Balance Sheet Booking Holdings Inc.

Equities

BKNG

US09857L1089

Leisure & Recreation

Market Closed - Nasdaq Other stock markets 04:00:00 2026-03-10 pm EDT			5-day change	1st Jan Change
4,371.77 ^USD	-1.55%		+5.25%	-18.37%

05:42am	Bernstein Adjusts PT on Booking Holdings to $4,698 From $5,407, Maintains Market Perform Rating	MT
Mar. 10	Booking: Guilty until proven innocent?

2450405e1.CCx2je7jaHpq9SSdwIyhAEy78DLGdRQ3l0m8_DVE1kM.T28n26GaCjUrx3Ckr_bkZxv6sWuzQ2Vy2SXkvwRynwxhbxu7oqouAy2tZQ

Published financial data: BOOKING HOLDINGS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	10.96B	17.09B	21.36B	23.74B	26.92B
Total Revenues	10.96B	17.09B	21.36B	23.74B	26.92B
Cost of Goods Sold, Total	2.18B	2.46B	3.29B	3.35B	3.4B
Gross Profit	8.78B	14.62B	18.07B	20.38B	23.51B
Selling General & Admin Expenses, Total	5.71B	9.27B	11.64B	12.2B	13.36B
Depreciation & Amortization - (IS)	421M	451M	504M	591M	623M
Other Operating Expenses	-	-	5M	-	45M
Other Operating Expenses, Total	6.14B	9.72B	12.15B	12.8B	14.03B
Operating Income	2.64B	4.9B	5.92B	7.59B	9.49B
Interest Expense, Total	-334M	-391M	-897M	-1.3B	-1.62B
Interest And Investment Income	16M	219M	1.02B	1.11B	921M
Net Interest Expenses	-318M	-172M	123M	-181M	-696M
Currency Exchange Gains (Loss)	111M	-43M	-348M	383M	-1.49B
Other Non Operating Income (Expenses)	-13M	-1M	2M	-528M	173M
EBT, Excl. Unusual Items	2.42B	4.69B	5.7B	7.26B	7.47B
Restructuring Charges	-13M	199M	-	-34M	-205M
Merger & Related Restructuring Charges	-	-	-90M	-	-
Impairment of Goodwill	-	-	-	-	-180M
Gain (Loss) On Sale Of Investments	-569M	-963M	-131M	63M	46M
Asset Writedown	-	-	-	-	-277M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-378M	-	-	-	-25M
EBT, Incl. Unusual Items	1.46B	3.92B	5.48B	7.29B	6.83B
Income Tax Expense	300M	865M	1.19B	1.41B	1.43B
Earnings From Continuing Operations	1.16B	3.06B	4.29B	5.88B	5.4B
Net Income to Company	1.16B	3.06B	4.29B	5.88B	5.4B
Net Income - (IS)	1.16B	3.06B	4.29B	5.88B	5.4B
Net Income to Common Incl Extra Items	1.16B	3.06B	4.29B	5.88B	5.4B
Net Income to Common Excl. Extra Items	1.16B	3.06B	4.29B	5.88B	5.4B
Per Share Items
Net EPS - Basic	28.39	76.7	118.68	174.94	166.52
Basic EPS - Continuing Operations	28.39	76.7	118.68	174.94	166.52
Basic Weighted Average Shares Outstanding	41.04M	39.87M	36.14M	33.62M	32.45M
Net EPS - Diluted	28.17	76.35	117.4	172.69	165.57
Diluted EPS - Continuing Operations	28.17	76.35	117.4	172.69	165.57
Diluted Weighted Average Shares Outstanding	41.36M	40.05M	36.53M	34.06M	32.64M
Normalized Basic EPS	36.93	73.47	98.61	135.01	143.92
Normalized Diluted EPS	36.64	73.14	97.56	133.26	143.1
