Booking Holdings Inc. (BKNG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.43	$2.54	+4.5%	—	$7.4B	—
Q1 26	$1.08	$1.14	+5.6%	—	$5.5B	—
Q4 25	$1.95	$1.95	0.0%	—	$6.3B	—
Q3 25	$3.84	$3.98	+3.6%	—	$9B	—
Q2 25	$2.02	$2.22	+9.9%	—	$6.8B	—
Q1 25	$0.7	$0.99	+41.4%	—	$4.8B	—
Q4 24	$1.44	$1.66	+15.3%	—	$5.5B	—
Q3 24	$3.1	$3.36	+8.4%	—	$8B	—
Q2 24	$1.55	$1.68	+8.4%	—	$5.9B	—
Q1 24	$14.1	$20.4	+44.7%	—	$4.4B	—
Q4 23	$1.2	$1.28	+6.7%	—	$4.8B	—
Q3 23	$67.6	$72.3	+7.0%	—	$7.3B	—
Q2 23	$28.9	$37.6	+30.2%	—	$5.5B	—
Q1 23	$10.6	$11.6	+9.3%	—	$3.8B	—
Q4 22	$22.2	$24.7	+11.2%	—	$4B	—
Q3 22	$49.9	$53	+6.2%	—	$6.1B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.66	—	—	$26.9B	—
FY24	—	$175	—	—	$23.7B	—
FY23	—	$118.7	—	—	$21.4B	—
FY22	—	$76.7	—	—	$17.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$10.7B	$12.7B	$14.5B	$15.1B	$6.8B	$11B	$17.1B	$21.4B	$23.7B	$26.9B
YoY change	+16.5%	+18%	+14.6%	+3.71%	-54.9%	+61.2%	+56%	+25%	+11.1%	+13.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	10.7B	12.7B	14.5B	15.1B	6.8B	11B	17.1B	21.4B	23.7B	26.9B
Cost of revenue	415M	242M	—	—	—	—	—	—	—	—
Gross profit	10.3B	12.4B	—	—	—	—	—	—	—	—
Gross margin	96.1%	98.1%	—	—	—	—	—	—	—	—
Research & development	142M	189M	233M	285M	—	—	—	—	—	—
Selling, general & administrative	6B	7.3B	8.5B	9B	5.5B	7.6B	11.2B	14.4B	14.8B	15.9B
Operating expenses	6.3B	7.7B	9B	9.5B	5.8B	8B	11.5B	15B	15.6B	17B
Operating income	3.8B	4.5B	5.3B	5.3B	580M	2.5B	5.1B	5.8B	7.6B	9.3B
Operating margin	35.8%	35.8%	36.8%	35.5%	8.53%	22.8%	29.9%	27.3%	31.8%	34.5%
Non-operating income, net	-1B	-42M	-237M	727M	289M	-713M	-1B	-477M	-82M	-1.8B
Pretax income	2.7B	4.4B	4.8B	6B	567M	1.5B	3.9B	5.5B	7.3B	6.8B
Income tax	578M	2.1B	837M	1.1B	508M	300M	865M	1.2B	1.4B	1.4B
Net income	2.1B	2.3B	4B	4.9B	59M	1.2B	3.1B	4.3B	5.9B	5.4B
Net margin	19.9%	18.5%	27.5%	32.3%	0.87%	10.6%	17.9%	20.1%	24.8%	20.1%
EBITDA	4.3B	5.1B	5.5B	6.2B	1.3B	3.1B	5.9B	7.5B	8.9B	11B
EPS	43.1	47.8	84.3	112.9	1.45	28.4	76.7	118.7	175	6.66
Diluted EPS	42.6	46.9	83.3	111.8	1.44	28.2	76.3	117.4	172.7	6.62

