EXPE Expedia Group, Inc. - Common Stock
$320.90
Price · Aug 18, 2026
Fundamentals as of Aug 6, 2026
52W Range
$185–$335
91% of range
Analyst Rating
HOLD
44 analysts
Price Target
$334
+4% upside
P/E (TTM)
81.8
ROE
91.1%
Net Profit Margin
8.8%
About Expedia Group, Inc. - Common Stock Company overview from Wikipedia
Expedia Group, Inc. is an American travel technology company that owns and operates travel fare aggregators and travel metasearch engines, including Expedia, Hotels.com, Vrbo, Travelocity, Hotwire.com, Orbitz, Ebookers, CheapTickets, CarRentals.com, Expedia Cruises, Wotif, and Trivago. Over 3.5 million lodging facilities and flights on over 500 airlines are bookable on the company's websites. It has 16,500 employees, and its headquarters are located in Seattle, Washington.
Read more
Expedia Group, Inc. is an American travel technology company that owns and operates travel fare aggregators and travel metasearch engines, including Expedia, Hotels.com, Vrbo, Travelocity, Hotwire.com, Orbitz, Ebookers, CheapTickets, CarRentals.com, Expedia Cruises, Wotif, and Trivago. Over 3.5 million lodging facilities and flights on over 500 airlines are bookable on the company's websites. It has 16,500 employees, and its headquarters are located in Seattle, Washington.
The word "Expedia" is derived from a combination of "exploration" and "speed". The company is listed on Nasdaq under the ticker symbol EXPE.
History
Founded as a division of Microsoft in October 1996, Expedia was spun off into a public company in 1999. IAC, known at the time as USA Networks Inc, acquired a controlling interest in the company in 2001 and acquired the remainder of the company in 2003. In August 2005, IAC spun off the company. In December 2011, Expedia, Inc. spun off TripAdvisor.
The company's headquarters moved from Bellevue, Washington to Seattle in 2019.
In February 2020, Expedia announced it was cutting 3,000 jobs, roughly 12% of the workforce, citing a "disappointing 2019". Diller, in his role as acting CEO, stated the company had become "sclerotic and bloated" and that employees were "all life and no work". The company announced another reduction in workforce in February 2024, aiming to reduce 1,500 employees, 208 of which are from the Seattle office.
In 2023, Expedia Group launched One Key, a unified loyalty program for Expedia, Hotels.com, and Vrbo. This allowed users to earn and use rewards across the three brands.
In 2024, Expedia Group launched Travel Shops, a platform that enables influencers and content creators to earn commissions by promoting hotels and travel accommodations.
Expedia Group's AI-powered travel tool launched in 2024 and allows Expedia customers to plan and manage trips.
Acquisition history
Divestitures
Expedia Cruises
Expedia Cruises, formerly CruiseShipCenters International, is a travel agency franchise company established in 1987. In 2024, it had 260 locations in North America, and beyond cruises, booked "luxury and expedition travel, river cruises, land tours, safaris, all-inclusive resort properties and insurance." In 2021, it had 6,100 vacation consultants in the US and Canada.
History
CruiseShipCenters International was established as a travel agency franchise in Vancouver in 1987. In 2007, Expedia bought a "significant but non-controlling" interest in cruise vacation specialists CruiseShipCenters International, then based in Vancouver. At the time, CruiseShipCenters had 100 retail locations in Canada, and booked 20% of all cruises sold in the country. In 2007, it had projected annual revenues of $305 million, with 1,500 cruise consultants. Expedia announced it would expand the company into the United States as well. As of March 2013, Expedia Inc owned 100% of the company.
As of 2014, it retained its corporate office in Vancouver. With franchises in states such as Nevada by 2016, in February 2017, the Expedia division had 190 locations in North America. In 2018, Expedia CruiseShipCenters was expanding in Texas. In 2018, it had over $790 million in gross bookings. In September 2019, the company announced its 300th franchise agreement in North America. Matthew Eichhorst served as president. In 2020, the Expedia CruiseShipCenters rebranded to Expedia Cruises with the tag line Air, Land & Sea Vacations.
It had 290 franchise locations in 2021, and 6,100 vacation consultants in the US and Canada. In 2024, it had 260 locations in North America, and beyond cruises, booked "luxury and expedition travel, river cruises, land tours, safaris, all-inclusive resort properties and insurance." Eichhorst remained president in 2025.
Criticism and legal issues
Delays in refunds of flights cancelled due to COVID-19
In 2020, during the COVID-19 pandemic, customers complained regarding the process to get refunds for cancelled flights. Customers complained of excessively long call times and being unable to get through to a representative. This led to many lawsuits.
Involvement in Israeli settlements
On February 12, 2020, Expedia Group was included on a list of companies operating in West Bank settlements involved in activities that "raised particular human rights concerns" published by the United Nations Human Rights Council. The company was categorized under "the provision of services and utilities supporting the maintenance and existence of settlements".
False advertising and trademark violation incident (2016-2021)
In August 2016, Buckeye Tree Lodge and Sequoia Village Inn, LLC filed a class-action lawsuit in California accusing the company and its partners of violating trademark rights of numerous independent hotel and motel establishments by running advertising implying that consumers could book reservations for those hotels on Expedia even though Expedia had no relationship with those hotels, in violation of the Lanham Act, and also falsely noting that hotels with which the company had no relationship were "sold out". In April 2021, the lawsuit was settled and the company promised not to engage in false advertising.
Australian false advertising lawsuit
Note:
In a civil case spanning from August 2018 to April 2022, Trivago, a member of the Expedia Group, was found to have violated Australian Consumer Law through false advertising and was fined $32.91 million USD. Trivago advertised its online lodging search engine as capable of finding the cheapest deal and/or best rate, when in reality, it would prioritize listings based on their price-per-click. As a result, listings by larger conglomerates, including those by the Expedia Group and it's subsidies, were disproportionately represented on Trivago, even appearing more than once for each hotel. According to Trivago’s data made public during the court case, the company presented a higher-priced room as a “highlighted choice” more than two-thirds of the time, even when a lower price was available.
