Booking Holdings Inc. (BKNG) Key Metrics
BKNG valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $122.81B
- Enterprise value
- $126.87B
- P/E (TTM)
- 18.1 10-yr median 30.2
- Forward P/E
- 13.3
- PEG ratio
- 0.61
- Price / sales
- 4.3 10-yr median 6.7
- Price / book
- 35.0 10-yr median 15.1
- EV / EBITDA
- 11.4 10-yr median 18.5
- Dividend yield
- 1.03% $1.68 a year
- Beta
- 1.13
BKNG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBKNG valuation Price multiples at each fiscal year-end price.
BKNG returns How much profit the business earns on the capital it uses.
BKNG per-share figures Results divided by the shares outstanding at year-end.
BKNG financial health Debt, liquidity and how easily interest is covered.
BKNG efficiency & capital use Working capital cycle and where the cash goes.
BKNG valuation history
BKNG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BKNG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BKNG cash returned to shareholders
BKNG price vs earnings per share
BKNG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $174.79B | $169.24B | $129.58B | $80.72B | $99.24B | $91.67B | $89.36B | $82.71B | $86.81B | $73.40B |
| Enterprise value | $176.30B | $170.16B | $131.68B | $81.33B | $99.36B | $92.99B | $91.14B | $85.10B | $88.93B | $76.26B |
| P/E ratio | 32.3 | 28.8 | 30.2 | 26.4 | 85.2 | — | 18.4 | 20.7 | 37.1 | 34.4 |
| Price / sales | 6.5 | 7.1 | 6.1 | 4.7 | 9.1 | 13.5 | 5.9 | 5.7 | 6.8 | 6.8 |
| Price / book | — | — | — | 29.0 | 16.1 | 18.7 | 15.1 | 9.4 | 7.7 | 7.5 |
| Price / free cash flow | 19.2 | 21.4 | 18.5 | 13.0 | 39.4 | — | 19.9 | 16.9 | 19.8 | 20.1 |
| Price / operating cash flow | 18.6 | 20.3 | 17.6 | 12.3 | 35.2 | — | 18.4 | 15.5 | 18.6 | 18.7 |
| EV / sales | 6.5 | 7.2 | 6.2 | 4.8 | 9.1 | 13.7 | 6.0 | 5.9 | 7.0 | 7.1 |
| EV / EBITDA | 19.1 | 18.2 | 18.7 | 16.5 | 41.4 | 59.4 | 13.3 | 15.4 | 17.7 | 23.6 |
| EV / free cash flow | 19.4 | 21.6 | 18.8 | 13.1 | 39.5 | — | 20.3 | 17.4 | 20.3 | 20.9 |
| Earnings yield | 3.1% | 3.5% | 3.3% | 3.8% | 1.2% | 0.1% | 5.4% | 4.8% | 2.7% | 2.9% |
| Free cash flow yield | 5.2% | 4.7% | 5.4% | 7.7% | 2.5% | −0.2% | 5.0% | 5.9% | 5.0% | 5.0% |
| Dividend yield | 0.7% | 0.7% | 2.2% | 0.0% | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 4.4% | 4.5% | 10.2% | 8.2% | 0.2% | 1.4% | 9.2% | 7.2% | 2.1% | 1.4% |
| Share price at fiscal year-end | $214.21 | $198.74 | $141.89 | $80.61 | $95.97 | $89.09 | $82.15 | $68.90 | $69.51 | $58.64 |
| Per share | ||||||||||
| Revenue per share | $32.99 | $27.88 | $23.39 | $17.07 | $10.60 | $6.60 | $13.85 | $12.10 | $10.15 | $8.58 |
| Earnings per share | $6.62 | $6.91 | $4.70 | $3.05 | $1.13 | $0.06 | $4.47 | $3.33 | $1.87 | $1.71 |
| Operating cash flow per share | $11.53 | $9.77 | $8.04 | $6.55 | $2.73 | $0.08 | $4.47 | $4.45 | $3.73 | $3.14 |
| Free cash flow per share | $11.14 | $9.27 | $7.66 | $6.18 | $2.43 | −$0.20 | $4.13 | $4.08 | $3.50 | $2.92 |
| Cash per share | $21.80 | $18.98 | $13.89 | $12.41 | $10.78 | $10.75 | $6.72 | $5.23 | $5.93 | $3.44 |
| Book value per share | −$6.84 | −$4.72 | −$3.00 | $2.78 | $5.97 | $4.76 | $5.45 | $7.32 | $9.02 | $7.87 |
| Tangible book value per share | −$11.23 | −$9.63 | −$7.87 | −$1.85 | $1.19 | $1.15 | $0.98 | $3.12 | $5.08 | $4.36 |
| Dividends per share | $1.53 | $1.38 | $3.05 | $0.00 | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.39 | $0.50 | $0.38 | $0.37 | $0.29 | $0.28 | $0.34 | $0.37 | $0.23 | $0.21 |
