# Booking CDR (CAD Hedged) (BKNG.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Consumer Cyclical / Hospitality & Leisure. Price C$25.80, market value C$164.8 billion.

## Valuation
- **P/E (trailing): 17.4×** (5-yr avg 45.3×, 3-yr avg 45.3×). Booking CDR (CAD Hedged) trades at 17.4× trailing earnings, well below its own five-year average of 45.3×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×.
- **Price / sales: 5.8×**. Each dollar of revenue is priced at 5.8×.
- **EV / EBITDA: 15.0×**. Enterprise value is 15.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.8%** (5-yr avg 3.7%). Free cash flow equals 5.8% of the market value, above its five-year average of 3.7%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 5.7%**. The inverse of the P/E: 5.7% of the price is earned each year.

## Profitability
- **Operating margin: 34.5%**. 34.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 20.1%**. 20.1% of each dollar of sales reaches the bottom line.
- **Return on equity: -96.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -216.7%**. Return on all capital, debt included, is -216.7%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 24.6%**. Each dollar of assets produces 24.6% of profit.

## Growth
- **Revenue growth (1 yr): 13.4%** (3-yr 16.3%/yr). Revenue grew 13.4% over the last year.
- **EPS growth (1 yr): -4.1%** (3-yr 29.4%/yr). Earnings per share fell 4.1%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 13.7%/yr**. Free cash flow has compounded at 13.7% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Net debt / EBITDA: 0.2×**. It would take 0.2 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 8.8×**. Operating profit covers interest 8.8× over, a safe margin.
- **Current ratio: 1.33** (quick 1.33). Current assets cover the next year's liabilities 1.33 times.
- **Altman Z-score: 4.56**. A Z-score of 4.56 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Booking CDR (CAD Hedged) does not currently pay a dividend, but it returned 6.4% of its market value through buybacks over the last year.

## Price and momentum
- **From 52-week high: -28.2%** (9.1% above the low). Trading 28% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 33**. An RSI of 33 is neutral.
- **Beta (1 yr): 0.52** (volatility 40%). Beta of 0.52 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BKNG.TO · Page: https://foliofundamentals.com/stocks/bkng.to

Not investment advice.