Consumer Discretionary · Hotels, Resorts & Cruise Lines · US stock · price as of 16 Oct 2026
Key indicators
Price
$288.95
52-week range
$184.28 – $341.51
Market cap
$35.4B
P/E (trailing)
17.9×
EV / EBITDA
9.9×
Free-cash-flow yield
12.6%
Dividend yield
0.6%
Revenue (last 12 months)
$15.7B
Revenue growth (3y a year)
8.1%
Operating margin
16.0%
Return on invested capital
–
Net debt / EBITDA
-0.5×
Fair value
Blended fair value$530.52 range $472 – $589
Versus priceUndervalued+84% to fair value
Peer multiples
$366.04
10-year DCF (market-scaled)
$695.00
Earnings power value (floor, not blended)
$116.94
Model uncertainty
Medium
X-Ray Score
64/ 100 · Medium confidence · ahead of 91% of sector peers
Valuation83
Growth67
Profitability64
Financial health52
Dividends38
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Expedia Group operates online travel brands including Expedia, Hotels.com and Vrbo, along with a business-to-business platform that supplies travel booking technology to partners. Travelers use these sites to book lodging, flights, car rentals and activities. The company earns revenue mainly from commissions and fees on bookings, from advertising on its platforms, and from fees paid by corporate and travel-agency partners that use its services.
Sales reached $15.7 billion in the last twelve months, having grown 8.1% a year over the past three years. Operating profit equals 16.0% of revenue. Net debt to EBITDA is -0.5 times, which means the company holds more cash than debt. It pays a dividend, and the yield is 0.6%.
StocksXray gives Expedia Group, Inc. an X-Ray Score of 64 out of 100 (medium confidence), ahead of 91% of the S&P 500 stocks in its sector. Its strongest lens is valuation (83) and its weakest is dividends (38).
Our fair value blend is $530.52 (range $471.72 to $588.98). At $288.95 the stock trades 46% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Expedia Group, Inc. (EXPE)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$178.25
$86.40
$149.71
$183.78
$281.69
$288.95
Market cap
$26.7B
$14.0B
$22.5B
$25.3B
$37.2B
$35.4B
P/E
–
39.8×
28.2×
20.5×
28.7×
17.9×
EV / revenue
3.6×
1.4×
1.9×
2.0×
2.6×
2.1×
EV / EBITDA
30.8×
8.6×
13.3×
12.6×
13.6×
9.9×
Price / free cash flow
8.7×
5.0×
12.2×
10.9×
12.0×
7.9×
Free-cash-flow yield
11.5%
19.9%
8.2%
9.2%
8.4%
12.6%
Price / book
13.0×
6.1×
14.7×
16.3×
28.9×
29.3×
Dividend yield
–
–
–
–
0.57%
0.64%
Fundamentals checklist ● 8 Good · ● 2 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−10.9%Good
Free-cash-flow yield12.6%Good
Risk models
Altman Z score0.0×Bad
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)65.3%Good
Free-cash-flow growth (3y)3.8%Bad
Revenue growth (3y)8.1%Average
Growth consistency100%Good
Balance sheet
Current ratio0.8×Bad
Net debt / EBITDA-0.5×Good
Interest cover7.1×Bad
Valuation
Fair value vs price1.8×Good
EBIT / EV yield7.4%Good
Profitability
Operating margin16.0%Average
XStocksXray
Expedia Group, Inc. (EXPE)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
8,598
11,667
12,839
13,691
14,733
15,700
Gross profit
–
–
–
–
–
–
Operating income
186
1,085
1,033
1,319
1,871
2,507
Net income
15
343
688
1,224
1,301
2,043
Diluted EPS ($)
-1.80
2.17
5.31
8.95
9.81
16.11
Free cash flow
3,075
2,778
1,844
2,329
3,110
4,459
Gross margin
–
–
–
–
–
–
Operating margin
2.2%
9.3%
8.0%
9.6%
12.7%
16.0%
Net margin
0.2%
2.9%
5.4%
8.9%
8.8%
13.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
21,548
21,561
21,642
22,388
24,452
29,061
Cash
4,111
4,096
4,225
4,183
5,413
6,682
Total debt
8,450
6,240
6,253
6,266
6,161
5,459
Equity
2,057
2,283
1,534
1,557
1,284
1,209
Dividend per share ($)
–
–
–
–
1.60
1.76
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.