Booking (BKNG) Financials

$171.22 +2.90 (+1.72%)

Closing price 03:59 PM Eastern

Extended Trading

$171.13 -0.09 (-0.05%)

As of 04:02 PM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	2,551	2,135	2,341	3,998	4,865	59	1,165	3,058	4,289	5,882	5,404
Consolidated Net Income / (Loss)	2,551	2,135	2,341	3,998	4,865	59	1,165	3,058	4,289	5,882	5,404
Net Income / (Loss) Continuing Operations	2,551	2,135	2,341	3,998	4,865	59	1,165	3,058	4,289	5,882	5,404
Total Pre-Tax Income	3,128	2,713	4,399	4,835	5,958	567	1,465	3,923	5,481	7,292	6,832
Total Operating Income	3,259	2,906	4,538	5,341	5,345	-631	2,496	5,102	5,835	7,555	8,825
Total Gross Profit	8,592	10,328	12,439	12,485	12,818	4,852	10,958	14,625	21,365	23,739	23,514
Total Revenue	9,224	10,743	12,681	14,527	15,066	6,796	10,958	17,090	21,365	23,739	26,917
Operating Revenue	8,611	10,743	12,681	14,527	15,066	6,796	10,958	17,090	21,365	23,739	26,917
Total Cost of Revenue	632	415	242	2,042	2,248	1,944	0.00	2,465	0.00	0.00	3,403
Operating Cost of Revenue	632	415	242	2,042	2,248	1,944	-	2,465	-	-	3,403
Total Operating Expenses	5,333	7,422	7,901	7,144	7,473	5,483	8,462	9,523	15,530	16,184	14,689
Selling, General & Admin Expense	1,695	1,944	765	932	1,082	880	3,248	1,292	5,509	5,161	1,765
Marketing Expense	3,365	3,806	435	4,956	4,967	2,179	3,801	5,993	6,773	7,278	8,186
Depreciation Expense	272	309	363	426	469	458	421	451	504	591	623
Other Operating Expenses / (Income)	-	422	6,338	830	955	755	979	1,787	2,744	3,120	3,658
Impairment Charge	0.00	941	-	0.00	0.00	1,062	-	-	-	-	457
Total Other Income / (Expense), net	-131	-193	-139	-506	613	1,198	-1,031	-1,179	-354	-263	-1,993
Interest Expense	160	208	254	269	266	356	334	391	897	1,295	1,617
Interest & Investment Income	56	95	157	-	-	-	-	219	1,020	1,114	921
Other Income / (Expense), net	-26	-80	-42	-237	879	1,554	-697	-1,007	-477	-82	-1,297
Income Tax Expense	577	578	2,058	837	1,093	508	300	865	1,192	1,410	1,428
Basic Earnings per Share	$50.09	$43.14	$47.78	$84.26	$112.93	$1.45	$28.39	$76.70	$118.67	$174.96	$166.52
Weighted Average Basic Shares Outstanding	50.94M	49.49M	48.99M	47.45M	43.08M	40.97M	41.04M	39.87M	36.14M	33.62M	32.45M
Diluted Earnings per Share	$49.45	$42.65	$46.86	$83.26	$111.82	$1.44	$28.17	$76.35	$117.40	$172.69	$165.57
Weighted Average Diluted Shares Outstanding	51.59M	50.06M	49.95M	48.02M	43.51M	41.16M	41.36M	40.05M	36.53M	34.06M	32.64M
Weighted Average Basic & Diluted Shares Outstanding	50.90M	49.50M	49M	45.01M	41.06M	40.96M	40.89M	37.65M	34.17M	32.82M	31.67M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	$8.75	$9.60

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	2,511	222	776	1,521	2,517	1,068	333	895	2,748	1,428	1,083
Consolidated Net Income / (Loss)	2,511	222	776	1,521	2,517	1,068	333	895	2,748	1,428	1,083
Net Income / (Loss) Continuing Operations	2,511	222	776	1,521	2,517	1,068	333	895	2,748	1,428	1,083
Total Pre-Tax Income	3,149	411	937	1,922	2,869	1,564	396	1,104	3,469	1,863	1,399
Total Operating Income	3,103	609	791	1,856	3,179	1,729	1,062	2,250	3,483	2,030	1,271
Total Gross Profit	7,341	6,258	4,415	5,859	7,994	7,104	4,762	6,798	8,063	3,891	5,532
Total Revenue	7,341	4,784	4,415	5,859	7,994	5,471	4,762	6,798	9,008	6,349	5,532
Operating Revenue	7,341	4,784	4,415	5,859	7,994	5,471	4,762	6,798	9,008	6,349	5,532
Total Cost of Revenue	0.00	-1,474	0.00	0.00	0.00	-1,633	0.00	0.00	945	2,458	0.00
Total Operating Expenses	4,238	5,649	3,624	4,003	4,815	5,375	3,700	4,548	4,580	1,861	4,261
Selling, General & Admin Expense	1,280	3,427	1,199	1,102	1,637	2,856	1,035	1,314	496	-1,080	1,233
Marketing Expense	2,022	1,433	1,610	1,939	2,151	1,578	1,777	2,139	2,340	1,930	2,068
Depreciation Expense	129	134	137	142	155	157	154	158	160	151	131
Other Operating Expenses / (Income)	807	650	678	820	872	750	702	899	1,127	930	804
Total Other Income / (Expense), net	46	-198	146	66	-310	-165	-666	-1,146	-14	-167	128
Interest Expense	254	208	219	264	305	507	649	418	301	249	253
Interest & Investment Income	289	237	243	293	327	251	241	234	248	198	187
Other Income / (Expense), net	11	-227	122	37	-332	91	-258	-962	39	-116	194
Income Tax Expense	638	189	161	401	352	496	63	209	721	435	316
Basic Earnings per Share	$70.62	$5.82	$22.69	$44.94	$75.37	$31.96	$0.41	$27.54	$84.86	$43.98	$1.37
Weighted Average Basic Shares Outstanding	35.57M	36.14M	34.21M	33.84M	33.40M	33.62M	821M	32.49M	32.38M	32.45M	790M
Diluted Earnings per Share	$69.80	$5.71	$22.37	$44.38	$74.34	$31.60	$0.40	$27.43	$84.41	$43.66	$1.36
Weighted Average Diluted Shares Outstanding	35.99M	36.53M	34.71M	34.27M	33.86M	34.06M	827M	32.62M	32.56M	32.64M	794M
Weighted Average Basic & Diluted Shares Outstanding	34.89M	34.17M	33.93M	33.52M	33.10M	32.82M	32.54M	32.41M	32.23M	31.67M	774.88M
Cash Dividends to Common per Share	-	-	$8.75	-	-	-	-	-	-	-	$0.42

