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Expedia Group, Inc.
S&P 500
🏹 Trader: ⭐ All Three 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High 📊 High Volume | BRS 72 Forming View all →
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$35.1B
Market Cap
28.9
P/E
0.79
PEG
43.1%
ROCE
48.7%
ROE
2.55
D/E
14.7%
OPM
-15.0%
% from 52W High
80
α RS
🔍 EXPE is showing a high-conviction setup because it matches 10 of 39 tracked screener presets, RS Rating is 80, and an ECS of 72.5 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating ECS
Sources
Conviction 10/39 · RS Rating 80 · ECS 72.5
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Currency-adjusted total returns for EXPE including FX impact
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📈 Price History
Ratio Health
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About

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.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$4.3B
+14% YoY
Operating Income
$800M
+65% YoY
Operating Margin
18.5%
+5.7pp YoY
Net Income
$878M
+166% YoY
What Went Right
  • Fifth consecutive quarter of beating the high end of guidance: bookings +12% to $33.9B, revenue +14%, adjusted EBITDA +23% to $1.12B.
  • B2B delivered its 20th straight quarter of double-digit growth, with B2B gross bookings +21% and revenue +23%.
  • B2C bookings grew 8% with the fastest U.S. growth in 15 quarters; Vrbo partner-funded offers covered >40% of bookings and the May sale topped $1B in bookings.
What to Watch
  • Europe remains pressured, particularly outbound travel, due to macro headwinds and reduced air capacity.
  • Q3 margin expansion moderates because of tougher comps, ongoing B2B investment, the Tiqets acquisition, and unfavourable net FX impacts.
  • Q3 growth is expected to slow — bookings guided +5-7% with an estimated 1pt FX headwind — reflecting much tougher second-half comparisons.
Management Guidance
  • Q3 revenue guided at $4.65B-$4.75B (+5-8% YoY), with gross bookings of $32.2B-$32.8B (+5-7%).
  • Q3 adjusted EBITDA guided at $1.51B-$1.56B, implying a 32.5%-32.8% margin.
  • Full-year guidance raised: revenue $16.05B-$16.22B (+9-10%), gross bookings $129.5B-$130.8B (+8-9%), and adjusted EBITDA margin expansion of 150-175bps.
Investor Lens
The thesis looks stronger after this call: Expedia delivered another beat, raised full-year guidance, and continues to see healthy travel demand led by the U.S. B2B remains a durable growth engine, while AI/AEO investments add optionality even if they are still early. The main watch items are Q3 margin moderation, B2B investment pressure, and Europe weakness. Overall, the company's execution and raised profitability outlook support a constructive read.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Q2 beat: revenue +14%, adjusted EBITDA margin up ~2pts
Revenue
Revenue rose 14% to $4.3B, above guidance, with gross bookings up 12% to $33.9B. B2B revenue grew 23% and B2B gross bookings grew 21%, while B2C bookings grew 8%.
Profitability
Net income attributable to Expedia jumped 166% to $878M, with GAAP diluted EPS of $7.16, up 188%. Adjusted EBITDA grew 23% to $1.12B and adjusted EPS rose 36% to $5.76.
Margins
Adjusted EBITDA margin expanded by nearly two points to 25.9%, driven by cost efficiencies and consumer marketing leverage. Operating income rose 65% to $800M, taking operating margin to roughly 18.5%.
Balance Sheet
Free cash flow was $1,279M in Q2, up 39%, and $4.5B on a trailing 12-month basis. Expedia repurchased 880K shares for $200M and paid a quarterly dividend of $0.48 per share.
Key Risks
Management flagged continued pressure in Europe outbound travel, tougher second-half comps, and a Q3 FX headwind. B2B margins are also under near-term pressure from partner promotional activity, Tiqets integration, and investments in the one-stop shop.
Outlook
Q3 revenue is guided at $4.65B-$4.75B (+5-8%) and adjusted EBITDA at $1.51B-$1.56B. Full-year guidance was raised to revenue of $16.05B-$16.22B (+9-10%) and adjusted EBITDA margin expansion of 150-175bps.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Q2 results exceeded expectations with 12% bookings and 14% revenue growth, driven by strong U.S. demand and B2B momentum. Full-year guidance was raised, with margin expansion and continued investment in AI and product innovation highlighted.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw double-digit bookings and revenue growth, record margin expansion, and strong B2B and consumer performance, despite macro volatility. AI adoption and new partnerships, including Uber, drove operational gains. Guidance remains cautious amid ongoing uncertainty.
Q4 2025 Q4 2025 2026-02-12
Q4 2025 saw 11% growth in bookings and revenue, with margin expansion and strong B2B and advertising performance. Guidance for 2026 anticipates continued growth and margin improvement, supported by disciplined cost management, AI investments, and robust capital returns.
Q3 2025 Q3 2025 2025-11-06
Bookings rose 12% and revenue 9% year-over-year, with strong margin expansion and robust demand across all regions and brands. B2B and advertising segments outperformed, AI integration accelerated growth, and guidance was raised for Q4 and full year.
Q2 2025 Q2 2025 2025-08-07
Q2 2025 results exceeded expectations with 5% Gross Bookings growth, 6% revenue growth, and nearly two points of Adjusted EBITDA margin expansion. International and B2B segments outperformed, while U.S. demand remained soft. Full-year guidance was raised on strong trends.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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