Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Airbnb

ABNB stock analysis · Consumer Discretionary · Hotels, Resorts & Cruise Lines

FY 2025-12-31ANNUAL FILINGSMULTIPLE SHARE CLASSES
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained. Issuer-level values span share classes. Reviewed equivalent shares are used when available; the price panel explains the capital basis.
Reference share price · USD
$143.10HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$84.4B

Reviewed economically equivalent common shares; unlisted/other class priced at the displayed class price (proxy). Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗ · Share-class review ↗
Valuation

DCF value

$118.75

Equity cash-flow scenario · Reviewed issuer-equivalent shares at 2026-06-30 · -17.0% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

9.5%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-31.9%

7 industry peers · median 22.9×

How this is calculated ↗
Valuation

Historical multiples

Requires three annual historical market caps and eligible filed earnings.

Requires three annual historical market caps and eligible filed earnings.

How this is calculated ↗
Valuation

Free cash flow yield

5.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

56.0%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

38/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

6.0%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-9.9%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

1.8%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 4.6B2020-12-31: cfo -$740,000,000.00 (negative; lower scale compressed)2020-12-31: capex $37,000,000.0020202021-12-31: cfo $2,313,000,000.002021-12-31: capex $25,000,000.0020212022-12-31: cfo $3,430,000,000.002022-12-31: capex $25,000,000.0020222023-12-31: cfo $3,884,000,000.0020232024-12-31: cfo $4,518,000,000.002024-12-31: capex $34,000,000.0020242025-12-31: cfo $4,646,000,000.002025-12-31: capex $33,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$148.95$162.52$177.11
10.0%$109.15$118.75$129.07
12.0%$86.11$93.44$101.30

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3112.2B2.5B4.6B33M22.2B
2024-12-3111.1B2.6B4.5B34M21B
2023-12-319.9B4.8B3.9B20.6B
2022-12-318.4B1.9B3.4B25M16B
2021-12-316B-352M2.3B25M13.7B
2020-12-313.4B-4.6B-740M37M10.5B
2019-12-314.8B-674.3M222.7M125.5M

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue12.2BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-12
netIncome2.5BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent/common earnings proxy2.5BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-12
cfo4.6BNetCashProvidedByUsedInOperatingActivities2026-02-12
capex33MReviewed manual correction
Annual report free cash flow reconciliation: purchases of property and equipment $33 million in 2025. This is not separately exposed by the supported Company Facts tag.
2026-02-12
operatingIncome2.5BOperatingIncomeLoss2026-02-12
assets22.2BAssets2026-02-12
equity8.2BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent book equity proxy8.2BStockholdersEquity2026-02-12
debt2BLongTermDebtCurrent + LongTermDebtNoncurrent2026-02-12
shortDebtNot reported under a supported tag
cash6.6BCashAndCashEquivalentsAtCarryingValue2026-02-12
shares623MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividendsNot reported under a supported tag
buybacks3.8BPaymentsForRepurchaseOfCommonStock2026-02-12
issuance122MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from exercise of equity awards and employee stock purchase plan: 122000000 USD [us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions]. All 4 financing lines reconcile exactly to reported financing cash flow -3827000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-02-12