# Expedia Group, Inc. (EXPE)

> Source: Nexqual · https://nexqual.com/EXPE · data as of 2026-10-29 16:31 UTC · cite as "Nexqual, Expedia Group, Inc. (EXPE), nexqual.com/EXPE" · informational, not investment advice.

**Price:** USD 282.1 (+2.38% today) · US market open, as of October 29, 2026 at 16:31 UTC; quotes may be delayed. Prev close 275.53 · day 273.95–285.24 · 52w 185.34–342 · market cap $33.9B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $15.7B, net income $2.04B (13.0% margin), free cash flow $4.46B (SEC filings).
- Valuation: P/E 16.6x (avg 26.1x at the last 3 fiscal year-ends), EV/EBITDA 9.4x, net cash $1.67B.
- 2 of 80 tracked superinvestors hold EXPE (13F, Q2 2026): 1 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 2.58 on a 1–5 scale) (38 analysts), mean target USD 337.79 (range 235–430).
- Total return with dividends: 1Y +29.3% vs S&P 500 +13.1%; 5Y +74.0% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD 8.89, revenue estimate $4.73B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.60B | $11.7B | $12.8B | $13.7B | $14.7B | $15.7B |
| Operating income | $186M | $1.08B | $1.03B | $1.32B | $1.87B | $2.51B |
| Net income | $12.0M | $352M | $797M | $1.23B | $1.29B | $2.04B |
| EPS (diluted) | -$1.80 | $2.17 | $5.31 | $8.95 | $9.81 | — |
| Free cash flow | $3.08B | $2.78B | $1.84B | $2.33B | $3.11B | $4.46B |
| Operating margin | 2.2% | 9.3% | 8.0% | 9.6% | 12.7% | 16.0% |
| Net margin | 0.1% | 3.0% | 6.2% | 9.0% | 8.8% | 13.0% |
| Revenue growth | +65.4% | +35.7% | +10.0% | +6.6% | +7.6% | — |
| Cash + short-term investments | $4.31B | $4.14B | $4.25B | $4.48B | $5.73B | — |
| Total debt | $8.45B | $6.24B | $6.25B | $6.27B | $6.16B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 16.6x · P/S 2.2x · EV/EBITDA 9.4x · EV/Sales 2.0x · P/FCF 7.6x · P/B 28.0x · FCF yield 13.17% · Earnings yield 6.01% · Dividend yield (paid, TTM) 0.63% · Buyback yield (TTM) 5.66% · Net cash $1.67B · EV $32.2B
P/E at fiscal year-ends: Dec 2025 28.9x, Dec 2024 20.8x, Dec 2023 28.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold EXPE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Samantha McLemore | Patient Capital Management | 1.43% | $42.9M | Added +0.0% |
| Richard Pzena | Pzena Investment Management | <0.01% | $271K | New position |

## Analysts
Consensus Hold (mean 2.58 on a 1–5 scale), 38 analysts; mean target USD 337.79 (low 235, high 430).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | Wells Fargo | Target lowered | Equal-Weight | $307 → $275 |
| 2026-10-06 | BTIG | Reiterated | Buy | $400 |
| 2026-09-30 | Truist Securities | Target lowered | Hold | $309 → $288 |
| 2026-09-01 | Rosenblatt | Initiated | Neutral | $360 |
| 2026-08-25 | BTIG | Target raised | Buy | $350 → $400 |
| 2026-08-24 | Evercore ISI Group | Target raised | Outperform | $375 → $430 |
| 2026-08-20 | Wedbush | Target raised | Outperform | $334 → $417 |
| 2026-08-12 | UBS | Target raised | Neutral | $322 → $351 |
| 2026-08-07 | TD Cowen | Target raised | Hold | $285 → $320 |
| 2026-08-07 | Wells Fargo | Target raised | Equal-Weight | $303 → $307 |
| 2026-08-07 | Susquehanna | Target raised | Neutral | $250 → $315 |
| 2026-08-06 | RBC Capital | Target raised | Sector Perform | $290 → $330 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +29.3% | +74.0% |
| S&P 500 (SPY) | +13.1% | +79.1% |
| Per year | +29.3% | +11.7% |
| Volatility (annualized) | 50.9% | 44.4% |
| Max drawdown | -37.4% (Jan 2026→Feb 2026) | -58.7% (Feb 2022→Dec 2022) |

## Peers (Travel Services)
CCL (Carnival Corporation Ltd.) USD 28.87 +2.89% · VIK (Viking Holdings Ltd) USD 88.66 +2.50% · TCOM (Trip.com Group Limited) USD 38.44 -0.34% · RCL (Royal Caribbean Cruises Ltd.) USD 311.85 +4.54% · ABNB (Airbnb, Inc.) USD 167.09 +0.63% · BKNG (Booking Holdings Inc. Common St) USD 149.94 +1.35%

