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Booking Holdings Inc. (NASDAQ:BKNG)

Common-Size Balance Sheet: Assets
Quarterly Data

Booking Holdings Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents 57.99 57.81 58.79 57.42 57.34 57.29 58.34 56.38 57.08 56.37 49.74 51.86 54.98 56.10 48.19 40.89 48.34 47.13 47.07 49.88 47.03 51.37
Short-term investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 1.31 2.37 2.43 2.41 1.42 0.69 0.53 0.00 0.00 0.00 0.00 0.00 0.00
Accounts receivable, net of allowance for expected credit losses 14.63 12.70 13.05 13.96 14.24 12.10 11.55 13.04 13.36 11.89 13.36 13.45 10.56 8.13 8.79 10.35 9.18 7.20 5.74 6.66 5.40 2.48
Prepaid expenses, net 2.02 2.23 2.09 2.01 2.04 1.95 2.12 1.75 2.35 2.66 2.65 2.65 3.20 2.60 1.88 2.77 2.01 1.76 1.71 1.69 1.39 1.21
Other current assets 3.04 2.78 2.15 2.09 2.19 2.03 1.95 2.20 1.69 1.63 1.87 1.69 1.71 1.71 2.74 1.71 1.40 1.43 1.08 3.26 3.92 4.59
Current assets 77.68% 75.52% 76.08% 75.48% 75.81% 73.37% 73.95% 73.38% 74.60% 73.85% 69.98% 72.09% 72.86% 69.95% 62.29% 56.25% 60.93% 57.52% 55.60% 61.49% 57.74% 59.64%
Property and equipment, net 2.58 2.83 2.76 2.84 2.76 3.15 3.00 3.15 3.07 2.90 3.22 2.86 2.76 2.77 2.64 3.98 3.50 3.77 3.48 3.26 3.13 3.10
Operating lease assets 2.00 2.19 2.16 2.10 1.93 2.04 2.02 2.14 2.23 2.39 2.90 2.51 2.29 2.47 2.54 1.82 1.82 2.18 2.10 1.91 1.91 2.03
Intangible assets, net 2.87 3.18 3.14 3.34 4.21 4.90 4.99 5.18 5.25 5.60 6.63 6.48 6.48 7.05 7.21 8.41 7.86 8.92 8.70 7.18 7.22 7.45
Goodwill 9.00 9.60 9.12 9.28 9.30 10.36 10.10 10.14 9.86 10.15 11.61 10.94 10.62 11.17 11.07 12.73 11.60 12.86 12.21 8.02 7.90 7.96
Long-term investments 1.51 1.71 1.99 2.26 1.82 1.98 1.93 1.79 1.64 1.60 1.81 1.64 1.66 3.20 11.00 12.01 9.72 9.83 13.43 14.07 18.09 16.01
Other assets, net 4.35 4.97 4.76 4.68 4.16 4.20 4.00 4.21 3.35 3.51 3.86 3.50 3.34 3.39 3.25 4.80 4.56 4.93 4.48 4.07 4.01 3.81
Long-term assets 22.32% 24.48% 23.92% 24.52% 24.19% 26.63% 26.05% 26.62% 25.40% 26.15% 30.02% 27.91% 27.14% 30.05% 37.71% 43.75% 39.07% 42.48% 44.40% 38.51% 42.26% 40.36%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The asset structure of the organization exhibits a progressive shift toward higher liquidity and a reduced reliance on long-term investments over the analyzed period. Total current assets have expanded from 59.64% of total assets in March 2021 to 77.68% by June 2026, indicating a strategic transition toward a more liquid balance sheet.

Liquidity and Current Asset Trends
Cash and cash equivalents remain the primary asset component, consistently representing approximately half of the total asset base. A notable increase occurred starting in March 2023, with the concentration rising from the 47-51% range seen in 2021 to a peak of 58.79% in September 2025. Simultaneously, accounts receivable have shown a substantial upward trend, growing from 2.48% in March 2021 to 14.63% by June 2026, suggesting an increase in credit-based transactions or changes in collection timelines.
Long-Term Asset Deleveraging
A significant contraction is observed in long-term assets, which declined from 40.36% in March 2021 to 22.32% in June 2026. This is primarily driven by a sharp reduction in long-term investments, which fell from 16.01% to 1.51% over the period. This suggests a reallocation of capital away from long-term strategic holdings toward more liquid instruments.
Intangible Assets and Goodwill
Net intangible assets have experienced a steady decline, moving from 7.45% in March 2021 to 2.87% by June 2026. Goodwill showed more volatility, peaking at 12.86% in March 2022 before gradually moderating to 9.00% by the end of the period. The combined reduction in these categories points to an asset base becoming less dependent on amortized or non-physical assets.
Fixed Asset Stability
Property and equipment, net, and operating lease assets have remained relatively stable as a percentage of total assets. Property and equipment fluctuated within a narrow band between 2.58% and 3.98%, while operating lease assets remained consistent, generally hovering around 2% of the total asset composition.

Overall, the financial profile has evolved from a diversified asset mix to one heavily weighted toward cash and receivables. This evolution reduces the proportion of illiquid long-term investments and intangible assets, resulting in a balance sheet characterized by high immediate liquidity.

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