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Booking HoldingsFRA:PCE +0.56%93 Return-on-Tangible-Asset is 17.49% as of Mar. 2026, which is 4% below its 10-year median of 18.29. GuruFocus rates FRA:PCE with a GF Score™ of 93/100 and a GF Value™ of €22.30 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 855 Travel & Leisure companies, Booking Holdings ranks better than 96.49% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Booking Holdings's annualizedNet Income for the quarter that ended in Mar. 2026 was €3,747 Mil. Booking Holdings's average total tangible assets for the quarter that ended in Mar. 2026 was €21,420 Mil. Therefore, Booking Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 17.49%.
The historical rank and industry rank for Booking Holdings's Return-on-Tangible-Asset or its related term are showing as below:
FRA:PCE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.34 Med: 18.29 Max: 28.46
Current: 24.7
During the past 13 years, Booking Holdings's highest Return-on-Tangible-Asset was 28.46%. The lowest was 0.34%. And the median was 18.29%.
FRA:PCE's Return-on-Tangible-Asset is ranked better than 96.49% of 855
companies
in the Travel & Leisure industry
Industry Median: 2.73
vs FRA:PCE: 24.70
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Booking Holdings Return-on-Tangible-Asset Related Terms
Booking Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Booking Holdings's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:PCE vs ABNB, RCL, VIK: Return-on-Tangible-Asset Comparison
For the Travel Services subindustry, Booking Holdings's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Booking Holdings Return-on-Tangible-Asset vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Booking Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Booking Holdings's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 17.49% mean?
Booking Holdings (FRA:PCE) has a Return-on-Tangible-Asset of 17.49% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Booking Holdings and its competitors. This is near median its historical median of 18.29. Over the past decade, Booking Holdings' Return-on-Tangible-Asset has ranged from 0.34 to 28.46. According to the industry distribution chart, Booking Holdings ranks #30 out of 855 companies in the Travel & Leisure industry, placing it in the top 3.5%.
Is Booking Holdings' Return-on-Tangible-Asset too high?
Booking Holdings' current Return-on-Tangible-Asset of 17.49% is near median its 10-year median of 18.29. Over the past 10 years, this metric has ranged from a low of 0.34 to a high of 28.46. The Travel & Leisure industry median Return-on-Tangible-Asset is 2.73. Booking Holdings' value of 17.49% is 540.7% above this industry median. Based on the distribution chart, Booking Holdings ranks #30 out of 855 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Booking Holdings has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Booking Holdings' Return-on-Tangible-Asset compare to ABNB and RCL?
According to the Travel & Leisure industry distribution chart, Booking Holdings ranks #30 out of 855 companies for Return-on-Tangible-Asset. This places Booking Holdings in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.73. Booking Holdings' value of 17.49% is 540.7% above this benchmark. Historically, Booking Holdings' own Return-on-Tangible-Asset has ranged from 0.34 to 28.46 over the past decade. While the company's 10-year median is 18.29 vs. the industry median of 2.73, Booking Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Travel & Leisure company?
The median Return-on-Tangible-Asset among Travel & Leisure companies is 2.73, based on 855 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Booking Holdings's current Return-on-Tangible-Asset of 17.49% is 540.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Booking Holdings and its competitors. For the Travel & Leisure industry, the median Return-on-Tangible-Asset is 2.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Booking Holdings's current Return-on-Tangible-Asset is 17.49%, which is near median its own 10-year median of 18.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Booking Holdings stock overvalued right now?
Based on GuruFocus' analysis, Booking Holdings (FRA:PCE) is currently considered Modestly Undervalued. The stock's GF Value™ is €22.30, compared to a current price of €18.00 — trading 19.3% below its estimated fair value. The current Return-on-Tangible-Asset is 17.49%, which is near median its 10-year median of 18.29 and 540.7% above the Travel & Leisure industry median of 2.73. Booking Holdings' overall GF Score™ is 93/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Booking Holdings (FRA:PCE), the current Return-on-Tangible-Asset is 17.49% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Booking Holdings (FRA:PCE) Overvalued in 2026?
Based on GuruFocus' analysis, Booking Holdings stock appears to be undervalued.
The current stock price of €18.00 is trading 19.3% below its estimated GF Value™ of €22.30.
GuruFocus considers Booking Holdings to be Modestly Undervalued.
Key valuation signals for FRA:PCE:
Return-on-Tangible-Asset: 17.49% (near median its 10-year median of 18.29)
GF Value™: €22.30 vs. price of €18.00 (19.3% below fair value)
Industry Position: 540.7% above the Travel & Leisure median (#30 of 855)
No single metric tells the full story. See the FRA:PCE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Booking is the world's largest online travel agency by sales, offering booking and payment services for hotel and alternative accommodation rooms, airlines, rental cars, restaurants, cruises, experiences, and other vacation packages. The company operates several branded travel booking sites, including Booking.com, Agoda, OpenTable, Rentalcars.com, and Kayak. Transaction fees for online bookings account for the bulk of revenue and profits.
93GF Score
Get the complete analysis for FRA:PCE
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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