Airbnb, Inc. (ABNB)
POSITIVEFundamental
75
Kurs
$190.42
Marktkapitalisierung
$113.90B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Airbnb runs an online marketplace that connects travelers with hosts renting out rooms, homes and, increasingly, local experiences and services. It never owns the properties listed: hosts set their own prices and availability, and Airbnb's software handles search, booking, payment and reviews. The company takes a cut of each transaction from both the guest and the host, functioning more like a matchmaking platform than a traditional hotel operator.
Wie das Geld verdient wird
Revenue is a service fee charged on each booking, split between a percentage taken from the host's payout and a separate fee added to the guest's price, so revenue rises directly with the total dollar value of trips booked on the platform. Because Airbnb owns no real estate, its costs are mostly software, marketing and customer support rather than property upkeep, letting incremental bookings convert to profit at a high rate once the platform is built.
Umsatz nach Segment
Bookings across the United States and Canada, Airbnb's largest and most mature market, though growth here has slowed to single digits.
Bookings across Europe, the Middle East and Africa, Airbnb's fastest-growing large region in the most recent year.
Bookings across Latin America, a smaller region that has recently grown faster than Airbnb's home US market.
Bookings across Asia-Pacific markets, similarly small in dollar terms but growing quickly off a lower base.
Wettbewerbsvorteil
Netzwerkeffekte · SchmalMore listings attract more travelers, and more travelers searching the platform attract more hosts to list, which is the classic two-sided network effect. But switching costs are low: a host can list the same property on a rival site with a few clicks, so the advantage depends on staying the largest marketplace rather than on any lock-in.
Was die Nachfrage antreibt
ZyklischTravel spending is discretionary and among the first things households cut when budgets tighten, so bookings track consumer confidence and disposable income. Demand is also seasonal within each year and sensitive to currency swings that make international trips cheaper or more expensive for travelers from a given country.
Wichtigste Risiken
- Regulation of short-term rentals — Cities and countries increasingly restrict or ban short-term home rentals, as New York City has done; if more major markets follow, Airbnb's inventory of listings and bookings would shrink.
- Dependence on host supply — Airbnb depends on hosts choosing to list, and to keep listing, on its platform rather than a competitor's or a long-term rental market; anything that reduces host participation directly reduces the business.
- Competition from hotels and platforms — Traditional hotel chains and other booking platforms compete for the same travelers, and hotels have the resources to lobby for regulation that favors licensed lodging over private rentals.
- Sensitivity to travel spending — Because travel is discretionary spending, a recession or a shock to consumer confidence anywhere in the world can reduce bookings quickly and simultaneously across regions.
Die Argumente dafür
Buyers argue that Airbnb's marketplace of millions of listings across almost every country gives it a scale advantage few rivals can match, and that expansion into experiences and services opens new revenue without needing new travelers.
Die Argumente dagegen
Sellers worry that city-by-city bans on short-term rentals could steadily shrink the available inventory of listings, that switching a listing to a competing platform costs a host almost nothing, and that travel spending is one of the first things households cut when money is tight.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
Generated on 23. August 2026 with claude-opus-5 — shared with all users
Booking.com is the world's largest online travel agency and has built the biggest alternative-accommodation inventory outside Airbnb, so the two bid for the same hosts and the same travellers booking a home or an apartment, above all in Europe.
Through Vrbo, Expedia runs the other large whole-home rental marketplace in the United States, competing for the same property managers and the same family and group trips that Airbnb targets.
Marriott is the largest hotel group and, with Homes & Villas by Marriott Bonvoy, sells short-term home stays to the same leisure traveller, using its loyalty programme to keep the booking inside its own channel.
Trip.com Group is the dominant travel booking platform in China and across Asia-Pacific, competing with Airbnb for outbound Asian travellers and for accommodation supply in the region Airbnb is trying to expand into.
Hilton competes for the same nights of paid lodging, especially in cities where a mid-range hotel room and an Airbnb listing are interchangeable choices for the same traveller.
GetYourGuide sells tours and local activities to travellers at destination, the same market Airbnb Experiences competes in and which Airbnb names among its competitors.
Bilanz & Liquidität
Umsatz
$13.16B
Letzte 12 Monate (bis 30.6.2026)
Nettogewinn
$2.69B
Letzte 12 Monate (bis 30.6.2026)
Freier Cashflow
-
Gesamtes Eigenkapital
$8.20B
Gesamtverbindlichkeiten
$14.01B
Current Ratio
1.41
Zinsdeckungsgrad
-
Schulden/EBITDA
0.90
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$148.11
Aktueller Kurs
$190.42
Sicherheitsmarge
-28.6%
Innerer-Wert-Spanne
$110.27 - $185.96
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
43.33
ROE
30.6%
P/B-Verhältnis
-
P/FCF
-
Bruttomarge
82.9%
ROIC
20.3%
Rentabilitäts-Radar
Value Creation (Economic Moat)
ROIC
20.3%
WACC
11.0%
ROIC − WACC
+9.3 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamentalanalyse-Kriterien
Bestanden (15)
- EPS shows upward trend
- ROIC 20.3%
- Gross Margin 82.9%
- Debt/Equity ratio
- Operating Margin 20.8%
- Current Ratio
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 33.4%
- Revenue Growth 5Y 29.4%
- Analyst Consensus 56% Buy
- Earnings Quality (OCF/NI) 1.81
- Share Dilution -3.3%
- Piotroski F-Score 5/9
Nicht bestanden (4)
- Price CAGR 4.15%
- DCF valuation (Unknown)
- Earnings Surprise avg -7.1%
- Net Margin Trend 20.4% vs 22.7%
Nicht verfügbar (8)
- P/FCF NaN
- P/B Ratio NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit
Gewinnqualität
Hohe Qualität: Gewinne durch Cashflow gedeckt
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Brian Chesky | Co-Founder, CEO & Chairman of the Board | 43 |
| Mr. Nathan Blecharczyk | Co-Founder, Chief Strategy Officer & Director | 41 |
| Mr. Joseph Gebbia | Co-Founder & Director | 43 |
| Ms. Elinor B. Mertz | Chief Financial Officer | 48 |
| Mr. Gus Fuldner | Head of Global Operations | - |
| Mr. David C. Bernstein | Chief Accounting Officer | 63 |
| Mr. Ahmad Al-Dahle | Chief Technology Officer | - |
| Ms. Angela Yang | Director of Investor Relations | - |
| Mr. Ronald A. Klain J.D. | Chief Legal Officer | - |
| Mr. Jay Carney | Global Head of Policy & Communications | - |
Prüfungsrisiko
9
Vorstandsrisiko
10
Vergütungsrisiko
9
Aktionärsrechterisiko
10
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Latest News
Recent headlines for ABNB, sourced from Markets Gazette.
