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Friday 6 November 2026
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Booking Holdings Inc.
BKNG Consumer Cyclical Travel Services
Booking Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $26.9 billion, up 13.4% from fiscal 2024.
- Revenue
- −1.28%
- EPS
- +6.73%
- Free cash flow
- −22.0%
- Total debt
- +18.0%
Quarter to September 2026, against a year earlier
168.72
2.25
−1.32%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
34.24 | 37.47 | 20.44 | 18.06 | 1,475.00 | 84.60 | 25.98 | 29.19 | 28.34 | 32.06 |
Piotroski F-Score |
7 | 6 | 8 | 6 | 5 | 6 | 6 | 7 | 7 | 6 |
Altman Z-Score |
6.32 | 5.71 | 6.33 | 6.73 | 5.41 | 5.99 | 5.34 | 6.52 | 6.97 | 7.08 |
P/S ratio |
6.81 | 6.90 | 5.63 | 5.87 | 13.43 | 8.99 | 4.74 | 5.89 | 7.04 | 6.46 |
P/FCF ratio |
19.43 | 19.99 | 16.69 | 19.68 | 0.00 | 39.14 | 13.10 | 17.97 | 21.16 | 19.13 |
Altman Z″-Score (non-manufacturers) |
4.72 | 5.24 | 6.29 | 6.99 | 6.21 | 6.37 | 6.92 | 6.77 | 7.14 | 7.64 |
P/Operating CF |
66.67 | 74.51 | 75.39 | 82.15 | (158.16) | 352.94 | 37.29 | 93.45 | 231.69 | 116.64 |
Beneish M-Score |
(2.75) | (2.61) | (2.59) | (2.49) | (3.46) | (1.57) | (2.72) | (2.88) | (3.00) | (2.97) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 81 |
P/B ratio |
7.45 | 7.77 | 9.30 | 14.91 | 18.65 | 15.94 | 29.13 | 0.00 | 0.00 | 0.00 |
Price to Tangible BV |
13.47 | 13.78 | 21.79 | 83.00 | 76.95 | 79.80 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
7.07 | 7.16 | 5.93 | 6.03 | 13.70 | 9.04 | 4.79 | 5.98 | 7.07 | 6.51 |
EV/EBITDA |
17.95 | 18.24 | 14.80 | 15.47 | 104.76 | 33.96 | 14.74 | 20.16 | 18.76 | 17.88 |
EV/Operating CF |
19.07 | 19.48 | 16.15 | 18.67 | 1,095.69 | 35.13 | 12.49 | 17.40 | 20.15 | 18.63 |
EV/FCF |
20.19 | 20.76 | 17.61 | 20.20 | (463.35) | 39.38 | 13.23 | 18.26 | 21.25 | 19.29 |
Quick Ratio |
1.81 | 2.46 | 2.20 | 1.68 | 3.38 | 2.00 | 1.73 | 1.20 | 1.24 | 1.26 |
Current Ratio |
1.89 | 2.58 | 2.36 | 1.83 | 3.56 | 2.10 | 1.86 | 1.28 | 1.31 | 1.33 |
Net Debt/EBITDA |
0.68 | 0.68 | 0.61 | 0.40 | 2.11 | 0.21 | 0.14 | 0.32 | 0.08 | 0.16 |
Debt/Assets |
36.12% | 42.34% | 43.26% | 45.08% | 59.14% | 49.71% | 52.03% | 60.39% | 60.83% | 64.02% |
Debt/Equity |
0.73 | 0.96 | 1.12 | 1.63 | 2.64 | 1.90 | 4.74 | (5.36) | (4.19) | (3.36) |
Asset Turnover |
0.58 | 0.56 | 0.60 | 0.68 | 0.31 | 0.48 | 0.70 | 0.86 | 0.91 | 0.94 |
Operating CF/Net income |
1.87 | 1.99 | 1.34 | 1.00 | 1.44 | 2.42 | 2.14 | 1.71 | 1.42 | 1.74 |
Capex/Depreciation |
(0.17) | (0.65) | (0.91) | (0.70) | (0.19) | (0.72) | (0.82) | (0.68) | (0.31) | (0.33) |
Interest Coverage |
13.97 | 17.87 | 19.86 | 20.09 | (1.77) | 7.47 | 13.05 | 6.51 | 5.83 | 5.46 |
| 22.94% | 22.21% | 39.89% | 66.11% | 1.09% | 21.05% | 68.26% | 22,573.68% | (173.92%) | (112.61%) | |
| 11.46% | 10.34% | 16.61% | 22.07% | 0.27% | 5.12% | 12.48% | 17.26% | 22.60% | 18.97% | |
ROIC |
14.32% | 19.38% | 27.10% | 40.38% | (5.83%) | 23.02% | 89.02% | 0.00% | 0.00% | 0.00% |
Return on Tangible Assets |
73.88% | 38.91% | 72.59% | 93.47% | 0.62% | 15.09% | 38.26% | 95.57% | 103.63% | 84.80% |
Average Days of Receivables |
29.22 | 35.06 | 38.27 | 40.70 | 28.41 | 45.23 | 47.61 | 55.57 | 49.19 | 51.80 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
57.45% | 59.44% | 60.30% | 61.41% | 84.73% | 73.26% | 68.67% | 70.33% | 65.54% | 62.44% |
