Airbnb, Inc. (ABNB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.25	$1.37	+9.6%	—	$3.6B	—
Q1 26	$0.3	$0.26	-13.3%	—	$2.7B	—
Q4 25	$0.66	$0.56	-15.2%	—	$2.8B	—
Q2 25	$0.94	$1.03	+9.6%	—	$3.1B	—
Q1 25	$0.24	$0.24	0.0%	—	$2.3B	—
Q4 24	$0.58	$0.73	+25.9%	—	$2.5B	—
Q3 24	$2.13	$2.13	0.0%	—	$3.7B	—
Q2 24	$0.91	$0.86	-5.5%	—	$2.7B	—
Q1 24	$0.23	$0.41	+78.3%	—	$2.1B	—
Q4 23	$0.7	-$0.55	-178.6%	—	$2.2B	—
Q3 23	$2.1	$2.43	+15.7%	—	$3.4B	—
Q2 23	$0.78	$0.98	+25.6%	—	$2.5B	—
Q1 23	$0.09	$0.18	+100.0%	—	$1.8B	—
Q4 22	$0.25	$0.48	+92.0%	—	$1.9B	—
Q3 22	$1.47	$1.79	+21.8%	—	$2.9B	—
Q2 22	$0.43	$0.56	+30.2%	—	$2.1B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.1	—	—	$12.2B	—
FY24	—	$4.19	—	—	$11.1B	—
FY23	—	$7.52	—	—	$9.9B	—
FY22	—	$2.97	—	—	$8.4B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.6B	$3.7B	$4.8B	$3.4B	$6B	$8.4B	$9.9B	$11.1B	$12.2B
YoY change	—	+42.6%	+31.6%	-29.7%	+77.4%	+40.2%	+18.1%	+11.9%	+10.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.6B	3.7B	4.8B	3.4B	6B	8.4B	9.9B	11.1B	12.2B
Cost of revenue	647.7M	864M	1.2B	876M	1.2B	1.5B	1.7B	1.9B	2.1B
Gross profit	1.9B	2.8B	3.6B	2.5B	4.8B	6.9B	8.2B	9.2B	10.2B
Gross margin	74.7%	76.3%	75.1%	74.1%	80.7%	82.2%	82.8%	83.1%	83%
Research & development	400.7M	579.2M	976.7M	2.8B	1.4B	1.5B	1.7B	2.1B	2.4B
Selling, general & administrative	1.2B	1.6B	2.3B	2.3B	2B	2.5B	3.8B	3.3B	3.9B
Operating expenses	2B	2.8B	4.1B	5.9B	4.3B	5B	6.7B	6.7B	7.6B
Operating income	-81.4M	18.7M	-501.5M	-3.4B	542M	1.9B	1.5B	2.6B	2.5B
Operating margin	-3.18%	0.51%	-10.4%	-101.8%	9.05%	22.5%	15.3%	23%	20.8%
Non-operating income, net	6.6M	-12.4M	13.9M	-1.1B	-417M	-64M	-54M	-40M	-112M
Pretax income	-59.1M	47M	-411.7M	-4.7B	-300M	2B	2.1B	3.3B	3.1B
Income tax	10.9M	63.9M	262.6M	-97.2M	52M	96M	-2.7B	683M	626M
Net income	-70M	-16.9M	-674.3M	-4.6B	-352M	1.9B	4.8B	2.6B	2.5B
Net margin	-2.73%	-0.46%	-14%	-135.7%	-5.87%	22.5%	48.3%	23.9%	20.5%
EBITDA	36.6M	155.6M	-287.6M	-4.2B	389M	2.2B	2.2B	2.6B	2.5B
EPS	-0.13	-0.03	-1.27	-16.1	-0.57	2.97	7.52	4.19	4.1
Diluted EPS	-0.13	-0.03	-1.27	-16.1	-0.57	2.79	7.24	4.11	1.03

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.4B	2.2B	2.1B	2.7B	3.7B	2.5B	2.3B	3.1B	4.1B	2.8B	2.7B	3.6B
Cost of revenue	459M	384M	480M	506M	465M	427M	506M	544M	549M	487M	581M	633M
Gross profit	2.9B	1.8B	1.7B	2.2B	3.3B	2.1B	1.8B	2.6B	3.5B	2.3B	2.1B	3B
Gross margin	86.5%	82.7%	77.6%	81.6%	87.5%	82.8%	77.7%	82.4%	86.6%	82.5%	78.3%	82.5%
