Booking Holdings (BKNG) FY2019 results: revenue $15.1 billion, up 3.7% on the year
Booking Holdings Inc. (BKNG) reported revenue of $15.1 billion for fiscal 2019, the year ended 31 December 2019, up 3.7% on the year before. Net income was $4.9 billion, up 21.7%, and diluted earnings per share $4.47. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$15.1 billion
+3.7% on the year
FY2012FY2019
Operating margin
35.5%
36.8% a year earlier
FY2012FY2019
Net income
$4.9 billion
+21.7% on the year
FY2012FY2019
Diluted EPS
$4.47
+34.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
15,066
14,527
12,681
+3.7%
Cost of revenue
n/a
n/a
242
Gross profit
n/a
n/a
12,431
Gross margin
n/a
n/a
98.0%
Operating income
5,345
5,341
4,538
+0.1%
Operating margin
35.5%
36.8%
35.8%
Interest expense
266
269
254
-1.1%
Pre-tax income
5,958
4,835
4,398
+23.2%
Income tax
1,093
837
2,058
+30.6%
Effective tax rate
18.3%
17.3%
46.8%
Net income
4,865
3,998
2,341
+21.7%
Net margin
32.3%
27.5%
18.5%
Diluted EPS
$4.47
$3.33
$1.87
+34.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,865
5,338
4,662
-8.9%
Capital expenditure
368
442
288
-16.7%
Free cash flow
4,497
4,896
4,374
-8.1%
Free cash flow margin
29.8%
33.7%
34.5%
Cash from investing
7,050
2,215
-4,202
+218.3%
Cash from financing
-8,220
-7,431
-79.0
Depreciation and amortisation
469
426
363
+10.1%
Share-based compensation
308
317
261
-2.8%
Buybacks
8,187
5,971
1,828
+37.1%
Diluted shares, weighted
1,088m
1,200m
1,249m
-9.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,933
8,785
11,261
-32.5%
Debt
8,628
8,649
9,521
-0.2%
Operating lease liabilities
462
0.0
n/a
Other liabilities
6,379
5,253
4,670
+21.4%
Total liabilities and equity
21,402
22,687
25,451
-5.7%
Fixed assets
738
656
480
+12.5%
Goodwill
2,913
2,910
2,738
+0.1%
Intangible assets
1,954
2,125
2,177
-8.0%
Investments
5,475
12,068
15,281
-54.6%
Cash and equivalents
6,312
2,624
2,542
+140.5%
Receivables
1,680
1,523
1,218
+10.3%
Other assets
2,330
781
1,016
+198.3%
Total assets
21,402
22,687
25,451
-5.7%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.