Expedia Group (EXPE) 10-K Summary — Year Ended Dec 31, 2023
Expedia Group reported higher revenue for the latest annual period, supported by growth in travel demand. Operating cash flow increased, and the company maintained a significant cash and credit facility position.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Expedia Group reported higher revenue for the latest annual period, supported by growth in travel demand. Operating cash flow increased, and the company maintained a significant cash and credit facility position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$12.8B
Revenue reported for the fiscal year.
Operating income
$1B
Income from operations reported for the year.
Net income
$797M
Net income reported for the year.
Operating cash flow
$2.7B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $8.6B | n/a |
| Dec 31, 2022 | $11.7B | +35.7% |
| Dec 31, 2023 | $12.8B | +10.0% |
Business overview
Expedia Group operates an online travel platform, offering lodging, air, and other travel products to consumers and partners. The company manages a portfolio of brands that facilitate travel bookings and related services.
Financial performance
Revenue grew compared to the prior year, while operating income and net income were reported at positive levels. Operating cash flow was robust, reflecting improved operational efficiency.
Material risks
The filing identifies risks from changes in travel demand, competitive pressures, and potential adverse effects on credit ratings. Downgrades in credit ratings could increase borrowing costs and limit access to capital markets.
Liquidity and capital
The company’s primary liquidity sources include cash from operations, a largely undrawn revolving credit facility, and cash balances. Foreign cash holdings represent a portion of total liquidity, and the company does not permanently reinvest foreign earnings.
What to watch
Investors should monitor any changes in the company’s credit ratings, as shifts could affect borrowing costs and capital access.