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

Booking brought in $26.9B of revenue in fiscal 2025, RXO $5.7B in fiscal 2025. Revenue changed by +13.4% at Booking and +26.2% at RXO on the year before, so RXO grew faster. Booking kept 20.1% of its revenue as net profit, RXO -1.7%. Free cash flow was $9.1B at Booking and -$8M at RXO.

Side by side, latest fiscal year

BKNGRXO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$26.9B$5.7B
Revenue growth+13.4%+26.2%
Net income$5.4B-$100M
Net margin20.1%-1.7%
Free cash flow$9.1B-$8M
Free cash flow margin33.8%-0.1%
Earnings per share (diluted)$165.57-$0.59
Cash$17.2B$17M
Debt$18.7B$404M
Price to earnings1.0n/a
Market value$123.2B$3.3B
Dividend yield5.86%n/a
Rank by revenue in sector#40 of 778 · Consumer discretionary#184 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: $26.9BRXO FY2020: $3.4BRXO FY2022: $4.7BRXO FY2022: $4.8BRXO FY2023: $3.9BRXO FY2024: $4.6BRXO FY2025: $5.7BFY18FY19FY20FY21FY22FY23FY24FY25
BKNG $26.9BRXO $5.7B
Net income
BKNG FY2018: $4BBKNG FY2019: $4.9BBKNG FY2020: $59MBKNG FY2021: $1.2BBKNG FY2022: $3.1BBKNG FY2023: $4.3BBKNG FY2024: $5.9BBKNG FY2025: $5.4BRXO FY2020: $43MRXO FY2022: $150MRXO FY2022: $92MRXO FY2023: $4MRXO FY2024: -$290MRXO FY2025: -$100MFY18FY19FY20FY21FY22FY23FY24FY25
BKNG $5.4BRXO -$100M
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%RXO FY2020: 1.3%RXO FY2022: 3.2%RXO FY2022: 1.9%RXO FY2023: 0.1%RXO FY2024: -6.4%RXO FY2025: -1.7%FY18FY19FY20FY21FY22FY23FY24FY25
BKNG 20.1%RXO -1.7%
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%RXO FY2022: +39.7%RXO FY2022: +2.3%RXO FY2023: -18.1%RXO FY2024: +15.9%RXO FY2025: +26.2%FY19FY20FY21FY22FY23FY24FY25
BKNG +13.4%RXO +26.2%
Free cash flow
BKNG FY2018: $4.9BBKNG FY2019: $4.5BBKNG FY2020: -$201MBKNG FY2021: $2.5BBKNG FY2022: $6.2BBKNG FY2023: $7BBKNG FY2024: $7.9BBKNG FY2025: $9.1BRXO FY2020: -$22MRXO FY2022: $116MRXO FY2022: $253MRXO FY2023: $25MRXO FY2024: -$57MRXO FY2025: -$8MFY18FY19FY20FY21FY22FY23FY24FY25
BKNG $9.1BRXO -$8M

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

Questions about Booking and RXO

Which is bigger by revenue, Booking or RXO?

Booking is bigger by revenue: $26.9B in fiscal 2025, against $5.7B for RXO in fiscal 2025.

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

Booking had a net margin of 20.1% in fiscal 2025; RXO had -1.7% in fiscal 2025.

Which grew revenue faster, Booking or RXO?

In their latest fiscal years revenue changed by +13.4% at Booking and +26.2% at RXO.

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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