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Expedia Group, Inc.

EXPE· Nasdaq· Transportation Services

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
21.1%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+23.2%
We record prices for the companies we cover; EXPE is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
131.9M
Revenue
$14.7B
Free cash flow
$3.1B
Owner earnings
$2.7B

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
12.7%
Net
8.8%
Free cash flow
21.1%
Owner earnings
18.4%
Stock pay
2.7%

Returns

ROIC, FY2025
89.4%
ROIC, 5 yr avg
–
ROE, FY2025
100.8%
ROE, 5 yr avg
49.6%

Growth (CAGR)

Revenue, 3 yr
8.1%
Revenue, 5 yr
23.2%
Revenue, 9 yr
5.9%
Diluted EPS, 3 yr
65.3%
Diluted EPS, 5 yr
–
Diluted EPS, 9 yr
20.6%
Free cash flow, 3 yr
3.8%
Free cash flow, 5 yr
–
Free cash flow, 9 yr
16.3%

Financial health · FY2025

Cash and investments
$5.7B
Total debt
$6.2B
Net debt
$428.0M
Debt/Equity
4.8x
Debt/FCF
2.0x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
15.5%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-1.4%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$14.7B

+5.9% a year over 9 years

FY2016: Revenue $8.8BFY2017: Revenue $10.1BFY2018: Revenue $11.2BFY2019: Revenue $12.1BFY2020: Revenue $5.2BFY2021: Revenue $8.6BFY2022: Revenue $11.7BFY2023: Revenue $12.8BFY2024: Revenue $13.7BFY2025: Revenue $14.7B
FY2016FY2025

Margins

Operating12.7%Net8.8%

FY2025

FY2016: Operating 5.3%, Net 3.2%FY2017: Operating 6.2%, Net 3.8%FY2018: Operating 6.4%, Net 3.6%FY2019: Operating 7.5%, Net 4.7%FY2020: Operating -52.3%, Net -50.2%FY2021: Operating 2.2%, Net 0.1%FY2022: Operating 9.3%, Net 3.0%FY2023: Operating 8.0%, Net 6.2%FY2024: Operating 9.6%, Net 9.0%FY2025: Operating 12.7%, Net 8.8%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$3.1BOwner earnings$2.7B

Free cash flow +16.3% a year

FY2016: Free cash flow $800.0M, Owner earnings $558.0MFY2017: Free cash flow $1.1B, Owner earnings $986.0MFY2018: Free cash flow $1.1B, Owner earnings $894.0MFY2019: Free cash flow $1.6B, Owner earnings $1.4BFY2020: Free cash flow -$4.6B, Owner earnings -$4.8BFY2021: Free cash flow $3.1B, Owner earnings $2.7BFY2022: Free cash flow $2.8B, Owner earnings $2.4BFY2023: Free cash flow $1.8B, Owner earnings $1.4BFY2024: Free cash flow $2.3B, Owner earnings $1.9BFY2025: Free cash flow $3.1B, Owner earnings $2.7B
FY2016FY2025

Diluted shares

131.9M

-14.6% over 9 years, net buybacks

FY2016: Diluted shares 154.5MFY2017: Diluted shares 156.4MFY2018: Diluted shares 152.9MFY2019: Diluted shares 149.9MFY2020: Diluted shares 141.4MFY2021: Diluted shares 149.7MFY2022: Diluted shares 161.8MFY2023: Diluted shares 150.2MFY2024: Diluted shares 137.9MFY2025: Diluted shares 131.9M
FY2016FY2025

Return on invested capital

89.4%

FY2025

FY2016: ROIC 8.0%FY2017: ROIC 10.2%FY2018: ROIC 11.0%FY2019: ROIC 13.2%FY2020: ROIC –FY2021: ROIC –FY2022: ROIC 15.8%FY2023: ROIC 19.8%FY2024: ROIC 31.3%FY2025: ROIC 89.4%
FY2016FY2025