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	-1,671	604	381	82	3,687	4,250	570	1,099	-116	4,058	1,076
Net Cash From Operating Activities	3,204	3,984	4,662	5,338	4,865	85	2,820	6,554	7,344	8,323	9,409
Net Cash From Continuing Operating Activities	3,204	3,984	4,662	5,338	4,865	85	2,820	6,554	7,344	8,323	9,409
Net Income / (Loss) Continuing Operations	2,551	2,135	2,341	3,998	4,865	59	1,165	3,058	4,289	5,882	5,404
Consolidated Net Income / (Loss)	2,551	2,135	2,341	3,998	4,865	59	1,165	3,058	4,289	5,882	5,404
Depreciation Expense	102	140	363	426	469	458	421	451	504	591	623
Amortization Expense	245	246	79	59	230	184	178	156	161	956	505
Non-Cash Adjustments To Reconcile Net Income	375	1,361	333	880	-280	191	1,232	1,351	1,159	429	2,858
Changes in Operating Assets and Liabilities, net	-70	102	1,546	-25	-419	-807	-176	1,538	1,231	465	19
Net Cash From Investing Activities	-3,895	-3,333	-4,202	2,215	7,050	2,637	-998	-518	1,486	129	-313
Net Cash From Continuing Investing Activities	-3,895	-3,333	-4,202	2,215	7,050	2,637	-998	-518	1,486	129	-313
Purchase of Property, Plant & Equipment	-174	-220	-288	-442	-368	-286	-304	-368	-345	-429	-322
Purchase of Investments	-9,118	-6,748	-6,941	-2,686	-672	-74	-17	-768	-12	-33	0.00
Sale and/or Maturity of Investments	5,538	3,684	3,580	5,616	8,099	2,997	508	32	1,840	590	0.00
Other Investing Activities, net	-	-	-	-	-	0.00	0.00	586	3.00	1.00	9.00
Net Cash From Financing Activities	-831	-1.00	-79	-7,431	-8,220	1,528	-1,239	-4,897	-8,909	-4,204	-8,915
Net Cash From Continuing Financing Activities	-831	-1.00	-79	-7,431	-8,220	1,528	-1,239	-4,897	-8,909	-4,204	-8,915
Repayment of Debt	-387	0.00	-296	-1,487	-433	-1,277	-3,096	-1,904	-559	-1,371	-4,923
Repurchase of Common Equity	-3,089	-1,012	-1,828	-5,971	-8,187	-1,303	-163	-6,621	-10,377	-6,509	-6,440
Payment of Dividends	-	-	-	-	-	-	-	0.00	0.00	-1,174	-1,248
Issuance of Debt	2,624	995	2,045	27	400	4,108	2,015	3,621	1,893	4,836	3,681
Other Financing Activities, net	21	16	-	-	-	-	5.00	7.00	134	14	15
Effect of Exchange Rate Changes	-	-46	-	-40	-8.00	-	-13	-40	-37	-190	895

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1,304	-1,191	3,529	665	-521	385	-580	2,024	-1,110	742	-1,086
Net Cash From Operating Activities	1,372	1,346	2,704	2,525	2,373	721	3,283	3,201	1,435	1,490	3,215
Net Cash From Continuing Operating Activities	1,372	1,346	2,704	2,525	2,373	721	3,283	3,201	1,435	1,490	3,215
Net Income / (Loss) Continuing Operations	2,511	222	776	1,521	2,517	1,068	333	895	2,748	1,428	1,083
Consolidated Net Income / (Loss)	2,511	222	776	1,521	2,517	1,068	333	895	2,748	1,428	1,083
Depreciation Expense	129	134	137	142	155	157	154	158	160	151	131
Amortization Expense	40	41	40	39	35	46	264	167	-124	40	32
Non-Cash Adjustments To Reconcile Net Income	168	414	82	164	559	420	625	1,204	834	353	33
Changes in Operating Assets and Liabilities, net	-1,476	535	1,669	659	-893	-970	1,907	777	-2,183	-482	1,936
Net Cash From Investing Activities	-22	-39	69	137	-2.00	-75	-118	-61	-63	-71	-107
Net Cash From Continuing Investing Activities	-22	-39	69	137	-2.00	-75	-118	-61	-63	-71	-107
Purchase of Property, Plant & Equipment	-71	-94	-130	-146	-77	-76	-121	-64	-64	-73	-107
Other Investing Activities, net	1.00	12	-19	-14	-	34	3.00	3.00	1.00	2.00	0.00
Net Cash From Financing Activities	-2,632	-2,490	784	-1,966	-3,165	143	-3,967	-1,797	-2,484	-667	-4,026
Net Cash From Continuing Financing Activities	-2,632	-2,490	784	-1,966	-3,165	143	-3,967	-1,797	-2,484	-667	-4,026
Repayment of Debt	-5.00	-14	-20	-12	-1,112	-221	-1,478	-1,942	-1,521	18	87
Repurchase of Common Equity	-2,640	-2,488	-1,856	-1,662	-1,764	-1,227	-2,170	-1,498	-653	-2,119	-3,770
Payment of Dividends	-	-	-299	-295	-291	-289	-319	-312	-310	-307	-343
Effect of Exchange Rate Changes	-22	-8.00	-28	-31	273	-404	222	681	2.00	-10	-168

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	17,421	19,839	25,451	22,687	21,402	21,874	23,641	25,361	24,342	27,708	29,264
Total Current Assets	3,553	5,402	9,035	8,407	9,833	12,206	13,145	15,798	17,034	20,491	22,264
Cash & Equivalents	1,477	2,081	2,542	2,624	6,312	10,562	11,127	12,221	12,107	16,164	17,203
Accounts Receivable	645	860	1,218	1,523	1,680	529	1,358	2,229	3,253	3,199	3,820
Prepaid Expenses	260	241	415	600	479	337	404	477	644	587	611
Other Current Assets	-	-	-	-	364	277	231	696	454	541	630
Plant, Property, & Equipment, net	275	347	480	656	738	756	822	669	784	832	807
Total Noncurrent Assets	13,593	14,090	15,936	13,624	10,831	8,912	9,674	8,894	6,524	6,385	6,193
Long-Term Investments	7,931	9,591	10,873	8,408	4,477	3,759	3,175	2,789	440	536	582
Goodwill	3,375	2,397	2,738	2,910	2,913	1,895	2,887	2,807	2,826	2,799	2,669
Intangible Assets	2,168	1,994	2,177	2,125	1,954	1,812	2,057	1,829	1,613	1,382	918
Other Noncurrent Operating Assets	119	109	148	181	1,487	1,446	1,555	1,469	1,645	1,668	2,024
Total Liabilities & Shareholders' Equity	17,421	19,839	25,451	22,687	21,402	21,874	23,641	25,361	24,342	27,708	29,264
Total Liabilities	8,625	9,990	14,187	13,902	15,469	16,981	17,463	22,579	27,086	31,728	34,842
Total Current Liabilities	1,439	2,859	3,498	3,555	5,366	3,425	6,246	8,474	13,330	15,647	16,698
Short-Term Debt	0.00	968	711	0.00	988	985	1,989	500	1,961	1,745	1,880
Accounts Payable	323	419	668	1,134	1,239	735	1,586	2,507	3,374	3,824	5,094
Accrued Expenses	682	857	1,139	1,399	1,578	1,382	1,765	3,244	4,741	6,047	4,454
Current Deferred Revenue	435	614	980	1,022	1,561	323	906	2,223	3,254	4,031	5,270
Total Noncurrent Liabilities	7,186	7,132	10,689	10,347	10,103	13,556	11,217	14,105	13,756	16,081	18,144
Long-Term Debt	6,158	6,171	8,810	8,649	7,640	11,029	8,937	11,985	12,223	14,853	16,856
Capital Lease Obligations	-	-	-	0.00	-	366	351	552	599	483	557
Other Noncurrent Operating Liabilities	135	139	147	162	566	111	199	172	161	199	731
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	8,795	9,820	11,261	8,785	5,933	4,893	6,178	2,782	-2,744	-4,020	-5,578
Total Preferred & Common Equity	8,795	9,820	11,261	8,785	5,933	4,893	6,178	2,782	-2,744	-4,020	-5,578
Total Common Equity	8,795	9,820	11,261	8,785	5,933	4,893	6,178	2,782	-2,744	-4,020	-5,578
Common Stock	5,185	5,483	5,783	5,445	5,756	5,851	6,159	6,491	7,175	7,707	8,357
Retained Earnings	9,192	11,327	13,939	18,367	23,232	23,288	24,453	27,541	31,830	36,525	40,670
Treasury Stock	-5,827	-6,855	-8,699	-14,711	-22,864	-24,128	-24,290	-30,983	-41,426	-47,877	-54,315
Accumulated Other Comprehensive Income / (Loss)	245	-135	238	-316	-191	-118	-144	-267	-323	-375	-290

