Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Expedia Group Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibited significant volatility over the observed periods. Starting at 52.88 in the first quarter of 2018, it peaked at 75.88 in the second quarter of 2018 before generally declining through the end of 2019, reaching a low of 28.14 in the third quarter of 2019. Data is missing for the period between the end of 2019 and early 2022; however, the ratio surged sharply to 109.83 by the first quarter of 2022, indicating a substantial increase in market price relative to earnings at that time.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio followed a trend somewhat aligned with the P/E ratio until the end of 2019, decreasing from 32.45 in the first quarter of 2018 to 16.97 by the third quarter of 2019, signaling improving operating profitability relative to price. Missing data in the subsequent period limits analysis until early 2022, where a sharp increase to 160.88 suggests a significant disconnect between price and operating profit, subsequently declining to 56.22 in the first quarter of 2022.
- Price to Sales (P/S) Ratio
- The P/S ratio reveals a pronounced upward trend beginning in early 2020, starting at 0.93 in the first quarter of 2020 and peaking at 6.02 in the first quarter of 2021. This indicates a considerable increase in market valuation relative to sales. After reaching this peak, the ratio steadily declined, standing at 2.46 by the first quarter of 2022. The earlier data (2018-2019) show relatively stable values fluctuating between 1.2 and 1.93.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio demonstrates a consistent upward trajectory across the entire series, beginning around 4.12 in the first quarter of 2018 and rising steadily to a peak of 14.55 in the third quarter of 2021. Although it decreased slightly to 11.36 by the first quarter of 2022, the overall trend reflects increasing market valuation relative to book value. This suggests heightened investor confidence or intangible asset appreciation over time.
- Overall Insights
- In summary, the valuation multiples reveal distinct phases. Early periods show moderate to declining valuation ratios (P/E and P/OP), suggesting improving earnings and operating profitability. From 2020 onwards, there is a notable spike in price multiples relative to sales and book value, indicating increased market optimism or valuation inflation, possibly influenced by external factors affecting the company's sales and profitability. The sharp increase in P/E and P/OP ratios in early 2022 suggests the market price rose substantially relative to earnings and operating profit, which may warrant further investigation to understand the underlying causes.
Price to Earnings (P/E)
Expedia Group Inc., historical P/E calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 157,097,831 | 155,754,357 | 151,527,638 | 150,819,802 | 146,970,608 | 143,864,551 | 141,461,430 | 141,226,707 | 140,982,842 | 139,989,125 | 144,886,272 | 149,632,711 | 148,807,688 | 147,190,304 | 148,974,432 | 149,451,104 | 150,314,136 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Net income (loss) attributable to Expedia Group, Inc. common stockholders (in millions) | (122) | 276) | 362) | (301) | (606) | (412) | (221) | (753) | (1,301) | 76) | 409) | 183) | (103) | 17) | 525) | 1) | (137) | ||||||
| Earnings per share (EPS)2 | 1.37 | -1.73 | -6.32 | -10.21 | -13.55 | -18.68 | -15.54 | -11.11 | -4.49 | 4.04 | 3.49 | 4.16 | 2.96 | 2.76 | 2.98 | 1.82 | 2.18 | ||||||
| Share price1, 3 | 150.31 | 192.12 | 182.17 | 148.89 | 173.46 | 146.51 | 103.10 | 81.01 | 77.01 | 122.80 | 98.29 | 138.21 | 127.10 | 130.80 | 120.50 | 137.79 | 115.07 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/E ratio4 | 109.83 | — | — | — | — | — | — | — | — | 30.43 | 28.14 | 33.25 | 42.99 | 47.42 | 40.42 | 75.88 | 52.88 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||
| Amazon.com Inc. | 59.05 | 48.08 | 65.12 | 57.25 | 65.00 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Home Depot Inc. | 22.81 | 24.51 | 23.56 | 26.04 | 24.24 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lowe’s Cos. Inc. | 20.09 | 22.36 | 21.14 | 22.50 | 21.16 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| TJX Cos. Inc. | 53.90 | 881.78 | 103.90 | 92.86 | 38.61 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
EPS
= (Net income (loss) attributable to Expedia Group, Inc. common stockholdersQ1 2022
+ Net income (loss) attributable to Expedia Group, Inc. common stockholdersQ4 2021
+ Net income (loss) attributable to Expedia Group, Inc. common stockholdersQ3 2021
+ Net income (loss) attributable to Expedia Group, Inc. common stockholdersQ2 2021)
÷ No. shares of common stock outstanding
= (-122,000,000 + 276,000,000 + 362,000,000 + -301,000,000)
÷ 157,097,831 = 1.37
3 Closing price as at the filing date of Expedia Group Inc. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/E ratio = Share price ÷ EPS
= 150.31 ÷ 1.37 = 109.83
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated notable fluctuations over the observed periods. Initially, it rose from $115.07 at the end of March 2018 to a peak of approximately $138.21 in June 2019. Subsequently, it experienced a significant decline reaching a low of $77.01 by March 2020, coinciding with broader market disruptions. Following this, a recovery trend is observed, with the share price increasing steadily to a high of $192.12 by December 2021 before retreating to $150.31 by March 2022.
