Booking Holdings is undervalued according to Wolfteam Ltd.'s projections and estimates.
With 21.37 billion in revenue. growing at 25.01 %, net profit margin of 20.07 % for 2023, Booking Holding's intrinsic value is 145 billion USD, compared with Booking Holdings' current market capitalization of 125.53 billion USD.
Here is an excerpt from Booking Holdings first quarter 2024 statement:
Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share and per share data)
Three Months Ended
March 31,
2024 2023
Merchant revenues $ 2,388 $ 1,752
Agency revenues 1,763 1,782
Advertising and other revenues 264 244
Total revenues 4,415 3,778
Operating expenses:
Marketing expenses 1,610 1,517
Sales and other expenses 678 570
Personnel, including stock-based compensation of $144 and $113, respectively 826 722
General and administrative 186 262
Information technology 187 137
Depreciation and amortization 137 120
Total operating expenses 3,624 3,328
Operating income 791 450
Interest expense (219) (194)
Interest and dividend income 243 228
Other income (expense), net 122 (181)
Income before income taxes 937 303
Income tax expense 161 37
Net income $ 776 $ 266
Net income applicable to common stockholders per basic common share $ 22.69 $ 7.07
Weighted-average number of basic common shares outstanding (in 000's) 34,206 37,621
Net income applicable to common stockholders per diluted common share $ 22.37 $ 7.00
Weighted-average number of diluted common shares outstanding (in 000's) 34,706 37,983
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