South Carolina sales tax lawsuit
In January 2011, Travelscape, a subsidiary of Expedia Inc. based in the Las Vegas Valley, was ordered to pay $6.3 million in back sales taxes to South Carolina by the South Carolina Supreme Court. Travelscape argued that South Carolina's efforts to tax online retailers located out-of-state violate the Dormant Commerce Clause. In a unanimous ruling, the court determined that, while Travelscape does not have physical facilities in South Carolina, frequent sales trips made by its employees and the fact that the company furnished hotel rooms in the state establish its presence for tax purposes and is sufficient to be required to pay sales tax.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
EXPE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$320.89
Market Cap
$93.91B
P/E (TTM)
81.8
EPS (TTM)
$9.81
Revenue (TTM)
$14.73B
Div Yield
0.21%
ROE
91.1%
Debt/Equity
4.8
52W Range
$185 – $335
EXPE Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$14.73B
2016-12-31
→
2025-12-31
EPS
$9.81
2016-12-31
→
2025-12-31
Free Cash Flow
$3.11B
2016-12-31
→
2025-12-31
Margins
8.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
EXPE
Peer Median
P/E (TTM)
81.8
27.5
P/S (TTM)
6.4
3.7
P/B
73.1
11.2
EV / EBITDA
34.2
—
Price / FCF
30.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
EXPE
Peer Median
Operating Margin
12.7%
—
Net Profit Margin
8.8%
12.0%
ROA
5.5%
7.7%
ROE
91.1%
41.6%
ROIC
20.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
EXPE
Peer Median
Debt / Equity
4.8
—
Current Ratio
0.7
0.6
Quick Ratio
0.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
EXPE
Peer Median
Revenue YoY
7.6%
—
Revenue CAGR 3Y
8.1%
—
Revenue CAGR 5Y
23.2%
—
EPS YoY
9.6%
—
Net Income YoY
4.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
EXPE
Peer Median
Payout Ratio
15.5%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.21%
Payout Ratio
15.5%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| May 28, 2026 | $0.4800 |
| March 5, 2026 | $0.4800 |
| Nov. 19, 2025 | $0.4000 |
| Aug. 28, 2025 | $0.4000 |
| May 29, 2025 | $0.4000 |
| March 6, 2025 | $0.4000 |
| March 9, 2020 | $0.3400 |
| Nov. 18, 2019 | $0.3400 |
| Aug. 21, 2019 | $0.3400 |
| May 22, 2019 | $0.3200 |
| March 6, 2019 | $0.3200 |
| Nov. 14, 2018 | $0.3200 |
| Aug. 22, 2018 | $0.3200 |
| May 23, 2018 | $0.3000 |
| March 7, 2018 | $0.3000 |
| Nov. 15, 2017 | $0.3000 |
| Aug. 22, 2017 | $0.3000 |
| May 23, 2017 | $0.2800 |
| March 7, 2017 | $0.2800 |
| Nov. 15, 2016 | $0.2600 |
EXPE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
44 analysts
- Strong Buy 10 22.7%
- Buy 12 27.3%
- Hold 22 50.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
35 analysts · 2026-08-16
Median
$330.00
Now
$320.89
Low
$245.00
High
$417.00
Median target
$330.00
+2.8%
Mean target
$333.86
+4.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.33%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $5.76 | $5.34 | 0.42% |
| March 31, 2026 | $1.95 | $1.38 | 0.57% |
| Dec. 31, 2025 | $3.78 | $3.42 | 0.36% |
| Sept. 30, 2025 | $7.57 | $7.06 | 0.51% |
| June 30, 2025 | $4.24 | $4.18 | 0.06% |
| March 31, 2025 | $0.40 | $0.33 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EXPE | $33.14B | 28.9 | 7.6% | 8.8% | 91.1% | — |
| BKNG | $345.53B | 32.3 | 13.4% | — | — | — |
| ABNB | $81.70B | — | 10.3% | 20.5% | 31.4% | — |
| MAR | $82.48B | 32.6 | 4.3% | 9.9% | -77.2% | — |
| RCL | — | 17.9 | 8.8% | 23.8% | 48.5% | — |
| HLT | $66.19B | 46.9 | 7.7% | 12.1% | -32.0% | — |
| CCL | — | 12.8 | 6.4% | 10.4% | 24.8% | — |
| H | — | -291.5 | 6.8% | -0.73% | -1.5% | — |
| NCLH | $10.16B | 24.3 | 3.7% | 4.3% | 22.4% | — |
| NAVN | $3.00B | -3.0 | 30.8% | -56.7% | 204117.9% | 71.3% |
| WH | — | 30.2 | 1.5% | 13.5% | 37.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.73B | $13.69B | $12.84B | $11.67B | $8.60B | $5.20B | $12.07B | $11.22B | $10.06B | $8.77B | $6.67B | $5.76B | |
| Cost of Revenue | · | · | · | · | · | · | $2.16B | $1.97B | $1.76B | $1.60B | $1.31B | $1.18B | |
| SG&A Expense | $765M | $805M | $771M | $748M | $705M | $589M | $807M | $774M | $676M | $678M | $574M | $425M | |
| Operating Income | $1.87B | $1.32B | $1.03B | $1.08B | $186M | $-2.72B | $903M | $714M | $625M | $462M | $414M | $518M | |
| Interest Expense | · | · | $245M | $277M | $351M | $360M | $173M | $190M | $182M | $173M | $126M | $98M | |
| Interest Income | $255M | $235M | $207M | $60M | $9M | $18M | $59M | $71M | $34M | $20M | $17M | $27M | |
| Other Non-op | $-236M | $234M | $23M | $-379M | $-58M | $-77M | $-14M | $-110M | $-60M | $-32M | $113M | $18M | |
| Pretax Income | $1.59B | $1.54B | $1.02B | $538M | $-38M | $-3.15B | $775M | $485M | $417M | $277M | $926M | $465M | |
| Income Tax | $290M | $318M | $330M | $195M | $-53M | $-423M | $203M | $87M | $45M | $16M | $203M | $92M | |
| Net Income | $1.29B | $1.23B | $797M | $352M | $12M | $-2.61B | $565M | $406M | $378M | $282M | $764M | $398M | |
| EPS (Basic) | $10.32 | $9.39 | $5.50 | $2.24 | $-1.80 | $-19.00 | $3.84 | $2.71 | $2.49 | $1.87 | $5.87 | $3.09 | |
| EPS (Diluted) | $9.81 | $8.95 | $5.31 | $2.17 | $-1.80 | $-19.00 | $3.77 | $2.65 | $2.42 | $1.82 | $5.70 | $2.99 | |
| Shares (Basic) | 125,363,000 | 131,432,000 | 144,967,000 | 156,672,000 | 149,734,000 | 141,414,000 | 147,194,000 | 149,961,000 | 151,619,000 | 150,367,000 | 130,159,000 | 128,912,000 | |
| Shares (Diluted) | 131,943,000 | 137,919,000 | 150,228,000 | 161,751,000 | 149,734,000 | 141,414,000 | 149,884,000 | 152,889,000 | 156,385,000 | 154,517,000 | 134,018,000 | 133,168,000 | |
| EBITDA | $2.76B | $2.16B | $1.84B | $1.88B | $1.00B | $-1.83B | · | · | · | $462M | · | $518M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.41B | $4.18B | $4.22B | $4.10B | $4.11B | $3.36B | $3.31B | $2.44B | $2.85B | $1.80B | $1.68B | $1.40B | |
| Short-term Investments | $320M | $300M | $28M | $48M | $200M | $24M | $526M | $28M | $468M | $72M | $34M | $356M | |
| Receivables | $4.17B | $3.21B | $2.79B | $2.08B | $1.26B | $701M | $2.52B | $2.15B | $1.87B | $1.34B | $1.08B | $778M | |
| Prepaid Expense | $699M | $689M | $708M | $774M | $827M | $654M | $521M | $292M | $269M | $200M | $159M | $166M | |
