Is the business good?
How good a business is BKNG?
Booking Holdings keeps 33% of every revenue dollar as operating profit, against 16% for the median Travel Services name.
33%
Operating margin · Travel Services median 16% · 12 months to Q2 2026
- Cash conversion
- 1.32×
Cash conversion · 1.92× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −5.5%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −9.3% |
| FY2021 | 23% |
| FY2022 | 30% |
| FY2023 | 27% |
| FY2024 | 32% |
| FY2025 | 33% |
Details›
- Operating margin12 months to Q2 2026
- 33%
- Net margin12 months to Q2 2026
- 26%
- Free cash flow margin
- 34%
- Revenue, trailing twelve months
- $28.2B
- Free cash flow, trailing twelve months
- $9.54B
- Net income, trailing twelve months
- $7.21B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Travel Services
Ranks #1 of 11 by Smart Score