Expedia Group Inc
EXPE—
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Expedia Group Inc AI Insights
Informational only. Not investment advice.Snapshot
- Working capital of -4.4B means customers pay upfront before travel - a structural float advantage funding operations interest-free.[Working Capital]
- Goodwill of 6.9B is 514% of equity (1.3B) - any impairment would devastate book value already at -6.3B tangible.[Goodwill]
- ROE of 104% TTM vs industry median 8% driven by minimal equity base (1.3B) - leverage amplifies returns and risks.[Return on Equity]
Watch Triggers
- Working Capital: Turns positive or improves toward zero — Would signal booking slowdown or refund surge - destroys float advantage
- Goodwill: Impairment charge exceeds 500M — At 514% of equity, material impairment could trigger covenant issues
- Free Cash Flow TTM: Falls below 2B — Would constrain buybacks and force deleveraging over shareholder returns
Bull Case
Asset-light model: 90% gross margin TTM (vs 37% industry median) with negative working capital creates a capital-efficient compounder.
Gross Margin TTMWorking CapitalROIC TTM
ROIC of 17.7% TTM vs industry median 4% demonstrates pricing power and platform scale despite competitive OTA market.
Return on Invested Capital TTMOperating Margin TTM
Bear Case
Debt/equity of 4.8x with tangible book value of -6.3B leaves zero margin for error; any earnings miss pressures refinancing.
Debt to EquityTangible Book ValueLong Term Debt
P/E of 21.7x near industry median 25x despite 4.8x leverage - not pricing in balance sheet risk or cyclical exposure.
P/E RatioP/S RatioEnterprise Value
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
FCF generation will sustain aggressive buybacks, shrinking share count 5-8% annually through 2027.
1-3yhigh
- 3.0B FCF TTM on 14.4B revenue (21% margin)
- Negative working capital provides additional float
- Debt/equity of 4.8x limits dividend increases
FCF 3.0B vs capex 776M (3.9x coverage)Cash 5.8B covers current debt 1.7B 3.4xEPS 12.20 TTM supports buyback math
Valuation Context
Caveats
Public Strategies Rankings
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EXPE Fundamentals
Administrative and Support and Waste Management and Remediation Services → Administrative and Support Services
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$28.89B | — | ||
$29.89B | — | ||
23 | — | ||
$14.73B | +7.6% | — | |
$9.81 | +34.7% | — | |
14.7% | +2.5% | — | |
8.78% | -0.2% | — | |
$3.11B | +33.5% | — | |
91.1% | +11.2% | — | |
Beta 5Y (Monthly) | unknown | — |
EXPE Dividend History
47 dividends
2026
$0.480003/05/26$0.4800
2025
$1.600011/19/25$0.4000
08/28/25$0.4000
05/29/25$0.4000
03/06/25$0.4000
2020
$0.340003/09/20$0.3400
2019
$1.320011/18/19$0.3400
08/21/19$0.3400
05/22/19$0.3200
03/06/19$0.3200
2018
$1.240011/14/18$0.3200
08/22/18$0.3200
05/23/18$0.3000
03/07/18$0.3000
2017
$1.160011/15/17$0.3000
08/22/17$0.3000
05/23/17$0.2800
03/07/17$0.2800
2016
$1.000011/15/16$0.2600
08/23/16$0.2600
05/24/16$0.2400
03/08/16$0.2400
2015
$0.840011/17/15$0.2400
08/25/15$0.2400
05/26/15$0.1800
03/06/15$0.1800
2014
$0.660011/18/14$0.1800
08/25/14$0.1800