Dividend Per Share	-	-	-	35	38.4
Payout Ratio	-	-	-	19.96	23.09
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	3.07B	5.35B	6.43B	8.18B	10.11B
EBITA	2.81B	5.13B	5.92B	7.81B	9.69B
EBIT	2.64B	4.9B	5.92B	7.59B	9.49B
EBITDAR	3.29B	5.55B	6.69B	8.44B	10.36B
Total Revenues (As Reported)	10.96B	17.09B	21.36B	23.74B	26.92B
Effective Tax Rate - (Ratio)	20.48	22.05	21.75	19.34	20.9
Current Domestic Taxes	80M	-23M	299M	-233M	88M
Current Foreign Taxes	665M	1.14B	1.37B	1.54B	1.86B
Total Current Taxes	745M	1.12B	1.67B	1.31B	1.94B
Deferred Domestic Taxes	-342M	-196M	-431M	73M	-468M
Deferred Foreign Taxes	-103M	-61M	-47M	25M	-48M
Total Deferred Taxes	-445M	-257M	-478M	98M	-516M
Normalized Net Income	1.52B	2.93B	3.56B	4.54B	4.67B
Interest on Long-Term Debt	323M	261M	409M	788M	1.15B
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Marketing Expenses	3.8B	5.99B	6.77B	7.28B	8.19B
Selling and Marketing Expenses	4.68B	7.81B	9.52B	10.4B	11.64B
General and Administrative Expenses	1.03B	1.46B	2.12B	1.81B	1.72B
Net Rental Expense, Total	228M	200M	262M	256M	250M
Imputed Operating Lease Interest Expense	50.85M	50.77M	133M	165M	176M
Imputed Operating Lease Depreciation	177M	149M	129M	91.47M	73.52M
Stock-Based Comp., COGS (Total)	370M	404M	530M	599M	613M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	6M	-	-	-	4M
Total Stock-Based Compensation	376M	404M	530M	599M	617M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	11.13B	12.22B	12.11B	16.16B	17.2B
Short Term Investments	25M	175M	576M	-	-
Total Cash And Short Term Investments	11.15B	12.4B	12.68B	16.16B	17.2B
Accounts Receivable, Total	1.36B	2.23B	3.25B	3.2B	3.82B
Other Receivables	-	-	-	-	-
Total Receivables	1.36B	2.23B	3.25B	3.2B	3.82B
Prepaid Expenses	404M	477M	644M	587M	611M
Restricted Cash	25M	30M	28M	-	-
Other Current Assets, Total	206M	666M	426M	541M	630M
Total Current Assets	13.14B	15.8B	17.03B	20.49B	22.26B
Gross Property Plant And Equipment	2.62B	2.64B	2.71B	2.78B	3.08B
Accumulated Depreciation	-1.3B	-1.32B	-1.22B	-1.39B	-1.64B
Net Property Plant And Equipment	1.32B	1.31B	1.49B	1.39B	1.44B
Long-term Investments	3.18B	2.79B	440M	536M	582M
Goodwill	2.89B	2.81B	2.83B	2.8B	2.67B
Other Intangibles, Total	2.06B	1.83B	1.61B	1.38B	918M
Deferred Tax Assets Long-Term	554M	613M	294M	662M	940M
Other Long-Term Assets, Total	505M	211M	646M	447M	452M
Total Assets	23.64B	25.36B	24.34B	27.71B	29.26B
Liabilities
Accounts Payable, Total	1.59B	2.51B	3.48B	3.82B	5.09B
Accrued Expenses, Total	1.34B	2.09B	3.41B	4.99B	3.29B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	1.99B	500M	1.96B	1.74B	1.88B
Current Portion of Leases	143M	146M	186M	148M	121M
