Expedia Group, Inc.

EXPE · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001
Valuation
Market cap	$34,715	$23,915	$21,076	$13,674	$27,384	$20,062	$16,386	$17,070	$18,148	$17,165	$18,835	$11,004	$9,398	$8,245	$3,943	$3,544	$3,708	$1,179	$4,690	$3,546	$4,035	–	–	$3,944	$3,944
Enterprise value	$36,914	$27,205	$24,642	$17,527	$33,378	$26,898	$19,584	$19,863	$20,688	$20,016	$20,373	$11,102	$9,414	$7,666	$3,960	$4,136	$4,013	$2,026	$5,219	$3,255	$4,040	–	–	–	–
P/E (TTM) at period end	26.83×	19.38×	26.44×	38.85×	–	–	29.00×	42.04×	48.01×	60.87×	24.64×	27.64×	40.36×	29.43×	8.35×	8.41×	12.38×	–	15.85×	14.48×	17.64×	–	–	51.42×	443.13×
P/S (TTM) at period end	2.36×	1.75×	1.64×	1.17×	3.18×	3.86×	1.36×	1.52×	1.80×	1.96×	2.82×	1.91×	1.97×	2.05×	1.14×	1.17×	1.35×	0.40×	1.76×	1.58×	1.90×	–	–	2.63×	7.35×
P/B at period end	27.04×	15.36×	13.74×	5.99×	13.31×	13.29×	4.13×	4.16×	4.01×	4.15×	3.87×	6.17×	4.38×	3.62×	1.79×	1.33×	1.38×	0.51×	0.97×	0.60×	0.70×	–	–	6.66×	17.46×
EV / EBITDA (TTM)	13.58×	12.95×	13.84×	9.80×	37.05×	–	12.13×	14.29×	16.70×	21.32×	27.16×	14.17×	16.29×	12.86×	6.46×	6.82×	8.17×	–	7.16×	5.42×	5.96×	–	–	–	–
EV / Sales (TTM)	2.51×	1.99×	1.92×	1.50×	3.88×	5.17×	1.62×	1.77×	2.06×	2.28×	3.05×	1.93×	1.97×	1.90×	1.15×	1.36×	1.46×	0.69×	1.96×	1.45×	1.91×	–	–	–	–
Returns
Return on equity	100.8%	79.3%	52.0%	15.4%	(13.1%)	(177.9%)	14.2%	9.9%	8.4%	6.8%	15.7%	22.3%	10.9%	12.3%	21.5%	15.8%	11.2%	(108.1%)	6.1%	4.1%	4.0%	2.0%	1.5%	13.0%	3.9%
Return on invested capital	40.2%	20.3%	13.6%	11.2%	–	(28.1%)	8.7%	8.5%	7.4%	6.2%	5.0%	18.6%	10.6%	15.9%	13.6%	9.6%	8.9%	(74.3%)	5.9%	4.0%	3.8%	1.8%	2.0%	16.4%	2.9%
Dividend yield	0.6%	–	–	–	0.2%	0.2%	1.2%	1.1%	1.0%	0.9%	0.6%	0.8%	0.8%	1.6%	1.9%	2.2%	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	0.73×	0.72×	0.78×	0.82×	0.87×	1.04×	0.72×	0.64×	0.70×	0.56×	0.50×	0.70×	0.67×	0.88×	0.89×	0.90×	0.67×	0.77×	0.59×	0.84×	0.41×	2.29×	2.04×	–	–
Debt / equity	4.80×	4.02×	4.08×	2.73×	4.11×	5.44×	1.24×	0.91×	0.94×	0.76×	0.65×	0.98×	0.58×	0.55×	0.57×	0.47×	0.33×	0.66×	0.23×	0.08×	0.04×	–	–	–	–
Effective tax rate	18.2%	20.6%	32.4%	36.2%	139.5%	13.4%	26.2%	17.9%	10.8%	5.8%	21.9%	19.7%	28.0%	13.4%	18.8%	28.3%	31.7%	(0.2%)	40.9%	36.2%	44.9%	39.5%	38.0%	–	–
Share count
Diluted shares outstanding	132	138	150	162	150	141	150	153	156	155	134	133	140	140	139	144	146	286	157	176	175	170	170	170	170

