Booking Holdings Inc. (BKNG) vs Viking Holdings Ltd. (VIK)

Booking Holdings Inc. and Viking Holdings Ltd. are both Travel Services companies. Booking Holdings Inc. is the larger, with a market value of $119.2B against $35.8B — 3.3× the size. Booking Holdings Inc. trades at the lower P/E: 18.1× against 26.5×. Viking Holdings Ltd. grew revenue faster over the last twelve months: 20.0% against 12.9%. Booking Holdings Inc. has the higher net margin (25.5% vs 19.3%) and the lower return on invested capital (0.00% vs 26.5%). Across the 19 metrics below, Booking Holdings Inc. leads on 15 and Viking Holdings Ltd. on 4.

Valuation

Metric BKNG VIK Travel Services median
P/E 18.06 26.50 17.52
P/S 4.46 5.14 2.24
P/B n/m 21.69 2.61
Price to free cash flow 13.21 31.07 12.40
EV/EBITDA 13.08 19.69 12.77
EV/Sales 4.57 5.46 2.38
Earnings yield 5.54% 3.77% 3.30%
Free cash flow yield 7.57% 3.22% 3.22%

Profitability

Metric BKNG VIK Travel Services median
Gross margin 100.00% 43.21% 67.64%
Operating margin 32.87% 23.27% 15.06%
Net margin 25.53% 19.33% 6.64%
Free cash flow margin 33.78% 16.56% 3.21%
Return on equity (82.67%) 194.53% 7.53%
Return on assets 23.88% 10.82% 3.40%
Return on invested capital 0.00% 26.45% 4.65%

Growth

Metric BKNG VIK Travel Services median
Revenue growth (TTM) 12.85% 20.02% 13.25%
EPS growth (last fiscal year) (4.12%) 613.89% —
Revenue growth, 5-year CAGR 31.69% — 28.66%
Net income growth, 5-year CAGR 146.82% — 0.00%

Health

Metric BKNG VIK Travel Services median
Debt to equity (1.87) 3.73 0.32
Current ratio 1.09 0.81 1.20
Net debt to EBITDA 0.16 1.07 1.07

Dividend

Metric BKNG VIK Travel Services median
Dividend yield — — —
Payout ratio 0.00 — 0.00

Size

Metric BKNG VIK Travel Services median
Market cap 119.16b 35.77b 4.41b

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