Mulya.ai
Ticker
BKNG
Scenario
Key Inputs
Revenue est.?Analyst
OP margin est.?hist_ind
Reinvestment est.?avg_lt_ttm
R&D capitalizedNo
Leases factoredNo
Key Assumptions
WACC ?10.3%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?1.387
Beta (levered) ?1.539
Terminal OM% ?17.7%
Segment conc. ?66% dominant
Terminal growth ?4.1%
Bond rating ?A+ · 1.00%
ROIC option ?Opt 4 · 23.6%
Prob of failure ?0.0%
Pipeline validated · 2026-05-17

BKNG · Booking Holdings Inc.

$4194.312026-05-17
Sector: Consumer Cyclical; Industry: Travel Services; Sub-Industry: Hotels, Resorts & Cruise Lines

Intrinsic Value Range Comparison · Mulya.ai

Bull
$3425
-18.3% vs market
Base · active
$2849
-32.1% vs market
Bear
$2469
-41.1% vs market
Mulya.ai vs Analyst IV Comparison?
Bear $2469
Base $2849
Bull $3425
Market $4194
Median $5977
Market Price $4194
Mulya.ai Base $2849
Analysts Median $5977
Mulya.ai IV range ($2469 · $3425)
Analysts Range ($4495 · $7746)
Fundamentals · historical + forward · base
italics = DCF projection
PeriodRevenueRev Gr ?Ops M% ?Tax Rate ?NOPAT ?
Reinvest ?
FCFF ?WACC% ?PV FCFF ?ROIC ?Inv. Cap ?EPS ?P/E
2021.Q4$11.0B22.8%20.5%$2.0B−$621MM$1.4B8.8%33.3%$6.0B$35.69
2022.Q4$17.1B56.0%29.9%22.0%$4.0B$2.6B$6.6B9.5%90.8%$2.8B$93.69
2023.Q4$21.4B25.0%27.3%21.7%$4.6B$2.0B$6.6B9.1%596.1%−$1.3B$131.41
2024.Q4$23.7B11.1%31.8%19.3%$6.1B−$821MM$5.3B9.8%0.0%−$3.6B$180.21
2025.Q4$26.9B13.4%34.5%20.9%$7.3B$981MM$8.3B9.8%0.0%−$4.6B$165.5714.7
italics below = DCF projection · 10yr Rev CAGR: 6.5%
2026.Q4$30.0B+11.3%34.5%20.8%$8.2B−$1.2B$7.0B10.1%$6.3B0.0%−$3.4B$250.6516.7
2027.Q4$32.5B+8.5%31.1%20.7%$8.0B−$976MM$7.0B10.0%$5.8B0.0%−$2.5B$245.8217.1
2028.Q4$35.2B+8.1%27.8%20.6%$7.7B−$983MM$6.8B9.8%$5.1B0.0%−$1.5B$237.3217.7
2029.Q4$38.0B+8.1%24.4%20.5%$7.4B−$1.0B$6.3B9.7%$4.3B0.0%−$440MM$225.7918.6
2030.Q4$40.1B+5.5%17.7%20.4%$5.6B−$745MM$4.9B9.5%$3.1B0.0%$305MM$172.7824.3
Term. Yr+$52.4B4.1%17.7%20.0%$7.4B−$1.3B$6.1B8.6%$55.2B23.6%
Active scenario IV: $2849 (-32.1% vs market)