| Current Assets | $12.20B | $9.81B | $9.23B | $8.79B | $8.18B | $5.63B | $7.74B | $5.20B | $5.54B | $3.45B | $2.98B | $2.92B | |
| PP&E (Net) | $2.45B | $2.41B | $2.36B | $2.21B | $2.18B | $2.26B | $2.20B | $1.88B | $1.57B | $1.39B | $1.06B | $553M | |
| PP&E (Gross) | $5.43B | $5.03B | $4.97B | $4.89B | $4.71B | $5.50B | $4.52B | $3.90B | $3.27B | $2.72B | $2.10B | $1.53B | |
| Accum. Depreciation | $3.07B | $2.81B | $2.77B | $2.74B | $2.57B | $3.29B | $2.83B | $2.55B | $2.06B | $1.58B | $1.20B | $1.01B | |
| Goodwill | $6.87B | $6.84B | $6.85B | $7.14B | $7.17B | $7.38B | $8.13B | $8.12B | $8.23B | $7.94B | $7.99B | $3.96B | |
| Intangibles | $819M | $817M | $1.02B | $1.21B | $1.39B | $1.51B | $1.80B | $1.99B | $2.31B | $2.45B | $2.79B | $1.29B | |
| Total Assets | $24.45B | $22.39B | $21.64B | $21.56B | $21.55B | $18.69B | $21.42B | $18.03B | $18.52B | $15.78B | $15.49B | $9.02B | |
| Accrued Liabilities | $1.03B | $766M | $752M | $787M | $824M | $979M | $1.05B | $808M | $1.26B | $1.09B | $1.47B | $754M | |
| Current Liabilities | $16.66B | $13.61B | $11.78B | $10.78B | $9.45B | $5.41B | $10.71B | $8.06B | $7.88B | $6.13B | $5.93B | $4.19B | |
| Capital Leases | $254M | $265M | $314M | $312M | $360M | $513M | $532M | $0 | · | · | · | · | |
| Deferred Tax | $20M | $19M | $33M | $52M | $58M | $67M | $56M | $69M | $329M | $485M | $474M | $453M | |
| Other Non-current Liabilities | $505M | $471M | $473M | $451M | $413M | $462M | $389M | $506M | $408M | $313M | $314M | $180M | |
| Long-term Debt | $6.16B | $6.27B | $6.25B | $6.24B | $8.45B | $8.22B | $4.94B | $3.72B | $4.25B | $3.16B | · | · | |
| Total Debt | $6.16B | $6.27B | $6.25B | $6.24B | $8.45B | $8.22B | · | · | · | $3.16B | · | $1.75B | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $22.0K | $22.0K | $20.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $5.92B | |
| Retained Earnings | $1.70B | $602M | $-632M | $-1.41B | $-1.76B | $-1.78B | $879M | $517M | $331M | $129M | $508M | $0 | |
| Treasury Stock | $16.79B | $14.86B | $13.02B | $10.87B | $10.26B | $10.10B | $9.67B | $5.74B | $4.82B | $4.51B | $4.05B | $4.00B | |
| AOCI | $-191M | $-232M | $-209M | $-234M | $-149M | $-178M | $-217M | $-220M | $-149M | $-280M | $-285M | $-139M | |
| Stockholders' Equity | $1.28B | $1.56B | $1.53B | $2.28B | $2.06B | $1.51B | $3.97B | $4.10B | $4.52B | $4.13B | $4.86B | $1.78B | |
| Liabilities + Equity | $24.45B | $22.39B | $21.64B | $21.56B | $21.55B | $18.69B | $21.42B | $18.03B | $18.52B | $15.78B | $15.49B | $9.02B | |
| Shares Outstanding | 116,975,000 | 287,508,795 | 282,148,576 | 278,264,235 | 274,660,725 | 261,563,912 | 256,691,777 | 134,334,400 | 138,939,000 | 137,232,000 | 137,459,000 | 114,267,000 |
Cash Flow 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $887M | $838M | $807M | $792M | $814M | $893M | $910M | $959M | · | · | · | · | |
| Stock-based Comp | $398M | $458M | $413M | $374M | $418M | $205M | $241M | $203M | $149M | $242M | $178M | $85M | |
| Deferred Tax | $78M | $74M | $62M | $70M | $-145M | $-488M | $-91M | $-308M | $-103M | $-14M | $-22M | $-79M | |
| Amort. of Intangibles | $40M | $57M | $59M | $88M | $99M | $154M | $198M | $283M | $275M | $317M | $156M | $77M | |
| Restructuring | $107M | $80M | $0 | $0 | $55M | $231M | $24M | $0 | $17M | $56M | $105M | $26M | |
| Other Non-cash | $1.22B | $481M | $611M | $1.85B | $2.65B | $-1.83B | · | · | · | · | · | · | |
| Operating Cash Flow | $3.88B | $3.08B | $2.69B | $3.44B | $3.75B | $-3.83B | $2.77B | $1.98B | $1.84B | $1.55B | $1.37B | $1.37B | |
| CapEx | $770M | $756M | $846M | $662M | $673M | $797M | $1.16B | $878M | $710M | $749M | $787M | $328M | |
| Investing Cash Flow | $-531M | $-1.26B | $-800M | $-580M | $-931M | $-263M | $-1.55B | $-559M | $-1.58B | $-718M | $-2.37B | $-924M | |
| Debt Issued | · | · | · | · | $1.96B | $3.94B | $1.23B | $0 | $990M | · | $1.44B | $493M | |
| Net Debt Issued | $-1.04B | $0 | $0 | $-2.14B | $1.96B | $3.94B | · | · | · | · | · | $493M | |
| Stock Repurchased | $1.93B | $1.84B | $2.14B | $607M | $165M | $425M | $743M | $923M | $312M | $456M | $61M | $538M | |
| Net Stock Activity | $-1.93B | $-1.84B | $-2.14B | $-607M | $-165M | $-425M | · | · | · | $-456M | · | $-538M | |
| Dividends Paid | $200M | $0 | $0 | · | · | $48M | $195M | $186M | · | · | · | · | |
| Financing Cash Flow | $-2.14B | $-1.75B | $-2.10B | $-2.62B | $-973M | $4.08B | $175M | $-1.49B | $688M | $-691M | $1.40B | $48M | |
| Net Change in Cash | $1.40B | $-87M | $-190M | $46M | $1.67B | $41M | $1.39B | $-212M | $1.10B | $105M | $274M | $382M | |
| Taxes Paid | $218M | $184M | $281M | $102M | $74M | $108M | $304M | $282M | $174M | $124M | $97M | $70M | |
| Free Cash Flow | $3.11B | $2.33B | $1.84B | $2.78B | $3.08B | $-4.63B | · | · | · | $815M | · | $1.04B | |
| Levered FCF | · | · | $1.68B | $2.60B | $3.21B | $-4.94B | · | · | · | $651M | · | $960M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.7% | 9.6% | 8.1% | 9.3% | 2.2% | -52.3% | · | · | · | 5.3% | · | 9.0% | |
| Net Margin | 8.8% | 9.0% | 6.2% | 3.0% | 0.14% | -50.2% | · | · | · | 3.2% | · | 6.9% | |
| Pretax Margin | 10.8% | 11.3% | 7.9% | 4.6% | -0.44% | -60.6% | · | · | · | 3.1% | · | 8.1% | |
| EBITDA Margin | 18.7% | 15.8% | 14.3% | 16.1% | 11.6% | -35.1% | · | · | · | 5.3% | · | 9.0% | |
| ROA | 5.5% | 5.6% | 3.7% | 1.6% | 0.06% | -13.0% | · | · | · | 1.8% | · | 4.8% | |
| ROE | 91.1% | 79.8% | 41.8% | 16.2% | 0.67% | -95.4% | · | · | · | 6.3% | · | 20.3% | |
| ROIC | 20.5% | 13.4% | 9.0% | 8.1% | -0.70% | -24.2% | · | · | · | 6.0% | · | 11.8% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 | 1.0 | · | · | · | 0.6 | · | 0.7 | |
| Quick Ratio | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.8 | · | · | · | 0.5 | · | 0.6 | |
| Debt / Equity | 4.8 | 4.0 | 4.1 | 2.7 | 4.1 | 5.4 | · | · | · | 0.8 | · | 1.0 | |
| LT Debt / Equity | 3.5 | 3.4 | 4.1 | 2.7 | 3.8 | 5.4 | · | · | · | 0.8 | · | 1.0 | |
| Interest Coverage | · | · | 4.2 | 3.9 | 0.5 | -7.6 | · | · | · | 2.7 | · | 5.3 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.6 | 0.5 | 0.4 | 0.3 | · | · | · | 0.6 | · | 0.7 | |
