Financials Booking Holdings Inc.

Equities

BKNG

US09857L1089

Leisure & Recreation

Real-time Estimate Cboe BZX Other stock markets 10:06:27 2025-01-21 EST			5-day change	1st Jan Change
4,808.92 ^USD	-2.39%		+1.46%	-2.41%

01-17	B. Riley Cuts Price Target on Booking Holdings to $5,700 From $5,800, Keeps Buy Rating	MT
01-16	Wells Fargo Adjusts Price Target on Booking Holdings to $4,470 From $4,657, Maintains Equalweight Rating	MT

Projected Income Statement: Booking Holdings Inc.

income-statement-evolution-chart BOOKING-HOLDINGS-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	15,066	6,796	10,958	17,090	21,365	23,433	25,349	27,622
Change	-	-54.89%	61.24%	55.96%	25.01%	9.68%	8.18%	8.97%
EBITDA ¹	5,855	879	2,904	5,295	7,112	8,099	9,076	10,191
Change	-	-84.99%	230.38%	82.33%	34.32%	13.88%	12.06%	12.29%
EBIT ¹	5,345	-631	2,496	5,102	5,835	7,355	8,314	9,424
Change	-	-	-	104.41%	14.37%	26.05%	13.04%	13.35%
Interest Paid ¹	-266	-356	-334	-391	-897	-1,052	-1,004	-1,005
Earnings before Tax (EBT) ¹	5,958	567	1,465	3,923	5,481	7,301	8,416	9,436
Change	-	-90.48%	158.38%	167.78%	39.71%	33.21%	15.28%	12.11%
Net income ¹	4,865	59	1,165	3,058	4,289	6,046	6,736	7,543
Change	-	-98.79%	1,874.58%	162.49%	40.26%	40.97%	11.42%	11.97%
Announcement Date	2/26/20	2/24/21	2/23/22	2/23/23	2/22/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	3,339	2,288	630	2,640	1,238	1,141	2,160	4,676	2,981	2,695	4,294	6,052	4,049	3,778	5,462	7,341	4,784	4,415	5,859	7,994	5,181	4,723	6,425	8,678	5,634	5,394	7,325	9,707
Change	-	-31.48%	-72.47%	319.05%	-53.11%	-7.84%	89.31%	116.48%	-36.25%	-9.59%	59.33%	40.94%	-33.1%	-6.69%	44.57%	34.4%	-34.83%	-7.71%	32.71%	36.44%	-35.19%	-8.85%	36.04%	35.08%	-35.08%	-4.26%	35.79%	32.51%
EBITDA ¹	1,282	290	-376	1,003	-38	-195	48	2,111	940	310	1,086	2,658	1,241	586	1,778	3,284	1,464	898	1,895	3,665	1,648	1,017	2,195	4,050	1,856	1,273	2,582	4,604
Change	-	-77.38%	-	-	-	413.16%	-	4,297.92%	-55.47%	-67.02%	250.32%	144.75%	-53.31%	-52.78%	203.41%	84.7%	-55.42%	-38.66%	111.02%	93.4%	-55.04%	-38.29%	115.85%	84.54%	-54.17%	-31.4%	102.74%	78.33%
EBIT ¹	1,172	-309	-484	315	-153	-311	-56	2,015	848	174	1,000	2,583	1,345	450	1,673	3,103	609	791	1,856	3,179	1,478	829.1	2,007	3,836	1,665	1,147	2,486	4,448
Change	-	-	56.63%	-	-	103.27%	-81.99%	-	-57.92%	-79.48%	474.71%	158.3%	-47.93%	-66.54%	271.78%	85.48%	-80.37%	29.89%	134.64%	71.28%	-53.5%	-43.91%	142.07%	91.14%	-56.59%	-31.12%	116.71%	78.91%
Charge d'intérêts ¹	-62	-64	-96	-98	-98	-98	-81	-80	-75	-68	-76	-102	-145	-194	-241	-254	-208	-219	-264	-305	-259.4	-241.7	-241.9	-243.4	-242.7	-	-	-
Earnings before Tax (EBT) ¹	1,420	-722	209	835	245	-278	-41	968	816	-849	1,144	2,176	1,452	303	1,618	3,149	411	937	1,922	2,869	1,526	845.6	2,037	3,866	1,684	1,185	2,518	4,477
Change	-	-	-	299.52%	-70.66%	-	-85.25%	-	-15.7%	-	-	90.21%	-33.27%	-79.13%	433.99%	94.62%	-86.95%	127.98%	105.12%	49.27%	-46.81%	-44.59%	140.87%	89.82%	-56.44%	-29.63%	112.45%	77.83%
Net income ¹	1,171	-699	122	801	-165	-55	-167	769	618	-700	857	1,666	1,235	266	1,290	2,511	222	776	1,521	2,517	1,222	667.3	1,620	3,105	1,355	951.8	1,995	3,760
Change	-	-	-	556.56%	-	-66.67%	203.64%	-	-19.64%	-	-	94.4%	-25.87%	-78.46%	384.96%	94.65%	-91.16%	249.55%	96.01%	65.48%	-51.43%	-45.42%	142.83%	91.61%	-56.37%	-29.74%	109.64%	88.43%
Announcement Date	2/26/20	5/7/20	8/6/20	11/5/20	2/24/21	5/5/21	8/4/21	11/3/21	2/23/22	5/4/22	8/3/22	11/2/22	2/23/23	5/4/23	8/3/23	11/2/23	2/22/24	5/2/24	8/1/24	10/30/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Booking Holdings Inc.

