Stock Analysis on Net
Stock Analysis on Net

Airbnb Inc. (NASDAQ:ABNB)

Analysis of Goodwill and Intangible Assets

Microsoft Excel

Goodwill and Intangible Asset Disclosure

Airbnb Inc., balance sheet: goodwill and intangible assets

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Goodwill 750 752 650 653 656
Identifiable intangible assets, gross carrying amount 94 95 77 113 130
Accumulated amortization (67) (55) (43) (60) (54)
Identifiable intangible assets, net carrying value 27 40 34 52 76
Intangible assets and goodwill 777 792 684 705 732

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Item Description The company
Goodwill Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Airbnb Inc. goodwill increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Identifiable intangible assets, net carrying value Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Airbnb Inc. identifiable intangible assets, net carrying value increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Intangible assets and goodwill Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Airbnb Inc. intangible assets and goodwill increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Adjustments to Financial Statements: Removal of Goodwill

Airbnb Inc., adjustments to financial statements

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Adjustment to Total Assets
Total assets (as reported) 20,959 20,645 16,038 13,708 10,491
Less: Goodwill 750 752 650 653 656
Total assets (adjusted) 20,209 19,893 15,388 13,056 9,836
Adjustment to Stockholders’ Equity
Stockholders’ equity (as reported) 8,412 8,165 5,560 4,776 2,902
Less: Goodwill 750 752 650 653 656
Stockholders’ equity (adjusted) 7,662 7,413 4,910 4,123 2,246

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Airbnb Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Airbnb Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Total Asset Turnover
Reported total asset turnover 0.53 0.48 0.52 0.44 0.32
Adjusted total asset turnover 0.55 0.50 0.55 0.46 0.34
Financial Leverage
Reported financial leverage 2.49 2.53 2.88 2.87 3.62
Adjusted financial leverage 2.64 2.68 3.13 3.17 4.38
Return on Equity (ROE)
Reported ROE 31.48% 58.69% 34.05% -7.37% -158.00%
Adjusted ROE 34.56% 64.64% 38.55% -8.54% -204.13%
Return on Assets (ROA)
Reported ROA 12.63% 23.21% 11.80% -2.57% -43.70%
Adjusted ROA 13.10% 24.09% 12.30% -2.70% -46.61%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Airbnb Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Airbnb Inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE A profitability ratio calculated as net income divided by adjusted shareholders’ equity. Airbnb Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Airbnb Inc. adjusted ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.

Airbnb Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Revenue 11,102 9,917 8,399 5,992 3,378
Total assets 20,959 20,645 16,038 13,708 10,491
Activity Ratio
Total asset turnover1 0.53 0.48 0.52 0.44 0.32
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Revenue 11,102 9,917 8,399 5,992 3,378
Adjusted total assets 20,209 19,893 15,388 13,056 9,836
Activity Ratio
Adjusted total asset turnover2 0.55 0.50 0.55 0.46 0.34

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Total asset turnover = Revenue ÷ Total assets
= 11,102 ÷ 20,959 = 0.53

2 Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 11,102 ÷ 20,209 = 0.55

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Airbnb Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Total assets 20,959 20,645 16,038 13,708 10,491
Stockholders’ equity 8,412 8,165 5,560 4,776 2,902
Solvency Ratio
Financial leverage1 2.49 2.53 2.88 2.87 3.62
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets 20,209 19,893 15,388 13,056 9,836
Adjusted stockholders’ equity 7,662 7,413 4,910 4,123 2,246
Solvency Ratio
Adjusted financial leverage2 2.64 2.68 3.13 3.17 4.38

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Financial leverage = Total assets ÷ Stockholders’ equity
= 20,959 ÷ 8,412 = 2.49

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 20,209 ÷ 7,662 = 2.64

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Airbnb Inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) 2,648 4,792 1,893 (352) (4,585)
Stockholders’ equity 8,412 8,165 5,560 4,776 2,902
Profitability Ratio
ROE1 31.48% 58.69% 34.05% -7.37% -158.00%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income (loss) 2,648 4,792 1,893 (352) (4,585)
Adjusted stockholders’ equity 7,662 7,413 4,910 4,123 2,246
Profitability Ratio
Adjusted ROE2 34.56% 64.64% 38.55% -8.54% -204.13%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 2,648 ÷ 8,412 = 31.48%

2 Adjusted ROE = 100 × Net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 2,648 ÷ 7,662 = 34.56%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as net income divided by adjusted shareholders’ equity. Airbnb Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) 2,648 4,792 1,893 (352) (4,585)
Total assets 20,959 20,645 16,038 13,708 10,491
Profitability Ratio
ROA1 12.63% 23.21% 11.80% -2.57% -43.70%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income (loss) 2,648 4,792 1,893 (352) (4,585)
Adjusted total assets 20,209 19,893 15,388 13,056 9,836
Profitability Ratio
Adjusted ROA2 13.10% 24.09% 12.30% -2.70% -46.61%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 2,648 ÷ 20,959 = 12.63%

2 Adjusted ROA = 100 × Net income (loss) ÷ Adjusted total assets
= 100 × 2,648 ÷ 20,209 = 13.10%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Airbnb Inc. adjusted ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.