Name: Airbnb Inc. (NASDAQ:ABNB) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Airbnb Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Indirect taxes payable and estimated lodging and withholding tax liabilities	1,132)	1,055)	1,119)	624)	492)
Compensation and employee benefits	593)	498)	436)	380)	416)
Accounts payable	232)	142)	141)	137)	118)
Operating lease liabilities, current	68)	63)	61)	59)	63)
Insurance, advertising costs, and other	923)	856)	897)	813)	650)
Accrued expenses, accounts payable, and other current liabilities	2,948)	2,614)	2,654)	2,013)	1,740)
Funds payable and amounts payable to customers	6,959)	5,931)	5,869)	4,783)	3,715)
Current portion of long-term debt	1,999)	—)	—)	—)	—)
Unearned fees	1,743)	1,616)	1,427)	1,182)	904)
Current liabilities	13,649)	10,161)	9,950)	7,978)	6,359)
Long-term debt, net of current portion	—)	1,995)	1,991)	1,987)	1,983)
Operating lease liabilities, noncurrent	204)	236)	252)	295)	372)
Other	156)	155)	287)	218)	218)
Other liabilities, noncurrent	360)	391)	539)	513)	591)
Noncurrent liabilities	360)	2,386)	2,530)	2,500)	2,573)
Total liabilities	14,009)	12,547)	12,480)	10,478)	8,933)
Common stock, $0.0001 par value	—)	—)	—)	—)	—)
Additional paid-in capital	13,763)	12,602)	11,639)	11,557)	11,140)
Accumulated other comprehensive income (loss)	(62)	35)	(49)	(32)	(7)
Accumulated deficit	(5,502)	(4,225)	(3,425)	(5,965)	(6,358)
Stockholders’ equity	8,199)	8,412)	8,165)	5,560)	4,776)
Total liabilities and stockholders’ equity	22,208)	20,959)	20,645)	16,038)	13,708)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The company’s liabilities demonstrate a consistent upward trend over the five-year period, with a significant acceleration in recent years. Simultaneously, stockholders’ equity has also increased, though with more fluctuation. A closer examination reveals specific areas driving these changes.

Current Liabilities: Current liabilities exhibit a substantial increase, rising from US$6,359 million in 2021 to US$13,649 million in 2025. The most significant component of this growth is funds payable and amounts payable to customers, which nearly doubled over the period, increasing from US$3,715 million to US$6,959 million. Accrued expenses, accounts payable, and other current liabilities also contributed significantly to this increase, growing from US$1,740 million to US$2,948 million. The introduction of a current portion of long-term debt in 2025, totaling US$1,999 million, further amplified the rise in current obligations. Unearned fees also increased steadily, from US$904 million to US$1,743 million.
Noncurrent Liabilities: Noncurrent liabilities initially decreased from US$2,573 million in 2021 to US$2,386 million in 2024, before experiencing a substantial decline to US$360 million in 2025. This decrease is primarily attributable to a reduction in operating lease liabilities and other noncurrent liabilities. Long-term debt remained relatively stable between US$1,983 million and US$1,995 million throughout the period.
Total Liabilities: As a result of the trends in both current and noncurrent liabilities, total liabilities increased from US$8,933 million in 2021 to US$14,009 million in 2025. The rate of increase accelerated in the later years of the period.
Stockholders’ Equity: Stockholders’ equity increased from US$4,776 million in 2021 to US$8,199 million in 2025, although growth was not linear. The primary driver of this increase is additional paid-in capital, which rose from US$11,140 million to US$13,763 million. Accumulated deficit decreased significantly, moving from negative US$6,358 million to negative US$5,502 million, indicating improved profitability or reduced losses. Accumulated other comprehensive income (loss) fluctuated, ending at a negative US$62 million in 2025, compared to negative US$7 million in 2021.
Total Liabilities and Stockholders’ Equity: The combined effect of increasing liabilities and stockholders’ equity resulted in a growth in total liabilities and stockholders’ equity from US$13,708 million in 2021 to US$22,208 million in 2025, reflecting overall expansion of the company’s financial structure.

The significant increase in funds payable and amounts payable to customers suggests a potential shift in the company’s business model or payment terms. The substantial growth in current liabilities, coupled with the decrease in noncurrent liabilities in 2025, warrants further investigation to understand the company’s short-term liquidity and long-term financial strategy.

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