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Booking (BKNG) Financials

Booking logo
$5,405.91 -26.19 (-0.48%)
Closing price 08/8/2025 04:00 PM Eastern
Extended Trading
$5,398.96 -6.95 (-0.13%)
As of 08/8/2025 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Booking

Annual Income Statements for Booking

This table shows Booking's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
2,422 2,551 2,135 2,341 3,998 4,865 59 1,165 3,058 4,289 5,882
Consolidated Net Income / (Loss)
2,422 2,551 2,135 2,341 3,998 4,865 59 1,165 3,058 4,289 5,882
Net Income / (Loss) Continuing Operations
2,422 2,551 2,135 2,341 3,998 4,865 59 1,165 3,058 4,289 5,882
Total Pre-Tax Income
2,989 3,128 2,713 4,399 4,835 5,958 567 1,465 3,923 5,481 7,292
Total Operating Income
3,073 3,259 2,906 4,538 5,341 5,345 -631 2,496 5,102 5,835 7,555
Total Gross Profit
7,584 8,592 10,328 12,439 12,485 12,818 4,852 10,958 14,625 21,365 23,739
Total Revenue
8,442 9,224 10,743 12,681 14,527 15,066 6,796 10,958 17,090 21,365 23,739
Operating Revenue
8,032 8,611 10,743 12,681 14,527 15,066 6,796 10,958 17,090 21,365 23,739
Total Cost of Revenue
858 632 415 242 2,042 2,248 1,944 0.00 2,465 0.00 0.00
Total Operating Expenses
4,511 5,333 7,422 7,901 7,144 7,473 5,483 8,462 9,523 15,530 16,184
Selling, General & Admin Expense
1,401 1,695 1,944 765 932 1,082 880 3,248 1,292 5,504 5,161
Marketing Expense
2,902 3,365 3,806 435 4,956 4,967 2,179 3,801 5,993 6,773 7,278
Depreciation Expense
208 272 309 363 426 469 458 421 451 504 591
Other Operating Expenses / (Income)
- - 422 6,338 830 955 755 979 1,787 2,744 3,120
Total Other Income / (Expense), net
-84 -131 -193 -139 -506 613 1,198 -1,031 -1,179 -354 -263
Interest Expense
88 160 208 254 269 266 356 334 391 897 1,295
Interest & Investment Income
14 56 95 157 - - - - 219 1,020 1,114
Other Income / (Expense), net
-9.44 -26 -80 -42 -237 879 1,554 -697 -1,007 -477 -82
Income Tax Expense
568 577 578 2,058 837 1,093 508 300 865 1,192 1,410
Basic Earnings per Share
$46.30 $50.09 $43.14 $47.78 $84.26 $112.93 $1.45 $28.39 $76.70 $118.67 $174.96
Weighted Average Basic Shares Outstanding
52.30M 50.94M 49.49M 48.99M 47.45M 43.08M 40.97M 41.04M 39.87M 36.14M 33.62M
Diluted Earnings per Share
$45.67 $49.45 $42.65 $46.86 $83.26 $111.82 $1.44 $28.17 $76.35 $117.40 $172.69
Weighted Average Diluted Shares Outstanding
53.02M 51.59M 50.06M 49.95M 48.02M 43.51M 41.16M 41.36M 40.05M 36.53M 34.06M
Weighted Average Basic & Diluted Shares Outstanding
51.94M 50.90M 49.50M 49M 45.01M 41.06M 40.96M 40.89M 37.65M 34.17M 32.82M
Cash Dividends to Common per Share
- - - - - - - - - - $8.75

Quarterly Income Statements for Booking

This table shows Booking's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
1,235 266 1,290 2,511 222 776 1,521 2,517 1,068 333 895
Consolidated Net Income / (Loss)
1,235 266 1,290 2,511 222 776 1,521 2,517 1,068 333 895
Net Income / (Loss) Continuing Operations
1,235 266 1,290 2,511 222 776 1,521 2,517 1,068 333 895
Total Pre-Tax Income
1,452 303 1,618 3,149 411 937 1,922 2,869 1,564 396 1,104
Total Operating Income
1,345 450 1,673 3,103 609 791 1,856 3,179 1,729 1,062 2,250
Total Gross Profit
2,180 3,056 4,710 7,341 6,258 4,415 5,859 7,994 7,104 4,762 6,798
Total Revenue
4,049 3,778 5,462 7,341 4,784 4,415 5,859 7,994 5,471 4,762 6,798
Operating Revenue
4,049 3,778 5,462 7,341 4,784 4,415 5,859 7,994 5,471 4,762 6,798
Total Cost of Revenue
1,869 722 752 0.00 -1,474 0.00 0.00 0.00 -1,633 0.00 0.00
Total Operating Expenses
835 2,606 3,037 4,238 5,649 3,624 4,003 4,815 5,375 3,700 4,548
Selling, General & Admin Expense
-1,006 399 398 1,280 3,427 1,199 1,102 1,637 2,856 1,035 1,314
Marketing Expense
1,314 1,517 1,801 2,022 1,433 1,610 1,939 2,151 1,578 1,777 2,139
Depreciation Expense
124 120 121 129 134 137 142 155 157 154 158
Other Operating Expenses / (Income)
443 570 717 807 650 678 820 872 750 702 899
Total Other Income / (Expense), net
107 -147 -55 46 -198 146 66 -310 -165 -666 -1,146
Interest Expense
145 194 241 254 208 219 264 305 507 649 418
Interest & Investment Income
- 228 266 289 237 243 293 327 251 241 234
Other Income / (Expense), net
33 -181 -80 11 -227 122 37 -332 91 -258 -962
Income Tax Expense
217 37 328 638 189 161 401 352 496 63 209
Basic Earnings per Share
$30.55 $7.07 $35.16 $70.62 $5.82 $22.69 $44.94 $75.37 $31.96 $10.14 $27.54
Weighted Average Basic Shares Outstanding
39.87M 37.62M 36.68M 35.57M 36.14M 34.21M 33.84M 33.40M 33.62M 32.85M 32.49M
Diluted Earnings per Share
$30.40 $7.00 $34.89 $69.80 $5.71 $22.37 $44.38 $74.34 $31.60 $10.07 $27.43
Weighted Average Diluted Shares Outstanding
40.05M 37.98M 36.96M 35.99M 36.53M 34.71M 34.27M 33.86M 34.06M 33.09M 32.62M
Weighted Average Basic & Diluted Shares Outstanding
37.65M 36.93M 35.69M 34.89M 34.17M 33.93M 33.52M 33.10M 32.82M 32.54M 32.41M