Net debt (below zero)

-$428.0M

$428.0M more debt than cash

FY2016: Net cash -$1.3BFY2017: Net cash -$934.0MFY2018: Net cash -$1.2BFY2019: Net cash -$1.1BFY2020: Net cash -$4.8BFY2021: Net cash -$4.1BFY2022: Net cash -$2.1BFY2023: Net cash -$2.0BFY2024: Net cash -$1.8BFY2025: Net cash -$428.0M
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$8.8B$10.1B$11.2B$12.1B$5.2B$8.6B$11.7B$12.8B$13.7B$14.7B
Revenue growth31.5%14.7%11.6%7.5%-56.9%65.4%35.7%10.0%6.6%7.6%
Gross margin––––––––––
Operating margin5.3%6.2%6.4%7.5%-52.3%2.2%9.3%8.0%9.6%12.7%
Net income$282.0M$378.0M$406.0M$565.0M-$2.6B$12.0M$352.0M$797.0M$1.2B$1.3B
Net margin3.2%3.8%3.6%4.7%-50.2%0.1%3.0%6.2%9.0%8.8%
Diluted EPS$1.82$2.42$2.65$3.77$-19.00$-1.80$2.17$5.31$8.95$9.81
Return on invested capital?8.0%10.2%11.0%13.2%––15.8%19.8%31.3%89.4%
Cash
Operating cash flow$1.5B$1.8B$2.0B$2.8B-$3.8B$3.7B$3.4B$2.7B$3.1B$3.9B
Capital expenditure$749.0M$710.0M$878.0M$1.2B$797.0M$673.0M$662.0M$846.0M$756.0M$770.0M
Free cash flow$800.0M$1.1B$1.1B$1.6B-$4.6B$3.1B$2.8B$1.8B$2.3B$3.1B
Stock-based compensation$242.0M$149.0M$203.0M$241.0M$205.0M$418.0M$374.0M$413.0M$458.0M$398.0M
Owner earnings?$558.0M$986.0M$894.0M$1.4B-$4.8B$2.7B$2.4B$1.4B$1.9B$2.7B
Free cash flow per share$5.18$7.26$7.18$10.72$-32.75$20.54$17.17$12.27$16.89$23.57
Capital allocation
Dividends paid––$186.0M$195.0M$48.0M––$0$0$200.0M
Share repurchases$456.0M$312.0M$923.0M$743.0M$425.0M$165.0M$607.0M$2.1B$1.8B$1.9B
Diluted shares154.5M156.4M152.9M149.9M141.4M149.7M161.8M150.2M137.9M131.9M
Share count change?15.3%1.2%-2.2%-2.0%-5.7%5.9%8.0%-7.1%-8.2%-4.3%
Balance sheet
Cash and equivalents$1.8B$2.8B$2.4B$3.3B$3.4B$4.1B$4.1B$4.2B$4.2B$5.4B
Short-term investments$72.3M$468.0M$28.0M$526.0M$24.0M$200.0M$48.0M$28.0M$300.0M$320.0M
Total debt$3.2B$4.2B$3.7B$4.9B$8.2B$8.4B$6.2B$6.3B$6.3B$6.2B
Net debt$1.3B$934.0M$1.2B$1.1B$4.8B$4.1B$2.1B$2.0B$1.8B$428.0M
Shareholders' equity$4.1B$4.5B$4.1B$4.0B$1.5B$2.1B$2.3B$1.5B$1.6B$1.3B

Latest filings

All on EDGAR
2026-08-0610-QQuarterly report
2026-08-058-KEarnings release
2026-05-0810-QQuarterly report
2026-05-078-KEarnings release
2026-04-29DEF 14AProxy statement
2026-02-1310-KAnnual report
2026-02-128-KEarnings release
2025-11-0710-QQuarterly report
2025-11-068-KEarnings release
2025-08-0810-QQuarterly report

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