Expedia Group, Inc.
- Open
- 259.19
- Day high
- 267.56
- Day low
- 256.48
- Prev close
- 255.88
- Volume
- 170K
- Mkt cap
- $32.1B
- P/E (TTM)
- 22.3
- EPS (TTM)
- $11.99
- P/B
- 55.7
- P/S
- 2.1
- Yield
- 0.66%
- Per share
- $1.76
- ▼Insiders net selling -$1.3M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Expedia Group, Inc. (EXPE) is a Consumer Cyclical company listed on NASDAQ. The stock is up 47% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Expedia Group, Inc. (EXPE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EXPE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.41 | $1.96 | +39.0% | $3.4B | +2.2% |
| Feb 12, 2026 | $3.46 | $3.78 | +9.2% | $3.5B | +8.5% |
| Nov 6, 2025 | $6.97 | $7.57 | +8.6% | $4.4B | +3.0% |
| Aug 7, 2025 | $3.97 | $4.24 | +6.8% | $3.8B | +2.1% |
| May 8, 2025 | $0.35 | $0.40 | +13.6% | $3.0B | -0.8% |
| Feb 6, 2025 | $2.06 | $1.84 | -10.7% | $3.2B | +3.7% |
| Nov 7, 2024 | $6.07 | $6.13 | +1.0% | $4.1B | -1.3% |
| Aug 8, 2024 | $3.06 | $3.51 | +14.7% | $3.6B | +0.7% |
| May 2, 2024 | $-0.14 | $0.21 | +250.9% | $2.9B | +3.0% |
| Feb 8, 2024 | $1.67 | $1.72 | +3.0% | $2.9B | +0.4% |
| Nov 2, 2023 | $5.15 | $5.41 | +5.0% | $3.9B | +1.8% |
| Aug 3, 2023 | $2.32 | $2.89 | +24.6% | $3.4B | -0.3% |
EXPE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | Dzielak Robert Jofficer: Chief Legal Officer & Sec'y | Sell | 4,702 | $233.00 |
| Jun 2, 2026 | Jacobson Craig Adirector | Grant | 1,107 | — |
| Jun 2, 2026 | Menendez-Cambo Patriciadirector | Option | 499 | — |
| Jun 2, 2026 | Wang Alexandrdirector | Grant | 1,107 | — |
| Jun 2, 2026 | Clinton Chelseadirector | Option | 871 | — |
| Jun 2, 2026 | Dubugras Henrique Vasoncelosdirector | Option | 871 | — |
| Jun 2, 2026 | Von Furstenberg Alexanderdirector | Option | 499 | — |
| Jun 2, 2026 | KHOSROWSHAHI DARAdirector | Option | 738 | — |
| Jun 2, 2026 | Anderson Beverly Jdirector | Option | 871 | — |
| Jun 2, 2026 | Wang Alexandrdirector | Option | 738 | — |
| Jun 2, 2026 | Clinton Chelseadirector | Option | 499 | — |
| Jun 2, 2026 | KHOSROWSHAHI DARAdirector | Option | 871 | — |
| Jun 2, 2026 | Dubugras Henrique Vasoncelosdirector | Option | 499 | — |
| Jun 2, 2026 | Dubugras Henrique Vasoncelosdirector | Option | 738 | — |
| Jun 2, 2026 | Anderson Beverly Jdirector | Option | 738 | — |
Source: EXPE SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full EXPE insider & 13F page →Expedia Group, Inc. company profile
Overview
Expedia Group, Inc. (NASDAQ:EXPE) is a leading online travel company founded in 1996 and headquartered in Seattle, Washington. Originally launched as a division of Microsoft, the company went public in 2005 and has since evolved into one of the world's largest online travel platforms through strategic acquisitions and organic growth. The company changed its name from Expedia, Inc. to Expedia Group, Inc. in March 2018 to better reflect its diverse portfolio of travel brands. Today, Expedia Group operates a comprehensive ecosystem of travel brands serving both leisure and corporate travelers across global markets.
Business
Expedia Group operates in the online travel agency (OTA) industry, which serves as an intermediary between travelers and travel service providers like hotels, airlines, car rental companies, and vacation rental owners. The company facilitates travel bookings through digital platforms, earning commissions and fees from completed transactions. The company operates through three primary business segments: 1. Retail Segment (B2C) - Approximately 75-80% of revenue: This segment includes consumer-facing travel brands such as Brand Expedia (full-service travel booking), Hotels.com (hotel-focused marketplace), Vrbo (vacation rental marketplace), Orbitz, Travelocity, CheapTickets, and Hotwire. These platforms allow individual travelers to search, compare, and book travel accommodations, flights, car rentals, cruises, and vacation packages directly through websites and mobile applications. 2. B2B Segment - Approximately 15-20% of revenue: This includes Expedia Partner Solutions, which provides white-label travel booking technology and inventory to other businesses including corporate travel management companies, airlines, travel agents, online retailers, and financial institutions. Egencia, the corporate travel management service, also falls under this segment, serving business travelers and travel managers. 3. Trivago Segment - Approximately 5% of revenue: Trivago operates as a hotel metasearch engine that aggregates hotel prices from multiple booking sites and refers users to partner websites for actual bookings. This segment generates revenue primarily through referral fees and advertising from hotel booking partners. The company's brands also offer loyalty programs (particularly the One Key program spanning multiple brands), advertising services for travel partners, and media solutions that help travel suppliers reach targeted audiences across the platform ecosystem.
