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Microsoft Excel LibreOffice Calc

Booking Holdings Inc. (BKNG)


Price to FCFE (P/FCFE)

Intermediate level


Free Cash Flow to Equity (FCFE)

Booking Holdings Inc., FCFE calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net income
Net noncash charges
Changes in assets and liabilities, net of effects of acquisitions
Net cash provided by operating activities
Additions to property and equipment
Acquisition of land-use rights
Proceeds from short-term borrowing
Proceeds from revolving credit facility
Payments related to revolving credit facility
Payment of debt issuance costs, revolving credit facility
Proceeds from the issuance of long-term debt
Payments for conversion of senior notes
Payment of debt
Free cash flow to equity (FCFE)

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
FCFE Free cash flow to equity is the cash flow available to Booking Holdings Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Booking Holdings Inc.’s FCFE increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.

Price to FCFE Ratio, Current

Booking Holdings Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
No. shares of common stock outstanding
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Delta Air Lines Inc.
Marriott International Inc.
McDonald’s Corp.
Starbucks Corp.
P/FCFE, Sector
Travel & Leisure
P/FCFE, Industry
Consumer Services

Based on: 10-K (filing date: 2019-02-27).

1 Click competitor name to see calculations.

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


Price to FCFE Ratio, Historical

Booking Holdings Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
No. shares of common stock outstanding1
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2
FCFE per share3
Share price1, 4
Valuation Ratio
P/FCFE5
Benchmarks
P/FCFE, Competitors6
Delta Air Lines Inc.
Marriott International Inc.
McDonald’s Corp.
Starbucks Corp.
P/FCFE, Sector
Travel & Leisure
P/FCFE, Industry
Consumer Services

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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2018 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =

4 Closing price as at the filing date of Booking Holdings Inc.’s Annual Report.

5 2018 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Booking Holdings Inc.’s P/FCFE ratio decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.