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	7.3B	4.8B	4.4B	5.9B	8B	5.5B	4.8B	6.8B	9B	6.3B	5.5B	7.4B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.9B	3.9B	3.3B	3.7B	4.5B	3.3B	3.3B	4.1B	4.6B	3.9B	3.9B	4.4B
Operating expenses	4.1B	4B	3.5B	3.9B	4.7B	3.6B	3.5B	4.4B	4.9B	4.2B	4.1B	4.7B
Operating income	3.1B	605M	791M	1.9B	3.2B	1.7B	1.1B	2.3B	3.9B	2B	1.3B	2.5B
Operating margin	42.3%	12.6%	17.9%	31.7%	39.8%	31.6%	22.3%	33.1%	43.7%	32%	23%	34%
Non-operating income, net	11M	-223M	122M	37M	-332M	91M	-258M	-962M	-418M	-116M	194M	159M
Pretax income	3.1B	411M	937M	1.9B	2.9B	1.6B	396M	1.1B	3.5B	1.9B	1.4B	2.6B
Income tax	638M	189M	161M	401M	352M	496M	63M	209M	721M	435M	316M	610M
Net income	2.5B	222M	776M	1.5B	2.5B	1.1B	333M	895M	2.7B	1.4B	1.1B	1.9B
Net margin	34.2%	4.64%	17.6%	26%	31.5%	19.5%	6.99%	13.2%	30.5%	22.5%	19.6%	26.5%
EBITDA	3.6B	1B	1.2B	2.3B	3.7B	1.7B	1.6B	—	—	—	—	2.9B
EPS	70.6	6.37	22.7	44.9	75.4	32.3	0.41	1.1	3.39	—	1.37	2.54
Diluted EPS	69.8	6.28	22.4	44.4	74.3	31.9	0.4	1.1	3.38	—	1.36	2.53

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.9B	3.4B	3.3B	3.5B	3.7B	3.9B	3.2B	5.1B	6.7B	—	127B
Enterprise value	5.7B	5.5B	5.6B	5.3B	5B	4.1B	3.9B	7.2B	7.6B	—	126.9B
Shares outstanding	49.5M	49M	47.4M	43.1M	41M	41M	39.9M	36.1M	33.6M	811.3M	811.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	1.36	1.45	0.82	0.73	61.9	3.38	1.05	1.2	1.14	—	18.2
P/S	0.27	0.27	0.23	0.23	0.54	0.36	0.19	0.24	0.28	—	4.51
P/B	0.29	0.3	0.37	0.6	0.75	0.64	1.16	-1.87	-1.66	—	-11.7
EV/EBITDA	1.35	1.09	1.02	0.86	3.91	1.31	0.65	0.96	0.85	—	12.2
EV/Sales	0.53	0.44	0.39	0.35	0.73	0.37	0.23	0.34	0.32	—	4.49
Earnings yield	73.6%	68.7%	122.3%	137.5%	1.62%	29.6%	95.1%	83.6%	88%	—	5.48%
FCF yield	128%	128.4%	149.8%	127.1%	-5.51%	63.9%	192.5%	136.5%	118.1%	—	6.08%
PEG	—	—	—	—	—	—	—	—	—	—	0.14

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	96.1%	98.1%	—	—	—	—	—	—	—	—	—
Operating margin	35.8%	35.8%	36.8%	35.5%	8.53%	22.8%	29.9%	27.3%	31.8%	34.5%	34.4%
Net margin	19.9%	18.5%	27.5%	32.3%	0.87%	10.6%	17.9%	20.1%	24.8%	20.1%	25.5%
ROE	21.7%	20.8%	45.5%	82%	1.21%	18.9%	109.9%	-156.3%	-146.3%	-96.9%	-96.9%
ROA	10.8%	9.2%	17.6%	22.7%	0.27%	4.93%	12.1%	17.6%	21.2%	18.5%	20.4%
ROIC	23.9%	18%	39.6%	56.6%	0.97%	31.5%	116.2%	-709%	-196.4%	-210.5%	-103.5%
Return on tangible assets	19.3%	15%	31.7%	41.7%	0.41%	8.47%	19%	27.7%	30.4%	24.5%	31.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.89	2.58	2.36	1.83	3.56	2.1	1.86	1.28	1.31	1.33	1.09
Quick ratio	1.89	2.58	2.36	1.83	3.56	2.1	1.86	1.28	1.31	1.33	1.09
Debt / equity	0.72	0.85	0.98	1.53	2.53	1.83	4.69	-5.39	-4.25	-3.46	-0.02
Debt / assets	0.36	0.37	0.38	0.42	0.57	0.48	0.51	0.61	0.62	0.66	0.7
Net debt / EBITDA	0.67	0.42	0.43	0.29	1.04	0.04	0.11	0.28	0.1	0.19	0.34
Interest coverage	14	18.3	19	23.4	2.59	5.39	11	7.11	6.63	5.23	9.42
Effective tax rate	21.3%	46.8%	17.3%	18.3%	89.6%	20.5%	22%	21.7%	19.3%	20.9%	22.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	217.1	258.8	306.2	349.7	165.9	267	428.6	591.2	706.1	33.2	35.6
EPS (basic)	43.1	47.8	84.3	112.9	1.45	28.4	76.7	118.7	175	6.66	6.66
EPS (diluted)	42.6	46.9	83.3	111.8	1.44	28.2	76.3	117.4	172.7	6.62	9
Book value per share	199	229.9	185.2	137.7	119.4	150.5	69.8	-75.9	-119.6	-6.88	-14.2
FCF per share	75.1	89.3	103.2	104.4	-4.91	61.3	155.1	193.7	234.8	11.2	12.4
Cash per share	86.9	151.1	132.4	169.7	270	271.7	310.9	350.9	480.8	21.2	22.9
Capex per share	4.45	5.88	9.32	8.54	6.98	7.41	5.84	9.55	12.8	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.05%	2.27%	3.04%	2.44%	4.21%	2.77%	1.36%	1.61%	1.81%	—	—
Capex / operating cash flow	9.35%	7.13%	8.82%	6.41%	510.7%	15%	3.97%	5.26%	5.56%	—	—
Payout ratio	—	—	—	—	—	—	—	—	20%	23.1%	17.9%
Dividend yield	—	—	—	—	—	—	—	—	17.6%	—	1.02%

