Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Current Valuation Ratios
Historical Valuation Ratios (Summary)
Price to Earnings (P/E)
Price to Operating Profit (P/OP)
Price to Sales (P/S)
Price to Book Value (P/BV)

Booking Holdings Inc., current price multiples

	Booking Holdings Inc.	Amazon.com Inc.	Home Depot Inc.	Lowe’s Cos. Inc.	Target Corp.	TJX Cos. Inc.	Retailing	Consumer Discretionary
Selected Financial Data
Current share price (P)	$2,263.07
No. shares of common stock outstanding	41,052,813
Growth rate (g)	31.89%

Earnings per share (EPS)	$1.44
Next year expected EPS	$1.90
Operating profit per share	$-15.37
Sales per share	$165.54
Book value per share (BVPS)	$119.19
Valuation Ratios (Price Multiples)
Price to earnings (P/E)	1,574.67	81.66	25.42	22.88	26.48	865.62	57.27	62.82
Price to next year expected earnings	1,193.92	68.61	9.00	12.94	22.95	621.13	44.89	51.43
Price-earnings-growth (PEG)	49.38	4.29	0.14	0.30	1.72	21.99	2.08	2.83
Price to sales (P/S)	13.67	4.51	2.48	1.49	1.25	2.44	3.59	4.03
Price to book value (P/BV)	18.99	18.65	99.14	92.91	8.01	13.43	21.66	21.10

Based on: 10-K (filing date: 2021-02-24).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

Booking Holdings Inc., historical price multiples

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Price to earnings (P/E)	1,696.44	14.16	21.46	39.30	37.59
Price to operating profit (P/OP)	—	12.89	16.06	20.27	27.61
Price to sales (P/S)	14.73	4.57	5.91	7.25	7.47
Price to book value (P/BV)	20.46	11.61	9.77	8.17	8.17

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27).

Valuation ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Booking Holdings Inc.’s P/E ratio decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Booking Holdings Inc.’s P/S ratio decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Booking Holdings Inc.’s P/BV ratio increased from 2018 to 2019 and from 2019 to 2020.

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

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
No. shares of common stock outstanding¹	40,961,796	41,061,814	45,012,725	48,288,592	49,170,417
Selected Financial Data (US$)
Net income (in millions)	59	4,865	3,998	2,341	2,135
Earnings per share (EPS)²	1.44	118.48	88.82	48.47	43.42
Share price^1, 3	2,443.50	1,678.20	1,906.00	1,905.01	1,632.01
Valuation Ratio
P/E ratio⁴	1,696.44	14.16	21.46	39.30	37.59
Benchmarks
P/E Ratio, Competitors⁵
Amazon.com Inc.	78.20	86.29	79.30	228.24	166.53
Home Depot Inc.	17.38	18.87	23.51	22.37	23.32
Lowe’s Cos. Inc.	11.96	37.80	20.26	22.62	26.67
Target Corp.	16.12	13.56	12.97	11.11	14.61
TJX Cos. Inc.	17.13	21.11	20.19	22.11	22.87
P/E Ratio, Sector
Retailing	48.86	40.98	39.38	51.89	40.99
P/E Ratio, Industry
Consumer Discretionary	58.88	37.25	33.43	55.10	29.79

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27).

¹ Data adjusted for splits and stock dividends.

² 2020 Calculation
EPS = Net income ÷ No. shares of common stock outstanding
= 59,000,000 ÷ 40,961,796 = 1.44

³ Closing price as at the filing date of Booking Holdings Inc.’s Annual Report.

⁴ 2020 Calculation
P/E ratio = Share price ÷ EPS
= 2,443.50 ÷ 1.44 = 1,696.44

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Booking Holdings Inc.’s P/E ratio decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

