Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

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Enterprise Value to FCFF (EV/FCFF)

Microsoft Excel

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Free Cash Flow to The Firm (FCFF)

Booking Holdings Inc., FCFF calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income
Net noncash charges
Changes in assets and liabilities, net of effects of acquisitions
Net cash provided by operating activities
Cash paid during the period for interest, net of tax1
Additions to property and equipment
Free cash flow to the firm (FCFF)

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).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Booking Holdings Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Booking Holdings Inc. FCFF increased from 2021 to 2022 and from 2022 to 2023.

Interest Paid, Net of Tax

Booking Holdings Inc., interest paid, net of tax calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Cash paid during the period for interest, before tax
Less: Cash paid during the period for interest, tax2
Cash paid during the period for interest, net of tax

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 See details »

2 2023 Calculation
Cash paid during the period for interest, tax = Cash paid during the period for interest × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Booking Holdings Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Airbnb Inc.
Carnival Corp. & plc
Chipotle Mexican Grill Inc.
McDonald’s Corp.
Starbucks Corp.
EV/FCFF, Sector
Consumer Services
EV/FCFF, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Booking Holdings Inc., historical EV/FCFF 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)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Airbnb Inc.
Carnival Corp. & plc
Chipotle Mexican Grill Inc.
McDonald’s Corp.
Starbucks Corp.
EV/FCFF, Sector
Consumer Services
EV/FCFF, Industry
Consumer Discretionary

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 See details »

2 See details »

3 2023 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Booking Holdings Inc. EV/FCFF ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.