| Receivables Turnover | 4.0 | 4.6 | 5.3 | 7.0 | 8.8 | 3.2 | · | · | · | 7.2 | · | 8.3 |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.6% | 6.6% | 10.1% | 35.7% | 65.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.1% | 16.8% | 35.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 23.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 9.6% | 68.5% | 144.7% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 65.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 4.9% | 54.8% | 126.4% | 2833.3% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 54.3% | 368.5% | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 33.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $14.73B | $13.69B | $12.84B | $11.67B | $8.60B | $5.20B | $12.07B | $11.22B | $10.06B | $8.77B | $6.67B | $5.76B | |
| Net Income TTM | $1.29B | $1.23B | $797M | $352M | $12M | $-2.61B | $565M | $406M | $378M | $282M | $764M | $398M | |
| Market Cap | $33.14B | $22.97B | $19.96B | $12.94B | $27.13B | $18.28B | · | · | · | $15.55B | · | $9.75B | |
| Enterprise Value | $33.57B | $24.75B | $21.96B | $15.04B | $31.27B | $23.11B | · | · | · | $16.84B | · | $9.74B | |
| P/E | 28.9 | 20.8 | 28.6 | 40.4 | -100.4 | -7.0 | 28.7 | 42.5 | 49.5 | 62.2 | 21.8 | 28.5 | |
| P/S | 2.2 | 1.7 | 1.6 | 1.1 | 3.2 | 3.5 | · | · | · | 1.8 | · | 1.7 | |
| P/B | 25.8 | 14.8 | 13.0 | 5.7 | 13.2 | 12.1 | · | · | · | 3.8 | · | 5.5 | |
| P / Cash Flow | 8.5 | 7.4 | 7.4 | 3.8 | 7.2 | -4.8 | · | · | · | 9.9 | · | 7.1 | |
| P / FCF | 10.7 | 9.9 | 10.8 | 4.7 | 8.8 | -3.9 | · | · | · | 19.1 | · | 9.4 | |
| EV / EBITDA | 12.2 | 11.5 | 11.9 | 8.0 | 31.3 | -12.7 | · | · | · | 36.5 | · | 18.8 | |
| EV / FCF | 10.8 | 10.6 | 11.9 | 5.4 | 10.2 | -5.0 | · | · | · | 20.7 | · | 9.4 | |
| EV / Revenue | 2.3 | 1.8 | 1.7 | 1.3 | 3.6 | 4.4 | · | · | · | 1.9 | · | 1.7 | |
| Dividend Yield | 0.60% | 0.00% | 0.00% | · | · | 0.26% | · | · | · | · | · | · | |
| Earnings Yield | 3.5% | 4.8% | 3.5% | 2.5% | -1.0% | -14.3% | 3.5% | 2.4% | 2.0% | 1.6% | 4.6% | 3.5% | |
| Payout Ratio | 15.5% | · | · | · | · | -1.8% | · | · | · | · | · | · | |
| Annual Payout | $200M | $0 | $0 | · | · | $48M | $195M | $186M | · | · | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.32B | $3.43B | $3.55B | $4.41B | $3.79B | $2.99B | $3.18B | $4.06B | $3.56B | $2.89B | $2.89B | $3.93B | $3.36B | $2.67B | $2.62B | $3.62B | |
| SG&A Expense | $204M | $196M | $202M | $186M | $197M | $180M | $210M | $229M | $180M | $186M | $199M | $194M | $194M | $184M | $186M | $187M | |
| Operating Income | $800M | $251M | $420M | $1.04B | $485M | $-70M | $216M | $762M | $451M | $-110M | $104M | $607M | $443M | $-121M | $128M | $747M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $62M | · | $62M | $61M | $61M | · | $63M | |
| Interest Income | $73M | $60M | $58M | $69M | $74M | $54M | $50M | $67M | $67M | $51M | $45M | $56M | $63M | $43M | $27M | $20M | |
| Other Non-op | $215M | $-175M | $-103M | $88M | $-78M | $-143M | $131M | $106M | $31M | $-34M | $83M | $-157M | $19M | $78M | $88M | $-87M | |
| Pretax Income | $1.03B | $25M | $254M | $1.13B | $423M | $-217M | $335M | $874M | $488M | $-155M | $171M | $444M | $464M | $-61M | $183M | $690M | |
| Income Tax | $152M | $37M | $42M | $167M | $101M | $-20M | $34M | $190M | $113M | $-19M | $35M | $139M | $77M | $79M | $8M | $214M | |
| Net Income | $878M | $-6M | $205M | $959M | $330M | $-200M | $299M | $684M | $386M | $-135M | $132M | $425M | $385M | $-145M | $177M | $482M | |
| EPS (Basic) | $7.30 | $-0.05 | $1.51 | $7.76 | $2.61 | $-1.56 | $2.18 | $5.28 | $2.92 | $-0.99 | $0.85 | $2.98 | $2.62 | $-0.95 | $1.14 | $3.05 | |
| EPS (Diluted) | $7.16 | $-0.05 | $1.56 | $7.33 | $2.48 | $-1.56 | $2.10 | $5.04 | $2.80 | $-0.99 | $0.85 | $2.87 | $2.54 | $-0.95 | $1.14 | $2.98 | |
| Shares (Basic) | 120,223,000 | 121,827,000 | -253,430,000 | 123,699,000 | 126,453,000 | 128,641,000 | -265,775,000 | 129,758,000 | 131,948,000 | 135,501,000 | -296,906,000 | 142,228,000 | 147,168,000 | 152,477,000 | -314,582,000 | 157,628,000 | |
| Shares (Diluted) | 122,552,000 | 121,827,000 | -260,521,000 | 131,014,000 | 132,809,000 | 128,641,000 | -271,146,000 | 135,732,000 | 137,832,000 | 135,501,000 | -301,841,000 | 147,748,000 | 151,844,000 | 152,477,000 | -313,734,000 | 161,829,000 | |
| EBITDA | $1.03B | $479M | · | $1.26B | $708M | $149M | · | $973M | $656M | $100M | · | $815M | $642M | $71M | · | $946M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.68B | $5.54B | $5.41B | $5.83B | $6.30B | $5.71B | $4.18B | $4.72B | $6.24B | $5.69B | · | $5.06B | $6.27B | $5.90B | · | $4.59B | |
| Short-term Investments | $445M | $254M | $320M | $344M | $367M | $411M | $300M | $196M | $31M | $26M | · | $0 | $27M | $44M | · | $49M | |
| Receivables | $5.78B | $5.15B | $4.17B | $4.48B | $4.95B | $4.45B | $3.21B | $3.76B | $4.13B | $3.75B | · | $2.75B | $2.90B | $2.52B | · | $1.99B | |
| Prepaid Expense | $943M | $906M | $699M | $722M | $929M | $930M | $689M | $758M | $924M | $894M | · | $765M | $1.05B | $1.12B | · | $799M | |
| Current Assets | $16.30B | $14.15B | $12.20B | $12.85B | $14.73B | $13.59B | $9.81B | $10.83B | $13.52B | $12.35B | · | $10.09B | $12.81B | $12.13B | · | $9.27B | |
| PP&E (Net) | $2.44B | $2.43B | $2.45B | $2.47B | $2.44B | $2.42B | $2.41B | $2.40B | $2.38B | $2.35B | · | $2.35B | $2.32B | $2.26B | · | $2.17B | |
| PP&E (Gross) | · | · | $5.43B | · | · | · | $5.03B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $3.07B | · | · | · | $2.81B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $7.02B | $7.02B | $6.87B | $6.87B | $6.86B | $6.85B | $6.84B | $6.85B | $6.85B | $6.85B | $6.85B | $6.84B | $7.15B | $7.15B | $7.14B | $7.11B | |
| Intangibles | $878M | $887M | $819M | $797M | $801M | $808M | $817M | $947M | $991M | $1.01B | · | $1.15B | $1.18B | $1.20B | · | $1.22B | |
| Total Assets | $29.06B | $26.46B | $24.45B | $25.11B | $26.98B | $26.11B | $22.39B | $23.41B | $25.89B | $24.76B | · | $22.52B | $25.68B | $24.99B | · | $21.88B | |
| Accrued Liabilities | $905M | $844M | $1.03B | $932M | $923M | $766M | $766M | $887M | $857M | $816M | · | $874M | $819M | $745M | · | $789M | |
| Current Liabilities | $20.35B | $19.36B | $16.66B | $17.26B | $19.61B | $18.57B | $13.61B | $14.79B | $17.76B | $15.56B | · | $12.56B | $15.43B | $14.61B | · | $11.12B | |
| Capital Leases | $226M | $236M | $254M | $262M | $269M | $256M | $265M | $291M | $292M | $301M | · | $288M | $302M | $305M | · | $315M | |