Current Income Taxes Payable	268M	980M	1B	905M	928M
Unearned Revenue Current, Total	-	-	-	-	78M
Other Current Liabilities	920M	2.25B	3.29B	4.03B	5.31B
Total Current Liabilities	6.25B	8.47B	13.33B	15.65B	16.7B
Long-Term Debt	8.94B	11.98B	12.22B	14.85B	16.86B
Long-Term Leases	351M	584M	633M	490M	557M
Deferred Tax Liability Non Current	905M	685M	258M	289M	17M
Other Non Current Liabilities	1.02B	851M	642M	449M	714M
Total Liabilities	17.46B	22.58B	27.09B	31.73B	34.84B
Common Stock, Total	-	-	-	-	1M
Additional Paid In Capital	6.16B	6.49B	7.18B	7.71B	8.36B
Retained Earnings	24.45B	27.54B	31.83B	36.52B	40.67B
Treasury Stock	-24.29B	-30.98B	-41.43B	-47.88B	-54.32B
Comprehensive Income and Other	-144M	-267M	-323M	-375M	-290M
Total Common Equity	6.18B	2.78B	-2.74B	-4.02B	-5.58B
Total Equity	6.18B	2.78B	-2.74B	-4.02B	-5.58B
Total Liabilities And Equity	23.64B	25.36B	24.34B	27.71B	29.26B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	40.89M	37.65M	34.17M	32.82M	31.67M
ECS Total Common Shares Outstanding	41.07M	37.86M	34.4M	32.95M	31.89M
Book Value / Share	150.44	73.48	-79.77	-122.01	-174.89
Tangible Book Value	1.23B	-1.85B	-7.18B	-8.2B	-9.16B
Tangible Book Value Per Share	30.05	-48.97	-208.82	-248.92	-287.36
Total Debt	11.42B	13.22B	15B	17.24B	19.41B
Net Debt	-2.58B	-1.25B	2.01B	681M	1.78B
Debt Equivalent Oper. Leases	1.82B	1.6B	2.1B	2.05B	2B
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	789M	816M	679M	759M	811M
Full Time Employees	20.1K	21.38K	23.36K	24.06K	23.57K
Part Time Employees	203	216	236	243	729
Accumulated Allowance for Doubtful Accounts (Supple)	101M	117M	137M	146M	137M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.16B	3.06B	4.29B	5.88B	5.4B
Depreciation & Amortization - CF	437M	383M	665M	530M	564M
Amortization of Goodwill and Intangible Assets - (CF)	162M	224M	-	221M	204M
Depreciation & Amortization, Total	599M	607M	665M	751M	768M
Amortization of Deferred Charges, Total - (CF)	54M	-	-	-	360M
(Gain) Loss From Sale Of Asset	-	-240M	-	-	-
(Gain) Loss on Sale of Investments - (CF)	569M	963M	131M	-63M	-46M
Asset Writedown & Restructuring Costs	-	-	-	-	457M
Stock-Based Compensation (CF)	376M	404M	530M	599M	617M
Provision and Write-off of Bad Debts	109M	232M	330M	412M	416M
Other Operating Activities, Total	-321M	-265M	-310M	375M	898M
Change In Accounts Receivable	-1B	-1.23B	-1.33B	-506M	-730M
Change In Accounts Payable	-	-	-	-	-
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets	1.27B	3.02B	3.04B	873M	1.26B
Cash from Operations	2.82B	6.55B	7.34B	8.32B	9.41B
Capital Expenditure	-304M	-368M	-345M	-429M	-322M
