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: 2025-03-31), 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial data exhibits several notable trends in profitability and efficiency ratios over the analysed periods.
- Gross Profit Margin
- The gross profit margin demonstrates a consistent upward trend from 80.71% in March 2022 to approximately 83.08% by September 2024. This steady increase indicates improving efficiency in managing the cost of goods sold relative to revenue, suggesting better operational control or pricing strategies.
- Operating Profit Margin
- Beginning at 7.17% in March 2022, the operating profit margin rises sharply to a peak of 23.42% in December 2023, reflecting enhanced operating efficiency and possibly reduced operating expenses or increased revenues. Following this peak, the margin declines to around 15% in the first three quarters of 2024 but then recovers again, reaching 23% and 22.17% in December 2024 and March 2025, respectively, indicating some volatility but overall strong operating performance.
- Net Profit Margin
- The net profit margin shows a recovery from a negative 5.88% in December 2021 to a sharp increase, reaching 56.87% in December 2023. However, this exceptionally high margin is followed by a decline to the 46% range in early 2024, with a further dip to roughly 17% in December 2024 before recovering slightly to approximately 22.6% by March 2025. This pattern suggests significant fluctuations in net profitability, possibly influenced by non-operating items or extraordinary gains/losses.
- Return on Equity (ROE)
- ROE evolves positively from -7.37% in December 2021 to a remarkable 59.85% by December 2023. Although it remains elevated through mid-2024, it undergoes a significant decline to around 21.65% at the end of 2024, followed by partial recovery to approximately 32% by March 2025. This indicates periods of very high returns to shareholders, but with some volatility possibly related to changes in net income or equity structure.
- Return on Assets (ROA)
- The ROA starts slightly negative at -2.57% in December 2021, improving to a peak of 25.47% in December 2023, mirroring the surge in net profitability. Afterward, ROA experiences a decreasing trend through 2024 down to 8.29% before a moderate recovery to just over 12% by March 2025. This reflects fluctuations in asset utilization efficiency with a general trend toward positive returns, albeit with noticeable volatility in recent periods.
Overall, the data indicates a solid improvement in profitability and return metrics from late 2021 through 2023, with gross and operating margins showing consistent growth. However, the sharp peaks in net profit margin, ROE, and ROA in late 2023 are followed by visible declines and volatility through 2024, implying challenges or adjustments impacting bottom-line results and returns on investment and assets. The rebounded figures in early 2025 suggest potential recovery or stabilization after the dip.
Return on Sales
Return on Investment
Gross Profit Margin
Airbnb Inc., gross profit margin calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Gross profit | 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) | 1,237) | 1,926) | 1,041) | 632) | ||||||
| Revenue | 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) | 1,532) | 2,237) | 1,335) | 887) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| Gross profit margin1 | 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% | 80.71% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | 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% | 22.62% | 22.58% | 21.58% | 18.70% | ||||||
| McDonald’s Corp. | 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% | 54.17% | 53.71% | 53.22% | 51.37% | ||||||
| Starbucks Corp. | 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% | 28.87% | 27.85% | 22.77% | 20.94% | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Gross profit margin = 100
× (Gross profitQ1 2025
+ Gross profitQ4 2024
+ Gross profitQ3 2024
+ Gross profitQ2 2024)
÷ (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
= 100 × (1,766 + 2,053 + 3,267 + 2,242)
÷ (2,272 + 2,480 + 3,732 + 2,748)
= 83.05%
2 Click competitor name to see calculations.
The financial data exhibits a noticeable seasonal pattern in both revenue and gross profit over the periods analyzed. Revenue and gross profit figures tend to peak in the third quarter (September 30) of each year and decline in the following quarter (December 31), showing a recurring cyclical trend.
- Revenue Trends
- Revenue shows a general upward trajectory from 2021 through 2024, with the highest values recorded in the third quarters of those years, indicating a strong seasonal effect. For example, revenue rose from US$2237 million in Q3 2021 to US$3732 million in Q3 2024. However, dips occur consistently in the fourth quarters, suggesting potential seasonality related to market demand or business cycles.
- Gross Profit Trends
- Gross profit follows a similar seasonal pattern as revenue, peaking in Q3 for successive years and experiencing declines in Q4. Gross profit also demonstrates overall growth during the period, increasing notably from US$1926 million in Q3 2021 to US$3267 million in Q3 2024. The declines in the fourth quarters are consistent, reflecting the corresponding revenue decreases.