balance-sheet-analysis-chart BOOKING-HOLDINGS-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,318	951	-226	89	1,501	2,799	3,761	894
Change	-	-27.85%	-123.76%	-60.62%	1,586.52%	86.48%	34.37%	-76.23%
Announcement Date	2/26/20	2/24/21	2/23/22	2/23/23	2/22/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Booking Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	368	286	304	368	345	464.6	509.3	529.8
Change	-	-22.28%	6.29%	21.05%	-6.25%	34.66%	9.63%	4.01%
Free Cash Flow (FCF) ¹	4,497	-201	2,516	6,186	6,999	7,519	8,377	8,772
Change	-	-104.47%	-1,351.74%	145.87%	13.14%	7.43%	11.41%	4.72%
Announcement Date	2/26/20	2/24/21	2/23/22	2/23/23	2/22/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Booking Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	38.86%	12.93%	26.5%	30.98%	33.29%	34.56%	35.8%	36.9%
EBIT Margin (%)	35.48%	-9.28%	22.78%	29.85%	27.31%	31.39%	32.8%	34.12%
EBT Margin (%)	39.55%	8.34%	13.37%	22.95%	25.65%	31.16%	33.2%	34.16%
Net margin (%)	32.29%	0.87%	10.63%	17.89%	20.07%	25.8%	26.57%	27.31%
FCF margin (%)	29.85%	-2.96%	22.96%	36.2%	32.76%	32.09%	33.05%	31.76%
FCF / Net Income (%)	92.44%	-340.68%	215.97%	202.29%	163.18%	124.36%	124.35%	116.3%
Profitability
ROA	20.25%	0.9%	8.32%	16.32%	22.38%	24.2%	25.28%	31.68%
ROE	60.65%	3.58%	34.2%	89.24%	-	-	-	277.28%
Financial Health
Leverage (Debt/EBITDA)	0.23x	1.08x	-	0.02x	0.21x	0.35x	0.41x	0.09x
Debt / Free cash flow	0.29x	-4.73x	-	0.01x	0.21x	0.37x	0.45x	0.1x
Capital Intensity
CAPEX / Current Assets (%)	2.44%	4.21%	2.77%	2.15%	1.61%	1.98%	2.01%	1.92%
CAPEX / EBITDA (%)	6.29%	32.54%	10.47%	6.95%	4.85%	5.74%	5.61%	5.2%
CAPEX / FCF (%)	8.18%	-142.29%	12.08%	5.95%	4.93%	6.18%	6.08%	6.04%
Items per share
Cash flow per share ¹	111.8	2.065	68.18	163.6	201	227.3	281.8	326.1
Change	-	-98.15%	3,201.46%	140.01%	22.86%	13.08%	23.93%	15.73%
Dividend per Share ¹	-	-	-	-	-	34.89	36.92	37.04
Change	-	-	-	-	-	-	5.81%	0.32%
Book Value Per Share ¹	136.4	119.5	150.4	73.48	-79.77	-134.3	-184.6	-195
Change	-	-12.4%	25.93%	-51.16%	-208.56%	68.38%	37.45%	5.61%
EPS ¹	111.8	1.44	28.17	76.35	117.4	177.2	203.7	238.3
Change	-	-98.71%	1,856.25%	171.03%	53.77%	50.9%	14.96%	16.99%
Nbr of stocks (in thousands)	41,856	40,955	41,063	38,789	34,890	33,097	33,097	33,097
Announcement Date	2/26/20	2/24/21	2/23/22	2/23/23	2/22/24	-	-	-