Annual Cash Flow Statements for Booking

This table details how cash moves in and out of Booking's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
1,849 -1,671 604 381 82 3,687 4,250 570 1,099 -116 4,058
Net Cash From Operating Activities
2,642 3,204 3,984 4,662 5,338 4,865 85 2,820 6,554 7,344 8,323
Net Cash From Continuing Operating Activities
2,914 3,204 3,984 4,662 5,338 4,865 85 2,820 6,554 7,344 8,323
Net Income / (Loss) Continuing Operations
2,422 2,551 2,135 2,341 3,998 4,865 59 1,165 3,058 4,289 5,882
Consolidated Net Income / (Loss)
2,422 2,551 2,135 2,341 3,998 4,865 59 1,165 3,058 4,289 5,882
Depreciation Expense
- 102 140 363 426 469 458 421 451 504 591
Amortization Expense
184 245 246 79 59 230 184 178 156 161 160
Non-Cash Adjustments To Reconcile Net Income
29 375 1,361 333 880 -280 191 1,232 1,351 1,159 1,225
Changes in Operating Assets and Liabilities, net
6.31 -70 102 1,546 -25 -419 -807 -176 1,538 1,231 465
Net Cash From Investing Activities
-2,358 -3,895 -3,333 -4,202 2,215 7,050 2,637 -998 -518 1,486 129
Net Cash From Continuing Investing Activities
-2,358 -3,895 -3,333 -4,202 2,215 7,050 2,637 -998 -518 1,486 129
Purchase of Property, Plant & Equipment
-132 -174 -220 -288 -442 -368 -286 -304 -368 -345 -429
Purchase of Investments
-10,647 -9,118 -6,748 -6,941 -2,686 -672 -74 -17 -768 -12 -33
Sale and/or Maturity of Investments
10,917 5,538 3,684 3,580 5,616 8,099 2,997 508 32 1,840 590
Other Investing Activities, net
- - - - - - 0.00 0.00 586 3.00 1.00
Net Cash From Financing Activities
1,554 -831 -1.00 -79 -7,431 -8,220 1,528 -1,239 -4,897 -8,909 -4,204
Net Cash From Continuing Financing Activities
1,429 -831 -1.00 -79 -7,431 -8,220 1,528 -1,239 -4,897 -8,909 -4,204
Repayment of Debt
-995 -387 0.00 -296 -1,487 -433 -1,277 -3,096 -1,904 -559 -1,371
Repurchase of Common Equity
-750 -3,089 -1,012 -1,828 -5,971 -8,187 -1,303 -163 -6,621 -10,377 -6,509
Payment of Dividends
- - - - - - - - 0.00 0.00 -1,174
Issuance of Debt
3,260 2,624 995 2,045 27 400 4,108 2,015 3,621 1,893 4,836
Other Financing Activities, net
40 21 16 - - - - 5.00 7.00 134 14
Effect of Exchange Rate Changes
- - -46 - -40 -8.00 - -13 -40 -37 -190

Quarterly Cash Flow Statements for Booking

This table details how cash moves in and out of Booking's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
3,205 1,921 458 -1,304 -1,191 3,529 665 -521 385 -580 2,024
Net Cash From Operating Activities
2,173 2,889 1,737 1,372 1,346 2,704 2,525 2,373 721 3,283 3,201
Net Cash From Continuing Operating Activities
2,173 2,889 1,737 1,372 1,346 2,704 2,525 2,373 721 3,283 3,201
Net Income / (Loss) Continuing Operations
1,235 266 1,290 2,511 222 776 1,521 2,517 1,068 333 895
Consolidated Net Income / (Loss)
1,235 266 1,290 2,511 222 776 1,521 2,517 1,068 333 895
Depreciation Expense
124 120 121 129 134 137 142 155 157 154 158
Amortization Expense
39 41 39 40 41 40 39 35 46 422 167
Non-Cash Adjustments To Reconcile Net Income
-242 326 251 168 414 82 164 559 420 467 1,204
Changes in Operating Assets and Liabilities, net
1,017 2,136 36 -1,476 535 1,669 659 -893 -970 1,907 777
Net Cash From Investing Activities
510 1,586 -39 -22 -39 69 137 -2.00 -75 -118 -61
Net Cash From Continuing Investing Activities
510 1,586 -39 -22 -39 69 137 -2.00 -75 -118 -61
Purchase of Property, Plant & Equipment
-75 -88 -92 -71 -94 -130 -146 -77 -76 -121 -64
Other Investing Activities, net
600 -9.00 -1.00 1.00 12 -19 -14 - 34 3.00 3.00
Net Cash From Financing Activities
479 -2,562 -1,225 -2,632 -2,490 784 -1,966 -3,165 143 -3,967 -1,797
Net Cash From Continuing Financing Activities
479 -2,562 -1,225 -2,632 -2,490 784 -1,966 -3,165 143 -3,967 -1,797
Repayment of Debt
-799 -517 -23 -5.00 -14 -20 -12 -1,112 -221 -1,478 -1,942
Repurchase of Common Equity
-2,343 -2,150 -3,099 -2,640 -2,488 -1,856 -1,662 -1,764 -1,227 -2,170 -1,498
Payment of Dividends
- 0.00 - - - -299 -295 -291 -289 -319 -312
Issuance of Debt
3,621 0.00 1,893 - - 2,959 - - 1,877 0.00 1,955
Effect of Exchange Rate Changes
43 8.00 -15 -22 -8.00 -28 -31 273 -404 222 681

Annual Balance Sheets for Booking

This table presents Booking's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
14,771 17,421 19,839 25,451 22,687 21,402 21,874 23,641 25,361 24,342 27,708
Total Current Assets
5,114 3,553 5,402 9,035 8,407 9,833 12,206 13,145 15,798 17,034 20,491
Cash & Equivalents
3,149 1,477 2,081 2,542 2,624 6,312 10,562 11,127 12,221 12,107 16,164
Accounts Receivable
644 645 860 1,218 1,523 1,680 529 1,358 2,229 3,253 3,199
Prepaid Expenses
178 260 241 415 600 479 337 404 477 644 587
Other Current Assets
- - - - - 364 277 231 696 454 541
Plant, Property, & Equipment, net
199 275 347 480 656 738 756 822 669 784 832
Total Noncurrent Assets
9,458 13,593 14,090 15,936 13,624 10,831 8,912 9,674 8,894 6,524 6,385
Long-Term Investments
3,756 7,931 9,591 10,873 8,408 4,477 3,759 3,175 2,789 440 536
Goodwill
3,326 3,375 2,397 2,738 2,910 2,913 1,895 2,887 2,807 2,826 2,799
Intangible Assets
2,335 2,168 1,994 2,177 2,125 1,954 1,812 2,057 1,829 1,613 1,382
Other Noncurrent Operating Assets
42 119 109 148 181 1,487 1,446 1,555 1,469 1,645 1,668
Total Liabilities & Shareholders' Equity
14,771 17,421 19,839 25,451 22,687 21,402 21,874 23,641 25,361 24,342 27,708
Total Liabilities
6,204 8,625 9,990 14,187 13,902 15,469 16,981 17,463 22,579 27,086 31,728
Total Current Liabilities
1,379 1,439 2,859 3,498 3,555 5,366 3,425 6,246 8,474 13,330 15,647
Short-Term Debt
37 0.00 968 711 0.00 988 985 1,989 500 1,961 1,745
Accounts Payable
281 323 419 668 1,134 1,239 735 1,586 2,507 3,374 3,824
Accrued Expenses
600 682 857 1,139 1,399 1,578 1,382 1,765 3,244 4,741 6,047
Current Deferred Revenue
461 435 614 980 1,022 1,561 323 906 2,223 3,254 4,031
Total Noncurrent Liabilities
4,825 7,186 7,132 10,689 10,347 10,103 13,556 11,217 14,105 13,756 16,081
Long-Term Debt
3,824 6,158 6,171 8,810 8,649 7,640 11,029 8,937 11,985 12,223 14,853
Capital Lease Obligations
- - - - 0.00 - 366 351 552 599 483
Noncurrent Deferred & Payable Income Tax Liabilities
898 893 822 1,732 1,536 1,897 2,050 1,730 1,396 773 546
Other Noncurrent Operating Liabilities
104 135 139 147 162 566 111 199 172 161 199
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
8,567 8,795 9,820 11,261 8,785 5,933 4,893 6,178 2,782 -2,744 -4,020
Total Preferred & Common Equity
8,567 8,795 9,820 11,261 8,785 5,933 4,893 6,178 2,782 -2,744 -4,020
Total Common Equity
8,567 8,795 9,820 11,261 8,785 5,933 4,893 6,178 2,782 -2,744 -4,020
Common Stock
4,924 5,185 5,483 5,783 5,445 5,756 5,851 6,159 6,491 7,175 7,707
Retained Earnings
6,641 9,192 11,327 13,939 18,367 23,232 23,288 24,453 27,541 31,830 36,525
Treasury Stock
-2,738 -5,827 -6,855 -8,699 -14,711 -22,864 -24,128 -24,290 -30,983 -41,426 -47,877
Accumulated Other Comprehensive Income / (Loss)
-260 245 -135 238 -316 -191 -118 -144 -267 -323 -375

