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Booking Holdings Inc. BKNG Free cash flow margin

Free cash flow margin at other companies

Marriott International logo
Marriott InternationalMAR
10.6%+3.3pp
Airbnb logo
AirbnbABNB
44.2%+2.8pp
Hyatt Hotels logo
Hyatt HotelsH
9.8%+2.0pp
Shopify logo
ShopifySHOP
17.1%-1.3pp
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
16.3%-2.4pp
Alphabet Inc. logo
Alphabet Inc.GOOGL

Other financials

Income statement

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Revenue$5.5B+16.2%
Operating income$1.3B+19.7%
Net income$1.1B+225%
EPS (diluted)$1.36+240%

Balance sheet

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Cash & equivalents$16.0B+2.9%
Total debt$18.9B+14.8%
Total equity-$8.7B-42.7%
Total assets$27.7B+2.0%

Cash flow

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Operating cash flow$3.2B-2.1%
CapEx$107.0M-11.6%
Free cash flow$3.1B-1.7%

Valuation

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Market cap$133.11B-11.8%
Enterprise value$136.03B-10.4%
P/E21.6×-6.1×
P/S4.8×-1.5×

Profitability

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Gross margin98.1%
Operating margin32.6%+0.1pp
Net margin22.2%-0.4pp

Returns & leverage

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Return on equity147.8%+136pp
Debt / equity11.8×+9.5×
Current ratio1.1×-0.2×

Where this comes from

Calculated from Booking Holdings Inc.’s reported figures.

Based on trailing twelve months.

The official record: Booking Holdings Inc.’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Booking Holdings Inc.'s free cash flow margin?
Booking Holdings Inc. (BKNG) reported free cash flow margin of 32.6% in Q1 2026.
How has Booking Holdings Inc.'s free cash flow margin changed year-over-year?
Booking Holdings Inc.'s free cash flow margin decreased by 7.4% year-over-year, from 35.2% to 32.6%.
What is the long-term trend for Booking Holdings Inc.'s free cash flow margin?
Over 3 years (2022 to 2025), Booking Holdings Inc.'s free cash flow margin has grown at a -0.3% compound annual growth rate (CAGR), from 139.1% to 137.8%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.