Latest revenue
$4.41B
as of 2025-09-30
Latest net income
$959.0M
as of 2025-09-30
Net margin
21.7%
as of 2025-09-30
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $24.57B
- Enterprise value
- $24.96B
- P/E (trailing)
- 15.6×
- Forward P/E
- —
- P/B
- 18.38×
- Dividend yield
- 0.8%
- 52-wk high
- $303.80
- 52-wk low
- $160.00
- Beta
- —
- Shares out
- 114.5M
5-year trend
What this company does
Expedia Group runs online travel booking platforms—including Expedia, Hotels.com, and Vrbo—connecting travelers with hotels, flights, vacation rentals, car rentals, and cruises. It earns money primarily through merchant and agency commissions on bookings, supplemented by advertising revenue, with direct selling and marketing as its largest cost. Revenue grew 6% to $11.2 billion year-to-date with operating income up 32%, while the company aggressively returned capital, repurchasing $1.6 billion in stock and initiating a dividend.
Generated from EXPE's filing dated 2025-11-07
Key risks
- Marketing intensity squeezing margins: direct sales & marketing hit $5.65B (51% of YTD revenue), up 7% YoY and outpacing 6.5% revenue growth.
- Aggressive buybacks eroding equity: $1.6B repurchased YTD plus new $0.40 quarterly dividend, leaving stockholders' equity at just $1.34B versus $6.2B debt.
- Working capital reliance on deferred bookings: $11.1B deferred merchant bookings (up $2.6B YTD) drove operating cash flow — vulnerable if travel demand softens.
Generated from EXPE's filing dated 2025-11-07
Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q3 2025 2025-09-30 | $4.41B | +8.7% | $959.0M | +40.2% | 21.7% |
Q2 2025 2025-06-30 | $3.79B | +6.4% | $130.0M | -48.2% | 3.4% |
Q1 2025 2025-03-31 | $2.99B | +3.4% | $-200.0M | -48.1% | -6.7% |
Q3 2024 2024-09-30 | $4.06B | +3.3% | $684.0M | +60.9% | 16.8% |
Q2 2024 2024-06-30 | $3.56B | +6.0% | $251.0M | +4.6% | 7.1% |
Q1 2024 2024-03-31 | $2.89B | — | $-135.0M | — | -4.7% |
Q3 2023 2023-09-30 | $3.93B | — | $425.0M | — | 10.8% |
Q2 2023 2023-06-30 | $3.36B | — | $240.0M | — | 7.1% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Transportation Services · SIC 4700
Your notes
Keep private notes on EXPE — thesis, target price, catalysts to watch.
Visible only to you. Never shared. Never used to train AI.
Insider activity
Insider buying
$0
Insider selling
$5.3M
Net activity
−$5.3M
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
| Date | Insider | Type | Shares | Price | Value |
|---|
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns EXPE
Institutional value
$12.10B
Total shares held
56.1M
Distinct holders
737
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 10.5M | $2.42B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 7.6M | $1.75B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 5.9M | $1.37B | — | New |
| 4 | Invesco Ltd. | 2.5M | $568.2M | — | New |
| 5 | LYRICAL ASSET MANAGEMENT LP | 1.5M | $344.0M | — | New |
| 6 | FIRST TRUST ADVISORS LP | 1.2M | $275.1M | — | New |
| 7 | DIMENSIONAL FUND ADVISORS LP | 1.2M | $274.9M | — | New |
| 8 | UBS Group AG | 1.0M | $231.8M | — | New |
| 9 | Legal & General Group Plc | 930.2K | $214.8M | — | New |
| 10 | Robeco Institutional Asset Management B.V. | 743.3K | $171.6M | — | New |
| 11 | FEDERATED HERMES, INC. | 726.0K | $167.6M | — | New |
| 12 | Boston Partners | 676.7K | $156.2M | — | New |
| 13 | VANGUARD FIDUCIARY TRUST CO | 674.7K | $155.8M | — | New |
| 14 | Bank of New York Mellon Corp | 671.4K | $155.0M | — | New |
| 15 | LOS ANGELES CAPITAL MANAGEMENT LLC | 572.0K | $132.1M | — | New |
| 16 | BANK OF MONTREAL /CAN/ | 532.5K | $123.0M | — | New |
| 17 | DEUTSCHE BANK AG\ | 482.1K | $111.3M | — | New |
| 18 | Nuveen, LLC | 441.3K | $101.9M | — | New |
| 19 | BNP PARIBAS FINANCIAL MARKETS | 437.3K | $101.0M | — | New |
| 20 | WELLS FARGO & COMPANY/MN | 388.1K | $89.6M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Direct sales & marketing rose to $5.65B (51% of revenue) versus $5.30B—why is marketing intensity climbing while bookings growth decelerates against Booking.com?
- 2
With $1.75B current debt maturities and only $1.34B of common equity after $1.4B buybacks, why prioritize repurchases over deleveraging?
- 3
Accounts receivable jumped to $4.48B from $3.21B—what's driving the 40% increase, and is B2B partner credit risk rising?
Refreshed when EXPE files a new report · last from 2025-11-07