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	26,558	25,635	24,342	27,728	28,541	27,978	27,708	27,191	30,684	28,752	27,720
Total Current Assets	19,349	18,479	17,034	20,476	21,293	20,529	20,491	19,950	23,263	21,703	20,934
Cash & Equivalents	14,602	13,294	12,107	15,629	16,290	15,775	16,164	15,578	17,595	16,509	16,024
Accounts Receivable	2,805	3,447	3,253	3,296	3,814	3,649	3,199	3,290	4,370	4,013	3,520
Prepaid Expenses	849	680	644	737	670	490	587	530	626	579	619
Other Current Assets	453	434	454	452	482	615	541	552	672	602	771
Plant, Property, & Equipment, net	732	733	784	805	875	882	832	857	848	817	784
Total Noncurrent Assets	6,477	6,423	6,524	6,447	6,373	6,567	6,385	6,384	6,573	6,232	6,002
Long-Term Investments	440	420	440	443	468	500	536	538	559	651	473
Goodwill	2,821	2,804	2,826	2,815	2,814	2,838	2,799	2,816	2,855	2,669	2,662
Intangible Assets	1,722	1,660	1,613	1,553	1,498	1,450	1,382	1,333	1,291	961	882
Other Noncurrent Operating Assets	1,494	1,539	1,645	1,636	1,593	1,779	1,668	1,697	1,868	1,951	1,985
Total Liabilities & Shareholders' Equity	26,558	25,635	24,342	27,728	28,541	27,978	27,708	27,191	30,684	28,752	27,720
Total Liabilities	27,223	26,260	27,086	31,780	32,817	31,631	31,728	33,303	37,341	33,488	36,444
Total Current Liabilities	12,481	12,832	13,330	16,832	18,206	16,678	15,647	16,394	18,636	16,265	19,811
Short-Term Debt	855	1,913	1,961	3,462	3,447	2,419	1,745	655	999	999	3,015
Accounts Payable	2,123	3,020	3,374	3,268	3,928	4,065	3,824	3,292	4,280	4,025	4,131
Accrued Expenses	3,463	4,182	4,741	4,774	3,900	5,287	6,047	5,576	4,208	4,958	4,476
Current Deferred Revenue	6,040	3,717	3,254	5,328	6,931	4,907	4,031	6,871	9,149	6,283	8,189
Total Noncurrent Liabilities	14,742	13,428	13,756	14,948	14,611	14,953	16,081	16,909	18,705	17,223	16,633
Long-Term Debt	13,198	11,856	12,223	13,438	13,361	13,793	14,853	15,369	17,473	15,997	15,398
Capital Lease Obligations	533	547	599	556	529	508	483	476	517	533	530
Other Noncurrent Operating Liabilities	157	160	161	152	200	204	199	653	679	679	705
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	-665	-625	-2,744	-4,052	-4,276	-3,653	-4,020	-6,112	-6,657	-4,736	-8,724
Total Preferred & Common Equity	-665	-625	-2,744	-4,052	-4,276	-3,653	-4,020	-6,112	-6,657	-4,736	-8,724
Total Common Equity	-665	-625	-2,744	-4,052	-4,276	-3,653	-4,020	-6,112	-6,657	-4,736	-8,724
Common Stock	6,848	6,996	7,175	7,330	7,479	7,635	7,707	7,867	8,029	8,187	8,503
Retained Earnings	29,097	31,608	31,830	32,304	33,527	35,749	36,525	36,539	37,119	39,553	41,420
Treasury Stock	-36,319	-38,944	-41,426	-43,330	-44,958	-46,734	-47,877	-50,131	-51,502	-52,175	-58,337
Accumulated Other Comprehensive Income / (Loss)	-291	-285	-323	-356	-324	-303	-375	-387	-303	-301	-310

