Expedia Group, Inc.
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Expedia Group, Inc.
Compare market positioning with top industry peers
Explore Expedia
Core profile pages, founders and related research hubs for this company.
Financial Performance
Revenue
$14.7B
Market Cap
$18.4B
Net Income
$1.3B
Employees
16,500
Expedia reported $14.7B in revenue for fiscal year 2025, up 7.6% from 2024. Net income was $1.3B.
Expedia's financial narrative is a story of large, highly cyclical revenue heavily dependent on global macroeconomic stability. They generate over $12 billion in revenue, but their profitability is constantly under pressure due to highly high 'Customer Acquisition Costs' (CAC). Expedia spends billions of dollars every single year on Google Ads just to get people to click on their website instead of a competitor's. Their core financial strategy is attempting to break this expensive addiction to Google by heavily pushing a unified loyalty program ('One Key') to encourage direct, repeat bookings.
Revenue Trend Analysis
YoY Change
+7.6%
9-Year CAGR
+5.9%
Peak Year
2025
Trend
Consistent Growth
Expedia Group, Inc. has reported revenue across 10 fiscal years, compounding at +5.9% annually over 9 years. The most recent year saw a 7.6% increase versus the prior year. Revenue peaked in 2025 at $14.7B. Out of 9 reported periods, 8 showed growth and 1 showed a decline.
Click any row to see year details.
Expedia Group generates over $100 billion in annual Gross Bookings, translating into consolidated annual revenues of approximately $12 billion to $13 billion, driven by sustained global leisure and business travel demand.
Expedia Group generates Adjusted EBITDA between $2.5 billion and $3.0 billion annually, achieving Adjusted EBITDA margins of 20% to 23%, supported by technology platform consolidation and improved performance marketing efficiency.
Expedia spends approximately $6 billion to $7 billion annually on sales and marketing (representing over 50% of revenue), primarily allocated to digital performance marketing (Google search ads, metasearch engines, social media) and brand advertising campaigns.
The United States is Expedia Group's largest market, accounting for approximately 65% to 70% of total revenue. International markets, encompassing Europe, Asia-Pacific, Latin America, and Canada, contribute the remaining 30% to 35%.
Expedia benefits from negative working capital dynamics in its Merchant business: travelers pay Expedia at the time of booking, while Expedia pays hotel suppliers weeks or months later after guest check-out, generating significant operational float and strong annual free cash flow exceeding $1.5 billion.
Expedia's Board of Directors authorizes substantial multi-billion-dollar share repurchase programs. The company routinely repurchases hundreds of millions of dollars of its common stock annually, supported by strong free cash flow and balance sheet liquidity.
Expedia maintains an investment-grade balance sheet with several billion dollars in cash and committed revolving credit facilities, offset by senior unsecured notes, maintaining a target gross leverage ratio between 2.0x and 2.5x Adjusted EBITDA.
Expedia experiences its highest booking volumes and working capital inflows during Q1 and Q2 as travelers plan summer vacations, while peak revenue recognition and supplier cash disbursements occur in Q3 when travelers complete their summer stays.
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CorpDigest. "Expedia Group, Inc. Revenue & Financials." CorpDigest, https://corpdigest.com/company/expedia/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Expedia Group, Inc. reported $14.7B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/expedia/financials" target="_blank" rel="noopener">CorpDigest — Expedia Group, Inc. financials</a></div>