Your expectation likely true about the growth for ABNB. I guess I am looking at what its already worth for what its likely to make even in the next 2 years and comparing with a high quality biz in the similar space (BKNG) and think that might be a bargain , when the travel resumes.
For similar market cap, you could earn $5B vs not even $1B for ABNB. As a business owner , I would chose the former. Again no position in either at the moment. Will be interesting to revisit this thread annually.
PS. for newcomers, please do not compare stock prices to decide which one is ‘expensive’ or ‘cheap’.
You decide it based on earnings or cash flows (ideally future if not current) relative to market cap. Which is why i gave the 2023 expected net income for both and gave the market cap for both. You compare those.
When you see PE ratios , you have to do the math yourself to know which E is used by the analyst or website. They could be taking the current Earnings (E). Some take one year out. In the case of ABNB , they do not report any current GAAP earnings, hence i had to look at 2023 estimates to make a comparison. Now, the 2023 is an estimate so take all of that with a bag of salt or pepper , depending on your choice of condiment