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Booking Holdings
BKNGConsumer DiscretionaryGenerated Jul 6, 2026, 09:21 PM UTC
BKNG (Booking Holdings) analytical snapshot. Revenue grew +13.4% YoY to $26.92B. 5-year revenue CAGR +19.7%; 10y CAGR +10.7%. Net margin at 0.00% (contracting ▼). Market cap $140.28B at $181.03 per share. Trailing P/E 1.09, P/S 5.21. EV/Operating income ≈ 16.20 (EV $142.99B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score 23 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$140.28B
774.88M shares
Price
$181.03
NMS
P/E (ttm)
1.09
Revenue (FY)
$26.92B
YoY +13.4%
Net margin
0.00%
▼ 0.00pp
Free cash flow
$9.09B
33.76% margin
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 18, 2026. Latest quarterly report (10-Q) filed Apr 28, 2026. 14 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 18, 2026.
- Latest quarterly report (10-Q) filed Apr 28, 2026.
- 14 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Booking Holdings; broad institutional reporting.
- Recent filers include Parallax Volatility Advisers, L.P., Parallax Volatility Advisers, L.P., Parallax Volatility Advisers, L.P..
- 2 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 17 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 18, 2026
Annual report
Latest 10-Q
Apr 28, 2026
8-K (recent)
14
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
2
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Parallax Volatility Advisers, L.P. | 13F-HR | Nov 15, 2021 |
| Parallax Volatility Advisers, L.P. | 13F-HR | Feb 16, 2021 |
| Parallax Volatility Advisers, L.P. | 13F-HR | May 14, 2021 |
| Parallax Volatility Advisers, L.P. | 13F-HR | Feb 14, 2022 |
| ALTRINSIC GLOBAL ADVISORS LLC | 13F-HR | Feb 14, 2022 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 2, 2026 | 8-K | 8-K |
| May 11, 2026 | 8-K | FORM 8-K |
| May 7, 2026 | 8-K | FORM 8-K |
| Apr 28, 2026 | 8-K | 8-K |
| Apr 2, 2026 | 8-K | CURRENT REPORT |
| Apr 2, 2026 | 8-K | 8-K |
| Apr 1, 2026 | 8-K | 8-K |
| Feb 18, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -10Stable
66% conf
1 risk signal(s), 2 positive signal(s), 2 watch item(s) detected from XBRL filing diff analysis. Revenue grew +13.4% but receivables grew +25.1% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +25.1% YoY vs revenue growth of +13.4%. The +11.7% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Operating cash flow exceeds net income: OCF is 3.69x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Gross margin expansion: Gross margin expanded +2.7%pp (from 43.5% to 46.2%), indicating improved pricing power, cost efficiency, or favorable product mix.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Revenue grew +13.4% but receivables grew +25.1% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 2 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Restructuring, Off-balance sheet arrangements.
Revenue
$26.92B
+13.4% YoY
Gross profit
$12.43B
+20.5% YoY
Operating income
$8.82B
+16.8% YoY
Net income
$2.55B
+5.4% YoY
Operating cash flow
$9.41B
+13.0% YoY
Capex
$322.0M
-24.9% YoY
Total assets
$29.26B
+5.6% YoY
Total liabilities
$34.84B
+9.8% YoY
Filing quality score
74/100
2 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $23.74B | $26.92B | $3.18B | +13.4% |
| Gross profit | $10.31B | $12.43B | $2.12B | +20.5% |
| Operating income | $7.55B | $8.82B | $1.27B | +16.8% |
| Net income | $2.42B | $2.55B | $129.6M | +5.4% |
| Operating cash flow | $8.32B | $9.41B | $1.09B | +13.0% |
| Capex | $429.0M | $322.0M | $-107.0M | -24.9% |
| Total assets | $27.71B | $29.26B | $1.56B | +5.6% |
| Total liabilities | $31.73B | $34.84B | $3.11B | +9.8% |
| Long-term debt | $16.60B | $18.74B | $2.14B | +12.9% |
| Cash & equivalents | $16.16B | $17.20B | $1.04B | +6.4% |
| Stockholders equity | $-4.02B | $-5.58B | $-1.56B | -38.8% |
| Accounts receivable | $1.22B | $1.52B | $305.2M | +25.1% |
| Interest expense | $391.0M | $897.0M | $506.0M | +129.4% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | LitigationSettlementGain, LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths |
| Removed | AccruedAdvertisingCurrent, AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment, AllowanceForDoubtfulAccountsReceivable, AmortizationOfDebtDiscountPremium, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredFederalIncomeTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Impairment charge | medium | 5 | 3 | Ongoing |
| Restructuring | medium | 5 | 0 | NEW |
| Off-balance sheet arrangements | medium | 5 | 0 | NEW |
| Related party transactions | low | 5 | 0 | NEW |
Filing signal breakdown
Red flags: 1
Positive: 2
Watch: 2
Red flags
Positive
Watch
Free previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 30Improving
80% conf
Revenue grew +13.4% YoY to $26.92B. 5-year revenue CAGR +19.7%; 10y CAGR +10.7%. Net margin at 0.00% (contracting ▼).
