Booking Holdings Inc

BKNG: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Booking Earnings: Fundamentals Are Strong, the Market's AI Angst Is Misplaced; Shares Undervalued

Dan Wasiolek

Feb 19, 2026

Booking's fourth-quarter revenue increased 16%, above the company's 10%-12% guidance, driven by 9% room night growth, compared with the firm's 6%-8% target, and 500 basis points of currency benefit. Adjusted EBITDA rose 19% versus its 8%-14% prognosis, helped by artificial intelligence efficiencies.

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Booking Holdings Inc

Booking Earnings: Fundamentals Are Strong, the Market's AI Angst Is Misplaced; Shares Undervalued

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