Booking Holdings (BKNG) EBITDA Margin (2009 - 2026)
Booking Holdings (BKNG) reported EBITDA Margin of 22.98% for Q1 2026, up 67.0% on a YoY basis from 13.76% in Q1 2025, and down 28.14% quarter-over-quarter from 31.97% in Q4 2025.
Booking Holdings (BKNG) EBITDA Margin (2009 - 2026) Analysis & Trends
Booking Holdings has reported EBITDA Margin for 18 years, with the latest figure at 22.98% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 67.0% year-over-year to 22.98%; the trailing twelve-month figure through Mar 2026 stood at 32.63% (up 14.0% YoY), and the FY2025 full-year result was 32.79%, up 96.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 22.98%, down from 31.97% in the prior quarter.
- The five-year high for EBITDA Margin was 42.68% in Q3 2022, with the low at 6.46% in Q1 2022.
- Historically, EBITDA Margin has averaged 27.83% across 5 years, with a median of 31.6% in 2024.
- Annual changes were most pronounced in 2022 — EBITDA Margin soared 3371 bps — and 2023, when it sank 2049 bps.
- Booking Holdings' EBITDA Margin stood at 33.22% in 2022, then sank by 62 bps to 12.73% in 2023, then jumped by 148 bps to 31.6% in 2024, then gained by 1 bps to 31.97% in 2025, then fell by 28 bps to 22.98% in 2026.
- The last three EBITDA Margin figures came in at 22.98% (Q1 2026), 31.97% (Q4 2025), and 38.67% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 22.98% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 3.21% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 26.08% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 9.85% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 13.78% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 9.99% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 0.36% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 16.55% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 22.20% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | -4.59% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 22.98% |
| Dec 31, 2025 | 31.97% |
| Sep 30, 2025 | 38.67% |
| Jun 30, 2025 | 33.10% |
| Mar 31, 2025 | 22.30% |
| Dec 31, 2024 | 31.60% |
| Sep 30, 2024 | 39.77% |
| Jun 30, 2024 | 31.68% |
| Mar 31, 2024 | 17.92% |
| Dec 31, 2023 | 12.73% |
| Sep 30, 2023 | 42.27% |
| Jun 30, 2023 | 30.63% |
| Mar 31, 2023 | 11.91% |
| Dec 31, 2022 | 33.22% |
| Sep 30, 2022 | 42.68% |
| Jun 30, 2022 | 23.29% |
| Mar 31, 2022 | 6.46% |
| Dec 31, 2021 | 28.45% |
| Sep 30, 2021 | 43.09% |
| Jun 30, 2021 | -2.59% |