Aureus
AExcellent

Booking Holdings Inc. Common St(BKNG)

A

Financial data as of Dec 31, 2025Improving · Consumer Discretionary

FCF Margin33.8%Free Cash Flow / Revenue
Cash Conversion174.1%Operating CF / Net Income
Free Cash Flow$9.1B
Revenue$26.9B
Net Cash-$2.1BNet debt position
Debt / FCF2.1xManageable debt load
Current Ratio1.33Adequate short-term liquidity
YoY FCF Growth+119.7%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (33.8%, 2.1x)
→
+1Strong YoY FCF growth (119.7% YoY)
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (33.8%)
  • Excellent cash conversion (174%)
  • Strong YoY FCF growth (+119.7%)

Concerns

  • Net debt position ($2.1B) — 2.1x FCF, manageable

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin33.8%
Net Margin20.1%
Operating CF Margin35.0%
CapEx Ratio1.2%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$2.1BNet debt position
Debt / FCF2.1xManageable debt load
Current Ratio1.33Adequate liquidity
Debt / Equity0.00Low leverage

Quarterly FCF Trend

+119.7% YoYImproving (+119.7%)

Free cash flow per quarter

Sector Comparison — Consumer Discretionary

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameBooking Holdings Inc. Common St
SectorConsumer Discretionary
Free Cash Flow$9.1B
Revenue$26.9B
Net Income$5.4B
Operating Cash Flow$9.4B
Capital Expenditure$322.0M
FCF Margin33.8%
Cash Conversion Rate174.1%
Net Margin20.1%
Total Debt$19.3B
Total Cash$17.2B
Net Cash-$2.1B
Current Ratio1.33
Debt / Equity0.00
Debt / FCF2.1x
YoY FCF Growth+119.7%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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