Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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

Microsoft Excel
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
Accounts payable
Accrued expenses and other current liabilities
Deferred merchant bookings
Short-term debt
Current liabilities
Deferred income taxes
Non-current operating lease liabilities
Long-term U.S. transition tax liability
Other long-term liabilities
Long-term debt
Long-term liabilities
Total liabilities
Convertible debt
Common stock, $0.008 par value
Treasury stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Stockholders’ equity (deficit)
Total liabilities and stockholders’ equity (deficit)

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).


Current Liabilities Trend
Current liabilities as a percentage of total liabilities and stockholders’ equity show a notable increasing trend from the start of the period through the subsequent years. Beginning at 23.16% on March 31, 2020, the ratio initially decreased to around 15.66% by December 31, 2020. Following that, a substantial rise occurred, reaching a peak of 63.79% by June 30, 2024. This suggests a growing reliance on current liabilities within the company’s financial structure over these periods.
Accounts Payable and Accrued Expenses
Accounts payable percentages display some fluctuation, initially falling from 5.18% in Q1 2020 to a low near 2.41% in Q1 2021, then generally trending upwards to 14.53% by Q4 2024, indicating increasing short-term obligations towards suppliers. Accrued expenses and other current liabilities similarly rose from a range near 6-7% in 2020 to over 21% in March 2025, reflecting a growing portion of accrued obligations in liabilities.
Deferred Merchant Bookings and Short-Term Debt
Deferred merchant bookings exhibit volatility with a sharp increase starting in early 2022, peaking at 25.27% in March 2025. This indicates a significant accumulation of unearned revenue over time. Short-term debt shows inconsistency, spiking dramatically to 16.51% at Q1 2021, then declining to lows around 2.41% as of March 2025, reflecting a possible reduction in short-term borrowings towards the end of the timeframe.
Long-Term Debt and Liabilities
Long-term debt as a percentage of total liabilities and stockholders’ equity fluctuates between approximately 33% and 56%. After a decrease from 50.85% in Q2 2020 to about 33.44% in mid-2022, it subsequently climbs steadily, reaching 56.52% by March 2025. Total long-term liabilities follow a similar pattern, moving between roughly 41.68% and 62.19%, indicating persistent and potentially increasing reliance on long-term financing sources.
Stockholders' Equity
Stockholders’ equity shows a declining trend overtime, starting around 21.45% in early 2020 and decreasing continuously to a negative 22.48% by March 2025. This indicates an erosion of equity that could be attributed to sustained losses or distributions exceeding earnings, negatively impacting the company’s net worth relative to total obligations.
Treasury Stock
Treasury stock shows an increasing absolute level (more negative value) from -135.01% to -184.37%, suggesting substantial repurchases or holdings of the company’s own shares, which affects the overall equity base negatively due to being recorded as a contra-equity account.
Deferred Income Taxes and Other Key Liabilities
Deferred income taxes as a percentage decreased notably from near 4.4% to under 1% over the period, reflecting changes in tax liabilities or asset valuation. Other long-term liabilities remain relatively low but display some growth towards the end of the period, especially a sharp rise to 2.4% in March 2025, hinting at emerging or accumulating obligations outside typical debt categories.
Total Liabilities
Total liabilities as a percentage of total liabilities and stockholders’ equity increase from approximately 78.53% at the beginning to 122.48% by March 2025. This increase past 100% highlights the escalation of liabilities relative to equity, consistent with the declining equity trend and indicating a potentially higher leverage position over time.
Overall Financial Structure
The overall data depicts a transition toward greater financial leverage, with current and long-term liabilities growing as proportions of the total capital base while equity components diminish. This shift points to increasing dependency on creditor financing and potential pressure on liquidity and solvency positions if not managed prudently.