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Booking Holdings Inc. BKNG Sales & Marketing

Discontinued — last reported Q4 '25

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Segments

By segment

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Reportable Segment$2.07B+16.4%

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+1.9%

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$155.55B-13.3%
Enterprise value$158.47B-12.4%
P/E25.3×-12.0×
P/S5.6×-1.6×

Profitability

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Gross margin98.1%
Operating margin32.6%+0.1pp
Net margin22.2%-0.4pp
FCF margin32.6%-2.6pp

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

Reported directly by Booking Holdings Inc. in its filing.

Tagged under the XBRL concept us-gaap:MarketingExpense.

The source filing: Booking Holdings Inc.’s 10-K, filed February 18, 2026.

Filed
Feb 18, 2026, 5:13 PM EST
Fiscal year
FY2025
Accession
0001075531-26-000009
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Advertising and other revenues1,1941,0731,015
Total revenues26,91723,73921,365
Operating expenses:
Marketing expenses8,1867,2786,773
Sales and other expenses3,4533,1202,744
Personnel, including stock-based compensation of $613, $599, and $530, respectively3,4033,3543,294
General and administrative8571,0361,560
Information technology908771655

Item 16. Form 10-K Summary.

FAQ

What is Booking Holdings Inc.'s sales & marketing?
Booking Holdings Inc. (BKNG) reported sales & marketing of $1.93B in Q4 2025.
How has Booking Holdings Inc.'s sales & marketing changed year-over-year?
Booking Holdings Inc.'s sales & marketing increased by 22.3% year-over-year, from $1.58B to $1.93B.
What is the long-term trend for Booking Holdings Inc.'s sales & marketing?
Over 4 years (2021 to 2025), Booking Holdings Inc.'s sales & marketing has grown at a 21.1% compound annual growth rate (CAGR), from $3.8B to $8.19B.
What does sales & marketing mean?
Costs of selling products and services including sales force compensation, commissions, marketing campaigns, trade shows, and customer acquisition expenses.

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