Booking Holdings

Consumer Discretionary Hotels, Resorts & Cruise Lines Norwalk, Connecticut Last filing Feb 18, 2026 · FY2025

                    Revenue
                    FY2025
                
$26.9B
                    3y CAGR +16.3%
                    
                    P87
                    
                    +13.4%
                    
                    Net income
                    FY2025
                
$5.4B
                    Net margin +20.1%
                    
                    P92
                    
                    -8.1%
                    
                    Total assets
                    FY2025
                
$29.3B
                    ROA +18.5%
                    
                    P86
                    
                    +5.6%
                    
                    Operating cash flow
                    FY2025
                
$9.4B
                    FCF margin +33.8%
                    
                    P100
                    
                    +13.0%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 5 years

Total assets $29.3B

Total liabilities $34.8B

Shareholders equity $-5.6B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	59.0%	58.4%	49.9%	48.3%	47.2%
Accounts Receivable	7.2%	7.2%	7.8%	5.9%	4.7%
Prepaid Expenses	2.1%	2.1%	2.6%	1.9%	1.7%
Other Current Assets	2.2%	2.0%	1.9%	2.7%	1.0%
Total Current Assets	76.1%	74.0%	70.0%	62.3%	55.6%
Property,Plant and Equipment	2.8%	3.0%	3.2%	2.6%	3.5%
Operating Lease Assets	2.2%	2.0%	2.9%	2.5%	2.1%
Goodwill	9.1%	10.1%	11.6%	11.1%	12.2%
Intangible Assets	3.1%	5.0%	6.6%	7.2%	8.7%
Long Term Investments	2.0%	1.9%	1.8%	11.0%	13.4%
Other Noncurrent Assets	4.8%	4.0%	3.9%	3.2%	4.5%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	17.4%	13.8%	14.3%	9.9%	6.7%
Accrued Liabilities	15.2%	21.8%	19.0%	12.8%	7.5%
Current Portion of Long Term Debt	6.4%	6.3%	8.1%	2.0%	8.4%
Other Current Liabilities	2.4%	0.7%	0.7%	0.7%	0.8%
Total Current Liabilities	57.1%	56.5%	54.8%	33.4%	26.4%
Long Term Debt	57.6%	53.6%	50.2%	47.3%	37.8%
Operating Lease Liabilities Noncurrent	1.9%	1.7%	2.5%	2.2%	1.5%
Deferred Tax Liabilities	0.0%	1.0%	1.1%	2.7%	3.8%
Other Noncurrent Liabilities	2.4%	0.7%	0.7%	0.7%	0.8%
Total Liabilities	119.1%	114.5%	111.3%	89.0%	73.9%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	28.6%	27.8%	29.5%	25.6%	26.1%
Retained Earnings	139.0%	131.8%	130.8%	108.6%	103.4%
Treasury Stock	185.6%	172.8%	170.2%	122.2%	102.7%
Accumulated Other Comprehensive Income	-1.0%	-1.4%	-1.3%	-1.1%	-0.6%
Total Stockholders Equity	-19.1%	-14.5%	-11.3%	11.0%	26.1%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $26.9B

Operating income $8.8B

Net income $5.4B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	92.0%	85.7%	87.8%	67.4%	46.4%
Expenses Selling,General and Administrative	2.9%	3.7%	6.4%	3.0%	2.2%
Expenses Depreciation and Amortization	2.1%	2.1%	2.1%	1.8%	1.8%
Expenses Share Based Compensation	2.1%	2.2%	2.2%	1.6%	1.6%
Expenses Operating Expenses	61.8%	58.4%	63.8%	47.3%	35.8%
Other Income Expense Operating Income	30.2%	27.3%	24.0%	20.1%	10.6%
Other Income Expense Other Income/expense	-4.4%	-0.3%	-2.0%	-4.0%	-2.9%
Other Income Expense Income Before Tax	23.3%	26.3%	22.5%	15.5%	6.2%
Income Tax Income Tax Expense	4.9%	5.1%	4.9%	3.4%	1.3%
net Income net Income	18.5%	21.2%	17.6%	12.1%	4.9%
net Income Comprehensive Income	18.8%	21.0%	17.4%	11.6%	4.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.1%	0.1%	0.1%	0.2%	0.2%
Earnings Per Share Weighted Average Shares Diluted	0.1%	0.1%	0.2%	0.2%	0.2%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 5 years