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.26%	16.47%	18.04%	14.56%	3.71%	-54.89%	61.24%	55.96%	25.01%	11.11%	13.39%
EBITDA Growth	10.20%	-10.27%	53.74%	13.18%	23.87%	-77.39%	53.23%	96.08%	28.09%	36.54%	-4.04%
EBIT Growth	5.51%	-12.58%	59.09%	13.52%	21.94%	-85.17%	94.91%	127.63%	30.84%	39.47%	0.74%
NOPAT Growth	6.75%	-13.96%	5.60%	82.88%	-1.18%	-101.50%	3,122.98%	100.37%	14.81%	33.47%	14.54%
Net Income Growth	5.35%	-16.32%	9.65%	70.78%	21.69%	-98.79%	1,874.58%	162.49%	40.26%	37.14%	-8.13%
EPS Growth	8.28%	-13.75%	9.87%	77.68%	34.30%	-98.71%	1,856.25%	171.03%	53.77%	47.10%	-4.12%
Operating Cash Flow Growth	21.27%	24.36%	17.02%	14.50%	-8.86%	-98.25%	3,217.65%	132.41%	12.05%	13.33%	13.05%
Free Cash Flow Firm Growth	1,586.13%	33.79%	-15.82%	39.44%	3.54%	-94.06%	408.23%	394.78%	-2.89%	37.64%	-14.31%
Invested Capital Growth	-0.15%	-29.22%	-18.93%	9.24%	1.17%	-11.64%	27.62%	-79.73%	-270.98%	-235.70%	-11.84%
Revenue Q/Q Growth	1.76%	3.35%	3.72%	2.90%	0.84%	-23.61%	18.91%	6.67%	3.56%	2.98%	3.37%
EBITDA Q/Q Growth	5.08%	5.07%	4.11%	-2.12%	13.25%	-45.68%	31.61%	12.14%	-16.65%	5.73%	0.96%
EBIT Q/Q Growth	2.22%	5.40%	4.10%	-2.42%	13.83%	-57.56%	43.81%	13.50%	-18.48%	5.92%	1.26%
NOPAT Q/Q Growth	2.48%	7.69%	-34.25%	56.69%	-2.20%	-111.81%	210.72%	16.30%	-14.52%	15.45%	6.07%
Net Income Q/Q Growth	2.10%	8.63%	-34.43%	42.95%	12.10%	-95.77%	204.97%	25.28%	-19.11%	16.80%	7.14%
EPS Q/Q Growth	2.57%	9.53%	-34.35%	42.52%	13.41%	-95.56%	207.20%	25.29%	-17.38%	17.64%	7.86%
Operating Cash Flow Q/Q Growth	18.49%	2.96%	1.67%	-1.65%	-0.14%	-95.11%	43.58%	40.64%	-10.12%	-6.98%	8.90%
Free Cash Flow Firm Q/Q Growth	7.33%	10.69%	0.12%	-8.11%	16.47%	-86.14%	-3.82%	102.36%	-14.41%	10.32%	-4.25%
Invested Capital Q/Q Growth	-4.22%	-10.77%	-39.45%	13.76%	-12.02%	32.34%	176.57%	-53.14%	-67.54%	-13.44%	6.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	93.15%	96.14%	98.09%	85.94%	85.08%	71.39%	100.00%	85.58%	100.00%	100.00%	87.36%
EBITDA Margin	38.81%	29.90%	38.94%	38.47%	45.95%	23.03%	21.88%	27.51%	28.19%	34.64%	32.16%
Operating Margin	35.33%	27.05%	35.79%	36.77%	35.48%	-9.28%	22.78%	29.85%	27.31%	31.83%	32.79%
EBIT Margin	35.05%	26.31%	35.45%	35.13%	41.31%	13.58%	16.42%	23.96%	25.08%	31.48%	27.97%
Profit (Net Income) Margin	27.66%	19.87%	18.46%	27.52%	32.29%	0.87%	10.63%	17.89%	20.07%	24.78%	20.08%
Tax Burden Percent	81.56%	78.70%	53.22%	82.69%	81.65%	10.41%	79.52%	77.95%	78.25%	80.66%	79.10%
Interest Burden Percent	96.77%	96.00%	97.84%	94.73%	95.73%	61.43%	81.43%	95.80%	102.30%	97.58%	90.75%
Effective Tax Rate	18.44%	21.30%	46.78%	17.31%	18.35%	89.59%	20.48%	22.05%	21.75%	19.34%	20.90%
Return on Invested Capital (ROIC)	60.72%	61.23%	86.16%	168.18%	158.25%	-2.51%	71.16%	211.43%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	63.19%	63.95%	87.11%	173.84%	147.37%	-6.96%	101.01%	246.79%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-31.33%	-38.33%	-63.98%	-128.30%	-92.14%	3.60%	-50.11%	-143.17%	0.00%	0.00%	0.00%
Return on Equity (ROE)	29.39%	22.90%	22.18%	39.88%	66.11%	1.09%	21.05%	68.26%	22,573.68%	-173.92%	-112.61%
Cash Return on Invested Capital (CROIC)	60.87%	95.45%	107.06%	159.35%	157.09%	9.85%	46.89%	344.02%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	20.08%	15.17%	19.85%	21.21%	28.23%	4.27%	7.91%	16.71%	21.56%	28.71%	26.43%
Return on Assets (ROA)	15.85%	11.46%	10.34%	16.61%	22.07%	0.27%	5.12%	12.48%	17.26%	22.60%	18.97%
Return on Common Equity (ROCE)	29.39%	22.87%	22.14%	39.88%	66.11%	1.09%	21.05%	68.26%	22,573.68%	-173.92%	-112.61%
Return on Equity Simple (ROE_SIMPLE)	29.01%	21.74%	20.79%	45.51%	82.00%	1.21%	18.86%	109.92%	-156.30%	-146.32%	0.00%
Net Operating Profit after Tax (NOPAT)	2,658	2,287	2,415	4,416	4,364	-66	1,985	3,977	4,566	6,094	6,980
NOPAT Margin	28.81%	21.29%	19.04%	30.40%	28.97%	-0.97%	18.11%	23.27%	21.37%	25.67%	25.93%
Net Nonoperating Expense Percent (NNEP)	-2.47%	-2.72%	-0.95%	-5.66%	10.88%	4.45%	-29.86%	-35.36%	-113.53%	20.79%	166.91%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	25.14%	37.93%	46.66%	50.90%
Cost of Revenue to Revenue	6.85%	3.86%	1.91%	14.06%	14.92%	28.61%	0.00%	14.42%	0.00%	0.00%	12.64%
SG&A Expenses to Revenue	18.38%	18.10%	6.03%	6.42%	7.18%	12.95%	29.64%	7.56%	25.76%	21.74%	6.56%
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	57.82%	69.09%	62.31%	49.18%	49.60%	80.68%	77.22%	55.72%	72.69%	68.17%	54.57%
Earnings before Interest and Taxes (EBIT)	3,233	2,826	4,496	5,104	6,224	923	1,799	4,095	5,358	7,473	7,528
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,580	3,212	4,938	5,589	6,923	1,565	2,398	4,702	6,023	8,224	8,656
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.48	7.33	7.49	9.04	14.42	18.55	15.87	27.85	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	20.22	13.26	13.29	21.18	80.25	76.54	79.45	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	7.13	6.70	6.65	5.47	5.68	13.36	8.95	4.53	5.74	6.93	6.41
Price to Earnings (P/E)	25.78	33.72	36.03	19.86	17.58	1,538.57	84.16	25.34	28.60	27.96	31.94
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.70%	0.72%
Earnings Yield	3.88%	2.97%	2.78%	5.03%	5.69%	0.07%	1.19%	3.95%	3.50%	3.58%	3.13%
Enterprise Value to Invested Capital (EV/IC)	14.03	21.08	30.11	26.76	29.70	36.04	30.37	118.83	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	6.65	6.08	5.96	5.05	5.47	13.00	8.67	4.41	5.82	6.94	6.47
Enterprise Value to EBITDA (EV/EBITDA)	17.14	20.32	15.31	13.13	11.90	56.44	39.61	16.02	20.64	20.04	20.12
Enterprise Value to EBIT (EV/EBIT)	18.98	23.10	16.81	14.37	13.24	95.70	52.80	18.40	23.21	22.06	23.13
Enterprise Value to NOPAT (EV/NOPAT)	23.08	28.54	31.30	16.61	18.88	0.00	47.86	18.94	27.23	27.05	24.95
Enterprise Value to Operating Cash Flow (EV/OCF)	19.15	16.38	16.21	13.74	16.93	1,039.22	33.69	11.49	16.93	19.80	18.51
Enterprise Value to Free Cash Flow (EV/FCFF)	23.02	18.31	25.19	17.53	19.02	343.26	72.63	11.64	19.79	19.06	23.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.72	0.85	0.98	1.45	2.53	1.83	4.69	-5.39	-4.25	-3.46
Long-Term Debt to Equity	0.70	0.63	0.78	0.98	1.29	2.33	1.50	4.51	-4.67	-3.81	-3.12
Financial Leverage	-0.50	-0.60	-0.73	-0.74	-0.63	-0.52	-0.50	-0.58	-12.84	-0.30	-0.20
Leverage Ratio	1.85	2.00	2.15	2.40	3.00	4.00	4.11	5.47	1,307.97	-7.70	-5.94
Compound Leverage Factor	1.79	1.92	2.10	2.27	2.87	2.46	3.35	5.24	1,338.00	-7.51	-5.39
