Booking Holdings (BKNG) Gross Margin (2009 - 2026)
Booking Holdings (BKNG) posted Gross Margin of 62.62% for Q1 2026, down 10.03% on a QoQ basis from 69.6% in Q4 2025, and down 7.0% year-over-year from 67.33% in Q1 2025.
Booking Holdings (BKNG) Gross Margin (2009 - 2026) Analysis & Trends
Booking Holdings' Gross Margin history runs 18 years deep, the most recent figure standing at 62.62% for Q1 2026.
- Quarterly Gross Margin fell 7.0% year-over-year to 62.62% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 69.38% (up 29.0% YoY) and the FY2025 annual result came in at 69.59%, up 25.0% from the prior year.
- Gross Margin was 62.62% for Q1 2026 at Booking Holdings, down from 69.6% in the prior quarter.
- Across five years, Gross Margin topped out at 74.02% in Q3 2025 and bottomed at 57.44% in Q1 2022.
- A 5-year average of 66.85% and a median of 67.55% in 2022 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin sank 216 bps — and 2023, when it soared 748 bps.
- Booking Holdings' Gross Margin stood at 67.55% in 2022, then rose by 4 bps to 70.05% in 2023, then climbed by 2 bps to 71.16% in 2024, then dropped by 2 bps to 69.6% in 2025, then declined by 10 bps to 62.62% in 2026.
- Business Quant data shows BKNG's Gross Margin at 62.62% in Q1 2026, 69.6% in Q4 2025, and 74.02% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 62.62% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 49.53% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 78.30% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 55.39% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 41.37% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | - |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 89.00% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 40.89% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 79.62% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 58.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 62.62% |
| Dec 31, 2025 | 69.60% |
| Sep 30, 2025 | 74.02% |
| Jun 30, 2025 | 68.53% |
| Mar 31, 2025 | 62.68% |
| Dec 31, 2024 | 71.16% |
| Sep 30, 2024 | 73.09% |
| Jun 30, 2024 | 66.91% |
| Mar 31, 2024 | 63.53% |
| Dec 31, 2023 | 70.05% |
| Sep 30, 2023 | 72.46% |
| Jun 30, 2023 | 67.03% |
| Mar 31, 2023 | 59.85% |
| Dec 31, 2022 | 67.55% |
| Sep 30, 2022 | 70.34% |
| Jun 30, 2022 | 59.55% |
| Mar 31, 2022 | 57.44% |
| Dec 31, 2021 | 67.33% |
| Sep 30, 2021 | 70.53% |
| Jun 30, 2021 | 54.26% |