Operating cash flow $9.4B

Investing cash flow $-313.0M

Financing cash flow $-8.9B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	18.5%	21.2%	17.6%	12.1%	4.9%
Operating Activities Depreciation and Amortization	2.1%	2.1%	2.1%	1.8%	1.8%
Operating Activities Stock Based Compensation	2.1%	2.2%	2.2%	1.6%	1.6%
Operating Activities Deferred Income Taxes	-1.8%	0.4%	-2.0%	-1.0%	-1.9%
Operating Activities Changes In Operating Assets and Liabilities	2.2%	1.9%	4.8%	5.7%	4.2%
Operating Activities net Cash From Operating Activities	32.2%	30.0%	30.2%	25.8%	11.9%
Investing Activities Capital Expenditures	1.1%	1.5%	1.4%	1.5%	1.3%
Investing Activities Purchases of Investments	0.0%	0.1%	0.0%	3.0%	0.1%
Investing Activities Other Investing Activities	-0.0%	-0.0%	-0.0%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	-1.1%	0.5%	6.1%	-2.0%	-4.2%
Financing Activities Proceeds From Debt	12.6%	17.5%	7.8%	14.3%	8.5%
Financing Activities Repayment of Debt	17.0%	4.7%	2.1%	7.4%	13.0%
Financing Activities Repurchase of Common Stock	22.0%	23.5%	42.6%	26.1%	0.7%
Financing Activities Dividends Paid	4.3%	4.2%	0.0%	0.0%	—
Financing Activities Proceeds From Stock Issuance	0.1%	0.1%	0.6%	0.0%	0.0%
Financing Activities Tax Withholding On Stock Based Compensation	1.8%	1.2%	0.8%	0.7%	0.7%
Financing Activities Other Financing Activities	0.2%	-0.2%	-0.2%	-0.1%	-0.1%
Financing Activities net Cash From Financing Activities	-30.5%	-15.2%	-36.6%	-19.3%	-5.2%
Cash Reconciliation Effect of Exchange Rate On Cash	3.1%	-0.7%	-0.2%	-0.2%	-0.1%
Cash Reconciliation net Change In Cash	3.7%	14.6%	-0.5%	4.3%	2.4%
Cash Reconciliation Cash At Beginning of Period	59.0%	58.4%	49.9%	48.3%	47.2%
Cash Reconciliation Cash At End of Period	59.0%	58.4%	49.9%	48.3%	47.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	+32.8%	+31.8%	+27.3%	+29.9%	+22.8%
Net margin	+20.1%	+24.8%	+20.1%	+17.9%	+10.6%
FCF margin	+33.8%	+33.3%	+32.8%	+36.2%	+23.0%
Growth
Revenue CAGR (3y)	+16.3%	+29.4%	+46.5%	+4.3%	-9.0%
Returns
ROE	-96.9%	-146.3%	-156.3%	+109.9%	+18.9%
ROA	+18.5%	+21.2%	+17.6%	+12.1%	+4.9%
ROIC	-169.8%	-168.6%	-657.0%	+131.9%	+33.3%
Liquidity
Current ratio	1.33x	1.31x	1.28x	1.86x	2.10x
Quick ratio	1.16x	1.16x	1.05x	1.62x	1.96x
Leverage
D/E	-6.25x	-7.89x	-9.87x	8.12x	2.83x
Interest coverage	—	—	6.51x	13.05x	7.47x
Efficiency
Asset turnover	0.92x	0.86x	0.88x	0.67x	0.46x
Cash conversion cycle	—	—	—	—	—

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Booking Holdings

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