Research & development	419M	432M	475M	519M	524M	538M	568M	610M	587M	589M	638M	672M
Selling, general & administrative	707M	1.6B	801M	888M	849M	795M	857M	998M	969M	1.1B	1B	1.2B
Operating expenses	1.4B	2.3B	1.6B	1.7B	1.7B	1.6B	1.7B	1.9B	1.9B	2B	2B	2.2B
Operating income	1.5B	-496M	101M	497M	1.5B	430M	38M	612M	1.6B	269M	86M	758M
Operating margin	44%	-22.4%	4.72%	18.1%	40.9%	17.3%	1.67%	19.8%	39.7%	9.68%	3.21%	21%
Non-operating income, net	-9M	-8M	-10M	-42M	3M	9M	-38M	-23M	-13M	-38M	40M	-7M
Pretax income	1.7B	-383M	293M	681M	1.7B	622M	173M	779M	1.8B	393M	281M	897M
Income tax	-2.7B	-34M	29M	126M	367M	161M	19M	137M	418M	52M	121M	81M
Net income	4.4B	-349M	264M	555M	1.4B	461M	154M	642M	1.4B	341M	160M	816M
Net margin	128.8%	-15.7%	12.3%	20.2%	36.7%	18.6%	6.78%	20.7%	33.6%	12.3%	5.97%	22.6%
EBITDA	1.5B	-296M	115M	511M	1.5B	452M	63M	612M	1.6B	269M	86M	934M
EPS	6.83	-0.55	0.41	0.87	2.17	0.74	0.25	1.04	2.25	0.56	0.27	1.38
Diluted EPS	6.63	-0.55	0.41	0.86	2.13	0.73	0.24	1.03	2.21	0.56	0.26	1.37

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	54.5B	86.7B	83.1B	83.2B	93.5B
Enterprise value	—	—	—	—	—	47.2B	79B	74.7B	74.2B	83.3B
Shares outstanding	521.7M	530.9M	530.9M	284.4M	615.9M	637M	637M	632M	613M	613M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	28.8	18.1	31.4	33.1	35.6
P/S	—	—	—	—	—	6.48	8.74	7.48	6.8	7.1
P/B	—	—	—	—	—	9.8	10.6	9.87	10.1	11.8
EV/EBITDA	—	—	—	—	—	21.6	35.4	28.5	29.2	30.2
EV/Sales	—	—	—	—	—	5.62	7.96	6.73	6.07	6.33
Earnings yield	—	—	—	—	—	3.48%	5.53%	3.19%	3.02%	2.81%
FCF yield	—	—	—	—	—	6.3%	4.48%	5.44%	5.58%	3.43%
PEG	—	—	—	—	—	—	—	—	—	1.09

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	74.7%	76.3%	75.1%	74.1%	80.7%	82.2%	82.8%	83.1%	83%	82.5%
Operating margin	-3.18%	0.51%	-10.4%	-101.8%	9.05%	22.5%	15.3%	23%	20.8%	21%
Net margin	-2.73%	-0.46%	-14%	-135.7%	-5.87%	22.5%	48.3%	23.9%	20.5%	20.4%
ROE	—	3.26%	83.5%	-158%	-7.37%	34%	58.7%	31.5%	30.6%	34.5%
ROA	—	-0.25%	-8.11%	-43.7%	-2.57%	11.8%	23.2%	12.6%	11.3%	6.14%
ROIC	—	0%	14.5%	296.5%	-48%	-104.6%	381.4%	2.1K%	-272.2%	-123.5%
Return on tangible assets	—	-0.28%	-9.92%	-50.8%	-2.86%	12.9%	25.1%	13.6%	12.1%	9.61%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	1.57	1.25	1.73	1.95	1.86	1.66	1.69	1.38	1.41
Quick ratio	—	1.57	1.25	1.73	1.95	1.86	1.66	1.69	1.38	1.41
Debt / equity	—	0	-0.52	0.8	0.51	0.42	0.28	0.27	0.25	0.32
Debt / assets	—	0	0.05	0.22	0.18	0.15	0.11	0.11	0.09	0.09
Net debt / EBITDA	—	-21.4	9.23	0.96	-15.2	-3.34	-3.48	-3.18	-3.52	-3.29