Quarterly Balance Sheets for Booking

This table presents Booking's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets
25,361 25,206 26,558 25,635 24,342 27,728 28,541 27,978 27,708 27,191 30,684
Total Current Assets
15,798 17,632 19,349 18,479 17,034 20,476 21,293 20,529 20,491 19,950 23,263
Cash & Equivalents
12,221 14,140 14,602 13,294 12,107 15,629 16,290 15,775 16,164 15,578 17,595
Accounts Receivable
2,229 2,048 2,805 3,447 3,253 3,296 3,814 3,649 3,199 3,290 4,370
Prepaid Expenses
477 655 849 680 644 737 670 490 587 530 626
Other Current Assets
696 430 453 434 454 452 482 615 541 552 672
Plant, Property, & Equipment, net
669 699 732 733 784 805 875 882 832 857 848
Total Noncurrent Assets
8,894 6,875 6,477 6,423 6,524 6,447 6,373 6,567 6,385 6,384 6,573
Long-Term Investments
2,789 806 440 420 440 443 468 500 536 538 559
Goodwill
2,807 2,816 2,821 2,804 2,826 2,815 2,814 2,838 2,799 2,816 2,855
Intangible Assets
1,829 1,777 1,722 1,660 1,613 1,553 1,498 1,450 1,382 1,333 1,291
Other Noncurrent Operating Assets
1,469 1,476 1,494 1,539 1,645 1,636 1,593 1,779 1,668 1,697 1,868
Total Liabilities & Shareholders' Equity
25,361 25,206 26,558 25,635 24,342 27,728 28,541 27,978 27,708 27,191 30,684
Total Liabilities
22,579 24,132 27,223 26,260 27,086 31,780 32,817 31,631 31,728 33,303 37,341
Total Current Liabilities
8,474 11,070 12,481 12,832 13,330 16,832 18,206 16,678 15,647 16,394 18,636
Short-Term Debt
500 854 855 1,913 1,961 3,462 3,447 2,419 1,745 655 999
Accounts Payable
2,507 2,132 2,123 3,020 3,374 3,268 3,928 4,065 3,824 3,292 4,280
Accrued Expenses
3,244 3,584 3,463 4,182 4,741 4,774 3,900 5,287 6,047 5,576 4,208
Current Deferred Revenue
2,223 4,500 6,040 3,717 3,254 5,328 6,931 4,907 4,031 6,871 9,149
Total Noncurrent Liabilities
14,105 13,062 14,742 13,428 13,756 14,948 14,611 14,953 16,081 16,909 18,705
Long-Term Debt
11,985 11,272 13,198 11,856 12,223 13,438 13,361 13,793 14,853 15,369 17,473
Capital Lease Obligations
552 539 533 547 599 556 529 508 483 476 517
Noncurrent Deferred & Payable Income Tax Liabilities
1,396 1,079 854 865 773 802 521 448 546 411 36
Other Noncurrent Operating Liabilities
172 172 157 160 161 152 200 204 199 653 679
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
2,782 1,074 -665 -625 -2,744 -4,052 -4,276 -3,653 -4,020 -6,112 -6,657
Total Preferred & Common Equity
2,782 1,074 -665 -625 -2,744 -4,052 -4,276 -3,653 -4,020 -6,112 -6,657
Total Common Equity
2,782 1,074 -665 -625 -2,744 -4,052 -4,276 -3,653 -4,020 -6,112 -6,657
Common Stock
6,491 6,712 6,848 6,996 7,175 7,330 7,479 7,635 7,707 7,867 8,029
Retained Earnings
27,541 27,807 29,097 31,608 31,830 32,304 33,527 35,749 36,525 36,539 37,119
Treasury Stock
-30,983 -33,178 -36,319 -38,944 -41,426 -43,330 -44,958 -46,734 -47,877 -50,131 -51,502
Accumulated Other Comprehensive Income / (Loss)
-267 -267 -291 -285 -323 -356 -324 -303 -375 -387 -303

