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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Wendy's Co (WEN). 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 $543.0M, roughly 1.5× Wendy's Co). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 4.9%, a 5.6% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs -5.5%). Wendy's Co produced more free cash flow last quarter ($31.4M vs $13.0M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 0.8%).
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, ...
The Wendy's Company is an American fast food corporation and the holding company for Wendy's and First Kitchen. Originally founded as the Deisel-Wemmer Company, it is headquartered in Dublin, Ohio. The company's principal subsidiary, Wendy's International, is the franchisor of Wendy's restaurants.
GBTG vs WEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $543.0M |
| Net Profit | $83.0M | $26.5M |
| Gross Margin | — | 62.7% |
| Operating Margin | 3.7% | 11.8% |
| Net Margin | 10.5% | 4.9% |
| Revenue YoY | 34.0% | -5.5% |
| Net Profit YoY | 692.9% | -44.2% |
| EPS (diluted) | $0.16 | $0.14 |
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 | $543.0M | ||
| Q3 25 | $674.0M | $549.5M | ||
| Q2 25 | $631.0M | $560.9M | ||
| Q1 25 | $621.0M | $523.5M | ||
| Q4 24 | $591.0M | $574.3M | ||
| Q3 24 | $597.0M | $566.7M | ||
| Q2 24 | $625.0M | $570.7M | ||
| Q1 24 | $610.0M | $534.8M |
| Q4 25 | $83.0M | $26.5M | ||
| Q3 25 | $-62.0M | $44.3M | ||
| Q2 25 | $15.0M | $55.1M | ||
| Q1 25 | $75.0M | $39.2M | ||
| Q4 24 | $-14.0M | $47.5M | ||
| Q3 24 | $-128.0M | $50.2M | ||
| Q2 24 | $27.0M | $54.6M | ||
| Q1 24 | $-19.0M | $42.0M |
| Q4 25 | — | 62.7% | ||
| Q3 25 | — | 62.8% | ||
| Q2 25 | — | 65.0% | ||
| Q1 25 | — | 64.1% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 65.5% | ||
| Q2 24 | — | 65.0% | ||
| Q1 24 | — | 64.1% |
| Q4 25 | 3.7% | 11.8% | ||
| Q3 25 | 1.8% | 16.8% | ||
| Q2 25 | 5.4% | 18.6% | ||
| Q1 25 | 8.9% | 15.9% | ||
| Q4 24 | 5.1% | 16.7% | ||
| Q3 24 | 4.5% | 16.7% | ||
| Q2 24 | 6.7% | 17.4% | ||
| Q1 24 | 2.6% | 15.2% |
| Q4 25 | 10.5% | 4.9% | ||
| Q3 25 | -9.2% | 8.1% | ||
| Q2 25 | 2.4% | 9.8% | ||
| Q1 25 | 12.1% | 7.5% | ||
| Q4 24 | -2.4% | 8.3% | ||
| Q3 24 | -21.4% | 8.9% | ||
| Q2 24 | 4.3% | 9.6% | ||
| Q1 24 | -3.1% | 7.9% |
| Q4 25 | $0.16 | $0.14 | ||
| Q3 25 | $-0.13 | $0.23 | ||
| Q2 25 | $0.03 | $0.29 | ||
| Q1 25 | $0.16 | $0.19 | ||
| Q4 24 | $-0.04 | $0.23 | ||
| Q3 24 | $-0.28 | $0.25 | ||
| Q2 24 | $0.06 | $0.27 | ||
| Q1 24 | $-0.04 | $0.20 |
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 | $300.8M |
| Total DebtLower is stronger | $1.4B | $2.8B |
| Stockholders' EquityBook value | $1.6B | $117.4M |
| Total Assets | $4.9B | $5.0B |
| Debt / EquityLower = less leverage | 0.88× | 23.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $300.8M | ||
