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Earnings transcript
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BKNG
Booking Holdings Inc.
$160.87
-3.12
(-1.9%)
| Exchange: | NASDAQ |
| Market Cap: | 124.655B |
| Shares Outstanding: | 23.72M |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Travel Services | |||||
| CEO: | Glenn D. Fogel | |||||
| Full Time Employees: | 24500 | |||||
| Address: |
| |||||
| Website: | https://www.bookingholdings.com |
Booking Holdings Inc. is a leading global provider of online travel and dining reservation services. The company manages a portfolio of well-known digital platforms. Among these, Booking.com specializes in online accommodation bookings, while Rentalcars.com is dedicated to facilitating vehicle rentals. Priceline offers a comprehensive range of online travel booking options, encompassing hotels, flights, rental cars, vacation packages, and cruises, alongside hotel distribution services. Agoda also provides online lodging reservations, further expanding into flights, ground transportation, and activity bookings. For travelers seeking the best deals, KAYAK functions as an online price comparison service, enabling users to search and contrast prices for airline tickets, hotels, and car rentals. Additionally, OpenTable allows for convenient online restaurant reservations. Beyond its core booking services, Booking Holdings Inc. also supplies travel-related insurance products and restaurant management solutions to individual consumers, travel service providers, and restaurants. Established in 1997, the company is headquartered in Norwalk, Connecticut. It officially adopted its current name, Booking Holdings Inc., in February 2018, having previously operated as The Priceline Group Inc.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 21,365,000 | 23,739,000 | 26,917,000 |
| Gross Profit | 21,365,000 | 23,739,000 | 26,917,000 |
| EBITDA | 7,043,000 | 9,338,000 | 9,217,000 |
| Operating Income | 5,835,000 | 7,555,000 | 9,282,000 |
| Net Income | 4,289,000 | 5,882,000 | 5,404,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 24,342,000 | 27,708,000 | 29,264,000 |
| Total Liabilities | 27,086,000 | 31,728,000 | 34,842,000 |
| Total Stockholders Equity | -2,744,000 | -4,020,000 | -5,578,000 |
| Total Debt | 14,783,000 | 17,081,000 | 19,293,000 |
| Cash and Cash Equivalents | 12,107,000 | 16,164,000 | 17,203,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 7,344,000 | 8,323,000 | 9,409,000 |
| Capital Expenditure | -345,000 | -429,000 | -322,000 |
| Free Cash Flow | 6,999,000 | 7,894,000 | 9,087,000 |
| Net Income | 4,289,000 | 5,882,000 | 5,404,000 |
| Net Change in Cash | -116,000 | 4,058,000 | 1,076,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 39,244,672.402 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 40,911,713.055 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 40,059,200 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 19,193,481.859 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 20,008,785.251 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 19,591,844.737 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 15,385,665.589 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 16,240,611.556 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 15,803,395.831 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 25,408,628.907 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 26,487,940.179 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 25,935,987.863 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 19.370 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 19.900 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 18.860 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 9 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 5 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Booking Holdings reported strong financial results in Q2 2025, with significant revenue growth and improved net income as highlighted in the earnings call transcript. Key metrics such as gross profit margin and net profit margin (from Key Metrics TTM) indicate operational efficiency, positioning BKNG as a leader in profitability within the travel and leisure industry.
- Strong Cash Flow Generation: Data from the Cash Flow Statements shows consistent net cash provided by operating activities and positive free cash flow, reflecting BKNG’s ability to generate liquidity for reinvestment or shareholder returns. The free cash flow yield (from Key Metrics TTM) further underscores financial health.
- Market Leadership and Scale: As evident from the Company Profile, BKNG’s large market capitalization and global presence, supported by a substantial employee base and diversified revenue streams across geographic segments (Revenue Geo Segments), solidify its competitive position in the online travel booking sector.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates BKNG intrinsic value between $3,409.89 – $4,098.50 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about BKNG valuation
Is Booking Holdings Inc. (BKNG) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Booking Holdings Inc. (BKNG) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is BKNG a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether BKNG trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is BKNG’s P/E ratio?
You can see BKNG’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for BKNG?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is BKNG a good long-term investment?
Whether BKNG fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
BKNG
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
-1.9
Trading Metrics:
| Open: | 164.1 | Previous Close: | 163.99 | |
| Day Low: | 160.25 | Day High: | 164.1 | |
| Year Low: | 150.14 | Year High: | 233.58 | |
| Price Avg 50: | 169.76 | Price Avg 200: | 193.02 | |
| Volume: | 2.008M | Average Volume: | 7.852M |
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Login — it's freeBKNG full analysis
Welcome to MARKETSNAP’s SWOT analysis for Booking Holdings, the powerhouse behind some of the biggest names in online travel. You probably know them already as the parent company of Booking.com, Priceline, and Agoda, among others. Today, we’re diving deep into what makes this company tick, where it’s vulnerable, and what could drive its future growth. Whether you’re a long-term investor or just keeping an eye on the travel sector, stick around because we’ve got a lot to unpack with financials,…
