Airbnb, Inc. (ABNB) vs Travel + Leisure Co. (TNL)

Airbnb, Inc. and Travel + Leisure Co. are both Travel Services companies. Airbnb, Inc. is the larger, with a market value of $99.7B against $4.3B — 23.1× the size. Travel + Leisure Co. trades at the lower P/E: 19.1× against 36.8×. Airbnb, Inc. grew revenue faster over the last twelve months: 13.6% against 4.55%. Airbnb, Inc. has the higher net margin (20.5% vs 5.79%) and the lower return on invested capital (0.00% vs 8.30%). Across the 20 metrics below, Airbnb, Inc. leads on 10 and Travel + Leisure Co. on 10.

Valuation

Metric ABNB TNL Travel Services median
P/E 36.85 19.07 18.87
P/S 7.39 1.09 2.77
P/B 12.47 n/m 2.96
Price to free cash flow 20.26 9.86 11.93
EV/EBITDA 32.76 16.79 13.53
EV/Sales 6.82 2.82 3.50
Earnings yield 2.71% 5.24% 4.35%
Free cash flow yield 4.93% 10.14% 4.47%

Profitability

Metric ABNB TNL Travel Services median
Gross margin 82.90% 45.13% 66.03%
Operating margin 20.81% 13.68% 15.53%
Net margin 20.45% 5.79% 7.72%
Free cash flow margin 36.93% 11.04% 7.43%
Return on equity 34.54% (25.31%) 7.53%
Return on assets 9.65% 3.46% 3.74%
Return on invested capital 0.00% 8.30% 5.51%

Growth

Metric ABNB TNL Travel Services median
Revenue growth (TTM) 13.64% 4.55% 12.43%
EPS growth (last fiscal year) (1.95%) (40.89%) 5.97%
Revenue growth, 5-year CAGR 29.37% 13.23% 29.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ABNB TNL Travel Services median
Debt to equity 0.32 (5.60) 0.17
Current ratio 1.41 3.15 1.33
Net debt to EBITDA (3.54) 7.64 1.01

Dividend

Metric ABNB TNL Travel Services median
Dividend yield — 3.30% 1.55%
Payout ratio — 0.64 0.20

Size

Metric ABNB TNL Travel Services median
Market cap 99.67b 4.31b 4.31b

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