| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 56 | 18.1x | 17.8x | Around median | |
Growth | 75 | 12.9% | 7.1% | Top tier | |
Quality | 97 | 61.7% | 4.5% | Top tier | |
Safety | 72 | 0.4x | 2.6x | Top tier | |
Capital Return | 45 | 0.24% | 2.12% | Around median | |
Momentum | 45 | -4.4% | 2.9% | Around median | |
Sentiment | 63 | 23 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Booking Holdings operates a diversified global travel platform through the Booking.com, Agoda, and Priceline brands, connecting travelers with providers of accommodations, flights, car rentals, activities, and other travel services. Its model relies on booking these services through its platforms, while expanding Connected Trip to increase the number of customers who book more than one category for the same trip, and on the payments platform through which approximately 73% of gross bookings passed in Q2 fiscal 2026. Accommodations remain the largest source of the group’s economics, while alternative accommodations accounted for approximately 37% of room nights at Booking.com.
In Q2 fiscal 2026, revenue reached $7.4 billion and grew 8% year over year, or approximately 7% on a constant-currency basis, while gross bookings increased 9%, or approximately 8% on a constant-currency basis. Room nights grew 5%, and daily room rates increased approximately 2% on a constant-currency basis, while airline tickets increased 4% and attraction tickets grew at a double-digit rate. Room nights, gross bookings, revenue, and adjusted earnings before interest, taxes, depreciation, and amortization exceeded the high end of the company’s guidance.
Adjusted earnings before interest, taxes, depreciation, and amortization reached approximately $2.6 billion in Q2 fiscal 2026, an increase of 9%, and its margin expanded by approximately 40 basis points. Adjusted earnings per share increased 15% to $2.54, supported by a 6% decline in the average share count, while EDGAR data showed earnings per share of $2.53. The company generated $3.6 billion in free cash flow and ended the quarter with $17.7 billion in cash and investments.
The average analyst price target is $233.47, compared with a high target of $270 and a low target of $188, with an overall consensus rating of “Buy.” The average target is approximately 2.5% above the top of the 52-week range of $227.72, while the wide range of targets reflects significant differences in estimates of the impact of Connected Trip growth and savings versus slower airline ticket growth and geopolitical and legal risks. The provided data do not include a usable price-to-earnings ratio, so it is not possible to confirm whether the earnings valuation is low or high based solely on the provided context.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Booking Holdings’ revenue reached approximately $7.4 billion, up 8% year over year or 7% on a constant-currency basis. Gross bookings increased 9%, and room nights grew 5%, while adjusted earnings before interest, taxes, depreciation, and amortization reached approximately $2.6 billion and increased 9%. Adjusted earnings per share also increased 15% to $2.54, and the adjusted earnings margin expanded by approximately 40 basis points.
Connected Trip aims to combine accommodations, flights, car rentals, and activities within a single trip instead of separate transactions. Its transactions grew at a double-digit rate in Q2 fiscal 2026, at more than twice the growth rate of total Booking.com transactions, and represented a low-double-digit percentage of its transactions. The share of gross bookings processed through the payments platform also increased to 73%, providing the infrastructure that connects different travel categories and supports value and contribution margins.
During Q2 fiscal 2026, Booking.com began testing a discovery experience combining flight prices, traveler reviews, and AI-generated travel advice, while Priceline is rolling out the next generation of Penny and Agoda launched the Gallery View interface. Internally, AI tools helped reduce customer service cost per booking at a double-digit rate, and their costs came to represent a low-single-digit percentage of total technology spending. However, traffic from large language models remained well below 1% of room nights, and management has not yet provided figures on Penny’s impact on conversion or customer satisfaction.
Automated analysis for informational purposes only — not investment advice.
The company expects Q3 fiscal 2026 room night growth of 3% to 5%, and growth in gross bookings, revenue, and adjusted earnings before interest, taxes, depreciation, and amortization of 4% to 6%. For fiscal 2026, it expects high-single-digit growth in gross bookings, revenue, and adjusted earnings, and low-to-mid-double-digit growth in adjusted earnings per share. However, its gross bookings forecast was lowered from the previous estimate due to weaker airline ticket growth, with the effects of higher airfares and lower capacity assumed to continue through the end of Q3.
The Middle East conflict pressured long-haul international travel through higher airfares and lower capacity, while international room nights increased only slightly in Q2 fiscal 2026. The company also faces pressure on SEO and extremely limited referrals from large language models, alongside growth of only 4% in airline tickets and alternative accommodations. On August 3, 2026, San Francisco filed a lawsuit alleging fees up to 85% above official hotel rates, adding legal and regulatory exposure.
