Analysis of Revenues
Revenues as Reported
Booking Holdings Inc., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenues | 26,917) | 23,739) | 21,365) | 17,090) | 10,958) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Revenues demonstrate a consistent upward trajectory over the five-year period. A significant increase is observed between 2021 and 2022, followed by continued, albeit moderating, growth through 2025.
- Overall Growth
- Revenues increased from US$10,958 million in 2021 to US$26,917 million in 2025, representing a cumulative growth of approximately 145.7%. This indicates a substantial expansion of the company’s top line over the analyzed timeframe.
- Year-over-Year Growth Rates
- The most substantial year-over-year growth occurred between 2021 and 2022, with revenues increasing by 56.2%. Growth continued in 2023 at a rate of 24.8%, then slowed to 10.9% in 2024, and further to 13.4% in 2025. This suggests that while revenue is still increasing, the rate of expansion is diminishing.
- Growth Pattern
- The initial surge in revenue from 2021 to 2022 may reflect a recovery from prior conditions. Subsequent years show continued growth, but at decreasing percentages, potentially indicating a maturing market or increased competition. The growth rate in 2025 represents a stabilization after the deceleration observed in 2024.
The consistent revenue growth suggests effective strategies in capturing market share or increasing sales volume. However, the decreasing growth rates warrant further investigation to understand the underlying factors and potential implications for future performance.