Debt to Total Capital	41.18%	42.02%	45.81%	49.61%	59.25%	71.67%	64.61%	82.41%	122.79%	130.78%	140.67%
Short-Term Debt to Total Capital	0.00%	5.70%	3.42%	0.00%	6.79%	5.70%	11.40%	3.16%	16.29%	13.36%	13.71%
Long-Term Debt to Total Capital	41.18%	36.33%	42.39%	49.61%	52.47%	65.97%	53.21%	79.25%	106.50%	117.42%	126.96%
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%	0.17%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	58.82%	57.81%	54.18%	50.39%	40.75%	28.33%	35.39%	17.59%	-22.79%	-30.78%	-40.67%
Debt to EBITDA	1.72	2.22	1.93	1.55	1.25	7.91	4.70	2.77	2.45	2.08	2.23
Net Debt to EBITDA	-1.24	-2.10	-1.77	-1.08	-0.46	-1.56	-1.27	-0.46	0.28	0.05	0.17
Long-Term Debt to EBITDA	1.72	1.92	1.78	1.55	1.10	7.28	3.87	2.67	2.13	1.86	2.01
Debt to NOPAT	2.32	3.12	3.94	1.96	1.98	-188.55	5.68	3.28	3.24	2.80	2.76
Net Debt to NOPAT	-1.66	-2.95	-3.62	-1.37	-0.72	37.19	-1.54	-0.54	0.36	0.06	0.22
Long-Term Debt to NOPAT	2.32	2.70	3.65	1.96	1.75	-173.55	4.68	3.15	2.81	2.52	2.49
Altman Z-Score	6.60	6.29	5.68	6.20	6.75	5.63	5.88	5.13	6.33	6.91	6.92
Noncontrolling Interest Sharing Ratio	0.00%	0.15%	0.15%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.47	1.89	2.58	2.36	1.83	3.56	2.10	1.86	1.28	1.31	1.33
Quick Ratio	2.29	1.81	2.46	2.20	1.68	3.38	2.00	1.73	1.20	1.24	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,665	3,565	3,001	4,184	4,332	257	1,308	6,471	6,284	8,649	7,411
Operating Cash Flow to CapEx	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%	2,922.05%
Free Cash Flow to Firm to Interest Expense	16.63	17.14	11.81	15.56	16.29	0.72	3.92	16.55	7.01	6.68	4.58
Operating Cash Flow to Interest Expense	19.99	19.15	18.35	19.84	18.29	0.24	8.44	16.76	8.19	6.43	5.82
Operating Cash Flow Less CapEx to Interest Expense	18.91	18.10	17.22	18.20	16.91	-0.56	7.53	15.82	7.80	6.10	5.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.58	0.56	0.60	0.68	0.31	0.48	0.70	0.86	0.91	0.94
Accounts Receivable Turnover	14.31	14.27	12.20	10.60	9.41	6.15	11.61	9.53	7.79	7.36	7.67
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	38.94	34.55	30.67	25.58	21.62	9.10	13.89	22.92	29.41	29.38	32.85
Accounts Payable Turnover	2.09	1.12	0.45	2.27	1.89	1.97	0.00	1.20	0.00	0.00	0.76
Days Sales Outstanding (DSO)	25.50	25.57	29.91	34.43	38.80	59.32	31.43	38.30	46.83	49.60	47.59
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)	174.46	326.28	819.82	161.05	192.65	185.32	0.00	303.03	0.00	0.00	478.26
Cash Conversion Cycle (CCC)	-148.95	-300.71	-789.92	-126.62	-153.85	-126.00	31.43	-264.73	46.83	49.60	-430.68
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,374	3,096	2,510	2,742	2,774	2,451	3,128	634	-1,084	-3,639	-4,070
Invested Capital Turnover	2.11	2.88	4.52	5.53	5.46	2.60	3.93	9.09	-94.96	-10.05	-6.98
Increase / (Decrease) in Invested Capital	-6.68	-1,278	-586	232	32	-323	677	-2,494	-1,718	-2,555	-431
Enterprise Value (EV)	61,348	65,268	75,587	73,370	82,385	88,334	94,994	75,336	124,334	164,819	174,131
Market Capitalization	65,769	71,992	84,338	79,413	85,544	90,776	98,044	77,484	122,674	164,438	172,623
Book Value per Share	$169.68	$199.01	$230.90	$189.62	$141.75	$119.47	$150.45	$71.72	($78.65)	($121.46)	($173.05)
Tangible Book Value per Share	$62.75	$110.03	$130.12	$80.94	$25.47	$28.96	$30.05	($47.80)	($205.88)	($247.79)	($284.33)
Total Capital	14,954	16,987	20,785	17,434	14,561	17,273	17,455	15,819	12,039	13,061	13,715
Total Debt	6,158	7,138	9,521	8,649	8,628	12,380	11,277	13,037	14,783	17,081	19,293
Total Long-Term Debt	6,158	6,171	8,810	8,649	7,640	11,395	9,288	12,537	12,822	15,336	17,413
Net Debt	-4,421	-6,753	-8,754	-6,043	-3,159	-2,442	-3,050	-2,148	1,660	381	1,508
Capital Expenditures (CapEx)	174	220	288	442	368	286	304	368	345	429	322
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-535	-789	-1,154	-1,432	-1,855	-1,297	-2,264	-4,572	-7,018	-9,575	-9,757
Debt-free Net Working Capital (DFNWC)	2,114	3,511	6,248	4,852	5,455	9,766	8,888	7,824	5,665	6,589	7,446
Net Working Capital (NWC)	2,114	2,543	5,537	4,852	4,467	8,781	6,899	7,324	3,704	4,844	5,566
Net Nonoperating Expense (NNE)	107	152	74	418	-501	-125	820	919	277	212	1,576
Net Nonoperating Obligations (NNO)	-4,421	-6,753	-8,754	-6,043	-3,159	-2,442	-3,050	-2,148	1,660	381	1,508
Total Depreciation and Amortization (D&A)	347	386	442	485	699	642	599	607	665	751	1,128
Debt-free, Cash-free Net Working Capital to Revenue	-5.80%	-7.35%	-9.10%	-9.86%	-12.31%	-19.08%	-20.66%	-26.75%	-32.85%	-40.33%	-36.25%
Debt-free Net Working Capital to Revenue	22.92%	32.68%	49.27%	33.40%	36.21%	143.70%	81.11%	45.78%	26.52%	27.76%	27.66%
Net Working Capital to Revenue	22.92%	23.67%	43.66%	33.40%	29.65%	129.21%	62.96%	42.86%	17.34%	20.41%	20.68%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$50.09	$43.14	$47.78	$84.26	$112.93	$1.45	$28.39	$76.70	$118.67	$174.96	$166.52
Adjusted Weighted Average Basic Shares Outstanding	50.94M	49.49M	48.99M	47.45M	43.08M	40.97M	41.04M	39.87M	36.14M	33.62M	32.45M
Adjusted Diluted Earnings per Share	$49.45	$42.65	$46.86	$83.26	$111.82	$1.44	$28.17	$76.35	$117.40	$172.69	$165.57
Adjusted Weighted Average Diluted Shares Outstanding	51.59M	50.06M	49.95M	48.02M	43.51M	41.16M	41.36M	40.05M	36.53M	34.06M	32.64M
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	49.62M	49.17M	48.29M	45.01M	41.06M	40.96M	40.89M	37.65M	34.17M	32.82M	31.67M
Normalized Net Operating Profit after Tax (NOPAT)	2,658	3,027	2,415	4,416	4,364	406	1,985	3,977	4,566	6,094	7,342
Normalized NOPAT Margin	28.81%	28.18%	19.04%	30.40%	28.97%	5.97%	18.11%	23.27%	21.37%	25.67%	27.28%
Pre Tax Income Margin	33.92%	25.25%	34.69%	33.28%	39.55%	8.34%	13.37%	22.95%	25.65%	30.72%	25.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	20.18	13.59	17.70	18.97	23.40	2.59	5.39	10.47	5.97	5.77	4.66
NOPAT to Interest Expense	16.59	10.99	9.51	16.42	16.41	-0.18	5.94	10.17	5.09	4.71	4.32
EBIT Less CapEx to Interest Expense	19.09	12.53	16.57	17.33	22.02	1.79	4.48	9.53	5.59	5.44	4.46
NOPAT Less CapEx to Interest Expense	15.50	9.94	8.37	14.77	15.02	-0.99	5.03	9.23	4.71	4.37	4.12
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.96%	23.09%
Augmented Payout Ratio	121.07%	47.40%	78.09%	149.35%	168.28%	2,208.47%	13.99%	216.51%	241.94%	130.62%	142.27%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	31,673,346.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	791,833,650.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.37
