Booking Holdings (BKNG) Gross Margin (2009 - 2026)
Booking Holdings (BKNG) reported Gross Margin of 62.62% for Q1 2026, down 7.0% on a YoY basis from 67.33% in Q1 2025, and down 10.03% quarter-over-quarter from 69.6% in Q4 2025.
Booking Holdings (BKNG) Gross Margin (2009 - 2026) Analysis & Trends
Booking Holdings has reported Gross Margin for 18 years, with the latest figure at 62.62% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 7.0% year-over-year to 62.62%; the trailing twelve-month figure through Mar 2026 stood at 69.38% (up 29.0% YoY), and the FY2025 full-year result was 69.59%, up 25.0% from the prior year.
- Gross Margin for Q1 2026 stood at 62.62%, down from 69.6% in the prior quarter.
- The five-year high for Gross Margin was 74.02% in Q3 2025, with the low at 57.44% in Q1 2022.
- Historically, Gross Margin has averaged 66.85% across 5 years, with a median of 67.55% in 2022.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 216 bps — and 2023, when it soared 748 bps.
- Booking Holdings' Gross Margin stood at 67.55% in 2022, then grew by 4 bps to 70.05% in 2023, then gained by 2 bps to 71.16% in 2024, then decreased by 2 bps to 69.6% in 2025, then slipped by 10 bps to 62.62% in 2026.
- The last three Gross Margin figures came in at 62.62% (Q1 2026), 69.6% (Q4 2025), and 74.02% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 62.62% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 78.30% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 49.53% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | - |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 89.00% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 40.89% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 85.00% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 96.36% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 78.84% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | - |
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% |