Research / Stock / BKNG
B
BKNG
Booking Holdings Inc.
213.78
+0.42 +0.20%
close 2026-08-25
Assumptions
18.0%
Market-implied growth can't be solved here (base FCF is not positive).
No trailing FCF growth rate — the series crosses zero or is too short, and a CAGR through a negative is not a number worth printing.
10 yrs
3.00%
7.55%
7.5% derived for this company beta 1.08 (1254d vs the S&P 500) · cost of equity 9.6% = 4.7% risk-free + 1.08 × 4.5% premium · 74% debt at 8.6%, taxed at 21%
Fair value
$21365.00
+9893.9%
UndervaluedCurrent price $213.78Enterprise value 676.7B
Bear $14450.51 (13.0% growth)Bull $31318.66 (23.0%)
Today's market price is below even the bear case · band = your growth ±5pts, same model
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Present value of each projected year, Y1–Y10
23% the 10 forecast years77% terminal value
Over three quarters of this valuation sits beyond the forecast horizon, in a single assumption about growth forever. Lengthening the projection or lowering terminal growth moves that share.