Expedia Group (EXPE) FY2019 results: revenue $12.1 billion, up 7.5% on the year
Expedia Group, Inc. (EXPE) reported revenue of $12.1 billion for fiscal 2019, the year ended 31 December 2019, up 7.5% on the year before. Net income was $565 million, up 39.2%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$12.1 billion
+7.5% on the year
FY2012FY2019
Operating margin
7.5%
6.4% a year earlier
FY2012FY2019
Net income
$565 million
+39.2% on the year
FY2012FY2019
Diluted EPS
$3.77
+42.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
12,067
11,223
10,060
+7.5%
Cost of revenue
2,163
1,965
1,757
+10.1%
Gross profit
9,904
9,258
8,303
+7.0%
Gross margin
82.1%
82.5%
82.5%
Operating income
903
714
625
+26.5%
Operating margin
7.5%
6.4%
6.2%
Interest expense
173
190
182
-8.9%
Pre-tax income
775
485
417
+59.8%
Income tax
203
87.0
45.0
+133.3%
Effective tax rate
26.2%
17.9%
10.8%
Net income
565
406
378
+39.2%
Net margin
4.7%
3.6%
3.8%
Diluted EPS
$3.77
$2.65
$2.42
+42.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,767
1,975
1,845
+40.1%
Capital expenditure
1,160
878
710
+32.1%
Free cash flow
1,607
1,097
1,135
+46.5%
Free cash flow margin
13.3%
9.8%
11.3%
Cash from investing
-1,553
-559
-1,582
Cash from financing
175
-1,489
688
Depreciation and amortisation
910
959
890
-5.1%
Share-based compensation
241
203
149
+18.7%
Buybacks
743
923
312
-19.5%
Dividends paid
195
186
176
+4.8%
Dividend per share
$1.32
$1.24
$1.16
+6.5%
Diluted shares, weighted
150m
153m
156m
-2.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,967
4,104
4,522
-3.3%
Non-controlling interest
1,569
1,547
1,606
+1.4%
Redeemable equity
15.0
30.0
22.0
-50.0%
Debt
4,938
3,717
4,249
+32.8%
Operating lease liabilities
532
0.0
n/a
Other liabilities
10,395
8,635
8,116
+20.4%
Total liabilities and equity
21,416
18,033
18,516
+18.8%
Fixed assets
2,198
1,877
1,575
+17.1%
Goodwill
8,127
8,120
8,229
+0.1%
Intangible assets
1,804
1,992
2,309
-9.4%
Investments
526
28.0
469
+1,778.6%
Cash and equivalents
3,315
2,443
2,847
+35.7%
Receivables
2,524
2,151
1,866
+17.3%
Other assets
2,922
1,422
1,222
+105.5%
Total assets
21,416
18,033
18,516
+18.8%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.