Airbnb Inc - Ordinary Shares - Class A
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+ FollowMarket Cap$98.43B
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Earnings Call Q2 2026
August 6, 2026 - AI Summary
Q2 performance (strong upside vs outlook):
- Revenue +17% YoY to $3.6B; GBV +16% YoY to $27.2B.
- Nights & seats booked +10% YoY, with acceleration from Q1; nights on app +23% YoY, now 64% of total nights (up from 59% last year).
- First-time bookers growth +11% (highest in 4 years); Gen Z fastest-growing within first-time bookers.
- ADR +5% YoY (about +4% excluding FX), with strength in North America and Europe.
Guidance / forecasts raised (demand momentum continues; profitability improving):
- Q3 2026: Revenue $4.69B–$4.77B (+15%–17% YoY), including ~3pp FX tailwind.
- Q3 GBV expected mid-teens YoY (low double-digit nights/seats; moderate ADR increase).
- Q3 adjusted EBITDA margin expected slightly down YoY due to timing of investments.
- Full-year 2026: Revenue growth now at least mid-teens (raised from low-to-mid-teens); adjusted EBITDA margin at least 35.5% (up from 35%).
- Full-year implied take rate relatively flat vs 2025, due to Reserve Now, Pay Later timing effects and higher customer incentives/new businesses.
Strategy drivers (what management says is causing outperformance): AI-native execution + compounding product improvements:
- CEO attributes results to product compounding (AI accelerating iteration/testing).
- Claims include -60% time from concept to launch and ~+80% more features/improvements shipped vs the prior six months.
- Key guest conversion drivers: improvements across search/discovery, sign-up, checkout, payments, plus AI-generated listing/review highlights and later AI home comparison.
- Key host drivers: better pricing tools/insights, and AI tools for new hosts to start faster and earn more.
- Cost efficiency: Q2 customer support costs per booking ~-16% YoY, partly from AI assistant; AI assistant in 50+ languages, and ~45% of issues starting with it resolve without a human.
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$130.62
25.9% downside
Current Fair Value
25.9% downsideOvervalued by 25.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $98.43 Billion |
|---|---|
| Enterprise Value | $96.86 Billion |
| Earnings per Share | $4.1 |
| Beta | 1.24 |
| Outstanding Shares | 592,000,000 |
Return
| Return on Equity | 34.50% |
|---|---|
| Return on Assets | 9.36% |
| Return on Invested Capital | 25.76% |
Valuation & Multiples
| P/E Ratio | 37.19 |
|---|---|
| PEG | 137.23 |
| Price to Sales | 8.02 |
| Price to Book Ratio | 13.57 |
| Enterprise Value to Revenue | 7.36 |
| Enterprise Value to EBIT | 35.26 |
| Enterprise Value to Net Income | 35 |
| Total Debt to Enterprise | 0.05 |
| Debt to Equity | 0.67 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS Estimate
$2.85
Consensus analyst estimateRevenue Estimate
$4.73 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 3.64, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 3.6364▲ 271.60% |
|---|---|
| Total Calls | 25,300▼ 99.68% |
| Total Puts | 92,000▼ 98.73% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.54%▼ 57.34% |
|---|---|
| Total Invested | $3.36B▼ 93.55% |
| Investors Holding | 471▼ 928.00% |
About Airbnb Inc
6,300 employees
CEO: Brian Chesky
Airbnb is a community based on connection and belonging-a community that was born in 2008 when two hosts welcomed three guests to their San Francisco home, and has since grown to 4 million hosts who have welcomed over 800 million guest a...