Annual Metrics And Ratios for Booking

This table displays calculated financial ratios and metrics derived from Booking's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
24.27% 9.26% 16.47% 18.04% 14.56% 3.71% -54.89% 61.24% 55.96% 25.01% 11.11%
EBITDA Growth
27.02% 10.20% -10.27% 53.74% 13.18% 23.87% -77.39% 53.23% 96.08% 28.09% 36.54%
EBIT Growth
28.97% 5.51% -12.58% 59.09% 13.52% 21.94% -85.17% 94.91% 127.63% 30.84% 39.47%
NOPAT Growth
25.22% 6.75% -13.96% 5.60% 82.88% -1.18% -101.50% 3,122.98% 100.37% 14.81% 33.47%
Net Income Growth
27.95% 5.35% -16.32% 9.65% 70.78% 21.69% -98.79% 1,874.58% 162.49% 40.26% 37.14%
EPS Growth
26.47% 8.28% -13.75% 9.87% 77.68% 34.30% -98.71% 1,856.25% 171.03% 53.77% 47.10%
Operating Cash Flow Growth
14.78% 21.27% 24.36% 17.02% 14.50% -8.86% -98.25% 3,217.65% 132.41% 12.05% 13.33%
Free Cash Flow Firm Growth
-40.07% 1,586.13% 33.79% -15.82% 39.44% 3.54% -94.06% 408.23% 394.78% -2.89% 37.64%
Invested Capital Growth
113.79% -0.15% -29.22% -18.93% 9.24% 1.17% -11.64% 27.62% -79.73% -270.98% -235.70%
Revenue Q/Q Growth
3.67% 1.76% 3.35% 3.72% 2.90% 0.84% -23.61% 18.91% 6.67% 3.56% 2.98%
EBITDA Q/Q Growth
1.65% 5.08% 5.07% 4.11% -2.12% 13.25% -45.68% 31.61% 12.14% -16.65% 5.73%
EBIT Q/Q Growth
3.47% 2.22% 5.40% 4.10% -2.42% 13.83% -57.56% 43.81% 13.50% -18.48% 5.92%
NOPAT Q/Q Growth
2.22% 2.48% 7.69% -34.25% 56.69% -2.20% -111.81% 210.72% 16.30% -14.52% 15.45%
Net Income Q/Q Growth
3.14% 2.10% 8.63% -34.43% 42.95% 12.10% -95.77% 204.97% 25.28% -19.11% 16.80%
EPS Q/Q Growth
2.84% 2.57% 9.53% -34.35% 42.52% 13.41% -95.56% 207.20% 25.29% -17.38% 17.64%
Operating Cash Flow Q/Q Growth
-2.65% 18.49% 2.96% 1.67% -1.65% -0.14% -95.11% 43.58% 40.64% -10.12% -6.98%
Free Cash Flow Firm Q/Q Growth
75.95% 7.33% 10.69% 0.12% -8.11% 16.47% -86.14% -3.82% 102.36% -14.41% 10.32%
Invested Capital Q/Q Growth
-1.68% -4.22% -10.77% -39.45% 13.76% -12.02% 32.34% 176.57% -53.14% -67.54% -13.44%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
89.84% 93.15% 96.14% 98.09% 85.94% 85.08% 71.39% 100.00% 85.58% 100.00% 100.00%
EBITDA Margin
38.48% 38.81% 29.90% 38.94% 38.47% 45.95% 23.03% 21.88% 27.51% 28.19% 34.64%
Operating Margin
36.41% 35.33% 27.05% 35.79% 36.77% 35.48% -9.28% 22.78% 29.85% 27.31% 31.83%
EBIT Margin
36.29% 35.05% 26.31% 35.45% 35.13% 41.31% 13.58% 16.42% 23.96% 25.08% 31.48%
Profit (Net Income) Margin
28.69% 27.66% 19.87% 18.46% 27.52% 32.29% 0.87% 10.63% 17.89% 20.07% 24.78%
Tax Burden Percent
81.01% 81.56% 78.70% 53.22% 82.69% 81.65% 10.41% 79.52% 77.95% 78.25% 80.66%
Interest Burden Percent
97.57% 96.77% 96.00% 97.84% 94.73% 95.73% 61.43% 81.43% 95.80% 102.30% 97.58%
Effective Tax Rate
18.99% 18.44% 21.30% 46.78% 17.31% 18.35% 89.59% 20.48% 22.05% 21.75% 19.34%
Return on Invested Capital (ROIC)
77.44% 60.72% 61.23% 86.16% 168.18% 158.25% -2.51% 71.16% 211.43% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
78.94% 63.19% 63.95% 87.11% 173.84% 147.37% -6.96% 101.01% 246.79% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)
-46.16% -31.33% -38.33% -63.98% -128.30% -92.14% 3.60% -50.11% -143.17% 0.00% 0.00%
Return on Equity (ROE)
31.28% 29.39% 22.90% 22.18% 39.88% 66.11% 1.09% 21.05% 68.26% 22,573.68% -173.92%
Cash Return on Invested Capital (CROIC)
4.92% 60.87% 95.45% 107.06% 159.35% 157.09% 9.85% 46.89% 344.02% 0.00% 0.00%
Operating Return on Assets (OROA)
24.30% 20.08% 15.17% 19.85% 21.21% 28.23% 4.27% 7.91% 16.71% 21.56% 28.71%
Return on Assets (ROA)
19.21% 15.85% 11.46% 10.34% 16.61% 22.07% 0.27% 5.12% 12.48% 17.26% 22.60%
Return on Common Equity (ROCE)
31.26% 29.39% 22.87% 22.14% 39.88% 66.11% 1.09% 21.05% 68.26% 22,573.68% -173.92%
Return on Equity Simple (ROE_SIMPLE)
28.27% 29.01% 21.74% 20.79% 45.51% 82.00% 1.21% 18.86% 109.92% -156.30% -146.32%
Net Operating Profit after Tax (NOPAT)
2,490 2,658 2,287 2,415 4,416 4,364 -66 1,985 3,977 4,566 6,094
NOPAT Margin
29.49% 28.81% 21.29% 19.04% 30.40% 28.97% -0.97% 18.11% 23.27% 21.37% 25.67%
Net Nonoperating Expense Percent (NNEP)
-1.50% -2.47% -2.72% -0.95% -5.66% 10.88% 4.45% -29.86% -35.36% -113.53% 20.79%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - - 25.14% 37.93% 46.66%
Cost of Revenue to Revenue
10.16% 6.85% 3.86% 1.91% 14.06% 14.92% 28.61% 0.00% 14.42% 0.00% 0.00%
SG&A Expenses to Revenue
16.59% 18.38% 18.10% 6.03% 6.42% 7.18% 12.95% 29.64% 7.56% 25.76% 21.74%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
53.43% 57.82% 69.09% 62.31% 49.18% 49.60% 80.68% 77.22% 55.72% 72.69% 68.17%
Earnings before Interest and Taxes (EBIT)
3,064 3,233 2,826 4,496 5,104 6,224 923 1,799 4,095 5,358 7,473
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
3,248 3,580 3,212 4,938 5,589 6,923 1,565 2,398 4,702 6,023 8,224
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
6.93 7.48 7.33 7.49 9.04 14.42 18.55 15.87 27.85 0.00 0.00
Price to Tangible Book Value (P/TBV)
20.45 20.22 13.26 13.29 21.18 80.25 76.54 79.45 0.00 0.00 0.00
Price to Revenue (P/Rev)
7.04 7.13 6.70 6.65 5.47 5.68 13.36 8.95 4.53 5.74 6.93
Price to Earnings (P/E)
24.53 25.78 33.72 36.03 19.86 17.58 1,538.57 84.16 25.34 28.60 27.96
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.70%
Earnings Yield
4.08% 3.88% 2.97% 2.78% 5.03% 5.69% 0.07% 1.19% 3.95% 3.50% 3.58%
Enterprise Value to Invested Capital (EV/IC)
12.61 14.03 21.08 30.11 26.76 29.70 36.04 30.37 118.83 0.00 0.00
Enterprise Value to Revenue (EV/Rev)
6.54 6.65 6.08 5.96 5.05 5.47 13.00 8.67 4.41 5.82 6.94
Enterprise Value to EBITDA (EV/EBITDA)
17.00 17.14 20.32 15.31 13.13 11.90 56.44 39.61 16.02 20.64 20.04
Enterprise Value to EBIT (EV/EBIT)
18.02 18.98 23.10 16.81 14.37 13.24 95.70 52.80 18.40 23.21 22.06
Enterprise Value to NOPAT (EV/NOPAT)
22.18 23.08 28.54 31.30 16.61 18.88 0.00 47.86 18.94 27.23 27.05
Enterprise Value to Operating Cash Flow (EV/OCF)
20.90 19.15 16.38 16.21 13.74 16.93 1,039.22 33.69 11.49 16.93 19.80
Enterprise Value to Free Cash Flow (EV/FCFF)
349.44 23.02 18.31 25.19 17.53 19.02 343.26 72.63 11.64 19.79 19.06
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.45 0.70 0.72 0.85 0.98 1.45 2.53 1.83 4.69 -5.39 -4.25
Long-Term Debt to Equity
0.45 0.70 0.63 0.78 0.98 1.29 2.33 1.50 4.51 -4.67 -3.81
Financial Leverage
-0.58 -0.50 -0.60 -0.73 -0.74 -0.63 -0.52 -0.50 -0.58 -12.84 -0.30
Leverage Ratio
1.63 1.85 2.00 2.15 2.40 3.00 4.00 4.11 5.47 1,307.97 -7.70