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.30%	18.15%	16.86%	7.27%	8.90%	14.36%	7.86%	16.03%	12.68%	16.05%	16.17%
EBITDA Growth	35.49%	-63.85%	153.49%	18.31%	-7.49%	263.20%	26.61%	-22.23%	17.16%	-25.33%	33.22%
EBIT Growth	36.70%	-72.28%	239.41%	18.83%	-8.57%	376.44%	-11.94%	-31.96%	23.71%	5.16%	82.21%
NOPAT Growth	25.12%	-71.25%	65.82%	10.12%	12.72%	258.92%	36.32%	24.19%	-1.07%	31.79%	10.17%
Net Income Growth	50.72%	-82.02%	191.73%	17.91%	0.24%	381.08%	-57.09%	-41.16%	9.18%	33.71%	225.23%
EPS Growth	66.27%	-81.22%	219.57%	27.20%	6.50%	453.42%	-54.98%	-38.19%	13.55%	38.16%	225.23%
Operating Cash Flow Growth	68,500.00%	-38.06%	-6.40%	45.37%	72.96%	-46.43%	21.41%	26.77%	-39.53%	106.66%	-2.07%
Free Cash Flow Firm Growth	154.86%	-43.73%	-42.76%	28.86%	19.57%	82.50%	69.46%	13.66%	-26.76%	-46.81%	-57.29%
Invested Capital Growth	-147.82%	-270.98%	-93.49%	-112.04%	-395.83%	-235.70%	-89.04%	-55.92%	-36.13%	-11.84%	-9.60%
Revenue Q/Q Growth	34.40%	-34.83%	-7.71%	32.71%	36.44%	-31.56%	-12.96%	42.76%	32.51%	-29.52%	-12.87%
EBITDA Q/Q Growth	87.28%	-83.03%	-15.37%	90.28%	46.43%	-33.39%	-31.78%	16.88%	120.58%	-40.84%	-22.66%
EBIT Q/Q Growth	95.48%	-87.73%	-17.97%	107.34%	50.40%	-36.07%	-55.82%	60.20%	173.45%	-45.66%	-23.46%
NOPAT Q/Q Growth	85.50%	-86.71%	99.15%	124.21%	89.88%	-57.67%	-24.36%	104.25%	51.26%	-43.60%	-36.77%
Net Income Q/Q Growth	94.65%	-91.16%	249.55%	96.01%	65.48%	-57.57%	-68.82%	168.77%	207.04%	-48.03%	-24.16%
EPS Q/Q Growth	100.06%	-91.82%	291.77%	98.39%	67.51%	-57.49%	-68.13%	172.39%	207.73%	-48.28%	-24.16%
Operating Cash Flow Q/Q Growth	-21.01%	-1.90%	100.89%	-6.62%	-6.02%	-69.62%	355.34%	-2.50%	-55.17%	3.83%	115.77%
Free Cash Flow Firm Q/Q Growth	67.52%	-54.25%	3.52%	62.42%	55.44%	-30.17%	-3.87%	8.94%	0.15%	-49.29%	-22.80%
Invested Capital Q/Q Growth	63.26%	-67.54%	-179.52%	-23.23%	14.09%	-13.44%	-57.41%	-1.64%	24.99%	6.80%	-54.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	130.81%	81.29%	86.23%	100.00%	129.85%	100.00%	100.00%	89.51%	61.29%	100.00%
EBITDA Margin	44.72%	11.64%	24.69%	35.40%	37.99%	36.98%	28.98%	23.73%	39.50%	33.15%	29.43%
Operating Margin	42.27%	12.73%	17.92%	31.68%	39.77%	31.60%	22.30%	33.10%	38.67%	31.97%	22.98%
EBIT Margin	42.42%	7.98%	20.68%	32.31%	35.61%	33.27%	16.88%	18.95%	39.10%	30.15%	26.48%
Profit (Net Income) Margin	34.21%	4.64%	17.58%	25.96%	31.49%	19.52%	6.99%	13.17%	30.51%	22.49%	19.58%
Tax Burden Percent	79.74%	54.01%	82.82%	79.14%	87.73%	68.29%	84.09%	81.07%	79.22%	76.65%	77.41%
Interest Burden Percent	101.12%	107.59%	102.63%	101.53%	100.77%	85.93%	49.25%	85.71%	98.50%	97.34%	95.49%
Effective Tax Rate	20.26%	45.99%	17.18%	20.86%	12.27%	31.71%	15.91%	18.93%	20.78%	23.35%	22.59%
Return on Invested Capital (ROIC)	1,969.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	1,966.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-1,510.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	459.12%	22,573.68%	-322.30%	-203.60%	-235.44%	-173.92%	-107.02%	-88.05%	-120.25%	-112.61%	-82.96%
Cash Return on Invested Capital (CROIC)	0.00%	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)	36.69%	6.86%	17.19%	26.27%	30.63%	30.34%	14.81%	16.01%	35.89%	28.49%	26.71%
Return on Assets (ROA)	29.59%	3.99%	14.61%	21.11%	27.08%	17.81%	6.13%	11.13%	28.00%	21.25%	19.74%
Return on Common Equity (ROCE)	459.12%	22,573.68%	-322.30%	-203.60%	-235.44%	-173.92%	-107.02%	-88.05%	-120.25%	-112.61%	-82.96%
Return on Equity Simple (ROE_SIMPLE)	-848.32%	0.00%	-118.44%	-117.63%	-137.86%	0.00%	-88.99%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2,474	329	655	1,469	2,789	1,181	893	1,824	2,759	1,556	984
NOPAT Margin	33.71%	6.88%	14.84%	25.07%	34.89%	21.58%	18.75%	26.83%	30.63%	24.51%	17.79%
Net Nonoperating Expense Percent (NNEP)	3.14%	-43.83%	14.95%	18.86%	128.59%	11.04%	79.67%	134.94%	2.72%	13.55%	-7.00%
Return On Investment Capital (ROIC_SIMPLE)	-	2.73%	-	-	-	9.04%	8.60%	14.79%	21.57%	11.35%	9.63%
Cost of Revenue to Revenue	0.00%	-30.81%	18.71%	13.77%	0.00%	-29.85%	0.00%	0.00%	10.49%	38.71%	0.00%
SG&A Expenses to Revenue	17.44%	71.63%	8.45%	5.04%	20.48%	52.20%	21.73%	19.33%	5.51%	-17.01%	22.29%
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	57.73%	118.08%	63.37%	54.55%	60.23%	98.25%	77.70%	66.90%	50.84%	29.31%	77.02%
Earnings before Interest and Taxes (EBIT)	3,114	382	913	1,893	2,847	1,820	804	1,288	3,522	1,914	1,465
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,283	557	1,090	2,074	3,037	2,023	1,380	1,613	3,558	2,105	1,628
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	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)	5.30	5.74	5.74	6.00	6.13	6.93	6.28	7.53	6.72	6.41	4.82
Price to Earnings (P/E)	20.61	28.60	26.32	26.72	28.04	27.96	27.79	39.14	34.69	31.94	21.67
Dividend Yield	0.00%	0.00%	0.24%	0.44%	0.62%	0.70%	0.78%	0.63%	0.70%	0.72%	0.93%
Earnings Yield	4.85%	3.50%	3.80%	3.74%	3.57%	3.58%	3.60%	2.55%	2.88%	3.13%	4.61%
Enterprise Value to Invested Capital (EV/IC)	0.00	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)	5.30	5.82	5.79	6.02	6.15	6.94	6.29	7.56	6.73	6.47	4.90
Enterprise Value to EBITDA (EV/EBITDA)	15.12	20.64	16.53	16.82	18.21	20.04	17.80	23.50	20.45	20.12	14.99
Enterprise Value to EBIT (EV/EBIT)	16.62	23.21	18.13	18.43	20.08	22.06	20.58	28.00	23.59	23.13	16.58
Enterprise Value to NOPAT (EV/NOPAT)	20.45	27.23	26.27	27.08	26.83	27.05	24.04	28.38	26.65	24.95	19.14
Enterprise Value to Operating Cash Flow (EV/OCF)	13.37	16.93	17.78	16.98	15.83	19.80	17.03	19.76	20.30	18.51	14.54
Enterprise Value to Free Cash Flow (EV/FCFF)	14.88	19.79	20.17	19.40	18.07	19.06	16.83	21.61	22.66	23.49	17.76
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-22.91	-5.39	-4.31	-4.05	-4.58	-4.25	-2.70	-2.85	-3.70	-3.46	-2.17
Long-Term Debt to Equity	-19.84	-4.67	-3.45	-3.25	-3.91	-3.81	-2.59	-2.70	-3.49	-3.12	-1.83
Financial Leverage	-0.77	-12.84	0.54	0.11	-0.10	-0.30	-0.14	-0.13	-0.10	-0.20	-0.19
Leverage Ratio	15.66	1,307.97	-17.78	-11.15	-12.53	-7.70	-5.40	-5.42	-6.76	-5.94	-3.70
Compound Leverage Factor	15.84	1,407.27	-18.24	-11.32	-12.63	-6.61	-2.66	-4.64	-6.66	-5.78	-3.53
Debt to Total Capital	104.57%	122.79%	130.23%	132.74%	127.96%	130.78%	158.84%	153.98%	137.02%	140.67%	185.37%
