Airbnb, Inc. ABNB

Consumer DiscretionarySoftware & IT ServicesUnited States of America

Last close 164.39 USD on Nov 1, 2026, +21.1% year to date

Quant rating

Quant rating B Rank 98 of 344 in Consumer Discretionary

Growth A 19 of 344
Valuation D 317 of 344
Quality B 105 of 344
Revisions B 91 of 344
Momentum B 93 of 344

Wall Street consensus Buy (2.23)Average target 186.16 USD +13.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 96.9B
Enterprise value: 87.3B
52-week range: 110.81 – 193.45
3-year range: 105.69 – 193.45
Dividend yield: –
Beta (5 years): 1.27
Shares outstanding: 590M
Next earnings: Nov 5, 2026

About the company

Airbnb, Inc. operates a global platform for stays and experiences. The Company’s marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences around the world. The Company has built its platform to onboard new hosts, especially those who previously had not considered hosting. It partners with hosts throughout the process of setting up their listing and provides them with a suite of tools to manage their listings, including scheduling, merchandising, integrated payments, community support, host protection, pricing guidance, and feedback from reviews. Its Website and mobile applications provide its guests with a way to explore a variety of homes and experiences and an easy way to book them. Its technology platform powers its two-sided marketplace and enables its global network of hosts and guests. It owns a trademark portfolio with protection in 220 countries in which it operates for its primary brands, AIRBNB, and its Belo logo.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	12,241	11,102	9,917	8,399	5,992	–
Revenue growth	10.3%	11.9%	18.1%	40.2%	77.4%	29.4%
EPS (basic, normalized)	4.03	4.11	8.50	2.79	−0.57	–
EPS growth	−1.9%	−51.6%	204.7%	–	–	–
Gross margin	72.1%	71.5%	70.9%	69.8%	66.6%	70.2%
Net margin	20.5%	23.9%	48.3%	22.5%	−5.9%	21.9%
ROE	30.2%	31.9%	69.8%	36.6%	−9.2%	31.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	12,069
Current ratio	1.41x
Long-term debt (mil)	2,476
Net debt (mil)	−9,593
Total equity (mil)	7,799
Net debt / equity	−1.23x
Net debt / EBITDA	−2.23x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	12,241	+10.3%	7.1x	4,297	+9.4%	20.3x	4.03	−1.9%	40.8x
2026	14,193	+15.9%	6.2x	5,059	+17.7%	17.3x	5.32	+32.0%	30.9x
2027	15,844	+11.6%	5.5x	5,771	+14.1%	15.1x	6.26	+17.7%	26.2x
2028	17,556	+10.8%	5.0x	6,575	+13.9%	13.3x	7.41	+18.3%	22.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	14,193	0.0%	+1.7%	+3.5%	5.32	−0.3%	+4.7%	+7.8%
2027	15,844	+0.1%	+2.7%	+4.8%	6.26	+0.1%	+3.4%	+8.0%
2028	17,556	0.0%	+3.3%	+5.7%	7.41	−0.7%	+3.7%	+10.0%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	2,142	2,748	3,732	2,480	2,272	3,096	4,095	2,778	2,678	3,608
Sales mean (mil)	2,061	2,739	3,717	2,420	2,259	3,035	4,078	2,715	2,615	3,576
Surprise	+3.9%	+0.3%	+0.4%	+2.5%	+0.6%	+2.0%	+0.4%	+2.3%	+2.4%	+0.9%
EPS reported	0.41	0.86	2.13	0.73	0.24	1.02	2.21	0.56	0.26	1.37
EPS mean	0.24	0.92	2.14	0.58	0.24	0.94	2.34	0.66	0.29	1.25
Surprise	+68.7%	−6.2%	−0.5%	+26.8%	+1.9%	+8.8%	−5.6%	−14.8%	−10.1%	+9.4%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ABNB Airbnb, Inc.	96.9B	−2.23x	20.5%	12.88x	30.9x	26.2x	17.3x	15.1x
GOOGL Alphabet Inc.	3.43T	−0.67x	32.8%	5.08x	14.1x	18.6x	14.3x	10.9x
META Meta Platforms, Inc.	1.60T	0.01x	37.1%	5.77x	21.3x	18.2x	11.4x	8.9x
NFLX Netflix, Inc.	254.9B	0.49x	24.3%	8.70x	17.3x	16.5x	15.3x	13.3x
SHOP Shopify Inc.	202.6B	−2.48x	10.7%	16.01x	83.1x	64.3x	70.8x	53.4x
UBER Uber Technologies, Inc.	133.3B	0.96x	19.3%	4.87x	19.8x	14.4x	12.7x	10.3x
Mean		−0.65x	24.1%	8.89x	31.1x	26.4x	23.6x	18.7x
Median		−0.33x	22.4%	7.24x	20.5x	18.4x	14.8x	12.1x

