Booking Holdings (BKNG) FY2011 results: revenue $4.4 billion, up 41.2% on the year
Booking Holdings Inc. (BKNG) reported revenue of $4.4 billion for fiscal 2011, the year ended 31 December 2011, up 41.2% on the year before. Net income was $1.1 billion, up 100.2%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2012.
Revenue
$4.4 billion
+41.2% on the year
FY2008FY2011
Operating margin
32.1%
25.5% a year earlier
FY2008FY2011
Net income
$1.1 billion
+100.2% on the year
FY2008FY2011
Diluted EPS
$0.83
+99.3% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
4,356
3,085
2,338
+41.2%
Cost of revenue
1,276
1,176
1,077
+8.5%
Gross profit
3,080
1,909
1,261
+61.3%
Gross margin
70.7%
61.9%
53.9%
Operating income
1,399
787
471
+77.8%
Operating margin
32.1%
25.5%
20.1%
Interest expense
31.7
29.9
24.1
+5.9%
Pre-tax income
1,368
746
442
+83.3%
Income tax
309
218
-47.2
+41.5%
Effective tax rate
22.6%
29.2%
-10.7%
Net income
1,056
528
489
+100.2%
Net margin
24.3%
17.1%
20.9%
Diluted EPS
$0.83
$0.41
$0.40
+99.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,342
777
510
+72.6%
Capital expenditure
46.8
22.6
15.1
+107.3%
Free cash flow
1,295
755
495
+71.6%
Free cash flow margin
29.7%
24.5%
21.2%
Cash from investing
n/a
-841
-501
Cash from financing
n/a
213
-169
Depreciation and amortisation
53.8
45.8
39.2
+17.6%
Share-based compensation
65.7
68.2
40.7
-3.6%
Buybacks
163
129
17.4
+26.1%
Diluted shares, weighted
1,280m
1,275m
1,238m
+0.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,574
1,813
1,322
+42.0%
Debt
498
575
196
-13.5%
Other liabilities
899
517
317
+73.7%
Total liabilities and equity
3,971
2,906
1,834
+36.6%
Fixed assets
64.3
39.7
30.5
+61.9%
Goodwill
505
511
351
-1.2%
Intangible assets
200
232
172
-13.7%
Investments
2,025
1,304
598
+55.3%
Cash and equivalents
633
359
202
+76.3%
Receivables
264
162
119
+62.8%
Other assets
279
298
362
-6.4%
Total assets
3,971
2,906
1,834
+36.6%
10-K for the year ended 31 December 2011, filed 27 February 2012: the filing.