Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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

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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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowance for expected credit losses
Prepaid expenses, net
Other current assets
Current assets
Property and equipment, net
Operating lease assets
Intangible assets, net
Goodwill
Long-term investments
Other assets, net
Long-term assets
Total assets

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Cash and cash equivalents
The proportion of cash and cash equivalents as a percentage of total assets has exhibited a generally stable yet slightly increasing trend over the analyzed quarters. Starting at 35.62% in March 2020, it increased considerably by the end of the period, peaking near 58.34% in December 2024 before slightly declining to 57.29% in March 2025, indicating a strong liquidity position maintained by the company.
Short-term investments
This category showed no values for the earlier periods until a small emergence in late 2022. The proportion rose from 0.53% in December 2022 to a peak of 2.43% in March 2024 before declining to 0.13% in June 2024 and subsequently missing values thereafter. This suggests that short-term investments formed only a minor and relatively recent part of total assets.
Accounts receivable, net of allowance for expected credit losses
Accounts receivable as a percentage of total assets showed an overall increasing pattern from 3.73% in March 2020 to a maximum near 13.45% in September 2023, followed by a moderate decline towards early 2025. This trend indicates a growing level of receivables, potentially due to increasing sales or credit sales policies affecting working capital.
Prepaid expenses, net
Prepaid expenses started appearing only from late 2020 at around 1.54%, demonstrating a slow but steady increase after that, reaching about 2.65% to 3.2% during 2023 before slightly decreasing towards early 2025. This gradual change suggests an increasing advance payment of expenses relative to total assets.
Other current assets
Other current assets witnessed a marked drop after March 2020 (from 12.48% to levels around 1-2%) and have remained relatively low and stable since then, hovering between approximately 1.6% and 2.2%. The initial drop implies a significant reduction or reclassification of asset components within current assets.
Current assets
Current assets consistently represented a significant majority of total assets, rising from 51.84% in March 2020 to as high as 74.6% during mid-2024. The overall upward trend reflects an increasing focus on liquid and short-term assets within the company's asset structure.
Property and equipment, net
The share of property and equipment in total assets has shown minor fluctuations around a low base, starting at 4.03% in early 2020 and generally remaining between about 2.6% and 3.7%, with no strong upward or downward trend, indicating relative stability in fixed physical assets over time.
Operating lease assets
Operating lease assets declined slightly from 3.34% in March 2020 to below 2% by mid-2022, followed by slight increases to around 2.9% in late 2023 before decreasing again to circa 2% in early 2025. This suggests some fluctuation in leased asset holdings but no clear long-term growth or shrinkage trend.
Intangible assets, net
Intangible assets experienced a persistent decline from 10.62% in March 2020 to under 5% by March 2025, reflecting amortization or impairment and possibly a slowing acquisition of new intangible assets.
Goodwill
Goodwill fluctuated over the period, with a notable dip from 13.39% in early 2020 to as low as 7.9% in mid-2021, followed by a moderate recovery peaking near 12.86% in March 2022 and stabilizing around 10-11% afterward. This pattern might be attributed to impairments, acquisitions, and revaluations affecting goodwill components.
Long-term investments
There was a clear decline in long-term investments from a substantial 11.51% in March 2020, peaking above 18% mid-2021, then sharply dropping to approximately 1.6-3.2% range by early 2024 and remaining low thereafter. This indicates divestment or reclassification of long-term assets over time.
Other assets, net
Other assets showed moderate stability, generally ranging around 3-5% with slight fluctuations but no significant trend, suggesting a consistent but minor portion of total assets accounted for by miscellaneous long-term assets.
Long-term assets
The overall share of long-term assets declined from 48.16% in March 2020 to about 26-27% in 2024 and early 2025, indicating a substantial shift in asset composition away from long-term towards current assets.
Total assets
Total assets consistently sum to 100% by definition, serving as a normalization metric for the asset structure described.