How does Expedia Group (EXPE) make money?

Expedia Group (EXPE) generates revenue primarily from Lodging, which accounted for 96.7% of total revenue in TTM through Q1 2026. The company reported $15.17B in revenue and converted 9.8% of it into net profit, equivalent to roughly $1.49B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Expedia Group (EXPE)?

Expedia Group (EXPE) reported a gross profit margin of 90.3% in TTM through Q1 2026, equivalent to $13.70B in gross profit on $15.17B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Expedia Group (EXPE)?

Expedia Group (EXPE) reported an operating profit margin of 16.1% in TTM through Q1 2026, equivalent to $2.45B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Expedia Group (EXPE)?

Expedia Group (EXPE) reported a net profit margin of 9.8% in TTM through Q1 2026, equivalent to $1.49B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Expedia Group (EXPE) profitable?

Yes. Expedia Group (EXPE) reported $1.49B in net income for TTM through Q1 2026, with a net profit margin of 9.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Expedia Group (EXPE) invest in research and development?

Expedia Group (EXPE) invested $1.28B in research and development during TTM through Q1 2026, roughly 8.4% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Expedia Group (EXPE) spend on capital expenditures?

Expedia Group (EXPE) spent $173.00M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 1.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Expedia Group (EXPE) generate?

Expedia Group (EXPE) generated $4.69B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 30.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Expedia Group (EXPE)?

Expedia Group (EXPE) had an effective tax rate of 18.9% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Expedia Group (EXPE)?

Expedia Group (EXPE) reports revenue across 2 reportable product segments, led by Lodging at 96.7% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Expedia Group Makes Money: 2026 Visual Revenue Map

Expedia Group (EXPE) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 8, 2026).

Expedia Group discloses geographic revenue only in annual filings. to view the full breakdown.

Expedia Group (EXPE) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Expedia Group (EXPE) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Lodging	$14.68B	96.7%
Air	$494.76M	3.3%
Total	$15.17B	100%

Lodging$14.68B
Air$494.76M
Total$15.17B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Expedia Group (EXPE) reports revenue across 2 operating segments; the largest segment was Lodging at 96.7%, followed by Air (3.3%).

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