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Booking vs Hafnia: revenue, profit, margins and growth compared

Booking brought in $26.9B of revenue in fiscal 2025, Hafnia $2.9B in fiscal 2024. Revenue changed by +13.4% at Booking and +7.4% at Hafnia on the year before, so Booking grew faster. Booking kept 20.1% of its revenue as net profit, Hafnia 27.0%. Free cash flow was $9.1B at Booking and $980.8M at Hafnia.

Side by side, latest fiscal year

BKNGHAFN
Fiscal year endedFY2025 (December 31, 2025)FY2024 (December 31, 2024)
Revenue$26.9B$2.9B
Revenue growth+13.4%+7.4%
Net income$5.4B$774M
Net margin20.1%27.0%
Free cash flow$9.1B$980.8M
Free cash flow margin33.8%34.2%
Earnings per share (diluted)$165.57$1.50
Cash$17.2B$283.6M
Debt$18.7B$1.1B
Price to earnings1.0n/a
Market value$123.2B$4.5B
Dividend yield5.86%n/a
Rank by revenue in sector#40 of 778 · Consumer discretionary#297 of 778 · Consumer discretionary

Over the years

Revenue
BKNG FY2018: $14.5BBKNG FY2019: $15.1BBKNG FY2020: $6.8BBKNG FY2021: $11BBKNG FY2022: $17.1BBKNG FY2023: $21.4BBKNG FY2024: $23.7BBKNG FY2025: $26.9BHAFN FY2022: $1.9BHAFN FY2024: $2.7BHAFN FY2024: $2.9BFY18FY19FY20FY21FY22FY23FY24FY25
BKNG $26.9BHAFN $2.9B
Net income
BKNG FY2018: $4BBKNG FY2019: $4.9BBKNG FY2020: $59MBKNG FY2021: $1.2BBKNG FY2022: $3.1BBKNG FY2023: $4.3BBKNG FY2024: $5.9BBKNG FY2025: $5.4BHAFN FY2022: $751.6MHAFN FY2024: $793.3MHAFN FY2024: $774MFY18FY19FY20FY21FY22FY23FY24FY25
BKNG $5.4BHAFN $774M
Net margin
BKNG FY2018: 27.5%BKNG FY2019: 32.3%BKNG FY2020: 0.9%BKNG FY2021: 10.6%BKNG FY2022: 17.9%BKNG FY2023: 20.1%BKNG FY2024: 24.8%BKNG FY2025: 20.1%HAFN FY2022: 39.0%HAFN FY2024: 29.7%HAFN FY2024: 27.0%FY18FY19FY20FY21FY22FY23FY24FY25
BKNG 20.1%HAFN 27.0%
Revenue growth
BKNG FY2019: +3.7%BKNG FY2020: -54.9%BKNG FY2021: +61.2%BKNG FY2022: +56.0%BKNG FY2023: +25.0%BKNG FY2024: +11.1%BKNG FY2025: +13.4%HAFN FY2024: +38.7%HAFN FY2024: +7.4%FY19FY20FY21FY22FY23FY24FY25
BKNG +13.4%HAFN +7.4%
Free cash flow
BKNG FY2018: $4.9BBKNG FY2019: $4.5BBKNG FY2020: -$201MBKNG FY2021: $2.5BBKNG FY2022: $6.2BBKNG FY2023: $7BBKNG FY2024: $7.9BBKNG FY2025: $9.1BHAFN FY2022: $323.8MHAFN FY2024: $876.4MHAFN FY2024: $980.8MFY18FY19FY20FY21FY22FY23FY24FY25
BKNG $9.1BHAFN $980.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Booking and Hafnia

Which is bigger by revenue, Booking or Hafnia?

Booking is bigger by revenue: $26.9B in fiscal 2025, against $2.9B for Hafnia in fiscal 2024.

Which keeps more of its revenue as profit, Booking or Hafnia?

Booking had a net margin of 20.1% in fiscal 2025; Hafnia had 27.0% in fiscal 2024.

Which grew revenue faster, Booking or Hafnia?

In their latest fiscal years revenue changed by +13.4% at Booking and +7.4% at Hafnia.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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