Expedia Group Inc. R

E3X1.DE

Travel Services · Consumer Cyclical

Price

€233.15

+1.80 (+0.78%)

Market Cap

€27.98B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−11.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 149.7M (2021) → 131.9M (2025)

Expedia Group runs a collection of online travel websites that help people book flights, hotels, rental cars, and vacation packages. Its main brands include Expedia, Hotels.com, Vrbo, and Orbitz, and it serves everyday travelers as well as small businesses looking to manage travel costs. The company competes in the online travel agency industry alongside Booking Holdings and Google, which has expanded its own travel search tools.

Expedia makes most of its money by charging hotels and airlines a commission or fee each time a traveler books through one of its platforms. It operates globally but generates the majority of its revenue in North America, and its large portfolio of brands gives it broad reach across different types of travelers. The biggest risk the company faces is competition from direct booking channels, as airlines and hotel chains increasingly push customers to book on their own websites to avoid paying third-party fees.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-28.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$1.3B/ year

→ Flat (-3% vs prior year)

8.7% of revenue

2.2x the sector average (4%)

Steady R&D investment year-over-year

Insider Activity

5.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$7.0B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Expedia Group Inc. R is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

84.0%

Premium pricing power — 84.0% gross margin

Operating Margin

12.7%

Healthy — 12.7% operating margin

ROCE

5.8%

Weak — 5.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+7.6%

Steady sales growth (7.6% YoY)

EPS YoY

+10.4%

Earnings growing (10.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

300%

Turns 300% of profit into real cash

FCF Margin

19.7%

Converts sales into free cash efficiently (19.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

5.04

Heavy debt load (5.04)

Interest Cover

6.36x

Adequate interest coverage (6.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

22.2x

Growth-priced — P/E 22.2

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+15.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (22.2 → 7.1)

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Dividends

Dividend Yield

0.73%

Small dividend — 0.73% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+8.0%

Dividend growing modestly (8.0% YoY)

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