Compound Leverage Factor
1.59 1.79 1.92 2.10 2.27 2.87 2.46 3.35 5.24 1,338.00 -7.51
Debt to Total Capital
31.07% 41.18% 42.02% 45.81% 49.61% 59.25% 71.67% 64.61% 82.41% 122.79% 130.78%
Short-Term Debt to Total Capital
0.30% 0.00% 5.70% 3.42% 0.00% 6.79% 5.70% 11.40% 3.16% 16.29% 13.36%
Long-Term Debt to Total Capital
30.77% 41.18% 36.33% 42.39% 49.61% 52.47% 65.97% 53.21% 79.25% 106.50% 117.42%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.17% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
68.93% 58.82% 57.81% 54.18% 50.39% 40.75% 28.33% 35.39% 17.59% -22.79% -30.78%
Debt to EBITDA
1.19 1.72 2.22 1.93 1.55 1.25 7.91 4.70 2.77 2.45 2.08
Net Debt to EBITDA
-1.29 -1.24 -2.10 -1.77 -1.08 -0.46 -1.56 -1.27 -0.46 0.28 0.05
Long-Term Debt to EBITDA
1.18 1.72 1.92 1.78 1.55 1.10 7.28 3.87 2.67 2.13 1.86
Debt to NOPAT
1.55 2.32 3.12 3.94 1.96 1.98 -188.55 5.68 3.28 3.24 2.80
Net Debt to NOPAT
-1.68 -1.66 -2.95 -3.62 -1.37 -0.72 37.19 -1.54 -0.54 0.36 0.06
Long-Term Debt to NOPAT
1.54 2.32 2.70 3.65 1.96 1.75 -173.55 4.68 3.15 2.81 2.52
Altman Z-Score
7.93 6.60 6.29 5.68 6.20 6.75 5.63 5.88 5.13 6.33 6.91
Noncontrolling Interest Sharing Ratio
0.06% 0.00% 0.15% 0.15% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
3.71 2.47 1.89 2.58 2.36 1.83 3.56 2.10 1.86 1.28 1.31
Quick Ratio
3.58 2.29 1.81 2.46 2.20 1.68 3.38 2.00 1.73 1.20 1.24
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
158 2,665 3,565 3,001 4,184 4,332 257 1,308 6,471 6,284 8,649
Operating Cash Flow to CapEx
2,008.79% 1,842.01% 1,810.91% 1,618.75% 1,207.69% 1,322.01% 29.72% 927.63% 1,780.98% 2,128.70% 1,940.09%
Free Cash Flow to Firm to Interest Expense
1.79 16.63 17.14 11.81 15.56 16.29 0.72 3.92 16.55 7.01 6.68
Operating Cash Flow to Interest Expense
29.90 19.99 19.15 18.35 19.84 18.29 0.24 8.44 16.76 8.19 6.43
Operating Cash Flow Less CapEx to Interest Expense
28.41 18.91 18.10 17.22 18.20 16.91 -0.56 7.53 15.82 7.80 6.10
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.67 0.57 0.58 0.56 0.60 0.68 0.31 0.48 0.70 0.86 0.91
Accounts Receivable Turnover
14.31 14.31 14.27 12.20 10.60 9.41 6.15 11.61 9.53 7.79 7.36
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
50.55 38.94 34.55 30.67 25.58 21.62 9.10 13.89 22.92 29.41 29.38
Accounts Payable Turnover
3.24 2.09 1.12 0.45 2.27 1.89 1.97 0.00 1.20 0.00 0.00
Days Sales Outstanding (DSO)
25.51 25.50 25.57 29.91 34.43 38.80 59.32 31.43 38.30 46.83 49.60
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
112.50 174.46 326.28 819.82 161.05 192.65 185.32 0.00 303.03 0.00 0.00
Cash Conversion Cycle (CCC)
-87.00 -148.95 -300.71 -789.92 -126.62 -153.85 -126.00 31.43 -264.73 46.83 49.60
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
4,381 4,374 3,096 2,510 2,742 2,774 2,451 3,128 634 -1,084 -3,639
Invested Capital Turnover
2.63 2.11 2.88 4.52 5.53 5.46 2.60 3.93 9.09 -94.96 -10.05
Increase / (Decrease) in Invested Capital
2,332 -6.68 -1,278 -586 232 32 -323 677 -2,494 -1,718 -2,555
Enterprise Value (EV)
55,222 61,348 65,268 75,587 73,370 82,385 88,334 94,994 75,336 124,334 164,819
Market Capitalization
59,408 65,769 71,992 84,338 79,413 85,544 90,776 98,044 77,484 122,674 164,438
Book Value per Share
$163.62 $169.68 $199.01 $230.90 $189.62 $141.75 $119.47 $150.45 $71.72 ($78.65) ($121.46)
Tangible Book Value per Share
$55.49 $62.75 $110.03 $130.12 $80.94 $25.47 $28.96 $30.05 ($47.80) ($205.88) ($247.79)
Total Capital
12,428 14,954 16,987 20,785 17,434 14,561 17,273 17,455 15,819 12,039 13,061
Total Debt
3,861 6,158 7,138 9,521 8,649 8,628 12,380 11,277 13,037 14,783 17,081
Total Long-Term Debt
3,824 6,158 6,171 8,810 8,649 7,640 11,395 9,288 12,537 12,822 15,336
Net Debt
-4,186 -4,421 -6,753 -8,754 -6,043 -3,159 -2,442 -3,050 -2,148 1,660 381
Capital Expenditures (CapEx)
132 174 220 288 442 368 286 304 368 345 429
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-520 -535 -789 -1,154 -1,432 -1,855 -1,297 -2,264 -4,572 -7,018 -9,575
Debt-free Net Working Capital (DFNWC)
3,772 2,114 3,511 6,248 4,852 5,455 9,766 8,888 7,824 5,665 6,589
Net Working Capital (NWC)
3,735 2,114 2,543 5,537 4,852 4,467 8,781 6,899 7,324 3,704 4,844
Net Nonoperating Expense (NNE)
68 107 152 74 418 -501 -125 820 919 277 212
Net Nonoperating Obligations (NNO)
-4,186 -4,421 -6,753 -8,754 -6,043 -3,159 -2,442 -3,050 -2,148 1,660 381
Total Depreciation and Amortization (D&A)
184 347 386 442 485 699 642 599 607 665 751
Debt-free, Cash-free Net Working Capital to Revenue
-6.16% -5.80% -7.35% -9.10% -9.86% -12.31% -19.08% -20.66% -26.75% -32.85% -40.33%
Debt-free Net Working Capital to Revenue
44.68% 22.92% 32.68% 49.27% 33.40% 36.21% 143.70% 81.11% 45.78% 26.52% 27.76%
Net Working Capital to Revenue
44.24% 22.92% 23.67% 43.66% 33.40% 29.65% 129.21% 62.96% 42.86% 17.34% 20.41%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$46.30 $50.09 $43.14 $47.78 $84.26 $112.93 $1.45 $28.39 $76.70 $118.67 $174.96
Adjusted Weighted Average Basic Shares Outstanding
52.30M 50.94M 49.49M 48.99M 47.45M 43.08M 40.97M 41.04M 39.87M 36.14M 33.62M
Adjusted Diluted Earnings per Share
$45.67 $49.45 $42.65 $46.86 $83.26 $111.82 $1.44 $28.17 $76.35 $117.40 $172.69
Adjusted Weighted Average Diluted Shares Outstanding
53.02M 51.59M 50.06M 49.95M 48.02M 43.51M 41.16M 41.36M 40.05M 36.53M 34.06M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
51.94M 49.62M 49.17M 48.29M 45.01M 41.06M 40.96M 40.89M 37.65M 34.17M 32.82M
Normalized Net Operating Profit after Tax (NOPAT)
2,490 2,658 3,027 2,415 4,416 4,364 406 1,985 3,977 4,566 6,094
Normalized NOPAT Margin
29.49% 28.81% 28.18% 19.04% 30.40% 28.97% 5.97% 18.11% 23.27% 21.37% 25.67%
Pre Tax Income Margin
35.41% 33.92% 25.25% 34.69% 33.28% 39.55% 8.34% 13.37% 22.95% 25.65% 30.72%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
34.68 20.18 13.59 17.70 18.97 23.40 2.59 5.39 10.47 5.97 5.77
NOPAT to Interest Expense
28.18 16.59 10.99 9.51 16.42 16.41 -0.18 5.94 10.17 5.09 4.71
EBIT Less CapEx to Interest Expense
33.19 19.09 12.53 16.57 17.33 22.02 1.79 4.48 9.53 5.59 5.44
NOPAT Less CapEx to Interest Expense
26.69 15.50 9.94 8.37 14.77 15.02 -0.99 5.03 9.23 4.71 4.37
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19.96%
Augmented Payout Ratio
30.98% 121.07% 47.40% 78.09% 149.35% 168.28% 2,208.47% 13.99% 216.51% 241.94% 130.62%

