Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Booking Holdings Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Receivables turnover 6.32 5.87 6.68 6.57 5.98 6.90 8.87 7.67 7.01 6.51 7.77 8.07 5.93 5.57 9.64 12.85 10.36 19.96 21.76 8.97
Payables turnover 5.67 5.70 6.73 6.14 6.83 9.11 8.52 6.82 7.52 6.54 8.32 6.91 6.29 6.98 9.91 9.25 7.99 19.44 15.68 12.16
Working capital turnover 5.99 7.26 6.04 5.77 3.65 2.82 2.77 2.33 4.14 3.16 2.32 1.59 1.07 1.02 0.74 0.77 1.03 1.50 2.83 3.37
Average No. Days
Average receivable collection period 58 62 55 56 61 53 41 48 52 56 47 45 62 66 38 28 35 18 17 41
Average payables payment period 64 64 54 59 53 40 43 54 49 56 44 53 58 52 37 39 46 19 23 30

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Booking Holdings Inc. payables turnover ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Booking Holdings Inc. working capital turnover ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

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 Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
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.

Receivables Turnover

Booking Holdings Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenues 7,994 5,859 4,415 4,784 7,341 5,462 3,778 4,049 6,052 4,294 2,695 2,981 4,676 2,160 1,141 1,238 2,640 630 2,288 3,339 5,040 3,850 2,837
Accounts receivable, net of allowance for expected credit losses 3,649 3,814 3,296 3,253 3,447 2,805 2,048 2,229 2,284 2,249 1,611 1,358 1,555 1,290 586 529 859 566 667 1,680 1,788 1,973 1,491
Short-term Activity Ratio
Receivables turnover1 6.32 5.87 6.68 6.57 5.98 6.90 8.87 7.67 7.01 6.51 7.77 8.07 5.93 5.57 9.64 12.85 10.36 19.96 21.76 8.97
Benchmarks
Receivables Turnover, Competitors2
Airbnb Inc. 51.62 50.75 48.31 39.83 39.84 34.42 38.36 42.00 45.08 36.09 42.42 42.04
Chipotle Mexican Grill Inc. 117.86 109.32 113.59 85.44 134.08 152.24 136.37 80.79 118.06 97.41 87.64 75.77 94.54 90.40 92.26 57.27 83.86 82.63 89.64 69.36
McDonald’s Corp. 4.04 4.10 4.41 3.92 4.22 4.12 4.18 4.14 4.80 5.20 5.93 5.23 5.19 5.07 4.77 3.86 3.46 2.94 5.43 4.24
Starbucks Corp. 31.83 32.90 31.49 30.38 30.71 28.67 28.30 27.44 27.91 31.27 29.45 30.92 29.76 27.09 26.09 26.62 27.31 28.33 29.70 30.15 32.97 36.32 35.04

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Receivables turnover = (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023) ÷ Accounts receivable, net of allowance for expected credit losses
= (7,994 + 5,859 + 4,415 + 4,784) ÷ 3,649 = 6.32

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 Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Payables Turnover

Booking Holdings Inc., payables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenues 7,994 5,859 4,415 4,784 7,341 5,462 3,778 4,049 6,052 4,294 2,695 2,981 4,676 2,160 1,141 1,238 2,640 630 2,288 3,339 5,040 3,850 2,837
Accounts payable 4,065 3,928 3,268 3,480 3,020 2,123 2,132 2,507 2,131 2,240 1,504 1,586 1,466 1,028 570 735 1,114 581 926 1,239 1,275 1,291 934
Short-term Activity Ratio
Payables turnover1 5.67 5.70 6.73 6.14 6.83 9.11 8.52 6.82 7.52 6.54 8.32 6.91 6.29 6.98 9.91 9.25 7.99 19.44 15.68 12.16
Benchmarks
Payables Turnover, Competitors2
Chipotle Mexican Grill Inc. 36.30 38.20 38.02 36.86 34.04 42.59 36.87 35.61 38.60 39.82 36.05 35.79 32.44 38.26 34.83 40.52 30.59 28.88 35.06 38.37
McDonald’s Corp. 8.93 8.77 8.91 7.46 9.30 9.50 9.05 7.53 9.57 10.74 11.40 7.99 10.16 10.42 10.52 9.42 10.18 13.20 11.35 7.85
Starbucks Corp. 16.66 17.76 18.13 16.92 17.11 17.49 18.12 16.57 15.70 17.03 16.81 17.06 17.36 17.82 17.44 18.50 21.71 19.54 17.80 15.99 16.22 16.53 16.25

