Stock Analysis on Net
Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

Booking Holdings Inc., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net income1 ÷ Stockholders’ equity (deficit)1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
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Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
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Dec 31, 2013 = 100 × ÷
Dec 31, 2012 = 100 × ÷
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Dec 31, 2009 = 100 × ÷
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Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The return on equity (ROE) exhibited considerable fluctuation over the observed period. Initial values were strong, followed by periods of decline, stabilization, and then significant volatility, culminating in negative equity in recent years.

Initial Growth and Stabilization (2005-2010)
From 2005 to 2010, ROE demonstrated a generally positive trend, although with some variability. It began at 52.22% in 2005, decreased to 21.36% in 2006, and then recovered to reach 37.04% in 2009. The value settled at 29.09% in 2010, indicating a period of stabilization after initial growth.
Moderate Fluctuations (2011-2015)
The period between 2011 and 2015 saw moderate fluctuations in ROE. It peaked at 41.04% in 2011, followed by a decline to 21.74% in 2015. This suggests a period of inconsistent profitability relative to equity during these years.
Significant Volatility and Peak (2016-2019)
From 2016 to 2019, ROE experienced substantial volatility. It decreased to 20.79% in 2016, then surged to an exceptionally high value of 82.00% in 2019, driven by a significant increase in net income relative to equity. The value in 2018 was also notably high at 45.51%.
Dramatic Decline and Negative Equity (2020-2025)
A dramatic shift occurred beginning in 2020. ROE plummeted to 1.21% in 2020, coinciding with a substantial decrease in net income. Subsequently, stockholders’ equity transitioned into a deficit, resulting in a negative ROE from 2022 onwards. The ROE values for 2022, 2023, 2024, and 2025 are not available, but the negative equity position indicates that ROE would remain undefined or negative.

The substantial decline in ROE, coupled with the emergence of negative stockholders’ equity, suggests a significant deterioration in the company’s financial health in recent years. The earlier periods demonstrated a capacity for generating returns, but this has been overshadowed by more recent performance.

Comparison to Competitors

Booking Holdings Inc., ROE, long-term trends, comparison to competitors

Microsoft Excel
Booking Holdings Inc. Airbnb Inc. Chipotle Mexican Grill Inc. DoorDash, Inc. McDonald’s Corp. Starbucks Corp.
Dec 31, 2025
Dec 31, 2024
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Dec 31, 2011
Dec 31, 2010
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Dec 31, 2005

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Consumer Services)

Booking Holdings Inc., ROE, long-term trends, comparison to sector (consumer services)

Microsoft Excel
Booking Holdings Inc. Consumer Services
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
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Dec 31, 2018
Dec 31, 2017
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Dec 31, 2014
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Dec 31, 2005

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Consumer Discretionary)

Booking Holdings Inc., ROE, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel
Booking Holdings Inc. Consumer Discretionary
Dec 31, 2025
Dec 31, 2024
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Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).