Booking Holdings Inc. (BKNG)

Transportation Services

Latest Price

$192.90

TTM P/E

1.23

Normalized P/E

1.62

Div Yield

Book Value

28.55

P/B Ratio

6.76

Valuation metrics

Norm. op. income: $5.3B (median of 7yr)

Tax rate: 21%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$1,251.83

+549% upside

Base FCF: $7.0B (median of recent 5yr)

Growth: 14%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$7,154.31

+3609% upside

EPS: $165.57

Target P/E: 2×

Formula: EPS × P/E

P/E Fair Value

$331.14

+72% upside

3.9% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	2.65M	$11.17B	0.34%	-103.0K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	2.08M	$8.74B	0.26%	--	2026-03-31
STATE STREET CORP	1.42M	$5.98B	0.18%	-14.3K	2026-03-31
PRICE T ROWE ASSOCIATES INC /MD/	1.16M	$4.88B	0.15%	+193.6K	2026-03-31
Dodge & Cox	997.5K	$4.20B	0.13%	+265.4K	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	891.1K	$3.76B	0.11%	+33.9K	2026-03-31
BANK OF NOVA SCOTIA	870.5K	$146.0M	0.11%	+816.0K	2026-03-31
Capital World Investors	769.2K	$3.24B	0.10%	+127.4K	2026-03-31
ROYAL LONDON ASSET MANAGEMENT LTD	750.2K	$126.0M	0.09%	+708.2K	2026-03-31
CITADEL ADVISORS LLC	704.5K	$2.97B	0.09%	-23.3K	2026-03-31