Booking vs Expedia Group
Booking reported revenue of $26.9 billion in fiscal 2025, 1.8 times Expedia Group's $14.7 billion in fiscal 2025. Booking's revenue grew 13.4% in its latest year, and Expedia Group's grew 7.6%. Booking had an operating margin of 32.8%, against 12.7% at Expedia Group. Free cash flow was $9.1 billion at Booking and $3.1 billion at Expedia Group.
Side by side
| Booking | Expedia Group | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $26.9B | $14.7B |
| Revenue growth | 13.4% | 7.6% |
| Revenue growth a year, last 5 years | 31.7% | 23.2% |
| Gross margin | — | — |
| Operating margin | 32.8% | 12.7% |
| Net margin | 20.1% | 8.8% |
| Free cash flow | $9.1B | $3.1B |
| Free cash flow margin | 33.8% | 21.1% |
| Return on capital | — | 40.5% |
| Net debt to EBITDA | 0.2x | 0.2x |
| Dividends and buybacks | $7.7B | $2.1B |
| Change in diluted share count | −4.2% | −4.3% |
| Last close | $153.14 | $283.97 |
| P/E at the last close | 23.1× | 17.7× |
| Insider trades, last 12 months | sold $55.8 million | sold $8.5 million |
| Piotroski F-score | 5 of 8 | 8 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
BookingExpedia Group
Operating margin
Percent of revenue
BookingExpedia Group
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BookingExpedia Group
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Booking and Expedia Group pages.