Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Airbnb Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
- Gross Profit Margin
- The gross profit margin exhibited a consistent upward trend throughout the examined periods, starting at 80.89% and gradually increasing to stabilize around the 83% mark in the later quarters. This indicates a steady improvement in the company's ability to manage production costs relative to revenue.
- Operating Profit Margin
- The operating profit margin increased notably from 13.17% to a peak of 23.42%, demonstrating enhanced operational efficiency up to late 2023. However, this was followed by a decline to approximately 15-16% in early 2024, before rebounding to exceed 22% by mid-2025. Such fluctuations suggest periods of varying operational performance or possibly changes in operational expenses.
- Net Profit Margin
- The net profit margin showed a strong upward movement from 12.12% to an exceptional peak of 56.87% in the third quarter of 2023, which was significantly higher than previous levels. After this spike, the margin decreased but remained relatively high until the first three quarters of 2024, where it dropped to below 17%, before recovering to about 22-23% by mid-2025. This pattern may indicate one-time gains or extraordinary items impacting net profitability during these quarters.
- Return on Equity (ROE)
- The ROE followed a generally positive trajectory, increasing from 16.92% to a maximum of 62.55% by early 2024. Similar to net profit margin, it experienced a sharp decline thereafter but regained strength to around 32-34% in mid-2025. This suggests that shareholder returns were significantly boosted during certain periods but showed volatility, likely reflecting underlying changes in net income or equity base.
- Return on Assets (ROA)
- The ROA mirrored the general trend of profitability ratios, rising from 4.7% to 25.47% at its peak in late 2023. Subsequently, it declined steadily to below 10% by late 2024 and early 2025. The diminishing ROA in later periods indicates relatively lower efficiency in using company assets to generate earnings compared to the peaks observed in 2023.
Return on Sales
Return on Investment
Gross Profit Margin
Airbnb Inc., gross profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||
| Gross profit | 2,552) | 1,766) | 2,053) | 3,267) | 2,242) | 1,662) | 1,834) | 2,938) | 2,052) | 1,390) | 1,556) | 2,483) | 1,714) | 1,146) | |||||
| Revenue | 3,096) | 2,272) | 2,480) | 3,732) | 2,748) | 2,142) | 2,218) | 3,397) | 2,484) | 1,818) | 1,902) | 2,884) | 2,104) | 1,509) | |||||
| Profitability Ratio | |||||||||||||||||||
| Gross profit margin1 | 83.23% | 83.05% | 83.08% | 83.07% | 82.59% | 82.86% | 82.83% | 82.67% | 82.33% | 82.04% | 82.15% | 81.95% | 81.58% | 80.89% | |||||
| Benchmarks | |||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||
| Chipotle Mexican Grill Inc. | 25.98% | 26.37% | 26.67% | 26.87% | 27.10% | 26.66% | 26.20% | 25.91% | 25.67% | 25.05% | 23.88% | 23.00% | 22.49% | 22.20% | |||||
| DoorDash, Inc. | 50.04% | 49.19% | 48.31% | 47.62% | 46.93% | 46.78% | 46.86% | 46.33% | 46.03% | 45.63% | 45.50% | 47.09% | 49.23% | 51.81% | |||||
| McDonald’s Corp. | 56.99% | 56.82% | 56.75% | 56.62% | 56.97% | 57.01% | 57.12% | 57.24% | 57.45% | 57.53% | 56.97% | 56.13% | 55.29% | 54.54% | |||||
| Starbucks Corp. | 24.97% | 26.05% | 26.84% | 27.54% | 27.67% | 27.81% | 27.37% | 26.52% | 26.22% | 25.78% | 25.96% | 26.87% | 27.72% | 28.59% | |||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2025 Calculation
Gross profit margin = 100
× (Gross profitQ2 2025
+ Gross profitQ1 2025
+ Gross profitQ4 2024
+ Gross profitQ3 2024)
÷ (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
= 100 × (2,552 + 1,766 + 2,053 + 3,267)
÷ (3,096 + 2,272 + 2,480 + 3,732)
= 83.23%
2 Click competitor name to see calculations.
- Revenue Trends
- The revenue exhibits a generally increasing trend over the observed periods, with noticeable seasonal fluctuations. Peaks are consistently observed in the third quarters of each year, followed by declines in the fourth quarters. From the first quarter of 2022 to the first quarter of 2025, revenue increased from approximately $1.5 billion to over $2.2 billion, representing steady growth. The highest revenue recorded is in the third quarter of 2024, reaching around $3.7 billion.
