EXPENasdaqTransportation ServicesFiscal year ends December 31
Expedia Group, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$291.72+2.77 (+0.96%)
Close on Oct 19, 2026
- Market cap
- $35.75B
- P/E (TTM)
- 18.2
- Dividend yield
- 0.55%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
90.1%+21.8 pts over 5 years
Operating margin
12.7%+65.0 pts over 5 years
Net margin
8.8%+59.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.6% | +8.1% | +23.2% | +8.2% | |
| Gross profit | +8.4% | +9.9% | +30.2% | +9.5% | |
| Operating income | +41.8% | +19.9% | – | +16.3% | |
| Net income | +4.9% | +54.3% | – | +5.4% | |
| EPS, diluted | +9.6% | +65.3% | – | +5.6% | |
| Free cash flow | +33.5% | +3.8% | – | +18.3% | |
| Dividend per share | – | – | +36.3% | +6.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 6.3% | -95.4% | 91.1% | |
| Return on assets | 1.8% | -13.0% | 5.5% | |
| Current ratio | 0.56 | 1.04 | 0.73 | |
| Debt to equity | 0.76 | 5.44 | 4.80 | |
| Net debt to EBITDA | – | -2.23× | 0.27× | |
| Interest coverage | 2.7× | -7.6× | 6.3× | |
| Capex to revenue | 8.5% | 15.3% | 5.2% | |
| Diluted shares | 155M | 141M | 132M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Expedia generated $16.84B from operations and spent $10.59B on capital expenditure, dividends and share buybacks. 35% of that went back into the business.
Generated
$16.84B
Used
$10.59B
Capital expenditure$3.71B35%Dividends$200.00M2%Share buybacks$6.68B63%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.8%
×Asset turnover0.63×
×Equity multiplier16.49×
=Return on equity, FY202591.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.8% | 0.63× | 16.49× | 91.1% |
| FY2024 | 9.0% | 0.62× | 14.24× | 79.8% |
| FY2023 | 6.2% | 0.59× | 11.32× | 41.8% |
| FY2022 | 3.0% | 0.54× | 9.93× | 16.2% |
| FY2021 | 0.1% | 0.43× | 11.28× | 0.7% |
| FY2020 | -50.2% | 0.26× | 7.32× | -95.4% |
| FY2019 | 4.7% | 0.61× | 4.89× | 14.0% |
| FY2018 | 3.6% | 0.61× | 4.24× | 9.4% |
| FY2017 | 3.8% | 0.59× | 3.96× | 8.7% |
| FY2016 | 3.2% | 0.56× | 3.47× | 6.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
9of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.29B
- Cash generatingOperating cash flow above zero$3.88B
- Return on assets improvedROA up on the prior year5.7% → 5.8%
- Earnings backed by cashOperating cash flow above net income$3.88B vs $1.29B
- Less leverageLong-term debt to assets fell23.3% → 18.3%
- Better liquidityCurrent ratio rose0.72 → 0.73
- No dilutionShare count did not rise138M → 132M
- Gross margin improvedGross margin up on the prior year89.46% → 90.12%
- More efficientAsset turnover rose0.63 → 0.66