Expedia Stock vs Competition: Who Wins?
Expedia (EXPE) stock, despite recent declines, has shown relative resilience over the past year compared to most peers. But how does it truly stack up against higher-growth rivals like Booking and Airbnb in the evolving online travel sector, especially with AI-driven competition intensifying? A closer look reveals strong profitability, with solid operating and free cash flow margins, and a moderate valuation. However, its revenue growth trails some key competitors, suggesting limited upside amid cautious margin outlooks and increasing AI investment and competition in the sector.
- EXPE’s 14.7% operating margin is strong, yet trails BKNG’s 34.5% due to BKNG’s agency model and European hotel market focus.
- EXPE’s 7.6% revenue growth is moderate, outpacing TRIP/GBTG, but lags BKNG/ABNB/SABR, as rivals leverage strong market demand and digital innovation.
- EXPE’s 19.0 PE and 0.2% decline (vs. peers’ larger falls) reflect investor confidence in its B2B strategy and One Key loyalty program.
Here’s how Expedia stacks up across size, valuation, and profitability versus key peers.
| EXPE | BKNG | ABNB | TRIP | SABR | GBTG | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 24.6 | 134.1 | 75.0 | 1.3 | 0.4 | 2.7 |
| Revenue ($ Bil) | 14.7 | 26.0 | 12.2 | 1.9 | 3.1 | 2.5 |
| PE Ratio | 19.0 | 26.6 | 29.9 | 31.4 | 0.7 | 266.7 |
| LTM Revenue Growth | 7.6% | 13.0% | 10.3% | 3.1% | 8.8% | 5.7% |
| LTM Operating Margin | 14.7% | 34.5% | 20.8% | 6.5% | 12.1% | 7.1% |
| LTM FCF Margin | 21.1% | 31.9% | 38.0% | 8.6% | -8.5% | 4.9% |
| 12M Market Return | -0.2% | -17.3% | -23.0% | -40.8% | -73.6% | -38.7% |
For more details on Expedia, read Buy or Sell EXPE Stock. Below we compare EXPE’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| EXPE | 7.6% | 7.6% | 6.6% | 10.0% | |
| BKNG | 13.0% | – | 11.1% | 25.0% | 56.0% |
| ABNB | 10.3% | 10.3% | 11.9% | 18.1% | |
| TRIP | 3.1% | 3.1% | 2.6% | 19.8% | |
| SABR | 8.8% | – | 4.2% | 14.6% | 50.2% |
| GBTG | 5.7% | – | 5.8% | 23.7% | 142.6% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| EXPE | 14.7% | 14.7% | 12.2% | 11.9% | |
| BKNG | 34.5% | – | 31.8% | 27.3% | 29.9% |
| ABNB | 20.8% | 20.8% | 23.0% | 15.3% | |
| TRIP | 6.5% | 6.5% | 6.2% | 8.3% | |
| SABR | 12.1% | – | 9.4% | 1.6% | -10.3% |
| GBTG | 7.1% | – | 5.3% | 1.5% | -10.9% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| EXPE | 19.0 | 27.4 | 19.8 | 27.6 | |
| BKNG | 26.6 | – | 30.6 | 41.9 | 46.3 |
| ABNB | 29.9 | 33.1 | 31.4 | 18.1 | |
| TRIP | 31.4 | 45.5 | 410.6 | 299.3 | |
| SABR | 0.7 | – | -1.9 | -2.4 | -3.3 |
| GBTG | 266.7 | – | -25.6 | -37.1 | -13.2 |
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