Quarterly Metrics And Ratios for Booking

This table displays calculated financial ratios and metrics derived from Booking's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
35.83% 40.19% 27.20% 21.30% 18.15% 16.86% 7.27% 8.90% 14.36% 7.86% 16.03%
EBITDA Growth
49.32% 168.15% 28.05% 35.49% -63.85% 153.49% 18.31% -7.49% 263.20% 26.61% -22.23%
EBIT Growth
54.66% 134.44% 30.57% 36.70% -72.28% 239.41% 18.83% -8.57% 376.44% -11.94% -31.96%
NOPAT Growth
78.13% 224.34% 78.05% 25.12% -71.25% 65.82% 10.12% 12.72% 258.92% 36.32% 24.19%
Net Income Growth
99.84% 138.00% 50.53% 50.72% -82.02% 191.73% 17.91% 0.24% 381.08% -57.09% -41.16%
EPS Growth
102.80% 140.94% 65.59% 66.27% -81.22% 219.57% 27.20% 6.50% 453.42% -54.98% -38.19%
Operating Cash Flow Growth
678.85% 70.44% -35.28% 68,500.00% -38.06% -6.40% 45.37% 72.96% -46.43% 21.41% 26.77%
Free Cash Flow Firm Growth
10,564.61% 584.55% 27.66% 154.86% -43.73% -42.76% 28.86% 19.57% 82.50% 69.46% 13.66%
Invested Capital Growth
-79.73% -189.95% -315.33% -147.82% -270.98% -93.49% -112.04% -395.83% -235.70% -89.04% -55.92%
Revenue Q/Q Growth
-33.10% -6.69% 44.57% 34.40% -34.83% -7.71% 32.71% 36.44% -31.56% -12.96% 42.76%
EBITDA Q/Q Growth
-36.40% -75.57% 307.67% 87.28% -83.03% -15.37% 90.28% 46.43% -33.39% -31.78% 16.88%
EBIT Q/Q Growth
-39.51% -83.16% 492.19% 95.48% -87.73% -17.97% 107.34% 50.40% -36.07% -55.82% 60.20%
NOPAT Q/Q Growth
-42.15% -65.47% 237.64% 85.50% -86.71% 99.15% 124.21% 89.88% -57.67% -24.36% 104.25%
Net Income Q/Q Growth
-25.87% -78.46% 384.96% 94.65% -91.16% 249.55% 96.01% 65.48% -57.57% -68.82% 168.77%
EPS Q/Q Growth
-27.58% -76.97% 398.43% 100.06% -91.82% 291.77% 98.39% 67.51% -57.49% -68.13% 172.39%
Operating Cash Flow Q/Q Growth
108,550.00% 32.95% -39.88% -21.01% -1.90% 100.89% -6.62% -6.02% -69.62% 355.34% -2.50%
Free Cash Flow Firm Q/Q Growth
107.22% 1.76% -27.85% 67.52% -54.25% 3.52% 62.42% 55.44% -30.17% -3.87% 8.94%
Invested Capital Q/Q Growth
-53.14% -347.00% -12.45% 63.26% -67.54% -179.52% -23.23% 14.09% -13.44% -57.41% -1.64%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
53.84% 80.89% 86.23% 100.00% 130.81% 81.29% 86.23% 100.00% 129.85% 100.00% 100.00%
EBITDA Margin
38.06% 11.38% 32.09% 44.72% 11.64% 24.69% 35.40% 37.99% 36.98% 28.98% 23.73%
Operating Margin
33.22% 11.91% 30.63% 42.27% 12.73% 17.92% 31.68% 39.77% 31.60% 22.30% 33.10%
EBIT Margin
34.03% 7.12% 29.17% 42.42% 7.98% 20.68% 32.31% 35.61% 33.27% 16.88% 18.95%
Profit (Net Income) Margin
30.50% 7.04% 23.62% 34.21% 4.64% 17.58% 25.96% 31.49% 19.52% 6.99% 13.17%
Tax Burden Percent
85.06% 87.79% 79.73% 79.74% 54.01% 82.82% 79.14% 87.73% 68.29% 84.09% 81.07%
Interest Burden Percent
105.37% 112.64% 101.57% 101.12% 107.59% 102.63% 101.53% 100.77% 85.93% 49.25% 85.71%
Effective Tax Rate
14.94% 12.21% 20.27% 20.26% 45.99% 17.18% 20.86% 12.27% 31.71% 15.91% 18.93%
Return on Invested Capital (ROIC)
256.70% 2,171.74% 0.00% 1,969.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
253.20% 2,176.64% 0.00% 1,966.68% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)
-146.89% -2,106.71% 0.00% -1,510.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)
109.81% 65.03% 267.13% 459.12% 22,573.68% -322.30% -203.60% -235.44% -173.92% -107.02% -88.05%
Cash Return on Invested Capital (CROIC)
344.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)
23.74% 5.44% 22.10% 36.69% 6.86% 17.19% 26.27% 30.63% 30.34% 14.81% 16.01%
Return on Assets (ROA)
21.28% 5.38% 17.90% 29.59% 3.99% 14.61% 21.11% 27.08% 17.81% 6.13% 11.13%
Return on Common Equity (ROCE)
109.81% 65.03% 267.13% 459.12% 22,573.68% -322.30% -203.60% -235.44% -173.92% -107.02% -88.05%
Return on Equity Simple (ROE_SIMPLE)
0.00% 374.67% -670.23% -848.32% 0.00% -118.44% -117.63% -137.86% 0.00% -88.99% 0.00%
Net Operating Profit after Tax (NOPAT)
1,144 395 1,334 2,474 329 655 1,469 2,789 1,181 893 1,824
NOPAT Margin
28.25% 10.46% 24.42% 33.71% 6.88% 14.84% 25.07% 34.89% 21.58% 18.75% 26.83%
Net Nonoperating Expense Percent (NNEP)
3.50% -4.90% -1.59% 3.14% -43.83% 14.95% 18.86% 128.59% 11.04% 79.67% 134.94%
Return On Investment Capital (ROIC_SIMPLE)
7.23% - - - 2.73% - - - 9.04% 8.60% 14.79%
Cost of Revenue to Revenue
46.16% 19.11% 13.77% 0.00% -30.81% 18.71% 13.77% 0.00% -29.85% 0.00% 0.00%
SG&A Expenses to Revenue
-24.85% 10.56% 7.29% 17.44% 71.63% 8.45% 5.04% 20.48% 52.20% 21.73% 19.33%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
20.62% 68.98% 55.60% 57.73% 118.08% 63.37% 54.55% 60.23% 98.25% 77.70% 66.90%
Earnings before Interest and Taxes (EBIT)
1,378 269 1,593 3,114 382 913 1,893 2,847 1,820 804 1,288
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,541 430 1,753 3,283 557 1,090 2,074 3,037 2,023 1,380 1,613
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
27.85 92.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
4.53 5.47 5.13 5.30 5.74 5.74 6.00 6.13 6.93 6.28 7.53
Price to Earnings (P/E)
25.34 24.70 22.27 20.61 28.60 26.32 26.72 28.04 27.96 27.79 39.14
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.24% 0.44% 0.62% 0.70% 0.78% 0.63%
Earnings Yield
3.95% 4.05% 4.49% 4.85% 3.50% 3.80% 3.74% 3.57% 3.58% 3.60% 2.55%
Enterprise Value to Invested Capital (EV/IC)
118.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)
4.41 5.32 5.07 5.30 5.82 5.79 6.02 6.15 6.94 6.29 7.56
Enterprise Value to EBITDA (EV/EBITDA)
16.02 16.17 15.42 15.12 20.64 16.53 16.82 18.21 20.04 17.80 23.50
Enterprise Value to EBIT (EV/EBIT)
18.40 18.03 17.11 16.62 23.21 18.13 18.43 20.08 22.06 20.58 28.00
Enterprise Value to NOPAT (EV/NOPAT)
18.94 22.69 20.20 20.45 27.23 26.27 27.08 26.83 27.05 24.04 28.38
Enterprise Value to Operating Cash Flow (EV/OCF)
11.49 12.49 14.43 13.37 16.93 17.78 16.98 15.83 19.80 17.03 19.76
Enterprise Value to Free Cash Flow (EV/FCFF)
11.64 12.78 15.84 14.88 19.79 20.17 19.40 18.07 19.06 16.83 21.61
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
4.69 11.79 -21.93 -22.91 -5.39 -4.31 -4.05 -4.58 -4.25 -2.70 -2.85
Long-Term Debt to Equity
4.51 11.00 -20.65 -19.84 -4.67 -3.45 -3.25 -3.91 -3.81 -2.59 -2.70
Financial Leverage
-0.58 -0.97 -1.65 -0.77 -12.84 0.54 0.11 -0.10 -0.30 -0.14 -0.13
Leverage Ratio
5.47 8.74 15.30 15.66 1,307.97 -17.78 -11.15 -12.53 -7.70 -5.40 -5.42
Compound Leverage Factor
