Expedia Group (EXPE) FY2018 results: revenue $11.2 billion, up 11.6% on the year
Expedia Group, Inc. (EXPE) reported revenue of $11.2 billion for fiscal 2018, the year ended 31 December 2018, up 11.6% on the year before. Net income was $406 million, up 7.4%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$11.2 billion
+11.6% on the year
FY2011FY2018
Operating margin
6.4%
6.2% a year earlier
FY2011FY2018
Net income
$406 million
+7.4% on the year
FY2011FY2018
Diluted EPS
$2.65
+9.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
11,223
10,060
8,774
+11.6%
Cost of revenue
1,965
1,757
1,597
+11.9%
Gross profit
9,258
8,303
7,177
+11.5%
Gross margin
82.5%
82.5%
81.8%
Operating income
714
625
462
+14.2%
Operating margin
6.4%
6.2%
5.3%
Interest expense
190
182
173
+4.6%
Pre-tax income
485
417
277
+16.4%
Income tax
87.0
45.0
16.0
+93.3%
Effective tax rate
17.9%
10.8%
5.8%
Net income
406
378
282
+7.4%
Net margin
3.6%
3.8%
3.2%
Diluted EPS
$2.65
$2.42
$1.82
+9.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,975
1,845
1,549
+7.0%
Capital expenditure
878
710
749
+23.6%
Free cash flow
1,097
1,135
800
-3.3%
Free cash flow margin
9.8%
11.3%
9.1%
Cash from investing
-559
-1,582
-718
Cash from financing
-1,489
688
-691
Depreciation and amortisation
959
890
794
+7.8%
Share-based compensation
203
149
242
+36.2%
Buybacks
923
312
456
+195.7%
Dividends paid
186
176
150
+5.8%
Dividend per share
$1.24
$1.16
$1.00
+6.9%
Diluted shares, weighted
153m
156m
155m
-2.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,104
4,522
4,132
-9.3%
Non-controlling interest
1,547
1,606
1,561
-3.7%
Redeemable equity
30.0
22.0
0.0
+36.4%
Debt
3,717
4,249
3,159
-12.5%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
8,635
8,116
6,925
+6.4%
Total liabilities and equity
18,033
18,516
15,778
-2.6%
Fixed assets
1,877
1,575
1,395
+19.2%
Goodwill
8,120
8,229
7,942
-1.3%
Intangible assets
1,992
2,309
2,447
-13.7%
Investments
28.0
469
88.3
-94.0%
Cash and equivalents
2,443
2,847
1,797
-14.2%
Receivables
2,151
1,866
1,343
+15.3%
Other assets
1,422
1,222
766
+16.4%
Total assets
18,033
18,516
15,778
-2.6%
10-K for the year ended 31 December 2018, filed 14 February 2020: the filing.