- Gross Profit Patterns
- Gross profit mirrors the revenue pattern closely, with significant increases during the third quarters and subsequent decreases in the fourth quarters. Starting at approximately $1.1 billion in the first quarter of 2022, gross profit grows to nearly $1.8 billion by the first quarter of 2025. The peak gross profit aligns with peak revenue periods, notably the third quarter of 2024 with about $3.3 billion.
- Gross Profit Margin Stability
- The gross profit margin remains consistently high and stable over the entire span, fluctuating within a narrow band around 81% to 83%. There is a slight upward trend in the margin, increasing from approximately 81% to just over 83% from early 2022 through early 2025. This suggests improved operational efficiency or favorable pricing strategies that maintain the profitability ratio despite variations in revenue and gross profit amounts.
- Seasonality and Growth Insight
- The data indicates a clear seasonal pattern, with the third quarter of each year exhibiting the strongest financial performance in both revenue and gross profit. This seasonality is consistent and suggests cyclic demand variations. Alongside this, the overall upward trajectory in both revenue and gross profit signifies robust growth and an expanding business scale across the analyzed periods.
- Summary
- In summary, the company demonstrates solid growth in revenue and gross profit accompanied by stable and slightly improving gross profit margins. There is a marked seasonal pattern with peak performance in the third quarters and expected declines in the fourth quarters each year. The steady increase in both revenue and gross profit over three years indicates positive business momentum and operational effectiveness.
Operating Profit Margin
Airbnb Inc., operating profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||
| Income (loss) from operations | 612) | 38) | 430) | 1,525) | 497) | 101) | (496) | 1,496) | 523) | (5) | 235) | 1,203) | 369) | (5) | |||||
| Revenue | 3,096) | 2,272) | 2,480) | 3,732) | 2,748) | 2,142) | 2,218) | 3,397) | 2,484) | 1,818) | 1,902) | 2,884) | 2,104) | 1,509) | |||||
| Profitability Ratio | |||||||||||||||||||
| Operating profit margin1 | 22.50% | 22.17% | 23.00% | 15.01% | 15.21% | 15.86% | 15.31% | 23.42% | 21.53% | 20.69% | 21.45% | 20.46% | 17.49% | 13.17% | |||||
| Benchmarks | |||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||
| Booking Holdings Inc. | 32.85% | 32.49% | 31.83% | 27.92% | 28.39% | 28.07% | 27.31% | 31.85% | 31.29% | 29.59% | 29.85% | 28.74% | 27.56% | 23.83% | |||||
| Chipotle Mexican Grill Inc. | 16.65% | 17.01% | 16.94% | 16.97% | 16.75% | 15.99% | 15.78% | 15.63% | 15.42% | 14.89% | 13.44% | 12.15% | 11.36% | 10.65% | |||||
| DoorDash, Inc. | 4.56% | 1.58% | -0.35% | -2.40% | -4.78% | -5.15% | -6.71% | -10.55% | -13.79% | -15.67% | -17.07% | -14.97% | -12.41% | -9.99% | |||||
| McDonald’s Corp. | 45.80% | 45.22% | 45.19% | 44.90% | 45.29% | 45.99% | 45.68% | 45.68% | 45.40% | 40.96% | 40.42% | 39.48% | 39.87% | 43.71% | |||||
| Starbucks Corp. | 12.51% | 13.96% | 14.95% | 15.92% | 16.08% | 16.64% | 16.32% | 15.31% | 14.92% | 14.26% | 14.32% | 15.33% | 16.27% | 16.92% | |||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2025 Calculation
Operating profit margin = 100
× (Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024)
÷ (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
= 100 × (612 + 38 + 430 + 1,525)
÷ (3,096 + 2,272 + 2,480 + 3,732)
= 22.50%
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue exhibited a generally upward trend over the observed quarters, demonstrating notable seasonal fluctuations. Peaks were evident around the third quarter of each year, with revenue rising from 1,509 million USD in Q1 2022 to higher values such as 3,732 million USD in Q3 2024. Despite certain declines in the first quarters of some years, the overall trajectory reveals steady growth.
