Airbnb vs Norwegian Cruise Line
Airbnb is the larger business, with $12.24bn of revenue in fiscal 2025 against $9.83bn for Norwegian Cruise Line (1.2 times as much). Airbnb grew faster (10.3% against 3.7%). Airbnb kept more of each dollar of sales as profit: a net margin of 20.5% against 4.3%.
| Latest fiscal year | AirbnbABNB, 2025 | Norwegian Cruise LineNCLH, 2025 |
|---|---|---|
| Revenue | $12.24bn | $9.83bn |
| Revenue growth | 10.3% | 3.7% |
| Net income | $2.51bn | $423m |
| Operating margin | 20.8% | — |
| Net margin | 20.5% | 4.3% |
| Return on equity | 30.2% | 23.3% |
| Free cash flow | $4.65bn | −$1.17bn |
| Cash | $6.56bn | $210m |
| Total debt | $2.00bn | $14.99bn |
| Debt to equity | 24.4% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $3.79bn | — |
| Employees | 8,200 | — |
| Market value | $100.04bn | $7.95bn |
| Price vs our value range | Within our value range | — |
| Moat score | 61 (Moderate) | 35 (Weak) |
| Insider trades, 12 months | 0 buys, 317 sales | 17 buys, 1 sales |