| Deferred Tax | $19M | $31M | $20M | $21M | $21M | $20M | $19M | $34M | $31M | $31M | · | $34M | $35M | $35M | · | $50M | |
| Other Non-current Liabilities | $532M | $524M | $505M | $502M | $520M | $479M | $471M | $506M | $470M | $472M | · | $464M | $447M | $501M | · | $445M | |
| Long-term Debt | $5.46B | $4.47B | $6.16B | $6.22B | $6.21B | $6.21B | $6.27B | $6.26B | $6.26B | $6.26B | · | $6.25B | $6.25B | $6.24B | · | $6.24B | |
| Total Debt | $5.46B | $4.47B | · | $6.22B | $6.21B | $6.21B | · | $6.26B | $6.26B | · | · | · | · | · | · | $6.24B | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Retained Earnings | $2.45B | $1.63B | $1.70B | $1.54B | $630M | $351M | $602M | $303M | $-381M | $-767M | · | $-764M | $-1.17B | $-1.55B | · | $-1.59B | |
| Treasury Stock | $17.84B | $17.58B | $16.79B | $16.46B | $15.92B | $15.24B | $14.86B | $14.68B | $14.20B | $13.67B | · | $12.55B | $11.94B | $11.34B | · | $10.50B | |
| AOCI | $-187M | $-188M | $-191M | $-194M | $-187M | $-220M | $-232M | $-194M | $-223M | $-222M | · | $-240M | $-207M | $-211M | · | $-317M | |
| Stockholders' Equity | $1.21B | $576M | $1.28B | $1.34B | $836M | $1.07B | $1.56B | $1.32B | $889M | $890M | · | $1.67B | $1.76B | $1.83B | · | $2.27B | |
| Liabilities + Equity | $29.06B | $26.46B | $24.45B | $25.11B | $26.98B | $26.11B | $22.39B | $23.41B | $25.89B | $24.76B | · | $22.52B | $25.68B | $24.99B | · | $21.88B | |
| Shares Outstanding | 114,473,000 | 114,476,000 | 116,975,000 | 117,514,000 | 118,969,000 | 122,220,000 | 123,271,000 | 123,316,000 | 125,281,000 | 128,007,000 | 282,148,576 | 134,331,000 | 138,885,000 | 144,084,000 | 278,264,235 | 150,966,000 |
Cash Flow 18
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $228M | $228M | $220M | $225M | $223M | $219M | $212M | $211M | $205M | $210M | $208M | $208M | $199M | $192M | $199M | $199M | |
| Stock-based Comp | $114M | $103M | $105M | $90M | $105M | $98M | $93M | $147M | $114M | $104M | $99M | $105M | $106M | $103M | $94M | $97M | |
| Deferred Tax | $82M | $1M | $-24M | $101M | $47M | $-46M | $8M | $27M | $77M | $-38M | $13M | $66M | $40M | $-57M | $-36M | $189M | |
| Amort. of Intangibles | $11M | $7M | $8M | $10M | $11M | $11M | $13M | $14M | $15M | $15M | $15M | $14M | $15M | $15M | $22M | $23M | |
| Restructuring | $13M | $56M | $31M | $6M | $44M | $26M | $8M | $6M | $18M | $48M | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Non-cash | · | $3.60B | · | · | · | $2.88B | · | · | · | $2.74B | · | · | · | $3.06B | · | · | |
| Operating Cash Flow | $1.48B | $3.93B | $304M | $-497M | $1.12B | $2.95B | $198M | $-1.49B | $1.50B | $2.88B | $-238M | $-1.38B | $1.15B | $3.16B | $-182M | $-997M | |
| CapEx | $199M | $184M | $185M | $189M | $200M | $196M | $191M | $194M | $194M | $177M | $177M | $213M | $223M | $233M | $177M | $170M | |
| Investing Cash Flow | $-768M | $-440M | $-199M | $-112M | $164M | $-384M | $-361M | $-452M | $-209M | $-240M | $-165M | $-247M | $-193M | $-195M | $-66M | $-266M | |
| Net Debt Issued | · | $-1.83B | · | · | · | $-1.04B | · | · | · | · | · | · | · | $0 | · | · | |
| Stock Repurchased | $270M | $788M | $327M | $531M | $688M | $384M | $198M | $469M | $529M | $643M | $468M | $607M | $593M | $469M | $366M | $172M | |
| Net Stock Activity | · | $-788M | · | · | · | $-384M | · | · | · | $-643M | · | · | · | $-469M | · | · | |
| Dividends Paid | $58M | $58M | $49M | $49M | $51M | $51M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Financing Cash Flow | $593M | $-2.65B | $-389M | $-567M | $-711M | $-469M | $-155M | $-441M | $-518M | $-631M | $-497M | $-581M | $-581M | $-437M | $-379M | $-558M | |
| Net Change in Cash | $1.29B | $813M | $-286M | $-1.19B | $721M | $2.16B | $-472M | $-2.32B | $740M | $1.96B | $-831M | $-2.27B | $371M | $2.54B | $-515M | $-1.96B | |
| Taxes Paid | $52M | $61M | $83M | $49M | $39M | $47M | $87M | $40M | $31M | $26M | $53M | $35M | $159M | $34M | $31M | $15M | |
| Free Cash Flow | · | $3.75B | · | · | · | $2.76B | · | · | · | $2.70B | · | · | · | $2.92B | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $2.65B | · | · | · | $2.78B | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.5% | 7.3% | · | 23.5% | 12.8% | -2.3% | · | 18.8% | 12.7% | -3.8% | · | 15.4% | 13.2% | -4.5% | · | 20.6% | |
| Net Margin | 20.3% | -0.18% | · | 21.7% | 8.7% | -6.7% | · | 16.9% | 10.8% | -4.7% | · | 10.8% | 11.5% | -5.4% | · | 13.3% | |
| Pretax Margin | 23.8% | 0.73% | · | 25.6% | 11.2% | -7.3% | · | 21.5% | 13.7% | -5.4% | · | 11.3% | 13.8% | -2.3% | · | 19.1% | |
| EBITDA Margin | 23.8% | 14.0% | · | 28.6% | 18.7% | 5.0% | · | 24.0% | 18.4% | 3.5% | · | 20.7% | 19.1% | 2.7% | · | 26.1% | |
| ROA | 3.1% | -0.02% | · | 4.0% | 1.2% | -0.79% | · | 3.0% | 1.5% | -0.54% | · | 1.9% | 1.5% | -0.59% | · | 2.2% | |
| ROE | 85.9% | -0.73% | · | 72.1% | 38.3% | -20.4% | · | 45.7% | 29.1% | -9.9% | · | 21.6% | 21.0% | -7.4% | · | 24.9% | |
| ROIC | 10.2% | -2.4% | · | 11.7% | 5.2% | -0.87% | · | 7.9% | 4.9% | -10.8% | · | 24.9% | 21.0% | -15.2% | · | 6.1% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.7 | · | 0.7 | 0.8 | 0.7 | · | 0.7 | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | |
| Quick Ratio | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | |
| Debt / Equity | 4.5 | 7.8 | · | 4.6 | 7.4 | 5.8 | · | 4.7 | 7.0 | · | · | · | · | · | · | 2.8 | |
| LT Debt / Equity | 4.5 | 7.8 | · | 3.3 | 5.3 | 4.2 | · | 3.9 | 5.9 | · | · | · | · | · | · | 2.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -1.8 | · | 9.8 | 7.3 | -2.0 | · | 11.9 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | |
| Receivables Turnover | 0.8 | 0.7 | · | 1.1 | 0.8 | 0.7 | · | 1.2 | 1.0 | 0.9 | · | 1.7 | 1.3 | 1.3 | · | 2.1 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $15.94B | $14.61B | · | $15.25B | $14.39B | $13.49B | · | $14.44B | $13.73B | $12.84B | · | $13.57B | $12.82B | $11.71B | · | $12.01B | |
| Net Income TTM | $2.16B | $1.08B | · | $1.77B | $1.20B | $735M | · | $1.36B | $1.06B | $530M | · | $1.15B | $537M | $30M | · | $551M | |
| Market Cap | $29.29B | $26.43B | · | $25.12B | $20.07B | $20.55B | · | $18.25B | $15.78B | $17.63B | · | $13.85B | $15.19B | $13.98B | · | $14.14B | |
