Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Booking Holdings Inc., short-term (operating) activity ratios
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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Booking Holdings Inc. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Booking Holdings Inc. payables turnover ratio decreased from 2021 to 2022 and from 2022 to 2023. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Booking Holdings Inc. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Booking Holdings Inc. number of days of receivables outstanding deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Booking Holdings Inc. number of days of payables outstanding increased from 2021 to 2022 and from 2022 to 2023. |
Receivables Turnover
Booking Holdings Inc., receivables turnover calculation, comparison to benchmarks
| 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) | |
| Accounts receivable, net of allowance for expected credit losses | 3,253) | 2,229) | 1,358) | 529) | 1,680) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 6.57 | 7.67 | 8.07 | 12.85 | 8.97 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Airbnb Inc. | 39.83 | 42.00 | 42.04 | 17.80 | — | |
| Carnival Corp. & plc | 38.84 | 30.81 | 7.76 | 20.49 | 46.90 | |
| Chipotle Mexican Grill Inc. | 85.44 | 80.79 | 75.77 | 57.27 | 69.36 | |
| McDonald’s Corp. | 3.92 | 4.14 | 5.23 | 3.86 | 4.24 | |
| Starbucks Corp. | 30.38 | 27.44 | 30.92 | 26.62 | 30.15 | |
| Receivables Turnover, Sector | ||||||
| Consumer Services | 13.82 | 14.03 | 14.01 | 13.06 | 14.58 | |
| Receivables Turnover, Industry | ||||||
| Consumer Discretionary | 17.96 | 17.99 | 21.11 | 21.76 | 21.69 | |
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
Receivables turnover = Revenues ÷ Accounts receivable, net of allowance for expected credit losses
= 21,365 ÷ 3,253 = 6.57
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Booking Holdings Inc. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Payables Turnover
Booking Holdings Inc., payables turnover calculation, comparison to benchmarks
| 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) | |
| Accounts payable | 3,480) | 2,507) | 1,586) | 735) | 1,239) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 6.14 | 6.82 | 6.91 | 9.25 | 12.16 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Airbnb Inc. | 12.08 | 10.94 | 9.77 | 10.96 | — | |
| Carnival Corp. & plc | 12.26 | 11.20 | 5.84 | 13.21 | 17.08 | |
| Chipotle Mexican Grill Inc. | 36.86 | 35.61 | 35.79 | 40.52 | 38.37 | |
| McDonald’s Corp. | 7.46 | 7.53 | 7.99 | 9.42 | 7.85 | |
| Starbucks Corp. | 16.92 | 16.57 | 17.06 | 18.50 | 15.99 | |
| Payables Turnover, Sector | ||||||
| Consumer Services | 10.35 | 10.82 | 10.51 | 14.03 | 13.80 | |
| Payables Turnover, Industry | ||||||
| Consumer Discretionary | 5.23 | 4.84 | 4.67 | 4.77 | 5.59 | |
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
Payables turnover = Revenues ÷ Accounts payable
= 21,365 ÷ 3,480 = 6.14
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Booking Holdings Inc. payables turnover ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Working Capital Turnover
Booking Holdings Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 17,034) | 15,798) | 13,145) | 12,206) | 9,833) | |
| Less: Current liabilities | 13,330) | 8,474) | 6,246) | 3,425) | 5,366) | |
| Working capital | 3,704) | 7,324) | 6,899) | 8,781) | 4,467) | |
| Revenues | 21,365) | 17,090) | 10,958) | 6,796) | 15,066) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | 5.77 | 2.33 | 1.59 | 0.77 | 3.37 | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Airbnb Inc. | 1.51 | 1.22 | 0.99 | 0.89 | — | |
| Carnival Corp. & plc | — | — | — | 2.98 | — | |
| Chipotle Mexican Grill Inc. | 16.73 | 34.00 | 14.86 | 10.01 | 13.77 | |
| McDonald’s Corp. | 8.64 | 5.39 | 3.13 | 131.28 | — | |
| Starbucks Corp. | — | — | 18.11 | 51.17 | — | |
| Working Capital Turnover, Sector | ||||||
| Consumer Services | 29.13 | 8.05 | 3.65 | 3.43 | — | |
| Working Capital Turnover, Industry | ||||||
| Consumer Discretionary | 16.06 | 19.31 | 10.96 | 13.27 | 32.45 | |
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
Working capital turnover = Revenues ÷ Working capital
= 21,365 ÷ 3,704 = 5.77
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Booking Holdings Inc. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Average Receivable Collection Period
Booking Holdings Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 6.57 | 7.67 | 8.07 | 12.85 | 8.97 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 56 | 48 | 45 | 28 | 41 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Airbnb Inc. | 9 | 9 | 9 | 21 | — | |
| Carnival Corp. & plc | 9 | 12 | 47 | 18 | 8 | |
| Chipotle Mexican Grill Inc. | 4 | 5 | 5 | 6 | 5 | |
| McDonald’s Corp. | 93 | 88 | 70 | 95 | 86 | |
| Starbucks Corp. | 12 | 13 | 12 | 14 | 12 | |
| Average Receivable Collection Period, Sector | ||||||
| Consumer Services | 26 | 26 | 26 | 28 | 25 | |
| Average Receivable Collection Period, Industry | ||||||
| Consumer Discretionary | 20 | 20 | 17 | 17 | 17 | |
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.57 = 56
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Booking Holdings Inc. number of days of receivables outstanding deteriorated from 2021 to 2022 and from 2022 to 2023. |
Average Payables Payment Period
Booking Holdings Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 6.14 | 6.82 | 6.91 | 9.25 | 12.16 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 59 | 54 | 53 | 39 | 30 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Airbnb Inc. | 30 | 33 | 37 | 33 | — | |
| Carnival Corp. & plc | 30 | 33 | 62 | 28 | 21 | |
| Chipotle Mexican Grill Inc. | 10 | 10 | 10 | 9 | 10 | |
| McDonald’s Corp. | 49 | 48 | 46 | 39 | 46 | |
| Starbucks Corp. | 22 | 22 | 21 | 20 | 23 | |
| Average Payables Payment Period, Sector | ||||||
| Consumer Services | 35 | 34 | 35 | 26 | 26 | |
| Average Payables Payment Period, Industry | ||||||
| Consumer Discretionary | 70 | 75 | 78 | 76 | 65 | |
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.14 = 59
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Booking Holdings Inc. number of days of payables outstanding increased from 2021 to 2022 and from 2022 to 2023. |