Airbnb vs Royal Caribbean Group
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KIRAβs take AI analyst
I put Airbnb and Royal Caribbean Group side by side, using each oneβs latest annual report. Here is what stands out:
- Royal Caribbean Group is the larger business, with $17.9B of revenue in fiscal 2025 against $12.2B for Airbnb.
- Airbnb grew revenue faster (10.3%, against 8.8%).
- Royal Caribbean Group kept more of each dollar of sales as operating profit (27.4% operating margin, against 20.8%).
- Investors pay more for each dollar of Airbnbβs earnings: a P/E of 38.9x against 17.3x for Royal Caribbean Group.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Airbnb
ABNB
4/9
Revenue growthGross marginNet debt / EBITDAShare count change
Royal Caribbean Group
RCL
5/9
5-year growthOperating marginNet marginReturn on equityPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | ABNB FY25 | RCL FY25 |
|---|---|---|
| Size | ||
| Market cap | $102.1B | $75.2B |
| Revenue | $12.2B | $17.9B |
| Free cash flow | β | $1.2B |
| Net income | $2.5B | $4.3B |
| Growth | ||
| Revenue growth | 10.3% | 8.8% |
| 5-year growth | 29.4% | 52.0% |
| Share count change | β3.4% | β1.8% |
| Profitability | ||
| Gross margin | 83.0% | 49.4% |
| Operating margin | 20.8% | 27.4% |
| Net margin | 20.5% | 23.8% |
| FCF margin | β | 6.9% |
| Return on capital | β | 16.6% |
| Return on equity | 30.2% | 48.5% |
| Balance sheet | ||
| Net debt | β$9.0B | $20.5B |
| Net debt / EBITDA | β3.5x | 3.1x |
| Dividends and buybacks | $3.8B | $2.0B |
| Valuation & quality | ||
| P/E | 38.9x | 17.3x |
| Piotroski F-score | 6 | 9 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.