Enterprise Value to EBITDA (EV/EBITDA)
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Booking Holdings Inc., EBITDA calculation
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Item | Description | The company |
|---|---|---|
| EBITDA | To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. | Booking Holdings Inc. EBITDA increased from 2022 to 2023 and from 2023 to 2024. |
Enterprise Value to EBITDA Ratio, Current
Booking Holdings Inc., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 165,141) |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | 9,178) |
| Valuation Ratio | |
| EV/EBITDA | 17.99 |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| Airbnb Inc. | 40.55 |
| Chipotle Mexican Grill Inc. | 30.05 |
| McDonald’s Corp. | 18.29 |
| Starbucks Corp. | 19.76 |
| EV/EBITDA, Sector | |
| Consumer Services | 22.31 |
| EV/EBITDA, Industry | |
| Consumer Discretionary | 23.76 |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Booking Holdings Inc., historical EV/EBITDA calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 165,141) | 134,904) | 91,495) | 100,770) | 101,041) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | 9,178) | 6,882) | 4,765) | 2,220) | 1,381) | |
| Valuation Ratio | ||||||
| EV/EBITDA3 | 17.99 | 19.60 | 19.20 | 45.39 | 73.17 | |
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| Airbnb Inc. | — | 40.65 | 36.61 | 338.63 | — | |
| Chipotle Mexican Grill Inc. | 32.63 | 36.37 | 29.62 | 40.00 | 79.87 | |
| McDonald’s Corp. | — | 18.04 | 20.87 | 17.49 | 21.03 | |
| Starbucks Corp. | 17.33 | 17.75 | 19.88 | 18.77 | 38.99 | |
| EV/EBITDA, Sector | ||||||
| Consumer Services | — | 20.97 | 22.11 | 25.46 | 59.23 | |
| EV/EBITDA, Industry | ||||||
| Consumer Discretionary | — | 18.14 | 19.78 | 21.32 | 29.33 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
3 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 165,141 ÷ 9,178 = 17.99
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/EBITDA | Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. | Booking Holdings Inc. EV/EBITDA ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |