TripAdvisor (TRIP) FY2025 results: revenue $1.9 billion, up 3.1% on the year
TripAdvisor, Inc. (TRIP) reported revenue of $1.9 billion for fiscal 2025, the year ended 31 December 2025, up 3.1% on the year before. Net income was $40 million, up 700.0%, and diluted earnings per share $0.31. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2026.
Revenue
$1.9 billion
+3.1% on the year
FY2018FY2025
Operating margin
4.2%
5.0% a year earlier
FY2018FY2025
Net income
$40 million
+700.0% on the year
FY2018FY2025
Diluted EPS
$0.31
+675.0% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 1 new, 1 kept.
Revenue flat in Q4, up 3% for year: Fourth quarter revenue was $411 million, flat year-over-year; full-year revenue was $1,891 million, up 3%.
Adjusted EBITDA fell in fourth quarter: Adjusted EBITDA was $45 million, 11.0% of revenue, in Q4 against $73 million a year earlier; full-year $319 million, 16.9% of revenue.
Experiences revenue up 10%: Experiences revenue rose 10% to $204 million in Q4, about 7% excluding currency; full-year revenue was $924 million, up 10%.
Hotels and Other revenue down 15%: Hotels and Other revenue fell 15% to $151 million in Q4 and 8% to $750 million for the year.
Hotels and Other EBITDA fell 32%: Hotels and Other adjusted EBITDA was $29 million, 19.6% of revenue, in Q4 against $44 million, 24.4%; full-year $207 million, 27.6%.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
245
144
235
+70.1%
Capital expenditure
82.0
74.0
63.0
+10.8%
Free cash flow
163
70.0
172
+132.9%
Free cash flow margin
8.6%
3.8%
9.6%
Cash from investing
-84.0
-73.0
-63.0
Cash from financing
-197
-63.0
-127
Depreciation and amortisation
92.0
85.0
87.0
+8.2%
Share-based compensation
108
120
96.0
-10.0%
Buybacks
90.0
25.0
100
+260.0%
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
131m
145m
145m
-9.7%
Shares outstanding at period end
114m
127m
125m
-10.1%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
645
943
871
-31.6%
Short-term borrowings
n/a
n/a
0.0
Debt
1,172
836
839
+40.2%
Operating lease liabilities
29.0
11.0
6.0
+163.6%
Finance lease liabilities
36.0
43.0
51.0
-16.3%
Other liabilities
743
728
770
+2.1%
Total liabilities and equity
2,625
2,561
2,537
+2.5%
Fixed assets
210
200
191
+5.0%
Goodwill
844
814
829
+3.7%
Intangible assets
33.0
36.0
43.0
-8.3%
Investments
0.0
0.0
0.0
Cash and equivalents
1,035
1,064
1,067
-2.7%
Receivables
209
207
192
+1.0%
Other assets
294
240
215
+22.5%
Total assets
2,625
2,561
2,537
+2.5%
10-K for the year ended 31 December 2025, filed 13 February 2026: the filing.