- Gross Profit Margin
- Gross profit margin is consistently high and exhibits a slight upward trend over time, moving from approximately 80.7% in early 2021 to just over 83% by 2025. Margins appear relatively stable throughout all quarters once recorded, indicating consistent cost control relative to revenue despite seasonal fluctuations in absolute values. This stability suggests an effective management of production or service costs in relation to revenues generated.
Overall, the data indicates a robust growth pattern in both revenue and gross profit across the quarters, coupled with a highly stable and gradually improving gross profit margin. Seasonal fluctuations are evident, particularly with peaks in the third quarter and declines by year-end, signaling a predictable business rhythm that could be leveraged for operational and strategic planning.
Operating Profit Margin
Airbnb Inc., operating profit margin calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Income (loss) from operations | 38) | 430) | 1,525) | 497) | 101) | (496) | 1,496) | 523) | (5) | 235) | 1,203) | 369) | (5) | 76) | 852) | (51) | (447) | ||||||
| Revenue | 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) | 1,532) | 2,237) | 1,335) | 887) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| Operating profit margin1 | 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% | 7.17% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||
| Booking Holdings Inc. | 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% | 22.78% | 16.22% | -2.86% | -11.21% | ||||||
| Chipotle Mexican Grill Inc. | 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% | 10.67% | 10.61% | 9.22% | 6.02% | ||||||
| McDonald’s Corp. | 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% | 44.59% | 44.84% | 44.34% | 40.33% | ||||||
| Starbucks Corp. | 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% | 16.77% | 14.56% | 7.36% | 5.42% | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Operating profit margin = 100
× (Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024
+ Income (loss) from operationsQ2 2024)
÷ (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
= 100 × (38 + 430 + 1,525 + 497)
÷ (2,272 + 2,480 + 3,732 + 2,748)
= 22.17%
2 Click competitor name to see calculations.
The operational and financial data exhibits several notable trends over the reported periods. Revenue shows a general pattern of increasing values with fluctuations, reflecting seasonal or market-driven variations. Starting from a lower value in early 2021, revenue grows substantially through 2021 and into 2022, reaching peaks notably in the third quarter of each year. However, some quarters reveal slight declines or stabilizations, indicating potential market saturation or cyclicality in demand.
- Income (Loss) from Operations
- The income from operations initially shows a significant loss in the first quarter of 2021, followed by a rapid improvement leading to profitability within the same year. Throughout 2022 and 2023, the figures oscillate prominently, highlighting periods of both strong operational profit and substantial losses. Such volatility could reflect changing cost structures, investments, or external factors impacting the business. It is noteworthy that despite fluctuations, several quarters consistently show profitable operations, particularly towards the end of 2022 and most of 2023.
- Revenue
- Revenue data demonstrates an upward trend overall, with marked increases from 2021 to 2024. Peaks tend to occur mostly in the third quarters, suggesting stronger sales or service activity during these periods. The first quarters often show lower revenue, consistent with seasonal effects. The revenue values exhibit substantial growth when comparing initial periods to most recent ones, indicating an expanding business or improving market conditions.
- Operating Profit Margin
- Operating profit margins display progressive improvement from mid-2021 onwards, transitioning from negative or missing values to consistently positive margins typically exceeding 15%. Margins peak above 20% in several quarters, pointing to efficient cost management and improved operational leverage. While some fluctuations exist, the margins firmly indicate enhanced profitability and operational efficiency over time.
In summary, the data reflects a company that has transitioned from early losses to sustained operational profitability. Revenue growth is evident, albeit with seasonal variations, and the operating profit margin improvements underscore better control over costs and margin expansion. However, the variability in income from operations suggests some underlying volatility, which may merit further analysis to identify the drivers and manage risks accordingly.
