Expedia Group (EXPE) FY2020 results: revenue $5.2 billion, down 56.9% on the year
Expedia Group, Inc. (EXPE) reported revenue of $5.2 billion for fiscal 2020, the year ended 31 December 2020, down 56.9% on the year before. Net income was -$2.6 billion, and diluted earnings per share $-19.00. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$5.2 billion
-56.9% on the year
FY2013FY2020
Operating margin
-52.3%
7.5% a year earlier
FY2013FY2020
Net income
-$2.6 billion
FY2013FY2020
Diluted EPS
-$19.00
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,199
12,067
11,223
-56.9%
Cost of revenue
1,649
2,163
1,965
-23.8%
Gross profit
3,550
9,904
9,258
-64.2%
Gross margin
68.3%
82.1%
82.5%
Operating income
-2,719
903
714
Operating margin
-52.3%
7.5%
6.4%
Interest expense
360
173
190
+108.1%
Pre-tax income
-3,151
775
485
Income tax
-423
203
87.0
Effective tax rate
n/a
26.2%
17.9%
Net income
-2,612
565
406
Net margin
-50.2%
4.7%
3.6%
Diluted EPS
-$19.00
$3.77
$2.65
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-3,834
2,767
1,975
Capital expenditure
797
1,160
878
-31.3%
Free cash flow
-4,631
1,607
1,097
Free cash flow margin
-89.1%
13.3%
9.8%
Cash from investing
-263
-1,553
-559
Cash from financing
4,077
175
-1,489
+2,229.7%
Depreciation and amortisation
893
910
959
-1.9%
Share-based compensation
205
241
203
-14.9%
Buybacks
425
743
923
-42.8%
Dividends paid
48.0
195
186
-75.4%
Dividend per share
$0.34
$1.32
$1.24
-74.2%
Diluted shares, weighted
141m
150m
153m
-5.7%
Shares outstanding at period end
138m
n/a
n/a
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,510
3,967
4,104
-61.9%
Non-controlling interest
1,494
1,569
1,547
-4.8%
Redeemable equity
13.0
15.0
30.0
-13.3%
Debt
8,216
4,938
3,717
+66.4%
Operating lease liabilities
513
532
0.0
-3.6%
Other liabilities
6,944
10,395
8,635
-33.2%
Total liabilities and equity
18,690
21,416
18,033
-12.7%
Fixed assets
2,257
2,198
1,877
+2.7%
Goodwill
7,380
8,127
8,120
-9.2%
Intangible assets
1,515
1,804
1,992
-16.0%
Investments
24.0
526
28.0
-95.4%
Cash and equivalents
3,363
3,315
2,443
+1.4%
Receivables
701
2,524
2,151
-72.2%
Other assets
3,450
2,922
1,422
+18.1%
Total assets
18,690
21,416
18,033
-12.7%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.