Cash Acquisitions	-1.18B	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	491M	-736M	1.83B	557M	-
Other Investing Activities, Total	-	586M	3M	1M	9M
Cash from Investing	-998M	-518M	1.49B	129M	-313M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	2.02B	3.62B	1.89B	4.84B	3.68B
Total Debt Issued	2.02B	3.62B	1.89B	4.84B	3.68B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-3.07B	-1.88B	-500M	-1.31B	-4.97B
Total Debt Repaid	-3.07B	-1.88B	-500M	-1.31B	-4.97B
Issuance of Common Stock	-	-	134M	14M	15M
Repurchase of Common Stock	-163M	-6.62B	-10.38B	-6.51B	-6.44B
Common Dividends Paid	-	-	-	-1.17B	-1.25B
Common & Preferred Stock Dividends Paid	-	-	-	-1.17B	-1.25B
Other Financing Activities, Total	-23M	-17M	-59M	-59M	47M
Cash from Financing	-1.24B	-4.9B	-8.91B	-4.2B	-8.92B
Foreign Exchange Rate Adjustments	-13M	-40M	-37M	-190M	895M
Net Change in Cash	570M	1.1B	-116M	4.06B	1.08B
Supplemental Items
Cash Interest Paid	318M	380M	842M	953M	1.1B
Cash Income Tax Paid (Refund)	735M	600M	1.79B	1.9B	2.28B
Levered Free Cash Flow	3.15B	5.77B	6.4B	7.45B	6.55B
Unlevered Free Cash Flow	3.31B	6.02B	6.96B	8.26B	7.2B
Change In Net Working Capital	-983M	-2.31B	-2.41B	-2.6B	-209M
Net Debt Issued / Repaid	-1.05B	1.74B	1.39B	3.52B	-1.29B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.26	12.51	14.9	18.23	20.82
Return on Total Capital	9.44	18.24	26.21	37.24	43.84
Return On Equity %	21.05	68.26	22.57K	-173.92	-112.61
Return on Common Equity	21.05	68.26	22.57K	-173.92	-112.61
Margin Analysis
Gross Profit Margin %	80.12	85.58	84.58	85.87	87.36
SG&A Margin	52.14	54.25	54.47	51.41	49.63
EBITDA Margin %	27.98	31.33	30.09	34.46	37.56
EBITA Margin %	25.62	30	27.73	32.9	36
EBIT Margin %	24.14	28.69	27.73	31.97	35.25
Income From Continuing Operations Margin %	10.63	17.89	20.07	24.78	20.08
Net Income Margin %	10.63	17.89	20.07	24.78	20.08
Net Avail. For Common Margin %	10.63	17.89	20.07	24.78	20.08
Normalized Net Income Margin	13.83	17.14	16.68	19.12	17.35
Levered Free Cash Flow Margin	28.77	33.77	29.95	31.38	24.34
Unlevered Free Cash Flow Margin	30.18	35.2	32.57	34.79	26.75
Asset Turnover
Asset Turnover	0.48	0.7	0.86	0.91	0.94
Fixed Assets Turnover	8.42	12.99	15.24	16.49	19.02
Receivables Turnover (Average Receivables)	11.61	9.53	7.79	7.36	7.67
Short Term Liquidity
Current Ratio	2.1	1.86	1.28	1.31	1.33
Quick Ratio	2	1.73	1.2	1.24	1.26
Operating Cash Flow to Current Liabilities	0.45	0.77	0.55	0.53	0.56
Days Sales Outstanding (Average Receivables)	31.43	38.3	46.83	49.74	47.59
Average Days Payable Outstanding	194.48	303.03	331.7	392.74	478.26
Long Term Solvency
Total Debt/Equity	184.85	475.02	-546.76	-428.76	-348.05
