ABNB

Company financials

Airbnb

Consumer Discretionary Hotels, Resorts & Cruise Lines San Francisco, California Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$12.2B
                    3y CAGR +13.4%
                    
                    P82
                    
                    +10.3%
                    
                    Net income
                    FY2025
                
$2.5B
                    Net margin +20.5%
                    
                    P94
                    
                    -5.2%
                    
                    Total assets
                    FY2025
                
$22.2B
                    ROA +11.3%
                    
                    P62
                    
                    +6.0%
                    
                    Operating cash flow
                    FY2025
                
$4.6B
                    
                    +2.8%

7 yrs · FY2019–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 3 years

Total assets $22.2B

Total liabilities $14.0B

Shareholders equity $8.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	60.7%	60.9%	61.4%
Short Term Investments	20.1%	17.9%	15.5%
Accounts Receivable	1.0%	0.8%	1.2%
Prepaid Expenses	3.7%	3.0%	2.8%
Other Current Assets	3.7%	3.0%	2.8%
Total Current Assets	84.6%	82.0%	80.0%
Property,Plant and Equipment	0.0%	0.7%	0.8%
Goodwill	0.0%	3.6%	3.6%
Intangible Assets	0.0%	0.1%	0.2%
Long Term Investments	0.2%	0.2%	0.0%
Deferred Tax Assets	9.5%	11.6%	14.0%
Other Noncurrent Assets	2.4%	2.7%	2.2%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	1.0%	0.7%	0.7%
Accrued Liabilities	4.2%	4.1%	4.3%
Deferred Revenue	7.8%	7.7%	6.9%
Current Portion of Long Term Debt	9.0%	—	—
Operating Lease Liabilities	0.3%	0.3%	0.3%
Other Current Liabilities	1.6%	1.9%	1.4%
Total Current Liabilities	61.5%	48.5%	48.2%
Long Term Debt	0.0%	9.5%	9.6%
Deferred Revenue Noncurrent	7.8%	7.7%	6.9%
Deferred Tax Liabilities	0.0%	0.1%	0.1%
Other Noncurrent Liabilities	1.6%	1.9%	1.4%
Total Liabilities	63.1%	59.9%	60.5%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	62.0%	60.1%	56.4%
Retained Earnings	-24.8%	-20.2%	-16.6%
Accumulated Other Comprehensive Income	-0.3%	0.2%	-0.2%
Total Stockholders Equity	36.9%	40.1%	39.5%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 3 years

Revenue $12.2B

Operating income $2.5B

Net income $2.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	55.1%	53.0%	48.0%
Expenses Cost of Revenue	9.4%	9.0%	8.2%
Expenses Research and Development	10.6%	9.8%	8.3%
Expenses Selling,General and Administrative	6.0%	5.7%	9.8%
Expenses Share Based Compensation	7.2%	6.7%	5.4%
Expenses Operating Expenses	43.7%	40.8%	40.7%
Other Income Expense Operating Income	11.5%	12.2%	7.4%
Other Income Expense Interest Income	3.2%	3.9%	3.5%
Other Income Expense Other Income/expense	-0.5%	-0.2%	-0.7%
Other Income Expense Income Before Tax	14.1%	15.9%	10.2%
Income Tax Income Tax Expense	2.8%	3.3%	-13.0%
net Income net Income	11.3%	12.6%	23.2%
net Income Comprehensive Income	10.9%	13.0%	23.1%
Earnings Per Share Weighted Average Shares Basic	2.8%	3.0%	3.1%
Earnings Per Share Weighted Average Shares Diluted	2.8%	3.1%	3.2%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $4.6B

Investing cash flow $-748.0M

Financing cash flow $-3.8B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	11.3%	12.6%	23.2%
Operating Activities Depreciation and Amortization	0.1%	0.1%	0.1%
Operating Activities Stock Based Compensation	7.2%	6.7%	5.3%
Operating Activities Deferred Income Taxes	1.7%	2.1%	-13.9%
Operating Activities Changes In Operating Assets and Liabilities	2.6%	1.2%	4.5%
Operating Activities Other Non Cash Items	1.2%	0.5%	0.6%
Operating Activities net Cash From Operating Activities	20.9%	21.6%	18.8%
Investing Activities Proceeds From Sale of Investments	12.3%	12.4%	11.5%
Investing Activities Other Investing Activities	0.2%	0.4%	0.6%
Investing Activities net Cash From Investing Activities	-3.4%	-2.9%	-5.0%
Financing Activities Repurchase of Common Stock	17.1%	16.4%	10.9%
Financing Activities Proceeds From Stock Issuance	0.5%	0.8%	0.5%
Financing Activities Tax Withholding On Stock Based Compensation	2.5%	3.0%	5.9%
Financing Activities Other Financing Activities	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-17.2%	-17.0%	-11.8%
Cash Reconciliation Effect of Exchange Rate On Cash	2.9%	-1.1%	0.7%
Cash Reconciliation net Change In Cash	3.3%	0.4%	2.7%
Cash Reconciliation Cash At Beginning of Period	60.7%	60.9%	61.4%
Cash Reconciliation Cash At End of Period	60.7%	60.9%	61.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+83.0%	+83.1%	+82.8%
Operating margin	+20.8%	+23.0%	+15.3%
Net margin	+20.5%	+23.9%	+48.3%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+13.4%	+22.8%	+43.2%
Returns
ROE	+30.6%	+31.5%	+58.7%
ROA	+11.3%	+12.6%	+23.2%
ROIC	-61.9%	-86.3%	-60.5%
Liquidity
Current ratio	1.38x	1.69x	1.66x
Quick ratio	1.00x	1.27x	1.30x
Leverage
D/E	1.71x	1.49x	1.53x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.55x	0.53x	0.48x
Cash conversion cycle	—	—	—

Valuation

Price against fundamentals

ABNB $121 · 2025-09-30 · 350d old · FY2025

Market cap $75.6B

P/E 30.13x

P/S 6.18x

P/B 9.23x

EV $64.2B

EV/EBITDA —

FCF yield —

Dividend yield —

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Airbnb

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Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

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