Expedia is generating a free-cash-flow yield of 12.7%, more than double the 4.6% return on U.S. government bonds, even as the stock trades 13% below its 52-week high around $265.63 a share. The company’s three-year average free-cash-flow yield stands at 11.4%, supported by a durable model that converts 27% of revenue into free cash flow with net debt to equity of -0.03. Revenue grew 10% over the past twelve months, accelerating from a 7.9% three-year average, driven in part by a 22% increase in gross bookings in its B2B segment, which recently became the exclusive hotel partner for Uber. Management noted a challenging macro environment in March that led to elevated traveler cancellations, but said cancellation rates stabilized in early April and booking activity reaccelerated, with second-quarter gross bookings growth expected at 7% to 9%. The next earnings report is scheduled for August 5, 2026.
Expedia Group Inc.Expedia's high free-cash-flow yield (12.7%) and strong cash conversion highlight financial strength, making it attractive vs bonds.
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