BKNG
ACCE-researchedOverview
ACCE thesis
Booking Holdings operates the world's largest online travel platform through Booking.com, Priceline, and Kayak, processing over 900 million room nights annually across 6.8 million properties in 230 countries. The company extracts 10-25% commissions on every transaction while bearing zero inventory risk, creating a capital-light flywheel where more supply attracts more demand and vice versa. Travel recovery continues accelerating with international bookings surging 35% year-over-year, driven by pent-up demand for European leisure travel where Booking dominates with 70% market share. Revenue jumped 16.2% despite macro headwinds while the stock trades at just 12.6x forward earnings, a steep discount to the 18x average multiple over the past five years. Management expects normalized margins to exceed pre-pandemic levels as they've permanently cut $2 billion in annual costs while maintaining pricing power.
- highNegative equity / debt structureDebt/Equity of -3.36 signals negative book equity from aggressive buybacks, masking true leverage and inflating the 225.7% ROE figure.
- moderateMomentum quality score lowACCE Momentum sub-score is only 23/100, the weakest component, suggesting near-term price trend is poor despite the 90-day score recovery.
- moderateQoQ revenue decelerationSequential quarterly revenue declined -12.9%, contrasting with the strong 16.2% YoY headline and warranting watch for seasonal or demand softening.
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
Price
Valuation
INVESTORSix independent models converge on one confidence-weighted fair value, with full methodology and editable assumptions.
- +All six models: DCF, P/E and EV/EBITDA comps, Graham, dividend discount, residual income
- +Scenario bands, sensitivity tornado, and the 5-year historical valuation range
- +Editable DCF workbench with saved scenarios
Quality
INVESTORThe full quality picture: conviction breakdown, earnings quality, score history, and backtested returns.
- +Conviction score breakdown and earnings-quality grade
- +Growth / value / quality / momentum component scores
- +90-day score history and score-threshold backtests
Analysts
Wall Street consensus
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
- +Price-target low / average / high vs the current price, with implied upside
- +Forward revenue and EPS consensus by fiscal year
- +ACCE fair-value models lined up against the Street
Smart Money
PROFollow the institutions: 13F position changes, insider trades, and active 13D activist filings.
- +Quarter-over-quarter institutional position changes
- +Recent open-market insider transactions
- +Active 13D activist filings and top holders
Compare
Where it sits vs peers
Algorithmic peers (6)
| Ticker | Company | Mcap | P/E | ROE | D/E | Yield | Quality | |
|---|---|---|---|---|---|---|---|---|
| ABNB | Airbnb Inc. Class A Common Stock | $99.5B | 37.9 | 34.5% | 0.24 | 0.0% | - | Compare |
| RCL | Royal Caribbean Cruises Ltd. Common Stock | $65.7B | 15.2 | 44.7% | 2.13 | 2.0% | - | Compare |
| VIK | Viking Holdings Ltd Ordinary Shares | $37.6B | 28.0 | 139.6% | 5.03 | 0.0% | - | Compare |
| EXPE | Expedia Group Inc. Common Stock | $33.5B | 17.6 | 89.5% | 4.80 | 0.6% | - | Compare |
| CCL | Carnival Corporation Common Stock | $29.9B | 9.8 | 26.7% | 2.17 | 1.4% | - | Compare |
| TCOM | Trip.com Group Limited American Depositary Shares | $25.6B | 7.9 | 15.7% | 0.18 | 0.0% | - | Compare |
Sector report card
Where BKNG ranks against its sector peers on each metric.
News and Record
Press releases mentioning this company
- PR Newswire•Sep 17, 2026Agoda Reveals Sustained Intra-Regional Travel Interest Across Southeast Asia
- Business Wire•Sep 16, 2026TOURISE Unveils 2027 Summit Under the Theme "Alliances That Move the World"
- GlobeNewswire•Sep 16, 2026Lake District crowned Britain's most romantic getaway, KAYAK data reveals
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