Booking Holdings Inc
Exchange: NASDAQSector: IndustrialsIndustry: Travel Services
Booking Holdings is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through five primary consumer-facing brands: Booking.com, Priceline, Agoda, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world.
Did you know?
A large-cap company with a $135.2B market cap.
Current Price
$4194.31
+0.23%GoodMoat Value
$4901.41
16.9% undervaluedProfile
Valuation (TTM)
Market Cap$135.20B
P/E25.02
EV$143.82B
P/B—
Shares Out32.23M
P/Sales5.02
Revenue$26.92B
EV/EBITDA14.90
Booking Holdings Inc (BKNG) Stock Analysis
GoodMoat Analysis
Booking Holdings operates a dominant global online travel platform with a powerful network effect moat. Its high-quality financials, including a 32.8% operating margin and 16% revenue growth, are attractive, but the current valuation appears full, offering only a marginal margin of safety.
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Booking Holdings Inc (BKNG) is a global leader in online travel and related services, connecting travelers with accommodations, flights, and rental cars through brands like Booking.com, Priceline, and Kayak. The company's primary competitive advantage is a formidable network effect moat. As more properties list on its platform, choice for travelers increases, which attracts more travelers, creating a virtuous cycle that strengthens its position—a key criterion from Section 1 of the framework. This is supported by significant scale, brand recognition, and high switching costs for both travelers and property partners.
Financially, the business exhibits high quality. It generates robust profitability with a 20.1% net profit margin and a 32.8% operating margin. Revenue growth of 16% YoY is healthy, and the free cash flow yield of 6.7% indicates strong cash generation. According to the GoodMoat framework's Decision Framework (Section 6), this profile likely passes the 'Moat & Quality Gate' for further analysis.
Valuation is the key consideration. At a P/E of 25.3x and a price of $4,237.75, the stock trades near the GoodMoat target of $4,901.41, implying a margin of safety of approximately 15.5%. This falls into the 'Marginal' (10-20%) band per the framework's valuation assessment, suggesting the price is not deeply undervalued. For a value investor, this indicates a scenario that may require 'caution'—the business is strong, but the current price demands near-perfect execution and offers less room for error.
Analysis based on data as of 2024-05-15.
Market Cap$135.20B
Current Price$4194.31
P/E Ratio25.02
Forward P/E—
PEG Ratio0.69
EPS$165.57
Book Value$-173.05
P/B Ratio—
BKNG Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use 12.4% FCF growth (CAGR)
Cash vs Debt
Net Debt: 2.1B
Revenue
15.1B
FY19
6.8B
FY20
11.0B
FY21
17.1B
FY22
21.4B
FY23
23.7B
FY24
26.9B
FY25
Net Income
4.9B
FY19
59M
FY20
1.2B
FY21
3.1B
FY22
4.3B
FY23
5.9B
FY24
5.4B
FY25
BKNG 52-Week Range
$3861.92
$5781.75
50-Day MA: $4397.60200-Day MA: $5104.33
Did you know?
Pays a 0.92% dividend yield.
Booking Holdings Inc (BKNG) Financial Summary
Booking Holdings Inc (BKNG) is a Industrials company in the Travel Services industry, listed on NASDAQ. The stock currently trades at $4194.31 with a market capitalization of $135.20B.
Key valuation metrics include a P/E ratio of 25.02, and EPS of $165.57. The company reports a profit margin of 20.1%.
BKNG Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $135.20B |
| P/E Ratio | 25.02 |
| EPS | $165.57 |
| P/S Ratio | 5.02 |
| EV/EBITDA | 14.90 |
| Dividend Yield | 0.92% |
| Profit Margin | 20.1% |
BKNG Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $15.07B | $4.87B |
| FY20 | $6.80B | $59.00M |
| FY21 | $10.96B | $1.17B |
| FY22 | $17.09B | $3.06B |
| FY23 | $21.36B | $4.29B |
| FY24 | $23.74B | $5.88B |
| FY25 | $26.92B | $5.40B |
Booking Holdings Inc (BKNG) Valuation
Based on GoodMoat's DCF model, Booking Holdings Inc has a fair value estimate of $4901.41. At the current price of $4194.31, the stock appears 14.4% undervalued relative to our intrinsic value estimate.
BKNG Quality Indicators
Booking Holdings Inc maintains a profit margin of 20.1% and an operating margin of 32.8%. The current ratio is 1.33.
About Booking Holdings Inc
Booking Holdings is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through five primary consumer-facing brands: Booking.com, Priceline, Agoda, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world.
BKNG Free Cash Flow
Booking Holdings Inc generated $9.09B in trailing twelve-month free cash flow, representing an FCF yield of 6.72%. This strong FCF yield suggests the company generates substantial cash relative to its market value.
BKNG Shares Outstanding
Booking Holdings Inc has 0.03 billion shares outstanding at a share price of $4194.31, giving it a market capitalization of $135.20B.
BKNG Recent Insider Trades
Recent insider transactions at Booking Holdings Inc include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Fogel Glenn D (CEO AND PRESIDENT) | SELL | 14 | $59668.84 |
| Fogel Glenn D (CEO AND PRESIDENT) | SELL | 45 | $186116.01 |
| Fogel Glenn D (CEO AND PRESIDENT) | SELL | 10 | $40380.30 |