Expedia is the world's second-largest online travel agency by bookings, offering services for lodging (80% of 2025 sales), air tickets (3%), rental cars, cruises, in-destination, and other (9%), and advertising revenue (8%).
It is a $32.9B industrial company. Revenue grew 12.0% over the last year, it keeps 13¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 16.2× earnings — near the lowest of its own history.
- Website
- expediagroup.com
- Location
- Seattle, WA
- Employees
- 16 000
- Sector
- Industrials
- Founded
- 1987
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, profitability and quality; Health lags behind.
Valuation95
- P/E vs own history3th pct · 25/25
- FCF yield13.6% · 25/25
- P/S2.1x · 20/25
- EV/EBITDA9.3x · 25/25
Growth70
- Revenue CAGR14.4% · 20/25
- Net income CAGR222.2% · 25/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth34.1% · 25/25
Profitability90
- ROIC6470.0% · 25/25
- ROE184.8% · 25/25
- Net margin13.0% · 20/25
- Operating margin16.0% · 20/25
Health49
- Altman Zn/a · 0/25
- Current ratio0.80 · 6/25
- Interest coverage7.2x · 18/25
- Net cash / debtNet cash · 25/25
Quality81
- Piotroski F8/9 · 25/25
- Beneish M-2.80 · 25/25
- FCF conversion219% · 25/25
- Margin stabilityσ 20.3% · 6/25
Moat56
- ROIC >12% years5/10 yrs · 13/25
- Median gross margin82.3% · 25/25
- FCF-positive years9/10 yrs · 18/25
- Worst-year net marginworst -50.2% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBecame debt-freecash now exceeds total debt
- FY2025FinancialBest year on record$1.29B net income
- 2024ProductExpedia Group launched Travel Shops, a platform that enables influencers and content creators to earn…
- 2023ProductExpedia Group launched One Key, a unified loyalty program for Expedia, Hotels.com
- FY2021FinancialPositive free cash flow every year since5-year streak
- 2020MilestoneThe Expedia CruiseShipCenters rebranded to Expedia Cruises with the tag line Air, Land & Sea Vacations
- FY2017FinancialRevenue crossed $10B$10.1B for the year
- FY2016FinancialFirst recorded profitable year$282M net income
- FY2016FinancialRevenue already above $1B$8.77B in first reported year
- 2011MilestoneExpedia, Inc. spun off TripAdvisor
- 2007AcquisitionExpedia bought a "significant but non-controlling" interest in cruise vacation specialists…
- 2005MilestoneIAC spun off the company
- 2001AcquisitionIAC, known at the time as USA Networks Inc, acquired a controlling interest in the company in 2001 and acquired the…
- 1996MilestoneFounded as a division of Microsoft in October 1996, Expedia was spun off into a public company in 1999
- 1987FoundedCruiseShipCenters International was established as a travel agency franchise in Vancouver in 1987
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (90.4%)
- Revenue growing 12.0% year over year
- Strong cash conversion — FCF is 28.4% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 7.2× by operating earnings
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+12.0% YoY
- Profitable — makes more than it spends$2.04B TTM
- Profit growing — earnings are higher than last year+65.3% YoY
- Generates cash — cash left after running and investing$4.46B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$32.9B market cap
- Not printing shares — share count not ballooning — you keep your slice-6.7% shares over ~5y
- Proven track record — years of profitability behind it9/10 profitable years
- Financially stable — balance sheet not near distresshealth score 24/100
- Pays a dividend — returns cash to shareholdersyield 0.65%
- Valuation not extreme — price not wildly above earningsP/E 16.2
Peer comparisonExpedia Group, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| EXPE this company | $32.9B | 16.2 | +12.0% | 13.0% | Strained |
| LRCX Lam Research Corp | $399.2B | 54.9 | +26.0% | 31.3% | Strong |
| CAT Caterpillar Inc. | $368.0B | 33.9 | +18.4% | 14.5% | Solid |
| RTX RTX Corporation | $251.3B | 32.4 | +11.8% | 8.3% | Strained |
| DE Deere & Company | $167.7B | 34.4 | +8.3% | 10.2% | Solid |
| ETN Eaton Corporation, plc | $167.2B | 43.6 | +15.5% | 12.8% | Mixed |
| UNP Union Pacific Corp. | $166.8B | 22.6 | +4.2% | 28.8% | Strained |
Head-to-head: EXPE vs LRCX · EXPE vs CAT · EXPE vs RTX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/EXPE
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of EXPE on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $273.75 · market cap $32.9B.