ABNB
Airbnb
Platform / Network
★ Quality 82/100Price today
$181.94
This company value is already calculated
We know what it is worth from its audited numbers, and whether it trades above or below that today. Create your free account to see it.
See what it is worthcharlieapp.co
What this business is made of
The business
The world's largest hotel that doesn't own a single bed.
Airbnb is the marketplace connecting hosts with travelers in over 220 countries. It charges a commission on every booking — host and guest fees — without owning a single property. In 2025 it moved $12.2B in revenue with an 83% gross margin.
The two-sided network effect: more hosts attract more guests and vice versa. Seven million active listings are nearly impossible to replicate overnight. The brand became a verb — people say 'airbnb it', not 'rent a house'.
Revenue history
From $6.0B to $12.2B in 4 years — nearly 2.0x its size. Selling more and more is the base of everything else.
Where each $100 of sales goes
Revenue $12.2B · FY2025
Of every $100 in sales, $79 goes to costs and operations; $21 is left as net profit (21% margin).
Catalysts and risks
Expansion into new services and experiences categories launched in 2025, widening the take rate per user.
Growth in international markets like Latin America and Asia, still underpenetrated versus North America.
$6.6B in cash with no debt for aggressive buybacks or acquisitions; estimated 20% CAGR.
Municipal regulation: cities like New York and Barcelona already restrict short-term rentals, cutting inventory.
No real strong moat — Booking and Vrbo compete for the same hosts with little switching friction.
Travel spending is cyclical; a recession hits discretionary bookings first.
Charlie's note
“A marketplace with no bricks, 83% gross margin and a brand turned into a verb: a solid moat. At 24x with the business growing 20%, you pay a sensible price for real quality — nothing's given away, but you're not getting gouged either.”
Analysis · June 2026
Want to follow Airbnb?
We do not calculate a value here: Airbnb does not generate cash flows you can project, and putting a number on it would be making it up. What you can do is follow it and tell us the price you care about — we will email you when it gets there.
🔔 Email meFree · no card
Charlie informs, it doesn't advise. No information should be taken as a recommendation to buy or sell.