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Expedia Group, Inc. operates as an online travel company in the United States and internationally. The company operates through B2C, B2B, and trivago segments. The B2C segment includes Brand Expedia, a full-service online travel brand offers various travel products and services; Hotels.com for lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; and Orbitz, Travelocity, ebookers, and Wotif Group. The B2B segment provides various travel and non-travel companies including airlines, offline travel agents, online retailers, corporate travel management, and financial institutions who leverage its travel technology and tap into its diverse supply to augment their offerings and market Expedia Group rates and availabilities to its travelers. The trivago segment sends referrals to online travel companies and travel service providers from hotel metasearch websites. In addition, it provides brand advertising through online and offline channels, loyalty programs, mobile apps, and search engine marketing, as well as metasearch, social media, direct and personalized traveler communications on its websites, and through direct e-mail communication with its travelers. The company was formerly known as Expedia, Inc. and changed its name to Expedia Group, Inc. in March 2018. Expedia Group, Inc. was founded in 1996 and is headquartered in Seattle, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $14.7B | $2.8B | $1.3B | $3.1B | 100.8% | 7.6% | 4.9% |
| 2024 | $13.7B | $2.6B | $1.2B | $2.3B | 79.3% | 6.6% | 54.8% |
| 2023 | $12.8B | $2.1B | $797M | $1.8B | 52.0% | 10.0% | 126.4% |
| 2022 | $11.7B | $1.6B | $352M | $2.8B | 15.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 11,667 | 12,839 | 13,691 | 14,733 |
| Operating Revenue | - | 11,667 | 12,839 | 13,691 | 14,733 |
| Cost Of Revenue | - | 1,657 | 1,573 | 1,443 | 1,456 |
| Gross Profit | - | 10,010 | 11,266 | 12,248 | 13,277 |
| Operating Expense | - | 8,821 | 9,732 | 10,578 | 11,114 |
| Research And Development | - | 1,181 | 1,358 | 1,314 | 1,277 |
| Selling General And Administration | - | 6,848 | 7,634 | 8,432 | 8,950 |
| Total Expenses | - | 10,478 | 11,305 | 12,021 | 12,570 |
| Operating Income | - | 1,189 | 1,534 | 1,670 | 2,163 |
| Total Operating Income As Reported | - | 1,085 | 1,033 | 1,319 | 1,871 |
| EBITDA | - | 1,607 | 2,070 | 2,626 | 2,777 |
| Normalized EBITDA | - | 2,041 | 2,548 | 2,743 | 3,286 |
| EBIT | - | 815 | 1,263 | 1,788 | 1,890 |
| Interest Income | - | 60 | 207 | 235 | 255 |
| Interest Expense | - | 277 | 245 | 246 | 299 |
| Net Interest Income | - | -217 | -38 | -11 | -44 |
| Other Non Operating Income Expenses | 19 | - | 67 | - | -19 |
| Other Income Expense | - | -434 | -478 | -117 | -528 |
| Interest Income Non Operating | - | 60 | 207 | 235 | 255 |
| Interest Expense Non Operating | - | 277 | 245 | 246 | 299 |
| Net Non Operating Interest Income Expense | - | -217 | -38 | -11 | -44 |
| Pretax Income | - | 538 | 1,018 | 1,542 | 1,591 |
| Tax Provision | - | 195 | 330 | 318 | 290 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -157.11 | -154.87 | -24.10 | -92.64 |
| Net Income Continuous Operations | - | 343 | 688 | 1,224 | 1,301 |
| Net Income From Continuing And Discontinued Operation | - | 352 | 797 | 1,234 | 1,294 |
| Net Income From Continuing Operation Net Minority Interest | - | 352 | 797 | 1,234 | 1,294 |
| Net Income | - | 352 | 797 | 1,234 | 1,294 |
| Net Income Common Stockholders | - | 352 | 797 | 1,234 | 1,294 |
| Net Income Including Noncontrolling Interests | - | 343 | 688 | 1,224 | 1,301 |
| Normalized Income | - | 628.89 | 1,120.13 | 1,326.90 | 1,710.36 |
| Diluted NI Availto Com Stockholders | - | 352 | 797 | 1,234 | 1,294 |
| Basic Average Shares | - | 156.67 | 144.97 | 131.43 | 125.36 |
| Diluted Average Shares | - | 161.75 | 150.23 | 137.92 | 131.94 |
| Reconciled Depreciation | - | 792 | 807 | 838 | 887 |
| Reconciled Cost Of Revenue | - | 1,657 | 1,573 | 1,443 | 1,456 |
| Total Unusual Items | - | -434 | -478 | -117 | -509 |
| Total Unusual Items Excluding Goodwill | - | -434 | -478 | -117 | -509 |
| Preferred Stock Dividends | 67 | - | - | - | - |
| Minority Interests | - | 9 | 109 | 10 | -7 |
| Special Income Charges | - | -49 | -409 | -340 | -289 |
| Gain On Sale Of Business | - | 6 | 25 | 5 | 3 |
| Other Special Charges | - | -26 | 8 | 118 | 185 |
| Impairment Of Capital Assets | - | 81 | 426 | 147 | 0 |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 80 | 107 |
| Gain On Sale Of Security | - | -385 | -69 | 223 | -220 |
| Depreciation Amortization Depletion Income Statement | - | 792 | 807 | 838 | 887 |
| Depreciation And Amortization In Income Statement | - | 792 | 807 | 838 | 887 |
| General And Administrative Expense | - | 748 | 771 | 805 | 765 |
| Other Gand A | - | 157 | 153 | 167 | 178 |
| Salaries And Wages | - | 591 | 618 | 638 | 587 |
| Selling And Marketing Expense | - | 6,100 | 6,863 | 7,627 | 8,185 |
| Otherunder Preferred Stock Dividend | 214 | 0 | 0 | - | - |
| Amortization | - | 88 | 59 | 57 | 40 |
| Amortization Of Intangibles Income Statement | - | 88 | 59 | 57 | 40 |
| Depreciation Income Statement | - | 704 | 748 | 781 | 847 |
| Other Taxes | - | 0 | -67 | -6 | 0 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Expedia Group, Inc.this co. | EXPE | $27.3B | 21.07↓ discount | 21.24 | 100.8% | 10.18 |
| Tapestry, Inc. | TPR | $28.4B | 154.92 | 33.09 | 21.4% | 59.20 |
| Casey's General Stores, Inc. | CASY | $28.2B | 51.65 | 8.05 | 15.6% | 25.72 |
| Williams-Sonoma, Inc. | WSM | $24.5B | 22.51 | 11.77 | 52.3% | 15.14 |
| Lennar Corporation | LEN | $22.6B |
| - |
| - |
| - |
| - |
| - |
| 10.89 |
| 1.03 |
| 9.5% |
| 8.58 |
| PulteGroup, Inc. | PHM | $22.5B | 10.15 | 1.73 | 17.1% | 7.55 |
| Rollins, Inc. | ROL | $22.4B | 42.51 | 16.29 | 38.3% | 27.31 |
| Smurfit Westrock Plc | SW | $22.2B | 31.72 | 1.21 | 3.8% | 8.06 |
| Darden Restaurants, Inc. | DRI | $22.2B | 21.11 | 9.59 | 45.4% | 14.96 |
| Peer Median | - | 27.12 | 8.82 | 19.2% | 15.05 | |