Booking Holdings (BKNG)
NASDAQ:BKNG
Want to see BKNG full AI Analyst Report?
Top Page
Booking Holdings
(NASDAQ:BKNG)
Select Model
Select Model
Rating:66Neutral
Price Target:
$183.00
▼(-4.69% Downside)
Action:Reiterated
Date:06/03/26
BKNG scores in the mid-60s primarily due to strong profitability and large free cash flow, tempered by elevated leverage and negative equity. Earnings-call guidance remains constructive despite geopolitical headwinds, while technical indicators are mixed with a weaker intermediate-term trend. Valuation appears reasonable but not a strong catalyst at the current P/E and low dividend yield.
Positive Factors
Strong cash generation
Sustained high operating and free cash flow provide durable funding for investment, buybacks and debt servicing. With FCF roughly in line with earnings, the company can support strategic initiatives and capital returns even through cyclical travel downturns, underpinning financial resilience.
Negative Factors
Elevated leverage and negative equity
High debt and negative equity materially constrain financial flexibility and raise refinancing and covenant risk if travel demand weakens. Elevated leverage reduces capacity for opportunistic M&A or large buybacks and magnifies earnings volatility during economic slowdowns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained high operating and free cash flow provide durable funding for investment, buybacks and debt servicing. With FCF roughly in line with earnings, the company can support strategic initiatives and capital returns even through cyclical travel downturns, underpinning financial resilience.
Read all positive factors
Booking Holdings Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue across different business segments, revealing which areas are driving growth and where there may be potential risks or opportunities.
Breaks down revenue across different business segments, revealing which areas are driving growth and where there may be potential risks or opportunities.
Data provided by:
The Fly
The FlyBooking Holdings (BKNG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$133.11B
Dividend Yield0.71%
Average Volume (3M)7.38M
Price to Earnings (P/E)22.1
Beta (1Y)1.12
Revenue Growth14.95%
EPS Growth17.45%
CountryUS
Employees24,500
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)7.63
Shares Outstanding774,878,400
10 Day Avg. Volume7,451,878
30 Day Avg. Volume7,378,731
Financial Highlights & Ratios
PEG Ratio-6.65
Price to Book (P/B)-31.16
Price to Sales (P/S)6.46
P/FCF Ratio19.12
Enterprise Value/Market Cap1.02
Enterprise Value/Revenue4.91
Enterprise Value/Gross Profit4.91
Enterprise Value/Ebitda14.29
Forecast
1Y Price Target
$220.15Price Target Upside14.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering28
EPS Forecast (FY)10.46
Revenue Forecast (FY)$29.41B
Booking Holdings Business Overview & Revenue Model
Company Description
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 Rent...
How the Company Makes Money
Booking Holdings primarily makes money by earning fees and commissions on travel transactions facilitated through its platforms, with accommodations historically representing the largest portion of its business. For lodging reservations, it genera...
Booking Holdings Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented a broadly positive operational and financial performance: robust top-line growth, strong adjusted EBITDA expansion, record share repurchases, progress on Connected Trip and AI initiatives, and continued U.S. and Asia momentum. However, material near-term headwinds from the Middle East conflict (elevated cancellations, transit disruptions), some marketing deleverage, and guidance uncertainty temper the outlook. On balance the company demonstrated resilience and clear strategic progress while actively managing costs and capital allocation amid geopolitical volatility.Positive Updates
Strong Room Night Growth Despite Headwinds
Booked 338 million room nights in Q1, up 6% year-over-year (estimated ~8% ex-Middle East conflict impact of ~2 percentage points). U.S. room-night growth accelerated to the low teens for the fourth consecutive quarter; Asia room-night growth in the high single digits with intra-Asia travel in the low double digits.
Negative Updates
Middle East Conflict Impact
Management estimates the Middle East conflict reduced room-night and gross-bookings growth by ~2 percentage points in Q1 and assumed ~3 percentage points of headwind in Q2 guidance. March room-night growth slowed to 1% with an estimated ~6 percentage-point impact that month driven equally by reduced bookings and elevated cancellations.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Room Night Growth Despite Headwinds
Booked 338 million room nights in Q1, up 6% year-over-year (estimated ~8% ex-Middle East conflict impact of ~2 percentage points). U.S. room-night growth accelerated to the low teens for the fourth consecutive quarter; Asia room-night growth in the high single digits with intra-Asia travel in the low double digits.