Technical analysis

1M+5.3%
3M+7.4%
1Y+28.4%
3Y+44.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Airbnb, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	12,241	11,102	9,917	8,399	5,992	3,378
Cost of revenue	3,413	3,160	2,889	2,540	2,003	1,754
Gross profit	8,828	7,942	7,028	5,859	3,989	1,624
Selling, general & administrative expenses	3,930	3,333	3,788	2,466	2,018	2,306
Research & development	2,354	2,056	1,722	1,502	1,425	2,753
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	0	0	89.0	494	184
Other operating expenses	0	0	0	0	0	0
Operating income	2,544	2,553	1,518	1,802	52.1	−3,619
Net interest income (expense)	705	818	644	167	−64.6	−174
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−112	−40.0	−60.0	19.6	−288	−888
Net income before taxes	3,137	3,331	2,102	1,989	−300	−4,682
Provision for taxes	626	683	−2,690	96.0	51.8	−97.2
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	2,511	2,648	4,792	1,893	−352	−4,585
Extraordinary items	–	–	–	–	–	–
Net income	2,511	2,648	4,792	1,893	−352	−4,585
EBIT, normalized	2,614	2,546	1,515	1,882	557	−3,435
EBITDA, normalized	2,705	2,611	1,559	1,971	733	−3,309
Basic EPS, normalized	4.03	4.11	8.50	2.79	−0.57	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Airbnb, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	11,014	10,611	10,071	9,622	8,322	6,391
Receivables	7,184	6,106	6,118	4,983	3,858	2,371
Total inventory	–	–	–	–	–	–
Prepaid expenses	564	438	296	239	191	120
Other current assets	35.0	25.0	24.0	17.0	14.8	33.8
Total current assets	18,797	17,180	16,509	14,861	12,386	8,916
Property, plant & equipment	257	291	279	259	429	654
Goodwill	754	750	–	650	653	656
Intangibles	16.0	27.0	792	34.0	52.3	75.9
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	2,384	2,711	3,065	234	189	189
Total assets	22,208	20,959	20,645	16,038	13,708	10,491
Liabilities
Accounts payable	7,191	6,073	6,010	4,920	3,834	2,261
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,584	1,417	1,394	1,458	1,267	1,881
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	1,999	–	–	–	0	26.8
Other current liabilities	2,875	2,671	2,546	1,600	1,258	971
Total current liabilities	13,649	10,161	9,950	7,978	6,359	5,140
Long-term debt	0	1,995	1,991	1,987	1,983	1,816
Minority interest	–	–	–	–	–	–
Other liabilities	360	391	539	513	591	634
Total liabilities	14,009	12,547	12,480	10,478	8,933	7,590
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.1	0.1	–	0	0.1	0.1
Additional paid-in capital	13,763	12,602	11,639	11,557	11,140	8,905
Retained earnings (accumulated deficit)	−5,502	−4,225	−3,425	−5,965	−6,358	−6,006
Treasury stock	–	–	–	–	–	–
Other equity	−62.1	34.9	−49.0	−32.0	−6.9	2.6
Total equity	8,199	8,412	8,165	5,560	4,776	2,902
Total liabilities & shareholders' equity	22,208	20,959	20,645	16,038	13,708	10,491

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Airbnb, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	2,511	2,648	4,792	1,893	−352	−4,585
Depreciation, depletion & amortization	–	65.0	44.0	81.0	138	126
Deferred taxes	376	433	−2,875	−1.0	10.9	−19.6
Non-cash items	1,865	1,439	1,203	1,138	1,755	4,133
Changes in working capital	−106	−67.0	720	319	638	−285
Cash from operations	4,646	4,518	3,884	3,430	2,190	−630
Investing activities
Capital expenditures	–	–	–	−25.0	−25.3	−37.4
Other investing cash flows	−748	−616	−1,042	−3.0	−1,327	117
Cash from investing	−748	−616	−1,042	−28.0	−1,352	79.6
Financing activities
Financing cash flow items	−160	−310	−288	723	1,259	−2,649
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−3,667	−3,262	−2,142	−1,412	172	5,590
Cash from financing	−3,827	−3,572	−2,430	−689	1,431	2,941
Foreign exchange effects	655	−237	152	−337	−210	134
Net change in cash	726	93.0	564	2,376	2,059	2,525
Free cash flow	4,646	4,518	3,884	3,405	2,164	−667

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.