Airbnb, Inc. (ABNB) vs Expedia Group, Inc. (EXPE)

Airbnb, Inc. and Expedia Group, Inc. are both Travel Services companies. Airbnb, Inc. is the larger, with a market value of $91.2B against $31.5B — 2.9× the size. Expedia Group, Inc. trades at the lower P/E: 15.8× against 35.3×. Airbnb, Inc. grew revenue faster over the last twelve months: 13.6% against 12.0%. Airbnb, Inc. has the higher net margin (20.5% vs 13.0%) and the higher return on invested capital (0.00% vs 0.00%). Across the 20 metrics below, Airbnb, Inc. leads on 10 and Expedia Group, Inc. on 10.

Valuation

Metric ABNB EXPE Travel Services median
P/E 35.31 15.84 17.52
P/S 7.08 2.02 2.24
P/B 11.95 12.85 2.61
Price to free cash flow 19.42 7.12 12.40
EV/EBITDA 31.27 7.69 12.77
EV/Sales 6.51 1.87 2.38
Earnings yield 2.83% 6.31% 3.30%
Free cash flow yield 5.15% 14.04% 3.22%

Profitability

Metric ABNB EXPE Travel Services median
Gross margin 82.90% 90.43% 67.64%
Operating margin 20.81% 15.97% 15.06%
Net margin 20.45% 12.97% 6.64%
Free cash flow margin 36.93% 28.40% 3.21%
Return on equity 34.54% 89.36% 7.53%
Return on assets 9.65% 7.27% 3.40%
Return on invested capital 0.00% 0.00% 4.65%

Growth

Metric ABNB EXPE Travel Services median
Revenue growth (TTM) 13.64% 12.00% 13.25%
EPS growth (last fiscal year) (1.95%) 9.61% —
Revenue growth, 5-year CAGR 29.37% 23.16% 28.66%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ABNB EXPE Travel Services median
Debt to equity 0.32 2.21 0.32
Current ratio 1.41 0.80 1.20
Net debt to EBITDA (3.54) (0.36) 1.07

Dividend

Metric ABNB EXPE Travel Services median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric ABNB EXPE Travel Services median
Market cap 91.18b 31.48b 4.41b

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