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

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
No. shares of common stock outstanding¹	40,961,796	41,061,814	45,012,725	48,288,592	49,170,417
Selected Financial Data (US$)
Operating income (loss) (in millions)	(631)	5,345	5,341	4,538	2,906
Operating profit per share²	-15.40	130.17	118.66	93.98	59.11
Share price^1, 3	2,443.50	1,678.20	1,906.00	1,905.01	1,632.01
Valuation Ratio
P/OP ratio⁴	—	12.89	16.06	20.27	27.61
Benchmarks
P/OP Ratio, Competitors⁵
Amazon.com Inc.	72.84	68.77	64.31	168.59	94.32
Home Depot Inc.	12.33	13.51	13.82	13.26	13.88
Lowe’s Cos. Inc.	8.11	21.77	10.61	11.97	13.66
Target Corp.	11.35	9.69	8.83	6.12	8.88
TJX Cos. Inc.	12.69	15.31	13.54	13.20	14.06
P/OP Ratio, Sector
Retailing	39.69	30.79	26.43	30.31	24.42
P/OP Ratio, Industry
Consumer Discretionary	46.57	28.95	24.92	24.22	20.27

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27).

¹ Data adjusted for splits and stock dividends.

² 2020 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= -631,000,000 ÷ 40,961,796 = -15.40

³ Closing price as at the filing date of Booking Holdings Inc.’s Annual Report.

⁴ 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 2,443.50 ÷ -15.40 = —

⁵ Click competitor name to see calculations.

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

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
No. shares of common stock outstanding¹	40,961,796	41,061,814	45,012,725	48,288,592	49,170,417
Selected Financial Data (US$)
Revenues (in millions)	6,796	15,066	14,527	12,681	10,743
Sales per share²	165.91	366.91	322.73	262.61	218.49
Share price^1, 3	2,443.50	1,678.20	1,906.00	1,905.01	1,632.01
Valuation Ratio
P/S ratio⁴	14.73	4.57	5.91	7.25	7.47
Benchmarks
P/S Ratio, Competitors⁵
Amazon.com Inc.	4.32	3.56	3.43	3.89	2.90
Home Depot Inc.	1.77	1.94	2.01	1.88	1.85
Lowe’s Cos. Inc.	0.71	1.23	1.02	1.08	1.15
Target Corp.	0.69	0.53	0.53	0.44	0.67
TJX Cos. Inc.	1.34	1.66	1.47	1.53	1.68
P/S Ratio, Sector
Retailing	3.06	2.50	2.38	2.46	2.02
P/S Ratio, Industry
Consumer Discretionary	3.78	2.50	2.24	2.27	1.85

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27).

¹ Data adjusted for splits and stock dividends.

² 2020 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= 6,796,000,000 ÷ 40,961,796 = 165.91

³ Closing price as at the filing date of Booking Holdings Inc.’s Annual Report.

⁴ 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 2,443.50 ÷ 165.91 = 14.73

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Booking Holdings Inc.’s P/S ratio decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

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

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
No. shares of common stock outstanding¹	40,961,796	41,061,814	45,012,725	48,288,592	49,170,417
Selected Financial Data (US$)
Stockholders’ equity (in millions)	4,893	5,933	8,785	11,261	9,820
Book value per share (BVPS)²	119.45	144.49	195.17	233.19	199.72
Share price^1, 3	2,443.50	1,678.20	1,906.00	1,905.01	1,632.01
Valuation Ratio
P/BV ratio⁴	20.46	11.61	9.77	8.17	8.17
Benchmarks
P/BV Ratio, Competitors⁵
Amazon.com Inc.	17.86	16.11	18.34	24.98	20.47
Home Depot Inc.	—	—	139.52	41.08	25.88
Lowe’s Cos. Inc.	25.96	24.01	11.89	10.87	8.87
Target Corp.	4.47	3.52	3.25	2.78	3.79
TJX Cos. Inc.	9.42	12.79	10.23	11.27	12.09
P/BV Ratio, Sector
Retailing	18.48	17.08	16.31	17.08	13.39
P/BV Ratio, Industry
Consumer Discretionary	19.77	15.94	13.64	12.93	9.48

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27).

¹ Data adjusted for splits and stock dividends.

² 2020 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 4,893,000,000 ÷ 40,961,796 = 119.45

³ Closing price as at the filing date of Booking Holdings Inc.’s Annual Report.

⁴ 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 2,443.50 ÷ 119.45 = 20.46

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Booking Holdings Inc.’s P/BV ratio increased from 2018 to 2019 and from 2019 to 2020.

Booking Holdings Inc. (NASDAQ:BKNG)

Common Stock Valuation Ratios (Price Multiples)

Current Valuation Ratios

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)