Added to YB: 2025-11-11
Pitch date: 2025-11-08
BKNG [neutral]
Booking Holdings Inc.
+7.18%
current return
Author Info
No bio for this author
Company Info
Booking Holdings Inc., together with its subsidiaries, provides online and traditional travel and restaurant reservations and related services in the United States, the Netherlands, and internationally.
Market Cap
$159.2B
Pitch Price
$4.9K
Price Target
7.2K (+36%)
Dividend
0.78%
EV/EBITDA
15.89
P/E
32.24
EV/Sales
6.14
Sector
Hotels, Restaurants and Leisure
Category
growth
Booking Holdings 3Q25 Earnings: The Market Missed the Merchant Model Inflection
BKNG (earnings): Evolving from OTA to fintech infrastructure w/ 72% merchant-of-record transactions (vs 50% 2yrs ago). Payment float/margin leverage driving 47% EBITDA margins. Connected Trip multi-vertical bookings +20% YOY, higher LTV customers. Q4 room night guide 4-6% vs 8% Q3 looks conservative amid transformation. Trading 18.5x FY26 EPS, re-rating catalyst when merchant mix hits 75%+ & AI partnerships scale.
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