BKNGBooking Holdings
Our mission is to make it easier for everyone to experience the world. 10-K, Item 1
- Employees
- 24,300
- Headquarters
- Norwalk, CT
- Next results
- around Feb 17, 2027
The biggest changes in the 10-K filed 2026-02-18, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Revenue
+13.4% Big change FY to 2025-12-31 vs 2024-12-31“The year-over-year increase in merchant revenues in 2025 was due primarily to growth in accommodation reservation services at Booking.com.”
Read it in the 10-K ↗
“Merchant revenues also increased year-over-year while agency revenues decreased year-over-year in 2025 due to the ongoing shift from agency to merchant revenues at Booking.com.”
Read it in the 10-K ↗
Cash from operations
+13.0% Big change FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Operating margin
31.8% → 32.8% (+1.0 pts) FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Net income
-8.1% FY to 2025-12-31 vs 2024-12-31“Our 2025 effective tax rate differs from the U.S. federal statutory tax rate of 21%, primarily due to the benefit of the Netherlands Innovation Box Tax (as defined below) and U.S. federal tax credits, partially offset by higher international tax rates, certain non-deductible expenses, and U.S. federal tax associated with our international earnings.”
Read it in the 10-K ↗
“Our effective tax rate was higher for the year ended December 31, 2025, compared to the year ended December 31, 2024, primarily due to the reduction to our 2018 federal one-time deemed repatriation liability under the Tax Act, that was recorded during 2024, resulting from the Varian Decision, and higher international tax rates, partially offset by an increase in the benefit of the Netherlands Innovation Box Tax and lower unrecognized tax benefits.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on BKNG in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/BKNG/export.csv") into a cell.