Interest coverage	-2.6	2.8	-40.3	-26.3	0.32	83.9	26.3	—	—	—
Effective tax rate	0%	100%	0%	0%	0%	4.83%	0%	20.5%	20%	20%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.91	6.88	9.05	11.9	9.73	13.2	15.6	17.6	20	21.9
EPS (basic)	-0.13	-0.03	-1.27	-16.1	-0.57	2.97	7.52	4.19	4.1	4.1
EPS (diluted)	-0.13	-0.03	-1.27	-16.1	-0.57	2.79	7.24	4.11	1.03	4.38
Book value per share	—	-0.97	-1.52	10.2	7.75	8.73	12.8	13.3	13.4	13.2
FCF per share	0.29	0.95	0.18	-2.35	3.76	5.38	6.1	7.15	7.58	8.14
Cash per share	—	6.27	5.79	22.5	13.5	15.1	15.8	16.8	18	20.5
Capex per share	0.19	0.17	0.24	0.13	0.04	0.04	—	—	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.91%	2.48%	2.61%	1.11%	0.42%	0.3%	—	—	—	—
Capex / operating cash flow	51%	31.1%	-60.5%	-2.16%	1.95%	0.76%	—	—	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.4B	$2.2B	$2.1B	$2.7B	$3.7B	$2.5B	$2.3B	$3.1B	$4.1B	$2.8B	$2.7B	$3.6B
YoY change	+17.8%	+16.6%	+17.8%	+10.6%	+9.86%	+11.8%	+6.07%	+12.7%	+9.73%	+12%	+17.9%	+16.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.3B	3.1B	6.4B	8.3B	9.6B	10.1B	10.6B	11B
Receivables	—	—	—	—	200M	249M	147M	186M
Inventory	—	—	—	—	—	—	—	—
Total current assets	5.9B	6.6B	8.9B	12.4B	14.9B	16.5B	17.2B	18.8B
Property, plant & equipment	144.5M	670M	637.4M	412M	242M	262M	274M	257M
Goodwill & intangibles	637.2M	1.5B	1.5B	1.4B	1.4B	1.6B	1.6B	1.5B
Total assets	6.6B	8.3B	10.5B	13.7B	16B	20.6B	21B	22.2B
Accounts payable	70.6M	151.4M	79.9M	118M	137M	141M	142M	232M
Short-term debt	—	38M	83.3M	63M	59M	61M	63M	2.1B
Total current liabilities	3.7B	5.2B	5.1B	6.4B	8B	9.9B	10.2B	13.6B
Long-term debt	0	381.4M	2.2B	2.4B	2.3B	2.2B	2.2B	—
Total liabilities	7.1B	9.1B	7.6B	8.9B	10.5B	12.5B	12.5B	14B
Shareholders' equity	-517.3M	-807.7M	2.9B	4.8B	5.6B	8.2B	8.4B	8.2B
Total debt	0	419.4M	2.3B	2.4B	2.3B	2.3B	2.3B	2.1B
Net debt	-2.1B	-1.6B	-3.2B	-3.6B	-5B	-4.6B	-4.6B	-4.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	11B	10.1B	11.1B	11.3B	11.3B	10.6B	11.5B	11.4B	11.7B	11B	12B	12.1B
Receivables	206M	249M	—	175M	175M	147M	174M	186M	180M	186M	191M	209M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	17.5B	16.5B	20.4B	22.3B	18.3B	17.2B	21.3B	23.2B	19.5B	18.8B	23.6B	25.5B
Property, plant & equipment	270M	262M	282M	273M	262M	274M	277M	276M	272M	257M	—	—
Goodwill & intangibles	676M	1.6B	786M	783M	783M	1.6B	775M	776M	773M	1.5B	767M	765M
Total assets	21.4B	20.6B	24.5B	26.3B	22.2B	21B	25.1B	27B	23.1B	22.2B	26.8B	28.8B
Accounts payable	163M	141M	184M	163M	181M	142M	186M	221M	181M	232M	180M	144M
