Booking Holdings has delivered a 14.1% annualized return over five years with a 0.58 correlation to the S&P 500, indicating a partially independent performance stream. The company reported U.S. room night growth accelerating to the low teens for the fourth consecutive quarter and completed a record $3.6 billion in share repurchases in the first quarter. Its operating margin stands at 34.3%, well above the S&P 500 median of 18.4%, while revenue grew 15.0%. However, the stock tends to amplify market downturns, absorbing 112% of the S&P 500's losses on down days while capturing only 59% of gains on up days over the past year. Management noted that the Middle East conflict reduced first-quarter room night growth by an estimated 2 percentage points and guided for second-quarter room night growth of just 2% to 4%.
Booking Holdings IncRecord $3.6B share repurchases and strong operating margin of 34.3%
Airbnb Inc
Expedia Group Inc.
TripAdvisor Inc