Booking Holdings Inc.BKNG
NasdaqGS•Consumer Cyclical•Travel Services
Booking Holdings Inc., together with its subsidiaries, provides online and traditional travel and restaurant reservations and related services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates Booking.com, which offers online accommodation reservations; and Priceline, which provides discount travel reservations services, as well as online accommodation, flight, rental car reservation services, vacation packages, cruises, activity, and affiliate programs. It also operates Agoda that offers online accommodation reservation, flight, ground transportation, and attractions. In addition, the company operates KAYAK, an online meta-search service that allows consumers to search and compare travel itineraries and prices; and OpenTable for booking online restaurant reservations, as well as reservation management services to restaurants. Further, it offers travel-related insurance products, payment facilitation, and restaurant management services to consumers, travel service providers, and restaurants; and advertising services. The company was formerly known as The Priceline Group Inc. and changed its name to Booking Holdings Inc. in February 2018. Booking Holdings Inc. was founded in 1997 and is headquartered in Norwalk, Connecticut.
Booking Holdings Inc. Common St (BKNG) reported trailing twelve months revenue of $27.69B as of March 2026, a 15.0% increase year-over-year. Quarterly revenue reached $5.53B, reflecting continued top-line momentum.
Booking Holdings Inc. Common St generated $6.15B in TTM net income, with quarterly EBITDA of $1.40B. The operating margin expanded from 22.3% to 23.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (23.0%) and net margin (19.6%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 7.0% a year ago, signaling stronger bottom-line efficiency.
BKNG trades at a P/E of 21.1x (in line with broad market averages) and a P/S of 4.7x.
The company generated $3.11B in free cash flow over the trailing twelve months, a 1.7% decrease year-over-year, indicating cash generation ability. The balance sheet shows $27.72B in total assets with $15.40B in long-term debt against $-8.72B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~31.5%, suggesting durable pricing power and cost discipline.
Limited ROE data for a reliable assessment.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~23.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~31.7% — no sign of cost or pricing stress.
FCF covers net income by 2.6x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 6.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation