Question 1

What is Booking Holdings's P/B ratio?

Accepted Answer

Booking Holdings (BKNG) P/B ratio is 102.0× as of August 2, 2023. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Booking Holdings?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Booking Holdings specifically, the relevant sector benchmark is the current sector median of 4.3×.

Question 5

Is Booking Holdings's P/B ratio high or low?

Accepted Answer

Booking Holdings's P/B ratio of 102.0× is above its own 5-year average of 28.8× and above the sector median of 4.3×. That places the current reading at the 98th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Booking Holdings's historical P/B ratio range?

Accepted Answer

In the available daily series, Booking Holdings (BKNG) P/B ratio has ranged from a low of 2.0× in 2005 to a high of 106.5× in 2023. The 5-year average is 28.8× and the 5-year median is 18.2×.

Question 7

What was Booking Holdings's P/B ratio in 2022?

Accepted Answer

Booking Holdings (BKNG) P/B ratio at the end of 2022 was 27.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Booking Holdings's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$174B	-$5.58B	—	—	Dec 31, 2025
2024	$164B	-$4.02B	—	—	Dec 31, 2024
2023	$123B	-$2.74B	—	—	Dec 31, 2023
2022	$77.6B	$2.78B	27.9×	+12.0×	Dec 31, 2022
2021	$98.5B	$6.18B	16.0×	-2.7×	Dec 31, 2021
2020	$91.2B	$4.89B	18.6×	+4.2×	Dec 31, 2020
2019	$85.7B	$5.93B	14.4×	+5.4×	Dec 31, 2019
2018	$79.5B	$8.79B	9.0×	+1.5×	Dec 31, 2018
2017	$84.6B	$11.3B	7.5×	+0.2×	Dec 31, 2017
2016	$72.3B	$9.85B	7.3×	+0.1×	Dec 31, 2016
2015	$63.4B	$8.8B	7.2×	+0.2×	Dec 31, 2015
2014	$59.6B	$8.57B	7.0×	-1.7×	Dec 31, 2014
2013	$60B	$6.92B	8.7×	+0.8×	Dec 31, 2013
2012	$30.9B	$3.95B	7.8×	-1.2×	Dec 31, 2012
2011	$23.2B	$2.57B	9.0×	-1.5×	Dec 31, 2011
2010	$19.2B	$1.81B	10.6×	+3.6×	Dec 31, 2010
2009	$9.27B	$1.32B	7.0×	+3.0×	Dec 31, 2009
2008	$2.9B	$730M	4.0×	-3.5×	Dec 31, 2008
2007	$4.32B	$579M	7.5×	+2.6×	Dec 31, 2007
2006	$1.68B	$349M	4.8×	+2.5×	Dec 31, 2006
2005	$874M	$369M	2.4×	-2.2×	Dec 31, 2005
2004	$904M	$199M	4.5×	-0.0×	Dec 31, 2004
2003	$677M	$149M	4.5×	+1.8×	Dec 31, 2003
2002	$359M	$132M	2.7×	—	Dec 31, 2002


Aureus Greenway Holdings (PUSA)	3.6×
Genuine Parts (GPC)	3.6×
Norwegian Cruise Line (NCLH)	3.5×
V.F. (VFC)	3.5×
Lululemon Athletica (LULU)	3.1×
Carnival Corporation (CCL)	2.9×
Ball (BALL)	2.8×
PDD Holdings (PDD)	2.3×
GameStop (GME)	2.0×
XPeng (XPEV)	2.0×
D.R. Horton (DHI)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
Amcor (AMCR)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Leggett & Platt (LEG)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
General Motors (GM)	1.1×
Smurfit Westrock (SW)	1.1×
Lennar (LEN)	1.0×
KB Home (KBH)	0.8×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Booking Holdings (BKNG) 2002-2026

P/B Ratio daily chart for Booking Holdings (BKNG)

Historical P/B Ratio for Booking Holdings (BKNG) from 2002 to 2025

About P/B Ratio at Booking Holdings (BKNG)

Booking Holdings P/B Ratio by Year

Booking Holdings P/B Ratio 2022: 27.9×

Booking Holdings P/B Ratio 2021: 16.0×

Booking Holdings P/B Ratio 2020: 18.6×

Booking Holdings P/B Ratio 2019: 14.4×

Booking Holdings P/B Ratio 2018: 9.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Booking Holdings (BKNG) Key Financials