Booking Holdings
Booking Holdings returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 89.88% | — | — | — | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 96.59% | — | — | — | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 71.67% | — | — | — | — |
| FY 2025 Q3 | Sep 30, 2025 | — | 71.67% | — | — | — | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 73.45% | — | — | — | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 72.15% | — | — | — | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 65.49% | — | — | — | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 53.4% | — | — | — | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 52.1% | — | — | — | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 49.34% | — | — | — | — |
| FY 2023 Q4 | Dec 31, 2023 | 383.86% | 41.83% | — | 22,573.68% | — | 376.2 pp |
| FY 2023 Q3 | Sep 30, 2023 | 290.08% | 49.93% | — | 348.24% | — | 282.4 pp |
| FY 2023 Q2 | Jun 30, 2023 | 2,314.39% | 42.78% | — | 267.13% | — | 2,306.7 pp |
| FY 2023 Q1 | Mar 31, 2023 | 321.59% | 37.04% | — | 147.75% | — | 313.9 pp |
| FY 2022 Q4 | Dec 31, 2022 | 88.15% | 29.76% | — | 68.26% | — | 80.5 pp |
| FY 2022 Q3 | Sep 30, 2022 | 78% | 29.63% | — | 52.98% | — | 70.3 pp |
| FY 2022 Q2 | Jun 30, 2022 | 81.38% | 25.74% | — | 35.09% | — | 73.7 pp |
| FY 2022 Q1 | Mar 31, 2022 | 34.54% | 18.58% | — | 11.38% | — | 26.8 pp |
| FY 2021 Q4 | Dec 31, 2021 | 32.22% | 13.93% | — | 21.05% | — | 24.5 pp |
| FY 2021 Q3 | Sep 30, 2021 | 13.48% | 8.37% | 21.24% | 7.31% | — | 5.8 pp |
| FY 2021 Q2 | Jun 30, 2021 | -2.24% | -1.2% | -149.42% | 9.41% | — | -9.9 pp |
| FY 2021 Q1 | Mar 31, 2021 | -7.68% | -4.1% | -281.02% | 16.36% | — | -15.4 pp |
| FY 2020 Q4 | Dec 31, 2020 | -0.97% | -3.66% | — | 1.09% | — | -8.7 pp |
| FY 2020 Q3 | Sep 30, 2020 | 9.63% | 4.07% | — | 25.68% | — | 1.9 pp |
| FY 2020 Q2 | Jun 30, 2020 | 35.75% | 17.1% | — | 54.67% | — | 28 pp |
| FY 2020 Q1 | Mar 31, 2020 | 41.46% | 29.36% | — | 63.3% | — | 33.8 pp |
| FY 2019 Q4 | Dec 31, 2019 | 39.55% | 30.4% | — | 66.11% | — | 31.8 pp |
| FY 2019 Q3 | Sep 30, 2019 | 39.35% | 29.24% | — | 54.58% | — | 31.7 pp |
| FY 2019 Q2 | Jun 30, 2019 | 37.53% | 29.49% | — | 52.7% | — | 29.8 pp |
| FY 2019 Q1 | Mar 31, 2019 | 30.15% | 27.66% | — | 47.36% | — | 22.5 pp |
| FY 2018 Q4 | Dec 31, 2018 | 27.31% | 26% | — | 39.89% | — | 19.6 pp |
| FY 2018 Q3 | Sep 30, 2018 | 16.37% | 24.34% | — | 24.5% | — | 8.7 pp |
| FY 2018 Q2 | Jun 30, 2018 | 17.66% | 25.34% | — | 24.93% | — | 10 pp |
| FY 2018 Q1 | Mar 31, 2018 | 16.04% | 23.97% | 63.87% | 23.24% | — | 8.3 pp |
| FY 2017 Q4 | Dec 31, 2017 | 15.36% | 23.31% | 3.54% | 22.21% | — | 7.7 pp |
| FY 2017 Q3 | Sep 30, 2017 | 22.61% | 22.1% | 30.8% | 31.48% | — | 14.9 pp |
| FY 2017 Q2 | Jun 30, 2017 | 16.16% | 16.53% | -13.8% | 22.58% | — | 8.5 pp |
| FY 2017 Q1 | Mar 31, 2017 | 15.86% | 16.6% | -20.95% | 22.31% | — | 8.2 pp |
| FY 2016 Q4 | Dec 31, 2016 | 16.7% | 17.63% | -85.68% | 22.94% | — | 9 pp |
| FY 2016 Q3 | Sep 30, 2016 | 16.44% | 17.25% | -28.99% | 21.44% | — | 8.7 pp |
| FY 2016 Q2 | Jun 30, 2016 | 21.8% | 21.06% | 21.37% | 29.79% | — | 14.1 pp |
| FY 2016 Q1 | Mar 31, 2016 | 22.64% | 21.44% | 8.68% | 29.32% | — | 14.9 pp |
| FY 2015 Q4 | Dec 31, 2015 | 23.37% | 22.06% | 4% | 29.39% | 15.77% | 15.7 pp |
| FY 2015 Q3 | Sep 30, 2015 | 26.35% | 22.22% | — | 28.96% | 15.72% | 18.7 pp |
| FY 2015 Q2 | Jun 30, 2015 | — | 23.93% | — | 28.87% | 16.52% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 25.03% | — | 30.61% | 17.53% | — |
| FY 2014 Q4 | Dec 31, 2014 | 29.94% | 27.17% | 26.31% | 31.3% | 19.08% | 22.2 pp |
| FY 2014 Q3 | Sep 30, 2014 | — | 26.97% | — | 31.04% | 18.32% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | 29.9% | — | 30.97% | 19.74% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 34.74% | — | 35.35% | 22.41% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | 34.05% | — | 35.03% | 22.25% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | 34.21% | — | 36.16% | 21.64% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 32.81% | — | 35.67% | 20.53% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 41.94% | — | 45.02% | 24.87% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | 45.9% | — | 43.87% | 27.02% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | 47.7% | — | 45.46% | 27.11% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 51.46% | — | 50.01% | 28.06% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 51.42% | — | 52.53% | 27.87% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | 52.79% | — | 48.15% | 30.8% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | 52.69% | — | — | — | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 47.68% | — | — | 24.77% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · BKNG, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.