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%
                    
                    P84
                    
                    +10.3%
                    
                    Net income
                    FY2025
                
$2.5B
                    Net margin +20.5%
                    
                    P96
                    
                    -5.2%
                    
                    Total assets
                    FY2025
                
$22.2B
                    ROA +11.3%
                    
                    P66
                    
                    +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

22 accounts · 5 years

Total assets $22.2B

Total liabilities $14.0B

Shareholders equity $8.2B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	53.6%	61.8%	69.3%	87.8%	101.3%
Short Term Investments	36.4%	33.8%	32.2%	26.7%	37.6%
Prepaid Expenses	6.7%	5.7%	5.7%	5.4%	5.8%
Other Current Assets	56.8%	53.4%	59.2%	56.9%	62.0%
Total Current Assets	153.6%	154.7%	166.5%	176.9%	206.7%
Intangible Assets	6.3%	7.0%	8.0%	8.1%	0.9%
Deferred Tax Assets	17.2%	22.0%	29.1%	0.2%	—
Other Noncurrent Assets	4.4%	5.1%	4.7%	5.7%	3.1%
Total Assets	181.4%	188.8%	208.2%	191.0%	228.8%
Liabilities
Accounts Payable	24.1%	23.5%	26.8%	24.0%	2.0%
Deferred Revenue	71.1%	68.0%	73.6%	71.0%	77.1%
Current Portion of Long Term Debt	16.3%	0.0%	—	—	—
Total Current Liabilities	111.5%	91.5%	100.3%	95.0%	106.1%
Long Term Debt	0.0%	18.0%	20.1%	23.7%	33.1%
Other Noncurrent Liabilities	2.9%	3.5%	5.4%	—	—
Total Liabilities	114.4%	113.0%	125.8%	124.8%	149.1%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	112.4%	113.5%	117.4%	137.6%	185.9%
Retained Earnings	-44.9%	-38.1%	-34.5%	-71.0%	-106.1%
Accumulated Other Comprehensive Income	-0.5%	0.3%	-0.5%	-0.4%	-0.1%
Total Stockholders Equity	67.0%	75.8%	82.3%	66.2%	79.7%
Total Liabilitiesand Equity	181.4%	188.8%	208.2%	191.0%	228.8%

Income Statement

Revenue, expense, and profitability

13 accounts · 5 years

Revenue $12.2B

Operating income $2.5B

Net income $2.5B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	17.0%	16.9%	17.2%	17.8%	19.3%
Expenses Research and Development	19.2%	18.5%	17.4%	17.9%	23.8%
Expenses Selling,General and Administrative	32.1%	30.0%	38.2%	29.4%	33.7%
Expenses Other Operating Expenses	10.8%	11.5%	12.0%	12.4%	14.1%
Other Income Expense Operating Income	20.8%	23.0%	15.3%	21.5%	7.2%
Other Income Expense Interest Income	5.8%	7.4%	7.3%	2.2%	0.2%
Other Income Expense Other Income/expense	-0.9%	-0.4%	-1.4%	0.0%	-5.1%
Other Income Expense Income Before Tax	25.6%	30.0%	21.2%	23.7%	-5.0%
Income Tax Income Tax Expense	5.1%	6.2%	-27.1%	1.1%	0.9%
net Income net Income	20.5%	23.9%	48.3%	22.5%	-5.9%
net Income Comprehensive Income	19.7%	24.6%	48.1%	22.2%	-6.0%
Earnings Per Share Weighted Average Shares Diluted	5.1%	5.8%	6.7%	8.1%	10.3%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 5 years

Operating cash flow $4.6B

Investing cash flow $-748.0M

Financing cash flow $-3.8B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	20.5%	23.9%	48.3%	22.5%	-5.9%
Operating Activities Stock Based Compensation	13.0%	12.7%	11.3%	11.1%	15.0%
Operating Activities Deferred Income Taxes	3.1%	3.9%	-29.0%	-0.0%	0.2%
Operating Activities Changes In Operating Assets and Liabilities	-0.9%	-0.6%	7.3%	3.8%	12.7%
Operating Activities Other Non Cash Items	2.2%	0.9%	1.3%	2.5%	14.3%
Operating Activities net Cash From Operating Activities	38.0%	40.7%	39.2%	40.8%	38.6%
Investing Activities Purchases of Investments	-28.1%	-28.3%	-33.4%	-48.5%	-82.4%
Investing Activities Proceeds From Sale of Investments	22.4%	23.5%	24.0%	48.5%	60.3%
Investing Activities Other Investing Activities	-0.4%	-0.7%	-1.1%	-0.3%	-0.4%
Investing Activities net Cash From Investing Activities	-6.1%	-5.5%	-10.5%	-0.3%	-22.6%
Financing Activities Repurchase of Common Stock	-31.0%	-30.9%	-22.7%	-17.9%	0.0%
Financing Activities Proceeds From Stock Issuance	1.0%	1.5%	1.1%	1.0%	3.2%
Financing Activities Tax Withholding On Stock Based Compensation	-4.6%	-5.7%	-12.3%	-7.2%	-3.0%
Financing Activities Other Financing Activities	3.3%	2.9%	9.4%	15.8%	25.5%
Financing Activities net Cash From Financing Activities	-31.3%	-32.2%	-24.5%	-8.2%	21.8%
Cash Reconciliation Effect of Exchange Rate On Cash	5.4%	-2.1%	1.5%	-4.0%	-3.5%
Cash Reconciliation net Change In Cash	5.9%	0.8%	5.7%	28.3%	34.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+83.0%	+83.1%	+82.8%	+82.2%	+80.7%
Operating margin	+20.8%	+23.0%	+15.3%	+21.5%	+7.2%
Net margin	+20.5%	+23.9%	+48.3%	+22.5%	-5.9%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+13.4%	+22.8%	+43.2%	+20.5%	—
Returns
ROE	+30.6%	+31.5%	+58.7%	+34.0%	-7.4%
ROA	+11.3%	+12.6%	+23.2%	+11.8%	-2.6%
ROIC	+56.0%	+57.3%	+46.3%	+1014.8%	+62.1%
Liquidity
Current ratio	1.38x	1.69x	1.66x	1.86x	1.95x
Quick ratio	—	—	—	—	—
Leverage
D/E	1.71x	1.49x	1.53x	1.88x	1.87x
Interest coverage	—	—	—	—	0.98x
Efficiency
Asset turnover	0.55x	0.53x	0.48x	0.52x	0.44x
Cash conversion cycle	—	—	—	—	—

Valuation

Price against fundamentals

ABNB $121 · 2025-09-30 · 396d old · FY2025

Market cap $75.6B

P/E 30.13x

P/S 6.18x

P/B 9.23x

EV $71.1B

EV/EBITDA —

FCF yield —

Dividend yield —

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Airbnb

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