NASDAQ: EXPE
Expedia Group
Consumer Discretionary · Transportation Services
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$30.7B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $17.0B |
| FY2017, ended Dec 31, 2017 | $18.2B |
| FY2018, ended Dec 31, 2018 | $16.6B |
| FY2019, ended Dec 31, 2019 | $15.1B |
| FY2020, ended Dec 31, 2020 | $19.0B |
| FY2021, ended Dec 31, 2021 | $28.1B |
| FY2022, ended Dec 31, 2022 | $13.4B |
| FY2023, ended Dec 31, 2023 | $20.7B |
| FY2024, ended Dec 31, 2024 | $24.0B |
| FY2025, ended Dec 31, 2025 | $34.7B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $30.7B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$15.7B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $8.77B |
| FY2017, ended Dec 31, 2017 | $10.1B |
| FY2018, ended Dec 31, 2018 | $11.2B |
| FY2019, ended Dec 31, 2019 | $12.1B |
| FY2020, ended Dec 31, 2020 | $5.20B |
| FY2021, ended Dec 31, 2021 | $8.60B |
| FY2022, ended Dec 31, 2022 | $11.7B |
| FY2023, ended Dec 31, 2023 | $12.8B |
| FY2024, ended Dec 31, 2024 | $13.7B |
| FY2025, ended Dec 31, 2025 | $14.7B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $15.7B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $282M | $800M |
| FY2017, ended Dec 31, 2017 | $378M | $1.14B |
| FY2018, ended Dec 31, 2018 | $406M | $1.10B |
| FY2019, ended Dec 31, 2019 | $565M | $1.61B |
| FY2020, ended Dec 31, 2020 | −$2.61B | −$4.63B |
| FY2021, ended Dec 31, 2021 | $12.0M | $3.08B |
| FY2022, ended Dec 31, 2022 | $352M | $2.78B |
| FY2023, ended Dec 31, 2023 | $797M | $1.84B |
| FY2024, ended Dec 31, 2024 | $1.23B | $2.33B |
| FY2025, ended Dec 31, 2025 | $1.29B | $3.11B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.04B | $4.46B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$6.68B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.80B |
| FY2017, ended Dec 31, 2017 | $2.85B |
| FY2018, ended Dec 31, 2018 | $2.44B |
| FY2019, ended Dec 31, 2019 | $3.31B |
| FY2020, ended Dec 31, 2020 | $3.36B |
| FY2021, ended Dec 31, 2021 | $4.11B |
| FY2022, ended Dec 31, 2022 | $4.10B |
| FY2023, ended Dec 31, 2023 | $4.22B |
| FY2024, ended Dec 31, 2024 | $4.18B |
| FY2025, ended Dec 31, 2025 | $5.41B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.68B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$5.46B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $3.16B |
| FY2017, ended Dec 31, 2017 | $4.25B |
| FY2018, ended Dec 31, 2018 | $3.72B |
| FY2019, ended Dec 31, 2019 | $4.94B |
| FY2020, ended Dec 31, 2020 | $8.22B |
| FY2021, ended Dec 31, 2021 | $8.45B |
| FY2022, ended Dec 31, 2022 | $6.24B |
| FY2023, ended Dec 31, 2023 | $6.25B |
| FY2024, ended Dec 31, 2024 | $6.27B |
| FY2025, ended Dec 31, 2025 | $6.16B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $5.46B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 19.9% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.120M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 150M |
| FY2017, ended Dec 31, 2017 | 152M |
| FY2018, ended Dec 31, 2018 | 147M |
| FY2019, ended Dec 31, 2019 | 140M |
| FY2020, ended Dec 31, 2020 | 144M |
| FY2021, ended Dec 31, 2021 | 156M |
| FY2022, ended Dec 31, 2022 | 153M |
| FY2023, ended Dec 31, 2023 | 136M |
| FY2024, ended Dec 31, 2024 | 129M |
| FY2025, ended Dec 31, 2025 | 123M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 120M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $1.50B more bought back than issued
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| Period | Bought back | Paid to employees | Used in acquisitions |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $456M | $242M | $0 |
| FY2017, ended Dec 31, 2017 | $312M | $149M | $0 |
| FY2018, ended Dec 31, 2018 | $923M | $203M | $0 |
| FY2019, ended Dec 31, 2019 | $743M | $241M | — |
| FY2020, ended Dec 31, 2020 | $425M | $205M | — |
| FY2021, ended Dec 31, 2021 | $165M | $418M | — |
| FY2022, ended Dec 31, 2022 | $607M | $374M | — |
| FY2023, ended Dec 31, 2023 | $2.14B | $413M | — |
| FY2024, ended Dec 31, 2024 | $1.84B | $458M | — |
| FY2025, ended Dec 31, 2025 | $1.93B | $398M | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.92B | $412M | — |
Revenue (TTM)
$15.7B
+12.0% YoY
Net income (TTM)
$2.04B
+82.9% YoY
Cash
$6.68B
+6.0% YoY
Total debt
$5.46B
−12.1% YoY
Valuation
At current price- Market Cap
- $34.3B
- P/E
- 16.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.2×
- Price / Book
- 28.4×
- EV / EBITDA
- 9.7×
Growth
Trailing 12 months- Revenue (TTM)
- $15.7B
- Revenue Growth YoY
- 12.0%
- Revenue CAGR 3Y
- 8.1%
- Revenue CAGR 5Y
- 23.2%
- EPS Growth YoY
- 95.8%
- Net Income Growth YoY
- 82.9%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 16.0%
- Net Margin
- 13.0%
- FCF Margin
- 28.4%
- Return on Equity
- 199%
Earnings
Trailing 12 months- Net Income
- $2.04B
- EPS (diluted)
- $15.90
- EBITDA
- $3.41B
- Operating Income
- $2.51B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $6.68B
- Total Debt
- $5.46B
- Net Cash
- $1.22B
- Total Assets
- $29.1B
- Total Liabilities
- $26.6B
- Shareholders' Equity
- $1.21B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $5.22B
- Capital Expenditure
- $757M
- Free Cash Flow
- $4.46B
Dividends and risk
Last 12 months- Dividend Yield
- 0.6%
- Dividend / Share
- $1.84
- Beta (5Y)
- 1.36
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 12.0% year over year, at $15.7B.
