Airbnb, Inc. (ABNB)
NASDAQ:ABNB
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Airbnb
(NASDAQ:ABNB)
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Rating:75Outperform
Price Target:
$142.00
▲(0.32% Upside)
Action:Reiterated
Date:03/17/26
The score is driven primarily by strong financial performance (high margins, robust and rising free cash flow, and conservative leverage) and a positive earnings call with confident 2026 growth guidance and stable margin outlook. These strengths are moderated by weaker technical positioning (trading below major moving averages) and a growth-priced valuation (P/E ~33 with no dividend), with the debt refinancing modestly positive but adding fixed-rate interest burden.
Positive Factors
Free Cash Flow Strength
Sustained FCF (~$4.5B TTM, ~36% margin) and operating cash flow parity with net income (~1.0x) provide durable internal funding. This supports buybacks, reinvestment in product and AI, and buffer through cycles without needing frequent external financing.
Negative Factors
Revenue Growth Deceleration
A marked slowdown in top-line growth to ~3% TTM signals maturation pressures and more difficult comps. Persistently slower revenue growth constrains absolute EBITDA and FCF expansion, forcing a heavier reliance on take-rate, product mixes, or cost actions to sustain margin progress.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Sustained FCF (~$4.5B TTM, ~36% margin) and operating cash flow parity with net income (~1.0x) provide durable internal funding. This supports buybacks, reinvestment in product and AI, and buffer through cycles without needing frequent external financing.
Read all positive factors
Airbnb Key Performance Indicators (KPIs)
Any
Gross Booking Value
Reflects the total dollar amount of all bookings on the platform, indicating the overall demand and popularity of Airbnb's offerings and its ability to capture market share in the travel industry.
Reflects the total dollar amount of all bookings on the platform, indicating the overall demand and popularity of Airbnb's offerings and its ability to capture market share in the travel industry.
Data provided by:
The Fly
The FlyAirbnb (ABNB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$79.97B
Dividend YieldN/A
Average Volume (3M)3.79M
Price to Earnings (P/E)118.0
Beta (1Y)1.30
Revenue Growth13.18%
EPS Growth2.35%
CountryUS
Employees7,300
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)4.12
Shares Outstanding417,930,240
10 Day Avg. Volume3,980,547
30 Day Avg. Volume3,788,004
Financial Highlights & Ratios
PEG Ratio-15.43
Price to Book (P/B)10.15
Price to Sales (P/S)6.80
P/FCF Ratio17.91
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue5.85
Enterprise Value/Gross Profit7.06
Enterprise Value/Ebitda28.82
Forecast
1Y Price Target
$162.80Price Target Upside15.01% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering30
EPS Forecast (FY)5.13
Revenue Forecast (FY)$13.95B
Airbnb Business Overview & Revenue Model
Company Description
Airbnb, Inc., together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and ...
How the Company Makes Money
Airbnb primarily makes money by charging fees related to bookings made on its platform. The company’s core revenue stream is service fees assessed on accommodation reservations (and, where applicable, other booked offerings such as experiences). T...
Airbnb Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call communicated broad and measurable momentum across core metrics (revenue +18%, GBV +19%, adjusted EBITDA +24%, strong FCF) driven by product initiatives (Reserve Now, Pay Later), AI efficiency gains, event-driven supply boosts, and international expansion. Management raised full-year guidance and signaled continued reinvestment behind marketing, international growth and AI. Key near-term headwinds include conflict-driven cancellations (~100 bps impact on nights), an approximately $70 million one-time tax adjustment, higher cancellations and cash-timing effects from RNPL, and FX/ADR variability. On balance, positive operational progress and the guidance raise outweigh the identifiable challenges.Positive Updates
Revenue and GBV Beat Expectations
Revenue grew 18% year-over-year to $2.7 billion, exceeding the high end of guidance. Gross booking value (GBV) grew 19% year-over-year to $29 billion with consistent sequential acceleration over the last four quarters.
Negative Updates
Geopolitical Headwinds and Cancellations
Conflict in the Middle East created an approximate 100 basis point headwind to Nights and Seats Booked and caused cancellation-related deceleration in March; management expects a similar ~100 bps headwind to nights growth in Q2.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and GBV Beat Expectations
Revenue grew 18% year-over-year to $2.7 billion, exceeding the high end of guidance. Gross booking value (GBV) grew 19% year-over-year to $29 billion with consistent sequential acceleration over the last four quarters.
