Expedia (EXPE) Operating Margin (2009 - 2026)
Expedia (EXPE) posted quarterly Operating Margin of 7.33% for Q1 2026, up 967.0% year-over-year from 0.69% in Q1 2025, and down 38.13% quarter-over-quarter from 11.84% in Q4 2025.
Expedia (EXPE) Operating Margin (2009 - 2026) Analysis & Trends
Expedia (EXPE) has reported Operating Margin for 18 consecutive years, with 7.33% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin rose 967.0% year-over-year to 7.33%; the TTM figure through Mar 2026 stood at 14.45% (up 459.0% YoY), while the FY2025 annual figure was 12.7%, up 307.0% from the prior year.
- Operating Margin retreated to 7.33% in Q1 2026 per EXPE's latest filing, from 11.84% in the prior quarter.
- Across five years, Operating Margin topped out at 23.48% in Q3 2025 and bottomed at 6.0% in Q1 2022.
- Historically, Operating Margin has averaged 8.57% across 5 years, with a median of 10.85% in 2022.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 2361 bps — and 2023, when it sank 519 bps.
- Expedia's Operating Margin stood at 4.89% in 2022, then slipped by 26 bps to 3.6% in 2023, then soared by 88 bps to 6.78% in 2024, then surged by 75 bps to 11.84% in 2025, then slumped by 38 bps to 7.33% in 2026.
- Business Quant data shows EXPE's Operating Margin at 7.33% in Q1 2026, 11.84% in Q4 2025, and 23.48% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 34.00% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 21.01% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 27.05% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 20.91% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 12.77% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 18.54% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 24.34% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 13.76% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 15.30% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 2.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 18.54% |
| Mar 31, 2026 | 7.33% |
| Dec 31, 2025 | 11.84% |
| Sep 30, 2025 | 23.48% |
| Jun 30, 2025 | 12.81% |
| Mar 31, 2025 | -2.34% |
| Dec 31, 2024 | 6.78% |
| Sep 30, 2024 | 18.77% |
| Jun 30, 2024 | 12.68% |
| Mar 31, 2024 | -3.81% |
| Dec 31, 2023 | 3.60% |
| Sep 30, 2023 | 15.45% |
| Jun 30, 2023 | 13.19% |
| Mar 31, 2023 | -4.54% |
| Dec 31, 2022 | 4.89% |
| Sep 30, 2022 | 20.64% |
| Jun 30, 2022 | 10.85% |
| Mar 31, 2022 | -6.00% |
| Dec 31, 2021 | 7.15% |
| Sep 30, 2021 | 17.69% |