- Income from Operations
- Income from operations showed significant volatility throughout the periods. After an initial loss of 5,369 million USD in Q1 2022, the figures improved markedly into positive territory in subsequent quarters, reaching highs such as 1,525 million USD in Q4 2024. However, negative spikes reappeared intermittently, notably in Q1 2023 (-5,523 million USD), indicating underlying operational challenges or extraordinary items impacting profitability sporadically.
- Operating Profit Margin
- The operating profit margin demonstrated an overall improvement with distinct cyclical variations aligned with quarterly patterns. Margins generally ranged between approximately 13% and 23%, peaking in mid to late-year quarters. The margin achieved its highest value of 23% in Q4 2024, suggesting enhanced operational efficiency or favorable business conditions during those periods. Lower margins, such as around 13% in early 2022, corresponded with quarters of operational losses, highlighting the margin’s sensitivity to fluctuations in operating income and revenue.
- Combined Insights
- The data indicates a cyclical business pattern with strong seasonal performance in mid-year quarters, both in revenue and profitability measures. The volatility in income from operations, including substantial losses in some quarters, suggests episodic challenges potentially related to cost management, market conditions, or strategic investments. Nonetheless, the overall upward trend in revenue and improving operating profit margin imply strengthening financial health and operational control over time.
Net Profit Margin
Airbnb Inc., net profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||
| Net income (loss) | 642) | 154) | 461) | 1,368) | 555) | 264) | (349) | 4,374) | 650) | 117) | 319) | 1,214) | 379) | (19) | |||||
| Revenue | 3,096) | 2,272) | 2,480) | 3,732) | 2,748) | 2,142) | 2,218) | 3,397) | 2,484) | 1,818) | 1,902) | 2,884) | 2,104) | 1,509) | |||||
| Profitability Ratio | |||||||||||||||||||
| Net profit margin1 | 22.67% | 22.60% | 23.85% | 16.96% | 46.11% | 48.23% | 48.32% | 56.87% | 25.31% | 23.30% | 22.54% | 20.29% | 16.91% | 12.12% | |||||
| Benchmarks | |||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||
| Booking Holdings Inc. | 19.23% | 22.58% | 24.78% | 21.85% | 22.46% | 21.81% | 20.07% | 25.70% | 23.04% | 22.14% | 17.89% | 15.24% | 10.54% | 4.16% | |||||
| Chipotle Mexican Grill Inc. | 13.32% | 13.59% | 13.56% | 13.51% | 13.23% | 12.70% | 12.45% | 12.27% | 12.00% | 11.49% | 10.41% | 9.61% | 9.28% | 8.74% | |||||
| DoorDash, Inc. | 6.57% | 3.02% | 1.15% | -1.69% | -4.24% | -4.61% | -6.46% | -12.81% | -16.47% | -18.98% | -20.74% | -14.51% | -12.17% | -9.97% | |||||
| McDonald’s Corp. | 32.21% | 31.75% | 31.72% | 31.79% | 32.25% | 33.36% | 33.22% | 33.31% | 33.06% | 29.36% | 26.65% | 25.41% | 25.77% | 29.93% | |||||
| Starbucks Corp. | 8.61% | 9.73% | 10.40% | 11.16% | 11.38% | 11.70% | 11.46% | 10.80% | 10.46% | 10.09% | 10.18% | 13.03% | 14.07% | 14.47% | |||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2025 Calculation
Net profit margin = 100
× (Net income (loss)Q2 2025
+ Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024)
÷ (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
= 100 × (642 + 154 + 461 + 1,368)
÷ (3,096 + 2,272 + 2,480 + 3,732)
= 22.67%
2 Click competitor name to see calculations.
The financial performance over the observed periods exhibits notable fluctuations and periods of significant improvement interspersed with declines. The company's revenue demonstrates a generally upward trajectory with seasonal variations, typically peaking around the third quarter of each year before dipping in the fourth quarter. This pattern is consistent throughout the observed periods, reflecting possible seasonal demand cycles in the business model.
Net income (loss) figures show considerable volatility. Initially, the company recorded a substantial loss at the beginning of the timeline, followed by consistent positive net income for several quarters. The net income peaked dramatically in Q3 2023, indicating an exceptional performance or one-time gain during that period. However, subsequent quarters show a sharp reversal with negative or sharply reduced net income values before recovering again toward the end of the most recent periods. This pattern suggests episodic events impacting profitability or fluctuations in operational efficiency and cost management.
