Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Booking Holdings Inc., solvency ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Debt Ratios
Debt to equity 11.29 4.49 2.50 2.37 2.23 1.77 1.99 2.54 2.90 2.46 2.40 2.90 2.23 1.45 1.43 1.63 1.24
Debt to equity (including operating lease liability) 11.79 4.69 2.58 2.45 2.31 1.83 2.04 2.60 2.97 2.53 2.49 3.01 2.35 1.53 1.51 1.73 1.31
Debt to capital 1.29 1.34 1.32 1.24 1.05 1.05 0.92 0.82 0.71 0.70 0.69 0.64 0.67 0.72 0.74 0.71 0.71 0.74 0.69 0.59 0.59 0.62 0.55
Debt to capital (including operating lease liability) 1.28 1.33 1.30 1.23 1.05 1.05 0.92 0.82 0.72 0.71 0.70 0.65 0.67 0.72 0.75 0.72 0.71 0.75 0.70 0.61 0.60 0.63 0.57
Debt to assets 0.58 0.59 0.61 0.58 0.54 0.53 0.48 0.49 0.42 0.39 0.44 0.46 0.47 0.51 0.58 0.55 0.53 0.55 0.48 0.40 0.40 0.40 0.38
Debt to assets (including operating lease liability) 0.60 0.61 0.63 0.61 0.56 0.55 0.50 0.51 0.43 0.40 0.45 0.48 0.49 0.52 0.60 0.57 0.55 0.57 0.50 0.42 0.42 0.43 0.41
Financial leverage 23.47 9.12 6.01 6.12 5.12 3.83 4.21 4.98 4.97 4.47 4.51 5.23 4.66 3.61 3.60 4.05 3.23
Coverage Ratios
Interest coverage 7.16 7.79 7.63 7.11 8.82 9.14 10.82 11.03 11.24 7.95 3.94 5.39 3.50 3.03 3.59 2.59 6.44 12.20 17.17 23.40

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Booking Holdings Inc. debt to capital ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Booking Holdings Inc. debt to capital ratio (including operating lease liability) deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Booking Holdings Inc. debt to assets ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Booking Holdings Inc. debt to assets ratio (including operating lease liability) improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Booking Holdings Inc. interest coverage ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

Debt to Equity

Booking Holdings Inc., debt to equity calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt 2,419 3,447 3,462 1,961 1,913 855 854 500 1,234 1,283 1,333 1,989 1,158 2,180 3,905 985 979 973 995 988 982 975 968
Long-term debt 13,793 13,361 13,438 12,223 11,856 13,198 11,272 11,985 7,950 8,190 8,435 8,937 9,876 9,986 9,930 11,029 10,829 10,633 7,553 7,640 7,512 7,686 7,619
Total debt 16,212 16,808 16,900 14,184 13,769 14,053 12,126 12,485 9,184 9,473 9,768 10,926 11,034 12,166 13,835 12,014 11,808 11,606 8,548 8,628 8,494 8,661 8,587
 
Stockholders’ equity (deficit) (3,653) (4,276) (4,052) (2,744) (625) (665) 1,074 2,782 3,670 4,002 4,373 6,178 5,545 4,799 4,764 4,893 4,913 3,999 3,831 5,933 5,951 5,307 6,915
Solvency Ratio
Debt to equity1 11.29 4.49 2.50 2.37 2.23 1.77 1.99 2.54 2.90 2.46 2.40 2.90 2.23 1.45 1.43 1.63 1.24
Benchmarks
Debt to Equity, Competitors2
Airbnb Inc. 0.23 0.25 0.25 0.24 0.22 0.39 0.38 0.36 0.36 0.38 0.42 0.42 0.45 0.58 0.63
Chipotle Mexican Grill Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
McDonald’s Corp.
Starbucks Corp.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity (deficit)
= 16,212 ÷ -3,653 =

2 Click competitor name to see calculations.


Debt to Equity (including Operating Lease Liability)

Booking Holdings Inc., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt 2,419 3,447 3,462 1,961 1,913 855 854 500 1,234 1,283 1,333 1,989 1,158 2,180 3,905 985 979 973 995 988 982 975 968
Long-term debt 13,793 13,361 13,438 12,223 11,856 13,198 11,272 11,985 7,950 8,190 8,435 8,937 9,876 9,986 9,930 11,029 10,829 10,633 7,553 7,640 7,512 7,686 7,619
Total debt 16,212 16,808 16,900 14,184 13,769 14,053 12,126 12,485 9,184 9,473 9,768 10,926 11,034 12,166 13,835 12,014 11,808 11,606 8,548 8,628 8,494 8,661 8,587
Non-current operating lease liabilities 508 529 556 599 547 533 539 552 286 323 349 351 295 314 331 366 401 417 438 462 466 495 488
Total debt (including operating lease liability) 16,720 17,337 17,456 14,783 14,316 14,586 12,665 13,037 9,470 9,796 10,117 11,277 11,329 12,480 14,166 12,380 12,209 12,023 8,986 9,090 8,960 9,156 9,075
 
