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Booking Holdings’ Fourth Quarter Results Impacted By War in Middle East But Free Cash Flow Margins Remain Robust

publication date: Feb 23, 2024
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Image: Booking Holdings continues to put up robust free cash flow margins. 

Booking Holdings is one of our favorite ideas, and we view shares as attractively valued on the basis of our point fair value estimate and quite attractive when considering the high end of our fair value estimate range. The pace of the company’s gross travel bookings and room nights booked continues to be robust, despite dislocations in its business associated with Israel, and the firm’s free cash flow generation continues to march in the right direction, with the company putting up fantastic free cash flow margins. We like Booking Holdings as an idea in the Best Ideas Newsletter portfolio, and we won’t be removing it anytime soon. Its new dividend implies a forward estimated dividend yield of ~0.96%.


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