Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Ratios (Summary)
Receivables Turnover
Payables Turnover
Working Capital Turnover
Average Receivable Collection Period
Average Payables Payment Period

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

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Turnover Ratios
	Receivables turnover
	Payables turnover
	Working capital turnover
	Average No. of Days
	Add: Average receivable collection period
	Less: Average payables payment period

Ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Booking Holdings Inc.’s receivables turnover improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Booking Holdings Inc.’s payables turnover declined from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Booking Holdings Inc.’s working capital turnover deteriorated from Q2 2018 to Q3 2018 but then improved from Q3 2018 to Q4 2018 exceeding Q2 2018 level.

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.’s average receivable collection period improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.
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.’s average payables payment period increased from Q2 2018 to Q3 2018 but then declined significantly from Q3 2018 to Q4 2018.

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

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Revenues
	Accounts receivable, net of allowance for doubtful accounts
	Ratio
	Receivables turnover¹

Q4 2018 Calculations

¹ Receivables turnover = (Revenues_{Q4 2018} + Revenues_{Q3 2018} + Revenues_{Q2 2018} + Revenues_{Q1 2018}) ÷ Accounts receivable, net of allowance for doubtful accounts
= ( hidden + hidden + hidden + hidden ) ÷ hidden = hidden

Ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Booking Holdings Inc.’s receivables turnover improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

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

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Cost of revenues
	Accounts payable
	Ratio
	Payables turnover¹

Q4 2018 Calculations

¹ Payables turnover = (Cost of revenues_{Q4 2018} + Cost of revenues_{Q3 2018} + Cost of revenues_{Q2 2018} + Cost of revenues_{Q1 2018}) ÷ Accounts payable
= ( hidden + hidden + hidden + hidden ) ÷ hidden = hidden

Ratio	Description	The company
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Booking Holdings Inc.’s payables turnover declined from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

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

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Current assets
	Less: Current liabilities
	Working capital
	Revenues
	Ratio
	Working capital turnover¹

Q4 2018 Calculations

¹ Working capital turnover = (Revenues_{Q4 2018} + Revenues_{Q3 2018} + Revenues_{Q2 2018} + Revenues_{Q1 2018}) ÷ Working capital
= ( hidden + hidden + hidden + hidden ) ÷ hidden = hidden

Ratio	Description	The company
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Booking Holdings Inc.’s working capital turnover deteriorated from Q2 2018 to Q3 2018 but then improved from Q3 2018 to Q4 2018 exceeding Q2 2018 level.

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

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data
	Receivables turnover
	Ratio (no. of days)
	Average receivable collection period¹

Q4 2018 Calculations

¹ Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ hidden = hidden

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.’s average receivable collection period improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

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

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data
	Payables turnover
	Ratio (no. of days)
	Average payables payment period¹

Q4 2018 Calculations

¹ Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ hidden = hidden

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.’s average payables payment period increased from Q2 2018 to Q3 2018 but then declined significantly from Q3 2018 to Q4 2018.

	Booking Holdings Inc.	Other companies (not purchased previously)
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Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
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Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
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Long-term Trends
Analysis
Financial Reporting Quality

Booking Holdings Inc. (BKNG)

Short-term (Operating) Activity Analysis
Quarterly Data

Ratios (Summary)

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Receivable Collection Period

Average Payables Payment Period

Booking Holdings Inc. (BKNG)

Short-term (Operating) Activity AnalysisQuarterly Data

Ratios (Summary)

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Receivable Collection Period

Average Payables Payment Period

Short-term (Operating) Activity Analysis
Quarterly Data