- 19d agoPOSITIVEAirbnb Jumps After Raising Its 2026 Revenue Outlook Again
Airbnb Inc. shares experienced a significant surge, marking their largest gain in 16 months following a second upward revision of the company's annual revenue forecast for 2026. This optimistic outlook is underpinned by sustained strong demand observed in both the US and European markets. The repeated enhancement of its revenue projections signals robust business performance and positive market reception, likely encouraging investors and analysts to re-evaluate the company's growth trajectory and future earnings potential.
- 7/16/2026NEGATIVEAirbnb CEO Brian Chesky’s X account was hijacked in an AI slop hack pushing crypto tokenization
Airbnb CEO Brian Chesky's X (formerly Twitter) account was reportedly compromised in an "AI slop hack" that promoted cryptocurrency tokenization. While the hack targeted the CEO's personal account and not Airbnb's corporate systems, such incidents can erode trust and raise concerns about digital security. Investors may view this as a reputational risk, potentially impacting consumer confidence in the platform's security measures. The incident highlights the growing threat of AI-driven cyberattacks and their potential to affect high-profile individuals and their associated companies.
- 5/9/2026POSITIVEAirbnb Reveals AI Agents Now Handle 60% Of New Coding— CEO Brian Chesky Says That Allows One Engineer To Do Work Of 20
Airbnb reported that AI generated 60% of its new code in the first quarter, a significant leap in operational efficiency. This advancement, coupled with strong revenue growth and expanding AI-driven operations, suggests a substantial increase in productivity. CEO Brian Chesky highlighted that this allows one engineer to perform the work of twenty. For investors, this indicates a potential for significant cost savings and accelerated development cycles, positioning Airbnb for enhanced profitability and competitive advantage in the travel technology sector.
- 5/7/2026POSITIVEAirbnb is seeing some of its fastest growth from this surprising segment
Airbnb is experiencing robust growth in a previously unexpected segment: hotel bookings. This strategic pivot, launched recently, is showing early signs of significant demand, potentially diversifying its revenue streams beyond traditional short-term rentals. While the company navigates geopolitical disruptions like the Iran war, the success of its hotel offering suggests a strong market reception and could lead to increased bookings and revenue. Investors will be watching this segment closely as it represents a key area of future expansion and potential market share gains.
- 4/22/2026NEUTRALPerformance Comparison: Airbnb And Competitors In Hotels, Restaurants & Leisure Industry
The article provides a performance comparison of Airbnb against its competitors within the Hotels, Restaurants & Leisure industry. While specific financial figures or market share data are not detailed in the provided snippet, the focus on comparative performance suggests an analysis of market positioning and competitive dynamics. Investors should note that such comparisons are crucial for understanding a company's strategic standing and potential for future growth or market share erosion. The lack of explicit positive or negative catalysts indicates a neutral stance pending further details on the performance metrics.
- 3/27/2026NEGATIVEAirbnb Stock Falls As Inflation, Energy Costs Pressure Travel Outlook
Airbnb shares declined Friday, mirroring a broader downturn in travel stocks. The slump is attributed to escalating energy costs, persistent inflation concerns, and a dip in consumer confidence, all of which can dampen discretionary spending on travel. Investors are weighing the potential impact of these macroeconomic headwinds on future booking volumes and profitability for companies in the travel and hospitality sector. The current environment suggests a cautious outlook for the industry.
- 3/12/2026NEGATIVEAirbnb Stock Slides As Middle East Tensions Threaten Global Travel Demand
Airbnb Inc. (NASDAQ: ABNB) experienced a significant decline in its stock value as geopolitical tensions in the Middle East escalated, casting a shadow over global travel demand. Investors are closely monitoring the situation, as disruptions to international travel could directly impact booking volumes and revenue for the company. The uncertainty surrounding the conflict's duration and scope poses a risk to Airbnb's forward-looking guidance and growth projections, leading to a cautious market sentiment.
- 3/12/2026NEUTRALAirbnb Plans High-Grade Bond Debut as Convertible Deal Comes Due
Airbnb Inc. is reportedly preparing for its first high-grade bond offering, a move that comes as its existing convertible notes approach their maturity date. This strategic financial maneuver aims to refinance its debt obligations and potentially strengthen its balance sheet. While the issuance of high-grade bonds typically signals financial stability and a commitment to deleveraging, the immediate market impact is neutral as it represents a refinancing rather than new capital injection or a significant change in operational outlook. Investors will monitor the terms of the bond offering for insights into Airbnb's cost of capital and future financial strategy.
via Markets Gazette