← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Record room nights and a faster shift to merchant bookings lifted revenue 13.4%, while a currency loss on euro debt cut net income 8.1%.
The read at a glance✓ Audited against SEC data
- Growth — Revenue $26.92B, +13.4%; room nights +8.0%OK
- Profitability — Operating margin 32.8%, +96 bps; net income $5.40B, -8.1%OK
- Balance sheet — Long-term debt $18.74B, +12.9%; total equity negativeWatch
- Accounting quality — Low distress and manipulation riskOK
- Capital allocation — $6.44B buybacks and $1.25B dividends against $9.09B free cash flowNote
- Merchant shift — Merchant revenue +25.5%, agency revenue -6.5%OK
What it is
Booking Holdings runs Booking.com, Priceline, Agoda, KAYAK and OpenTable. It earns a cut of travel it books for hotels, airlines and car-rental partners, plus referral and advertising fees at KAYAK and reservation fees at OpenTable. In FY2025 it booked $186.1B of travel and kept 14.5% of it as revenue.
Where the revenue comes from
Fiscal 2025, as Booking Holdings Inc. reports it. History and quarterly detail are in the app.
- Merchant revenues$17.8B
- Agency revenues$8.0B
- Advertising and other revenues$1.2B
Leadership changes
From Booking Holdings Inc.'s own filings, the day they're filed.
- Caroline Sullivan · President · appointmenteff. 2026-04-29
- Ewout L. Steenbergen · President · appointmenteff. 2024-03-15
- Ewout L. Steenbergen · President · appointmenteff. 2024-03-15
Latest filings
- 10-Q · Quarterly report2026-08-04
- 8-K · Company announcement2026-08-04
- 8-K · Company announcement2026-06-02
- 8-K · Company announcement2026-05-11
- 8-K · Company announcement2026-05-07
In the full recordFree for 14 days
- The business🔒
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The story this year🔒
- The tension🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Booking Holdings Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
14-day free trial, no credit card. For research purposes only; not investment advice.