Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Booking Holdings Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2024-12-31), 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Booking Holdings Inc. receivables turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Booking Holdings Inc. payables turnover ratio decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Booking Holdings Inc. working capital turnover ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Booking Holdings Inc. number of days of receivables outstanding improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. |
Receivables Turnover
Booking Holdings Inc., receivables turnover calculation (quarterly data)
| Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Revenues | 5,471) | 7,994) | 5,859) | 4,415) | 4,784) | 7,341) | 5,462) | 3,778) | 4,049) | 6,052) | 4,294) | 2,695) | 2,981) | 4,676) | 2,160) | 1,141) | 1,238) | 2,640) | 630) | 2,288) | ||||||
| Accounts receivable, net of allowance for expected credit losses | 3,199) | 3,649) | 3,814) | 3,296) | 3,253) | 3,447) | 2,805) | 2,048) | 2,229) | 2,284) | 2,249) | 1,611) | 1,358) | 1,555) | 1,290) | 586) | 529) | 859) | 566) | 667) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 7.42 | 6.32 | 5.87 | 6.68 | 6.57 | 5.98 | 6.90 | 8.87 | 7.67 | 7.01 | 6.51 | 7.77 | 8.07 | 5.93 | 5.57 | 9.64 | 12.85 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Airbnb Inc. | — | 51.62 | 50.75 | 48.31 | 39.83 | 39.84 | 34.42 | 38.36 | 42.00 | 45.08 | 36.09 | 42.42 | 42.04 | — | — | — | — | — | — | — | ||||||
| Chipotle Mexican Grill Inc. | 78.59 | 117.86 | 109.32 | 113.59 | 85.44 | 134.08 | 152.24 | 136.37 | 80.79 | 118.06 | 97.41 | 87.64 | 75.77 | 94.54 | 90.40 | 92.26 | 57.27 | — | — | — | ||||||
| McDonald’s Corp. | — | 4.04 | 4.10 | 4.41 | 3.92 | 4.22 | 4.12 | 4.18 | 4.14 | 4.80 | 5.20 | 5.93 | 5.23 | 5.19 | 5.07 | 4.77 | 3.86 | 3.46 | 2.94 | 5.43 | ||||||
| Starbucks Corp. | 29.80 | 31.83 | 32.90 | 31.49 | 30.38 | 30.71 | 28.67 | 28.30 | 27.44 | 27.91 | 31.27 | 29.45 | 30.92 | 29.76 | 27.09 | 26.09 | 26.62 | 27.31 | 28.33 | 29.70 | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Q4 2024 Calculation
Receivables turnover
= (RevenuesQ4 2024
+ RevenuesQ3 2024
+ RevenuesQ2 2024
+ RevenuesQ1 2024)
÷ Accounts receivable, net of allowance for expected credit losses
= (5,471 + 7,994 + 5,859 + 4,415)
÷ 3,199 = 7.42
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Booking Holdings Inc. receivables turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Payables Turnover
Booking Holdings Inc., payables turnover calculation (quarterly data)
| Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Revenues | 5,471) | 7,994) | 5,859) | 4,415) | 4,784) | 7,341) | 5,462) | 3,778) | 4,049) | 6,052) | 4,294) | 2,695) | 2,981) | 4,676) | 2,160) | 1,141) | 1,238) | 2,640) | 630) | 2,288) | ||||||
| Accounts payable | 3,824) | 4,065) | 3,928) | 3,268) | 3,480) | 3,020) | 2,123) | 2,132) | 2,507) | 2,131) | 2,240) | 1,504) | 1,586) | 1,466) | 1,028) | 570) | 735) | 1,114) | 581) | 926) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Payables turnover1 | 6.21 | 5.67 | 5.70 | 6.73 | 6.14 | 6.83 | 9.11 | 8.52 | 6.82 | 7.52 | 6.54 | 8.32 | 6.91 | 6.29 | 6.98 | 9.91 | 9.25 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | 39.38 | 36.30 | 38.20 | 38.02 | 36.86 | 34.04 | 42.59 | 36.87 | 35.61 | 38.60 | 39.82 | 36.05 | 35.79 | 32.44 | 38.26 | 34.83 | 40.52 | — | — | — | ||||||
| McDonald’s Corp. | — | 8.93 | 8.77 | 8.91 | 7.46 | 9.30 | 9.50 | 9.05 | 7.53 | 9.57 | 10.74 | 11.40 | 7.99 | 10.16 | 10.42 | 10.52 | 9.42 | 10.18 | 13.20 | 11.35 | ||||||
| Starbucks Corp. | 16.59 | 16.66 | 17.76 | 18.13 | 16.92 | 17.11 | 17.49 | 18.12 | 16.57 | 15.70 | 17.03 | 16.81 | 17.06 | 17.36 | 17.82 | 17.44 | 18.50 | 21.71 | 19.54 | 17.80 | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Q4 2024 Calculation
Payables turnover
= (RevenuesQ4 2024
+ RevenuesQ3 2024
+ RevenuesQ2 2024
+ RevenuesQ1 2024)
÷ Accounts payable
= (5,471 + 7,994 + 5,859 + 4,415)
÷ 3,824 = 6.21
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Booking Holdings Inc. payables turnover ratio decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level. |
Working Capital Turnover
Booking Holdings Inc., working capital turnover calculation (quarterly data)
| Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 20,491) | 20,529) | 21,293) | 20,476) | 17,034) | 18,479) | 19,349) | 17,632) | 15,798) | 12,410) | 14,924) | 12,875) | 13,145) | 14,352) | 13,789) | 14,108) | 12,206) | 12,583) | 11,453) | 9,260) | ||||||
| Less: Current liabilities | 15,647) | 16,678) | 18,206) | 16,832) | 13,330) | 12,832) | 12,481) | 11,070) | 8,474) | 8,543) | 10,282) | 7,478) | 6,246) | 5,779) | 6,724) | 6,468) | 3,425) | 3,968) | 3,909) | 4,136) | ||||||
| Working capital | 4,844) | 3,851) | 3,087) | 3,644) | 3,704) | 5,647) | 6,868) | 6,562) | 7,324) | 3,867) | 4,642) | 5,397) | 6,899) | 8,573) | 7,065) | 7,640) | 8,781) | 8,615) | 7,544) | 5,124) | ||||||
| Revenues | 5,471) | 7,994) | 5,859) | 4,415) | 4,784) | 7,341) | 5,462) | 3,778) | 4,049) | 6,052) | 4,294) | 2,695) | 2,981) | 4,676) | 2,160) | 1,141) | 1,238) | 2,640) | 630) | 2,288) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | 4.90 | 5.99 | 7.26 | 6.04 | 5.77 | 3.65 | 2.82 | 2.77 | 2.33 | 4.14 | 3.16 | 2.32 | 1.59 | 1.07 | 1.02 | 0.74 | 0.77 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| Airbnb Inc. | — | 1.55 | 1.64 | 1.64 | 1.51 | 1.25 | 1.41 | 1.31 | 1.22 | 1.17 | 1.13 | 1.10 | 0.99 | — | — | — | — | — | — | — | ||||||
| Chipotle Mexican Grill Inc. | 18.49 | 17.10 | 14.35 | 15.74 | 16.73 | 16.40 | 16.17 | 24.45 | 34.00 | 32.42 | 37.95 | 29.78 | 14.86 | 10.78 | 11.18 | 10.14 | 10.01 | — | — | — | ||||||
| McDonald’s Corp. | — | — | 33.38 | — | 8.64 | 3.33 | 7.11 | 3.99 | 5.39 | 4.03 | 6.64 | 23.54 | 3.13 | 5.58 | 5.19 | 9.32 | 131.28 | 18.14 | — | 2.58 | ||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | 18.11 | 205.59 | 50.26 | 48.92 | 51.17 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Q4 2024 Calculation
Working capital turnover
= (RevenuesQ4 2024
+ RevenuesQ3 2024
+ RevenuesQ2 2024
+ RevenuesQ1 2024)
÷ Working capital
= (5,471 + 7,994 + 5,859 + 4,415)
÷ 4,844 = 4.90
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Booking Holdings Inc. working capital turnover ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Average Receivable Collection Period
Booking Holdings Inc., average receivable collection period calculation (quarterly data)
| Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Receivables turnover | 7.42 | 6.32 | 5.87 | 6.68 | 6.57 | 5.98 | 6.90 | 8.87 | 7.67 | 7.01 | 6.51 | 7.77 | 8.07 | 5.93 | 5.57 | 9.64 | 12.85 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 49 | 58 | 62 | 55 | 56 | 61 | 53 | 41 | 48 | 52 | 56 | 47 | 45 | 62 | 66 | 38 | 28 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| Airbnb Inc. | — | 7 | 7 | 8 | 9 | 9 | 11 | 10 | 9 | 8 | 10 | 9 | 9 | — | — | — | — | — | — | — | ||||||
| Chipotle Mexican Grill Inc. | 5 | 3 | 3 | 3 | 4 | 3 | 2 | 3 | 5 | 3 | 4 | 4 | 5 | 4 | 4 | 4 | 6 | — | — | — | ||||||
| McDonald’s Corp. | — | 90 | 89 | 83 | 93 | 87 | 89 | 87 | 88 | 76 | 70 | 62 | 70 | 70 | 72 | 76 | 95 | 106 | 124 | 67 | ||||||
| Starbucks Corp. | 12 | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 12 | 12 | 12 | 12 | 13 | 14 | 14 | 13 | 13 | 12 | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Q4 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.42 = 49
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Booking Holdings Inc. number of days of receivables outstanding improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Average Payables Payment Period
Booking Holdings Inc., average payables payment period calculation (quarterly data)
| Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Payables turnover | 6.21 | 5.67 | 5.70 | 6.73 | 6.14 | 6.83 | 9.11 | 8.52 | 6.82 | 7.52 | 6.54 | 8.32 | 6.91 | 6.29 | 6.98 | 9.91 | 9.25 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average payables payment period1 | 59 | 64 | 64 | 54 | 59 | 53 | 40 | 43 | 54 | 49 | 56 | 44 | 53 | 58 | 52 | 37 | 39 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | 9 | 10 | 10 | 10 | 10 | 11 | 9 | 10 | 10 | 9 | 9 | 10 | 10 | 11 | 10 | 10 | 9 | — | — | — | ||||||
| McDonald’s Corp. | — | 41 | 42 | 41 | 49 | 39 | 38 | 40 | 48 | 38 | 34 | 32 | 46 | 36 | 35 | 35 | 39 | 36 | 28 | 32 | ||||||
| Starbucks Corp. | 22 | 22 | 21 | 20 | 22 | 21 | 21 | 20 | 22 | 23 | 21 | 22 | 21 | 21 | 20 | 21 | 20 | 17 | 19 | 21 | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Q4 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.21 = 59
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. |