Sabre Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Sabre Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,373	3,598	3,867	3,975	1,334	1,689	2,537	2,642	2,745	2,771
Cost of revenue	2,288	2,514	1,654	1,726	579	691	1,041	1,076	1,146	1,207
Gross profit	1,086	1,085	2,213	2,249	755	997	1,496	1,566	1,599	1,564
Selling, general and administrative	626	510	552	600	586	610	661	583	576	557
Operating income	460	493	562	363	-988	-665	-261	32.2	242	295
Interest expense	158	154	157	156	226	258	295	448
Other non-operating income	-132	-116	-164	-164	-317	-273	-162	-490	-509	-535
Pre-tax income	328	378	398	200	-1,305	-938	-423	-458	-267	-239
Income tax	86.6	128	57.5	35.3	-21	-14.6	8.67	33.6	4.11	16.3
Net income to minority interests	4.38	5.11	5.13	3.95	1.2	2.16	2.67	-0.33	0.08	-0.66
Net income	243	243	338	159	-1,282	-928	-435	-528	-279	525
EBITDA	693	758	866	674	-624	-403	-76.4	153	351	401
EPS, basic	0.87	0.87	1.23	0.57	-4.45	-2.96	-1.40	-1.56	-0.73	1.34
EPS, diluted	0.86	0.87	1.22	0.57	-4.45	-2.96	-1.40	-1.56	-0.73	1.34
Shares, basic (weighted)	278	277	275	274	290	321	327	347	384	392
Shares, diluted (weighted)	283	278	278	276	290	321	327	347	384	392
Dividend per share	0.13	0.56	0.56	0.56	0.14	0.00	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	364	361	509	436	1,500	978	795	648	724	792
Receivables	401	491	508	547	255	260	354	343	287	312
Other current assets	88.6	109	170	139	133	122	192	146	76.5	74.1
Total current assets	853	961	1,188	1,122	1,888	1,402	1,361	1,159	1,163	1,296
Property, plant and equipment	753	799	790	642	363	250	229	234	234	255
Lease right-of-use assets				64.2	125	99.6	85.2	69.9	66.8	57.5
Goodwill	2,548	2,555	2,552	2,633	2,637	2,470	2,542	2,384	2,383	2,384
Intangible assets	775	683	613	574	511	441	410	376	315	285
Other non-current assets	673	592	611	670	630	475	358	317	273	255
Total assets	5,725	5,649	5,806	5,690	6,078	5,291	4,963	4,672	4,635	4,502
Accounts payable	169	163	165	187	115	123	171	232	243	260
Deferred revenue	187	111	80.9	84.7	99.5	81.1	66.5	108	60.2	58.4
Short-term debt	169	57.1	68.4	81.6	26.1	29.3	23.5	4.04	230	246
Total current liabilities	1,166	972	1,018	1,026	622	717	816	915	1,142	1,214
Long-term debt	3,276	3,399	3,337	3,262	4,718	4,724	4,717	4,829	4,835	4,103
Lease liabilities			0	50	97.4	79.4	68.1	56.3	52.5	45.4
Other non-current liabilities	567	480	340	348	381	297	264	259	204	173
Total liabilities	5,099	4,951	4,832	4,742	5,793	5,791	5,836	6,048	6,240	5,539
Total debt	3,446	3,456	3,406	3,343	4,744	4,753	4,741	4,834	5,065	4,349
Paid-in capital	2,106	2,174	2,243	2,318	2,985	3,116	3,199	3,250	3,304	3,351
Retained earnings	-1,141	-1,053	-769	-763	-2,100	-3,050	-3,507	-4,048	-4,327	-3,803
Treasury stock	-222	-342	-378	-469	-475	-498	-514	-520	-527	-537
Other comprehensive income	-123	-88.5	-133	-149	-136	-80.3	-65.7	-73.9	-73.7	-66.7
Minority interests	2.58	5.2	7.21	8.59	7.03	9.19	11.5	12.7	14.4	14.5
Total equity	626	699	974	948	285	-500	-873	-1,376	-1,605	-1,036
Total liabilities and equity	5,725	5,649	5,806	5,690	6,078	5,291	4,963	4,672	4,635	4,502
Shares outstanding	277	274	275	274	317	324	329	380	386	395