Total Debt / Total Capital	64.89	82.61	122.38	130.42	140.32
LT Debt/Equity	150.34	451.8	-468.51	-381.67	-312.17
Long-Term Debt / Total Capital	52.78	78.57	104.87	116.09	125.85
Total Liabilities / Total Assets	73.87	89.03	111.27	114.51	119.06
EBIT / Interest Expense	7.92	12.54	6.61	5.86	5.87
EBITDA / Interest Expense	9.86	14.2	7.46	6.51	6.41
(EBITDA - Capex) / Interest Expense	8.95	13.26	7.07	6.18	6.21
Total Debt / EBITDA	3.47	2.38	2.24	2.04	1.87
Net Debt / EBITDA	-0.78	-0.23	0.3	0.08	0.17
Total Debt / (EBITDA - Capex)	3.82	2.55	2.36	2.15	1.93
Net Debt / (EBITDA - Capex)	-0.86	-0.24	0.32	0.09	0.18
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	61.24	55.96	25.01	11.11	13.39
Gross Profit, 1 Yr. Growth %	88.7	66.57	23.56	12.8	15.35
EBITDA, 1 Yr. Growth %	265.44	74.62	21	27.24	23.59
EBITA, 1 Yr. Growth %	412.23	82.65	21.86	27.05	24.08
EBIT, 1 Yr. Growth %	594.23	85.37	21.86	28.08	25.01
Earnings From Cont. Operations, 1 Yr. Growth %	1.87K	162.49	40.26	37.14	-8.13
Net Income, 1 Yr. Growth %	1.87K	162.49	40.26	37.14	-8.13
Normalized Net Income, 1 Yr. Growth %	-1.91K	93.28	22.73	27.38	2.89
Diluted EPS Before Extra, 1 Yr. Growth %	1.86K	171.03	53.77	47.1	-4.12
Accounts Receivable, 1 Yr. Growth %	156.71	64.14	45.94	-1.66	19.41
Net Property, Plant and Equip., 1 Yr. Growth %	2.57	-0.3	13.32	-6.58	3.45
Total Assets, 1 Yr. Growth %	8.08	7.28	-4.02	13.83	5.62
Tangible Book Value, 1 Yr. Growth %	4.05	-250.24	287.43	14.17	11.75
Common Equity, 1 Yr. Growth %	26.26	-54.97	-198.63	46.5	38.76
Cash From Operations, 1 Yr. Growth %	3.22K	132.41	12.05	13.33	13.05
Capital Expenditures, 1 Yr. Growth %	6.29	21.05	-6.25	24.35	-24.94
Levered Free Cash Flow, 1 Yr. Growth %	2.24K	86.53	11.35	16.43	-20.56
Unlevered Free Cash Flow, 1 Yr. Growth %	1.03K	82.14	16.16	18.68	-12.81
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	9.71
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-14.72	58.58	39.63	17.86	12.24
Gross Profit, 2 Yr. CAGR %	-17.24	74.94	43.46	18.06	14.07
EBITDA, 2 Yr. CAGR %	-27.38	135.55	45.11	24.08	25.4
EBITA, 2 Yr. CAGR %	-28.69	175.8	50.04	23.92	25.56
EBIT, 2 Yr. CAGR %	-29.65	210.98	50.04	24.94	26.54
Earnings From Cont. Operations, 2 Yr. CAGR %	-51.06	619.93	91.87	38.69	12.25
Net Income, 2 Yr. CAGR %	-51.06	619.93	91.87	38.69	12.25
Normalized Net Income, 2 Yr. CAGR %	-31.8	2.32K	53.75	25.03	14.48
Diluted EPS Before Extra, 2 Yr. CAGR %	-49.81	628.17	104.15	50.39	18.76
Accounts Receivable, 2 Yr. CAGR %	-10.09	105.27	54.77	19.8	8.37
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.48	1.12	6.29	2.89	-1.69
Total Assets, 2 Yr. CAGR %	5.1	7.68	1.47	4.52	9.64
