Booking Holdings BKNG
Public, NASDAQ, reports in USD. Founded 1996.
Theme: Internet.
Hotel accomodation.
2025-08-01 — Highly profitable AirBnb competitor
Financials millions, USD
| Period | Revenue | Growth % | Gross margin % | R&D % | Operating income | Operating margin % | Net income | EPS (diluted) | Rule of 40 | basis |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 26.9bn USD | 13.4 % | – | – | 8.8bn USD | 32.7 % | 5.4bn USD | 6.62 | 46.1 | |
| 2024 | 23.7bn USD | 11.1 % | 85.9 % | – | 7.6bn USD | 32.0 % | 5.4bn USD | 6.91 | 43.1 | |
| 2023 | 21.4bn USD | 25.0 % | 96.9 % | 3.1 % | 5.8bn USD | 27.3 % | 4.3bn USD | 4.70 | 52.3 | |
| 2022 | 17.1bn USD | – | – | – | 5.1bn USD | 29.9 % | 3.1bn USD | 3.05 | – | |
| 2026-Q2 | 7.4bn USD | 8.1 % | – | – | 2.5bn USD | 34.0 % | 1.9bn USD | 2.53 | 42.2 | |
| 2026-Q1 | 5.5bn USD | – | – | – | 1.3bn USD | 23.0 % | 1.1bn USD | 1.36 | – | |
| 2025-Q4 | 6.3bn USD | – | – | – | 2.0bn USD | 32.0 % | 1.4bn USD | – | – | |
| 2025-Q3 | 9.0bn USD | – | – | – | 3.9bn USD | 43.7 % | 2.7bn USD | 3.38 | – | |
| 2025-Q2 | 6.8bn USD | – | – | – | 2.2bn USD | 33.1 % | 895m USD | 1.10 | – |
Sources
- 2025: 2025_10-K_Summary_2026-07-10.xlsx
- 2024: 2025_10-K_Summary_2026-07-10.xlsx
- 2023: 2025_10-K_Summary_2026-07-10.xlsx
- 2022: 2025_10-K_Summary_2026-07-10.xlsx
- 2026-Q2: yfinance
- 2026-Q1: yfinance
- 2025-Q4: yfinance
- 2025-Q3: yfinance
- 2025-Q2: yfinance
Latest quarter 2026-Q2, ended 2026-06-30, vs 2025-Q2
| 2026-Q2 | 2025-Q2 | change | |
|---|---|---|---|
| Revenue | 7.4bn USD | 6.8bn USD | +554m (+8 %) |
| Op. margin | 34.0 % | 33.1 % | +0.9 pts |
| FCF | 3.6bn USD | 3.1bn USD | +506m (+16 %) |
| Op. income | 2.5bn USD | ||
| Net income | 1.9bn USD | ||
| EPS (diluted) | 2.53 | 130.0 % |
Cash flow millions, USD
| Period | Cash from operations | Capex | Free cash flow | FCF margin % | CFO / net income % | NOPAT | Unlevered FCF | Levered FCF | Net change in cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | 9.4bn USD | 322m USD | 9.1bn USD | 33.8 % | 174.2 % | 7.0bn USD | 7.9bn USD | 7.8bn USD | 181m USD |
| 2024 | 8.3bn USD | 429m USD | 7.9bn USD | 33.3 % | 153.0 % | 6.1bn USD | 6.8bn USD | 11.4bn USD | 4.2bn USD |
| 2023 | 7.3bn USD | 345m USD | 7.0bn USD | 32.8 % | 171.2 % | 4.6bn USD | 6.6bn USD | 8.4bn USD | -79m USD |
| 2022 | 6.6bn USD | 368m USD | 6.2bn USD | 36.2 % | 214.3 % | 4.0bn USD | 6.0bn USD | 7.9bn USD | 1.1bn USD |
NOPAT = op. income × (1 − effective tax rate); UFCF = NOPAT + D&A + ΔNWC − capex; LFCF = FCF + net debt issued.
Quotes
| Price | 171.63 USD | 2026-09-15 | |
|---|---|---|---|
| Market cap | 129.0bn USD | 2026-09-15 | |
| 52w high | 225.00 USD | 2026-09-15 | |
| 52w low | 150.14 USD | 2026-09-15 | |
| Off 52w high % | -23.7 % | ||
| P/S | 4.8 | ||
| Lifetime CAGR | 11.3 % |
Notes
- 2025-08-01 opinion Highly profitable AirBnb competitor