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Booking Holdings Inc. BKNG Return on invested capital

Return on invested capital at other companies

Marriott International logo
Marriott InternationalMAR
23%-0.2pp
Expedia Group, Inc. logo
Expedia Group, Inc.EXPE
48.5%+22.0pp
Hyatt Hotels logo
Hyatt HotelsH
2.9%-13.1pp
Shopify logo
ShopifySHOP
15.2%
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
35.9%+12.6pp
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$132.99B-11.8%
Enterprise value$135.91B-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-K, filed February 20, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Booking Holdings Inc.'s return on invested capital?
Booking Holdings Inc. (BKNG) reported return on invested capital of 232.5% in Q4 2023.
How has Booking Holdings Inc.'s return on invested capital changed year-over-year?
Booking Holdings Inc.'s return on invested capital increased by 199.1% year-over-year, from 77.7% to 232.5%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.