Booking Holdings (BKNG) FY2012 results: revenue $5.3 billion, up 20.8% on the year
Booking Holdings Inc. (BKNG) reported revenue of $5.3 billion for fiscal 2012, the year ended 31 December 2012, up 20.8% on the year before. Net income was $1.4 billion, up 34.4%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$5.3 billion
+20.8% on the year
FY2008FY2012
Operating margin
34.8%
32.1% a year earlier
FY2008FY2012
Net income
$1.4 billion
+34.4% on the year
FY2008FY2012
Diluted EPS
$1.11
+34.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
5,261
4,356
3,085
+20.8%
Cost of revenue
1,177
1,276
1,176
-7.7%
Gross profit
4,084
3,080
1,909
+32.6%
Gross margin
77.6%
70.7%
61.9%
Operating income
1,830
1,399
787
+30.8%
Operating margin
34.8%
32.1%
25.5%
Interest expense
62.1
31.7
29.9
+95.7%
Pre-tax income
1,762
1,368
746
+28.8%
Income tax
338
309
218
+9.5%
Effective tax rate
19.2%
22.6%
29.2%
Net income
1,420
1,056
528
+34.4%
Net margin
27.0%
24.3%
17.1%
Diluted EPS
$1.11
$0.83
$0.41
+34.1%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,786
1,342
777
+33.1%
Capital expenditure
55.2
46.8
22.6
+17.8%
Free cash flow
1,731
1,295
755
+33.6%
Free cash flow margin
32.9%
29.7%
24.5%
Cash from investing
n/a
n/a
-841
Cash from financing
n/a
n/a
213
Depreciation and amortisation
65.1
53.8
45.8
+21.0%
Share-based compensation
71.6
65.7
68.2
+8.9%
Buybacks
257
163
129
+57.5%
Diluted shares, weighted
1,283m
1,280m
1,275m
+0.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,897
2,574
1,813
+51.4%
Debt
1,575
498
575
+216.5%
Other liabilities
1,098
899
517
+22.1%
Total liabilities and equity
6,570
3,971
2,906
+65.5%
Fixed assets
89.3
64.3
39.7
+38.8%
Goodwill
523
505
511
+3.5%
Intangible assets
208
200
232
+4.0%
Investments
3,647
2,025
1,304
+80.1%
Cash and equivalents
1,536
633
359
+142.8%
Receivables
368
264
162
+39.0%
Other assets
199
279
298
-28.8%
Total assets
6,570
3,971
2,906
+65.5%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.