Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Booking Holdings Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
- Aggregate Accruals
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Booking Holdings Inc., consolidated balance sheet: assets
US$ in millions
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).
The financial data reveals several notable trends in the company's asset composition and liquidity over the five-year period ending December 31, 2024.
- Liquidity Position
- Cash and cash equivalents have exhibited a generally increasing trend, rising from $10,562 million in 2020 to $16,164 million in 2024, indicating strengthening liquidity. Short-term investments, while initially declining sharply from $501 million in 2020 to $25 million in 2021, partially rebounded to $576 million by 2023 but are not reported for 2024, suggesting potential reallocation or disposal of these assets.
- Working Capital Components
- Accounts receivable have shown significant growth, escalating from $529 million in 2020 to a peak of $3,253 million in 2023 before a slight decrease to $3,199 million in 2024. This increase may signal expanding sales on credit or slower collections. Prepaid expenses rose steadily from $337 million to $644 million by 2023, with a minor decline to $587 million in 2024. Other current assets display fluctuation, initially decreasing from $277 million in 2020 to $231 million in 2021, then rising notably to $696 million in 2022 and subsequently stabilizing around $500 million in the later years.
- Total Current Assets
- Total current assets show a consistent upward trajectory from $12,206 million in 2020 to $20,491 million in 2024, suggesting an increasing scope of short-term resources available to the company.
- Long-term Assets
- Property and equipment, net, experienced minor fluctuations but generally maintained a stable level, ending slightly higher at $832 million in 2024 compared to $756 million in 2020. Operating lease assets increased from $529 million in 2020 to $705 million in 2023 before dipping to $559 million in 2024, indicating some adjustment in lease agreements or asset usage.
- Intangible Assets and Goodwill
- Intangible assets demonstrate a declining trend, decreasing from $1,812 million in 2020 to $1,382 million by 2024, which might reflect amortization or impairment. Goodwill increased sharply from $1,895 million in 2020 to $2,887 million in 2021, then remained relatively stable around $2,800 million through 2024, suggesting acquisitions or reorganizations in the earlier period with steady conditions afterward.
- Investments and Other Long-Term Assets
- Long-term investments have significantly decreased from $3,759 million in 2020 to $536 million in 2024, showing a substantial divestment or maturation of these assets. Other net long-term assets rose moderately from $917 million to $1,109 million by 2024, indicating incremental additions or revaluations.
- Total Long-term Assets
- Total long-term assets declined from $9,668 million in 2020 to $7,217 million in 2024, mainly due to decreases in intangible assets and long-term investments outweighing moderate increases in property, equipment, and other assets.
- Total Assets
- Total assets increased overall from $21,874 million in 2020 to $27,708 million in 2024, reflecting growth in the asset base primarily driven by expanding current assets, particularly cash and accounts receivable.
In summary, the company's asset structure has shifted towards greater liquidity and current assets over the period, with a simultaneous reduction in certain long-term assets such as intangible assets and long-term investments. This may indicate a strategic focus on maintaining strong liquidity and operational flexibility, potentially supporting growth initiatives or mitigating risks associated with long-term asset holdings.