05/28/14$0.1500
03/06/14$0.1500
2013
$0.560011/19/13$0.1500
08/26/13$0.1500
05/28/13$0.1300
03/07/13$0.1300
2012
$0.960012/13/12$0.5200
11/14/12$0.1300
08/24/12$0.1300
05/25/12$0.0900
03/08/12$0.0900
2011
$0.560011/16/11$0.1400
08/24/11$0.1400
05/25/11$0.1400
03/09/11$0.1400
2010
$0.560011/16/10$0.1400
08/24/10$0.1400
05/25/10$0.1400
03/09/10$0.1400
EXPE Stock Splits
1 stock split
12/21/112:1 split
EXPE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/13/26 | 12/31/25 | 10-K | |
11/07/25 | 09/30/25 | 10-Q | |
08/08/25 | 06/30/25 | 10-Q | |
05/09/25 | 03/31/25 | 10-Q | |
02/07/25 | 12/31/24 | Unknown | |
11/08/24 | 09/30/24 | 10-Q | |
08/09/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
02/09/24 | 12/31/23 | 10-K | |
11/03/23 | 09/30/23 | 10-Q | |
08/03/23 | 06/30/23 | 10-Q | |
05/05/23 | 03/31/23 | 10-Q | |
02/10/23 | 12/31/22 | 10-K | |
11/04/22 | 09/30/22 | 10-Q | |
08/05/22 | 06/30/22 | 10-Q | |
05/03/22 | 03/31/22 | 10-Q | |
02/11/22 | 12/31/21 | 10-K | |
11/05/21 | 09/30/21 | 10-Q | |
08/06/21 | 06/30/21 | 10-Q | |
05/07/21 | 03/31/21 | 10-Q | |
02/12/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
07/31/20 | 06/30/20 | 10-Q | |
05/21/20 | 03/31/20 | 10-Q | |
02/14/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
07/25/19 | 06/30/19 | 10-Q | |
05/03/19 | 03/31/19 | 10-Q | |
02/08/19 | 12/31/18 | 10-K | |
10/26/18 | 09/30/18 | 10-Q | |
07/27/18 | 06/30/18 | 10-Q | |
04/27/18 | 03/31/18 | 10-Q | |
02/09/18 | 12/31/17 | 10-K | |
10/27/17 | 09/30/17 | 10-Q | |
07/28/17 | 06/30/17 | 10-Q | |
04/28/17 | 03/31/17 | 10-Q | |
02/10/17 | 12/31/16 | 10-K | |
10/28/16 | 09/30/16 | 10-Q | |
07/29/16 | 06/30/16 | 10-Q | |
04/29/16 | 03/31/16 | 10-Q | |
02/11/16 | 12/31/15 | 10-K | |
10/30/15 | 09/30/15 | 10-Q | |
07/31/15 | 06/30/15 | 10-Q | |
05/01/15 | 03/31/15 | 10-Q | |
02/06/15 | 12/31/14 | 10-K | |
10/31/14 | 09/30/14 | 10-Q | |
08/01/14 | 06/30/14 | 10-Q | |
05/02/14 | 03/31/14 | 10-Q | |
02/07/14 | 12/31/13 | 10-K | |
10/31/13 | 09/30/13 | 10-Q | |
07/26/13 | 06/30/13 | 10-Q | |
04/26/13 | 03/31/13 | 10-Q | |
02/06/13 | 12/31/12 | 10-K | |
10/26/12 | 09/30/12 | 10-Q | |
07/27/12 | 06/30/12 | 10-Q | |
04/27/12 | 03/31/12 | 10-Q | |
02/10/12 | 12/31/11 | 10-K | |
11/07/11 | 09/30/11 | 10-Q | |
07/29/11 | 06/30/11 | 10-Q | |
04/29/11 | 03/31/11 | 10-Q | |
02/11/11 | 12/31/10 | 10-K | |
10/29/10 | 09/30/10 | 10-Q | |
07/30/10 | 06/30/10 | 10-Q | |
04/30/10 | 03/31/10 | 10-Q | |
02/11/10 | 12/31/09 | 10-K | |
10/29/09 | 09/30/09 | 10-Q | |
07/30/09 | 06/30/09 | 10-Q | |
04/30/09 | 03/31/09 | 10-Q | |
02/19/09 | 12/31/08 | 10-K | |
10/30/08 | 09/30/08 | 10-Q | |
07/31/08 | 06/30/08 | 10-Q | |
05/02/08 | 03/30/08 | Unknown | -- |
02/22/08 | 12/31/07 | 10-K | |
11/08/07 | 09/30/07 | 10-Q | |
08/03/07 | 06/30/07 | 10-Q | |
05/09/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 5 | |
11/14/06 | 09/30/06 | 10-Q | |
08/11/06 | 06/30/06 | 10-Q | |
05/15/06 | 03/30/06 | Unknown | -- |
03/31/06 | 12/31/05 | 10-K | |
11/14/05 | 09/30/05 | 10-Q | |
08/11/06 | 06/30/05 | 10-Q | |
05/15/06 | 03/30/05 | 10-Q | |
04/25/05 | 12/31/04 | MS10-K | -- |
11/14/05 | 09/30/04 | 10-Q |