Yield

1.02%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.42

ex-dividend Sep 11, 2026

Payout ratio

18%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 11, 2026	$0.42
Jun 5, 2026	$0.42
Mar 6, 2026	$10.50
Dec 5, 2025	$9.60
Sep 5, 2025	$9.60
Jun 6, 2025	$9.60
Mar 7, 2025	$9.60
Dec 6, 2024	$8.75

Split history

Date	Ratio
Apr 6, 2026	25:1
Jun 16, 2003	1:6

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$7.3B	$4.8B	$4.4B	$5.9B	$8B	$5.5B	$4.8B	$6.8B	$9B	$6.3B	$5.5B	$7.4B
YoY change	+21.3%	+18.2%	+16.9%	+7.27%	+8.9%	+14.4%	+7.86%	+16%	+12.7%	+16%	+16.2%	+8.15%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.3B	7.4B	6.3B	7.3B	11.1B	11.2B	12.4B	12.7B	16.2B	17.2B
Receivables	860.1M	1.2B	1.5B	1.7B	529M	1.4B	2.2B	3.3B	3.2B	3.8B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	5.4B	9B	8.4B	9.8B	12.2B	13.1B	15.8B	17B	20.5B	22.3B
Property, plant & equipment	347M	480M	656M	1.4B	1.3B	1.3B	1.3B	1.5B	1.4B	1.4B
Goodwill & intangibles	8.8B	9.8B	10.1B	9.7B	7.4B	9.9B	9.3B	8.9B	8.4B	7.2B
Total assets	19.8B	25.5B	22.7B	21.4B	21.9B	23.6B	25.4B	24.3B	27.7B	29.3B
Accounts payable	419.1M	668M	1.1B	1.2B	735M	1.6B	2.5B	3.5B	3.8B	5.1B
Short-term debt	967.7M	711M	—	988M	985M	2B	500M	2B	1.7B	1.9B
Total current liabilities	2.9B	3.5B	3.6B	5.4B	3.4B	6.2B	8.5B	13.3B	15.6B	16.7B
Long-term debt	6.2B	8.8B	8.6B	8.1B	11.4B	9.3B	12.5B	12.8B	15.3B	17.4B
Total liabilities	10B	14.2B	13.9B	15.5B	17B	17.5B	22.6B	27.1B	31.7B	34.8B
Shareholders' equity	9.8B	11.3B	8.8B	5.9B	4.9B	6.2B	2.8B	-2.7B	-4B	-5.6B
Total debt	7.1B	9.5B	8.6B	9.1B	12.4B	11.3B	13B	14.8B	17.1B	19.3B
Net debt	5.1B	7B	6B	2.8B	1.8B	150M	816M	2.7B	917M	2.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	13.9B	12.7B	16B	16.3B	15.8B	16.2B	15.6B	17.6B	16.5B	17.2B	16B	17.2B
Receivables	3.4B	3.3B	3.3B	3.8B	3.6B	3.2B	3.3B	4.4B	4B	3.8B	3.5B	4.3B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	18.5B	17B	20.5B	21.3B	20.5B	20.5B	19.9B	23.3B	21.7B	22.3B	20.9B	23.1B
Property, plant & equipment	1.4B	1.5B	1.5B	1.5B	1.5B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B
Goodwill & intangibles	8.9B	8.9B	8.7B	8.6B	8.6B	8.4B	8.3B	8.3B	7.3B	7.2B	7.1B	7B
Total assets	25.6B	24.3B	27.7B	28.5B	28B	27.7B	27.2B	30.7B	28.8B	29.3B	27.7B	29.7B
Accounts payable	3B	3.5B	3.3B	3.9B	4.1B	3.8B	3.3B	4.3B	4B	5.1B	4.1B	5.1B
Short-term debt	1.9B	2B	3.5B	3.4B	2.4B	1.7B	655M	999M	999M	1.9B	3B	2B
