Booking Holdings (BKNG) FY2013 results: revenue $6.8 billion, up 29.1% on the year
Booking Holdings Inc. (BKNG) reported revenue of $6.8 billion for fiscal 2013, the year ended 31 December 2013, up 29.1% on the year before. Net income was $1.9 billion, up 33.3%, and diluted earnings per share $1.44. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$6.8 billion
+29.1% on the year
FY2008FY2013
Operating margin
35.5%
34.8% a year earlier
FY2008FY2013
Net income
$1.9 billion
+33.3% on the year
FY2008FY2013
Diluted EPS
$1.44
+30.5% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,793
5,261
4,356
+29.1%
Cost of revenue
1,077
1,177
1,276
-8.5%
Gross profit
5,716
4,084
3,080
+40.0%
Gross margin
84.1%
77.6%
70.7%
Operating income
2,412
1,830
1,399
+31.8%
Operating margin
35.5%
34.8%
32.1%
Interest expense
83.3
62.1
31.7
+34.2%
Pre-tax income
2,297
1,762
1,368
+30.3%
Income tax
404
338
309
+19.5%
Effective tax rate
17.6%
19.2%
22.6%
Net income
1,893
1,420
1,056
+33.3%
Net margin
27.9%
27.0%
24.3%
Diluted EPS
$1.44
$1.11
$0.83
+30.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,301
1,786
1,342
+28.9%
Capital expenditure
84.4
55.2
46.8
+53.1%
Free cash flow
2,217
1,731
1,295
+28.1%
Free cash flow margin
32.6%
32.9%
29.7%
Depreciation and amortisation
118
65.1
53.8
+81.1%
Share-based compensation
141
71.6
65.7
+96.4%
Buybacks
884
257
163
+243.8%
Diluted shares, weighted
1,310m
1,283m
1,280m
+2.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,910
3,897
2,574
+77.3%
Debt
1,894
1,575
498
+20.3%
Other liabilities
1,641
1,098
899
+49.5%
Total liabilities and equity
10,444
6,570
3,971
+59.0%
Fixed assets
135
89.3
64.3
+51.3%
Goodwill
1,768
523
505
+238.2%
Intangible assets
1,020
208
200
+390.1%
Investments
5,463
3,647
2,025
+49.8%
Cash and equivalents
1,290
1,536
633
-16.0%
Receivables
536
368
264
+45.8%
Other assets
233
199
279
+17.0%
Total assets
10,444
6,570
3,971
+59.0%
10-K for the year ended 31 December 2013, filed 20 February 2014: the filing.