Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
Fiscal 2025 results for Expedia Group, Inc. combined $14.73B of revenue with net income of $1.29B and an operating cash inflow of $3.88B. The $14.73B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 7.6% above fiscal 2024 revenue of $13.69B, marking a year-over-year increase. The company reported diluted EPS of $9.81, adding a shareholder-level measure to the absolute income figures considered below. The per-share result recorded a 9.6% increase from fiscal 2024 diluted EPS of $8.95. Revenue equaled 0.6x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.Profitability
Gross profit was $13.28B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 90.1%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $1.87B of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 12.7% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $1.29B for the fiscal year. Net margin was 8.8%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $1.59B of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 10.8% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $290.00M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 18.2%, quantifying the portion of pre-tax earnings paid in income tax.Liquidity and Capital Structure
Total assets were $24.45B, supported by $21.91B of liabilities and $2.55B of shareholder equity. Current assets were $12.20B against $16.66B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.73x of current liabilities, so current liabilities exceeded current assets at period end. The company held $5.41B in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 32.5% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $6.16B, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 2.42x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 25.2% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 89.6%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 22.1%, comparing reported cash and equivalents with the full positive asset balance.Cash Flow and Earnings Quality
The company reported $3.88B of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 3.0x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $770.00M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 19.8%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $3.11B of positive free cash flow for the period. Free cash flow represented 21.1% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 12.7%, showing the cash productivity of the company’s assets.
Based on the annual report for the fiscal year ending Dec 31, 2025.
Analysis generated .