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 revenue.

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	110.2%	114.9%	127.7%
Short Term Investments	36.4%	33.8%	32.2%
Accounts Receivable	1.8%	1.6%	2.5%
Prepaid Expenses	6.7%	5.7%	5.7%
Other Current Assets	6.7%	5.7%	5.7%
Total Current Assets	153.6%	154.7%	166.5%
Property,Plant and Equipment	0.0%	1.3%	1.6%
Goodwill	0.0%	6.8%	7.6%
Intangible Assets	0.0%	0.2%	0.4%
Long Term Investments	0.4%	0.4%	0.1%
Deferred Tax Assets	17.2%	22.0%	29.1%
Other Noncurrent Assets	4.4%	5.1%	4.7%
Total Assets	181.4%	188.8%	208.2%
Liabilities
Accounts Payable	1.9%	1.3%	1.4%
Accrued Liabilities	7.5%	7.7%	9.0%
Deferred Revenue	14.2%	14.6%	14.4%
Current Portion of Long Term Debt	16.3%	—	—
Operating Lease Liabilities	0.6%	0.6%	0.6%
Other Current Liabilities	2.9%	3.5%	2.9%
Total Current Liabilities	111.5%	91.5%	100.3%
Long Term Debt	0.0%	18.0%	20.1%
Deferred Revenue Noncurrent	14.2%	14.6%	14.4%
Deferred Tax Liabilities	0.0%	0.2%	0.2%
Other Noncurrent Liabilities	2.9%	3.5%	2.9%
Total Liabilities	114.4%	113.0%	125.8%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	112.4%	113.5%	117.4%
Retained Earnings	-44.9%	-38.1%	-34.5%
Accumulated Other Comprehensive Income	-0.5%	0.3%	-0.5%
Total Stockholders Equity	67.0%	75.8%	82.3%
Total Liabilitiesand Equity	181.4%	188.8%	208.2%

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	100.0%	100.0%	100.0%
Expenses Cost of Revenue	17.0%	16.9%	17.2%
Expenses Research and Development	19.2%	18.5%	17.4%
Expenses Selling,General and Administrative	11.0%	10.7%	20.4%
Expenses Share Based Compensation	13.0%	12.7%	11.3%
Expenses Operating Expenses	79.2%	77.0%	84.7%
Other Income Expense Operating Income	20.8%	23.0%	15.3%
Other Income Expense Interest Income	5.8%	7.4%	7.3%
Other Income Expense Other Income/expense	-0.9%	-0.4%	-1.4%
Other Income Expense Income Before Tax	25.6%	30.0%	21.2%
Income Tax Income Tax Expense	5.1%	6.2%	-27.1%
net Income net Income	20.5%	23.9%	48.3%
net Income Comprehensive Income	19.7%	24.6%	48.1%
Earnings Per Share Weighted Average Shares Basic	5.0%	5.7%	6.4%
Earnings Per Share Weighted Average Shares Diluted	5.1%	5.8%	6.7%

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	20.5%	23.9%	48.3%
Operating Activities Depreciation and Amortization	0.1%	0.1%	0.2%
Operating Activities Stock Based Compensation	13.1%	12.6%	11.1%
Operating Activities Deferred Income Taxes	3.1%	3.9%	-29.0%
Operating Activities Changes In Operating Assets and Liabilities	4.8%	2.3%	9.3%
Operating Activities Other Non Cash Items	2.2%	0.9%	1.3%
Operating Activities net Cash From Operating Activities	38.0%	40.7%	39.2%
Investing Activities Proceeds From Sale of Investments	22.4%	23.5%	24.0%
Investing Activities Other Investing Activities	0.4%	0.7%	1.1%
Investing Activities net Cash From Investing Activities	-6.1%	-5.5%	-10.5%
Financing Activities Repurchase of Common Stock	31.0%	30.9%	22.7%
Financing Activities Proceeds From Stock Issuance	1.0%	1.5%	1.1%
Financing Activities Tax Withholding On Stock Based Compensation	4.6%	5.7%	12.3%
Financing Activities Other Financing Activities	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-31.3%	-32.2%	-24.5%
Cash Reconciliation Effect of Exchange Rate On Cash	5.4%	-2.1%	1.5%
Cash Reconciliation net Change In Cash	5.9%	0.8%	5.7%
Cash Reconciliation Cash At Beginning of Period	110.2%	114.9%	127.7%
Cash Reconciliation Cash At End of Period	110.2%	114.9%	127.7%

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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