Expedia was founded in 1996 and is headquartered in Bellevue, US

President & Chief Executive Officer

Vice Chairman

Chief Financial Officer & Executive Vice President Operations

Chairman & Senior Executive

Executive Vice President, General Counsel & Secretary

Expedia has offices in Bellevue, Manchester, London, Washington and in 59 other locations

Bellevue, US (HQ)

333 108th Avenue Ne

Expedia's revenue was reported to be $8.8 b in FY, 2016 which is a **31% increase** from the previous period.

USD

## Revenue (FY, 2016) | 8.8 b |

## Revenue growth (FY, 2015 - FY, 2016), % | 31% |

## Gross profit (FY, 2016) | 7.2 b |

## Gross profit margin (FY, 2016), % | 82% |

## Net income (FY, 2016) | 261.3 m |

## EBIT (FY, 2016) | 461.7 m |

## Market capitalization (19-Jul-2017) | 23.5 b |

## Closing share price (19-Jul-2017) | 153.6 |

## Cash (31-Dec-2016) | 1.8 b |

## EV | 24.8 b |

Expedia's current market capitalization is $23.5 b.

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 4.8 b | 5.8 b | 6.7 b | 8.8 b |

## Revenue growth, % | 21% | 16% | 31% | |

## Cost of goods sold | 1 b | 1.2 b | 1.3 b | 1.6 b |

## Gross profit | 3.7 b | 4.6 b | 5.4 b | 7.2 b |

## Gross profit Margin, % | 78% | 80% | 80% | 82% |

## Sales and marketing expense | 2.2 b | 2.8 b | 3.4 b | 4.4 b |

## R&D expense | 577.8 m | 686.2 m | 830.2 m | 1.2 b |

## General and administrative expense | 377.1 m | 425.4 m | 573.9 m | 678.3 m |

## Operating expense total | 3.2 b | 3.9 b | 4.8 b | 6.3 b |

## EBIT | 366.1 m | 517.8 m | 413.6 m | 461.7 m |

## EBIT margin, % | 8% | 9% | 6% | 5% |

## Interest expense | 87.4 m | 98.1 m | 126.2 m | 173.1 m |

## Interest income | 24.8 m | 27.3 m | 16.7 m | 19.7 m |

## Pre tax profit | 300.7 m | 464.6 m | 926 m | 276.6 m |

## Income tax expense | 84.3 m | 91.7 m | 203.2 m | 15.3 m |

## Net Income | 216.4 m | 373 m | 722.7 m | 261.3 m |

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 1 b | 1.4 b | 1.7 b | 1.8 b |

## Inventories | 101.5 m | 166.4 m | 161.2 m | 199.7 m |

## Current Assets | 2.2 b | 2.9 b | 3 b | 3.5 b |

## PP&E | 480.7 m | 553.1 m | 1.1 b | 1.4 b |

## Goodwill | 3.7 b | 4 b | 8 b | 7.9 b |

## Total Assets | 7.7 b | 9 b | 15.5 b | 15.8 b |

## Total Debt | 1.2 b | 1.7 b | 3.2 b | 3.2 b |

## Current Liabilities | 3.3 b | 4.2 b | 5.9 b | 6.1 b |

## Common Stock | 1 k | |||

## Additional Paid-in Capital | 5.8 b | 5.9 b | 8.7 b | 8.8 b |

## Retained Earnings | (209.2 m) | 28.3 m | 507.7 m | 129 m |

## Total Equity | 2.3 b | 1.9 b | 4.9 b | 5.7 b |

## Debt to Equity Ratio | 0.6 x | 0.9 x | 0.6 x | 0.6 x |

## Debt to Assets Ratio | 0.2 x | 0.2 x | 0.2 x | 0.2 x |

## Financial Leverage | 3.4 x | 4.8 x | 3.1 x | 2.8 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 216.4 m | 373 m | 722.7 m | 261.3 m |

## Accounts Receivable | (127.3 m) | (158 m) | (198.3 m) | (276.2 m) |

## Cash From Operating Activities | 763.2 m | 1.4 b | 1.4 b | 1.6 b |

## Cash From Investing Activities | (525.5 m) | (924.3 m) | (2.4 b) | (718.3 m) |

## Cash From Financing Activities | (492.5 m) | 48.1 m | 1.4 b | (690.6 m) |

## Interest Paid | 84.1 m | 87.6 m | 109.5 m | 153.8 m |

USD | Y, 2016 |
---|---|

## EV/EBIT | 53.8 x |

## EV/CFO | 15.9 x |

## Revenue/Employee | 437 k |

## Debt/Equity | 0.6 x |

## Debt/Assets | 0.2 x |

## Financial Leverage | 2.8 x |

Expedia's Properties was reported to be 350 k in FY, 2016, which is a 30% increase from the previous period

- Source: Expedia Annual Report 2015

Source: 946 public H-1B filings from Expedia