Stockholders’ equity (deficit) (3,653) (4,276) (4,052) (2,744) (625) (665) 1,074 2,782 3,670 4,002 4,373 6,178 5,545 4,799 4,764 4,893 4,913 3,999 3,831 5,933 5,951 5,307 6,915
Solvency Ratio
Debt to equity (including operating lease liability)1 11.79 4.69 2.58 2.45 2.31 1.83 2.04 2.60 2.97 2.53 2.49 3.01 2.35 1.53 1.51 1.73 1.31
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Chipotle Mexican Grill Inc. 1.24 1.15 1.24 1.32 1.39 1.41 1.52 1.58 1.60 1.68 1.67 1.53 1.51 1.54 1.55 1.56 1.71 1.76 1.76 1.69 1.73 1.75 1.80
Starbucks Corp.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity (deficit)
= 16,720 ÷ -3,653 =

2 Click competitor name to see calculations.


Debt to Capital

Booking Holdings Inc., debt to capital calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt 2,419 3,447 3,462 1,961 1,913 855 854 500 1,234 1,283 1,333 1,989 1,158 2,180 3,905 985 979 973 995 988 982 975 968
Long-term debt 13,793 13,361 13,438 12,223 11,856 13,198 11,272 11,985 7,950 8,190 8,435 8,937 9,876 9,986 9,930 11,029 10,829 10,633 7,553 7,640 7,512 7,686 7,619
Total debt 16,212 16,808 16,900 14,184 13,769 14,053 12,126 12,485 9,184 9,473 9,768 10,926 11,034 12,166 13,835 12,014 11,808 11,606 8,548 8,628 8,494 8,661 8,587
Stockholders’ equity (deficit) (3,653) (4,276) (4,052) (2,744) (625) (665) 1,074 2,782 3,670 4,002 4,373 6,178 5,545 4,799 4,764 4,893 4,913 3,999 3,831 5,933 5,951 5,307 6,915
Total capital 12,559 12,532 12,848 11,440 13,144 13,388 13,200 15,267 12,854 13,475 14,141 17,104 16,579 16,965 18,599 16,907 16,721 15,605 12,379 14,561 14,445 13,968 15,502
Solvency Ratio
Debt to capital1 1.29 1.34 1.32 1.24 1.05 1.05 0.92 0.82 0.71 0.70 0.69 0.64 0.67 0.72 0.74 0.71 0.71 0.74 0.69 0.59 0.59 0.62 0.55
Benchmarks
Debt to Capital, Competitors2
Airbnb Inc. 0.19 0.20 0.20 0.20 0.18 0.28 0.27 0.26 0.26 0.27 0.30 0.29 0.31 0.37 0.39
Chipotle Mexican Grill Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
McDonald’s Corp. 1.15 1.14 1.15 1.14 1.15 1.16 1.18 1.20 1.23 1.23 1.21 1.15 1.19 1.20 1.25 1.26 1.29 1.32 1.31 1.32 1.35 1.26 1.25
Starbucks Corp. 2.04 2.18 2.35 2.08 2.18 2.22 2.39 2.37 2.34 2.21 2.34 1.57 1.87 2.09 1.99 1.91 2.05 2.16 2.38 2.26 1.63 2.21 1.46

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 16,212 ÷ 12,559 = 1.29

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Booking Holdings Inc. debt to capital ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Debt to Capital (including Operating Lease Liability)