| Enterprise Value | $27.62B | $25.11B | · | $25.16B | $19.61B | $20.63B | · | $19.60B | $15.77B | · | · | · | · | · | · | $15.74B | |
| P/E | 15.1 | 28.2 | · | 16.1 | 19.3 | 31.8 | · | 15.2 | 17.5 | 39.7 | · | 13.9 | 32.2 | 1212.9 | · | 28.5 | |
| P/S | 1.8 | 1.8 | · | 1.6 | 1.4 | 1.5 | · | 1.3 | 1.1 | 1.4 | · | 1.0 | 1.2 | 1.2 | · | 1.2 | |
| P/B | 24.2 | 45.9 | · | 18.8 | 24.0 | 19.2 | · | 13.8 | 17.8 | 19.8 | · | 8.3 | 8.6 | 7.6 | · | 6.2 | |
| P / Cash Flow | · | 6.7 | · | · | · | 7.0 | · | · | · | 6.1 | · | · | · | 4.4 | · | · | |
| P / FCF | · | 7.1 | · | · | · | 7.5 | · | · | · | 6.5 | · | · | · | 4.8 | · | · | |
| EV / EBITDA | 26.9 | 52.4 | · | 20.0 | 27.7 | 138.5 | · | 20.1 | 24.0 | · | · | · | · | · | · | 16.6 | |
| EV / FCF | · | 6.7 | · | · | · | 7.5 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 1.7 | 1.7 | · | 1.7 | 1.4 | 1.5 | · | 1.4 | 1.1 | · | · | · | · | · | · | 1.3 | |
| Earnings Yield | 6.6% | 3.5% | · | 6.2% | 5.2% | 3.1% | · | 6.6% | 5.7% | 2.5% | · | 7.2% | 3.1% | 0.08% | · | 3.5% | |
| Payout Ratio | · | -966.7% | · | · | · | -25.5% | · | · | · | · | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $14.73B | $13.69B | $12.84B | $11.67B | $8.60B |
| Operating Margin % | 12.7% | 9.6% | 8.1% | 9.3% | 2.2% |
| Net Income | $1.29B | $1.23B | $797M | $352M | $12M |
| Diluted EPS | $9.81 | $8.95 | $5.31 | $2.17 | $-1.80 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 4.8 | 4.0 | 4.1 | 2.7 | 4.1 |
| Current Ratio | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 |
| Quick Ratio | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $3.11B | $2.33B | $1.84B | $2.78B | $3.08B |
Latest News Recent headlines mentioning this company
- IBD 50 Stock To Watch: Travel Giant Expedia In Buy Zone Following Latest Breakout
- Expedia Group, Inc. Q2 Profit Climbs
- Expedia Group (EXPE) to Acquire CarTrawler to Expand B2B Mobility Platform
- Market Update: CHKP, DTE, EXPE, GILD, NOC
- Expedia and CarTrawler May Be Close to a Deal Following a Meeting in Dublin: Scoop
- Expedia Group CFO Scott Schenkel Steps Down, Derek Andersen Named Replacement
- Expedia Stock Turns Volatile After Rally. Where Does It Go Next?
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Institutional owners (13F) 1,221 filers · $19.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 140 (-19 vs prior Q) | 97 (-71 vs prior Q) | 431 (+18 vs prior Q) | 375 (-27 vs prior Q) | +19.6M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,913,404,367 | 7,477,741 | 9.80% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,486,503,387 | 5,809,377 | 7.61% | Shares |
| STATE STREET CORP | $1,451,470,344 | 5,672,465 | 7.44% | Shares |
| WINDACRE PARTNERSHIP LLC | $1,000,362,860 | 3,909,500 | 5.12% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $938,082,777 | 3,625,744 | 4.81% | Shares |
| NORGES BANK | $734,332,868 | 2,869,833 | 3.76% | Shares |
| PAR CAPITAL MANAGEMENT INC | $485,109,330 | 1,895,847 | 2.49% | Shares |
| FIRST TRUST ADVISORS LP | $468,054,991 | 1,829,197 | 2.40% | Shares |
| AMERIPRISE FINANCIAL INC | $438,184,381 | 1,712,340 | 2.24% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $429,198,783 | 1,677,344 | 2.20% | Shares |
| LYRICAL ASSET MANAGEMENT LP | $367,092,613 | 1,434,628 | 1.88% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $271,289,316 | 1,060,221 | 1.39% | Shares |
| Robeco Institutional Asset Management B.V. | $208,085,967 | 813,217 | 1.07% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $205,979,559 | 804,985 | 1.06% | Shares |
| Caisse de depot et placement du Quebec | $200,900,856 | 785,137 | 1.03% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $187,455,641 | 732,592 | 0.96% | Shares |
| FMR LLC | $184,690,942 | 721,787 | 0.95% | Shares |
| NEUBERGER BERMAN GROUP LLC | $181,368,770 | 708,804 | 0.93% | Shares |
| Amundi | $172,472,076 | 674,035 | 0.88% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $168,288,950 | 657,687 | 0.86% | Shares |
| ROYAL BANK OF CANADA | $154,546,000 | 603,978 | 0.79% | Shares |
| AMERICAN CENTURY COMPANIES INC | $147,126,688 | 574,983 | 0.75% | Shares |
| Quantinno Capital Management LP | $139,729,893 | 546,075 | 0.72% | Shares |
| BARCLAYS PLC | $133,057,600 | 520,000 | 0.68% | Shares |
| GOLDMAN SACHS GROUP INC | $128,028,254 | 500,345 | 0.66% | Shares |
| CITADEL ADVISORS LLC | $127,351,476 | 497,700 | 0.65% | Put option |
| FIL Ltd | $118,989,062 | 465,019 | 0.61% | Shares |
| JANE STREET GROUP, LLC | $118,318,912 | 462,400 | 0.61% | Call option |
| MACKENZIE FINANCIAL CORP | $113,738,148 | 444,498 | 0.58% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $111,567,518 | 436,015 | 0.57% | Shares |
| Gotham Asset Management, LLC | $107,923,531 | 421,774 | 0.55% | Shares |
| Toroso Investments, LLC | $106,276,664 | 375,125 | 0.54% | Shares |
| GOLDMAN SACHS GROUP INC | $99,972,316 | 390,700 | 0.51% | Put option |
| CITADEL ADVISORS LLC | $99,716,436 | 389,700 | 0.51% | Call option |
| Vinva Investment Management Ltd | $99,176,160 | 372,082 | 0.51% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $95,390,423 | 372,794 | 0.49% | Shares |
| RHUMBLINE ADVISERS | $90,643,563 | 354,243 | 0.46% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $89,014,511 | 347,876 | 0.46% | Shares |
| National Pension Service | $88,909,856 | 347,467 | 0.46% | Shares |
| BlackRock, Inc. | $87,429,846 | 341,683 | 0.45% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $86,249,983 | 337,072 | 0.44% | Shares |
| Swiss National Bank | $84,438,097 | 329,991 | 0.43% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $81,712,207 | 319,338 | 0.42% | Shares |
| Legal & General Group Plc | $80,957,363 | 316,388 | 0.41% | Shares |
| JANE STREET GROUP, LLC | $80,576,612 | 314,900 | 0.41% | Put option |
| FULLER & THALER ASSET MANAGEMENT, INC. | $80,447,197 | 314,394 | 0.41% | Shares |
| BANK OF AMERICA CORP /DE/ | $80,198,678 | 313,423 | 0.41% | Shares |
| ALKEON CAPITAL MANAGEMENT LLC | $73,034,293 | 285,424 | 0.37% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $72,512,554 | 283,385 | 0.37% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $68,907,205 | 269,295 | 0.35% | Shares |
| Railway Pension Investments Ltd | $68,744,465 | 268,659 | 0.35% | Shares |
