Airbnb, Inc.ABNB
NasdaqGS•Consumer Cyclical•Travel Services
Airbnb, Inc., together with its subsidiaries, operates a platform for stays, experiences, and services worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces, experiences, and services. It also offers gift cards. The company was formerly known as AirBed & Breakfast, Inc. and changed its name to Airbnb, Inc. in November 2010. Airbnb, Inc. was founded in 2007 and is headquartered in San Francisco, California.
Airbnb, Inc. (ABNB) reported trailing twelve months revenue of $12.65B as of March 2026, a 12.6% increase year-over-year. Quarterly revenue reached $2.68B, reflecting continued top-line momentum.
Airbnb, Inc. generated $2.52B in TTM net income, with quarterly EBITDA of $86.00M. The operating margin expanded from 1.7% to 3.2%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (3.2%) and net margin (6.0%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 6.8% a year ago, reflecting increased costs or interest expense.
ABNB trades at a P/E of 29.2x (in line with broad market averages) and a P/S of 5.8x. The price-to-book ratio of 9.6x indicates a significant premium over book value.
The company generated $1.71B in free cash flow over the trailing twelve months, a 4.5% decrease year-over-year, indicating cash generation ability. The balance sheet shows $26.83B in total assets with $2.48B in long-term debt against $7.64B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~18.8% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 34.2% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~20.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 7.2% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 3.8x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 30.1% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 5.8% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation