Booking Holdings (BKNG)财务
NASDAQ · Consumer Cyclical · Travel Services · 员工25,550人 · CEO Glenn D. Fogel
- 股价
- $148.13 -1.53%
- 市值
- $1110亿
- 企业价值
- $1150亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-03 EPS预期 $4.49
营收(TTM)$282亿+12.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)34.5%+1.6 百分点 对比去年同期营业利润 $97.4亿
净利润(TTM)$72.1亿+49.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)$95.4亿+3.2% 对比去年同期资本支出 $3.2亿
稀释EPS(TTM)$9.02+56.8% 对比去年同期最近4个季度之和
净现金-$34.8亿-149.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1110亿 EV $1150亿
- 营收
- $282亿 过去12个月
- 营收增速
- +9% FY2026年一致预期
- 净利润率
- 25.5% 净利润 / 营收,TTM
- P/E
- 16.3× 预期 14.2×(FY2026)
- P/S
- 3.9× 股价 / 营收,TTM
- EV / EBITDA
- 10.6× TTM
- 自由现金流
- $95.4亿 过去12个月
- 净利润
- $72.1亿 过去12个月
- 营收预期
- $293亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $95.5亿
- 股息
- $1.64 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期2.2%,EPS 超预期4.5%营收$73.5亿,预期$71.9亿(+2.2%);EPS $2.54,预期$2.43(+4.5%)。
- 营收增长放缓:同比8.1%Q2 '26营收$73.5亿,此前四个季度的平均值为15.2%。
- 营业利润率34.5%(TTM),较去年同期+1.6 百分点营收增长12.9%,营业利润增长18.5%。
- 资本支出占营收的1.1%(去年为1.4%)最近4个季度投入$3.2亿(同比-5.3%)。自由现金流$95.4亿,相当于净利润的132.3%。
- 股东回报$118亿 = 自由现金流的123.8%回购$105亿(去年为$66.6亿),股息$12.8亿,股权激励$6.01亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少5.6%Q2 '26稀释股数7.7亿,一年前为8.15亿。
- 净债务 $34.8亿现金 + 短期投资 $172亿,含租赁债务 $207亿;一年前净债务 $13.9亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $73.5亿 | $68亿 | +8.1% |
| 毛利率 | 100.0% | 100.0% | 0.0 百分点 |
| 营业利润 | $25亿 | $22.5亿 | +11.1% |
| 营业利润率 | 34.0% | 33.1% | +0.9 百分点 |
| 净利润 | $19.5亿 | $8.95亿 | +117.9% |
| 稀释EPS | $2.53 | $1.10 | +130.6% |
| 经营现金流 | $37.2亿 | $32亿 | +16.2% |
| 资本支出 | $7600万 | $6400万 | +18.8% |
| 自由现金流 | $36.4亿 | $31.4亿 | +16.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1.4亿 | $1.54亿 | -9.1% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $73.5亿 | $71.9亿 | +2.2% |
| EPS(一致预期口径) | $2.54 | $2.43 | +4.5% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Merchant Revenue | $51.3亿 | +15.0% | 69.7% | $192亿 | +22.5% | |
| Agency Revenue | $19亿 | -6.9% | 25.9% | $77.9亿 | -5.3% | |
| Advertising and other revenues | $3.22亿 | +8.4% | 4.4% | $12.5亿 | +11.5% |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| NETHERLANDS | $50亿 | +19.5% | 88.3% | $217亿 | +16.7% | |
| Other Geographical Areas | – | – | – | – | – | |
| United States | $6.61亿 | +5.3% | 11.7% | $25.8亿 | +3.8% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $98.6亿
- 资本支出
- -$3.2亿
- 股票回购
- -$105亿
- 股息
- -$12.8亿
- 收购
- $0
- 债务净发行
- $21.8亿
- 股权激励费用
- $6.01亿
- 自由现金流
- $95.4亿
- 股东回报 / FCF
- 123.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 16.3× | 40.2× | 26.3× – 84.5× |
| EV / EBITDA | 10.6× | 22.7× | 16.5× – 41.1× |
| EV / 营收 | 4.1× | 6.7× | 4.7× – 9.0× |
| 股价 / FCF | 11.7× | 22.1× | 13.0× – 39.1× |
| 股价 / 净资产 | -10.6× | 22.4× 5年中的2年 | 15.9× – 28.9× |
| FCF收益率 | 8.6% | 5.1% | 2.6% – 7.7% |
| 投入资本回报率 | 71.2% | 32.7% | 10.2% – 50.8% |
| 净资产收益率 | -96.7% | -54.1% | -156.3% – 109.9% |
分析师
一致目标价 $230.75 (+55.8%)
区间 $188.00 – $270.00 · 评级 Buy
强烈买入1
买入45
持有25
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $293亿 | +8.7% | $10.46 | +58.1% | 14.2× | 25 |
| FY2027 | $320亿 | +9.3% | $12.35 | +18.0% | 12.0× | 25 |
| FY2028 | $346亿 | +8.2% | $14.46 | +17.1% | 10.2× | 20 |
| FY2029 | $380亿 | +9.7% | $17.30 | +19.6% | 8.6× | 9 |
| FY2030 | $406亿 | +6.9% | $20.09 | +16.1% | 7.4× | 9 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Booking Holdings Inc.在近期10-Q / 10-K文件中标记的全部219项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $0 | – | – | – | – | – | |
| Accounts and Other Receivables, Net, Current | $43.4亿 | $43.7亿 | -0.7% | $38.2亿 | $32亿 | +19.4% |
| Accounts Payable, Current | $51.5亿 | $42.8亿 | +20.2% | $50.9亿 | $38.2亿 | +33.2% |
| Accounts Receivable, Allowance for Credit Loss | $1.37亿2025-12-31 | $1.46亿 | -6.2% | $1.37亿 | $1.46亿 | -6.2% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1.41亿 | $1.45亿 | -2.8% | $1.37亿 | $1.46亿 | -6.2% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $24亿 | $24亿 | 0.0% | $21亿 | $20亿 | +5.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $4700万 | $4900万 | -4.1% | $1.95亿 | $2.22亿 | -12.2% |
| Accrued Advertising, Current | $7.53亿2025-12-31 | $5.97亿 | +26.1% | $7.53亿 | $5.97亿 | +26.1% |
| Accrued Liabilities, Current | $38.1亿 | $42.1亿 | -9.6% | $44.5亿 | $60.5亿 | -26.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $16.4亿2025-12-31 | $13.9亿 | +18.0% | $16.4亿 | $13.9亿 | +18.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3.48亿 | -$3.03亿 | -14.9% | -$2.9亿 | -$3.75亿 | +22.7% |
| Additional Paid in Capital | $86.4亿 | $80.3亿 | +7.6% | $83.6亿 | $77.1亿 | +8.4% |
| Amortization of Debt Discount (Premium) | – | – | – | $5200万2018-12-31 | $7000万 | -25.7% |
| Amortization of Intangible Assets | $3500万 | $5400万 | -35.2% | $2.04亿 | $2.21亿 | -7.7% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.44亿 | $1.6亿 | -10.0% | $6.34亿 | $6.2亿 | +2.3% |
| Assets | $297亿 | $307亿 | -3.3% | $293亿 | $277亿 | +5.6% |
| Assets, Current | $231亿 | $233亿 | -0.9% | $223亿 | $205亿 | +8.7% |
| Capital Expenditures Incurred but Not yet Paid | $300万 | $0 | – | $6000万 | $5500万 | +9.1% |
| Cash and Cash Equivalents, at Carrying Value | $172亿 | $176亿 | -2.2% | $172亿 | $162亿 | +6.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $175亿 | $176亿 | -0.7% | $173亿 | $162亿 | +6.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $13.3亿 | $20.2亿 | -34.5% | $10.8亿 | $40.6亿 | -73.5% |
| Common Stock, Dividends, Per Share, Declared | $0.00 | $0.00 | – | $9.60 | $8.75 | +9.7% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 250亿 | 10亿 | +2,400.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Shares, Issued | 16.2亿 | 6450万 | +2,408.1% | 6450万 | 6430万 | +0.4% |
| Common Stock, Value, Issued | $1300万 | $100万 | +1,200.0% | $100万 | $0 | – |
| Communications and Information Technology | $2.63亿 | $2.19亿 | +20.1% | $9.08亿 | $7.71亿 | +17.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $19.1亿 | $9.79亿 | +95.3% | $54.9亿 | $58.3亿 | -5.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4200万 | -$2.35亿 | +117.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $18.6亿 | $15.5亿 | +20.1% |
| Current Income Tax Expense (Benefit) | – | – | – | $19.4亿 | $13.1亿 | +48.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4600万 | $200万 | +2,200.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $1.63亿 | $1.4亿 | +16.4% | $1.46亿 | $6.3亿 | -76.8% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$4.13亿 | $5100万 | -909.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$4800万 | $2500万 | -292.0% |
| Deferred Income Tax Expense (Benefit) | $1800万 | -$2.58亿 | +107.0% | -$5.16亿 | $9800万 | -626.5% |
| Deferred Income Tax Liabilities, Net | $1700万2025-12-31 | $2.89亿 | -94.1% | $1700万 | $2.89亿 | -94.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$5500万 | $2200万 | -350.0% |
| Deferred Tax Assets, Gross | $11.7亿2025-12-31 | $10.1亿 | +16.7% | $11.7亿 | $10.1亿 | +16.7% |
| Deferred Tax Assets, Net | $9.23亿2025-12-31 | $3.73亿 | +147.5% | $9.23亿 | $3.73亿 | +147.5% |
| Deferred Tax Assets, Net of Valuation Allowance | $10.5亿2025-12-31 | $8.94亿 | +17.1% | $10.5亿 | $8.94亿 | +17.1% |
| Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $1.16亿2025-12-31 | $1.17亿 | -0.9% | $1.16亿 | $1.17亿 | -0.9% |
| Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $1.69亿2025-12-31 | $1.56亿 | +8.3% | $1.69亿 | $1.56亿 | +8.3% |
| Deferred Tax Assets, Property, Plant and Equipment | $2.95亿2025-12-31 | $2.34亿 | +26.1% | $2.95亿 | $2.34亿 | +26.1% |
| Deferred Tax Assets, Tax Credit Carryforwards | $5000万2025-12-31 | $4500万 | +11.1% | $5000万 | $4500万 | +11.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $6200万2025-12-31 | $5500万 | +12.7% | $6200万 | $5500万 | +12.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $9700万2025-12-31 | $8300万 | +16.9% | $9700万 | $8300万 | +16.9% |
| Deferred Tax Assets, Valuation Allowance | $1.26亿2025-12-31 | $1.11亿 | +13.5% | $1.26亿 | $1.11亿 | +13.5% |
| Deferred Tax Liabilities, Gross | $1.24亿2025-12-31 | $5.21亿 | -76.2% | $1.24亿 | $5.21亿 | -76.2% |
| Deferred Tax Liabilities, Intangible Assets | $1900万2025-12-31 | $1.1亿 | -82.7% | $1900万 | $1.1亿 | -82.7% |
| Deferred Tax Liabilities, Leasing Arrangements | $1400万2025-12-31 | $2200万 | -36.4% | $1400万 | $2200万 | -36.4% |
| Deferred Tax Liabilities, Other | $900万2025-12-31 | $400万 | +125.0% | $900万 | $400万 | +125.0% |
| Deferred Tax Liability, Intra-entity Transfer, Asset Other than Inventory | $8200万2025-12-31 | $1.18亿 | -30.5% | $8200万 | $1.18亿 | -30.5% |
| Defined Contribution Plan, Employer Discretionary Contribution Amount | – | – | – | $8000万 | $5900万 | +35.6% |
| Depreciation, Depletion and Amortization | $1.29亿 | $1.58亿 | -18.4% | $6.23亿 | $5.91亿 | +5.4% |
| Depreciation, Depletion and Amortization, Nonproduction | $1.29亿 | $1.58亿 | -18.4% | $6.23亿 | $5.91亿 | +5.4% |
| Depreciation, Nonproduction | – | – | – | $4.19亿 | $3.7亿 | +13.2% |
| Dividends | $3.24亿 | $3.15亿 | +2.9% | $12.6亿 | $11.9亿 | +6.1% |
| Earnings Per Share, Basic | $2.54 | $1.10 | +130.9% | $166.52 | $174.96 | -4.8% |
| Earnings Per Share, Diluted | $2.53 | $1.10 | +130.0% | $165.57 | $172.69 | -4.1% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01