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Payables turnover = (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023) ÷ Accounts payable
= (7,994 + 5,859 + 4,415 + 4,784) ÷ 4,065 = 5.67

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Working Capital Turnover

Booking Holdings Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 20,529 21,293 20,476 17,034 18,479 19,349 17,632 15,798 12,410 14,924 12,875 13,145 14,352 13,789 14,108 12,206 12,583 11,453 9,260 9,833 10,056 10,020 7,077
Less: Current liabilities 16,678 18,206 16,832 13,330 12,832 12,481 11,070 8,474 8,543 10,282 7,478 6,246 5,779 6,724 6,468 3,425 3,968 3,909 4,136 5,366 5,528 6,349 5,576
Working capital 3,851 3,087 3,644 3,704 5,647 6,868 6,562 7,324 3,867 4,642 5,397 6,899 8,573 7,065 7,640 8,781 8,615 7,544 5,124 4,467 4,528 3,671 1,501
 
Revenues 7,994 5,859 4,415 4,784 7,341 5,462 3,778 4,049 6,052 4,294 2,695 2,981 4,676 2,160 1,141 1,238 2,640 630 2,288 3,339 5,040 3,850 2,837
Short-term Activity Ratio
Working capital turnover1 5.99 7.26 6.04 5.77 3.65 2.82 2.77 2.33 4.14 3.16 2.32 1.59 1.07 1.02 0.74 0.77 1.03 1.50 2.83 3.37
Benchmarks
Working Capital Turnover, Competitors2
Airbnb Inc. 1.55 1.64 1.64 1.51 1.25 1.41 1.31 1.22 1.17 1.13 1.10 0.99
Chipotle Mexican Grill Inc. 17.10 14.35 15.74 16.73 16.40 16.17 24.45 34.00 32.42 37.95 29.78 14.86 10.78 11.18 10.14 10.01 14.20 13.16 13.89 13.77
McDonald’s Corp. 33.38 8.64 3.33 7.11 3.99 5.39 4.03 6.64 23.54 3.13 5.58 5.19 9.32 131.28 18.14 2.58
Starbucks Corp. 18.11 205.59 50.26 48.92 51.17 14.17 11.24

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Working capital turnover = (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023) ÷ Working capital
= (7,994 + 5,859 + 4,415 + 4,784) ÷ 3,851 = 5.99

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 Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

Average Receivable Collection Period

Booking Holdings Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Receivables turnover 6.32 5.87 6.68 6.57 5.98 6.90 8.87 7.67 7.01 6.51 7.77 8.07 5.93 5.57 9.64 12.85 10.36 19.96 21.76 8.97
Short-term Activity Ratio (no. days)
Average receivable collection period1 58 62 55 56 61 53 41 48 52 56 47 45 62 66 38 28 35 18 17 41
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Airbnb Inc. 7 7 8 9 9 11 10 9 8 10 9 9
Chipotle Mexican Grill Inc. 3 3 3 4 3 2 3 5 3 4 4 5 4 4 4 6 4 4 4 5
McDonald’s Corp. 90 89 83 93 87 89 87 88 76 70 62 70 70 72 76 95 106 124 67 86
Starbucks Corp. 11 11 12 12 12 13 13 13 13 12 12 12 12 13 14 14 13 13 12 12 11 10 10

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.32 = 58

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 Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Average Payables Payment Period

Booking Holdings Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Payables turnover 5.67 5.70 6.73 6.14 6.83 9.11 8.52 6.82 7.52 6.54 8.32 6.91 6.29 6.98 9.91 9.25 7.99 19.44 15.68 12.16
Short-term Activity Ratio (no. days)
Average payables payment period1 64 64 54 59 53 40 43 54 49 56 44 53 58 52 37 39 46 19 23 30
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Chipotle Mexican Grill Inc. 10 10 10 10 11 9 10 10 9 9 10 10 11 10 10 9 12 13 10 10
McDonald’s Corp. 41 42 41 49 39 38 40 48 38 34 32 46 36 35 35 39 36 28 32 46
Starbucks Corp. 22 21 20 22 21 21 20 22 23 21 22 21 21 20 21 20 17 19 21 23 23 22 22

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 5.67 = 64

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.