Enterprise Value (EV)
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Booking Holdings Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
- Aggregate Accruals
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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: 2024-12-31).
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: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Booking Holdings Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common Equity (Market Value) and Total Equity
- The common equity and total equity show a generally positive trend over the five-year period. Starting at approximately $100.1 billion in 2020 and 2021, the value decreased to around $91.4 billion in 2022. However, a notable rebound occurred in 2023 and 2024, with equity rising significantly to $133.3 billion and $164.7 billion respectively. This indicates strengthening shareholder value and improved capital structure in the latter years.
- Total Equity and Debt
- Total equity and debt experienced a similar pattern. After maintaining stability around $112.1 billion in 2020 and $111.9 billion in 2021, the figure declined to about $103.9 billion in 2022. Thereafter, a solid upward movement occurred, reaching $147.6 billion in 2023 and further increasing to $181.3 billion in 2024. This suggests an expansion of the company’s capital base and possibly increased leveraging or debt financing aligned with growth strategies.
- Enterprise Value (EV)
- The enterprise value closely mirrors the trends observed in total equity and debt. EV decreased slightly from approximately $101.0 billion in 2020 to $91.5 billion in 2022, followed by a recovery and increase to $134.9 billion in 2023 and $165.1 billion in 2024. This rebound in EV reflects enhanced market valuation, stronger operational performance, or improved investor confidence in the company over the latter part of the analyzed period.
- Summary and Insights
- The financial data shows a dip in key valuation metrics in 2022, followed by a robust recovery and growth through 2023 and 2024. The increase in equity, equity plus debt, and enterprise value signals strengthening financial health and market perception. The recovery phase suggests that any challenges faced around 2022 were successfully addressed, potentially through strategic initiatives, operational improvements, or favorable market conditions. Overall, the trends depict positive momentum in capital structure and valuation metrics towards the end of the period.