Total current liabilities	12.8B	13.3B	16.8B	18.2B	16.7B	15.6B	16.4B	18.6B	16.3B	16.7B	19.8B	21.1B
Long-term debt	12.4B	12.8B	14B	13.9B	14.3B	15.3B	15.8B	18B	16.5B	17.4B	15.9B	18.7B
Total liabilities	26.3B	27.1B	31.8B	32.8B	31.6B	31.7B	33.3B	37.3B	33.5B	34.8B	36.4B	40.5B
Shareholders' equity	-625M	-2.7B	-4.1B	-4.3B	-3.7B	-4B	-6.1B	-6.7B	-4.7B	-5.6B	-8.7B	-10.8B
Total debt	14.3B	14.8B	17.5B	17.3B	16.7B	17.1B	16.5B	19B	17.5B	19.3B	18.9B	20.7B
Net debt	1B	2.7B	1.8B	1B	945M	917M	922M	1.4B	1B	2.1B	2.9B	3.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.1B	2.3B	4B	4.9B	59M	1.2B	3.1B	4.3B	5.9B	5.4B
Depreciation & amortization	309M	363M	426M	641M	642M	599M	607M	665M	751M	768M
Stock-based compensation	250M	261M	331M	325M	255M	376M	404M	530M	599M	617M
Change in working capital	-305M	1B	326M	-278M	-1.2B	263M	2B	1.6B	379M	435M
Operating cash flow	2.4B	4B	5B	5.7B	56M	2B	5.9B	6.6B	7.7B	9.4B
Capital expenditure	-220M	-288M	-442M	-368M	-286M	-304M	233M	-345M	-429M	—
Investing cash flow	-3.3B	-4.2B	2.2B	7B	2.6B	-998M	-518M	1.5B	129M	9M
Dividends paid	—	—	—	—	—	—	—	—	-1.2B	-1.2B
Share repurchases	-1B	-1.8B	-6B	-8.2B	-1.3B	-163M	-6.6B	-10.4B	-6.5B	-6.4B
Financing cash flow	44M	-79M	-7.4B	-8.6B	1.5B	-1.2B	-4.9B	-9B	-4.2B	-8.9B
Net change in cash	-887M	-244M	-207M	4.1B	4.2B	-213M	440M	-992M	3.6B	488M
Free cash flow	3.7B	4.4B	4.9B	4.5B	-201M	2.5B	6.2B	7B	7.9B	9.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	2.5B	222M	776M	1.5B	2.5B	1.1B	333M	895M	2.7B	1.4B	1.1B	1.9B
Depreciation & amortization	169M	175M	177M	181M	190M	203M	184M	194M	199M	191M	163M	162M
Stock-based compensation	128M	161M	144M	140M	148M	167M	143M	154M	153M	167M	141M	140M
Change in working capital	-1.6B	545M	1.8B	561M	-832M	-1.1B	2B	1.1B	-2.2B	-445M	1.9B	1.4B
Operating cash flow	1.1B	1B	2.9B	2.4B	1.9B	492M	2.7B	3.2B	1.4B	1.5B	3.2B	3.7B
Capital expenditure	-71M	-94M	-130M	-146M	-77M	-76M	-121M	—	—	—	—	—
Investing cash flow	-22M	-39M	69M	137M	-2M	-42M	-118M	3M	1M	2M	—	—
Dividends paid	0	—	-299M	-295M	-291M	-289M	-319M	-312M	-310M	-307M	-343M	-321M
Share repurchases	-2.6B	-2.5B	-1.9B	-1.7B	-1.8B	-1.2B	-2.2B	-1.5B	-653M	-2.1B	-3.8B	-4B
Financing cash flow	-2.6B	-2.5B	778M	-2B	-3.2B	140M	-4B	-1.8B	-2.5B	-682M	-4B	-5.2B
Net change in cash	-1.5B	-1.5B	3.7B	604M	-1.2B	590M	-1.4B	1.4B	-1B	810M	-811M	-1.4B
Free cash flow	1.3B	1.3B	2.6B	2.4B	2.3B	645M	3.2B	3.1B	1.4B	1.4B	3.1B	3.6B

Booking Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement