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Global Business Travel vs GXO Logistics: revenue, profit, margins and growth compared

Global Business Travel brought in $2.7B of revenue in fiscal 2025, GXO Logistics $13.2B in fiscal 2025. Revenue changed by +12.2% at Global Business Travel and +12.5% at GXO Logistics on the year before, so GXO Logistics grew faster. Global Business Travel kept 4.0% of its revenue as net profit, GXO Logistics 0.2%. Free cash flow was $104M at Global Business Travel and $110M at GXO Logistics.

Side by side, latest fiscal year

GBTGGXO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.7B$13.2B
Revenue growth+12.2%+12.5%
Net income$109M$32M
Net margin4.0%0.2%
Free cash flow$104M$110M
Free cash flow margin3.8%0.8%
Earnings per share (diluted)$0.22$0.28
Cash$434M$854M
Debt$1.4B$3.1B
Price to earnings43.2161.4
Market value$5B$5.2B
Dividend yieldn/an/a
Rank by revenue in sector#309 of 778 · Consumer discretionary#99 of 778 · Consumer discretionary

Over the years

Revenue
GBTG FY2020: $0GBTG FY2020: $793MGBTG FY2021: $763MGBTG FY2022: $1.9BGBTG FY2023: $2.3BGBTG FY2024: $2.4BGBTG FY2025: $2.7BGXO FY2019: $6.1BGXO FY2021: $6.2BGXO FY2021: $7.9BGXO FY2022: $9BGXO FY2023: $9.8BGXO FY2024: $11.7BGXO FY2025: $13.2BFY19FY20FY21FY22FY23FY24FY25
GBTG $2.7BGXO $13.2B
Net income
GBTG FY2020: -$1.9KGBTG FY2020: -$19.6MGBTG FY2021: $6.2MGBTG FY2022: -$25MGBTG FY2023: -$63MGBTG FY2024: -$138MGBTG FY2025: $109MGXO FY2019: $60MGXO FY2021: -$31MGXO FY2021: $153MGXO FY2022: $197MGXO FY2023: $229MGXO FY2024: $134MGXO FY2025: $32MFY19FY20FY21FY22FY23FY24FY25
GBTG $109MGXO $32M
Net margin
GBTG FY2020: -2.5%GBTG FY2021: 0.8%GBTG FY2022: -1.4%GBTG FY2023: -2.8%GBTG FY2024: -5.7%GBTG FY2025: 4.0%GXO FY2019: 1.0%GXO FY2021: -0.5%GXO FY2021: 1.9%GXO FY2022: 2.2%GXO FY2023: 2.3%GXO FY2024: 1.1%GXO FY2025: 0.2%FY19FY20FY21FY22FY23FY24FY25
GBTG 4.0%GXO 0.2%
Revenue growth
GBTG FY2021: -3.8%GBTG FY2022: +142.6%GBTG FY2023: +23.7%GBTG FY2024: +5.8%GBTG FY2025: +12.2%GXO FY2021: +1.7%GXO FY2021: +28.2%GXO FY2022: +13.3%GXO FY2023: +8.7%GXO FY2024: +19.7%GXO FY2025: +12.5%FY21FY22FY23FY24FY25
GBTG +12.2%GXO +12.5%
Free cash flow
GBTG FY2020: -$297MGBTG FY2021: -$556MGBTG FY2022: -$488MGBTG FY2023: $49MGBTG FY2024: $165MGBTG FY2025: $104MGXO FY2019: -$77MGXO FY2021: $111MGXO FY2021: $205MGXO FY2022: $200MGXO FY2023: $284MGXO FY2024: $190MGXO FY2025: $110MFY19FY20FY21FY22FY23FY24FY25
GBTG $104MGXO $110M

Fiscal years as each company reports them; the two may end in different months.

Questions about Global Business Travel and GXO Logistics

Which is bigger by revenue, Global Business Travel or GXO Logistics?

GXO Logistics is bigger by revenue: $13.2B in fiscal 2025, against $2.7B for Global Business Travel in fiscal 2025.

Which keeps more of its revenue as profit, Global Business Travel or GXO Logistics?

Global Business Travel had a net margin of 4.0% in fiscal 2025; GXO Logistics had 0.2% in fiscal 2025.

Which grew revenue faster, Global Business Travel or GXO Logistics?

In their latest fiscal years revenue changed by +12.2% at Global Business Travel and +12.5% at GXO Logistics.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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