Expedia Group (EXPE) Financial Forecast Calculator
Interactive 5-year forecast and DCF for Expedia Group. Adjust revenue growth, gross margin, capex intensity, WACC, and terminal growth - see revenue, free cash flow, and enterprise value update in real time. Seeded from Expedia Group’s most recent SEC filings.
Assumptions
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Frequently asked
What does Expedia Group do?+
Expedia Group is a leading global online travel agency (OTA) that provides travel products and services to leisure and corporate travellers. The company operates a comprehensive platform offering lodging, flights, rental cars, and activities through a portfolio of brands including Expedia, Hotels.com, and Vrbo.
How does Expedia Group generate revenue?+
Expedia Group generates revenue primarily through a Merchant model, where it acts as the merchant of record, and an Agency model, which is commission-based. Advertising also contributes to its revenue streams, supporting its asset-light business model.
What is Expedia Group's capital expenditure strategy?+
Expedia Group's capital expenditure is primarily growth-oriented, specifically for capitalised software development aimed at platform unification and AI/machine learning capabilities. Capex intensity is expected to remain stable or slightly decline as a percentage of revenue, following the completion of its multi-year tech stack migration.
What is the significance of Expedia Group's negative working capital in its financial model?+
Expedia Group benefits from structural negative working capital, a key advantage under its Merchant model. This allows the company to collect cash from travellers at the time of booking but defer payment to hotels until the stay occurs, creating a significant 'Deferred Merchant Bookings' liability that funds growth.
What is the purpose of the downloadable Excel financial model for Expedia Group?+
The downloadable Excel model for Expedia Group provides a comprehensive equity valuation and scenario planning tool. It enables analysts to forecast free cash flow generation by isolating the high-growth B2B segment from the mature B2C segment and quantifying the cash flow advantages of its negative working capital merchant model.
What are the main business segments of Expedia Group?+
Expedia Group's business is divided into three primary segments: B2C (Retail), which accounts for approximately 65% of revenue, and B2B, which accounts for roughly 30%. The remaining revenue is contributed by its metasearch brand, trivago.
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