Net Profit Margin
Airbnb Inc., net profit margin calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) | 154) | 461) | 1,368) | 555) | 264) | (349) | 4,374) | 650) | 117) | 319) | 1,214) | 379) | (19) | 55) | 834) | (68) | (1,172) | ||||||
| Revenue | 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) | 1,532) | 2,237) | 1,335) | 887) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| Net profit margin1 | 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% | -5.88% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||
| Booking Holdings Inc. | 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% | 10.63% | 4.15% | 5.77% | 12.44% | ||||||
| Chipotle Mexican Grill Inc. | 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% | 8.65% | 9.88% | 8.57% | 6.44% | ||||||
| McDonald’s Corp. | 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% | 32.49% | 32.33% | 31.72% | 26.31% | ||||||
| Starbucks Corp. | 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% | 14.45% | 10.43% | 4.18% | 2.87% | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Net profit margin = 100
× (Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024
+ Net income (loss)Q2 2024)
÷ (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
= 100 × (154 + 461 + 1,368 + 555)
÷ (2,272 + 2,480 + 3,732 + 2,748)
= 22.60%
2 Click competitor name to see calculations.
The analyzed data reveals notable fluctuations and overall growth trends in key financial metrics over the observed periods.
- Net Income (Loss)
- Initially, there is a significant loss recorded at -1172 million USD in March 2021, followed by a sharp decrease in loss magnitude to -68 million USD in June 2021. Subsequently, net income turns positive by September 2021 with 834 million USD, maintaining generally positive values through much of the periods, with some volatility. The highest net income is recorded in December 2023 at 4374 million USD, indicating a strong profitability peak during that quarter. However, this is followed by a steep drop to a net loss of -349 million USD in the immediately following period. In the latest quarters, net income stabilizes around moderate positive values between 1368 million USD and 154 million USD, reflecting recovery but with more moderate gains compared to the peak.
- Revenue
- Revenue displays a consistent upward trend over time, growing from 887 million USD in March 2021 to a peak of 3732 million USD in September 2024. Although some quarters exhibit temporary declines, such as December 2021 and December 2022, the long-term trajectory is growth-oriented. Throughout the most recent quarters, revenue remains elevated above 2200 million USD, signaling sustained demand and expansion in the company’s revenue-generating capacity.
- Net Profit Margin (%)
- Initially absent for early periods, the net profit margin starts to be reported from September 2021 onwards. It shows a substantial increase from a negative margin of -5.88% to consistently positive margins thereafter. By December 2023, the margin peaks sharply at 56.87%, coinciding with the highest net income quarter, indicating exceptional profitability. Following this peak, profit margins decrease but stay within a positive range approximately between 16.96% and 48.32%. The downward adjustment from the peak might reflect normalization after an extraordinary profitability event but still indicates a healthy profit ratio relative to revenues in recent quarters.
In summary, the data depicts a transition from initial losses into a phase of robust revenue growth accompanied by improving and largely positive net income and profit margins. The peak in late 2023 suggests a period of exceptional performance, followed by some volatility in net income but maintaining strong revenue and profit margin levels into 2025. Overall, the financial trends indicate improving operational efficiency and expanding scale, despite intermittent fluctuations.
Return on Equity (ROE)
Airbnb Inc., ROE calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) | 154) | 461) | 1,368) | 555) | 264) | (349) | 4,374) | 650) | 117) | 319) | 1,214) | 379) | (19) | 55) | 834) | (68) | (1,172) | ||||||
| Stockholders’ equity | 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) | 4,776) | 4,449) | 3,393) | 3,159) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROE1 | 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% | -7.37% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | 374.67% | 109.92% | 66.51% | 38.58% | 11.89% | 18.86% | 6.89% | 8.63% | 14.76% | ||||||
| Chipotle Mexican Grill Inc. | 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% | 28.42% | 30.74% | 26.97% | 19.38% | ||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
ROE = 100
× (Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024
+ Net income (loss)Q2 2024)
÷ Stockholders’ equity
= 100 × (154 + 461 + 1,368 + 555)
÷ 7,937 = 31.98%
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals significant fluctuations in net income over the observed periods. Initially, net income experienced a substantial loss with a value of -1172 million USD in March 2021, followed by a sharp improvement to positive territory by September 2021, peaking at 1214 million USD in December 2022. This was succeeded by a notable surge to 4374 million USD in June 2023, indicating a period of strong profitability. However, this was followed by considerable volatility, including a significant loss again in December 2023 with -349 million USD and subsequent recovery in the following quarters up to 461 million USD in March 2025.