| Q3 25 | $427.0M | $291.4M | ||
| Q2 25 | $601.0M | $281.2M | ||
| Q1 25 | $552.0M | $335.3M | ||
| Q4 24 | $536.0M | $450.5M | ||
| Q3 24 | $524.0M | $482.2M | ||
| Q2 24 | $515.0M | $465.5M | ||
| Q1 24 | $475.0M | $498.3M |
| Q4 25 | $1.4B | $2.8B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $1.4B | $2.7B | ||
| Q1 25 | $1.4B | $2.7B | ||
| Q4 24 | $1.4B | $2.7B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $117.4M | ||
| Q3 25 | $1.5B | $109.2M | ||
| Q2 25 | $1.2B | $112.9M | ||
| Q1 25 | $1.1B | $130.2M | ||
| Q4 24 | $1.1B | $259.4M | ||
| Q3 24 | $1.1B | $259.9M | ||
| Q2 24 | $1.2B | $273.8M | ||
| Q1 24 | $1.2B | $293.7M |
| Q4 25 | $4.9B | $5.0B | ||
| Q3 25 | $4.8B | $5.0B | ||
| Q2 25 | $3.9B | $4.9B | ||
| Q1 25 | $3.8B | $4.9B | ||
| Q4 24 | $3.6B | $5.0B | ||
| Q3 24 | $3.8B | $5.1B | ||
| Q2 24 | $3.8B | $5.1B | ||
| Q1 24 | $3.8B | $5.2B |
| Q4 25 | 0.88× | 23.51× | ||
| Q3 25 | 0.91× | 24.95× | ||
| Q2 25 | 1.15× | 24.18× | ||
| Q1 25 | 1.23× | 21.00× | ||
| Q4 24 | 1.32× | 10.57× | ||
| 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 | $69.3M |
| Free Cash FlowOCF − Capex | $13.0M | $31.4M |
| FCF MarginFCF / Revenue | 1.6% | 5.8% |
| Capex IntensityCapex / Revenue | 4.9% | 7.0% |
| Cash ConversionOCF / Net Profit | 0.63× | 2.62× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $242.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $69.3M | ||
| Q3 25 | $71.0M | $129.3M | ||
| Q2 25 | $57.0M | $60.6M | ||
| Q1 25 | $53.0M | $85.4M | ||
| Q4 24 | $65.0M | $68.6M | ||
| Q3 24 | $85.0M | $141.2M | ||
| Q2 24 | $73.0M | $45.5M | ||
| Q1 24 | $49.0M | $100.0M |
| Q4 25 | $13.0M | $31.4M | ||
| Q3 25 | $38.0M | $104.3M | ||
| Q2 25 | $27.0M | $39.2M | ||
| Q1 25 | $26.0M | $67.7M | ||
| Q4 24 | $33.0M | $26.6M | ||
| Q3 24 | $59.0M | $123.3M | ||
| Q2 24 | $49.0M | $28.4M | ||
| Q1 24 | $24.0M | $82.6M |
| Q4 25 | 1.6% | 5.8% | ||
| Q3 25 | 5.6% | 19.0% | ||
| Q2 25 | 4.3% | 7.0% | ||
| Q1 25 | 4.2% | 12.9% | ||
| Q4 24 | 5.6% | 4.6% | ||
| Q3 24 | 9.9% | 21.8% | ||
| Q2 24 | 7.8% | 5.0% | ||
| Q1 24 | 3.9% | 15.5% |
| Q4 25 | 4.9% | 7.0% | ||
| Q3 25 | 4.9% | 4.5% | ||
| Q2 25 | 4.8% | 3.8% | ||
| Q1 25 | 4.3% | 3.4% | ||
| Q4 24 | 5.4% | 7.3% | ||
| Q3 24 | 4.4% | 3.2% | ||
| Q2 24 | 3.8% | 3.0% | ||
| Q1 24 | 4.1% | 3.2% |
| Q4 25 | 0.63× | 2.62× | ||
| Q3 25 | — | 2.92× | ||
| Q2 25 | 3.80× | 1.10× | ||
| Q1 25 | 0.71× | 2.18× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 2.81× | ||
| Q2 24 | 2.70× | 0.83× | ||
| Q1 24 | — | 2.38× |
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% |
WEN
| Franchise Royalty Revenueand Fees | $149.3M | 27% |
| Royalty | $103.6M | 19% |
| Advertising | $103.3M | 19% |
| Global Real Estate Development | $60.5M | 11% |
| Real Estate | $59.5M | 11% |
| Wendys International | $39.5M | 7% |
| Franchise | $21.5M | 4% |
