Enterprise Value (EV)
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Booking Holdings Inc. pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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Current Enterprise Value (EV)
Booking Holdings Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Total equity | |
| Add: Current finance lease liabilities (per books) | |
| Add: Short-term debt (per books) | |
| Add: Non-current finance lease liabilities (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Booking Holdings Inc., EV calculation
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Booking Holdings Inc. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The information presents a five-year trend of several financial metrics, including common equity market value, total equity, total equity and debt, and enterprise value. A generally increasing trend is observed across most metrics from 2021 to 2024, followed by a decrease in 2025.
- Enterprise Value (EV) Trend
- Enterprise value demonstrates an initial decline from $100,770 million in 2021 to $91,495 million in 2022. Subsequently, a substantial increase is noted, rising to $134,904 million in 2023 and further to $165,141 million in 2024. In 2025, enterprise value decreased to $136,784 million, representing a notable pullback from the 2024 peak.
- Equity and Debt Relationship
- Total equity and debt generally follows the trend of enterprise value, increasing from $111,922 million in 2021 to $181,305 million in 2024, before decreasing to $153,987 million in 2025. This suggests a correlation between the company’s overall capitalization and its enterprise value.
- Common Equity and Total Equity
- Common equity (market value) and total equity exhibit identical values across all reported years. This indicates that all equity is represented by common stock and there are no other equity components reported within this framework.
The fluctuations in enterprise value, particularly the decline in 2025, warrant further investigation to understand the underlying drivers, such as changes in market conditions, debt levels, or investor sentiment. The consistent relationship between total equity and debt and enterprise value suggests that changes in capitalization significantly impact the company’s overall valuation.