| GOODNOW INVESTMENT GROUP, LLC | $64,065,187 | 250,372 | 0.33% | Shares |
| Vanguard Global Advisers, LLC | $63,444,167 | 247,945 | 0.32% | Shares |
| SEIZERT CAPITAL PARTNERS, LLC | $63,107,940 | 246,631 | 0.32% | Shares |
| California Public Employees Retirement System | $62,874,066 | 245,717 | 0.32% | Shares |
| SEI INVESTMENTS CO | $61,890,730 | 241,874 | 0.32% | Shares |
| Ranmore Fund Management Ltd | $58,227,541 | 227,558 | 0.30% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $57,164,871 | 223,405 | 0.29% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $57,016,205 | 222,824 | 0.29% | Shares |
| MORGAN STANLEY | $54,405,923 | 212,622 | 0.28% | Shares |
| VANGUARD GROUP INC | $54,356,423 | 191,862 | 0.28% | Shares |
| Annex Advisory Services, LLC | $53,357,023 | 231,093 | 0.27% | Shares |
| SEB Asset Management AB | $52,933,312 | 206,868 | 0.27% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $52,199,520 | 204,000 | 0.27% | Shares |
| Glenmede Investment Management, LP | $51,899,141 | 242,803 | 0.27% | Shares |
| Alyeska Investment Group, L.P. | $49,783,245 | 194,557 | 0.26% | Shares |
| LPL Financial LLC | $48,480,565 | 189,466 | 0.25% | Shares |
| GLENMEDE TRUST CO NA | $46,995,688 | 183,663 | 0.24% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $46,866,469 | 183,158 | 0.24% | Shares |
| BARCLAYS PLC | $45,111,644 | 176,300 | 0.23% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $44,952,205 | 194,691 | 0.23% | Shares |
| Patient Capital Management, LLC | $42,940,539 | 167,814 | 0.22% | Shares |
| Swedbank AB | $42,479,151 | 166,012 | 0.22% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $41,952,294 | 163,953 | 0.21% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $41,637,817 | 162,724 | 0.21% | Shares |
| IEQ CAPITAL, LLC | $40,863,268 | 159,697 | 0.21% | Shares |
| STOCK YARDS BANK & TRUST CO | $40,677,761 | 158,972 | 0.21% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $39,615,282 | 155,412 | 0.20% | Shares |
| Baird Financial Group, Inc. | $38,857,406 | 151,857 | 0.20% | Shares |
| MILLENNIUM MANAGEMENT LLC | $38,509,172 | 150,497 | 0.20% | Shares |
| Susquehanna Portfolio Strategies, LLC | $38,019,162 | 148,582 | 0.19% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $37,882,267 | 148,047 | 0.19% | Shares |
| CI INVESTMENTS INC. | $37,832,626 | 147,853 | 0.19% | Shares |
| BURNEY CO/ | $36,973,269 | 144,495 | 0.19% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $36,736,692 | 143,570 | 0.19% | Shares |
| WOLVERINE TRADING, LLC | $36,053,385 | 163,500 | 0.18% | Call option |
| CONGRESS ASSET MANAGEMENT CO | $35,996,026 | 140,675 | 0.18% | Shares |
| Korea Investment CORP | $35,845,717 | 140,088 | 0.18% | Shares |
| BANK OF NOVA SCOTIA | $35,692,445 | 139,489 | 0.18% | Shares |
| RAYMOND JAMES FINANCIAL INC | $35,597,537 | 139,118 | 0.18% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $35,284,828 | 137,896 | 0.18% | Shares |
| WOLVERINE TRADING, LLC | $33,892,387 | 153,700 | 0.17% | Put option |
| Squarepoint Ops LLC | $33,820,683 | 132,174 | 0.17% | Shares |
| Nuveen Asset Management, LLC | $33,778,461 | 181,283 | 0.17% | Shares |
| ALLIANCEBERNSTEIN L.P. | $32,248,406 | 139,670 | 0.17% | Shares |
| PFA Pension, Forsikringsaktieselskab | $31,970,669 | 124,944 | 0.16% | Shares |
| FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC | $30,564,354 | 119,448 | 0.16% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $30,030,860 | 106,000 | 0.15% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $29,430,550 | 115,017 | 0.15% | Shares |
| Walleye Trading LLC | $28,479,444 | 111,300 | 0.15% | Put option |
Company insiders 49 insiders · 17 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ariane Gorin | Chief Executive Officer | Aug. 15, 2026 M | 155,358 | 0 | 0 | $0 |
| Derek Andersen | Chief Financial Officer | Aug. 15, 2026 M | 8,578 | 0 | 0 | $0 |
| Michael B Adler | EVP & Chief Financial Officer | May 16, 2011 M | 92,322 | 0 | 0 | $0 |
| Mark Steven Gunning | EVP & Chief Financial Officer | Feb. 28, 2006 A | — | 0 | 0 | $0 |
| Dhiren R. Fonseca | Co-President, PSG | July 7, 2011 M | 45,345 | 0 | 0 | $0 |
| Gary M Fritz | Co-President, PSG | July 7, 2011 M | 36,170 | 0 | 0 | $0 |
| Robert J Dzielak | Chief Legal Officer & Sec'y | Aug. 15, 2026 M | 105,335 | 0 | 4 | $-4,518,755 |
| Lance A Soliday | SVP & Chief Accounting Officer | Aug. 15, 2026 M | 14,816 | 0 | 4 | $-814,510 |
| BARRY DILLER | Chairman & Sr. Executive | Aug. 15, 2026 M | 162,052 | 0 | 0 | $0 |
| Burke F Norton | EVP, Gen. Counsel & Sec. | Oct. 25, 2011 M | 80,413 | 0 | 0 | $0 |
| Patricia L Zuccotti | SVP, CAO & Controller | March 7, 2011 M | 0 | 0 | 0 | $0 |
| Pierre V Samec | EVP & Chief Technology Officer | Nov. 2, 2010 M | 55,697 | 0 | 0 | $0 |
| Jeffrey W Diana | EVP, Human Resources | Sept. 29, 2008 A | — | 0 | 0 | $0 |
| Kathleen K Dellplain | EVP, Human Resources | April 1, 2008 J | 30,950 | 0 | 0 | $0 |
| Paul Eric Onnen | EVP, Technology | Sept. 15, 2007 M | 14,600 | 0 | 0 | $0 |
| Keenan Michael Conder | SVP, General Counsel & Sec. | March 22, 2006 M | 5,311 | 0 | 0 | $0 |
| William J Ruckelshaus | SVP, Strategy & Planning | Feb. 10, 2006 M | 5,098 | 0 | 0 | $0 |
| Dara Khosrowshahi | Director | Aug. 14, 2026 G | 120,366 | 0 | 0 | $0 |
| Henrique Vasoncelos Dubugras | Director | July 1, 2026 A | 7,170 | 0 | 0 | $0 |
| Patricia Menendez-Cambo | Director | July 1, 2026 A | 10,153 | 0 | 0 | $0 |
| Chelsea Clinton | Director | July 1, 2026 A | 18,983 | 0 | 0 | $0 |
| Alexander Von Furstenberg | Director | July 1, 2026 A | 23,187 | 0 | 0 | $0 |
| Alexandr Wang | Director | June 1, 2026 A | 4,587 | 0 | 0 | $0 |
| Beverly J Anderson | Director | June 1, 2026 A | 10,592 | 0 | 0 | $0 |
| Madhumita Moina Banerjee | Director | June 1, 2026 A | 5,742 | 0 | 1 | $-258,000 |
| Expedia Group, Inc. | Director | July 10, 2023 M | 74,849,607 | 0 | 0 | $0 |
| Qurate Retail, Inc. | Director | Nov. 4, 2016 J | 0 | 0 | 0 | $0 |
| Jose A Tazon | Director | Oct. 1, 2016 A | 40,235 | 0 | 0 | $0 |
| Simon J Breakwell | Director | March 19, 2009 J | 70,032 | 0 | 0 | $0 |
| Goldhill David | Director | Sept. 7, 2007 M | 13,417 | 0 | 0 | $0 |
| IAC/INTERACTIVECORP | 10% owner | Aug. 9, 2005 J | 0 | 0 | 0 | $0 |
