Expedia (EXPE) Gross Margin (2009 - 2026)
Expedia (EXPE) posted quarterly Gross Margin of 89.0% for Q1 2026, up 94.0% year-over-year from 45.87% in Q1 2025, and down 1.38% quarter-over-quarter from 90.25% in Q4 2025.
Expedia (EXPE) Gross Margin (2009 - 2026) Analysis & Trends
Expedia (EXPE) has reported Gross Margin for 18 consecutive years, with 89.0% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 94.0% year-over-year to 89.0%; the TTM figure through Mar 2026 stood at 90.27% (up 73.0% YoY), while the FY2025 annual figure was 90.12%, up 66.0% from the prior year.
- Gross Margin eased to 89.0% in Q1 2026 per EXPE's latest filing, from 90.25% in the prior quarter.
- Across five years, Gross Margin topped out at 91.48% in Q3 2025 and bottomed at 83.5% in Q1 2022.
- Historically, Gross Margin has averaged 88.13% across 5 years, with a median of 88.22% in 2023.
- Annual changes were most pronounced in 2022 — Gross Margin jumped 846 bps — and 2025, when it advanced 22 bps.
- Expedia's Gross Margin stood at 84.26% in 2022, then grew by 5 bps to 88.22% in 2023, then climbed by 1 bps to 89.48% in 2024, then grew by 1 bps to 90.25% in 2025, then declined by 1 bps to 89.0% in 2026.
- Business Quant data shows EXPE's Gross Margin at 89.0% in Q1 2026, 90.25% in Q4 2025, and 91.48% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 158.84 Bn | 141.63 Bn | 4.98 Bn | 67.75% |
| 2 | Airbnb | 106.75 Bn | 94.68 Bn | 2.98 Bn | 82.46% |
| 3 | Royal Caribbean Cruises | 81.28 Bn | 80.36 Bn | 2.29 Bn | 47.29% |
| 4 | Viking Holdings | 44.69 Bn | 40.89 Bn | 713.43 Mn | 41.37% |
| 5 | Expedia | 39.05 Bn | 31.92 Bn | 3.91 Bn | 90.66% |
| 6 | Carnival | 38.37 Bn | 36.13 Bn | - | - |
| 7 | Trip.com | 29.13 Bn | 17.43 Bn | 1.86 Bn | 79.12% |
| 8 | Norwegian Cruise Line Holdings | 8.47 Bn | 8.25 Bn | 1.05 Bn | 39.91% |
| 9 | MakeMyTrip | 5.83 Bn | 5.05 Bn | 212.91 Mn | 74.55% |
| 10 | Global Business Travel | 4.86 Bn | 4.34 Bn | 514.00 Mn | 59.08% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 90.66% |
| Mar 31, 2026 | 89.00% |
| Dec 31, 2025 | 90.25% |
| Sep 30, 2025 | 91.48% |
| Jun 30, 2025 | 90.04% |
| Mar 31, 2025 | 88.05% |
| Dec 31, 2024 | 89.48% |
| Sep 30, 2024 | 90.44% |
| Jun 30, 2024 | 89.83% |
| Mar 31, 2024 | 87.61% |
| Dec 31, 2023 | 88.22% |
| Sep 30, 2023 | 89.51% |
| Jun 30, 2023 | 87.88% |
| Mar 31, 2023 | 84.47% |
| Dec 31, 2022 | 84.26% |
| Sep 30, 2022 | 87.43% |
| Jun 30, 2022 | 86.83% |
| Mar 31, 2022 | 83.50% |
| Dec 31, 2021 | 82.67% |
| Sep 30, 2021 | 85.08% |