The net profit margin aligns closely with net income trends, displaying a rising trend with notable peaks that significantly exceed the typical range, particularly in late 2023. Despite these peaks, the margin also experiences substantial contractions, indicating that the profitability spike might not be sustainable or representative of ongoing operating performance. Margins in the most recent quarters settle into a more moderate range, yet they remain elevated compared to the initial quarters shown, suggesting an overall improvement in profitability on sales over time.
- Revenue Trends
- Overall growing revenue with recurrent seasonal peaks in Q3.
- Net Income Trends
- From initial losses to mostly positive income, with an extraordinary peak followed by volatility and recovery.
- Net Profit Margin Trends
- Generally increasing margins with exceptional peaks and subsequent declines, stabilizing at a higher level than initial periods.
- Insights
- The irregular spikes in both net income and profit margin suggest episodic influences that warrant further investigation for sustainability.
- Revenue growth appears consistent and may support longer-term profitability improvements if volatility in net income can be controlled.
Return on Equity (ROE)
Airbnb Inc., ROE calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||
| Net income (loss) | 642) | 154) | 461) | 1,368) | 555) | 264) | (349) | 4,374) | 650) | 117) | 319) | 1,214) | 379) | (19) | |||||
| Stockholders’ equity | 7,782) | 7,937) | 8,412) | 8,488) | 8,002) | 7,896) | 8,165) | 9,123) | 5,059) | 5,291) | 5,560) | 5,540) | 5,245) | 4,737) | |||||
| Profitability Ratio | |||||||||||||||||||
| ROE1 | 33.73% | 31.98% | 31.48% | 21.65% | 60.53% | 62.55% | 58.69% | 59.85% | 45.46% | 38.34% | 34.05% | 29.40% | 23.80% | 16.92% | |||||
| Benchmarks | |||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | 374.67% | 109.92% | 66.51% | 38.58% | 11.89% | |||||
| Chipotle Mexican Grill Inc. | 43.70% | 44.73% | 41.97% | 41.08% | 37.99% | 38.57% | 40.13% | 40.55% | 40.27% | 41.60% | 37.97% | 34.75% | 35.10% | 32.06% | |||||
| DoorDash, Inc. | 8.75% | 4.04% | 1.58% | -2.27% | -5.68% | -6.00% | -8.20% | -15.92% | -19.79% | -20.85% | -20.21% | -12.89% | -9.26% | -11.29% | |||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2025 Calculation
ROE = 100
× (Net income (loss)Q2 2025
+ Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024)
÷ Stockholders’ equity
= 100 × (642 + 154 + 461 + 1,368)
÷ 7,782 = 33.73%
2 Click competitor name to see calculations.
The financial performance over the periods demonstrates notable fluctuations as well as an overall positive trend in profitability and return on equity (ROE), despite some volatility in net income and stockholders' equity.
- Net Income (Loss)
- Net income exhibited substantial variability throughout the periods. The initial quarter reflected a significant loss, which was then followed by a recovery phase marked by positive earnings. A peak in net income occurred in the quarter ending September 30, 2023, with a substantial gain of 4,374 million US dollars, indicating a strong financial performance. However, this was succeeded by a sharp decline to a net loss by the period ending December 31, 2023. Subsequently, net income rebounded again, reaching levels above 1,300 million US dollars in the last quarter of 2024, before settling into moderate positive gains in early 2025. This volatility suggests periods of both operational challenges and significant profitability.
- Stockholders’ Equity
- Stockholders' equity showed a general upward trend in the first half of the timeline, increasing from 4,737 million US dollars at the beginning to over 9,000 million by September 2023. However, following this peak, equity declined to below 8,000 million by the first quarter of 2025. This pattern may reflect fluctuations in retained earnings and other comprehensive income, possibly influenced by the net income swings and other equity changes during these periods.
- Return on Equity (ROE)
- ROE experienced a strong upward trajectory from approximately 17% in early 2022, peaking above 62% in the first quarter of 2024. This indicates an increasingly efficient use of equity to generate profits over this timeframe. The ROE declined sharply thereafter to around 21.65% by the third quarter of 2024, followed by a partial recovery to the mid-30% range. This volatility correlates with the net income and equity fluctuations and suggests variability in profitability relative to equity invested.