5.76 9.84 15.54 15.84 1,407.27 -18.24 -11.32 -12.63 -6.61 -2.66 -4.64
Debt to Total Capital
82.41% 92.18% 104.78% 104.57% 122.79% 130.23% 132.74% 127.96% 130.78% 158.84% 153.98%
Short-Term Debt to Total Capital
3.16% 6.22% 6.14% 13.97% 16.29% 25.83% 26.39% 18.51% 13.36% 6.31% 8.10%
Long-Term Debt to Total Capital
79.25% 85.97% 98.64% 90.59% 106.50% 104.40% 106.35% 109.44% 117.42% 152.53% 145.88%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
17.59% 7.82% -4.78% -4.57% -22.79% -30.23% -32.74% -27.96% -30.78% -58.84% -53.98%
Debt to EBITDA
2.77 2.12 2.29 1.98 2.45 2.27 2.16 2.15 2.08 1.94 2.36
Net Debt to EBITDA
-0.46 -0.44 -0.17 0.00 0.28 0.13 0.07 0.06 0.05 0.05 0.10
Long-Term Debt to EBITDA
2.67 1.97 2.16 1.72 2.13 1.82 1.73 1.84 1.86 1.86 2.23
Debt to NOPAT
3.28 2.97 3.00 2.68 3.24 3.60 3.48 3.17 2.80 2.62 2.85
Net Debt to NOPAT
-0.54 -0.62 -0.23 0.00 0.36 0.21 0.11 0.08 0.06 0.06 0.13
Long-Term Debt to NOPAT
3.15 2.77 2.83 2.32 2.81 2.89 2.79 2.71 2.52 2.51 2.70
Altman Z-Score
4.78 5.08 4.96 5.69 5.66 5.08 5.24 5.79 6.24 5.75 5.86
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.86 1.59 1.55 1.44 1.28 1.22 1.17 1.23 1.31 1.22 1.25
Quick Ratio
1.73 1.49 1.45 1.35 1.20 1.15 1.11 1.16 1.24 1.15 1.18
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
3,638 3,702 2,671 4,474 2,047 2,119 3,442 5,350 3,736 3,591 3,912
Operating Cash Flow to CapEx
2,897.33% 3,282.95% 1,888.04% 1,932.39% 1,431.91% 2,080.00% 1,729.45% 3,081.82% 948.68% 2,713.22% 5,001.56%
Free Cash Flow to Firm to Interest Expense
25.09 19.08 11.08 17.62 9.84 9.68 13.04 17.54 7.37 5.53 9.36
Operating Cash Flow to Interest Expense
14.99 14.89 7.21 5.40 6.47 12.35 9.56 7.78 1.42 5.06 7.66
Operating Cash Flow Less CapEx to Interest Expense
14.47 14.44 6.83 5.12 6.02 11.75 9.01 7.53 1.27 4.87 7.50
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.70 0.76 0.76 0.87 0.86 0.83 0.81 0.86 0.91 0.88 0.85
Accounts Receivable Turnover
9.53 9.93 7.65 7.20 7.79 8.23 6.77 6.50 7.36 7.31 6.12
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
22.92 23.56 24.33 25.60 29.41 29.26 27.88 28.55 29.38 28.98 29.05
Accounts Payable Turnover
1.20 1.43 1.53 1.30 0.00 0.04 0.05 0.04 0.00 0.00 0.00
Days Sales Outstanding (DSO)
38.30 36.75 47.69 50.70 46.83 44.33 53.93 56.18 49.60 49.90 59.68
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
303.03 256.11 238.18 281.20 0.00 9,475.96 6,945.33 8,132.15 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
-264.73 -219.36 -190.49 -230.50 46.83 -9,431.63 -6,891.40 -8,075.98 49.60 49.90 59.68
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
634 -1,566 -1,761 -647 -1,084 -3,030 -3,734 -3,208 -3,639 -5,728 -5,822
Invested Capital Turnover
9.09 207.69 -17.70 58.44 -94.96 -9.57 -8.15 -11.96 -10.05 -5.50 -5.24
Increase / (Decrease) in Invested Capital
-2,494 -3,307 -1,337 -2,000 -1,718 -1,464 -1,973 -2,561 -2,555 -2,698 -2,088
Enterprise Value (EV)
75,336 96,735 98,154 109,264 124,334 127,308 134,946 141,654 164,819 151,561 189,219
Market Capitalization
77,484 99,375 99,250 109,286 122,674 126,286 134,404 141,209 164,438 151,177 188,384
Book Value per Share
$71.72 $28.53 ($18.01) ($17.51) ($78.65) ($118.46) ($126.03) ($108.97) ($121.46) ($186.26) ($204.58)
Tangible Book Value per Share
($47.80) ($93.47) ($141.01) ($142.58) ($205.88) ($246.16) ($253.13) ($236.87) ($247.79) ($312.69) ($331.99)
Total Capital
15,819 13,739 13,921 13,691 12,039 13,404 13,061 13,067 13,061 10,388 12,332
Total Debt
13,037 12,665 14,586 14,316 14,783 17,456 17,337 16,720 17,081 16,500 18,989
Total Long-Term Debt
12,537 11,811 13,731 12,403 12,822 13,994 13,890 14,301 15,336 15,845 17,990
Net Debt
-2,148 -2,640 -1,096 -22 1,660 1,022 542 445 381 384 835
Capital Expenditures (CapEx)
75 88 92 71 94 130 146 77 76 121 64
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-4,572 -7,083 -7,519 -6,358 -7,018 -8,885 -9,793 -9,505 -9,575 -11,367 -11,969
Debt-free Net Working Capital (DFNWC)
7,824 7,416 7,723 7,560 5,665 7,106 6,534 6,270 6,589 4,211 5,626
Net Working Capital (NWC)
7,324 6,562 6,868 5,647 3,704 3,644 3,087 3,851 4,844 3,556 4,627
Net Nonoperating Expense (NNE)
-91 129 44 -37 107 -121 -52 272 113 560 929
Net Nonoperating Obligations (NNO)
-2,148 -2,640 -1,096 -22 1,660 1,022 542 445 381 384 835
Total Depreciation and Amortization (D&A)
163 161 160 169 175 177 181 190 203 576 325
Debt-free, Cash-free Net Working Capital to Revenue
-26.75% -38.98% -38.88% -30.82% -32.85% -40.38% -43.72% -41.23% -40.33% -47.19% -47.83%
Debt-free Net Working Capital to Revenue
45.78% 40.81% 39.93% 36.65% 26.52% 32.30% 29.17% 27.20% 27.76% 17.48% 22.48%
Net Working Capital to Revenue
42.86% 36.11% 35.51% 27.37% 17.34% 16.56% 13.78% 16.71% 20.41% 14.76% 18.49%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$30.55 $7.07 $35.16 $70.62 $5.82 $22.69 $44.94 $75.37 $31.96 $10.14 $27.54
Adjusted Weighted Average Basic Shares Outstanding
39.87M 37.62M 36.68M 35.57M 36.14M 34.21M 33.84M 33.40M 33.62M 32.85M 32.49M
Adjusted Diluted Earnings per Share
$30.40 $7.00 $34.89 $69.80 $5.71 $22.37 $44.38 $74.34 $31.60 $10.07 $27.43
Adjusted Weighted Average Diluted Shares Outstanding
40.05M 37.98M 36.96M 35.99M 36.53M 34.71M 34.27M 33.86M 34.06M 33.09M 32.62M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
37.65M 36.93M 35.69M 34.89M 34.17M 33.93M 33.52M 33.10M 32.82M 32.54M 32.41M
Normalized Net Operating Profit after Tax (NOPAT)
1,144 395 1,334 2,474 329 655 1,469 2,789 1,181 893 1,824
Normalized NOPAT Margin
28.25% 10.46% 24.42% 33.71% 6.88% 14.84% 25.07% 34.89% 21.58% 18.75% 26.83%
Pre Tax Income Margin
35.86% 8.02% 29.62% 42.90% 8.59% 21.22% 32.80% 35.89% 28.59% 8.32% 16.24%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
9.50 1.39 6.61 12.26 1.84 4.17 7.17 9.33 3.59 1.24 3.08
NOPAT to Interest Expense
7.89 2.04 5.53 9.74 1.58 2.99 5.56 9.14 2.33 1.38 4.36
EBIT Less CapEx to Interest Expense
8.99 0.93 6.23 11.98 1.38 3.58 6.62 9.08 3.44 1.05 2.93
NOPAT Less CapEx to Interest Expense
7.37 1.58 5.15 9.46 1.13 2.40 5.01 8.89 2.18 1.19 4.21
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19.96% 21.95% 25.16%
Augmented Payout Ratio
216.51% 191.90% 214.99% 192.98% 241.94% 210.11% 171.89% 154.29% 130.62% 147.40% 163.52%