Short-Term Debt to Total Capital	13.97%	16.29%	25.83%	26.39%	18.51%	13.36%	6.31%	8.10%	7.81%	13.71%	29.50%
Long-Term Debt to Total Capital	90.59%	106.50%	104.40%	106.35%	109.44%	117.42%	152.53%	145.88%	129.21%	126.96%	155.87%
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	-4.57%	-22.79%	-30.23%	-32.74%	-27.96%	-30.78%	-58.84%	-53.98%	-37.02%	-40.67%	-85.37%
Debt to EBITDA	1.98	2.45	2.27	2.16	2.15	2.08	1.94	2.36	2.04	2.23	2.09
Net Debt to EBITDA	0.00	0.28	0.13	0.07	0.06	0.05	0.05	0.10	0.04	0.17	0.27
Long-Term Debt to EBITDA	1.72	2.13	1.82	1.73	1.84	1.86	1.86	2.23	1.93	2.01	1.76
Debt to NOPAT	2.68	3.24	3.60	3.48	3.17	2.80	2.62	2.85	2.66	2.76	2.67
Net Debt to NOPAT	0.00	0.36	0.21	0.11	0.08	0.06	0.06	0.13	0.06	0.22	0.34
Long-Term Debt to NOPAT	2.32	2.81	2.89	2.79	2.71	2.52	2.51	2.70	2.51	2.49	2.24
Altman Z-Score	5.69	5.66	5.08	5.24	5.79	6.24	5.75	5.86	6.60	6.28	5.51
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	1.44	1.28	1.22	1.17	1.23	1.31	1.22	1.25	1.33	1.33	1.06
Quick Ratio	1.35	1.20	1.15	1.11	1.16	1.24	1.15	1.18	1.26	1.26	0.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,474	2,047	2,119	3,442	5,350	3,736	3,591	3,912	3,918	1,987	1,534
Operating Cash Flow to CapEx	1,932.39%	1,431.91%	2,080.00%	1,729.45%	3,081.82%	948.68%	2,713.22%	5,001.56%	2,242.19%	2,041.10%	3,004.67%
Free Cash Flow to Firm to Interest Expense	17.62	9.84	9.68	13.04	17.54	7.37	5.53	9.36	13.02	7.98	6.06
Operating Cash Flow to Interest Expense	5.40	6.47	12.35	9.56	7.78	1.42	5.06	7.66	4.77	5.98	12.71
Operating Cash Flow Less CapEx to Interest Expense	5.12	6.02	11.75	9.01	7.53	1.27	4.87	7.50	4.55	5.69	12.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.87	0.86	0.83	0.81	0.86	0.91	0.88	0.85	0.92	0.94	1.01
Accounts Receivable Turnover	7.20	7.79	8.23	6.77	6.50	7.36	7.31	6.12	6.80	7.67	8.13
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	25.60	29.41	29.26	27.88	28.55	29.38	28.98	29.05	30.65	32.85	33.74
Accounts Payable Turnover	1.30	0.00	0.04	0.05	0.04	0.00	0.00	0.00	0.23	0.76	0.92
Days Sales Outstanding (DSO)	50.70	46.83	44.33	53.93	56.18	49.60	49.90	59.68	53.70	47.59	44.89
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)	281.20	0.00	9,475.96	6,945.33	8,132.15	0.00	0.00	0.00	1,562.35	478.26	398.09
Cash Conversion Cycle (CCC)	-230.50	46.83	-9,431.63	-6,891.40	-8,075.98	49.60	49.90	59.68	-1,508.65	-430.68	-353.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-647	-1,084	-3,030	-3,734	-3,208	-3,639	-5,728	-5,822	-4,367	-4,070	-6,278
Invested Capital Turnover	58.44	-94.96	-9.57	-8.15	-11.96	-10.05	-5.50	-5.24	-6.88	-6.98	-4.61
Increase / (Decrease) in Invested Capital	-2,000	-1,718	-1,464	-1,973	-2,561	-2,555	-2,698	-2,088	-1,159	-431	-550
Enterprise Value (EV)	109,264	124,334	127,308	134,946	141,654	164,819	151,561	189,219	175,359	174,131	135,801
Market Capitalization	109,286	122,674	126,286	134,404	141,209	164,438	151,177	188,384	174,990	172,623	133,355
Book Value per Share	($17.51)	($78.65)	($118.46)	($126.03)	($108.97)	($121.46)	($186.26)	($204.58)	($146.13)	($173.05)	($275.44)
Tangible Book Value per Share	($142.58)	($205.88)	($246.16)	($253.13)	($236.87)	($247.79)	($312.69)	($331.99)	($258.13)	($284.33)	($387.33)
Total Capital	13,691	12,039	13,404	13,061	13,067	13,061	10,388	12,332	12,793	13,715	10,219
Total Debt	14,316	14,783	17,456	17,337	16,720	17,081	16,500	18,989	17,529	19,293	18,943
Total Long-Term Debt	12,403	12,822	13,994	13,890	14,301	15,336	15,845	17,990	16,530	17,413	15,928
Net Debt	-22	1,660	1,022	542	445	381	384	835	369	1,508	2,446
Capital Expenditures (CapEx)	71	94	130	146	77	76	121	64	64	73	107
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6,358	-7,018	-8,885	-9,793	-9,505	-9,575	-11,367	-11,969	-10,072	-9,757	-11,886
Debt-free Net Working Capital (DFNWC)	7,560	5,665	7,106	6,534	6,270	6,589	4,211	5,626	6,437	7,446	4,138
Net Working Capital (NWC)	5,647	3,704	3,644	3,087	3,851	4,844	3,556	4,627	5,438	5,566	1,123
Net Nonoperating Expense (NNE)	-37	107	-121	-52	272	113	560	929	11	128	-99
Net Nonoperating Obligations (NNO)	-22	1,660	1,022	542	445	381	384	835	369	1,508	2,446
Total Depreciation and Amortization (D&A)	169	175	177	181	190	203	576	325	36	191	163
Debt-free, Cash-free Net Working Capital to Revenue	-30.82%	-32.85%	-40.38%	-43.72%	-41.23%	-40.33%	-47.19%	-47.83%	-38.68%	-36.25%	-42.93%
Debt-free Net Working Capital to Revenue	36.65%	26.52%	32.30%	29.17%	27.20%	27.76%	17.48%	22.48%	24.72%	27.66%	14.95%
Net Working Capital to Revenue	27.37%	17.34%	16.56%	13.78%	16.71%	20.41%	14.76%	18.49%	20.88%	20.68%	4.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$70.62	$5.82	$22.69	$44.94	$75.37	$31.96	$10.14	$27.54	$84.86	$43.98	$1.37
Adjusted Weighted Average Basic Shares Outstanding	35.57M	36.14M	34.21M	33.84M	33.40M	33.62M	32.85M	32.49M	32.38M	32.45M	790M
Adjusted Diluted Earnings per Share	$69.80	$5.71	$22.37	$44.38	$74.34	$31.60	$10.07	$27.43	$84.41	$43.66	$1.36
Adjusted Weighted Average Diluted Shares Outstanding	35.99M	36.53M	34.71M	34.27M	33.86M	34.06M	33.09M	32.62M	32.56M	32.64M	794M
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	34.89M	34.17M	33.93M	33.52M	33.10M	32.82M	32.54M	32.41M	32.23M	31.67M	774.88M
Normalized Net Operating Profit after Tax (NOPAT)	2,474	329	655	1,469	2,789	1,181	893	1,824	3,121	1,556	984
Normalized NOPAT Margin	33.71%	6.88%	14.84%	25.07%	34.89%	21.58%	18.75%	26.83%	34.65%	24.51%	17.79%
Pre Tax Income Margin	42.90%	8.59%	21.22%	32.80%	35.89%	28.59%	8.32%	16.24%	38.51%	29.34%	25.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.26	1.84	4.17	7.17	9.33	3.59	1.24	3.08	11.70	7.69	5.79
NOPAT to Interest Expense	9.74	1.58	2.99	5.56	9.14	2.33	1.38	4.36	9.17	6.25	3.89
EBIT Less CapEx to Interest Expense	11.98	1.38	3.58	6.62	9.08	3.44	1.05	2.93	11.49	7.39	5.37
NOPAT Less CapEx to Interest Expense	9.46	1.13	2.40	5.01	8.89	2.18	1.19	4.21	8.95	5.96	3.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	19.96%	21.95%	25.16%	24.39%	23.09%	20.67%
Augmented Payout Ratio	192.98%	241.94%	210.11%	171.89%	154.29%	130.62%	147.40%	163.52%	134.38%	142.27%	151.32%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven read on Booking Holdings (BKNG) using the last four years of quarterly statements. The bullets focus on the 10 most impactful trends for investors, with positive items first, then neutral, then negative.