Strength
Operating margin widened 6.0 pts in a year, to 16.0%.
Strength
Holds more cash than debt, with $1.22B in net cash.
Strength
Turns 28.4% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 13, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K68Mildly positive
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 7, 2025 · Read the filing on EDGAR
- Revenue rose 7% to $13.7 billion and operating income jumped 28% to $1.32 billion, helped by lower impairment charges and strong B2B growth.
- Net income rose to $1.23 billion from $797 million, helped by $289 million of gains on minority investments.
- Expedia is reinstating a quarterly dividend of $0.40 per share and is redeeming about $1 billion of 2025 notes early.
- New one-off charges included $107 million for an Italian VAT settlement, $30 million for Canadian digital taxes and $80 million for restructuring.
Business momentum
Strong improvement
“In 2024, the increase in operating income was primarily due to growth in revenue in excess of operating costs and lower impairment charges in the current periods”
Outlook
Cautious
“Our future operational results may be subject to volatility, particularly in the short-term, due to the impact of the aforementioned trends.”
Financial stress
Low
“In our opinion, our liquidity position provides sufficient capital resources to meet our foreseeable cash needs.”
Tone against the previous report
More positive
Red flags
- Minor
Other
“a $107 million charge related to an Italian VAT settlement reserve”
- Minor
Large write-down
“During 2024, we recognized intangible impairment charges of $147 million related to indefinite-lived trade names within our B2C and trivago segments.”
Positives
B2B segment profit grew strongly on higher revenue
“Our B2B segment experienced an improvement in Adjusted EBITDA in 2024 compared to 2023 primarily as a result of strong revenue growth.”
Efficiency efforts lowered the cost of serving customers
“Cost of revenue decreased $130 million during 2024 compared to 2023, primarily due to lower costs from ongoing initiatives to drive transactional efficiencies.”
Quarterly dividend is being reinstated for shareholders
“On February 3, 2025, the Board of Directors approved the reinstatement of quarterly common stock dividends”
Concerns
Direct marketing costs grew faster than revenue, reaching 50% of sales
“Selling and marketing - direct increased $739 million during 2024 compared to 2023 primarily driven by an increase in B2B partner commissions to support strong growth”
The trivago business is shrinking and its profit nearly disappeared
“Our trivago segment Adjusted EBITDA decreased in 2024 compared to 2023 as a result of revenue declines resulting from headwinds in its performance marketing channels and an increase in marketing costs.”
IRS tax disputes totaling about $675 million remain unresolved
“The 2014 to 2016 adjustments would result in federal income tax of approximately $431 million, subject to interest.”
New risks since the previous report
AI assistants could become new competitors for travel bookings
“technological developments in generative artificial intelligence ("AI") tools may be increasingly used to create competing offerings such as AI powered digital assistants”
AI could make booking and supplier fraud more common
“The rapid evolution and increased adoption of AI technologies may increase the risk of fraudulent bookings and fraudulent supplier scheme risks.”
Limited fraud protections on the platform could allow more fraud
“we have not broadly adopted certain protective capabilities across our platform, such as mobile application-based multi-factor authentication or third-party identify verification”
New digital service taxes, including retroactive ones, add costs
“a $30 million charge related to digital service taxes for fiscal years 2022 and 2023 retroactively enacted by Canada in June 2024”
New price display rules could raise costs and hurt competitiveness
“laws or regulations that require us to include all fees in the prices displayed for accommodations on our websites”
Biggest risks named
- Economic slowdowns, conflicts, storms and other shocks reducing travel demand
- Intense competition from rival travel sites, suppliers, Google and AI tools
- Reliance on Google and search engines for traffic
- Tax disputes, including IRS transfer pricing and digital and transaction taxes
- Rising marketing and brand costs squeezing margins
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | −2 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | −2.4 | |
| New risks | −2 | |
| Score | 68 | |
Written by AI (Claude Opus 5.5) from the report’s text. 16 of 16 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 13, 2026 | Pro | |||
| 10-K | Feb 7, 2025 | 68 | Strong improvement | 2 minor | |
| 10-K | Feb 9, 2024 | 59 | Improving | 1 medium | |
| 10-K | Feb 10, 2023 | 67 | Strong improvement | 1 medium1 minor | |
| 10-K | Feb 11, 2022 | 71 | Strong improvement | None | |
| 10-K | Feb 12, 2021 | 26 | Sharp deterioration | 2 medium | |
| 10-K | Feb 14, 2020 | 61 | Strong improvement | 2 medium1 minor | |
| 10-K | Feb 8, 2019 | 56 | Improving | 1 medium2 minor | |
| 10-K | Feb 9, 2018 | 63 | Strong improvement | 1 medium2 minor | |
| 10-K | Feb 10, 2017 | 69 | Strong improvement | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 6, 2026. View filings on SEC EDGAR