NASDAQ · Travel platform · World's largest stays (AWS)
Airbnb Inc
Airbnb is the world's largest travel-stay platform, earning booking service fees from guests and hosts. Its revenue tracks travel demand, consumer spending and interest-rate clocks. 2025 revenue was $12.2 billion (+10%), gross booking value $91.3 billion, and net income $2.5 billion. On the cost side it has run its entire service on Amazon Web Services (AWS) since its early days, touching the infrastructure chain.
ABNB Updated Jul 12, 2026 4 AI consumers· 3 recurring
Per the valuechain.wiki graph, Airbnb Inc is directly linked to 1 companies (1 supply, 0 revenue relationships) and reaches 36 companies within two hops; the links are backed by 5 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Revenue $12,241M (+10%), GBV $91.3B, net income $2,511M
- Customer concentration · Tied to travel demand, FX and interest rates; heavy marketing spend and a US/Europe weighting
- Segments · Booking service fees · Experiences and Services
Revenue from
- 게스트·호스트 (예약 서비스 수수료) High confidence· Amount $12.2B · FY2025 · Revenue (GBV $91.3B, 533M nights and seats)
Guest and host booking service fees are the bulk of revenue. 2025 GBV was $91.3B against $12.24B of revenue, a take rate of about 13%, and revenue tracks travel spending as a proxy.Mentions EN consensus (via MarketBeat) Published Jun 1, 2026: Airbnb analyst Buy, consensus target ~$157 (2026) - 체험·서비스 고객 (Experiences & Services) Medium confidence
Revenue from newer categories such as experiences and services expanded in 2025, a growth layer on top of stay-centric revenue.
Pays to
- 결제 처리 (비공개) High confidence
Payment processing and card fees on bookings are a large cost; individual processors and rates undisclosed. - 마케팅·브랜드 (비공개) High confidence
Brand and performance marketing is a large cost and was one reason 2025 net income fell; details undisclosed. - Amazon (AWS) High confidence
Airbnb has run its entire service on Amazon Web Services (AWS) since its early days, using EC2, S3, RDS plus Kubernetes on EC2, OpenSearch and Kinesis; the cloud is a cost-side infrastructure, not a revenue line.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Airbnb Inc | node | · | -48.6 | +59.2 | -3.5 | +3.3 | +9.5 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +6.3 |
| SanDisk | benef2 | · | · | · | · | · | +707.1 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +231.4 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +177.8 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +148.2 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +118.8 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +97 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +79.2 |
| GE Vernova | benef2 | · | · | · | · | +99 | +67.3 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +67 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +45.1 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +44.9 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +42.7 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +34.7 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +33.4 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +33.3 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +31.2 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +28.6 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +27.2 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +21.7 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +18.2 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +13 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +10.9 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | +9.3 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.1 |
| Fabrinet | benef2 | +52.7 | +8.2 | +48.4 | +15.5 | +107.1 | +3.5 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | +2.9 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -1.3 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -4.5 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | -10.5 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -15.6 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -23.2 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -29.3 |
YTD as of 2026-07-10 · source: Yahoo Finance
The thesis is the asset-light economics of the world's largest travel-stay platform, which moves as a proxy for travel demand. 2025 revenue ($12.2B, +10%) is service fees at a ~13% take rate on $91.3B of gross bookings; as a marketplace that connects guests and hosts without owning inventory, it converts to high cash — $2.5B of net income. The new growth axis is Experiences and Services, expanded in 2025 on top of stay-centric revenue, and on cost it has run its entire service on AWS since its early days, not capitalizing infrastructure. But heavy marketing spend cut 2025 net income, and revenue ties directly to travel-demand, FX and rate cycles, rolling over when consumption slows — the US/Europe weighting and marketing efficiency are the key margin variables.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 1 · Hold 2 · Sell 1 · Avg. target $152 · Price $148.62 (07-10) · Upside +2%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Truist Financial · Patrick Scholes | Hold | $134 | Jun 12, 2026 | Report ↗ |
| JPMorgan Chase · Doug Anmuth | Neutral | $140 | May 8, 2026 | Report ↗ |
| Wells Fargo · Ken Gawrelski | Overweight | $181 | May 8, 2026 | Report ↗ |
| Morgan Stanley | Underweight | — | May 4, 2026 | Report ↗ |
Hold at $134, citing possible near-term softening in booking demand.
Analyses covering this node
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