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Booking Holdings Inc. (BKNG)
Enterprise Value to FCFF (EV/FCFF)
Difficulty: Intermediate
Free Cash Flow to The Firm (FCFF)
Booking Holdings Inc., FCFF calculation
USD $ in millions
Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Booking Holdings Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Booking Holdings Inc.’s FCFF increased from 2016 to 2017 and from 2017 to 2018. |
Interest Paid, Net of Tax
Booking Holdings Inc., interest paid, net of tax calculation
USD $ in millions
Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).
2 2018 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
| Selected Financial Data (USD $ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Delta Air Lines Inc. | |
| Marriott International Inc. | |
| McDonald’s Corp. | |
| Starbucks Corp. | |
| EV/FCFF, Sector | |
| Travel & Leisure | |
| EV/FCFF, Industry | |
| Consumer Services | |
Based on: 10-K (filing date: 2019-02-27).
1 Click competitor name to see calculations.
If company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if 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
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| EV/FCFF, Competitors4 | ||||||
| Delta Air Lines Inc. | |
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| Marriott International Inc. | |
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| McDonald’s Corp. | |
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| Starbucks Corp. | |
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| EV/FCFF, Sector | ||||||
| Travel & Leisure | |
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| EV/FCFF, Industry | ||||||
| Consumer Services | |
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Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).
3 2018 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =
4 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Booking Holdings Inc.’s EV/FCFF ratio declined from 2016 to 2017 and from 2017 to 2018. |