EXPEDIA GROUP, INC.

EXPE · Industrials · $31.3B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power100

Median gross margin 82.3% over 4y, very stable.

Returns on capital52

Median ROIC 11.4%, above the 9% hurdle in 70% of years.

Balance-sheet safety62

Net debt/EBITDA 0.3x, interest coverage 6x.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

118% above value

Owner earnings (normalized): $797.0M
Est. intrinsic value / share: $122.64
Recent price: $267.65
Discount to value: 118% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell EXPE. See the disclaimer.