Regarding stockholders’ equity, a generally upward trend is observable from March 2021 through most of the timeline, starting at 3159 million USD and increasing to a peak of 9123 million USD in September 2023. Subsequent periods show some decline and fluctuation, with values oscillating around 8000 to 8500 million USD towards the end of the dataset, indicating some variability in retained earnings or equity changes, but overall a stronger equity base compared to the starting point.
The return on equity (ROE) data, which is only available from September 2021 onwards, presents a positive and generally upward trend, with few exceptions. ROE started negative at -7.37% and quickly improved, reaching a peak of 62.55% in June 2024. After this peak, ROE declined significantly to 21.65% by December 2024 but rebounded to stabilize around 31-32% by March 2025. This pattern reflects overall improved efficiency in generating profits from equity, despite some volatility in the latter periods.
- Net Income (US$ in millions)
-
Exhibited high volatility with initial heavy losses transforming into strong profitability mid-period, followed by sharp fluctuations, including both large gains and losses in the latter part of the timeline.
- Stockholders’ Equity (US$ in millions)
-
Displayed a mostly upward trajectory, increasing substantially from 3159 million USD to a high above 9000 million USD, with some decline and oscillation towards the end, indicating growth in the company’s equity base overall.
- Return on Equity (ROE, %)
-
Shifted from negative to strong positive values, peaking at over 60%, showcasing improved profitability relative to equity. The latter periods showed decline and partial recovery, suggesting fluctuating efficiency in equity use.
Return on Assets (ROA)
Airbnb Inc., ROA calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) | 154) | 461) | 1,368) | 555) | 264) | (349) | 4,374) | 650) | 117) | 319) | 1,214) | 379) | (19) | 55) | 834) | (68) | (1,172) | ||||||
| Total assets | 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) | 13,708) | 13,582) | 15,485) | 12,339) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROA1 | 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% | -2.57% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||
| Booking Holdings Inc. | 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% | 4.93% | 1.64% | 1.73% | 2.97% | ||||||
| Chipotle Mexican Grill Inc. | 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% | 9.81% | 10.72% | 9.28% | 6.61% | ||||||
| McDonald’s Corp. | 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% | 14.01% | 13.81% | 13.29% | 10.10% | ||||||
| Starbucks Corp. | 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% | 13.38% | 9.59% | 3.51% | 2.22% | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
ROA = 100
× (Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024
+ Net income (loss)Q2 2024)
÷ Total assets
= 100 × (154 + 461 + 1,368 + 555)
÷ 25,056 = 10.13%
2 Click competitor name to see calculations.
The financial data presents a fluctuating pattern in net income and an overall growth trend in total assets over the observed periods, with some volatility in the return on assets (ROA).
- Net Income (Loss)
- The net income figures show substantial variability across quarters. Initially, there is a significant loss of -1,172 million USD in March 2021, followed by a sharp recovery into positive territory by September 2021 at 834 million USD. The trend continues with fluctuating profitability, reaching a peak of 4,374 million USD in September 2023. However, there are notable negative deviations afterward, such as a loss of -349 million USD in December 2023. The most recent data point in March 2025 shows a positive net income of 154 million USD, indicating continued overall profitability despite intermittent declines.
- Total Assets
- Total assets display a general upward trend over the entire period. Starting at 12,339 million USD in March 2021, assets increase with some fluctuations, peaking at 26,320 million USD in June 2024. After this peak, a slight contraction is observed, with total assets declining to 20,956 million USD by December 2024 before rising again to 25,056 million USD in March 2025. This suggests ongoing asset accumulation with occasional adjustments or disposals.
- Return on Assets (ROA)
- ROA data is incomplete but reveals notable insights where available. Initially, the ROA is negative at -2.57% in December 2021, reflecting the earlier net loss. From March 2022 onward, ROA improves significantly, reaching a peak of 25.47% in September 2023, aligning with the period of highest net income. After this peak, ROA gradually declines to around 10.13% by March 2025, indicating a reduction in profitability relative to the asset base, though remaining positive and at a healthy level overall.
In summary, the company exhibits a recovery from early losses to achieve strong profitability and asset growth. While net income and ROA show volatility, particularly in the most recent periods, the overall trend is positive, supported by a substantial increase in total assets. The fluctuations in net income and ROA suggest the presence of cyclical or irregular factors impacting financial performance, necessitating ongoing monitoring.