ABNB (Airbnb Inc) vs S&P 500 Comparison

ABNB

S&P 500

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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ABNB

S&P 500

Difference

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ABNB

S&P 500

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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S&P 500

ABNB

BKNG

HTHTN

MAR

RCL

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Airbnb Inc
Glance View

Economic Moat

Narrow

Market Cap

83.2B USD

Industry

Hotels, Restaurants & Leisure

In the span of just over a decade, Airbnb Inc. revolutionized the way people think about travel accommodation, emerging as a modern-day juggernaut in the hospitality industry. Founded in 2008 by Brian Chesky, Joe Gebbia, and Nathan Blecharczyk, Airbnb was born out of a simple idea: offering travelers an alternative to traditional hotels by renting out space in personal homes. This innovative concept tapped into the burgeoning sharing economy and leveraged the power of digital connectivity. With its user-friendly platform, Airbnb connects hosts looking to monetize their extra space with travelers seeking unique and often more affordable lodging experiences. By allowing customers to book anything from a spare room to an entire villa, Airbnb has created a diverse marketplace that appeals to a wide array of preferences and budgets. Airbnb's business model rests on its ability to charge service fees for each booking. The company takes a percentage cut from both the guest, who pays a service fee as part of their booking total, and the host, who incurs a separate service charge. This dual-revenue system enables Airbnb to profit from every transaction processed through its platform. Moreover, the strategic expansion into experiences and adventures since 2016 has opened new revenue streams, allowing users to book activities and tours curated by locals. By continually evolving its offerings and maintaining a robust digital marketplace, Airbnb has carved a niche that transcends conventional borders in hospitality. Through this model, the company not only generates revenue but also ensures a high degree of scalability within its operations.

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ABNB Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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ABNB

vs

S&P 500

Stocks Performance
ABNB vs S&P 500

Performance Gap
ABNB vs S&P 500

Performance By Year
ABNB vs S&P 500

Competitors Performance
Airbnb Inc vs Peers

Airbnb Inc
Glance View

Company

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ABNB vs S&P 500

Stocks Performance ABNB vs S&P 500

Performance Gap ABNB vs S&P 500

Performance By Year ABNB vs S&P 500

Competitors Performance Airbnb Inc vs Peers

Airbnb Inc Glance View

Company

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Stocks

ABNB

vs

S&P 500

Stocks Performance
ABNB vs S&P 500

Performance Gap
ABNB vs S&P 500

Performance By Year
ABNB vs S&P 500

Competitors Performance
Airbnb Inc vs Peers

Airbnb Inc
Glance View