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	247	248	343	163	-1,281	-926	-433	-528	-279	524
Depreciation and amortization	233	265	304	311	364	262	185	121	110	106
Stock-based compensation	48.5	44.7	57.3	66.9	69.9	121	82.9	46.7	49	45.7
Deferred income tax	48.5	48.8	43.1	-22.9	-27.3	-27.5	-17.3	19.1	-1.8	5.13
Change in receivables	-12.9	-109	-45.6	-33.9	205	-17.9	-122	18.3	18	-65.3
Change in payables	56.8	67	-27.1	-27.2	-304	70.3	131	49.4	37	126
Cash from operations	699	678	725	581	-770	-415	-276	67.4	70.2	-109
Capital expenditures	-328	-316	-284	-115	-65.4	-54.3	-69.5	-80.9	-79.5	-82.9
Acquisitions	-164	0	0	-107	0	0	-68.8	-12	0
Purchases of investments						0	-80	-11.2	0	0
Sales and maturities of investments	46	0	0	0	68.5	24.9
Cash from investing	-446	-318	-275	-243	-1.29	-29.4	174	-110	-29.6	-73.8
Debt issued	1,055	1,898	0	45	2,982	1,070	1,819	1,530	1,755	3,098
Debt repaid	-1,000	-1,881	-47.3	-107	-1,534	-1,061	-1,823	-1,574	-1,751	-3,687
Stock issued			0	0	275	0	0
Share buybacks	-100	-109	-26.3	-77.6	0	0
Dividends paid	-144	-155	-154	-154	-38.5	0	0
Cash from financing	-190	-357	-307	-410	1,838	-50.6	-75.4	-94.2	39.6	-686
Exchange rate effect	-1.11	-1.61	6.75	0.78	0.22	-2.14	-2.36	1.71	-4.28	4.45
Net change in cash	43	-2.73	148	-73.1	1,063	-500	-183	-147	76.3	165
Free cash flow	372	362	441	466	-836	-469	-346	-13.6	-9.28	-192
Interest paid	151	150	156	158	186	247	286	395	383	589
Income taxes paid	39	40.2	57.6	55.1	24.5	14.7	15.6	24	18	14.9

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.18 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	56.2%	Gross profit / revenue.
Operating margin	11.3%	Operating income / revenue.
EBITDA margin	15.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-4.9%	Pre-tax income / revenue.
Net margin	25.1%	Net income / revenue.
FCF margin	-0.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.6%	Cash from operations / revenue.
Return on assets (ROA)	16.4%	Net income / average total assets.
SG&A / revenue	20.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.2%	Capital expenditures / revenue.
D&A / revenue	3.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	15.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	22.2%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	14.2%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-255.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-2.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-5.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	2.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	6.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	6.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.02x	Current assets / current liabilities.
Quick ratio	0.92x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.59x	(Cash + short-term investments) / current liabilities.
Debt / assets	98.7%	Total debt / total assets.
Liabilities / assets	124.1%	Total liabilities / total assets.
Net debt	$3.64B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	8.43x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$28.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	54.5%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.65x	Revenue / average total assets.
Fixed asset turnover	10.5x	Revenue / average property, plant and equipment.
Receivables turnover	7.55x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	64 days	365 x average accounts payable / cost of revenue.
FCF conversion	-2.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	121.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.80	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.15	Revenue / diluted weighted shares.
FCF per share	-$0.04	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.19	Cash from operations / diluted weighted shares.
Cash per share	$1.68	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$879.8M	Share price x shares outstanding.
Enterprise value	$4.52B	Market cap + total debt - cash - short-term investments.
P/E	1.23x	Market cap / net income. Only when net income is positive.
P/S	0.31x	Market cap / revenue.
P/OCF	11.7x	Market cap / cash from operations, when positive.
EV/Sales	1.58x	Enterprise value / revenue.
EV/EBIT	14.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.5x	Enterprise value / EBITDA, when both are positive.
FCF yield	-1.9%	Free cash flow / market cap.
Earnings yield	81.6%	Net income / market cap (the inverse of P/E).

What was Sabre Corp's revenue in fiscal 2025?

Sabre Corp reported revenue of $2.77B for fiscal 2025, 1% higher than the year before.

Was Sabre Corp profitable in fiscal 2025?

Yes. Net income was $524.6M, a net margin of 18.9%.

How much free cash flow did Sabre Corp generate in fiscal 2025?

Cash from operations of $108.9M minus capital expenditures of $82.9M left free cash flow of -$191.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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