Booking Holdings Inc. (BKNG) Stock Analysis

Analysis from 10-Q filed 2025-10-28. Data as of Q2 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC 63.0%. FCF margin 33.8%. D/E -1.9x. Source: 10-Q filed 2025-10-28.

Metric	Value	Context
ROIC	63.0%	Above industry average
FCF Margin	33.8%	Strong cash generation
Debt/Equity	-1.9x	Conservative leverage

ROIC 63.0% — Top 5% of sector peers. FCF margin 33.8% — Top 5%.

Explore Booking Holdings Inc.: Earnings History | Filings

Programmatic access: Available via MCP at mcp.metricduck.com. Tools for BKNG: get_company_overview, get_filing_index (lens: debt_stress, management_outlook, risk_trajectory), get_filing_changes, get_metric_history, compare_companies, screen_filing_signals.

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Profitability: Booking Holdings Inc. earns 63.0% ROIC, Top 5% in Transportation

ROIC TTM 63.0%, sector median 6.0%, Top 5%. DuPont: NOPAT margin 25.5% × asset turnover 1.0x. Operating margin 32.9%. Source: 10-Q filed 2025-10-28.

Metric	BKNG	Rating	Context
Return on Invested Capital (ROIC)	63.0%	Excellent	Above sector median of 6.0%
Return on Equity (ROE)	-103.9%	Red flag	Moderate equity returns
Operating Margin	32.9%	Excellent	Efficient operations

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Cash Flow: Booking Holdings Inc. generates $9.5B FCF at 33.8% margin, positive NaN/8 quarters

FCF TTM $9.5B. FCF margin 33.8%, Top 5%. OCF/Net income 1.4x. Positive FCF in NaN/8 trailing quarters. Source: 10-Q filed 2025-10-28.

Metric	BKNG	Rating	Context
Free Cash Flow Margin	33.8%	Excellent	Excellent cash conversion
Free Cash Flow (TTM)	$9.5B	Good	Positive cash generation
OCF/Net Income	1.4x	Excellent	High earnings quality
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

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Balance Sheet: Booking Holdings Inc. at -1.9x leverage

Debt/Equity -1.9x. Total debt $20.2B, cash & investments $17.2B. Source: 10-Q filed 2025-10-28.

Metric	BKNG	Rating	Context
Debt to Equity	-1.9x	Excellent	Conservative capital structure
Net Cash Position	$-3.0B	Warning	Net debt position

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Valuation: Booking Holdings Inc. trades at 6.4x earnings

P/E 6.4x. EV/Sales 9.2x. FCF yield 20.7%. Dividend yield 2.8%. Source: 10-Q filed 2025-10-28.

Metric	BKNG	Rating	Context
P/E Ratio	6.4x	Adequate	Reasonable valuation
EV/Sales	9.2x	Adequate	Growth premium priced in
FCF Yield	20.7%	Excellent	Attractive cash return
Dividend Yield	2.8%	Adequate	Growth focus over income

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Capital Allocation: Booking Holdings Inc. returns 25.6% shareholder yield

Total shareholder yield 25.6% (div 2.8% + buyback 22.8%). Capital returned $11.8B TTM. Source: 10-Q filed 2025-10-28.

Metric	BKNG	Rating	Context
Total Shareholder Yield	25.6%	Excellent	Dividend + buyback yield combined
Buyback Yield	22.8%	Good	Active share repurchases
Total Capital Returned (TTM)	$11.8B	Good	Dividends + buybacks returned to shareholders

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Sector Rankings

Metric	Value	Percentile	vs Median
Return on Invested Capital (ROIC)	63.0%	Top 5%	10.6x above
Free Cash Flow Margin	33.8%	Top 5%	10.5x above
Operating Margin	32.9%	Top 5%	4.7x above
Return on Equity (ROE)	-103.9%	Bottom 10%	-9.9x below
P/E Ratio	6.4x	N/A	-

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Financial Scorecard

Metric	BKNG	Rating	Sector Context
Return on Invested Capital (ROIC)	63.0%	Excellent	Top 5% of sector (median: 6.0%)
Free Cash Flow Margin	33.8%	Excellent	Top 5% of sector (median: 3.2%)
Debt to Equity Ratio	-187.1%	Excellent	Conservative capital structure
P/E Ratio (Price-to-Earnings)	639.8%	Adequate	Attractively valued
Free Cash Flow Yield	20.7%	Excellent	High cash return

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Frequently Asked Questions

Q: What is Booking Holdings Inc.'s Return on Invested Capital (ROIC)?

Booking Holdings Inc. (BKNG) has a trailing twelve-month Return on Invested Capital (ROIC) of 63.0%. Sector median 6.0%. Source: 10-Q filed 2025-10-28.

Q: What is Booking Holdings Inc.'s Free Cash Flow Margin?

Booking Holdings Inc. (BKNG) has a free cash flow margin of 33.8%, generating $9.5 billion in free cash flow over the trailing twelve months. Source: 10-Q filed 2025-10-28.

Q: What is Booking Holdings Inc.'s P/E ratio and how does it compare to peers?

Booking Holdings Inc. (BKNG) trades at a P/E ratio of 6.4x, which is above the sector median of N/A. EV/Sales 9.2x. FCF yield 20.7%. Source: 10-Q filed 2025-10-28.

Q: Does Booking Holdings Inc. pay a dividend?

Booking Holdings Inc. (BKNG) currently pays a dividend yield of 2.8%. Total shareholder yield (dividend + buybacks) 25.6%. Source: 10-Q filed 2025-10-28.

Q: What is Booking Holdings Inc.'s revenue and earnings growth?

Booking Holdings Inc. (BKNG) grew revenue by 12.9% year-over-year. EPS +57.2% YoY. Source: 10-Q filed 2025-10-28.

Q: Is Booking Holdings Inc. buying back stock?

Booking Holdings Inc. (BKNG) repurchased $10.5 billion of stock over the trailing twelve months. This represents a buyback yield of 22.8%. Source: 10-Q filed 2025-10-28.

Q: How does Booking Holdings Inc. compare to competitors in Transportation?

Compared to other companies in Transportation, Booking Holdings Inc. (BKNG) shows: ROIC 63.0%, sector median 6.0% (Top 5%). FCF margin 33.8%, sector median 3.2% (Top 5%). These rankings are based on MetricDuck's analysis of all Transportation companies with available SEC filings.

Q: What warning signs should I watch for with Booking Holdings Inc.?

No quantitative warning flags fired for Booking Holdings Inc. (BKNG) on margin trend, FCF trend, ROIC trend, or leverage thresholds. Source: 10-Q filed 2025-10-28.

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Data Source: Data sourced from 10-Q filed 2025-10-28. TTM metrics as of Q2 2026.

Methodology: Financial metrics calculated from SEC 10-K and 10-Q filings using standardized formulas. Sector comparisons use peer group based on SIC code.

Scope: This analysis covers SEC filing fundamentals — profitability, cash flow, balance sheet, and valuation metrics. For analyst estimates and price targets, consult sell-side research.

This analysis is for informational purposes only and does not constitute investment advice.