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

Balance Sheet

Assets, liabilities, and equity

22 accounts · 3 years

Total assets $22.2B

Total liabilities $14.0B

Shareholders equity $8.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$6.6B -4.4%	$6.9B -0.1%	$6.9B
Short Term Investments	$4.5B 18.9%	$3.7B 17.2%	$3.2B
Prepaid Expenses	$824.0M 29.2%	$638.0M 12.1%	$569.0M
Other Current Assets	$7.0B 17.3%	$5.9B 1.1%	$5.9B
Total Current Assets	$18.8B 9.4%	$17.2B 4.1%	$16.5B
Intangible Assets	$770.0M -0.9%	$777.0M -1.9%	$792.0M
Deferred Tax Assets	$2.1B -13.8%	$2.4B -15.3%	$2.9B
Other Noncurrent Assets	$539.0M -4.3%	$563.0M 21.6%	$463.0M
Total Assets	$22.2B 6.0%	$21.0B 1.5%	$20.6B
Liabilities
Accounts Payable	$2.9B 12.8%	$2.6B -1.5%	$2.7B
Deferred Revenue	$8.7B 15.3%	$7.5B 3.4%	$7.3B
Current Portion of Long Term Debt	$2.0B	$0	—
Total Current Liabilities	$13.6B 34.3%	$10.2B 2.1%	$9.9B
Long Term Debt	$0 -100.0%	$2.0B 0.2%	$2.0B
Other Noncurrent Liabilities	$360.0M -7.9%	$391.0M -27.5%	$539.0M
Total Liabilities	$14.0B 11.7%	$12.5B 0.5%	$12.5B
Equity
Common Stock	$0	$0	$0
Additional Paid In Capital	$13.8B 9.2%	$12.6B 8.3%	$11.6B
Retained Earnings	$-5.5B -30.2%	$-4.2B -23.4%	$-3.4B
Accumulated Other Comprehensive Income	$-62.0M -277.1%	$35.0M 171.4%	$-49.0M
Total Stockholders Equity	$8.2B -2.5%	$8.4B 3.0%	$8.2B
Total Liabilitiesand Equity	$22.2B 6.0%	$21.0B 1.5%	$20.6B

Income Statement

Revenue, expense, and profitability

13 accounts · 3 years

Revenue $12.2B

Operating income $2.5B

Net income $2.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$12.2B 10.3%	$11.1B 11.9%	$9.9B
Expenses Cost of Revenue	$2.1B 11.1%	$1.9B 10.3%	$1.7B
Expenses Research and Development	$2.4B 14.5%	$2.1B 19.4%	$1.7B
Expenses Selling,General and Administrative	$3.9B 17.9%	$3.3B -12.0%	$3.8B
Expenses Other Operating Expenses	$1.3B 3.5%	$1.3B 8.1%	$1.2B
Other Income Expense Operating Income	$2.5B -0.4%	$2.6B 68.2%	$1.5B
Other Income Expense Interest Income	$705.0M -13.8%	$818.0M 13.5%	$721.0M
Other Income Expense Other Income/expense	$-112.0M -180.0%	$-40.0M 70.8%	$-137.0M
Other Income Expense Income Before Tax	$3.1B -5.8%	$3.3B 58.5%	$2.1B
Income Tax Income Tax Expense	$626.0M -8.3%	$683.0M 125.4%	$-2.7B
net Income net Income	$2.5B -5.2%	$2.6B -44.7%	$4.8B
net Income Comprehensive Income	$2.4B -11.6%	$2.7B -42.8%	$4.8B
Earnings Per Share Weighted Average Shares Diluted	$623.0M -3.4%	$645.0M -2.6%	$662.0M

Cash Flow Statement

Operating, investing, and financing flows

17 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	$2.5B -5.2%	$2.6B -44.7%	$4.8B
Operating Activities Stock Based Compensation	$1.6B 13.1%	$1.4B 25.6%	$1.1B
Operating Activities Deferred Income Taxes	$376.0M -13.2%	$433.0M 115.1%	$-2.9B
Operating Activities Changes In Operating Assets and Liabilities	$-106.0M -58.2%	$-67.0M -109.3%	$720.0M
Operating Activities Other Non Cash Items	$273.0M 181.4%	$97.0M -23.6%	$127.0M
Operating Activities net Cash From Operating Activities	$4.6B 2.8%	$4.5B 16.3%	$3.9B
Investing Activities Purchases of Investments	$-3.4B -9.3%	$-3.1B 4.9%	$-3.3B
Investing Activities Proceeds From Sale of Investments	$2.7B 5.0%	$2.6B 9.5%	$2.4B
Investing Activities Other Investing Activities	$-46.0M 38.7%	$-75.0M 34.2%	$-114.0M
Investing Activities net Cash From Investing Activities	$-748.0M -21.4%	$-616.0M 40.9%	$-1.0B
Financing Activities Repurchase of Common Stock	$-3.8B -10.5%	$-3.4B -52.3%	$-2.3B
Financing Activities Proceeds From Stock Issuance	$122.0M -27.4%	$168.0M 52.7%	$110.0M
Financing Activities Tax Withholding On Stock Based Compensation	$-561.0M 11.0%	$-630.0M 48.5%	$-1.2B
Financing Activities Other Financing Activities	$401.0M 25.3%	$320.0M -65.8%	$936.0M
Financing Activities net Cash From Financing Activities	$-3.8B -7.1%	$-3.6B -47.0%	$-2.4B
Cash Reconciliation Effect of Exchange Rate On Cash	$655.0M 376.4%	$-237.0M -255.9%	$152.0M
Cash Reconciliation net Change In Cash	$726.0M 680.6%	$93.0M -83.5%	$564.0M

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	+56.0%	+57.3%	+46.3%
Liquidity
Current ratio	1.38x	1.69x	1.66x
Quick ratio	—	—	—
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 · 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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