | $2.50 | ||
| Q3 25 | $-0.13 | $0.72 | ||
| Q2 25 | $0.03 | $1.22 | ||
| Q1 25 | $0.16 | $1.41 | ||
| Q4 24 | $-0.04 | $1.69 | ||
| Q3 24 | $-0.28 | $2.32 | ||
| Q2 24 | $0.06 | $1.25 | ||
| Q1 24 | $-0.04 | $1.09 |
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 | $1.6B |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $1.6B | $2.5B |
| Total Assets | $4.9B | $47.8B |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $1.6B | ||
| Q3 25 | $427.0M | $1.6B | ||
| Q2 25 | $601.0M | $1.3B | ||
| Q1 25 | $552.0M | $1.3B | ||
| Q4 24 | $536.0M | $1.4B | ||
| Q3 24 | $524.0M | $1.3B | ||
| Q2 24 | $515.0M | $1.2B | ||
| Q1 24 | $475.0M | $1.3B |
| 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 | $2.5B | ||
| Q3 25 | $1.5B | $2.4B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.2B | $1.5B |
| Q4 25 | $4.9B | $47.8B | ||
| Q3 25 | $4.8B | $45.3B | ||
| Q2 25 | $3.9B | $34.3B | ||
| Q1 25 | $3.8B | $31.3B | ||
| Q4 24 | $3.6B | $29.6B | ||
| Q3 24 | $3.8B | $27.5B | ||
| Q2 24 | $3.8B | $25.9B | ||
| Q1 24 | $3.8B | $25.7B |
| 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 | $-1.3B |
| Free Cash FlowOCF − Capex | $13.0M | $-1.3B |
| FCF MarginFCF / Revenue | 1.6% | -106.4% |
| Capex IntensityCapex / Revenue | 4.9% | 1.3% |
| Cash ConversionOCF / Net Profit | 0.63× | -9.08× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $-1.3B | ||
| Q3 25 | $71.0M | $3.5B | ||
| Q2 25 | $57.0M | $1.5B | ||
| Q1 25 | $53.0M | $-154.5M | ||
| Q4 24 | $65.0M | $-477.8M | ||
| Q3 24 | $85.0M | $192.6M | ||
| Q2 24 | $73.0M | $-622.1M | ||
| Q1 24 | $49.0M | $784.0M |
| Q4 25 | $13.0M | $-1.3B | ||
| Q3 25 | $38.0M | $3.5B | ||
| Q2 25 | $27.0M | $1.5B | ||
| Q1 25 | $26.0M | $-169.8M | ||
| Q4 24 | $33.0M | $-491.4M | ||
| Q3 24 | $59.0M | $175.9M | ||
| Q2 24 | $49.0M | $-640.5M | ||
| Q1 24 | $24.0M | $766.6M |
| Q4 25 | 1.6% | -106.4% | ||
| Q3 25 | 5.6% | 10.7% | ||
| Q2 25 | 4.3% | 173.3% | ||
| Q1 25 | 4.2% | -20.7% | ||
| Q4 24 | 5.6% | -74.1% | ||
| Q3 24 | 9.9% | 0.6% | ||
| Q2 24 | 7.8% | -112.0% | ||
| Q1 24 | 3.9% | 150.5% |
| Q4 25 | 4.9% | 1.3% | ||
| Q3 25 | 4.9% | 0.1% | ||
| Q2 25 | 4.8% | 1.9% | ||
| Q1 25 | 4.3% | 1.9% | ||
| Q4 24 | 5.4% | 2.1% | ||
| Q3 24 | 4.4% | 0.1% | ||
| Q2 24 | 3.8% | 3.2% | ||
| Q1 24 | 4.1% | 3.4% |
| Q4 25 | 0.63× | -9.08× | ||
| Q3 25 | — | 41.18× | ||
| Q2 25 | 3.80× | 23.52× | ||
| Q1 25 | 0.71× | -2.15× | ||
| Q4 24 | — | -5.61× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | 2.70× | -10.05× | ||
| Q1 24 | — | 14.76× |
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% |
SNEX
Segment breakdown not available.
