Expedia Stock vs Competition: Who Wins?
Expedia‘s stock has notably outperformed its travel peers over the past year, as of February 18, 2026. A closer look reveals solid profitability with decent operating and free cash flow margins, and moderate revenue growth. Its valuation appears appealing with a lower PE ratio compared to Booking Holdings and Airbnb. However, the upside could be constrained by the higher margins and faster growth of these larger rivals, coupled with cautious margin outlooks and increasing AI investment and competition in the sector.
- EXPE’s 14.7% operating margin, strong vs. peers but below BKNG’s 34.5%, reflects BKNG’s agency model and European focus.
- EXPE’s 7.6% LTM revenue growth, moderate vs. peers, lags BKNG/ABNB due to rivals’ stronger market demand capture and digital innovation.
- EXPE’s 0.6% gain, outperforming peers, reflects investor confidence in its B2B strategy; its 19.3 PE suggests good value compared to peers.
Here’s how Expedia stacks up across size, valuation, and profitability versus key peers.
| EXPE | BKNG | ABNB | TRIP | SABR | GBTG | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 25.0 | 138.3 | 75.1 | 1.2 | 0.5 | 2.6 |
| Revenue ($ Bil) | 14.7 | 26.0 | 12.2 | 1.9 | 3.1 | 2.5 |
| PE Ratio | 19.3 | 27.4 | 29.9 | 31.1 | 0.8 | 264.3 |
| 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 | 0.6% | -16.3% | -22.6% | -40.7% | -66.8% | -39.1% |
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 | 19.3 | 27.4 | 19.8 | 27.6 | |
| BKNG | 27.4 | – | 30.6 | 41.9 | 46.3 |
| ABNB | 29.9 | 33.1 | 31.4 | 18.1 | |
| TRIP | 31.1 | 45.5 | 410.6 | 299.3 | |
| SABR | 0.8 | – | -1.9 | -2.4 | -3.3 |
| GBTG | 264.3 | – | -25.6 | -37.1 | -13.2 |
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