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Airbnb was founded in 2007 when two hosts welcomed three guests to their San Francisco home, and has since grown into a global community of over 5 million hosts who have welcomed over 2.5 billion guest arrivals in almost every country and region across the globe. Every day, hosts offer unique stays, experiences, and services that enable guests to connect with communities in a more auth…
$134.35
$3.52 (-2.55%)
Last close via Marketstack
Margins and capital returns are both well above average: 20.78% operating margin, ROIC at 18.11%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 10.3%, still solid. Margins contracted 2.2pp, which offsets some of the top-line progress.
At 33x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
33.2x earnings, 17.9x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$12.65B
▲ +10.3% YoY
Net Income (TTM)
$2.52B
▼ -5.2% YoY
Op. Margin
20.49%
▼ -2.2pp YoY
ROIC
17.93%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$4.57B
▲ +2.8% YoY
Op. Cash Flow (TTM)
$4.57B
▲ +2.8% YoY
Net Debt
-$9.47B
Net Cash Position
Cash & Equiv.
$12.01B
5Y CAGR: +29.4%
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