Solid quarterly revenue and gross profit in Q4 2025: Operating revenue was 6.349B with gross profit of 3.891B, yielding a robust gross margin around 61% for the quarter.
Net income growth vs year-ago period: Q4 2025 net income attributable to common shareholders was about 1.428B, up from roughly 1.066B in Q4 2024 (year-over-year profitability solidifying).
Strong cash-generating ability: Net cash from continuing operating activities in Q4 2025 was 1.49B, with capex modest at 73M; this implies roughly 1.4B in quarterly free cash flow supporting liquidity and optionality.
Healthy liquidity position: Booking kept a large cash cushion, with cash and equivalents in the mid-teens billions across 2025 (example: about 16.5B–17.6B in recent quarters), providing resilience for volatility.
Active capital return program: The company continued stock buybacks in 2025, including a notable repurchase outflow in Q4 2025 of about 2.12B, signaling confidence in value and disciplined capital allocation.
Seasonality and quarterly volatility: Results swing across quarters (e.g., 4Q vs 3Q in 2025 show notable differences in revenue and margins), highlighting travel demand seasonality and promotional cycles as a driver of quarterly variability.
Operating expense mix elevation: Marketing and SG&A fluctuate (e.g., Marketing Expense around 1.93B in 4Q 2025 vs 2.34B in 3Q 2025), indicating ongoing investment in growth initiatives that can temper near-term margins.
Balance sheet presentation quirks: Some periods show negative values for Total Common Equity or related lines due to data formatting or consolidation nuances rather than immediate solvency concerns; interpret these with caution.
Near-term margin compression in Q4 2025: Gross margin dropped to about 61% in Q4 2025 from roughly 89% in Q3 2025, and operating income declined (2.03B on 6.35B revenue in Q4 vs 3.48B on 9.01B in Q3), suggesting cost pressures or mix effects in the quarter.
Profitability variability across quarters: While Q3 2025 was strong, other quarters (e.g., Q2 and Q4 2025) show more modest profits, underscoring near-term earnings volatility that investors should monitor for ongoing trend clarity.

05/07/26 02:39 PM ETAI 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 2025 ended on December 31, 2025.

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 $5.40 billion in 2025, rising from $2.55 billion in 2015. The previous period was $5.88 billion in 2024. Find out what analysts predict for Booking in the coming months.

What is Booking's operating income?

Booking's total operating income in 2025 was $8.83 billion, based on the following breakdown:

Total Gross Profit: $23.51 billion
Total Operating Expenses: $14.69 billion

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

Over the last 10 years, Booking's total revenue changed from $9.22 billion in 2015 to $26.92 billion in 2025, a change of 191.8%.

How much debt does Booking have?

Booking's total liabilities were at $34.84 billion at the end of 2025, a 9.8% increase from 2024, and a 304.0% increase since 2015.

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 $17.20 billion in 2025, and is currently $17.20 billion as of their latest financial filing in 2025.

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 169.68 in 2015 to -173.05 in 2025, a change of -202.0%.

Related Companies

Financial statements for NASDAQ:BKNG last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Booking (BKNG) Financials

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Booking (BKNG) Financials

Annual Income Statements for Booking

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Quarterly Metrics And Ratios for Booking

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Booking's Financials

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