Booking Holdings Inc (BKNG)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	12,223,000	11,856,000	13,198,000	11,272,000	11,985,000	7,950,000	8,190,000	8,435,000	8,937,000	9,876,000	9,986,000	9,930,000	11,029,000	10,829,000	10,633,000	7,553,000	7,640,000	7,512,000	7,686,000	7,619,000
Total assets	US$ in thousands	24,342,000	25,635,000	26,558,000	25,206,000	25,361,000	22,063,000	24,493,000	22,384,000	23,641,000	23,341,000	23,881,000	23,655,000	21,874,000	22,145,000	20,912,000	17,862,000	21,402,000	21,446,000	21,494,000	22,366,000
Debt-to-assets ratio		0.50	0.46	0.50	0.45	0.47	0.36	0.33	0.38	0.38	0.42	0.42	0.42	0.50	0.49	0.51	0.42	0.36	0.35	0.36	0.34

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $12,223,000K ÷ $24,342,000K
= 0.50

The debt-to-assets ratio of Booking Holdings Inc has exhibited some fluctuations over the past eight quarters. The ratio decreased from 0.58 in Q4 2023 to 0.54 in Q3 2023, indicating a reduction in the proportion of debt relative to assets. This trend continued with a further decline to 0.53 in Q2 2023.

However, in Q1 2023, there was a notable decrease to 0.48, suggesting a significant improvement in the company's debt management and a higher proportion of assets relative to debt. The ratio then increased slightly to 0.49 in Q4 2022 before showing a more substantial drop to 0.42 in Q3 2022.

The trend of decreasing debt-to-assets ratio continued into Q2 2022 with a ratio of 0.39, signaling a relatively lower level of debt compared to assets. However, there was a slight increase in Q1 2022 to 0.44, indicating a reversal in the declining trend.

Overall, the debt-to-assets ratio of Booking Holdings Inc has shown fluctuations over the past eight quarters, with periods of both increase and decrease. This suggests varying levels of leverage and financial risk within the company during this timeframe.