Booking Holdings Inc. (BKNG) Financial Ratios
28 years of historical data (1998–2025) · Consumer Cyclical · Travel Services
EV/EBITDA
↓
13.45
↓-36% vs avg
5yr avg: 20.97
30Y Low10.9·High37.3
P/FCF
↓
14.65
↓-34% vs avg
5yr avg: 22.34
30Y Low12.1·High64.0
P/B Ratio
↑
N/A
—
5yr avg: 22.54
30Y Low2.0·High29.0
ROE
↑
N/A
—
5yr avg: 7554.3%
30Y Low-461%·High68%
Debt/EBITDA
↓
1.92
↓-21% vs avg
5yr avg: 2.44
30Y Low0.4·High6.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BKNG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Booking Holdings Inc. trades at 25.9x earnings, 36% below its 5-year average of 40.6x, sitting at the 45th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 23%. On a free-cash-flow basis, the stock trades at 14.6x P/FCF, 34% below the 5-year average of 22.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $133.1B | $174.8B | $169.2B | $129.6B | $80.7B | $99.2B | $91.7B | $89.4B | $82.7B | $86.8B | $73.4B |
| Enterprise Value | $135.2B | $176.9B | $170.2B | $132.3B | $81.5B | $99.4B | $93.5B | $92.1B | $88.7B | $93.8B | $78.4B |
| P/E Ratio → | 25.95 | 32.36 | 28.77 | 30.22 | 26.39 | 85.17 | 1557.52 | 18.37 | 20.69 | 37.08 | 34.37 |
| P/S Ratio | 4.95 | 6.49 | 7.13 | 6.07 | 4.72 | 9.06 | 13.49 | 5.93 | 5.69 | 6.85 | 6.83 |
| P/B Ratio | — | — | — | — | 29.01 | 16.06 | 18.74 | 15.06 | 9.41 | 7.71 | 7.45 |
| P/FCF | 14.65 | 19.24 | 21.44 | 18.51 | 13.05 | 39.44 | — | 19.87 | 16.89 | 19.85 | 20.07 |
| P/OCF | 14.15 | 18.58 | 20.33 | 17.64 | 12.32 | 35.19 | 1078.51 | 18.37 | 15.49 | 18.62 | 18.70 |
P/E links to full P/E history page with 30-year chart
BKNG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Booking Holdings Inc.'s enterprise value stands at 13.5x EBITDA, 36% below its 5-year average of 21.0x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 10% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.57 | 7.17 | 6.19 | 4.77 | 9.07 | 13.76 | 6.12 | 6.11 | 7.40 | 7.30 |
| EV / EBITDA | 13.45 | 17.60 | 20.49 | 20.35 | 14.28 | 32.11 | 8499.24 | 15.39 | 15.39 | 19.14 | 24.40 |
| EV / EBIT | 14.57 | 20.94 | 19.82 | 20.74 | 18.90 | 55.25 | 101.29 | 14.80 | 17.39 | 20.16 | 26.86 |
| EV / FCF | — | 19.47 | 21.56 | 18.90 | 13.18 | 39.50 | — | 20.49 | 18.12 | 21.44 | 21.46 |
BKNG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Booking Holdings Inc. earns an operating margin of 34.5%, significantly above the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from 27.3% to 34.5% over the past 3 years, signaling improving operational efficiency.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 98.1% | 96.1% |
| Operating Margin | 34.5% | 34.5% | 31.8% | 27.3% | 29.9% | 22.8% | -9.3% | 35.5% | 36.8% | 35.8% | 27.1% |
| Net Profit Margin | 20.1% | 20.1% | 24.8% | 20.1% | 17.9% | 10.6% | 0.9% | 32.3% | 27.5% | 18.5% | 19.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | 22573.7% | 68.3% | 21.0% | 1.1% | 66.1% | 39.9% | 22.2% | 22.9% |
| ROA | 19.0% | 19.0% | 22.6% | 17.3% | 12.5% | 5.1% | 0.3% | 22.1% | 16.6% | 10.3% | 11.5% |
| ROIC | — | — | — | 247.9% | 77.1% | 28.7% | -6.1% | 34.1% | 24.2% | 20.5% | 15.4% |
| ROCE | 75.4% | 75.4% | 65.5% | 41.8% | 29.8% | 13.9% | -3.7% | 30.4% | 26.0% | 23.3% | 17.6% |
BKNG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Booking Holdings Inc. carries a Debt/EBITDA ratio of 1.9x, which is manageable (60% below the sector average of 4.8x). Net debt stands at $2.1B ($19.3B total debt minus $17.2B cash). Interest coverage of 5.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 4.69 | 1.83 | 2.53 | 1.53 | 0.98 | 0.85 | 0.72 |
| Debt / EBITDA | 1.92 | 1.92 | 2.06 | 2.27 | 2.28 | 3.64 | 1125.45 | 1.52 | 1.50 | 1.94 | 2.22 |
| Net Debt / Equity | — | — | — | — | 0.29 | 0.02 | 0.37 | 0.47 | 0.69 | 0.62 | 0.51 |
| Net Debt / EBITDA | 0.21 | 0.21 | 0.11 | 0.41 | 0.14 | 0.05 | 165.27 | 0.46 | 1.04 | 1.42 | 1.57 |