- Earnings per Share (EPS)
- EPS values show a generally positive trend through 2018 and 2019, peaking at 4.16 in June 2019. However, a sharp decline is observed beginning in March 2020, reflecting negative earnings with the EPS plummeting to -18.68 by December 2020. Thereafter, a gradual improvement occurs, with EPS returning to positive territory at 1.37 by March 2022. This pattern suggests a severe impact on profitability during the 2020 period followed by recovery.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio shows variability consistent with fluctuations in share price and earnings. Initially high, peaking at 75.88 in June 2018, it declines to mid-20s to 30s range by late 2019, reflecting improved earnings levels relative to the stock price. Data for much of 2020 and 2021 is absent, likely due to negative EPS making the ratio non-meaningful. By March 2022, the P/E ratio rises sharply to 109.83, indicating that the share price increased significantly relative to positive but modest earnings, suggestive of elevated market expectations or valuation.
Price to Operating Profit (P/OP)
Expedia Group Inc., historical P/OP calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 157,097,831 | 155,754,357 | 151,527,638 | 150,819,802 | 146,970,608 | 143,864,551 | 141,461,430 | 141,226,707 | 140,982,842 | 139,989,125 | 144,886,272 | 149,632,711 | 148,807,688 | 147,190,304 | 148,974,432 | 149,451,104 | 150,314,136 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Operating income (loss) (in millions) | (135) | 163) | 524) | (132) | (369) | (463) | (113) | (849) | (1,294) | 160) | 609) | 265) | (131) | 96) | 672) | 111) | (165) | ||||||
| Operating profit per share2 | 2.67 | 1.19 | -2.90 | -7.14 | -12.21 | -18.90 | -14.82 | -9.73 | -1.84 | 6.45 | 5.79 | 6.03 | 5.03 | 4.85 | 4.91 | 3.62 | 3.55 | ||||||
| Share price1, 3 | 150.31 | 192.12 | 182.17 | 148.89 | 173.46 | 146.51 | 103.10 | 81.01 | 77.01 | 122.80 | 98.29 | 138.21 | 127.10 | 130.80 | 120.50 | 137.79 | 115.07 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/OP ratio4 | 56.22 | 160.88 | — | — | — | — | — | — | — | 19.04 | 16.97 | 22.93 | 25.29 | 26.96 | 24.54 | 38.05 | 32.45 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||
| Amazon.com Inc. | 64.24 | 64.48 | 60.45 | 56.87 | 62.96 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Home Depot Inc. | 16.20 | 17.25 | 16.72 | 18.45 | 17.14 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lowe’s Cos. Inc. | 12.57 | 13.52 | 12.50 | 15.21 | 14.04 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| TJX Cos. Inc. | 30.54 | 137.02 | 74.61 | 60.02 | 30.12 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
Operating profit per share
= (Operating income (loss)Q1 2022
+ Operating income (loss)Q4 2021
+ Operating income (loss)Q3 2021
+ Operating income (loss)Q2 2021)
÷ No. shares of common stock outstanding
= (-135,000,000 + 163,000,000 + 524,000,000 + -132,000,000)
÷ 157,097,831 = 2.67
3 Closing price as at the filing date of Expedia Group Inc. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 150.31 ÷ 2.67 = 56.22
5 Click competitor name to see calculations.
- Share Price Analysis
- The share price demonstrated moderate fluctuations throughout the observed periods from March 2018 to March 2022. Initially, there was an upward trend from 115.07 USD in March 2018 to a peak of 138.21 USD in June 2019. Subsequently, the share price declined significantly to a low of 77.01 USD by March 2020, coinciding with a period of global market disruptions.
- Following this trough, the share price experienced a strong recovery, reaching a high of 192.12 USD in December 2021. However, by March 2022, it decreased to 150.31 USD, reflecting a notable correction after the previous peak. Overall, the share price trend indicates substantial volatility with a recovery phase post-2020 downturn.
- Operating Profit Per Share (OPPS) Analysis
- There was a general upward trend in operating profit per share from 3.55 USD in March 2018, peaking at 6.45 USD by December 2019. This period reflects overall operational growth and improved earnings before the impact of economic challenges in 2020.
- A sharp decline followed, with negative values from March 2020 through December 2020, reaching an operating loss per share of -18.9 USD. This indicates significant operational difficulties and losses during this timeframe.
- After bottoming out, operating profit per share gradually improved through 2021, moving from -12.21 USD in March 2021 to positive territory at 2.67 USD by March 2022. This recovery points to a return to profitable operations, albeit not reaching pre-2020 levels by the end of the period.
- Price to Operating Profit Ratio (P/OP) Analysis
- From March 2018 until December 2019, the P/OP ratio generally decreased from 32.45 to 19.04, indicating a relative normalization between share price and operating profits amidst growth in profits.
- Data for this ratio is missing during the downturn period when operating profits were negative, reflecting the unsuitability of this metric during loss-making intervals.
- In March 2021 and March 2022, the P/OP ratio shows extreme volatility, with values at 160.88 and 56.22 respectively. The elevated ratios at these points, despite positive share prices and recovering operating profits, suggest a lag in profit recovery relative to share price or possible market premium driven by growth expectations or volatility.
- Overall Financial Trends and Insights
- The company experienced steady growth in profitability up to late 2019, followed by severe operational challenges in 2020, reflected by significant losses per share and share price declines.
- Post-2020, a recovery phase is clear, with improving operational profitability and share price appreciation into 2021, although operating profits have not fully returned to pre-downturn levels by early 2022.
- The P/OP ratio's behavior suggests that market valuation reacted positively to improving conditions but possibly overshot relative to operational fundamentals, implying elevated investor expectations during the recovery phase.
Price to Sales (P/S)
Expedia Group Inc., historical P/S calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 157,097,831 | 155,754,357 | 151,527,638 | 150,819,802 | 146,970,608 | 143,864,551 | 141,461,430 | 141,226,707 | 140,982,842 | 139,989,125 | 144,886,272 | 149,632,711 | 148,807,688 | 147,190,304 | 148,974,432 | 149,451,104 | 150,314,136 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Revenue (in millions) | 2,249) | 2,279) | 2,962) | 2,111) | 1,246) | 920) | 1,504) | 566) | 2,209) | 2,747) | 3,558) | 3,153) | 2,609) | 2,559) | 3,276) | 2,880) | 2,508) | ||||||
| Sales per share2 | 61.11 | 55.20 | 47.77 | 38.33 | 28.82 | 36.14 | 49.67 | 64.29 | 82.75 | 86.20 | 81.99 | 77.50 | 76.10 | 76.25 | 73.73 | 71.42 | 69.05 | ||||||
| Share price1, 3 | 150.31 | 192.12 | 182.17 | 148.89 | 173.46 | 146.51 | 103.10 | 81.01 | 77.01 | 122.80 | 98.29 | 138.21 | 127.10 | 130.80 | 120.50 | 137.79 | 115.07 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/S ratio4 | 2.46 | 3.48 | 3.81 | 3.88 | 6.02 | 4.05 | 2.08 | 1.26 | 0.93 | 1.42 | 1.20 | 1.78 | 1.67 | 1.72 | 1.63 | 1.93 | 1.67 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||
| Amazon.com Inc. | 2.65 | 3.41 | 3.73 | 3.80 | 4.17 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Home Depot Inc. | 2.38 | 2.39 | 2.34 | 2.58 | 2.37 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lowe’s Cos. Inc. | 1.45 | 1.46 | 1.33 | 1.60 | 1.31 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| TJX Cos. Inc. | 2.15 | 2.48 | 2.33 | 1.96 | 1.77 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
Sales per share
= (RevenueQ1 2022
+ RevenueQ4 2021
+ RevenueQ3 2021
+ RevenueQ2 2021)
÷ No. shares of common stock outstanding
= (2,249,000,000 + 2,279,000,000 + 2,962,000,000 + 2,111,000,000)
÷ 157,097,831 = 61.11
3 Closing price as at the filing date of Expedia Group Inc. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= 150.31 ÷ 61.11 = 2.46
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable fluctuations over the analyzed periods. Initially, it increased from $115.07 to a peak of $138.21 by mid-2019, before declining sharply to around $77.01 by March 2020. Subsequently, the price recovered strongly, reaching a high of $192.12 by December 2021, followed by a decline to approximately $150.31 by March 2022.
