Income StatementBalance SheetCash FlowSegments
Booking Holdings Inc. logo

Booking Holdings Inc. Business Segments

Business, geographic, and product segment breakdowns

Booking Holdings Inc. generates $27.7B in annual revenue across 3 key segments: Advertising and other revenues ($1.2B), Agency revenues ($7.9B), and Merchant revenues ($18.5B). The company-wide operating margin is 32.63%. Based on the Q1 2026 filing.

Advertising and other revenues (TTM)$1.2BAgency revenues (TTM)$7.9BMerchant revenues (TTM)$18.5B
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$124.80B
P/E Ratio20.28
ROE-82.96%

Products & Services

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Merchant revenues$3.3B$2.9B$4.5B$6.1B$4.2B$3.7B
Agency revenues$1.9B$1.6B$2.0B$2.6B$1.8B$1.5B
Advertising and other revenues$271.0M$280.0M$297.0M$308.0M$309.0M$306.0M

Concentration Risk, Percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Online accommodation reservation services—88.0%89.0%90.0%—89.0%
Other sources of online travel reservation services or advertising and other revenues—10.0%10.0%10.0%—10.0%

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property and equipment (excluding capitalized software) and operating lease assets$243.0M———$332.0M—

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenues$5.5B$4.8B$6.8B$9.0B$6.3B$5.5B
Marketing expenses$1.6B$1.8B$2.1B$2.3B$1.9B$2.1B
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest$1.6B$396.0M$1.1B$3.5B$1.9B$1.4B
Segment Adjusted EBITDA less Capex$1.8B$1.0B$2.4B$4.2B$2.2B$1.3B
Personnel expenses$792.0M$789.0M$824.0M$894.0M$814.0M$834.0M
Sales and other expenses$751.0M$702.0M$899.0M$1.0B$830.0M$818.0M
Other segment items$507.0M$451.0M$500.0M$535.0M$619.0M$550.0M
Foreign currency transaction (losses) gains (1)$633.0M-$389.0M-$961.0M-$9.0M-$21.0M$333.0M
Interest Expense, Nonoperating$507.0M$649.0M$418.0M$301.0M$249.0M$253.0M
Interest and dividend income$251.0M$241.0M$234.0M$248.0M$198.0M$187.0M
Depreciation, Depletion and Amortization, Nonproduction$157.0M$154.0M$158.0M$160.0M$151.0M$131.0M
Stock-based compensation included in the determination of segment Adjusted EBITDA less Capex$144.0M$130.0M$137.0M$139.0M$147.0M$126.0M
Net gains (losses) on equity securities (3)$36.0M$3.0M$21.0M$92.0M—-$107.0M
Gain related to settlement of litigation matters—$0.0———$89.0M
Additions to property and equipment$89.0M$110.0M$60.0M$78.0M$102.0M$82.0M
Other General Expense$83.0M$64.0M$73.0M$64.0M$63.0M$40.0M
Transformation costs$34.0M$32.0M$36.0M$105.0M$30.0M$23.0M
Accruals for loss contingencies recorded during the period$50.0M-$129.0M$6.0M$45.0M-$45.0M$0.0
Change in fair value of the conversion option-$535.0M$158.0M$5.0M$0.0$0.0$0.0
Termination fee related to an acquisition agreement$0.0$0.0$0.0$0.0$0.0—