Stock Analysis on Net
Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Booking Holdings Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Accounts payable 13.80 14.30 9.89 6.71 3.36
Current finance lease liabilities 0.09 0.14 0.08 0.02 0.00
Accrued expenses and other current liabilities 21.73 18.90 12.71 7.45 6.32
Deferred merchant bookings 14.55 13.37 8.77 3.83 1.48
Short-term debt 6.30 8.06 1.97 8.41 4.50
Current liabilities 56.47% 54.76% 33.41% 26.42% 15.66%
Deferred income taxes 1.04 1.06 2.70 3.83 5.15
Non-current operating lease liabilities 1.74 2.46 2.18 1.48 1.67
Long-term U.S. transition tax liability 0.93 2.12 2.80 3.49 4.22
Non-current finance lease liabilities 0.03 0.14 0.13 0.03 0.00
Other long-term liabilities 0.69 0.52 0.55 0.82 0.51
Long-term debt 53.61 50.21 47.26 37.80 50.42
Long-term liabilities 58.04% 56.51% 55.62% 47.45% 61.97%
Total liabilities 114.51% 111.27% 89.03% 73.87% 77.63%
Common stock, $0.008 par value 0.00 0.00 0.00 0.00 0.00
Treasury stock -172.79 -170.18 -122.17 -102.75 -110.30
Additional paid-in capital 27.82 29.48 25.59 26.05 26.75
Retained earnings 131.82 130.76 108.60 103.43 106.46
Accumulated other comprehensive loss -1.35 -1.33 -1.05 -0.61 -0.54
Stockholders’ equity (deficit) -14.51% -11.27% 10.97% 26.13% 22.37%
Total liabilities and stockholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2020-12-31).

Current liabilities
The proportion of current liabilities as a percentage of total liabilities and stockholders’ equity has shown a marked increase over the period analyzed, rising from 15.66% in 2020 to 56.47% in 2024. This substantial growth is driven primarily by significant increases in accrued expenses and other current liabilities, which grew from 6.32% in 2020 to 21.73% in 2024, as well as accounts payable, which increased from 3.36% to 13.8% in the same timeframe. Deferred merchant bookings also contributed, increasing from 1.48% to 14.55%. Short-term debt exhibited volatility, peaking at 8.41% in 2021, declining sharply to 1.97% in 2022, then rising again to 6.3% by 2024.
Long-term liabilities
Long-term liabilities have generally increased, though with some fluctuations. Long-term debt represented a significant portion, rising from 50.42% in 2020 to 53.61% in 2024, after a temporary dip in 2021 to 37.8%. The total long-term liabilities fluctuated but showed an upward trend, moving from 61.97% in 2020 to 58.04% in 2024, indicating a stable and substantial commitment in the long-term obligations. There has been a decline in specific items such as the long-term U.S. transition tax liability, which decreased steadily from 4.22% in 2020 to less than 1% in 2024.
Total liabilities and stockholders’ equity
Total liabilities as a percentage of the combined total have increased considerably from 77.63% in 2020 to 114.51% in 2024. This indicates that liabilities increasingly exceed the sum of liabilities and stockholders’ equity, suggesting a possible deficit in equity or growth in leverage over the period.
Stockholders’ equity
Stockholders’ equity displays a declining trend, shifting from 22.37% in 2020 to a negative position of -14.51% in 2024. The decline likely reflects the increasing use of treasury stock, which has intensified from -110.3% to -172.79%, substantially detracting from equity. Despite retained earnings growing from 106.46% to 131.82%, the overall equity effect is negative, as the declining trend in equity indicates accumulated losses or distributions exceeding earnings and paid-in capital.
Other observations
Additional paid-in capital remained relatively stable, fluctuating slightly around 26-29%. Accumulated other comprehensive loss increased in magnitude, indicating rising unrealized losses or adjustments, moving from -0.54% to -1.35%. Operating and finance lease liabilities collectively present a small, relatively stable portion of total liabilities and equity.