Added to YB: 2026-05-22
Pitch date: 2026-05-20
BKNG [bullish]
Booking Holdings Inc.
+2.85%
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, the United Kingdom, and internationally.
Market Cap
$121.6B
Pitch Price
$155.25
Price Target
308.00 (+93%)
Dividend
1.07%
EV/EBITDA
11.71
P/E
20.60
EV/Sales
4.49
Sector
Hotels, Restaurants and Leisure
Category
value
Booking Holdings (BKNG): When the Hormuz Strait Hands You a 35% Drawdown in the World’s Best Travel Compounder
BKNG: Near-monopoly OTA w/ 87% gross margin, 37% EBITDA margin, 94% ROIC down 34% from ATH on Hormuz Strait closure. Q1 beat all metrics; US room nights +low teens 4 qtrs; FY26 guide cut on geopolitical overhang. Connected Trip +high teens YoY, mobile direct mix mid-60s cutting Google tax. Record $3.6B buyback at trough. Fair PE 22x on 2028E EPS $14 = $308 target vs $154 today, ~24% IRR. Risks: AI disintermediation fears, EU regulatory probes, hotel pushback on commissions, negative equity from aggressive buybacks. Catalysts: Hormuz reopening, Penny AI conversion data, Connected Trip scaling, sustained US share gains.
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