Overview
Airbnb, Inc.
Latest 10-K: FY2025, filed Feb 12, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $12.24B
- 10.3%YoYup from FY2024
- TotalRevenue
- Gross profit
- $10.15B
- 10.1%YoYup from FY2024
- GrossProfit
- Operating income
- $2.54B
- 0.4%YoYdown from FY2024
- OperatingIncome
- Net income
- $2.51B
- 5.2%YoYdown from FY2024
- NetIncome
- Diluted shares
- 623.0M
- 3.4%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Airbnb, Inc. reported revenue of $12.24B for fiscal 2025, up 10.3% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 5 of the last 5 fiscal years.
Profitability
- Operating margin was 20.8% and net margin was 20.5%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $12.24B10.3%up Benchmark median 6.4% | $11.10B11.9%up Benchmark median 4.5% | $9.92B18.1%up Benchmark median 4.8% | $8.40B40.2%up Benchmark median 10.3% | $5.99B77.4%up Benchmark median 13.8% | 19.6% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $10.15B10.1%up Benchmark median 6.8% | $9.22B12.3%up Benchmark median 5.5% | $8.21B19.0%up Benchmark median 5.2% | $6.90B42.7%up Benchmark median 8.3% | $4.84B93.3%up Benchmark median 15.7% | 20.4% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $2.54B0.4%down Benchmark median 7.3% | $2.55B68.2%up Benchmark median 7.4% | $1.52B15.8%down Benchmark median 4.9% | $1.80B320.0%up Benchmark median 7.5% | $0.43Bn/m Benchmark median 23.5% | 56.1% Benchmark median 7.2% |
| Net Income | $2.51B5.2%down Benchmark median 4.8% | $2.65B44.7%down Benchmark median 5.7% | $4.79B153.1%up Benchmark median 1.9% | $1.89Bn/m Benchmark median 1.3% | negative: -$0.35Bn/m Benchmark median 33.9% | n/m Benchmark median 4.1% |
| EPS (Diluted) | — | — | — | — | —‡ | — Benchmark median 5.6% |
‡ Share basis changed between these years (stock split or reverse split).
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $22.21B6.0%up Benchmark median 5.6% | $20.96B1.5%up Benchmark median 3.4% | $20.64B28.7%up Benchmark median 4.1% | $16.04B17.0%up Benchmark median 2.2% | $13.71B30.7%up Benchmark median 6.7% | 12.8% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $14.01B11.7%up Benchmark median 6.4% | $12.55B0.5%up Benchmark median 1.9% | $12.48B19.1%up Benchmark median 2.9% | $10.48B17.3%up Benchmark median 2.0% | $8.93B17.7%up Benchmark median 5.2% | 11.9% Benchmark median 4.4% |
| Stockholders' Equity | $8.20B2.5%down Benchmark median 6.8% | $8.41B3.0%up Benchmark median 5.4% | $8.16B46.9%up Benchmark median 7.3% | $5.56B16.4%up Benchmark median 2.5% | $4.78B64.6%up Benchmark median 9.0% | 14.5% Benchmark median 6.1% |
| Cash & Equivalents | $6.56B4.4%down Benchmark median 5.2% | $6.86B0.1%down Benchmark median 1.9% | $6.87B6.8%down Benchmark median 6.7% | $7.38B21.6%up Benchmark median -8.6% | $6.07B10.7%up Benchmark median -2.9% | 2.0% Benchmark median 2.0% |
| Total Debt | $2.00B0.2%up Benchmark median 2.1% | $2.00B0.2%up Benchmark median 0.2% | $1.99B†0.2%up Benchmark median 0.3% | $1.99B†0.2%up Benchmark median 0.1% | $1.98B8.6%up Benchmark median -0.1% | 0.2% Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.65B2.8%up Benchmark median 6.3% | $4.52B16.3%up Benchmark median 4.8% | $3.88B13.2%up Benchmark median 9.9% | $3.43B48.3%up Benchmark median -0.7% | $2.31Bn/m Benchmark median 10.7% | 19.0% Benchmark median 7.0% |
| Capital Expenditures | — | — | — | $25.00M0.0%unchanged Benchmark median 14.0% | $25.00M32.4%down Benchmark median 8.1% | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | — | — | $3.40B48.8%up Benchmark median -11.3% | $2.29Bn/m Benchmark median 10.2% | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Enterprise yield
What a dollar of enterprise value earned
3.4%
Wall Street
on EBITDA
FY2024 3.4%
3.4%
Value investor
on EBIT
FY2024 3.4%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 29.5×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
9.7%
Wall Street
on book equity
FY2024 9.9%
8.8%
Value investor
on tangible book
FY2024 9.0%
Gap −0.9 pts: Value-investor figure 0.9 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 10.3×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
30.2%
Wall Street
ROE: net income ÷ equity
FY2024 31.9%
n/m
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
20.9%
Wall Street
EBITDA margin
FY2024 23.1%
— Not reported
Value investor
Free-cash-flow margin
FY2024 — Not reported
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.38×
Wall Street
Current ratio
FY2024 1.69×
1.38×
Value investor
Quick ratio, inventory excluded
FY2024 1.69×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
1.28×
Wall Street
EBITDA ÷ total debt
FY2024 1.29×
— Not reported
Value investor
FCF ÷ total debt
FY2024 — Not reported
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on ABNB yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on ABNB and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/ABNB
Valuein. (2026, October 31). Airbnb, Inc. (ABNB) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/ABNB
@misc{valuein_abnb_2026,
author = {{Valuein}},
title = {Airbnb, Inc. (ABNB) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/ABNB}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 12, 2026 · accession 0001559720-26-000004
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point-in-time · survivorship-free · every number traceable to its SEC filing
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