Booking Holdings (BKNG) FY2018 results: revenue $14.5 billion, up 14.6% on the year
Booking Holdings Inc. (BKNG) reported revenue of $14.5 billion for fiscal 2018, the year ended 31 December 2018, up 14.6% on the year before. Net income was $4.0 billion, up 70.8%, and diluted earnings per share $3.33. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$14.5 billion
+14.6% on the year
FY2011FY2018
Operating margin
36.8%
35.8% a year earlier
FY2011FY2018
Net income
$4.0 billion
+70.8% on the year
FY2011FY2018
Diluted EPS
$3.33
+77.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
14,527
12,681
10,743
+14.6%
Cost of revenue
n/a
242
415
Gross profit
n/a
12,431
10,315
Gross margin
n/a
98.0%
96.0%
Operating income
5,341
4,538
2,906
+17.7%
Operating margin
36.8%
35.8%
27.1%
Interest expense
269
254
208
+5.9%
Pre-tax income
4,835
4,398
2,713
+9.9%
Income tax
837
2,058
578
-59.3%
Effective tax rate
17.3%
46.8%
21.3%
Net income
3,998
2,341
2,135
+70.8%
Net margin
27.5%
18.5%
19.9%
Diluted EPS
$3.33
$1.87
$1.71
+77.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,338
4,662
3,984
+14.5%
Capital expenditure
442
288
220
+53.6%
Free cash flow
4,896
4,374
3,764
+11.9%
Free cash flow margin
33.7%
34.5%
35.0%
Cash from investing
2,215
-4,202
-3,333
Cash from financing
-7,431
-79.0
-1.0
Depreciation and amortisation
426
363
309
+17.4%
Share-based compensation
317
261
250
+21.5%
Buybacks
5,971
1,828
1,014
+226.7%
Diluted shares, weighted
1,200m
1,249m
1,252m
-3.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
8,785
11,261
9,820
-22.0%
Debt
8,649
9,521
7,138
-9.2%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
5,253
4,670
2,881
+12.5%
Total liabilities and equity
22,687
25,451
19,839
-10.9%
Fixed assets
656
480
347
+36.6%
Goodwill
2,910
2,738
2,397
+6.3%
Intangible assets
2,125
2,177
1,994
-2.4%
Investments
12,068
15,281
11,810
-21.0%
Cash and equivalents
2,624
2,542
2,081
+3.2%
Receivables
1,523
1,218
860
+25.1%
Other assets
781
1,016
350
-23.1%
Total assets
22,687
25,451
19,839
-10.9%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.