Booking Holdings (BKNG) FY2017 results: revenue $12.7 billion, up 18.0% on the year
Booking Holdings Inc. (BKNG) reported revenue of $12.7 billion for fiscal 2017, the year ended 31 December 2017, up 18.0% on the year before. Net income was $2.3 billion, up 9.6%, and diluted earnings per share $1.87. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$12.7 billion
+18.0% on the year
FY2010FY2017
Operating margin
35.8%
27.1% a year earlier
FY2010FY2017
Net income
$2.3 billion
+9.6% on the year
FY2010FY2017
Diluted EPS
$1.87
+9.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
12,681
10,743
9,224
+18.0%
Cost of revenue
242
415
632
-41.7%
Gross profit
12,431
10,315
8,592
+20.5%
Gross margin
98.0%
96.0%
93.1%
Operating income
4,538
2,906
3,259
+56.1%
Operating margin
35.8%
27.1%
35.3%
Interest expense
254
208
160
+22.2%
Pre-tax income
4,398
2,713
3,128
+62.1%
Income tax
2,058
578
577
+255.8%
Effective tax rate
46.8%
21.3%
18.4%
Net income
2,341
2,135
2,551
+9.6%
Net margin
18.5%
19.9%
27.7%
Diluted EPS
$1.87
$1.71
$1.98
+9.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,662
3,984
n/a
+17.0%
Capital expenditure
288
220
174
+30.9%
Free cash flow
4,374
3,764
n/a
+16.2%
Free cash flow margin
34.5%
35.0%
n/a
Cash from investing
-4,202
-3,333
n/a
Cash from financing
-79.0
-1.0
n/a
Depreciation and amortisation
363
309
272
+17.4%
Share-based compensation
261
250
247
+4.5%
Buybacks
1,828
1,014
3,089
+80.4%
Diluted shares, weighted
1,249m
1,252m
1,290m
-0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
11,261
9,820
8,795
+14.7%
Debt
9,521
7,138
6,158
+33.4%
Other liabilities
4,670
2,881
2,467
+62.1%
Total liabilities and equity
25,451
19,839
17,421
+28.3%
Fixed assets
480
347
275
+38.3%
Goodwill
2,738
2,397
3,375
+14.2%
Intangible assets
2,177
1,994
2,168
+9.2%
Investments
15,281
11,810
9,103
+29.4%
Cash and equivalents
2,542
2,081
1,477
+22.1%
Receivables
1,218
860
645
+41.6%
Other assets
1,016
350
378
+190.2%
Total assets
25,451
19,839
17,421
+28.3%
10-K for the year ended 31 December 2017, filed 27 February 2019: the filing.