At a glance
Sabre Corpo is worth $645.7M, about 1 times its fiscal 2025 earnings. Revenue grew 1.0% to $2.77B in fiscal 2025, with 18.9% kept as profit. It pays no dividend. The stock returned −22.7% over the past year with dividends reinvested and −31.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 84.7% in the 2020 crash (S&P 500: 33.7%) and 57.4% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high.
The business in plain English
Sabre runs a global distribution system, or GDS. It is a booking network that gathers prices and availability from airlines, hotels, car rental brands, rail carriers, cruise lines and tour operators, so travel sellers can search and book them in one place. Those sellers include online travel agencies, traditional agencies, travel management companies that arrange business trips, and corporate travel departments. Sabre is based in Southlake, Texas, and calls this network the Sabre Mosaic Marketplace.
Most of its money comes from fees on each booking. When an agency books a flight, room or car through the GDS, Sabre collects a fee. The airline, hotel or other supplier usually pays it, and some agencies also pay to use added tools. This distribution business brought in $2.22 billion, or 80% of Sabre's $2.77 billion in revenue for the year ended December 31, 2025.
The other 20%, about $554 million, came from IT Solutions. This is software that airlines use to run reservations, sell tickets and manage operations, either delivered over the internet or hosted by Sabre. These contracts typically last three to ten years and often set minimum yearly volumes. Sabre sold its Hospitality Solutions business during 2025 and now reports one segment. By region, the United States supplied 39.1% of fiscal 2025 revenue, Asia-Pacific 18.5%, Europe 16.7% and all other regions 25.7%.
Price history
The interactive chart needs JavaScript.
SABR -22.7% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Distribution | $2.22B | 80% |
| IT Solutions | $554.0M | 20% |
| License fee | $5.0M | 0.2% |
By geography
| United States | $1.08B | 39.1% |
| All Other | $711.5M | 25.7% |
| APAC | $511.9M | 18.5% |
| Europe | $463.1M | 16.7% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $712.0M, up 3.6% from a year earlier, and net income was $-36.2M.
- For fiscal 2025, revenue was $2.77B (+1.0% year over year) with a 18.9% net margin.
Financial health check
| Operating margin | 10.7% watch |
|---|---|
| Free cash flow margin | -6.9% weak |
| Return on assets (FY2025) | 11.7% good |
| Net cash (cash minus debt) | $-3.64B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.33B | $-1.28B | $-835.7M |
| FY2021 | $1.69B | $-928.5M | $-469.0M |
| FY2022 | $2.54B | $-435.4M | $-346.0M |
| FY2023 | $2.64B | $-527.6M | $-13.6M |
| FY2024 | $2.74B | $-278.8M | $-9.3M |
| FY2025 | $2.77B | $524.6M | $-191.8M |
Valuation snapshot
| Market value | $645.7M |
|---|---|
| P/E ratio | 1.2 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Sabre Corpo’s market value went from $6.99B at the end of 2016 to $645.7M on Oct 28, 2026, down 91%; since the end of 2025 it is up 20%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $645.7M | +20.2% |
| 2025 | $537.0M | -61.9% |
| 2024 | $1.41B | -15.7% |
| 2023 | $1.67B | -17.7% |
| 2022 | $2.03B | -27.0% |
| 2021 | $2.78B | -27.1% |
| 2020 | $3.81B | -38.0% |
| 2019 | $6.15B | +3.2% |
| 2018 | $5.96B | +5.7% |
| 2017 | $5.63B | -19.4% |
| 2016 | $6.99B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SABR price data to Oct 28, 2026 | +17.6% | -22.7% | -22.2% | -31.3% | -23.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +17.6% |
| 2025 | -62.7% |
| 2024 | -17.1% |
| 2023 | -28.8% |
| 2022 | -28.1% |
| 2021 | -28.5% |
| 2020 | -44.5% |
| 2019 | +6.3% |
| 2018 | +8.1% |
| 2017 | -15.6% |
| 2016 | -9.1% |
| 2015 | +39.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 83.1% over that stretch · deepest drop along the way 84.7%, not recovered by the end of the data |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 42% over that stretch · deepest drop along the way 57.4%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (21 read): 1 open-market purchases ($12.3M) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 27, 2026 | Constellation Software Inc 10% owner | buy | $12.3M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 11.9% | Sep 30, 2026 |
| Discerene Group LP | 9.9% | Mar 31, 2026 |
| Arini Capital Management Limited | 9.26% | Mar 31, 2026 |
| EARNEST PARTNERS LLC | 6% | Jun 30, 2026 |
| Fundsmith LLP | 2.3% | Mar 31, 2026 |
ETFs with the most weight in SABR
| AWAY Amplify Travel Tech ETF | 2.34% |
| JETS U.S. Global Jets ETF | 1.44% |
| XITK SPDR FactSet Innovative Technology ETF | 0.76% |
| NIXT Research Affiliates Deletions ETF | 0.57% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.24% |
| VIOG Vanguard S&P Small-Cap 600 Growth ETF | 0.23% |
| EES WisdomTree U.S. SmallCap Fund | 0.21% |
| RWJ Invesco S&P SmallCap 600 Revenue ETF | 0.19% |
What could go wrong
- Revenue rises and falls with air travel. Sabre is paid per booking, much of it for air travel, and that revenue isn't guaranteed to repeat each year. Recessions, pandemics, wars, fuel price spikes, airline bankruptcies or groundings can quickly shrink bookings and revenue.
