# Airbnb, Inc. (ABNB) — Stock CV

Airbnb, Inc. is a $97.9B consumer company. Revenue grew 13.6% over the last year, it keeps 20¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 36.9× earnings — around the middle of its own history.

> Airbnb is the world's largest online alternative accommodation travel agency; it also offers booking services for boutique hotels, experiences, and hotel-like services. Airbnb's platform offers over 9 million active accommodation listings.

## Identity

- **Ticker**: ABNB
- **Sector**: Consumer Cyclical
- **Industry**: Travel Services
- **Headquarters**: SAN FRANCISCO, CA
- **Employees**: 8 200
- **Website**: https://www.airbnb.com
- **Market cap**: $97.9B
- **Last price**: $166.10
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $13.2B
- **Net income**: $2.69B
- **Free cash flow**: $4.86B
- **Net cash**: $11.0B
- **P/E**: 36.9
- **Revenue growth (YoY)**: 13.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 41 |
| Growth | 45 |
| Profitability | 70 |
| Health | 62 |
| Quality | 46 |
| Moat | 25 |

## Qualifications (beginner checklist) — 9 of 10 passed

- [x] Revenue growing — +13.6% YoY
- [x] Profitable — $2.69B TTM
- [x] Profit growing — +13.1% YoY
- [x] Generates cash — $4.86B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $97.9B market cap
- [x] Not printing shares — +1.2% shares over ~5y
- [ ] Proven track record — 4/5 profitable years
- [x] Financially stable — Altman Z 3.1 — safe
- [x] Valuation not extreme — P/E 36.9

## Experience (career milestones)

- **2025** — Airbnb became a sponsor of the FIFA Club World Cup in a three-year partnership to offer "official fan…
- **FY2024** — Revenue crossed $10B: $11.1B for the year
- **FY2023** — Best year on record: $4.79B net income
- **FY2022** — Turned profitable: $1.89B net income after a loss year
- **2022** — Airbnb rolled out technology to enforce this ban
- **FY2021** — Revenue already above $1B: $5.99B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **Dec 10, 2020** — IPO on Nasdaq: priced at $68, doubled on debut in the middle of a pandemic
- **2020** — Silver Lake and Sixth Street Partners acquired $1 billion in shares in the company at an $18 billion…
- **2019** — Airbnb produced and financed Gay Chorus Deep South, a documentary launched by its Rausch Street Films…
- **2017** — The company launched Airbnbmag, a magazine co-published with Hearst Communications
- **2016** — Airbnb launched "experiences", whereby users can use the platform to book activities
- **2014** — Airbnb revealed design revisions to the site and mobile app and introduced a new logo
- **2012** — Airbnb opened an office in Sydney, its 11th office location
- **2011** — Went international: European offices open — the real growth engine
- **2009** — Y Combinator + Sequoia seed: famously funded partly by selling novelty cereal boxes
- **2008** — Founded on air mattresses: Chesky and Gebbia rented out their SF apartment during a conference

## Strengths

- High gross margin (72.4%)
- Strongly profitable — 20.4% net margin
- Revenue growing 13.6% year over year
- Strong cash conversion — FCF is 36.9% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- Thin interest coverage (-3.6×)
- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $5.99B | -$352M | $2.16B |
| FY2022 | $8.40B | $1.89B | $3.40B |
| FY2023 | $9.92B | $4.79B | $3.88B |
| FY2024 | $11.1B | $2.65B | $4.52B |
| FY2025 | $12.2B | $2.51B | $4.65B |

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Source: https://stockcv.com/ABNB — derived from company filings; may be delayed or incomplete. Information, not investment advice.