Booking Holdings Inc., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt 2,419 3,447 3,462 1,961 1,913 855 854 500 1,234 1,283 1,333 1,989 1,158 2,180 3,905 985 979 973 995 988 982 975 968
Long-term debt 13,793 13,361 13,438 12,223 11,856 13,198 11,272 11,985 7,950 8,190 8,435 8,937 9,876 9,986 9,930 11,029 10,829 10,633 7,553 7,640 7,512 7,686 7,619
Total debt 16,212 16,808 16,900 14,184 13,769 14,053 12,126 12,485 9,184 9,473 9,768 10,926 11,034 12,166 13,835 12,014 11,808 11,606 8,548 8,628 8,494 8,661 8,587
Non-current operating lease liabilities 508 529 556 599 547 533 539 552 286 323 349 351 295 314 331 366 401 417 438 462 466 495 488
Total debt (including operating lease liability) 16,720 17,337 17,456 14,783 14,316 14,586 12,665 13,037 9,470 9,796 10,117 11,277 11,329 12,480 14,166 12,380 12,209 12,023 8,986 9,090 8,960 9,156 9,075
Stockholders’ equity (deficit) (3,653) (4,276) (4,052) (2,744) (625) (665) 1,074 2,782 3,670 4,002 4,373 6,178 5,545 4,799 4,764 4,893 4,913 3,999 3,831 5,933 5,951 5,307 6,915
Total capital (including operating lease liability) 13,067 13,061 13,404 12,039 13,691 13,921 13,739 15,819 13,140 13,798 14,490 17,455 16,874 17,279 18,930 17,273 17,122 16,022 12,817 15,023 14,911 14,463 15,990
Solvency Ratio
Debt to capital (including operating lease liability)1 1.28 1.33 1.30 1.23 1.05 1.05 0.92 0.82 0.72 0.71 0.70 0.65 0.67 0.72 0.75 0.72 0.71 0.75 0.70 0.61 0.60 0.63 0.57
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Chipotle Mexican Grill Inc. 0.55 0.54 0.55 0.57 0.58 0.58 0.60 0.61 0.62 0.63 0.62 0.61 0.60 0.61 0.61 0.61 0.63 0.64 0.64 0.63 0.63 0.64 0.64
Starbucks Corp. 1.46 1.51 1.54 1.48 1.52 1.53 1.57 1.58 1.57 1.54 1.55 1.29 1.41 1.48 1.46 1.45 1.50 1.49 1.49 2.26 1.63 2.21 1.46

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 16,720 ÷ 13,067 = 1.28

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Booking Holdings Inc. debt to capital ratio (including operating lease liability) deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Debt to Assets

Booking Holdings Inc., debt to assets calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt 2,419 3,447 3,462 1,961 1,913 855 854 500 1,234 1,283 1,333 1,989 1,158 2,180 3,905 985 979 973 995 988 982 975 968
Long-term debt 13,793 13,361 13,438 12,223 11,856 13,198 11,272 11,985 7,950 8,190 8,435 8,937 9,876 9,986 9,930 11,029 10,829 10,633 7,553 7,640 7,512 7,686 7,619
Total debt 16,212 16,808 16,900 14,184 13,769 14,053 12,126 12,485 9,184 9,473 9,768 10,926 11,034 12,166 13,835 12,014 11,808 11,606 8,548 8,628 8,494 8,661 8,587
 
Total assets 27,978 28,541 27,728 24,342 25,635 26,558 25,206 25,361 22,063 24,493 22,384 23,641 23,341 23,881 23,655 21,874 22,145 20,912 17,862 21,402 21,446 21,494 22,366
Solvency Ratio
Debt to assets1 0.58 0.59 0.61 0.58 0.54 0.53 0.48 0.49 0.42 0.39 0.44 0.46 0.47 0.51 0.58 0.55 0.53 0.55 0.48 0.40 0.40 0.40 0.38
Benchmarks
Debt to Assets, Competitors2
Airbnb Inc. 0.09 0.08 0.08 0.10 0.09 0.09 0.10 0.12 0.12 0.10 0.12 0.14 0.15 0.13 0.16
Chipotle Mexican Grill Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
McDonald’s Corp. 0.70 0.72 0.70 0.70 0.72 0.71 0.71 0.71 0.72 0.70 0.67 0.66 0.67 0.68 0.70 0.71 0.75 0.78 0.77 0.72 0.72 0.71 0.71
Starbucks Corp. 0.52 0.53 0.51 0.52 0.54 0.54 0.53 0.54 0.54 0.55 0.51 0.47 0.50 0.52 0.53 0.56 0.58 0.51 0.42 0.58 0.53 0.52 0.46

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 16,212 ÷ 27,978 = 0.58

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Booking Holdings Inc. debt to assets ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Debt to Assets (including Operating Lease Liability)

Booking Holdings Inc., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt 2,419 3,447 3,462 1,961 1,913 855 854 500 1,234 1,283 1,333 1,989 1,158 2,180 3,905 985 979 973 995 988 982 975 968
Long-term debt 13,793 13,361 13,438 12,223 11,856 13,198 11,272 11,985 7,950 8,190 8,435 8,937 9,876 9,986 9,930 11,029 10,829 10,633 7,553 7,640 7,512 7,686 7,619
Total debt 16,212 16,808 16,900 14,184 13,769 14,053 12,126 12,485 9,184 9,473 9,768 10,926 11,034 12,166 13,835 12,014 11,808 11,606 8,548 8,628 8,494 8,661 8,587
Non-current operating lease liabilities 508 529 556 599 547 533 539 552 286 323 349 351 295 314 331 366 401 417 438 462 466 495 488
Total debt (including operating lease liability) 16,720 17,337 17,456 14,783 14,316 14,586 12,665 13,037 9,470 9,796 10,117 11,277 11,329 12,480 14,166 12,380 12,209 12,023 8,986 9,090 8,960 9,156 9,075
 