Short-term debt	54M	61M	61M	59M	54M	63M	2.1B	2.1B	2.1B	2.1B	59M	20M
Total current liabilities	9.8B	9.9B	14.1B	15.8B	11.3B	10.2B	16.7B	18.8B	14B	13.6B	16.4B	18.1B
Long-term debt	2.3B	2.2B	2B	2.2B	2.2B	2.2B	223M	218M	213M	—	2.5B	2.5B
Total liabilities	12.3B	12.5B	16.6B	18.3B	13.7B	12.5B	17.1B	19.2B	14.5B	14B	19.2B	21B
Shareholders' equity	9.1B	8.2B	7.9B	8B	8.5B	8.4B	7.9B	7.8B	8.6B	8.2B	7.6B	7.8B
Total debt	2.3B	2.3B	2.1B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.1B	2.5B	2.5B
Net debt	-5.9B	-4.6B	-5.8B	-5.6B	-5.4B	-4.6B	-5.3B	-5.1B	-5.3B	-4.5B	-4.5B	-4.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-70M	-16.9M	-674.3M	-4.6B	-352M	1.9B	4.8B	2.6B	2.5B
Depreciation & amortization	79.3M	82.4M	114.2M	125.9M	138M	81M	44M	65M	—
Stock-based compensation	38.4M	53.9M	97.5M	3B	899M	930M	1.1B	1.4B	1.6B
Change in working capital	147.2M	175.7M	259.2M	-312.5M	527.3M	272M	242M	200M	122M
Operating cash flow	196.6M	291.8M	-207.5M	-1.7B	1.3B	3.3B	3.4B	4.8B	4.6B
Capital expenditure	-100.2M	-90.6M	-125.5M	-37.4M	-25.3M	-25M	—	—	—
Investing cash flow	-788.9M	-668.2M	-347.2M	79.6M	-1.4B	-53M	-1B	-616M	-748M
Dividends paid	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	0	-1.5B	-2.3B	-3.4B	-3.8B
Financing cash flow	671.9M	124.5M	848.7M	2.9B	1.1B	-777M	-2.5B	-3.7B	-3.9B
Net change in cash	79.6M	-251.9M	294.1M	1.3B	1B	2.5B	-176M	429M	-51M
Free cash flow	151M	504.9M	97.3M	-667.1M	2.3B	3.4B	3.9B	4.5B	4.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	4.4B	-349M	264M	555M	1.4B	461M	154M	642M	1.4B	341M	160M	816M
Depreciation & amortization	8M	16M	14M	14M	15M	22M	25M	—	—	—	—	—
Stock-based compensation	286M	290M	295M	382M	362M	368M	358M	424M	399M	411M	410M	487M
Change in working capital	-807M	-42M	1B	191M	-966M	-33M	1.1B	131M	-1B	-76M	988M	97M
Operating cash flow	1.1B	-158M	1.6B	1.2B	979M	929M	1.7B	975M	1.4B	526M	1.7B	1.3B
Capital expenditure	-15M	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-379M	-391M	-84M	-110M	-202M	-220M	-151M	-91M	-206M	-300M	-461M	-349M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-500M	-752M	-750M	-749M	-1.1B	-838M	-807M	-1B	-877M	-1.1B	-1.1B	-1.1B
Financing cash flow	-3.7B	-1.2B	2.1B	758M	-5.2B	-1.4B	2.1B	283M	-4.9B	-1.5B	3B	498M
Net change in cash	-3B	-1.8B	3.6B	1.8B	-4.4B	-682M	3.7B	1.2B	-3.7B	-1.3B	4.2B	1.4B
Free cash flow	1.3B	93M	1.9B	1.1B	1.1B	466M	1.8B	975M	1.4B	526M	1.7B	1.3B

Airbnb, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement