| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 21 | 38.5x | 17.8x | Bottom tier | |
Growth | 71 | 13.6% | 7.1% | Top tier | |
Quality | 98 | 20.0% | 4.5% | Top tier | |
Safety | 69 | — | 2.6x | Top tier | |
Capital Return | 40 | — | 2.12% | Around median | |
Momentum | 88 | 48.2% | 2.9% | Top tier | |
Sentiment | 72 | 28 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Airbnb operates a travel platform that connects guests with hosts of homes, hotels, experiences, and services, and generates revenue from service fees associated with bookings completed through the platform. Homes remain the core business and the largest near-term growth driver, while the company is expanding its scope through independent and boutique hotels, Airbnb Experiences, and services such as car rentals, grocery delivery, airport transportation, and luggage storage. In Q2 fiscal 2026, hotels still accounted for a single-digit percentage of nights booked, but grew at approximately three times the growth rate of the homes business, while approximately 35% of first-time hotel guests later returned to book a home through Airbnb.
Q2 fiscal 2026 generated revenue of $3.6 billion, up 17% year over year, and gross booking value of $27.2 billion, up 16%, while nights and seats booked increased 10%. Net income was $816 million, adjusted EBITDA was $1.3 billion at a 35% margin, expanding by more than 100 basis points, and free cash flow was $1.3 billion. On a trailing-twelve-month basis ending in fiscal 2026, EDGAR data showed revenue of $12.6 billion, gross profit of $10.5 billion, net income of $2.5 billion, and earnings per share of approximately $4.14.
Demand momentum broadened geographically in Q2 fiscal 2026; North America and Europe recorded high-single-digit growth in nights and seats booked, compared with approximately 20% in Latin America and high-teens growth in Asia Pacific. Nights booked through the Airbnb app grew 23% and represented 64% of the total, compared with 59% a year earlier, while growth in first-time bookers accelerated to 11%, the highest rate in four years. A 5% increase in average daily rate, or 4% excluding currency effects, contributed to gross booking value growth, with notable strength in North America and Europe.
The average analyst price target is $172.6 with a "Buy" consensus, and the target range extends from $125 to $217; the average therefore sits below the 52-week range high of $193.453, while the highest target exceeds that high and the lowest target is close to the range low of $110.81. On August 7, 2026, Wedbush upgraded ABNB to "Outperform" and set a $200 target, while Evercore ISI raised its target to $190, but the wide gap between the lowest and highest consensus targets reflects meaningful disagreement about the sustainability of growth and the returns on spending on AI and new businesses.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Revenue grew 17% to $3.6 billion, gross booking value increased 16% to $27.2 billion, and nights and seats booked rose 10%. Results benefited from improvements to search, login, and payment, as well as Reserve Now, Pay Later, which accounted for more than 20% of gross booking value. Average daily rate also increased 5%, or 4% excluding currency effects, with strength in North America and Europe. Net income was $816 million, while adjusted EBITDA was $1.3 billion at a 35% margin.
Airbnb uses AI to highlight listing attributes and guest reviews and to improve search, personalization, and host pricing, and in August 2026 it began testing natural-language search with a small percentage of traffic. These tools reduced development time for certain initiatives by as much as 60% and increased the features and improvements shipped in the first half of fiscal 2026 by approximately 80%. The AI assistant resolves approximately 45% of issues initiated through it without a human employee and is available in more than 50 languages. This contributed to an approximately 16% decline in customer support cost per booking in Q2 fiscal 2026.
Automated analysis for informational purposes only — not investment advice.
Hotels still represented a single-digit percentage of total nights booked in Q2 fiscal 2026, so they remain much smaller than the homes business. However, they are growing at approximately three times the growth rate of homes, and the company added thousands of boutique and independent hotels while expanding supply acquisition efforts to approximately 20 major cities. Approximately 35% of first-time hotel guests return to Airbnb to book a home, indicating that hotels may bring new users to the core business. Featured hotels offer a price-match guarantee and credit of up to 15% for use on subsequent bookings.
Bookings using Reserve Now, Pay Later represented more than 20% of gross booking value in Q2 fiscal 2026. Management said the feature increased bookings and booking lead times and contributed to a higher average daily rate, while also attracting users who knew Airbnb but had not previously booked through it. In July 2026, the company expanded the types of bookings eligible for the feature. On the other hand, the feature delays the collection of guest payments until closer to the stay, affecting the timing of unearned fees and cash flows.
For Q3 fiscal 2026, the company expects revenue between $4.69 billion and $4.77 billion, equivalent to annual growth of between 15% and 17%, including support of approximately three percentage points from foreign exchange rates. It expects gross booking value growth in the mid-teens, driven by low-teens growth in nights and seats booked and a moderate increase in average daily rate. For fiscal 2026, Airbnb raised its revenue growth forecast to at least the mid-teens and raised the minimum adjusted EBITDA margin to 35.5%. However, it expects the Q3 margin to decline slightly from the comparable quarter of fiscal 2025 because of the timing of investments.
Airbnb depends on the homes business in the near term because hotels still account for a single-digit percentage of nights and experiences remain small with a multiyear horizon. Brian Chesky also described AI as an existential risk, alongside a material increase in spending on it during fiscal 2026, despite early gains in conversion and customer service. Risks also include geopolitical conflicts and local regulatory policies, as well as an expected slight decline in the adjusted EBITDA margin in Q3 fiscal 2026. Insiders recorded net sales of $841.8 million during the three months through August 25, 2026, but these sales may be prearranged and are not sufficient on their own to support a negative thesis.
