Expedia (EXPE) Gross Margin (2009 - 2026)
Expedia (EXPE) reported Gross Margin of 89.0% for Q1 2026, up 94.0% year-over-year from 45.87% in Q1 2025, and up 217.26% quarter-over-quarter from 75.9% in Q4 2025.
Expedia (EXPE) Gross Margin (2009 - 2026) Analysis & Trends
Expedia (EXPE) has 18 years of Gross Margin data on file, last reported at 89.0% in Q1 2026.
- Gross Margin for Q1 2026 came in at 89.0%, up 94.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 41.26% (down 2727.0% YoY), and the FY2025 annual result was 50.12%, down 3934.0% from the prior year.
- Gross Margin climbed to 89.0% in Q1 2026 per EXPE's latest filing, from 75.9% in the prior quarter.
- Over five years, Gross Margin peaked at 209.59% in Q4 2023 and troughed at 75.9% in Q4 2025.
- A 5-year average of 71.53% and a median of 83.5% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2023 and 2025: Gross Margin jumped 13649 bps in 2023, then plunged 16537 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 73.11% in 2022, then jumped by 187 bps to 209.59% in 2023, then tumbled by 57 bps to 89.48% in 2024, then plunged by 185 bps to 75.9% in 2025, then jumped by 217 bps to 89.0% in 2026.
- Business Quant data shows EXPE's Gross Margin at 89.0% in Q1 2026, 75.9% 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 | 131.01 Bn | 114.99 Bn | 3.46 Bn | 62.62% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 78.30% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 49.53% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | - |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 89.00% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 40.89% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 85.00% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 96.36% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 78.84% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 89.00% |
| Dec 31, 2025 | -75.90% |
| Sep 30, 2025 | 91.48% |
| Jun 30, 2025 | 49.29% |
| Mar 31, 2025 | 88.05% |
| Dec 31, 2024 | 89.48% |
| Sep 30, 2024 | 54.31% |
| Jun 30, 2024 | 49.61% |
| Mar 31, 2024 | 87.61% |
| Dec 31, 2023 | 209.59% |
| Sep 30, 2023 | 89.51% |
| Jun 30, 2023 | 52.98% |
| Mar 31, 2023 | 84.47% |
| Dec 31, 2022 | 73.11% |
| Sep 30, 2022 | 53.88% |
| Jun 30, 2022 | 46.05% |
| Mar 31, 2022 | 83.50% |
| Dec 31, 2021 | 85.87% |
| Sep 30, 2021 | 55.64% |
| Jun 30, 2021 | 82.28% |