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Booking HoldingsXSWX:BKNG -0.79%82 ROC (Joel Greenblatt) % is 464.12% as of Mar. 2026, which is 22% below its 10-year median of 596.71. GuruFocus rates XSWX:BKNG with a GF Score™ of 82/100 and a GF Value™ of CHF183.17 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 847 Travel & Leisure companies, Booking Holdings ranks better than 97.4% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Booking Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 464.12%.
The historical rank and industry rank for Booking Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:BKNG'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 69.84 Med: 596.71 Max: 1125.25
Current: 637.3
During the past 13 years, Booking Holdings's highest ROC (Joel Greenblatt) % was 1125.25%. The lowest was 69.84%. And the median was 596.71%.
XSWX:BKNG's ROC (Joel Greenblatt) % is ranked better than 97.4% of 847
companies
in the Travel & Leisure industry
Industry Median: 10
vs XSWX:BKNG: 637.30
Booking Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 55.50% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Booking Holdings ROC (Joel Greenblatt) % Related Terms
Booking Holdings ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Booking Holdings's ROC (Joel Greenblatt) % 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.
XSWX:BKNG vs ABNB, RCL, VIK: ROC (Joel Greenblatt) % Comparison
For the Travel Services subindustry, Booking Holdings's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Booking Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Booking Holdings's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 464.12% mean?
Booking Holdings (XSWX:BKNG) has a ROC (Joel Greenblatt) % of 464.12% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Booking Holdings and its competitors. This is 22% below median its historical median of 596.71. Over the past decade, Booking Holdings' ROC (Joel Greenblatt) % has ranged from 69.84 to 1,125.25. According to the industry distribution chart, Booking Holdings ranks #22 out of 847 companies in the Travel & Leisure industry, placing it in the top 2.6%.
Is Booking Holdings' ROC (Joel Greenblatt) % too high?
Booking Holdings' current ROC (Joel Greenblatt) % of 464.12% is 22% below median its 10-year median of 596.71. Over the past 10 years, this metric has ranged from a low of 69.84 to a high of 1,125.25. The Travel & Leisure industry median ROC (Joel Greenblatt) % is 10.00. Booking Holdings' value of 464.12% is 4541.2% above this industry median. Based on the distribution chart, Booking Holdings ranks #22 out of 847 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 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Booking Holdings' ROC (Joel Greenblatt) % compare to ABNB and RCL?
According to the Travel & Leisure industry distribution chart, Booking Holdings ranks #22 out of 847 companies for ROC (Joel Greenblatt) %. This places Booking Holdings in the top 3% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.00. Booking Holdings' value of 464.12% is 4541.2% above this benchmark. Historically, Booking Holdings' own ROC (Joel Greenblatt) % has ranged from 69.84 to 1,125.25 over the past decade. While the company's 10-year median is 596.71 vs. the industry median of 10.00, 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 ROC (Joel Greenblatt) % for a Travel & Leisure company?
The median ROC (Joel Greenblatt) % among Travel & Leisure companies is 10.00, based on 847 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Booking Holdings's current ROC (Joel Greenblatt) % of 464.12% is 4541.2% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Booking Holdings and its competitors. For the Travel & Leisure industry, the median ROC (Joel Greenblatt) % is 10.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Booking Holdings's current ROC (Joel Greenblatt) % is 464.12%, which is 22% below median its own 10-year median of 596.71. 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 (XSWX:BKNG) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF183.17, compared to a current price of CHF143.06 — trading 21.9% below its estimated fair value. The current ROC (Joel Greenblatt) % is 464.12%, which is 22% below median its 10-year median of 596.71 and 4541.2% above the Travel & Leisure industry median of 10.00. Booking Holdings' overall GF Score™ is 82/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Booking Holdings (XSWX:BKNG), the current ROC (Joel Greenblatt) % is 464.12% 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 (XSWX:BKNG) Overvalued in 2026?
Based on GuruFocus' analysis, Booking Holdings stock appears to be undervalued.
The current stock price of CHF143.06 is trading 21.9% below its estimated GF Value™ of CHF183.17.
GuruFocus considers Booking Holdings to be Modestly Undervalued.
Key valuation signals for XSWX:BKNG:
ROC (Joel Greenblatt) %: 464.12% (22% below median its 10-year median of 596.71)
GF Value™: CHF183.17 vs. price of CHF143.06 (21.9% below fair value)
Industry Position: 4541.2% above the Travel & Leisure median (#22 of 847)
No single metric tells the full story. See the XSWX:BKNG 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.
82GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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