Read all positive updates
Company Guidance
Airbnb raised its 2026 outlook: for Q2 it expects revenue of $3.54–$3.60 billion (up 14–16% year‑over‑year) including an approximate 3% FX tailwind after hedging, GBV to grow in the low double‑digits, a moderate increase in ADR (with a significantly lower FX tailwind to ADR than Q1), and a slight deceleration in Nights & Seats Booked versus Q1’s 9% (assuming an approximate 100 bps headwind from the Middle East conflict); management also expects adjusted EBITDA and adjusted EBITDA margin to be up year‑over‑year in Q2. For full‑year 2026 the company now expects revenue growth to accelerate to the low‑to‑mid‑teens and adjusted EBITDA margin to be at least 35%, while continuing to reinvest in efficient marketing, international expansion and AI and capture modest take‑rate upside from fee‑simplification and insurance.Airbnb Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.65B | 12.24B | 11.10B | 9.92B | 8.40B | 5.99B |
| Gross Profit | 10.49B | 10.15B | 9.22B | 8.21B | 6.90B | 4.84B |
| EBITDA | 2.57B | 2.54B | 2.62B | 1.56B | 1.97B | 276.00M |
| Net Income | 2.52B | 2.51B | 2.65B | 4.79B | 1.89B | -352.00M |
Balance Sheet | ||||||
| Total Assets | 26.83B | 22.21B | 20.96B | 20.64B | 16.04B | 13.71B |
| Cash, Cash Equivalents and Short-Term Investments | 12.06B | 11.01B | 10.61B | 10.07B | 9.62B | 8.32B |
| Total Debt | 2.53B | 2.07B | 2.29B | 2.30B | 2.34B | 2.42B |
| Total Liabilities | 19.19B | 14.01B | 12.55B | 12.48B | 10.48B | 8.93B |
| Stockholders Equity | 7.64B | 8.20B | 8.41B | 8.16B | 5.56B | 4.78B |
Cash Flow | ||||||
| Free Cash Flow | 4.55B | 4.65B | 4.52B | 3.88B | 3.40B | 2.31B |
| Operating Cash Flow | 4.57B | 4.65B | 4.52B | 3.88B | 3.43B | 2.31B |
| Investing Cash Flow | -1.06B | -748.00M | -616.00M | -1.04B | -28.00M | -1.35B |
| Financing Cash Flow | -3.00B | -3.83B | -3.57B | -2.43B | -689.00M | 1.31B |
Airbnb Technical Analysis
Negative
141.55
Price Trends
134.30
Negative
132.28
Negative
128.45
Positive
Market Momentum
-1.03
Positive
43.05
Neutral
44.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABNB, the sentiment is Negative. The current price of 141.55 is above the 20-day moving average (MA) of 136.36, above the 50-day MA of 134.30, and above the 200-day MA of 128.45, indicating a neutral trend. The MACD of -1.03 indicates Positive momentum. The RSI at 43.05 is Neutral, neither overbought nor oversold. The STOCH value of 44.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ABNB.
Airbnb Risk Analysis
Airbnb disclosed 54 risk factors in its most recent earnings report. Airbnb reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Airbnb Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $79.97B | 117.99 | 31.24% | ― | 13.18% | 2.35% | |
67 Neutral | $26.76B | -1,172.03 | 154.33% | 0.56% | 10.01% | 33.63% | |
66 Neutral | $30.79B | 19.53 | 21.02% | 0.39% | 17.27% | 94.65% | |
62 Neutral | $126.54B | 30.71 | -95.80% | 0.71% | 14.95% | 17.45% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $4.01B | 37.34 | -38.21% | ― | 6.71% | -41.74% | |
52 Neutral | $1.17B | -9.49 | 2.86% | ― | 2.03% | -64.68% |
* Consumer Cyclical Sector Average
ABNB
Airbnb
132.10
3.43
2.67%
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BKNG
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Airbnb Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Airbnb Refinances Convertible Debt With New Senior Notes
Positive
Mar 16, 2026
On March 12, 2026, Airbnb, Inc. entered an underwriting agreement with major investment banks to issue $2.5 billion of senior unsecured notes across three tranches maturing in 2029, 2031 and 2036, with coupons ranging from 4.400% to 5.250%. The no...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.