Stock Analysis on Net
Stock Analysis on Net

Airbnb Inc. (NASDAQ:ABNB)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Airbnb Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Activity Ratio
Total Asset Turnover
Reported 0.48 0.52 0.44 0.32
Adjusted 0.57 0.54 0.47 0.29
Liquidity Ratio
Current Ratio
Reported 1.66 1.86 1.95 1.73
Adjusted 1.94 2.19 2.28 1.90
Solvency Ratios
Debt to Equity
Reported 0.24 0.36 0.42 0.63
Adjusted 0.34 0.35 0.42 0.69
Debt to Capital
Reported 0.20 0.26 0.29 0.39
Adjusted 0.25 0.26 0.30 0.41
Financial Leverage
Reported 2.53 2.88 2.87 3.62
Adjusted 2.64 2.37 2.41 3.13
Profitability Ratios
Net Profit Margin
Reported 48.32% 22.54% -5.88% -135.71%
Adjusted 21.16% 24.81% 1.32% -155.08%
Return on Equity (ROE)
Reported 58.69% 34.05% -7.37% -158.00%
Adjusted 31.83% 31.83% 1.50% -142.97%
Return on Assets (ROA)
Reported 23.21% 11.80% -2.57% -43.70%
Adjusted 12.07% 13.41% 0.62% -45.71%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Airbnb Inc. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Airbnb Inc. adjusted current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Airbnb Inc. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Airbnb Inc. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Airbnb Inc. adjusted financial leverage ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Airbnb Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Airbnb Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Airbnb Inc. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Airbnb Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Revenue 9,917 8,399 5,992 3,378
Total assets 20,645 16,038 13,708 10,491
Activity Ratio
Total asset turnover1 0.48 0.52 0.44 0.32
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenue2 10,162 8,677 6,488 3,111
Adjusted total assets3 17,808 16,061 13,725 10,557
Activity Ratio
Adjusted total asset turnover4 0.57 0.54 0.47 0.29

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
Total asset turnover = Revenue ÷ Total assets
= 9,917 ÷ 20,645 = 0.48

2 Adjusted revenue. See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted total asset turnover = Adjusted revenue ÷ Adjusted total assets
= 10,162 ÷ 17,808 = 0.57

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Airbnb Inc. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Current assets 16,509 14,861 12,386 8,916
Current liabilities 9,950 7,978 6,359 5,140
Liquidity Ratio
Current ratio1 1.66 1.86 1.95 1.73
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 16,553 14,900 12,417 9,007
Adjusted current liabilities3 8,523 6,796 5,456 4,732
Liquidity Ratio
Adjusted current ratio4 1.94 2.19 2.28 1.90

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 16,509 ÷ 9,950 = 1.66

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 16,553 ÷ 8,523 = 1.94

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Airbnb Inc. adjusted current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt 1,991 1,987 1,983 1,826
Stockholders’ equity 8,165 5,560 4,776 2,902
Solvency Ratio
Debt to equity1 0.24 0.36 0.42 0.63
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 2,304 2,341 2,418 2,313
Adjusted stockholders’ equity3 6,755 6,765 5,696 3,375
Solvency Ratio
Adjusted debt to equity4 0.34 0.35 0.42 0.69

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 1,991 ÷ 8,165 = 0.24

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 2,304 ÷ 6,755 = 0.34

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Airbnb Inc. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt 1,991 1,987 1,983 1,826
Total capital 10,156 7,547 6,758 4,727
Solvency Ratio
Debt to capital1 0.20 0.26 0.29 0.39
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 2,304 2,341 2,418 2,313
Adjusted total capital3 9,059 9,106 8,114 5,688
Solvency Ratio
Adjusted debt to capital4 0.25 0.26 0.30 0.41

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 1,991 ÷ 10,156 = 0.20

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 2,304 ÷ 9,059 = 0.25

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Airbnb Inc. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total assets 20,645 16,038 13,708 10,491
Stockholders’ equity 8,165 5,560 4,776 2,902
Solvency Ratio
Financial leverage1 2.53 2.88 2.87 3.62
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 17,808 16,061 13,725 10,557
Adjusted stockholders’ equity3 6,755 6,765 5,696 3,375
Solvency Ratio
Adjusted financial leverage4 2.64 2.37 2.41 3.13

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 20,645 ÷ 8,165 = 2.53

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 17,808 ÷ 6,755 = 2.64

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Airbnb Inc. adjusted financial leverage ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 4,792 1,893 (352) (4,585)
Revenue 9,917 8,399 5,992 3,378
Profitability Ratio
Net profit margin1 48.32% 22.54% -5.88% -135.71%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 2,150 2,153 86 (4,825)
Adjusted revenue3 10,162 8,677 6,488 3,111
Profitability Ratio
Adjusted net profit margin4 21.16% 24.81% 1.32% -155.08%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) ÷ Revenue
= 100 × 4,792 ÷ 9,917 = 48.32%

2 Adjusted net income (loss). See details »

3 Adjusted revenue. See details »

4 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Adjusted revenue
= 100 × 2,150 ÷ 10,162 = 21.16%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Airbnb Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 4,792 1,893 (352) (4,585)
Stockholders’ equity 8,165 5,560 4,776 2,902
Profitability Ratio
ROE1 58.69% 34.05% -7.37% -158.00%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 2,150 2,153 86 (4,825)
Adjusted stockholders’ equity3 6,755 6,765 5,696 3,375
Profitability Ratio
Adjusted ROE4 31.83% 31.83% 1.50% -142.97%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 4,792 ÷ 8,165 = 58.69%

2 Adjusted net income (loss). See details »

3 Adjusted stockholders’ equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 2,150 ÷ 6,755 = 31.83%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Airbnb Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 4,792 1,893 (352) (4,585)
Total assets 20,645 16,038 13,708 10,491
Profitability Ratio
ROA1 23.21% 11.80% -2.57% -43.70%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 2,150 2,153 86 (4,825)
Adjusted total assets3 17,808 16,061 13,725 10,557
Profitability Ratio
Adjusted ROA4 12.07% 13.41% 0.62% -45.71%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2023 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 4,792 ÷ 20,645 = 23.21%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 2,150 ÷ 17,808 = 12.07%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Airbnb Inc. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.