| Debt per share | $23.64 | $20.06 | $16.19 | $13.02 | $10.91 | $12.03 | $8.36 | $7.23 | $7.63 | $5.73 |
| Shares outstanding | 816.0M | 851.6M | 913.2M | 1.00B | 1.03B | 1.03B | 1.09B | 1.20B | 1.25B | 1.25B |
| Change in shares outstanding | −4.2% | −6.8% | −8.8% | −3.2% | +0.5% | −5.4% | −9.4% | −3.9% | −0.2% | −3.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | 68.3% | 21.0% | 1.1% | 66.1% | 39.9% | 22.2% | 22.9% |
| Return on invested capital (ROIC) | — | — | — | 82.0% | 31.7% | −4.5% | 46.2% | 36.0% | 18.5% | 18.3% |
| Return on assets (ROA) | 19.0% | 22.6% | 17.3% | 12.5% | 5.1% | 0.3% | 22.1% | 16.6% | 10.3% | 11.5% |
| Return on tangible assets | 21.0% | 25.0% | 21.5% | 14.8% | 6.2% | 0.3% | 29.4% | 22.6% | 11.4% | 13.8% |
| Free cash flow margin | 33.8% | 33.3% | 32.8% | 36.2% | 23.0% | −3.0% | 29.8% | 33.7% | 34.5% | 34.0% |
| Income quality (OCF / net income) | 1.74 | 1.41 | 1.71 | 2.14 | 2.42 | 1.44 | 1.00 | 1.34 | 1.99 | 1.84 |
| Financial health | ||||||||||
| Total debt | $19.29B | $17.08B | $14.78B | $13.04B | $11.28B | $12.38B | $9.09B | $8.67B | $9.52B | $7.17B |
| Cash & short-term investments | $17.79B | $16.16B | $12.68B | $12.43B | $11.15B | $11.06B | $7.31B | $6.28B | $7.40B | $4.30B |
| Net debt | $1.51B | $917.0M | $2.10B | $611.0M | $125.0M | $1.32B | $1.78B | $2.39B | $2.12B | $2.87B |
| Debt / equity | — | — | — | 4.69 | 1.83 | 2.53 | 1.53 | 0.99 | 0.85 | 0.73 |
| Debt / assets | 0.66 | 0.62 | 0.61 | 0.51 | 0.48 | 0.57 | 0.42 | 0.38 | 0.37 | 0.36 |
| Net debt / EBITDA | 0.16 | 0.10 | 0.30 | 0.12 | 0.05 | 0.84 | 0.26 | 0.43 | 0.42 | 0.89 |
| Current ratio | 1.33 | 1.31 | 1.28 | 1.86 | 2.10 | 3.56 | 1.83 | 2.36 | 2.58 | 1.89 |
| Quick ratio | 1.33 | 1.31 | 1.33 | 1.81 | 2.04 | 3.47 | 1.83 | 2.36 | 2.58 | 1.89 |
| Interest coverage | 5.7 | 5.8 | 6.5 | 13.0 | 7.5 | -1.8 | 20.1 | 19.9 | 17.9 | 14.0 |
| Working capital | $5.57B | $4.84B | $3.70B | $7.32B | $6.90B | $8.78B | $4.47B | $4.85B | $5.54B | $2.54B |
| Invested capital | −$4.07B | −$3.10B | −$644.0M | $3.39B | $6.30B | $6.21B | $7.71B | $11.18B | $13.39B | $12.72B |
| Tangible asset value | −$9.16B | −$8.20B | −$7.18B | −$1.85B | $1.23B | $1.19B | $1.07B | $3.75B | $6.35B | $5.46B |
| Net current asset value | −$12.58B | −$11.24B | −$10.05B | −$6.78B | −$4.32B | −$4.78B | −$5.64B | −$5.50B | −$5.15B | −$4.59B |
| Graham number | — | — | — | $13.82 | $12.31 | $2.48 | $23.43 | $23.42 | $19.50 | $17.38 |
| Graham net-net per share | −$17.39 | −$15.46 | −$13.45 | −$8.23 | −$4.92 | −$5.20 | −$6.34 | −$5.39 | −$4.70 | −$4.03 |
| Capital allocation | ||||||||||
| Dividends paid | $1.25B | $1.17B | $2.79B | $0 | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $6.44B | $6.51B | $10.38B | $6.62B | $163.0M | $1.30B | $8.19B | $5.97B | $1.83B | $1.01B |
| Dividend payout ratio | 23.1% | 20.0% | 65.0% | 0.0% | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 84.6% | 97.3% | 188.1% | 107.0% | 6.5% | — | 182.1% | 122.0% | 41.8% | 27.7% |
| Capex / revenue | 1.2% | 1.8% | 1.6% | 2.2% | 2.8% | 4.2% | 2.4% | 3.0% | 2.3% | 2.5% |
| Capex / operating cash flow | 3.4% | 5.2% | 4.7% | 5.6% | 10.8% | 336.5% | 7.6% | 8.3% | 6.2% | 6.8% |
| Capex / depreciation | 0.42 | 0.57 | 0.52 | 0.61 | 0.51 | 0.45 | 0.57 | 1.04 | 0.79 | 0.87 |
| Stock-based compensation / revenue | 2.3% | 2.5% | 2.5% | 2.4% | 3.4% | 3.8% | 2.2% | 2.3% | 2.1% | 2.3% |
| R&D / revenue | — | — | — | — | — | — | 1.9% | 1.6% | 1.5% | 1.3% |