- Heavy debt and negative shareholder equity. As of June 30, 2026, Sabre had $4.32 billion of debt and $676 million of cash and investments, and its liabilities exceeded its assets. Breaking lender rules, called covenants, could put all its debt in default.
- Airlines and hotels selling directly. Airlines and other suppliers can sell directly and skip Sabre's fees. Sabre must keep paying for upgrades, including New Distribution Capability (NDC), a newer standard airlines use to send fares. The spending may not pay off.
- Travel suppliers push for lower fees. Travel suppliers usually pay the booking fees and push to lower them, especially when they merge, struggle or cut costs. Losing a big airline or agency contract, or renewing on weaker terms, could hurt revenue.
- Cash outflows and uncertain funding. Free cash flow, the cash left after running and investing in the business, was negative every year from fiscal 2020 through 2025. Sabre warns that outside funding may not be available on reasonable terms.
- Outages, hacks and data privacy rules. Sabre handles bookings, personal data and payment card details, partly through outside cloud providers. A data breach could bring fines under privacy laws such as Europe's GDPR. A long outage could drive customers away.
Recent events
- Major agreement ended; Other company announcement
- Major agreement signed; New debt or financial obligation; Change to shareholder rights; Other company announcement
- Other company announcement
- Major agreement signed; New debt or financial obligation
- Quarterly results released
- Executive or board change
- Major agreement signed; New debt or financial obligation; Unregistered sale of shares; Other company announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
- Major agreement signed; Major agreement ended; Change to shareholder rights; Executive or board change; Bylaws or fiscal year changed; Investor presentation or announcement
For income and retirement investors
Sabre pays no dividend, so the stock produces no income and any return has to come from a higher share price. The company paid $0.14 per share in fiscal 2020 and nothing from fiscal 2021 through fiscal 2025. It bought back no shares over that span either. Instead, the share count rose 24.8%, from about 323 million in October 2021 to about 404 million in July 2026, which shrinks each shareholder's slice. Free cash flow (cash from operations minus capital spending) was negative every year from fiscal 2020 through fiscal 2025, so there was no spare cash to hand back.
The stock has also fallen hard in market downturns. It dropped 84.7% between February 19 and March 20, 2020, in the COVID crash. It fell 57.4% between February 16 and September 26, 2022, during that year's bear market. Neither loss had been recovered as of October 28, 2026. Single stocks, especially heavily indebted ones, carry more risk than diversified funds.
Questions investors ask
How does Sabre make money?
Mostly from booking fees. Sabre runs a global distribution system (GDS), a marketplace where travel agencies and corporate travel departments book flights, hotels, rental cars and other travel. Sabre earns a fee on each booking, usually paid by the travel supplier. This distribution business brought in $2.22 billion, or 80% of fiscal 2025 revenue of $2.77 billion. The other 20% came from IT Solutions. That is mainly software airlines use for reservations, sales and operations, under contracts that typically run three to ten years.
Does Sabre pay a dividend?
No. Sabre pays no dividend, and its yield was 0% as of October 28, 2026. The company paid $0.14 per share in fiscal 2020 and nothing from fiscal 2021 through fiscal 2025. It bought back no stock in those years either. Free cash flow was negative in each of those years, and debt stood at about $4.32 billion as of June 30, 2026. Any return from owning the stock has to come from a rising share price.
How much debt does Sabre have?
A lot for a company its size. As of June 30, 2026, Sabre reported $4.32 billion of total debt and $676 million of cash and investments, which leaves net debt of about $3.64 billion. Shareholders' equity was negative $1.06 billion, meaning liabilities exceeded assets. The company's stock market value was only about $646 million as of October 28, 2026. Sabre's annual report warns that the debt could strain cash flow. It also says lender rules, called covenants, limit how it runs the business.
Is Sabre profitable?
Not consistently. Sabre reported net income of $524.6 million, or $1.34 per diluted share, for fiscal 2025, after five straight years of losses. That profit was higher than operating income of $295.5 million, so items outside regular operations added to it. Free cash flow was negative $191.8 million, and Sabre lost $36.2 million in the quarter ended June 30, 2026. As a result, the price-to-earnings (P/E) ratio (share price divided by earnings per share) of 1.2, as of October 28, 2026, may make the stock look cheaper than it is.
How has Sabre stock performed over the long run?
Poorly. As of October 28, 2026, the share price was down about 85% over five years and 93% over ten years. It fell in every calendar year from 2020 through 2025, including a 62.7% drop in 2025. The stock was up 17.6% for 2026 through October 28 but down 22.7% over the prior 12 months. It is also volatile. Its one-year beta of 1.8 means it moved about 1.8 times as much as the broad market over that period.