Intangible Assets out of Total Assets |
0.22 | 0.19 | 0.22 | 0.23 | 0.17 | 0.21 | 0.18 | 0.18 | 0.15 | 0.12 |
Share Based Compensation of Revenue |
2.33% | 2.06% | 2.28% | 2.16% | 3.75% | 3.43% | 2.36% | 2.48% | 2.52% | 2.29% |
Graham Net Nets |
(0.06) | (0.06) | (0.07) | (0.06) | (0.05) | (0.04) | (0.08) | (0.08) | (0.07) | (0.07) |
Graham Number |
17.56 | 19.85 | 23.70 | 23.74 | 2.55 | 12.40 | 14.02 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
2.92% | 2.67% | 4.89% | 5.54% | 0.07% | 1.18% | 3.85% | 3.43% | 3.53% | 3.12% |
Free Cash Flow Yield |
5.15% | 5.00% | 5.99% | 5.08% | (0.22%) | 2.56% | 7.63% | 5.56% | 4.73% | 5.23% |
Revenue per Share |
8.68 | 10.35 | 12.25 | 13.99 | 6.63 | 10.68 | 17.14 | 23.65 | 28.24 | 33.18 |
Operating CF per Share |
3.22 | 3.81 | 4.50 | 4.52 | 0.08 | 2.75 | 6.58 | 8.13 | 9.90 | 11.60 |
Capex per Share |
(0.18) | (0.24) | (0.37) | (0.34) | (0.28) | (0.30) | (0.37) | (0.38) | (0.51) | (0.40) |
Free Cash Flow per Share |
3.04 | 3.57 | 4.13 | 4.18 | (0.20) | 2.45 | 6.21 | 7.75 | 9.39 | 11.20 |
Cash per Share |
3.48 | 6.04 | 5.30 | 6.79 | 10.80 | 10.87 | 12.44 | 14.04 | 19.23 | 21.20 |
Shareholders Equity per Share |
7.94 | 9.19 | 7.41 | 5.51 | 4.78 | 6.02 | 2.79 | (3.04) | (4.78) | (6.88) |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
7.94 | 9.19 | 7.41 | 5.51 | 4.78 | 6.02 | 2.79 | (3.04) | (4.78) | (6.88) |
Free Cash Flow |
3,764.00 | 4,374.00 | 4,896.00 | 4,497.00 | (201.00) | 2,516.00 | 6,186.00 | 6,999.00 | 7,894.00 | 9,087.00 |
Working Capital |
2,542.85 | 5,537.00 | 4,852.00 | 4,467.00 | 8,781.00 | 6,899.00 | 7,324.00 | 3,704.00 | 4,844.00 | 5,566.00 |
Capital Expenditures |
(220.00) | (288.00) | (442.00) | (368.00) | (286.00) | (304.00) | (368.00) | (345.00) | (429.00) | (322.00) |
Net Current Asset Value |
(4,617.31) | (5,155.00) | (5,495.00) | (5,636.00) | (4,775.00) | (4,318.00) | (6,781.00) | (10,052.00) | (11,237.00) | (12,578.00) |
EV/EBIT |
26.15 | 20.01 | 16.14 | 16.99 | 0.00 | 39.69 | 16.04 | 21.90 | 22.20 | 19.87 |
Capex to Sales |
0.02 | 0.02 | 0.03 | 0.02 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 |
Price to Operating Income |
25.16 | 19.27 | 15.30 | 16.55 | 0.00 | 39.45 | 15.88 | 21.56 | 22.11 | 19.69 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
3.82 | 0.92 | 0.74 | 0.71 | 2.01 | 0.51 | 0.67 | 0.64 | 1.67 | 1.22 |
Cash ROIC |
17.68% | 14.86% | 19.68% | 19.64% | (0.70%) | 8.65% | 21.80% | 28.41% | 27.22% | 29.93% |
Accounts Receivable Turnover |
14.27 | 12.20 | 10.60 | 9.41 | 6.15 | 11.61 | 9.53 | 7.79 | 7.36 | 7.67 |
Accounts Payable Turnover |
1.12 | 0.45 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
Average Days of Payables |
368.61 | 1,007.52 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
Average Receivables |
752.64 | 1,039.06 | 1,370.50 | 1,601.50 | 1,104.50 | 943.50 | 1,793.50 | 2,741.00 | 3,226.00 | 3,509.50 |
Average Payables |
370.98 | 543.55 | 901.00 | 1,186.50 | 987.00 | 1,160.50 | 2,046.50 | 2,940.50 | 3,599.00 | 4,459.00 |
Average Assets |
18,629.77 | 22,644.99 | 24,069.00 | 22,044.50 | 21,638.00 | 22,757.50 | 24,501.00 | 24,851.50 | 26,025.00 | 28,486.00 |
Average Common Equity |
9,307.81 | 10,540.57 | 10,023.00 | 7,359.00 | 5,413.00 | 5,535.50 | 4,480.00 | 19.00 | (3,382.00) | (4,799.00) |
Columns are period end dates · fundamentals updated 5 Nov 2026