Airbnb, Inc. (ABNB)
Consumer Discretionary · Hotels, Resorts & Cruise Lines · US stock · S&P 500 component
$175.76
▲ +2.07 (1.19%)
Fair valueFair
$157 −10.7% to fair value
$78fair band $134–$190$235
Day's range
$172.52 – $176.55
52-week range
$110.81 – $193.45
About Airbnb, Inc.
Airbnb runs an online marketplace that connects people who want to rent out homes and unique places with travellers looking for stays and experiences. Hosts set their own prices and rules, while the company handles search, payments, reviews and customer support. It earns money by charging service fees to guests and hosts on each booking, so its revenue follows travel demand and the number of nights booked on the platform.
Revenue over the last twelve months came to $13.2 billion, and sales grew by 13.4% a year on average across the past three years. Operating margin is 20.8%. Net debt to EBITDA is -3.5 times, which means it holds more cash than debt. The company does not pay a dividend. The X-Ray Score is 52 out of 100. These figures describe past results and the present financial position only.
Price chart
52-wk range $110.81 – $193.45Volume 3,579,061Daily, split-adjusted
Vitals
Market cap$104.9B
52-week range$110.81 – $193.45
Volume (last day)3,579,061
P/E (TTM)40.0
EBIT / EV yield2.9%
Free-cash-flow yield–
Dividend yieldNo dividend
Revenue (TTM)$13.2B
Net income (TTM)$2.7B
Operating margin20.8%
Return on capital–
Debt incl. leases$2.5B
Cash & securities$12.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$157middle half of models $153 – $187
Fair
−10.7% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $176
Undervalued < $134Fair $134 – $190Overvalued > $190
P/E multiple
$171
P/B multiple
$153
P/S multiple
$164
EV/EBITDA multiple
$161
EV/EBIT multiple
$173
EV/revenue multiple
$169
10-year DCF, EBITDA exit
$187
5-year DCF, EBITDA exit
$196
10-year DCF, revenue exit
$188
5-year DCF, revenue exit
$196
10-year DCF, growth exit
$97
5-year DCF, growth exit
$91
Earnings power value
$93
Growth the price implies
26.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
18/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield2.9%
Fair value vs price0.9×
Growth
Strong
79/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)13.4%
Growth consistency100%
Profitability
Fair
52/100
Returns on capital are typical for its sector.
See the numbers →
Operating margin20.8%
Gross profitability37.9%
Financial health
Fair
67/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA-3.5×
Interest coverNo interest cost
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+6.1%
Mar '25
+12.7%
Jun '25
+9.7%
Sep '25
+12.0%
Dec '25
+17.9%
Mar '26
+16.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.6B.
Compare with peers
BKNG Booking Holdings Inc.70 EXPE Expedia Group, Inc.62 CCL Carnival Corp Ltd.56 NCLH Norwegian Cruise Line...47Other Hotels, Resorts & Cruise Lines companies by X-Ray Score.
SWOT analysis: Airbnb, Inc.
Strengthsinside the company
- Operating margin of 20.8% is well above the 16.0% median of industry peers, a sign of pricing power or lower costs.
- Revenue has grown 13.4% a year over three years (median 16.3% for industry peers).
- Cash exceeds debt (net debt is negative), which gives room to invest or ride out a downturn.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Trades at 39.0x earnings, 121% above the 17.7x median of industry peers, so the price already assumes better results.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare ABNB with peers and sector
Medians of 7 Hotels, Resorts & Cruise Lines peers and of 46 Consumer Discretionary stocks in our universe.
Largest peers (X-Ray Score): BKNG 70, MAR 42, HLT 39, RCL 43, CCL 56, EXPE 62.
| Metric | ABNB | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 52 | 47 | 50 |
| Valuation | 18 | 62 | 49 |
| Growth | 79 | 67 | 50 |
| Profitability | 52 | 52 | 52 |
| Financial health | 67 | 42 | 49 |
| Dividends | – | 40 | 52 |
Sector leaders: highest X-Ray Score in Consumer Discretionary
ABNB ranks #21 of 47 in Consumer Discretionary and #4 of 8 in Hotels, Resorts & Cruise Lines by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for ABNB
Each factor is rated by where ABNB stands among the 47 Consumer Discretionary stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 12 Good · 2 Average · 4 Bad of 18
Growth: 2 · 0 · 0
Profitability: 3 · 1 · 0
Financial strength: 3 · 1 · 0
Valuation: 0 · 0 · 4
Cash flow: 3 · 0 · 0
Efficiency: 1 · 0 · 0
| Factor | ABNB | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +13.4% | Good beats 77% | +6.5% | – | – |
| Revenue growth, last year | +10.3% | Good beats 82% | +4.9% | +18.1% | ▼ Worse |
| Profitability | |||||
| Gross margin | 82.9% | Good beats 98% | 42.5% | 82.8% | ≈ In line |
| Operating margin | 20.8% | Good beats 79% | 14.9% | 20.8% | ≈ In line |
| Net margin | 20.5% | Good beats 90% | 11.4% | 22.5% | ≈ In line |
| Return on equity | 34.5% | Average beats 49% | 35.3% | 31.5% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | -3.5x | Good beats 96% | 1.8x | -4.1x | ▼ Worse |
| Interest cover | 50.0x | Good beats 76% | 25.3x | – | – |
| Current ratio | 1.41 | Good beats 71% | 1.10 | 1.69 | ▼ Worse |
| Piotroski F-score | 6 / 9 | Average beats 49% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 39.0x | Bad beats 17% | 21.1x | 31.4x | ▼ Worse |
| Price / book | 13.5x | Bad beats 26% | 7.2x | 10.5x | ▼ Worse |
| Price / sales | 8.0x | Bad beats 3% | 2.1x | 7.6x | ≈ In line |
| EV / EBITDA | 34.8x | Bad beats 6% | 15.0x | 29.8x | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 36.9% | Good beats 99% | 10.8% | 39.2% | ≈ In line |
| Cash from operations / net income | 1.81 | Good beats 69% | 1.37 | 1.76 | ≈ In line |
| Accruals (lower is better) | −7.5% | Good beats 74% | −5.3% | – | – |
| Efficiency | |||||
| Days sales outstanding | 6 days | Good beats 77% | 14 days | – | – |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 7 Good · ● 2 Average · ● 3 BadCash quality
Earnings backed by cashGood
Risk models
Altman Z''Average
Piotroski F-ScoreAverage
Growth
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Operating marginGood
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 61/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $6.0B | $8.4B | $9.9B | $11.1B | $12.2B |
| Operating income | $429M | $1.8B | $1.5B | $2.6B | $2.5B |
| Net income | −$352M | $1.9B | $4.8B | $2.6B | $2.5B |
| Operating cash flow | $2.3B | $3.4B | $3.9B | $4.5B | $4.6B |
| Operating margin | 7.2% | 21.5% | 15.3% | 23.0% | 20.8% |
| Free cash flow | $2.3B | $3.4B | – | – | – |
| Diluted EPS | – | – | – | – | – |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 171.2 | Bullish |
| EMA 10 | 171.7 | Bullish |
| SMA 20 | 165.7 | Bullish |
| EMA 20 | 169.0 | Bullish |
| SMA 50 | 172.3 | Bullish |
| EMA 50 | 166.7 | Bullish |
| SMA 100 | 159.3 | Bullish |
| EMA 100 | 160.4 | Bullish |
| SMA 200 | 145.8 | Bullish |
| EMA 200 | 150.9 | Bullish |
Oscillators (daily)
| RSI (14) | 60.99 | Neutral |
| MACD (12, 26) | 2.35 | Bullish |
| Momentum (12) | 9.58 | Bullish |
| Stochastic %K (14) | 83.54 | Bearish |
| Williams %R (14) | -16.46 | Bearish |
| CCI (20) | 113.2 | Bearish |
Pivot points (classic, last session)
S3 169.3 | S2 170.9 | S1 173.3 | Pivot 174.9 | R1 177.4 | R2 179.0 | R3 181.4 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold ABNB
| ETF | Share of the fund |
|---|---|
| AKRE Akre Focus | 2.90% |
| MOAT VanEck Morningstar Wide Moat | 2.56% |
| FDN First Trust Dow Jones Internet Index | 2.45% |
| VFLO VictoryShares Free Cash Flow | 2.12% |
| COWZ Pacer US Cash Cows 100 | 1.54% |
| XLY Consumer Discretionary Select Sector S... | 1.49% |
| QQQE Direxion NASDAQ-100 Equal Weighted Ind... | 1.16% |
| GARP iShares MSCI USA Quality GARP | 1.10% |
The eight funds with the largest weight in ABNB among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
ABNB SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
8-KSEC EDGAR
Entered a material agreement; Other events
10-KSEC EDGAR
Annual report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.