Global Business Travel Group (GBTG)
Manages corporate travel, expense workflows, meetings, and events through software and global traveler support.
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Manages business travel, expense workflows, meetings, and events through Egencia, Complete, Neo, Select, Ovation, and other service-led offerings. Revenue comes mainly from transaction fees and supplier payments tied to bookings, supplemented by management, subscription, consulting, and events fees across a global owned-and-partner network.
Runs managed business-travel programs for enterprises and smaller businesses, combining air, hotel, rail, and car content with round-the-clock support. Its portfolio spans Egencia, Complete by SAP Concur and Amex GBT, Neo, Select, Ovation, and CWTSatoTravel; Meetings & Events and Consulting cover group travel and program design.
Earns most revenue from client transaction fees and volume-linked supplier payments; management, subscription, meetings, and consulting fees provide less travel-volume-sensitive income. Owned operations in major business-travel markets and partner networks extend service globally. Scale supports negotiated content, travel-policy controls, duty-of-care tools, analytics, and disruption servicing.
Operates separately from American Express under a limited brand license and remains subject to bank regulation while American Express is deemed to control it. CWT integration continues, while a shareholder-approved acquisition by Long Lake Management awaits regulatory clearances.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| May 5, 2026 | BTIG | Downgrade | ||
| May 4, 2026 | Lake Street | Target | Target: — | Target: $9.50 |
| Mar 11, 2026 | Deutsche Bank | Target | Target: — | Target: $8.20 |
| Mar 9, 2026 | Morgan Stanley | Target | Target: — | Target: $7 |
| Mar 9, 2026 | BTIG | Target | Target: — | Target: $9 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $518.0M · Total debt $1.60B · Total assets $5.08B · Shareholders' equity $1.64B
- Revenue
- $870.0M
- Operating income
- $24.0M
- Net income
- $15.0M
No dividends on record.
| Institutions | ≈ 63.26% | 330.43M shares | |
|---|---|---|---|
| 195 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 21.63% | 112.97M shares | |
| 19 holders · as of Aug 25, 2026 | |||
| Strategic holders | 21.83% | 114.04M shares | |
| 2 holders · as of May 5, 2026 | |||
| Adds to | 106.72% | ||
522.37M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 106.72%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
American Express CoInstitution | 30.21% | 157.79M | as of Jun 30, 2026 |
Investment Authority QatarInsiderdirector, 10 percent owner | 16.78% | 87.66M | filed Jun 29, 2026 |
Expedia Group, Inc.Strategicdirector, 10 percent owner | 14.33% | 74.85M | filed May 5, 2026 |
BlackRock, Inc.Institution | 9.47% | 49.49M | as of Jun 30, 2026 |
BlackRock Portfolio Management LLCStrategic | 7.50% | 39.19M | filed May 5, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Eric J. Bock | officer: See remarks | −64,780 | $9.46 |
| Aug 20, 2026 | Eric J. Bock | officer: See remarks | −10,000 | $9.46 |
| Aug 6, 2026 | Andrew George Crawley | officer: President | −332,662 | $9.43 |
| Aug 5, 2026 | Andrew George Crawley | officer: President | −350,000 | $9.43 |
| Aug 5, 2026 | Karen A. Williams | officer: Chief Financial Officer | −20,000 | $9.43 |
