Fundamental analysis · SEC EDGAR · as of 31/12/2025

Fundamental analysis of Booking Holdings Inc.

BKNG · Nasdaq · Industrial

Fundamental quality

EXCELLENT

92

out of 100

Booking Holdings Inc. grows profitably: it increases revenue at double digits (30.7% a year) without giving up profitability (net margin 19.5%). On fundamental quality it scores 92 out of 100, profiling it as a company with solid fundamentals. Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

Booking Holdings is the world's largest online travel group, owner of Booking.com, Priceline, Kayak and OpenTable. It connects travelers with hotels, flights and rentals, taking a commission on each booking, without owning the hotels.

What will shape its future

  • The health of tourism and travel spending, highly sensitive to the economic cycle.
  • The network effects of its platform and its huge marketing spend to attract bookings.
  • Competition from Airbnb, Expedia and the hotel chains themselves (direct booking).

Breakdown by area

I.Growth
95

EPS growth: 46.8% · Revenue growth: 30.7%

II.Profitability
86

Net margin: 19.5%

III.Financial health
95

Net debt/EBITDA: 0.25x · FCF: 32.6%

Source: SEC EDGAR · as of 31/12/2025

The score combines growth, profitability and financial strength, and here its pillars hold up evenly.

Versus its sector

Percentile against the other 69 Industrial companies in our coverage: how far it beats them on each metric (100 = best in sector).

Net marginbeats 86%
Growthbeats 90%
Cash generationbeats 98%
Less debtbeats 87%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

Booking Holdings Inc. strengths

  • Excellent free-cash-flow generation (FCF margin of 32.6%): profit turns into real cash.
  • Growing earnings per share (46.8% annualized).
  • Revenue growing strongly (30.7% annualized).
  • High net margin (19.5%), high even for its sector: the business is clearly profitable.

Booking Holdings Inc. risks and weaknesses

  • Shrinking margins: net margin has fallen from 28% to 20% in recent years.

Booking Holdings Inc. historical evolution

YearRevenueNet incomeFree cash flowNet debt
20159,2242,5514,681
202110,9581,1652,516-201
202217,0903,0586,186264
202321,3654,2896,9992,077
202423,7395,8827,894434
202526,9175,4049,0871,533

Between 2015 and 2025, revenue went from $9,224M to $26,917M (+192%) and net income went from $2,551M to $5,404M (+112%). Meanwhile, its margins have narrowed (from 28% to 20%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the quarter ended March 31, 2026, versus the quarter ended March 31, 2025 (SEC filings):

  • Revenue+16.2%

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$9.6

per share, yearly

23.1% of earnings

Payout

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is Booking Holdings Inc. cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

Compute the valuation →

Frequently asked questions

Is Booking Holdings Inc. a good company to invest in?

In terms of business quality, Booking Holdings Inc. scores 92 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is Booking Holdings Inc. a profitable company?

Yes. Booking Holdings Inc. shows a net margin of 19.5%, a sign of a profitable business.

Does Booking Holdings Inc. have a lot of debt?

Not particularly. Its net debt is 0.25 times its EBITDA, a low level.

Is Booking Holdings Inc. growing?

Its revenue has grown 30.7% annualized in recent years and its earnings per share 46.8%, and without interruption since 2015.

Does Booking Holdings Inc. generate cash?

Yes. It converts about 32.6% of its revenue into free cash flow, and has done so positively year after year.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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