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001
Revenue and gross profit
Revenue	$15,700	$14,733	$13,691	$12,839	$11,667	$8,598	$5,199	$12,067	$11,223	$10,060	$8,774	$6,672	$5,763	$4,771	$4,030	$3,449	$3,034	$2,743	$2,937	$2,665	$2,238	$2,119	$1,843	$2,340	$1,499	$536
Cost of revenue	($1,502)	($1,456)	($1,443)	($1,573)	($1,657)	($1,522)	($1,649)	($2,163)	($1,965)	($1,757)	($1,597)	($1,310)	($1,179)	($1,038)	($899)	($761)	($685)	($603)	($639)	($562)	($503)	($471)	($413)	($1,199)	–	–
Gross profit	$14,198	$13,277	$12,248	$11,266	$10,010	$7,076	$3,550	$9,904	$9,258	$8,303	$7,177	$5,363	$4,584	$3,733	$3,132	$2,688	$2,348	$2,140	$2,298	$2,103	$1,735	$1,649	$1,430	$1,140	–	–
Operating expenses
Research and development	($1,281)	($1,277)	($1,314)	($1,358)	($1,181)	($1,074)	($1,068)	($1,263)	($1,122)	($1,387)	($1,235)	($830)	($686)	($578)	($485)	($381)	($362)	($320)	($209)	($182)	($140)	($112)	–	–	–	–
Selling, general and administrative	($788)	($765)	($805)	($771)	($748)	($705)	($589)	($807)	($774)	($676)	($678)	($574)	($425)	($377)	($345)	($310)	($259)	($273)	($269)	($1,314)	($1,076)	($909)	($845)	($644)	–	–
Total operating expenses	($11,691)	($11,406)	($10,929)	($10,233)	($8,925)	($6,890)	($6,269)	($9,001)	($8,544)	($7,678)	($6,715)	($4,949)	($4,067)	($3,367)	($2,700)	($2,208)	($1,847)	($1,743)	($4,727)	($1,574)	($1,384)	($1,252)	($1,190)	($897)	–	–
Total costs and expenses	($13,193)	($12,862)	($12,372)	($11,806)	($10,582)	($8,412)	($7,918)	($11,164)	($10,509)	($9,435)	($8,312)	($6,259)	($5,246)	($4,405)	($3,599)	($2,969)	($2,533)	($2,345)	($5,366)	($2,136)	($1,886)	($1,722)	($1,603)	($2,096)	($1,305)	($521)
Operating income	$2,507	$1,871	$1,319	$1,033	$1,085	$186	($2,719)	$903	$714	$625	$462	$414	$518	$366	$432	$480	$501	$398	($2,429)	$529	$351	$397	$240	$244	$194	$16
Earnings
EBITDA	$3,372	$2,718	$2,100	$1,781	$1,789	$901	($1,980)	$1,615	$1,390	$1,239	$939	$750	$784	$578	$596	$613	$606	$491	($2,352)	$729	$601	$678	$585	$485	–	–
Interest income	$260	$255	$235	$207	$60	$9	$18	$59	$71	$34	$20	$17	$27	$25	$26	$20	$7	$6	$30	$39	–	–	–	–	–	–
Interest expense	($355)	($299)	($246)	($245)	($277)	($351)	($360)	($173)	($190)	($182)	($173)	($126)	($98)	($87)	($88)	($91)	($66)	($49)	($72)	($53)	–	–	–	–	–	–
Pre-tax income	$2,437	$1,591	$1,542	$1,018	$538	($38)	($3,151)	$775	$485	$417	$277	$926	$465	$301	$350	$402	$426	$320	($2,515)	$497	$385	$414	$270	$255	–	–
Income tax expense	($398)	($290)	($318)	($330)	($195)	$53	$423	($203)	($87)	($45)	($16)	($203)	($92)	($84)	($47)	($76)	($120)	($102)	($6)	($203)	($139)	($186)	($106)	($97)	($117)	$9
Net income	$2,036	$1,294	$1,234	$797	$352	$12	($2,612)	$565	$406	$378	$282	$764	$398	$233	$280	$472	$422	$300	($2,518)	$296	$245	$229	$163	$111	$77	$9
Per share
Diluted EPS (GAAP)	$16.04	$9.81	$8.95	$5.31	$2.17	($1.80)	($19.00)	$3.77	$2.65	$2.42	$1.82	$5.70	$2.99	$1.67	$2.00	$3.41	$2.93	$2.05	($8.80)	$1.88	$1.40	$1.30	$0.96	$0.66	$0.46	$0.06
Basic EPS (GAAP)	$16.68	$10.32	$9.39	$5.50	$2.24	($1.80)	($19.00)	$3.84	$2.71	$2.49	$1.87	$5.87	$3.09	$1.73	$2.09	$3.48	$2.98	$2.08	($8.80)	$2.00	$1.44	$1.36	$0.97	$0.66	$0.46	$0.06
Basic shares outstanding	122	125	131	145	157	150	141	147	150	152	150	130	129	135	134	136	141	144	286	148	169	168	168	168	168	168
Margins
Gross margin	90.4%	90.1%	89.5%	87.7%	85.8%	82.3%	68.3%	82.1%	82.5%	82.5%	81.8%	80.4%	79.5%	78.2%	77.7%	77.9%	77.4%	78.0%	78.3%	78.9%	77.5%	77.8%	77.6%	48.7%	–	–
Operating margin	16.0%	12.7%	9.6%	8.0%	9.3%	2.2%	(52.3%)	7.5%	6.4%	6.2%	5.3%	6.2%	9.0%	7.7%	10.7%	13.9%	16.5%	14.5%	(82.7%)	19.9%	15.7%	18.7%	13.0%	10.4%	12.9%	2.9%
Net margin	13.0%	8.8%	9.0%	6.2%	3.0%	0.1%	(50.2%)	4.7%	3.6%	3.8%	3.2%	11.5%	6.9%	4.9%	7.0%	13.7%	13.9%	10.9%	(85.7%)	11.1%	10.9%	10.8%	8.9%	4.8%	5.1%	1.7%