Total assets 27,978 28,541 27,728 24,342 25,635 26,558 25,206 25,361 22,063 24,493 22,384 23,641 23,341 23,881 23,655 21,874 22,145 20,912 17,862 21,402 21,446 21,494 22,366
Solvency Ratio
Debt to assets (including operating lease liability)1 0.60 0.61 0.63 0.61 0.56 0.55 0.50 0.51 0.43 0.40 0.45 0.48 0.49 0.52 0.60 0.57 0.55 0.57 0.50 0.42 0.42 0.43 0.41
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Chipotle Mexican Grill Inc. 0.50 0.48 0.49 0.50 0.51 0.51 0.53 0.54 0.55 0.55 0.55 0.53 0.53 0.53 0.53 0.53 0.55 0.56 0.57 0.56 0.57 0.58 0.58
Starbucks Corp. 0.84 0.86 0.84 0.84 0.85 0.86 0.84 0.85 0.85 0.86 0.82 0.75 0.80 0.83 0.83 0.86 0.88 0.83 0.74 0.58 0.53 0.52 0.46

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 16,720 ÷ 27,978 = 0.60

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Booking Holdings Inc. debt to assets ratio (including operating lease liability) improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Financial Leverage

Booking Holdings Inc., financial leverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Total assets 27,978 28,541 27,728 24,342 25,635 26,558 25,206 25,361 22,063 24,493 22,384 23,641 23,341 23,881 23,655 21,874 22,145 20,912 17,862 21,402 21,446 21,494 22,366
Stockholders’ equity (deficit) (3,653) (4,276) (4,052) (2,744) (625) (665) 1,074 2,782 3,670 4,002 4,373 6,178 5,545 4,799 4,764 4,893 4,913 3,999 3,831 5,933 5,951 5,307 6,915
Solvency Ratio
Financial leverage1 23.47 9.12 6.01 6.12 5.12 3.83 4.21 4.98 4.97 4.47 4.51 5.23 4.66 3.61 3.60 4.05 3.23
Benchmarks
Financial Leverage, Competitors2
Airbnb Inc. 2.61 3.29 3.11 2.53 2.35 4.19 3.78 2.88 2.90 3.63 3.60 2.87 3.05 4.56 3.91
Chipotle Mexican Grill Inc. 2.49 2.40 2.50 2.63 2.74 2.73 2.84 2.93 2.93 3.04 3.03 2.90 2.87 2.91 2.93 2.96 3.12 3.15 3.11 3.03 3.04 3.03 3.12
McDonald’s Corp.
Starbucks Corp.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity (deficit)
= 27,978 ÷ -3,653 =

2 Click competitor name to see calculations.


Interest Coverage

Booking Holdings Inc., interest coverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) 2,517 1,521 776 222 2,511 1,290 266 1,235 1,666 857 (700) 618 769 (167) (55) (165) 801 122 (699) 1,171 1,950 979 765
Add: Income tax expense 352 401 161 189 638 328 37 217 510 287 (149) 198 199 126 (223) 410 34 87 (23) 249 413 228 203
Add: Interest expense 305 264 219 208 254 241 194 145 102 76 68 75 80 81 98 98 98 96 64 62 70 68 66
Earnings before interest and tax (EBIT) 3,174 2,186 1,156 619 3,403 1,859 497 1,597 2,278 1,220 (781) 891 1,048 40 (180) 343 933 305 (658) 1,482 2,433 1,275 1,034
Solvency Ratio
Interest coverage1 7.16 7.79 7.63 7.11 8.82 9.14 10.82 11.03 11.24 7.95 3.94 5.39 3.50 3.03 3.59 2.59 6.44 12.20 17.17 23.40
Benchmarks
Interest Coverage, Competitors2
Airbnb Inc. 33.76 30.48 29.67 26.33 166.72 145.45 96.66 83.88 81.06 58.89 40.98 0.31
McDonald’s Corp. 7.95 8.19 8.60 8.73 8.82 8.73 7.84 7.48 7.44 7.64 8.43 8.70 8.38 7.89 6.37 6.04 6.32 6.39 7.77 8.15
Starbucks Corp. 10.50 10.61 11.07 10.82 10.22 10.01 9.66 9.76 12.25 12.95 13.08 12.40 8.49 3.76 2.78 3.66 5.23 12.29 14.35 14.49 15.69 15.50 18.04

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Interest coverage = (EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024 + EBITQ4 2023) ÷ (Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024 + Interest expenseQ4 2023)
= (3,174 + 2,186 + 1,156 + 619) ÷ (305 + 264 + 219 + 208) = 7.16

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Booking Holdings Inc. interest coverage ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.