Booking Holdings Q4 Sales Rise 16% to $6.35B; FCF Margin Jumps to 22.3%
Booking Holdings posted Q4 sales of $6.35B, up 16% year-over-year and $0.22B ahead of consensus, with adjusted EBITDA of $2.20B (34.6% margin). Free cash flow margin climbed to 22.3% from 15.2%, while room nights booked increased to 285M (+24M YoY).
1. Q4 Revenue and EPS Beat
Booking Holdings reported Q4 sales of $6.35 billion, representing 16% year-over-year growth and $0.22 billion above consensus. Adjusted EPS was $48.80 per share, effectively in line with projections.
2. Strong Profitability and Cash Generation
Adjusted EBITDA reached $2.20 billion, delivering a 34.6% margin and beating expectations by 3.9%. Free cash flow margin surged to 22.3% from 15.2% in the previous quarter, highlighting improved cash conversion.
3. Booking Metrics and Outlook
The platform recorded 285 million room nights, up 24 million year-over-year, with ARPB of $22.28 growing 6.3%. Analysts project revenue growth of 8.6% over the next 12 months, suggesting a moderation from recent trends.