BKNG

Booking Holdings Inc.

Consumer Cyclical · $126.4B market cap

Share price

$159.02

close of Oct 3, 2026

Fair value

$120.96

Sticker Price

Payback Price

$48.38

buy price

Overpriced

BKNG is Overpriced: at $159.02 it trades 31% above its fair value of $120.96. Its buy price (Payback Price) is $48.38, 70% below today's price. Business quality is strong: all 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

5 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth12.6% a year✓

Equity per share growth20.0% a year✓

Sales growth14.2% a year✓

Free cash flow growth13.6% a year✓

Return on invested capital43.4%✓

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Superinvestors

6 of the investors we track hold BKNG. In Q2 2026, 2 opened a position, 4 added and 3 sold out. Who we track

Dodge & Cox Funds

Dodge & Cox Funds · as of Q2 2026

$4.6B

25,536,950 shares

First Eagle Investment Management

First Eagle Investment Management · as of Q2 2026

$876.3M

4,916,494 shares

Bill Nygren

Oakmark Funds · as of Q2 2026

$277.6M

1,557,503 shares

Pat Dorsey

Dorsey Asset Management · as of Q2 2026

$132.2M

741,500 shares

Francois Rochon

Giverny Capital · as of Q2 2026

$93.2M

522,664 shares

Show all 6 holders

David Rolfe

Wedgewood Partners · as of Q2 2026

$23.8M

133,351 shares

Moves in Q2 2026

New position: Bill Nygren, First Eagle Investment Management

Added: Pat Dorsey, Francois Rochon, Dodge & Cox Funds, David Rolfe

Sold out: Stephen Mandel, Lee Ainslie, AKO Capital

Insider activity

Since Jul 28, 2026: no open-market purchases and 20 sales worth $16.9M. Why purchases matter

Sales

MYLOD ROBERT J JR

director · 2026-09-01

Sold

$200K

Pisano Paulo

CHIEF HUMAN RESOURCES OFFICER · 2026-08-31

Sold

$610K

WITTMAN VANESSA AMES

director · 2026-08-17

Sold

$79K

MILLONES PETER J