Booking Holdings Inc.

Listed Company

BKNGCIK 0001075531NasdaqLarge AcceleratedTransportation ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$26.92B

Net Income

—

Total Assets

$29.26B

Equity

$-5.58B

Shares Out

774.88M

Op. Cash Flow

$9.41B

Business

Booking Holdings Inc. operates online travel and restaurant reservation platforms that connect consumers with travel service providers and restaurants. It offers accommodation bookings, flights, ground transportation, rental cars, activities, restaurant reservations and management, meta-search and advertising services, payments facilitation, and travel-related insurance. The company operates through five primary consumer-facing brands — Booking.com, Priceline, Agoda, KAYAK, and OpenTable — and derives revenue from merchant, agency, and advertising and other streams. It serves a global audience via multilingual websites, mobile apps, meta-search referrals, and partner integrations across more than 220 countries and territories.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	26,917	23,739	21,365	17,090	10,958
Marketing expenses	8,186	7,278	6,773	5,993	3,801
Sales and other expenses	3,453	3,120	2,744	1,986	979
Personnel, including stock-based compensation of $613, $599, and $530, respectively	3,403	3,354	3,294	2,465	2,314
General and administrative	857	1,036	1,560	766	522
Information technology	908	771	655	526	412
Depreciation and amortization	623	591	504	451	421
Impairment	457	0	0	—	—
Transformation costs	205	34	0	0	—
Total operating expenses	18,092	16,184	15,530	11,988	8,462
Operating income	8,825	7,555	5,835	5,102	2,496
Interest expense	−1,617	−1,295	−897	−391	—
Interest and dividend income	921	1,114	1,020	219	—
Other income (expense), net	−1,297	−82	−477	−1,007	−697
Income before income taxes	6,832	7,292	5,481	3,923	1,465
Income tax expense	1,428	1,410	1,192	865	300
Net income	5,404	5,882	4,289	3,058	1,165
Net income applicable to common stockholders per basic common share (in dollars per share)	166.52	174.96	118.67	76.7	28.39
Weighted-average number of basic common shares outstanding (in shares)	32	34	36	40	41
Net income applicable to common stockholders per diluted common share (in dollars per share)	165.57	172.69	117.4	76.35	28.17
Weighted-average number of diluted common shares outstanding (in shares)	33	34	37	40	41

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	17,203	16,164	12,107	12,221	11,127
Accounts receivable, net (Allowance for expected credit losses of $137 and $146, respectively)	3,820	3,199	3,253	2,229	1,358
Prepaid expenses, net	611	587	644	477	404
Other current assets	630	541	454	696	231
Total current assets	22,264	20,491	17,034	15,798	13,145
Property and equipment, net	807	832	784	669	822
Operating lease assets	632	559	705	645	496
Intangible assets, net	918	1,382	1,613	1,829	2,057
Goodwill	2,669	2,799	2,826	2,807	2,887
Long-term investments	582	536	440	2,789	3,175
Other assets, net	1,392	1,109	940	824	1,059
Total assets	29,264	27,708	24,342	25,361	23,641
Accounts payable	5,094	3,824	3,374	2,507	1,586
Accrued expenses and other current liabilities	4,454	6,047	4,741	3,244	1,765
Deferred merchant bookings	5,270	4,031	3,254	2,223	906
Short-term debt	1,880	1,745	1,961	500	1,989
Total current liabilities	16,698	15,647	13,330	8,474	6,246
Deferred income taxes	17	289	258	685	905
Operating lease liabilities	557	483	599	552	351
Long-term U.S. transition tax liability	0	257	515	711	825
Other long-term liabilities	714	199	161	172	199
Long-term debt	16,856	14,853	12,223	11,985	8,937
Total liabilities	34,842	31,728	27,086	22,579	17,463
Commitments and contingencies (see Note 16)	—	—	—	—	—
Common stock, $0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 64,521,154 and 64,276,130, respectively	1	0	0	0	0
Treasury stock: 32,627,042 and 31,329,265 shares, respectively	−54,315	−47,877	−41,426	−30,983	−24,290
Additional paid-in capital	8,356	7,707	7,175	6,491	6,159
Retained earnings	40,670	36,525	31,830	27,541	24,453
Accumulated other comprehensive loss	−290	−375	−323	−267	−144
Total stockholders' deficit	−5,578	−4,020	−2,744	2,782	6,178
Total liabilities and stockholders' deficit	29,264	27,708	24,342	25,361	23,641

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	623	591	504	451	421
Provision for expected credit losses and chargebacks	416	412	330	232	109
Deferred income taxes	−516	98	−478	−257	−445
Net (gains) losses on equity securities	−46	−63	131	963	569
Stock-based compensation expense	617	599	530	404	376
Operating lease amortization	145	160	161	156	178
Unrealized foreign currency transaction losses (gains) related to Euro-denominated debt	1,400	−526	163	−46	−135
Amortization of debt discount and change in fair value of the conversion option related to the convertible senior notes	360	796	0	—	—
Other	−14	7	5	38	71
Accounts receivable	−730	−506	−1,330	−1,228	−1,002
Prepaid expenses and other current assets	100	−12	155	−217	6
Deferred merchant bookings and other current liabilities	796	1,361	2,742	3,718	1,539
Other	369	−476	142	−478	−274
Net cash provided by operating activities	9,409	8,323	7,344	6,554	2,820
Purchase of investments	0	−33	−12	−768	−17
Proceeds from sale and maturity of investments	0	590	1,840	32	508
Additions to property and equipment	−322	−429	−345	−368	−304
Other investing activities	9	1	3	−15	0
Net cash (used in) provided by investing activities	−313	129	1,486	−518	−998
Proceeds from the issuance of long-term debt	3,681	4,836	1,893	3,621	2,015
Payments on maturity, redemption, and conversion of debt	−4,970	−1,312	−500	−1,880	−3,068
Payments for repurchase of common stock	−6,440	−6,509	−10,377	−6,621	−163
Dividends paid	−1,200	−1,200	0	0	—
Proceeds from exercise of stock options	15	14	134	7	5
Other financing activities	47	−59	−59	−24	−28
Net cash used in financing activities	−8,915	−4,204	−8,909	−4,897	−1,239
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	895	−190	−37	−40	−13
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	1,076	4,058	−116	1,099	570

Filings

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