Overall, the data reflects a company undergoing periods of rapid growth and high profitability, interspersed with episodes of earnings volatility and equity adjustments. While strong ROE figures suggest effective capital utilization during peak periods, the cyclicality in net income and equity implies exposure to operational or market risks impacting financial stability in the short term.
Return on Assets (ROA)
Airbnb Inc., ROA calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||
| Net income (loss) | 642) | 154) | 461) | 1,368) | 555) | 264) | (349) | 4,374) | 650) | 117) | 319) | 1,214) | 379) | (19) | |||||
| Total assets | 26,992) | 25,056) | 20,959) | 22,172) | 26,320) | 24,537) | 20,645) | 21,439) | 21,188) | 20,018) | 16,038) | 16,077) | 19,059) | 17,068) | |||||
| Profitability Ratio | |||||||||||||||||||
| ROA1 | 9.73% | 10.13% | 12.63% | 8.29% | 18.40% | 20.13% | 23.21% | 25.47% | 10.85% | 10.13% | 11.80% | 10.13% | 6.55% | 4.70% | |||||
| Benchmarks | |||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||
| Booking Holdings Inc. | 15.69% | 20.00% | 21.23% | 18.00% | 17.62% | 17.31% | 17.62% | 20.68% | 16.78% | 15.96% | 12.06% | 11.06% | 6.30% | 2.32% | |||||
| Chipotle Mexican Grill Inc. | 16.64% | 17.26% | 16.67% | 16.47% | 15.81% | 15.41% | 15.27% | 14.79% | 14.75% | 14.64% | 12.98% | 11.86% | 11.55% | 10.58% | |||||
| DoorDash, Inc. | 4.61% | 2.50% | 0.96% | -1.40% | -3.44% | -3.67% | -5.15% | -10.43% | -13.19% | -14.09% | -13.94% | -9.21% | -6.91% | -7.70% | |||||
| McDonald’s Corp. | 14.09% | 14.49% | 14.90% | 14.68% | 15.44% | 16.06% | 15.08% | 16.00% | 15.86% | 13.22% | 12.25% | 12.19% | 12.35% | 13.98% | |||||
| Starbucks Corp. | 9.89% | 11.03% | 12.00% | 13.52% | 14.16% | 14.71% | 14.01% | 13.17% | 12.43% | 11.75% | 11.73% | 14.80% | 15.19% | 15.24% | |||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2025 Calculation
ROA = 100
× (Net income (loss)Q2 2025
+ Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024)
÷ Total assets
= 100 × (642 + 154 + 461 + 1,368)
÷ 26,992 = 9.73%
2 Click competitor name to see calculations.
- Net Income (Loss)
- The net income exhibits significant variability across the reported quarters. Initial figures begin with a substantial loss, followed by a recovery into positive territory in mid-2022. There is a notable peak in profitability in the quarter ending September 2023, with net income reaching its highest point. Subsequently, the net income declines sharply into negative territory in December 2023 before resuming a recovery trend through 2024 and into mid-2025, showing moderate positive values. This pattern suggests fluctuating operational performance with periods of strong gains offset by occasional losses.
- Total Assets
- Total assets demonstrate a general upward trend over the entire period. Starting from approximately $17 billion in early 2022, the asset base increases steadily, reaching over $26 billion by mid-2025. Despite minor fluctuations and temporary decreases in certain quarters, the overall trend indicates asset growth and potentially increased investment or acquisition activities over time.
- Return on Assets (ROA)
- The return on assets percentage shows variability but maintains generally positive and improving figures from early 2022 through the end of 2024. ROA rises from around 4.7% to a peak above 25% in the third quarter of 2023, suggesting significant efficiency gains in asset utilization during this period. However, there is a subsequent decrease and fluctuation throughout 2024 and 2025, though values remain positive and indicative of ongoing profitability relative to asset size. The data suggest periods of enhanced profitability followed by normalization.
- Overall Trends and Insights
- The analysis shows a company experiencing cyclical earnings fluctuations with phases of both losses and highs in net income, coupled with a consistently growing asset base. The elevated ROA in late 2023 suggests a period of heightened operational efficiency, which was not fully sustained but remained above earlier performance levels. The asset growth alongside fluctuating net income implies strategic investment or expansion efforts occurring in a dynamic operating environment. Monitoring the balance between asset growth and profitability will be critical for sustained financial health.