BKNG · 10-Q · 2026Q3

Booking Holdings Inc.

Filed 2026-11-03 · Other · View original filing on EDGAR

Ranked Events

• Capital Return ProgramImportance 75 · Surprise 64
  Booking Holdings repurchased $9.934 billion of common stock in the nine months ended September 30, 2026, compared with $4.298 billion in the 2025 period. The company reported $12.4 billion of remaining authorization…
• FTC Matter Financial ImpactImportance 71 · Surprise 60
  In July 2026, FTC staff informed Priceline that they intended to recommend a complaint against Priceline and a business-to-business affiliate partner over disclosures, fees, customer support, and billing practices. The…
• Transformation Program SavingsImportance 68 · Surprise 58
  The Transformation Program generated approximately $250 million in savings in 2025 and enabled approximately $550 million in annual run-rate savings by year-end 2025. In the second quarter of 2026, the company raised…
• Merchant Agency Booking MixImportance 60 · Surprise 40
  Merchant bookings represented 75% of company gross bookings in the third quarter of 2026, up from 72% a year earlier, reflecting Booking.com’s continuing shift from agency to merchant transactions. Third-quarter…
• Revenue Performance and MixImportance 54 · Surprise 40
  For the three months ended September 30, 2026, total revenue was $8.893 billion, down 1.3% year over year, while nine-month revenue was $21.777 billion, up 5.9%. Third-quarter merchant revenue increased 14.1% to $6.998…
• Financing ActivitiesImportance 49 · Surprise 32
  Net cash used in financing activities was $8.746 billion in the first nine months of 2026, compared with $8.248 billion in the same period of 2025. The 2026 outflow principally reflected $9.9 billion of common-stock…
• Market Demand TrendsImportance 42 · Surprise 40
  Global room nights increased 7% year over year in the third quarter of 2026, accelerating from 5% in the second quarter and 6% in the first quarter. Room nights reserved through Booking Holdings’ services increased…
• FX / Currency ImpactImportance 42 · Surprise 14
  Booking Holdings has substantial Euro-denominated debt: $19.0 billion principal at September 30, 2026, compared with $17.4 billion at December 31, 2025. The filing reports that foreign-currency transaction results…
• Liquidity and Debt PositionImportance 42 · Surprise 14
  At September 30, 2026, the company held $15.814 billion in cash and cash equivalents, down from $17.203 billion at December 31, 2025. Outstanding senior notes had $20.2 billion aggregate principal, compared with $18.9…
• Operating Expense TrendsImportance 41 · Surprise 22
  Marketing expense rose 10.6% to $2.588 billion in the third quarter and 12.3% to $7.027 billion in the first nine months of 2026, primarily to drive additional gross bookings and revenue. Sales and other expense…
• Alternative Accommodation GrowthImportance 37 · Surprise 32
  Booking.com listed approximately 4.7 million properties at September 30, 2026, up from approximately 4.4 million a year earlier, including approximately 4.2 million alternative-accommodation properties and more than…
• U.S. Tax Law ChangesImportance 37 · Surprise 42
  The One Big Beautiful Bill Act changed certain U.S. international, foreign-tax-credit, and domestic tax provisions effective in 2025 and 2026. Provisions affecting the Company’s 2026 effective tax rate include U.S.…
• Operating Cash Flow TrendsImportance 36 · Surprise 14
  Net cash provided by operating activities was $8.071 billion for the first nine months of 2026, compared with $7.919 billion in the same period of 2025. The 2026 amount included $5.8 billion of net income, a favorable…
• Operating Income and MarginsImportance 36 · Surprise 14
  Nine-month operating income increased 5.8% to $7.189 billion in 2026 from $6.795 billion in 2025, while revenue increased 5.9% to $21.777 billion. The resulting nine-month operating margin was approximately 33.0%,…
• Digital Services Tax RegulationImportance 32 · Surprise 24
  The filing says jurisdictions, particularly in the EU, have implemented or are considering digital services taxes on revenue from digital advertisements or use of online platforms, including where a company has no…
• Distribution ChannelsImportance 32 · Surprise 24
  Direct bookings accounted for a mid-fifties percentage of total room nights in both trailing-twelve-month periods ended September 30, 2026 and 2025, despite declines in unpaid organic search traffic. Booking Holdings…
• Connected Trip StrategyImportance 31 · Surprise 42
  Booking Holdings is pursuing an AI-powered Connected Trip experience intended to personalize travel planning, booking, payment, and in-trip services, supported by a loyalty program. The company expects the strategy to…
• Income Tax Rate ChangesImportance 30 · Surprise 40
  The effective tax rate for the nine months ended September 30, 2026 was 22.1%, up from 20.0% in the comparable 2025 period, a 2.1-percentage-point increase. The company attributed the higher 2026 rate primarily to a…
• Litigation and Legal RiskImportance 29 · Surprise 24
  Competition and consumer-law disputes have led to private litigation, including ongoing parity-related claims by German hotels against Booking.com. In the Netherlands, two foundations filed claims on behalf of European…
• Competition and Consumer RegulationImportance 29 · Surprise 24
  Booking.com faces competition and consumer-protection investigations and proceedings across Europe, including a 2024 Spanish CNMC fine and restrictions that remain subject to appeal; the Spanish National Court…

Revenue by Product (in millions)