Analyst consensus

Hold76 analysts

Bearish · 2 · Hold · 38 · Bullish · 36

Earnings history

	EPS	Estimate
Q3 2024	$6.13	$6.07	Beat
Q4 2024	$1.84	$2.06	Miss
Q1 2025	$0.40	$0.35	Beat
Q2 2025	$4.24	$3.97	Beat
Q3 2025	$7.57	$6.97	Beat
Q4 2025	$3.78	$3.35	Beat
Q1 2026	$1.96	$1.41	Beat
Q2 2026	$5.76	$5.22	Beat

Peers

Company overview

IPO dateJul 21, 2005

CEOAriane Gorin

Employees16,000

SectorConsumer Cyclical

IndustryTravel Services

CountryUS

ExchangeNASDAQ Global Select

Websitewww.expediagroup.com

Expedia Group, Inc. operates as a leading online travel company, serving customers both within the United States and across international markets. The enterprise structures its extensive operations into three primary divisions: Retail, Business-to-Business (B2B), and Trivago. Its comprehensive brand portfolio caters to diverse travel needs. Key retail brands include Brand Expedia, a full-service online travel platform offering localized websites; Hotels.com, specializing in the marketing and distribution of lodging accommodations; and Vrbo, an online marketplace dedicated to alternative accommodation options. Other prominent travel booking websites under its umbrella are Orbitz, Travelocity, and CheapTickets. For the EMEA region, ebookers functions as an online travel agent, presenting travelers with a broad spectrum of choices, while Hotwire provides various travel booking services. Complementing these are CarRentals.com, an online car rental booking service; Classic Vacations, a specialist in luxury travel experiences; and Expedia Cruise, which guides travelers in booking cruises. In the B2B sphere, Expedia Partner Solutions offers travel and non-travel vertical services to a wide array of clients, including corporate travel management firms, airlines, travel agents, online retailers, and financial institutions. Egencia, another key brand, focuses specifically on delivering corporate travel management services. Further extending its reach, the portfolio also features Trivago, a hotel metasearch website that refers users to online travel companies and service providers, alongside Expedia Group Media Solutions. The company also provides online travel services through several regional brands like Wotif.com, lastminute.com.au, travel.com.au, Wotif.co.nz, and lastminute.co.nz. Beyond brand-specific offerings, Expedia Group, Inc. delivers loyalty programs, a wide array of hotel and alternative accommodation choices, and advertising and media services. Serving both individual leisure travelers and corporate clients, the company was initially founded as Expedia, Inc. in 1996. It subsequently rebranded to Expedia Group, Inc. in March 2018, and its headquarters are located in Seattle, Washington.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.