Both stocks run through our valuation models. Here is how Kaleon (KLN) and Booking Holdings (BKNG) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Booking Holdings as the less overvalued of the two: Kaleon trades at €3.96 versus a fair value of €2.01 (-49%), while Booking Holdings trades at $214 versus $153 (-29%).
Kaleon
KLN.MI · EUR · Consumer Cyclical
-49%
upside to fair value
overvalued
Price€3.96
Fair Value€2.01
Quality47/100
Booking Holdings
BKNG · USD · Consumer Discretionary
-29%
upside to fair value
overvalued
Price$214
Fair Value$153
Quality88/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
KaleonBooking Holdings
Valuation
36.1×P/E (TTM)24.1×
2.73×P/S (TTM)5.12×
2.47×P/B—
10.0×EV/EBITDA13.6×
—PEG0.75×
—Dividend yield0.9%
—Dividend per share$1.58
Profitability
7%Net margin22%
6%Operating margin25%
10%Return on equity226%
5%Return on assets22%
Growth
8%Revenue growth (YoY)16%
—Avg. growth/yr (3Y)16.3%
—Avg. growth/yr (5Y)31.7%
Balance & size
0.10×Debt / equity—
$65MMarket cap$142B
expensiveGrowth qualityhealthy
Booking Holdings leads: 2 to 6 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Kaleonof which business quality 53 · market factors 49Booking Holdingsof which business quality 84 · market factors 54
ProfitabilityMargins and returns on capital today
50
87
Quality GrowthAre margins and returns improving?
31
43
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
0
92
Low VolatilityCalm price path (market factor)
82
55
MomentumPrice trend over the last 3–12 months (market factor)
42
52
52W MomentumDistance to the 52-week high (market factor)
24
56
Net IssuanceBuybacks instead of dilution
80
100
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Kaleon
Earnings-Based€1.29
Multiples€2.71
Asset-Based€1.25
Economic Profit€1.53
Growth Earnings€2.01
12 of 14 models see the stock below the current price.
Booking Holdings
DCF Models$253
Earnings-Based$132
Dividend Discount$28.34
Multiples$153
Growth DCF$231
Economic Profit$113
Growth Earnings$187
14 of 23 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Kaleon
Bear €1.61Fair Value €2.01Bull €2.61
€3.96 = current price (white tick)
Booking Holdings
Bear $114Fair Value $153Bull $192
$214 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Kaleon · Consumer Cyclical
Quality score47 · below median
Fair value upside-49% · below median
Booking Holdings · Consumer Discretionary
Quality score88 · Top 25%
Fair value upside-29% · below median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Booking Holdings as the less overvalued of the two: Kaleon trades at €3.96 versus a fair value of €2.01 (-49%), while Booking Holdings trades at $214 versus $153 (-29%).
Booking Holdings has the higher quality score (88/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