## More
Full page: https://nexqual.com/EXPE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in EXPE's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | "In addition, as a result of our migration of key portions of our platform functionality to Amazon Web Services ("AWS"), we now depend on the availability of AWS's services and any incident affecting AWS's infrastructure …" |
| Partner | Alphabet (Google) (GOOGL) | "For example, Google has in the past, and may continue to in the future, change its algorithms or results in a manner that negatively affects the search engine ranking, both paid and unpaid, of our websites, the websites …" |
| Partner | Uber (UBER) | "Ride sharing app Uber has added transportation and experience offerings to its app via partnerships with other travel providers." |
| Competitor | Booking Holdings (BKNG) | "Competitive entrants such as "metasearch" companies, including Kayak.com (owned by Booking Holdings), trivago (in which Expedia Group owns a majority interest) as well as TripAdvisor, introduced differentiated features, …" |
| Competitor | Airbnb (ABNB) | "Other competitors have arisen, including alternative accommodation property managers, who operate their own booking sites in addition to listing on Airbnb, Vrbo, and Booking.com." |

Other companies that name EXPE in their own reports (relationship from EXPE's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | NextTrip, Inc. (NTRP) | 10-K 2026-05-29 | "Major suppliers include Expedia (worldwide hotel product), Nuitée (hotel and vacation rental homes), Global Distribution" |
| supplier | Freightos Ltd (CRGO) | 20-F 2026-03-26 | "This duality can be understood by rough analogy to passenger travel in which global distribution systems such as Amadeus and Sabre connect travel companies to carriers, while Booking.com, Expedia and …" |
| supplier | Klarna Group plc (KLAR) | 20-F 2026-02-26 | "Expedia transactions made by new Klarna customers more than doubled in the United States year over" |
| partner | trivago N.V. (TRVG) | 20-F 2026-02-26 | "We continue to generate the great majority of our revenue from our largest OTA advertisers, including brands affiliated with Booking Holdings, such as Booking.com, Agoda and priceline.com, and those a…" |
| supplier | Allegiant Travel CO (ALGT) | 10-K 2026-02-26 | "We seek to sell our product directly to our customers as opposed to through outside sales channels, thus largely avoiding the fees charged by travel websites (Expedia, Orbitz or Travelocity) and tradi…" |
| related | People Inc (PPLI) | 10-K 2026-02-20 | "The Company and Expedia Group are related parties because Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia Group." |
| supplier | American Airlines Group Inc. (AAL) | 10-K 2026-02-18 | "While our priority is to migrate an increasing portion of our customers to our modern, direct distribution channels in lieu of third party channels, we continue to rely on third-party distribution cha…" |
| competitor | Booking Holdings Inc. (BKNG) | 10-K 2026-02-18 | "The market for accommodations covers a wide range of property types including alternative accommodations and companies like Airbnb and Vrbo (owned by Expedia) compete directly with our accommodations …" |
| partner | TripAdvisor, Inc. (TRIP) | 10-K 2026-02-13 | "For the years ended December 31, 2025 and 2024, Booking (and its subsidiaries) accounted for 10% or more of our consolidated revenue, and together with Expedia (and its subsidiaries), our two most sig…" |
| competitor | Airbnb, Inc. (ABNB) | 10-K 2026-02-12 | "•online travel agencies ("OTAs"), such as Booking Holdings (including the brand Booking.com), Expedia Group (including the brands Expedia and VRBO), Trip.com Group, and other regional OTAs;" |
| partner | SOUTHWEST AIRLINES CO (LUV) | 10-K 2026-02-05 | "The Company has expanded its distribution channels through partnerships with flight meta search engines, including Google Flights, Kayak, Skyscanner, and, in 2025, online travel agencies Expedia and P…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $8.89 | $8.48 | +4.8% | $4.73B | 25 |
| Next quarter (ends 2026-12-31) | $4.59 | $4.39 | +4.5% | $3.74B | 24 |
| Current fiscal year (ends 2026-12-31) | $21.06 | $19.73 | +6.7% | $16.21B | 29 |
| Next fiscal year (ends 2027-12-31) | $24.58 | $22.97 | +7.0% | $17.36B | 31 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $5.76 | $5.25 | Beat +9.7% | — |
| — | Quarter ended Mar 31, 2026 | $1.96 | $1.38 | Beat +42.0% | — |
| — | Quarter ended Dec 31, 2025 | $3.78 | $3.37 | Beat +12.2% | — |
| — | Quarter ended Sep 30, 2025 | $7.57 | $6.95 | Beat +8.9% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1324424/000132442426000053/0001324424-26-000053-index.htm |
| 2026-08-05 | 8-K | Quarterly results; Regulation FD disclosure; Other material event — “Expedia Group's Executive Committee, acting on behalf of its Board of Directors, declared a quarterly cash dividend of $0.48 per share of outstanding common stock payable on September 17, 2026 to stockholders of record as of the close of business on August 27, 2026.” | https://www.sec.gov/Archives/edgar/data/1324424/000132442426000051/0001324424-26-000051-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.