Key Financial Trends

Booking Holdings Inc. (NASDAQ: BKNG) has demonstrated solid financial performance and growth over the last four years, with some fluctuations due to market conditions. Below are the key takeaways from the analysis of the last 17 quarters of financial statements including income statements, cash flow statements, and balance sheets.

  • Revenue Growth: Operating revenue increased substantially from $3.78 billion in Q1 2023 to $6.80 billion in Q2 2025, illustrating robust growth in the company’s core business.
  • Net Income Increase: Net income attributable to common shareholders rose from $266 million in Q1 2023 to $895 million in Q2 2025, showing improving profitability.
  • Cash & Equivalents Expansion: Cash and equivalents increased from $14.1 billion in Q1 2023 to $17.6 billion in Q2 2025, strengthening liquidity position.
  • Strong Operating Cash Flow: Net cash from operating activities surged to $3.2 billion in Q2 2025 from $2.7 billion in Q1 2023, indicating healthy cash generation capability.
  • Effective Capital Investments: Consistent capital expenditures with purchases of property, plant, and equipment around $60-$150 million per quarter show focused reinvestment in assets to support growth.
  • Fluctuations in Marketing and SG&A Expenses: Marketing expenses have risen over time (e.g., from about $1.5 billion in early 2023 to over $2.1 billion in Q2 2025), indicating aggressive marketing spends, potentially to capture market share. SG&A expenses remained significant but stable relative to revenue.
  • Interest Expense Higher than Interest Income: Interest expenses consistently exceed interest income, though both amounts fluctuate. For example, Q2 2025 interest expense was $418 million against $234 million interest income.
  • Negative Equity Position: Total common equity has been negative since as far back as Q3 2023, declining from -$625 million to -$6.7 billion by Q2 2025, largely due to significant treasury stock balances. This may concern investors about balance sheet leverage.
  • Increasing Total Liabilities: Liabilities have grown from approximately $24 billion in early 2023 to over $37 billion in Q2 2025, driven by increased long-term debt ($11.2 billion to $17.5 billion) and current liabilities, reflecting higher leverage.
  • Heavy Share Repurchases and Debt Repayments: The company has repurchased large amounts of common equity and repaid debts aggressively ($1.5 billion repurchase in Q2 2025 and ~$1.9 billion debt repayment) which may strain cash flows if not balanced by operating efficiency gains.

Summary: Booking Holdings shows strong revenue and cash flow growth, with increasing net income demonstrating operational strength. However, the negative common equity and rising liabilities highlight balance sheet risks related to leverage and aggressive capital return strategies. Retail investors should weigh the company’s growth against these financial risks in their investment decisions.

08/09/25 12:03 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Booking's Financials

When does Booking's financial year end?

According to the most recent income statement we have on file, Booking's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Booking's net income changed over the last 10 years?

Booking's net income appears to be on an upward trend, with a most recent value of $5.88 billion in 2024, rising from $2.42 billion in 2014. The previous period was $4.29 billion in 2023. See where experts think Booking is headed by visiting Booking's forecast page.

What is Booking's operating income?
Booking's total operating income in 2024 was $7.56 billion, based on the following breakdown:
  • Total Gross Profit: $23.74 billion
  • Total Operating Expenses: $16.18 billion
How has Booking's revenue changed over the last 10 years?

Over the last 10 years, Booking's total revenue changed from $8.44 billion in 2014 to $23.74 billion in 2024, a change of 181.2%.

How much debt does Booking have?

Booking's total liabilities were at $31.73 billion at the end of 2024, a 17.1% increase from 2023, and a 411.4% increase since 2014.

How much cash does Booking have?

In the past 10 years, Booking's cash and equivalents has ranged from $1.48 billion in 2015 to $16.16 billion in 2024, and is currently $16.16 billion as of their latest financial filing in 2024.

How has Booking's book value per share changed over the last 10 years?

Over the last 10 years, Booking's book value per share changed from 163.62 in 2014 to -121.46 in 2024, a change of -174.2%.



This page (NASDAQ:BKNG) was last updated on 8/9/2025 by MarketBeat.com Staff
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