| Debt / FCF | — | 0.23 | 0.12 | 0.38 | 0.13 | 0.06 | — | 0.62 | 1.23 | 1.60 | 1.38 |
| Interest Coverage | 5.23 | 5.23 | 6.63 | 7.11 | 11.03 | 5.39 | 2.59 | 23.40 | 18.97 | 18.32 | 14.04 |
BKNG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.33x means Booking Holdings Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.28x to 1.33x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.33 | 1.33 | 1.31 | 1.28 | 1.86 | 2.10 | 3.56 | 1.83 | 2.36 | 2.58 | 1.89 |
| Quick Ratio | 1.33 | 1.33 | 1.31 | 1.28 | 1.86 | 2.10 | 3.56 | 1.83 | 2.36 | 2.58 | 1.89 |
| Cash Ratio | 1.07 | 1.07 | 1.03 | 0.95 | 1.46 | 1.79 | 3.23 | 1.36 | 1.77 | 2.12 | 1.50 |
| Asset Turnover | — | 0.92 | 0.86 | 0.88 | 0.67 | 0.46 | 0.31 | 0.70 | 0.64 | 0.50 | 0.54 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 51.80 | 49.19 | 55.57 | 47.61 | 45.23 | 28.41 | 40.70 | 38.27 | 35.06 | 29.22 |
BKNG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Booking Holdings Inc. returns 5.7% to shareholders annually — split between a 0.9% dividend yield and 4.8% buyback yield. The payout ratio of 23.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 0.7% | 0.7% | — | — | — | — | — | — | — | — |
| Payout Ratio | 23.1% | 23.1% | 20.0% | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.9% | 3.1% | 3.5% | 3.3% | 3.8% | 1.2% | 0.1% | 5.4% | 4.8% | 2.7% | 2.9% |
| FCF Yield | 6.8% | 5.2% | 4.7% | 5.4% | 7.7% | 2.5% | — | 5.0% | 5.9% | 5.0% | 5.0% |
| Buyback Yield | 4.8% | 3.7% | 3.8% | 8.0% | 8.2% | 0.2% | 1.4% | 9.2% | 7.2% | 2.1% | 1.4% |
| Total Shareholder Yield | 5.7% | 4.4% | 4.5% | 8.0% | 8.2% | 0.2% | 1.4% | 9.2% | 7.2% | 2.1% | 1.4% |
| Shares Outstanding | — | $816M | $852M | $913M | $1.0B | $1.0B | $1.0B | $1.1B | $1.2B | $1.2B | $1.3B |
Peer Comparison
Compare BKNG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BKNGYou | $133B | 25.9 | 13.5 | 14.6 | 100.0% | 34.5% | — | — | 1.9 |
 EXPE | $28B | 24.6 | 9.7 | 9.1 | 84.1% | 13.4% | 48.4% | 40.2% | 2.3 |
 ABNB | $85B | 35.3 | 31.5 | 18.2 | 83.0% | 20.8% | 30.2% | 50.6% | 0.8 |
 TRIP | $2B | 41.8 | 9.9 | 9.3 | 62.0% | 4.2% | 5.0% | 7.4% | 7.2 |
 TCOM | $28B | 6.6 | 11.0 | 14.2 | 80.6% | 25.3% | 20.5% | 7.9% | 1.9 |
 MMYT | $4B | 99.4 | 29.8 | — | 55.9% | 14.7% | 9.0% | 12.4% | 7.7 |
 OPEN | $3B | -2.6 | — | 3.3 | 7.0% | -6.2% | -151.3% | -15.8% | — |
 MAR | $104B | 41.7 | 27.3 | 40.1 | 21.3% | 15.8% | — | 25.0% | 3.8 |
 HLT | $79B | 57.0 | 32.8 | 39.2 | 41.1% | 22.4% | — | 24.7% | 5.5 |
 DAL | $55B | 11.0 | 8.7 | 14.3 | 22.8% | 9.2% | 27.8% | 12.0% | 2.6 |
 UAL | $38B | 11.6 | 8.3 | 15.0 | 64.1% | 8.0% | 24.0% | 9.1% | 4.1 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
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Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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BKNG — Frequently Asked Questions
Quick answers to the most common questions about buying BKNG stock.
What is Booking Holdings Inc.'s P/E ratio?
Booking Holdings Inc.'s current P/E ratio is 25.9x. The historical average is 31.1x. This places it at the 45th percentile of its historical range.
What is Booking Holdings Inc.'s EV/EBITDA?
Booking Holdings Inc.'s current EV/EBITDA is 13.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.1x.
Is BKNG stock overvalued?
Based on historical data, Booking Holdings Inc. is trading at a P/E of 25.9x. This is at the 45th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Booking Holdings Inc.'s dividend yield?
Booking Holdings Inc.'s current dividend yield is 0.89% with a payout ratio of 23.1%.
What are Booking Holdings Inc.'s profit margins?
Booking Holdings Inc. has 100.0% gross margin and 34.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Booking Holdings Inc. have?
Booking Holdings Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.