| SG&A / revenue | 59.1% | 62.3% | 67.3% | 65.6% | 69.5% | 80.3% | 59.5% | 58.7% | 58.0% | 56.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 47.6 | 49.6 | 46.8 | 38.3 | 31.4 | 59.3 | 38.8 | 34.4 | 29.9 | 25.6 |
| Days of inventory on hand | — | — | -45.8 | 264.9 | 225.8 | 191.6 | — | — | — | — |
| Days payables outstanding | 2,119.2 | 1,749.2 | 1,614.0 | 1,230.6 | 707.1 | 561.1 | 675.6 | 771.8 | 819.5 | 326.3 |
| Cash conversion cycle (days) | -2,071.6 | -1,699.6 | -1,613.0 | -927.4 | -450.0 | -310.2 | -636.8 | -737.3 | -789.6 | -300.7 |
| Receivables turnover | 7.67 | 7.36 | 7.79 | 9.53 | 11.61 | 6.15 | 9.41 | 10.60 | 12.21 | 14.27 |
| Payables turnover | 0.17 | 0.21 | 0.23 | 0.30 | 0.52 | 0.65 | 0.54 | 0.47 | 0.45 | 1.12 |
| Inventory turnover | — | — | — | 1.38 | 1.62 | 1.91 | — | — | — | — |
| Asset turnover | 0.94 | 0.91 | 0.86 | 0.70 | 0.48 | 0.31 | 0.68 | 0.60 | 0.56 | 0.58 |
| Average receivables | $3.51B | $3.23B | $2.74B | $1.79B | $943.5M | $1.10B | $1.60B | $1.37B | $1.04B | $752.6M |
| Average payables | $4.46B | $3.60B | $2.94B | $2.05B | $1.16B | $987.0M | $1.19B | $900.8M | $543.3M | $371.0M |
| Average inventory | — | — | −$83.5M | $440.5M | $370.5M | $337.0M | — | — | $0 | $0 |
| Intangibles / total assets | 12.3% | 15.1% | 18.2% | 18.3% | 20.9% | 16.9% | 22.7% | 22.2% | 19.3% | 22.1% |
Computed from BKNG's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BKNG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Booking Holdings traded at 32.3 times earnings, against a 10-year median of 30.2. Based on the latest twelve months, the trailing P/E is 18.1 and the forward P/E is 13.3. It ended the year with $19.3 billion of debt and $17.8 billion in cash and short-term investments, net debt of $1.5 billion. It returned $7.7 billion to shareholders: $1.2 billion in dividends and $6.4 billion in share buybacks, 85% of free cash flow. The share count fell 34.8% from 1.25B to 816.0M over 9 years.
See the BKNG income statement, the BKNG chart for price history, or the BKNG stock overview for the latest quote and news.
BKNG key metrics FAQ
What is Booking Holdings's P/E ratio?
Booking Holdings's trailing P/E ratio is 18.1 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 13.3. At the end of fiscal 2025 it was 32.3, compared with a 10-year median of 30.2.
What is Booking Holdings's EV/EBITDA?
Booking Holdings's enterprise value was 19.1 times EBITDA at the end of fiscal 2025 (enterprise value $176.3 billion, EBITDA $9.2 billion); the current EV/EBITDA is 11.4.
How much debt does Booking Holdings have?
Booking Holdings had total debt of $19.3 billion at the end of fiscal 2025 and $1.5 billion of net debt (0.16 times EBITDA).
What is Booking Holdings's dividend yield?
Booking Holdings's forward dividend yield is 1.03%. Booking Holdings paid $1.2 billion in dividends in fiscal 2025 ($1.53 per share), a payout ratio of 23.1%.
Does Booking Holdings buy back its shares?
Yes. Booking Holdings spent $6.4 billion on net share repurchases in fiscal 2025 Shares outstanding changed −4.2% over the year, to 816.0M..
What is Booking Holdings's free cash flow yield?
Booking Holdings generated $9.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 5.2% on its market value at year-end ($174.8 billion).
What is Booking Holdings's current ratio?
Booking Holdings's current ratio was 1.33 at the end of fiscal 2025: current assets were 1.33 times current liabilities.