Tangible Book Value, 2 Yr. CAGR %	7.59	25.03	141.27	110.32	12.96
Common Equity, 2 Yr. CAGR %	2.04	-24.6	-33.36	20.21	42.58
Cash From Operations, 2 Yr. CAGR %	-23.87	778.1	61.38	12.69	13.19
Capital Expenditures, 2 Yr. CAGR %	-9.11	13.43	6.53	7.97	-3.39
Levered Free Cash Flow, 2 Yr. CAGR %	-12.5	521.62	43.99	13.86	1.18
Unlevered Free Cash Flow, 2 Yr. CAGR %	-11.53	302.22	45.33	17.42	1.73
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-8.97	4.29	46.49	29.39	16.35
Gross Profit, 3 Yr. CAGR %	-11.07	4.49	55.79	32.42	17.15
EBITDA, 3 Yr. CAGR %	-18.99	-2.71	88.16	38.89	23.92
EBITA, 3 Yr. CAGR %	-20.18	-2.43	106.38	43.7	23.97
EBIT, 3 Yr. CAGR %	-20.88	-2.84	126.93	42.33	24.96
Earnings From Cont. Operations, 3 Yr. CAGR %	-33.7	-14.34	317.35	71.55	20.9
Net Income, 3 Yr. CAGR %	-33.7	-14.34	317.35	71.55	20.9
Normalized Net Income, 3 Yr. CAGR %	-22.46	-3.48	793.26	44.4	17.17
Diluted EPS Before Extra, 3 Yr. CAGR %	-30.32	-11.94	333.62	83.02	29.44
Accounts Receivable, 3 Yr. CAGR %	-3.75	9.88	83.21	33.06	19.67
Net Property, Plant and Equip., 3 Yr. CAGR %	26.18	-1.09	5.03	1.81	3.08
Total Assets, 3 Yr. CAGR %	1.38	5.82	3.63	5.43	4.89
Tangible Book Value, 3 Yr. CAGR %	-30.67	20.26	82.28	88.01	70.35
Common Equity, 3 Yr. CAGR %	-11.07	-22.31	-17.54	-13.35	26.1
Cash From Operations, 3 Yr. CAGR %	-19.16	10.44	342.08	43.44	12.81
Capital Expenditures, 3 Yr. CAGR %	-11.73	0	6.45	12.17	-4.35
Levered Free Cash Flow, 3 Yr. CAGR %	-6.01	11.92	249.89	34.14	4.46
Unlevered Free Cash Flow, 3 Yr. CAGR %	-5.4	12.5	165.49	35.84	6.33
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.4	6.15	8.02	9.52	31.69
Gross Profit, 5 Yr. CAGR %	-3.2	3.29	7.68	9.72	37.53
EBITDA, 5 Yr. CAGR %	-5.9	1.76	2.2	7.07	59.97
EBITA, 5 Yr. CAGR %	-6.91	1.67	1.43	7.19	70.43
EBIT, 5 Yr. CAGR %	-7.22	1.54	2.1	7.26	79.65
Earnings From Cont. Operations, 5 Yr. CAGR %	-11.41	5.49	1.42	3.87	146.82
Net Income, 5 Yr. CAGR %	-11.41	5.49	1.42	3.87	146.82
Normalized Net Income, 5 Yr. CAGR %	-8.19	1.25	1.85	6.86	292.72
Diluted EPS Before Extra, 5 Yr. CAGR %	-7.96	10.26	7.11	9.08	158.3
Accounts Receivable, 5 Yr. CAGR %	9.56	12.85	16.39	13.75	48.5
Net Property, Plant and Equip., 5 Yr. CAGR %	30.59	22.31	17.81	0.48	2.29
Total Assets, 5 Yr. CAGR %	3.57	-0.07	1.42	5.3	5.99
Tangible Book Value, 5 Yr. CAGR %	-25.52	-21.69	14.17	50.39	50.53
Common Equity, 5 Yr. CAGR %	-8.85	-24.39	-20.76	-7.49	2.66
Cash From Operations, 5 Yr. CAGR %	-6.68	7.05	6.59	11.34	156.34
Capital Expenditures, 5 Yr. CAGR %	6.68	5.02	-4.83	3.12	2.4
Levered Free Cash Flow, 5 Yr. CAGR %	1.7	10.78	11	12.59	113.01
Unlevered Free Cash Flow, 5 Yr. CAGR %	2.31	11.19	12.24	14.34	80.89