Booking Holdings (BKNG) Operating Expenses (2009 - 2026)
Booking Holdings (BKNG) reported Operating Expenses of $4.3 billion for Q1 2026, up 15.16% on a YoY basis from $3.7 billion in Q1 2025, and down 1.34% quarter-over-quarter from $4.3 billion in Q4 2025.
Booking Holdings (BKNG) Operating Expenses (2009 - 2026) Analysis & Trends
Booking Holdings has reported Operating Expenses for 18 years, with the latest figure at $4.3 billion in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 15.16% year-over-year to $4.3 billion; the trailing twelve-month figure through Mar 2026 stood at $18.7 billion (up 14.72% YoY), and the FY2025 full-year result was $18.1 billion, up 11.79% from the prior year.
- Operating Expenses for Q1 2026 stood at $4.3 billion, down from $4.3 billion in the prior quarter.
- The five-year high for Operating Expenses was $5.5 billion in Q3 2025, with the low at $2.5 billion in Q1 2022.
- Historically, Operating Expenses has averaged $3.9 billion across 5 years, with a median of $3.8 billion in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 73.62% — and 2024, when it fell 10.37%.
- Booking Holdings' Operating Expenses stood at $2.7 billion in 2022, then jumped by 54.4% to $4.2 billion in 2023, then slipped by 10.37% to $3.7 billion in 2024, then increased by 15.42% to $4.3 billion in 2025, then dropped by 1.34% to $4.3 billion in 2026.
- The last three Operating Expenses figures came in at $4.3 billion (Q1 2026), $4.3 billion (Q4 2025), and $5.5 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 4.26 Bn |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 2.59 Bn |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 582.00 Mn |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 3.94 Bn |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 797.00 Mn |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 720.40 Mn |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 837.00 Mn |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 802.00 Mn |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | -1.38 Bn |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.26 Bn |
| Dec 31, 2025 | 4.32 Bn |
| Sep 30, 2025 | 5.53 Bn |
| Jun 30, 2025 | 4.55 Bn |
| Mar 31, 2025 | 3.70 Bn |
| Dec 31, 2024 | 3.74 Bn |
| Sep 30, 2024 | 4.82 Bn |
| Jun 30, 2024 | 4.00 Bn |
| Mar 31, 2024 | 3.62 Bn |
| Dec 31, 2023 | 4.18 Bn |
| Sep 30, 2023 | 4.24 Bn |
| Jun 30, 2023 | 3.79 Bn |
| Mar 31, 2023 | 3.33 Bn |
| Dec 31, 2022 | 2.70 Bn |
| Sep 30, 2022 | 3.47 Bn |
| Jun 30, 2022 | 3.29 Bn |
| Mar 31, 2022 | 2.52 Bn |
| Dec 31, 2021 | 2.13 Bn |
| Sep 30, 2021 | 2.66 Bn |
| Jun 30, 2021 | 2.22 Bn |