- Revenue grew +13.4% YoY to $26.92B.
- 5-year revenue CAGR +19.7%; 10y CAGR +10.7%.
- Net margin at 0.00% (contracting ▼).
- Return on equity 0.00%, ROA 0.00%, ROIC 67.07%.
- Gross margin 0.00%, operating margin 32.79%.
- Free cash flow margin 33.76% ($9.09B).
- Debt/equity -2.15, current ratio 1.06, net debt $2.71B.
- Asset turnover 0.97 — capital efficiency.
Revenue (FY)
$26.92B
YoY +13.4%
Net margin
0.00%
▼ 0.00pp
ROE
0.00%
ROA 0.00%
ROIC
67.07%
EPS (diluted)
$165.57
FY2025
Free cash flow
$9.09B
33.76% margin
Debt / equity
-2.15
Cash $16.02B
Current ratio
1.06
Equity -$8.72B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $23.74B | +11.1% | 0.00 | 31.83 | 0.00 | $7.89B | 0.00 |
| 2025 | $26.92B | +13.4% | 0.00 | 32.79 | 0.00 | $9.09B | 0.00 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Jun 30, 2024 | $5.86B | +7.3% | — | — |
| Sep 30, 2024 | $7.99B | +8.9% | +36.4% | — |
| Mar 31, 2025 | $4.76B | +7.9% | -40.4% | — |
| Jun 30, 2025 | $6.80B | +16.0% | +42.8% | — |
| Sep 30, 2025 | $9.01B | +12.7% | +32.5% | — |
| Mar 31, 2026 | $5.53B | +16.2% | -38.6% | — |
Sources:SEC EDGAR — Company Facts (XBRL)
+8 more years of history, charts & full breakdown Pro
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Valuation Analyst
score 70Improving
95% conf
Market cap $140.28B at $181.03 per share. Trailing P/E 1.09, P/S 5.21. EV/Operating income ≈ 16.20 (EV $142.99B).
- Market cap $140.28B at $181.03 per share.
Market cap
$140.28B
774.88M shares
P/E (ttm)
1.09
P/S
5.21
P/B
—
EV
$142.99B
Intrinsic (DCF)
$288.22
+59.2% vs price
ProFull breakdown & reasoning locked
Price & Technicals
Technical Analyst
score 0Stable
85% conf
Price $181.03 — downtrend (below 200-DMA); 1-month momentum positive. RSI(14) 64.34.
- Price $181.03 — downtrend (below 200-DMA); 1-month momentum positive.
Price
$181.03
NMS
RSI(14)
64.34
50-DMA
$168.52
200-DMA
$188.58
Volatility (ann.)
33.56%
52w range
$150.14–$233.58
-22.5% from high
ProFull breakdown & reasoning locked
Macro & Rates
Macro Analyst
score 15Stable
80% conf
Risk-on · Supportive. Real GDP growth 2.10% (quarterly, as of Jan 1, 2026). CPI inflation +4.2% YoY (above the Fed's long-run ~2% target). Fed funds rate 3.63%, 10Y Treasury 4.49%.
- Market regime: Risk-on · Supportive.
GDP growth
2.10%
CPI (YoY)
+4.2%
Fed funds
3.63%
10Y yield
4.49%
10Y−2Y
0.35pp
Unemployment
4.20%
ProFull breakdown & reasoning locked
Risk Scorecard
Risk Analyst
score -10Stable
90% conf
Composite risk Moderate. Leverage debt/equity -2.15 (low). Liquidity current ratio 1.06 (adequate).
- Composite risk: Moderate.
Risk level
Moderate
Debt / equity
-2.15
Current ratio
1.06
Margin stdev
15.18pp
Cash / assets
57.81%
Liab / assets
131.47%
ProFull breakdown & reasoning locked
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Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Booking Holdings is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
15.81
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewRevenue grew **+13.4%** YoY to $26.92B..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow BKNG stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Alphabet Inc. GOOGL | 27 | Supportive |
| Uber Technologies UBER | 24 | Supportive |
| Booking Holdings BKNG● you | 23 | Supportive |
| Newmont Corp. NEM | 22 | Supportive |
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| United Parcel Service UPS | 9 | Supportive |
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