| Craig A Jacobson | — | Aug. 13, 2026 S | 29,832 | 0 | 3 | $-2,467,243 |
| Scott F. Schenkel | — | March 15, 2026 M | 29,343 | 0 | 0 | $0 |
| Julie Patenaude | — | Nov. 15, 2024 M | 17,903 | 0 | 0 | $0 |
| Peter M Kern | — | Aug. 29, 2024 J | 80,518 | 0 | 0 | $0 |
| Samuel H. Altman | — | June 1, 2023 M | 6,637 | 0 | 0 | $0 |
| Jonathan L Dolgen | — | Sept. 7, 2022 S | 37,779 | 0 | 0 | $0 |
| Eric M. Hart | — | Aug. 15, 2022 M | 28,862 | 0 | 0 | $0 |
| Susan C Athey | — | June 1, 2022 A | 4,187 | 0 | 0 | $0 |
| Jon T. Gieselman | — | Dec. 3, 2020 M | 3,220 | 0 | 0 | $0 |
| George A Battle | — | Aug. 7, 2020 P | 58,662 | 0 | 0 | $0 |
| Alan R Pickerill | — | Aug. 19, 2019 M | 3,897 | 0 | 0 | $0 |
| Liberty Expedia Holdings, Inc. | — | July 26, 2019 J | 16,600,124 | 0 | 0 | $0 |
| Courtnee A Chun | — | July 26, 2019 M | 7,728 | 0 | 0 | $0 |
| Pamela L Coe | — | July 26, 2019 M | 11,577 | 0 | 0 | $0 |
| Christopher W Shean | — | July 26, 2019 M | 23,343 | 0 | 0 | $0 |
| Victor Kaufman | — | June 1, 2019 A | 78,111 | 0 | 0 | $0 |
| Mark D Okerstrom | — | Feb. 28, 2019 A | 65,001 | 0 | 0 | $0 |
| Scott Rudin | — | June 21, 2018 M | 2,133 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 9 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Expedia Group, Inc. | May 5, 2026 | 14.30% | Amendment | — | SEC |
| Expedia Group, Inc. (2) ×3 filings | Jan. 16, 2024 | — | Initial filing | — | SEC |
| Barry Diller ×5 filings | May 12, 2022 | — | Initial filing | — | SEC |
| Liberty Expedia Holdings, Inc. (LEMS I LLC as successor by merger to Liberty Expedia Holdings, Inc.), Barry Diller | July 29, 2019 | — | Initial filing | — | SEC |
| Liberty Expedia Holdings, Inc., Barry Diller ×4 filings | April 16, 2019 | — | Initial filing | — | SEC |
| Liberty Interactive Corporation, Barry Diller ×5 filings | Nov. 14, 2016 | — | Initial filing | — | SEC |
| Expedia Asia Pacific – Alpha Limited, Expedia, Inc., Barry Diller ×5 filings | May 22, 2015 | — | Initial filing | — | SEC |
| Liberty Media Corporation, Barry Diller, BDTV Inc., BDTV II INC., BDTV III INC., BDTV IV INC. ×2 filings | Nov. 1, 2007 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Dec. 13, 2005 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 236 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PEJ · Invesco Exchange-Traded Fund Trust | 6.36% | 66,778 SH | Aug. 8, 2026 | Daily |
| BRNY · EA Series Trust | 5.58% | 124,146 NS | April 30, 2026 | N-PORT |
| EBIZ · Global X Funds | 4.06% | 4,778 NS | April 30, 2026 | N-PORT |
| BUL · Pacer Funds Trust | 3.83% | 19,571 NS | April 30, 2026 | N-PORT |
| RSPD · Invesco Exchange-Traded Fund Trust | 2.79% | 30,090 SH | Aug. 8, 2026 | Daily |
| UPGD · Invesco Exchange-Traded Fund Trust | 2.66% | 10,424 SH | Aug. 8, 2026 | Daily |
| SPGP · Invesco Exchange-Traded Fund Trust | 2.01% | 150,672 SH | Aug. 8, 2026 | Daily |
| CALF · Pacer Funds Trust | 2.00% | 276,534 NS | April 30, 2026 | N-PORT |
| SMRI · EA Series Trust | 1.98% | 43,173 NS | April 30, 2026 | N-PORT |
| JMID · Janus Detroit Street Trust | 1.88% | 1,378 NS | April 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 1.75% | 311 NS | April 30, 2026 | N-PORT |
| FLOW · Global X Funds | 1.72% | 2,188 NS | May 31, 2026 | N-PORT |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 1.72% | 65,327 SH | Aug. 8, 2026 | Daily |
| MILN · Global X Funds | 1.57% | 6,757 NS | May 31, 2026 | N-PORT |
| RPG · Invesco Exchange-Traded Fund Trust | 1.42% | 92,769 SH | Aug. 8, 2026 | Daily |
| ABFL · Abacus FCF ETF Trust | 1.38% | 27,577 NS | April 30, 2026 | N-PORT |
| GURU · Global X Funds | 1.33% | 3,135 NS | April 30, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 1.07% | 60,861 SH | Aug. 8, 2026 | Daily |
| COWZ · Pacer Funds Trust | 1.03% | 751,755 NS | April 30, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 1.02% | 1,922 NS | April 30, 2026 | N-PORT |
| RDVI · First Trust Exchange-Traded Fund IV | 1.01% | 124,616 NS | April 30, 2026 | N-PORT |
| GDIV · Harbor ETF Trust | 1.00% | 9,131 NS | April 30, 2026 | N-PORT |
| IWP · iShares Trust | 1.00% | 659,522 SH | Aug. 8, 2026 | Daily |
| PNQI · Invesco Exchange-Traded Fund Trust | 0.98% | 17,149 SH | Aug. 8, 2026 | Daily |
| SPHB · Invesco Exchange-Traded Fund Trust … | 0.98% | 29,834 SH | Aug. 8, 2026 | Daily |
| NULG · Nushares ETF Trust | 0.95% | 99,342 NS | April 30, 2026 | N-PORT |
| FLRG · FIDELITY COVINGTON TRUST | 0.93% | 10,614 NS | April 30, 2026 | N-PORT |
| AMOM · Exchange Listed Funds Trust | 0.92% | 1,134 NS | April 30, 2026 | N-PORT |
| LSVD · ADVISORS' INNER CIRCLE FUND | 0.90% | 22,000 NS | April 30, 2026 | N-PORT |
| FXD · First Trust Exchange-Traded AlphaDE… | 0.89% | 9,463 NS | April 30, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.80% | 7,627 NS | April 30, 2026 | N-PORT |
| TAX · EA Series Trust | 0.78% | 882 NS | May 29, 2026 | N-PORT |
| SMIZ · Zacks Trust | 0.71% | 8,059 NS | May 31, 2026 | N-PORT |
| VLUE · iShares Trust | 0.68% | 207,520 SH | Aug. 8, 2026 | Daily |
| GARP · iShares Trust | 0.65% | 59,922 SH | Aug. 8, 2026 | Daily |
| VOT · VANGUARD INDEX FUNDS | 0.64% | 877,185 SH | Aug. 8, 2026 | Daily |
| FVAL · FIDELITY COVINGTON TRUST | 0.60% | 29,425 NS | April 30, 2026 | N-PORT |
| HIBL · Direxion Shares ETF Trust | 0.59% | 1,863 NS | April 30, 2026 | N-PORT |
| IYC · iShares Trust | 0.58% | 22,758 SH | Aug. 8, 2026 | Daily |
| ITAN · EA Series Trust | 0.57% | 2,263 NS | May 29, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.56% | 54,675 NS | May 31, 2026 | N-PORT |
| ABCS · EA Series Trust | 0.55% | 274 NS | May 29, 2026 | N-PORT |
| QDF · FlexShares Trust | 0.53% | 45,540 NS | April 30, 2026 | N-PORT |
| RXI · iShares Trust | 0.53% | 4,706 SH | Aug. 8, 2026 | Daily |
| FLCC · Federated Hermes ETF Trust | 0.51% | 2,732 NS | May 31, 2026 | N-PORT |
| VCR · VANGUARD WORLD FUND | 0.50% | 134,375 SH | Aug. 8, 2026 | Daily |
| RCGE · EA Series Trust | 0.50% | 1,892 NS | April 30, 2026 | N-PORT |
| SZNE · Pacer Funds Trust | 0.50% | 269 NS | April 30, 2026 | N-PORT |
| FCPI · FIDELITY COVINGTON TRUST | 0.50% | 5,432 NS | April 30, 2026 | N-PORT |
| WLDR · Two Roads Shared Trust | 0.50% | 1,422 NS | April 30, 2026 | N-PORT |