Booking (BKNG) revenue breakdown

Consumer Cyclical · Travel Services · Market cap $123.5B

By product, Merchant revenues is the largest at 66% of fiscal 2025 revenue, growing 30% a year over 8 years.

By region, Outside of the U.S. is the largest at 90% of fiscal 2025 revenue, growing 18% a year over 3 years.

Revenue by product

Fiscal years, as Booking reports them in its 10-K filings; fiscal 2025 total $26.9B.

Products201720182019202020212022202320242025Share
Merchant revenues$2.1B$3.0B$3.8B$2.1B$3.7B$7.2B$10.9B$14.1B$17.8B 66%
Agency revenues$9.7B$10.5B$10.1B$4.3B$6.7B$9.0B$9.4B$8.5B$8.0B 30%
Advertising and other revenues$834M$1.1B$1.1B$365M$599M$894M$1.0B$1.1B$1.2B 4%

Revenue by region

Fiscal years, as Booking reports them in its 10-K filings; fiscal 2025 total $26.9B.

Regions2016201720182019202020212022202320242025Share
Outside of the U.S.——————$14.9B$19.0B$21.3B$24.3B 90%
U.S.$1.7B$1.6B$1.5B$1.5B$783M$1.4B$2.2B$2.3B$2.5B$2.6B 10%
The Netherlands$7.8B$9.7B$11.3B$11.7B$5.3B$8.7B———— —
Other$1.3B$1.3B$1.6B$1.8B$749M$846M———— —
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Questions

Where does Booking make its money?

In fiscal 2025, by product: Merchant revenues $17.8B, Agency revenues $8.0B, Advertising and other revenues $1.2B.

From Booking's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.