Read all positive updates
Company Guidance
Booking guided that its planning assumes the direct and indirect impact from the Middle East conflict continues through the end of June (they estimate roughly a ~3‑point headwind in Q2), and for Q2 they expect room nights to grow 2–4% and gross bookings, revenue and adjusted EBITDA each to grow 4–6% (assuming recent FX, including EUR/USD $1.16, which they estimate will add ~2 percentage points to Q2 reported growth). For the full year 2026 the company expects gross bookings to be up high‑single‑digits to low‑double‑digits, revenue up high‑single‑digits, adjusted EBITDA to grow slightly faster than revenue with adjusted EBITDA margins expanding 0–25 basis points, and adjusted EPS to be up low‑to‑mid‑teens; they also estimate FX will boost full‑year reported growth by roughly +2 ppts (gross bookings), +1.5 ppts (revenue) and +1 ppt (adjusted EBITDA and adjusted EPS). Management reiterated that the Q2 guidance assumes impacts through June followed by a second‑half recovery and reaffirmed a longer‑term constant‑currency ambition of at least 8% gross bookings growth, 8% revenue growth and 15% adjusted EPS growth.Booking Holdings Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
38
Negative
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.69B | 26.92B | 23.74B | 21.36B | 17.09B | 10.96B |
| Gross Profit | 27.69B | 26.92B | 23.74B | 21.36B | 17.09B | 10.96B |
| EBITDA | 9.51B | 9.22B | 9.34B | 7.04B | 4.92B | 2.40B |
| Net Income | 6.15B | 5.40B | 5.88B | 4.29B | 3.06B | 1.17B |
Balance Sheet | ||||||
| Total Assets | 27.72B | 29.26B | 27.71B | 24.34B | 25.36B | 23.64B |
| Cash, Cash Equivalents and Short-Term Investments | 16.02B | 17.79B | 16.16B | 12.68B | 12.43B | 11.15B |
| Total Debt | 18.94B | 19.29B | 17.08B | 14.78B | 13.04B | 11.28B |
| Total Liabilities | 36.44B | 34.84B | 31.73B | 27.09B | 22.58B | 17.46B |
| Stockholders Equity | -8.72B | -5.58B | -4.02B | -2.74B | 2.78B | 6.18B |
Cash Flow | ||||||
| Free Cash Flow | 9.03B | 9.09B | 7.89B | 7.00B | 6.19B | 2.52B |
| Operating Cash Flow | 9.34B | 9.41B | 8.32B | 7.34B | 6.55B | 2.82B |
| Investing Cash Flow | -302.00M | -313.00M | 129.00M | 1.49B | -518.00M | -998.00M |
| Financing Cash Flow | -8.97B | -8.91B | -4.20B | -8.91B | -4.90B | -1.24B |
Booking Holdings Technical Analysis
Positive
192.01
Price Trends
169.13
Positive
171.48
Positive
189.83
Negative
Market Momentum
1.44
Negative
56.50
Neutral
79.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKNG, the sentiment is Positive. The current price of 192.01 is above the 20-day moving average (MA) of 166.46, above the 50-day MA of 169.13, and above the 200-day MA of 189.83, indicating a neutral trend. The MACD of 1.44 indicates Negative momentum. The RSI at 56.50 is Neutral, neither overbought nor oversold. The STOCH value of 79.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BKNG.
Booking Holdings Risk Analysis
Booking Holdings disclosed 30 risk factors in its most recent earnings report. Booking Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Booking Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $85.83B | 33.83 | 31.24% | ― | 13.18% | 2.35% | |
67 Neutral | $28.91B | 19.72 | 147.58% | 0.56% | 10.01% | 33.63% | |
66 Neutral | $30.20B | 6.51 | 21.02% | 0.39% | 17.27% | 94.65% | |
66 Neutral | $133.11B | 22.05 | -95.80% | 0.71% | 14.95% | 17.45% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $1.51B | 80.44 | 2.86% | ― | 2.03% | -64.68% | |
55 Neutral | $4.43B | 87.59 | -38.21% | ― | 6.71% | -41.74% |
* Consumer Cyclical Sector Average
BKNG
Booking Holdings
171.78
-38.60
-18.35%
TCOM
Trip.com Group Sponsored ADR
45.10
-10.75
-19.25%
EXPE
Expedia
240.90
77.31
47.26%
MMYT
Makemytrip
46.72
-44.93
-49.02%
TRIP
TripAdvisor
12.97
>-0.01
-0.04%
ABNB
Airbnb
142.41
10.68
8.11%
Booking Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Booking Holdings Shareholders Back Board, Pay and Auditor
Positive
Jun 2, 2026
Booking Holdings held its 2026 Annual Meeting of Stockholders virtually on June 2, 2026, at which shareholders re-elected all nominated directors to the board and approved an advisory vote on 2025 executive compensation. Investors also ratified De...
Private Placements and Financing
Booking Holdings Issues €1.9 Billion Senior Euro Notes
Neutral
May 11, 2026
On May 11, 2026, Booking Holdings Inc. executed officers’ certificates under its existing indenture to issue €1.9 billion of senior unsecured notes, comprising €600 million of 3.500% notes due 2030, €700 million of 4.000% n...
Business Operations and StrategyPrivate Placements and Financing
Booking Holdings Prices $750 Million Senior Notes Offering
Positive
May 7, 2026
On May 7, 2026, Booking Holdings Inc. issued $750 million of 5.375% senior unsecured notes due May 7, 2036, under its existing indenture with U.S. Bank Trust Company as trustee, strengthening its long-term funding profile. The notes pay semi-annua...
Business Operations and StrategyRegulatory Filings and ComplianceStock Split
Booking Holdings enacts 25-for-1 stock split, ups shares
Positive
Apr 2, 2026
On April 2, 2026, Booking Holdings Inc. implemented a previously announced twenty-five-for-one forward stock split of its common stock by filing an amendment to its Restated Certificate of Incorporation with the Delaware Secretary of State. The mo...
Executive/Board Changes
Booking Holdings Appoints New Chief Accounting Officer
Positive
Apr 2, 2026
On April 2, 2026, Booking Holdings Inc. announced the appointment of Caroline Sullivan as Senior Vice President, Chief Accounting Officer and Controller, effective April 29, 2026, bringing extensive experience from Elevance Health, Moody’s, ...
Business Operations and StrategyExecutive/Board Changes
Booking Holdings Adds Kurt Sievers to Board of Directors
Positive
Apr 1, 2026
On April 1, 2026, Booking Holdings appointed Kurt Sievers, retired president and CEO of NXP Semiconductors, to its Board of Directors and its Corporate Governance Committee, bringing deep experience in technology, mobility and global consumer mark...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.