Booking Holdings (BKNG) FCF Margin (2009 - 2026)
Booking Holdings (BKNG) reported FCF Margin of 56.18% for Q1 2026, down 1022.0% on a YoY basis from 6.09% in Q1 2025, and up 151.73% quarter-over-quarter from 22.32% in Q4 2025.
Booking Holdings (BKNG) FCF Margin (2009 - 2026) Analysis & Trends
Booking Holdings has reported FCF Margin for 18 years, with the latest figure at 56.18% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin fell 1022.0% year-over-year to 56.18%; the trailing twelve-month figure through Mar 2026 stood at 32.63% (down 259.0% YoY), and the FY2025 full-year result was 33.76%, up 51.0% from the prior year.
- FCF Margin for Q1 2026 stood at 56.18%, up from 22.32% in the prior quarter.
- The five-year high for FCF Margin was 74.14% in Q1 2023, with the low at 1.59% in Q3 2022.
- Historically, FCF Margin has averaged 39.02% across 5 years, with a median of 40.6% in 2024.
- The largest YoY upside for FCF Margin was 8269 bps in 2022 against a maximum downside of 3403 bps in 2022.
- Booking Holdings' FCF Margin stood at 51.82% in 2022, then slumped by 49 bps to 26.17% in 2023, then plunged by 55 bps to 11.79% in 2024, then jumped by 89 bps to 22.32% in 2025, then jumped by 152 bps to 56.18% in 2026.
- The last three FCF Margin figures came in at 56.18% (Q1 2026), 22.32% (Q4 2025), and 15.22% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 56.18% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 63.78% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 37.94% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 11.31% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 109.37% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | -26.82% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | -6.19% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 1.98% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | - |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | 18.57% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 56.18% |
| Dec 31, 2025 | 22.32% |
| Sep 30, 2025 | 15.22% |
| Jun 30, 2025 | 46.15% |
| Mar 31, 2025 | 66.40% |
| Dec 31, 2024 | 11.79% |
| Sep 30, 2024 | 28.72% |
| Jun 30, 2024 | 40.60% |
| Mar 31, 2024 | 58.30% |
| Dec 31, 2023 | 26.17% |
| Sep 30, 2023 | 17.72% |
| Jun 30, 2023 | 30.12% |
| Mar 31, 2023 | 74.14% |
| Dec 31, 2022 | 51.82% |
| Sep 30, 2022 | -1.59% |
| Jun 30, 2022 | 60.50% |
| Mar 31, 2022 | 58.85% |
| Dec 31, 2021 | 5.97% |
| Sep 30, 2021 | 32.44% |
| Jun 30, 2021 | 50.60% |