Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Booking Holdings Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 27.25 25.55 13.33 8.99 20.41
Net fixed asset turnover (including operating lease, right-of-use asset) 14.35 13.01 8.31 5.29 11.09
Total asset turnover 0.88 0.67 0.46 0.31 0.70
Equity turnover 6.14 1.77 1.39 2.54

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Booking Holdings Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Booking Holdings Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Booking Holdings Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover

Booking Holdings Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,365 17,090 10,958 6,796 15,066
Property and equipment, net 784 669 822 756 738
Long-term Activity Ratio
Net fixed asset turnover1 27.25 25.55 13.33 8.99 20.41
Benchmarks
Net Fixed Asset Turnover, Competitors2
Airbnb Inc. 61.98 69.41 38.27 12.50
Carnival Corp. & plc 0.54 0.31 0.05 0.15 0.55
Chipotle Mexican Grill Inc. 4.55 4.43 4.27 3.78 3.83
McDonald’s Corp. 0.95 0.92 0.94 0.77 0.87
Starbucks Corp. 4.87 4.92 4.56 3.77 4.12
Net Fixed Asset Turnover, Sector
Consumer Services 1.61 1.39 1.09 0.90 1.26
Net Fixed Asset Turnover, Industry
Consumer Discretionary 3.25 3.18 2.99 3.00 3.29

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 21,365 ÷ 784 = 27.25

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Booking Holdings Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Booking Holdings Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,365 17,090 10,958 6,796 15,066
 
Property and equipment, net 784 669 822 756 738
Operating lease assets 705 645 496 529 620
Property and equipment, net (including operating lease, right-of-use asset) 1,489 1,314 1,318 1,285 1,358
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 14.35 13.01 8.31 5.29 11.09
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Airbnb Inc. 35.54 32.43 13.98 5.16
Carnival Corp. & plc 0.52 0.30 0.05 0.14 0.55
Chipotle Mexican Grill Inc. 1.72 1.64 1.54 1.38 1.41
McDonald’s Corp. 0.66 0.64 0.61 0.50 0.56
Starbucks Corp. 2.28 2.21 1.99 1.64 4.12
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Consumer Services 1.20 1.04 0.80 0.65 1.02
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Discretionary 2.53 2.49 2.32 2.34 2.83

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 21,365 ÷ 1,489 = 14.35

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Booking Holdings Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.

Total Asset Turnover

Booking Holdings Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,365 17,090 10,958 6,796 15,066
Total assets 24,342 25,361 23,641 21,874 21,402
Long-term Activity Ratio
Total asset turnover1 0.88 0.67 0.46 0.31 0.70
Benchmarks
Total Asset Turnover, Competitors2
Airbnb Inc. 0.48 0.52 0.44 0.32
Carnival Corp. & plc 0.44 0.24 0.04 0.10 0.46
Chipotle Mexican Grill Inc. 1.23 1.25 1.13 1.00 1.09
McDonald’s Corp. 0.45 0.46 0.43 0.36 0.44
Starbucks Corp. 1.22 1.15 0.93 0.80 1.38
Total Asset Turnover, Sector
Consumer Services 0.66 0.57 0.43 0.37 0.64
Total Asset Turnover, Industry
Consumer Discretionary 0.95 0.93 0.84 0.81 0.92

Based on: 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).

1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= 21,365 ÷ 24,342 = 0.88

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Booking Holdings Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

Booking Holdings Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues 21,365 17,090 10,958 6,796 15,066
Stockholders’ equity (deficit) (2,744) 2,782 6,178 4,893 5,933
Long-term Activity Ratio
Equity turnover1 6.14 1.77 1.39 2.54
Benchmarks
Equity Turnover, Competitors2
Airbnb Inc. 1.21 1.51 1.25 1.16
Carnival Corp. & plc 3.14 1.72 0.16 0.27 0.82
Chipotle Mexican Grill Inc. 3.22 3.65 3.29 2.96 3.32
McDonald’s Corp.
Starbucks Corp.
Equity Turnover, Sector
Consumer Services 46.63 33.19 5.09 4.37 4.80
Equity Turnover, Industry
Consumer Discretionary 3.84 4.14 3.59 4.39 5.11

Based on: 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).

1 2023 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity (deficit)
= 21,365 ÷ -2,744 =

2 Click competitor name to see calculations.