HBX Group runs a B2B travel marketplace, Hotelbeds, which sells hotel and accommodation inventory from a large supply base to tour operators, airlines and online travel agencies, and it also owns the Hotelbeds Gateway and related booking technology. The model is asset-light: HBX takes a margin on bookings without owning hotels, which explains the 87.6% gross margin and 36.3% operating margin. Revenue fell 3.1% on the latest reported year, so the thesis rests on whether volume stabilises and cash conversion holds rather than on top-line momentum. At 8.4 times trailing earnings with a 24.5% return on equity, the market is pricing in a meaningful slowdown, and the stock deserves a deeper look mainly to test whether the decline reflects cyclical softness in booking volumes or a loss of share to direct-booking platforms. The forward P/E in the data is not usable (shown as zero), so forecasts need to be built from consensus directly before any valuation conclusion is drawn.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 18 Oct 2026, 00:00 CEST | ACCE price target | €8.30 | first publication | €7.79 |
| 18 Oct 2026, 00:00 CEST | Fair value | €14.74 | first publication | €7.79 |
Answered from Hbx Group International fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| HBX.MC Hbx Group International | €7.84 | €15 | 47% below | 8.2x | 24.5% | 81 | 55 |
| LIND Lindblad Expeditions Holdings Inc. Common Stock | $35.25 | - | - | - | -1946.9% | 30 | 61 |
| FLT.AX Flight Centre Travel Group Limited | A$11.42 | A$13 | 12% below | 16.3x | 12.9% | 56 | 60 |
| SAGA.L Saga plc | £7.97 | £5 | 64% above | 44.5x | 30.3% | 65 | 68 |
| PRSU Pursuit Attractions and Hospitality Inc. Common Stock | $56.29 | $27 | 112% above | 37.3x | 8.9% | 71 | 71 |
| IRCTC.NS Indian Railway Catering & Tourism Corporation Limited | ₹451.30 | - | - | 25.9x | - | 89 | 52 |
| TUI1.DE TUI AG | €6.78 | €12 | 43% below | 6.0x | 35.7% | 44 | 50 |
Where HBX.MC ranks against its sector peers on each metric.