Revenue model
Expedia Group operates on a commission-based marketplace model with multiple revenue streams. The primary revenue sources include: 1. Transaction Commissions: The company earns commissions from travel suppliers (hotels, airlines, car rental companies) when customers complete bookings through its platforms. Commission rates typically range from 10-25% for hotels and vary by supplier type and booking volume. 2. Advertising Revenue: Travel suppliers pay for enhanced visibility on Expedia's platforms through sponsored listings, display advertising, and promotional placements. This high-margin revenue stream has been growing rapidly, with 25-32% growth rates in recent quarters. 3. B2B Technology and Service Fees: The company charges subscription fees and transaction-based pricing for its white-label travel technology solutions and corporate travel management services. 4. Referral Fees: Trivago generates revenue by referring users to partner booking sites and earning fees based on successful referrals and bookings. The company's paying customers include both end consumers booking travel and business partners paying for technology services and advertising. Revenue margins are influenced by several factors: Margin-enhancing factors include higher-value bookings (luxury hotels, packages), direct traffic growth (reducing customer acquisition costs), increased loyalty program engagement, growth in high-margin advertising revenue, and operational efficiency improvements through AI and technology automation. Margin-pressuring factors include increased competition from other OTAs and direct supplier booking, rising customer acquisition costs through paid marketing channels, economic downturns reducing travel demand and average daily rates (ADR), currency fluctuations in international markets, and the need for continuous technology investments to maintain competitive positioning.
Competitive moat
Expedia Group possesses a moderate competitive moat built primarily on network effects, scale advantages, and brand recognition, though this moat faces ongoing challenges from multiple directions. The company's strengths include significant scale advantages with over $111 billion in annual gross bookings, providing leverage in supplier negotiations and technology investment capabilities. Its diverse brand portfolio allows the company to serve different customer segments and reduce dependence on any single brand. The extensive supplier network and inventory breadth create value for consumers through comprehensive selection and competitive pricing. Additionally, the growing One Key loyalty program with over 100 million members creates switching costs and increases customer lifetime value. However, the moat is not particularly strong due to several vulnerabilities. The online travel industry has relatively low barriers to entry, with new competitors regularly emerging. Travel suppliers increasingly prefer direct bookings to avoid commission payments, leading to ongoing disintermediation pressure. The company faces intense competition from other major OTAs like Booking Holdings, Google's travel services, and direct supplier websites. Customer loyalty in travel booking is generally weak, with consumers frequently comparing prices across multiple platforms. Competitive threats come from established players like Booking.com (which has stronger market positions in many international markets), Google's expanding travel services that leverage its search dominance, direct booking initiatives by hotels and airlines, and emerging AI-powered travel planning tools that could disrupt traditional booking patterns. The company's competitive position varies significantly by geography, with stronger positions in North America but facing more intense competition in European and Asian markets.
Risks & safety
The company presents a moderate margin of safety with mixed financial health indicators: Liquidity and Solvency: - Strong cash position: $5.6 billion in cash and short-term investments as of Q4 2024 - Current ratio of 0.72 indicates potential short-term liquidity concerns - High debt-to-equity ratio of 4.19 suggests elevated leverage - Positive free cash flow generation: $2.3 billion in 2024 - No immediate solvency risk given strong cash flows and liquidity facilities Valuation Metrics: - P/E ratio of 19.8x (based on 2024 earnings) appears reasonable for growth profile - EV/EBITDA of 9.7x suggests moderate valuation - Price-to-book ratio of 15.7x is elevated, reflecting asset-light business model - Revenue multiple appears reasonable given growth trajectory and market position Other Considerations: - Cyclical business model vulnerable to economic downturns and travel disruptions - Seasonal cash flow patterns with stronger performance in peak travel periods - Currency exposure from international operations creates earnings volatility - Capital requirements relatively low due to asset-light model
Recent development
Over the past few years, Expedia Group has undergone significant strategic transformation focused on operational efficiency, technology modernization, and portfolio optimization. The company launched the One Key loyalty program in 2023, unifying rewards across its major brands and building a membership base of over 100 million users. This cross-brand initiative has driven increased customer engagement and cross-shopping between platforms. The company has made substantial investments in artificial intelligence and automation, deploying AI for customer service (virtual agents now handle nearly half of traveler inquiries), personalized recommendations, review summaries, and operational efficiency. These technology initiatives have contributed to margin expansion and improved customer experiences. Leadership changes have been significant, with Peter Kern stepping down as CEO in 2024, replaced by Ariane Gorin, who previously led the B2B business. Julie Whalen also departed as CFO, with the company bringing in new technology leadership including Chief Technology Officer Ramana Thumu. The B2B business has emerged as a key growth driver, consistently delivering 20%+ growth rates through expansion with existing partners and selective new partnerships. This segment provides more stable, recurring revenue streams compared to the consumer business. The company has also focused on operational efficiency improvements, eliminating organizational layers, restructuring approximately 4% of employees, and leveraging AI to streamline operations. These efforts have contributed to EBITDA margin expansion of 50-100 basis points annually. Additionally, Expedia has strengthened its supplier relationships, becoming the first OTA to list Southwest Airlines inventory and expanding partnerships with budget carriers like Ryanair.
EXPE company profile · for informational purposes only — not investment advice.
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