- Sales Per Share Trend
- Sales per share showed a steady increase from $69.05 in March 2018 to a peak of $86.20 in December 2019. Beginning in early 2020, sales per share declined significantly, reaching a low of $28.82 in March 2021. After this trough, a gradual recovery was observed, with sales per share increasing to $61.11 by March 2022, though still below pre-2020 levels.
- Price to Sales (P/S) Ratio Trend
- The P/S ratio fluctuated alongside the share price and sales per share, starting at 1.67 in March 2018 and generally hovering around the 1.5 to 1.9 range until late 2019. A sharp decline occurred in early 2020 with the ratio falling to as low as 0.93 in March 2020, reflecting the combined impact of reduced sales and share price volatility during that period. Subsequently, the ratio increased sharply, reaching an exceptionally high peak of 6.02 in March 2021, before gradually declining to 2.46 by March 2022.
- Overall Analysis
- Throughout the period, significant external and market influences appear to have impacted financial performance, especially evident in early 2020 with marked decreases in both share price and sales per share. The recovery phase demonstrates strengthening investor confidence and improving sales metrics, though sales per share have not fully returned to their previous peak levels. The elevated P/S ratio in early 2021 suggests a valuation premium relative to sales, possibly reflecting optimistic market expectations during the recovery period. The subsequent moderating of the P/S ratio indicates a normalization of valuation levels.
Price to Book Value (P/BV)
Expedia Group Inc., historical P/BV calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 157,097,831 | 155,754,357 | 151,527,638 | 150,819,802 | 146,970,608 | 143,864,551 | 141,461,430 | 141,226,707 | 140,982,842 | 139,989,125 | 144,886,272 | 149,632,711 | 148,807,688 | 147,190,304 | 148,974,432 | 149,451,104 | 150,314,136 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Total Expedia Group, Inc. stockholders’ equity (in millions) | 2,078) | 2,057) | 2,114) | 1,607) | 2,231) | 2,532) | 2,654) | 2,756) | 2,270) | 3,967) | 4,184) | 4,342) | 4,083) | 4,104) | 4,386) | 3,967) | 4,195) | ||||||
| Book value per share (BVPS)2 | 13.23 | 13.21 | 13.95 | 10.66 | 15.18 | 17.60 | 18.76 | 19.51 | 16.10 | 28.34 | 28.88 | 29.02 | 27.44 | 27.88 | 29.44 | 26.54 | 27.91 | ||||||
| Share price1, 3 | 150.31 | 192.12 | 182.17 | 148.89 | 173.46 | 146.51 | 103.10 | 81.01 | 77.01 | 122.80 | 98.29 | 138.21 | 127.10 | 130.80 | 120.50 | 137.79 | 115.07 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/BV ratio4 | 11.36 | 14.55 | 13.06 | 13.97 | 11.43 | 8.32 | 5.50 | 4.15 | 4.78 | 4.33 | 3.40 | 4.76 | 4.63 | 4.69 | 4.09 | 5.19 | 4.12 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||
| Amazon.com Inc. | 9.44 | 11.60 | 14.19 | 14.68 | 16.93 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Home Depot Inc. | 192.67 | 95.58 | 191.69 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lowe’s Cos. Inc. | 307.81 | 90.79 | 27.86 | 29.56 | 56.37 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| TJX Cos. Inc. | 13.27 | 13.68 | 13.99 | 14.17 | 13.72 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
BVPS = Total Expedia Group, Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= 2,078,000,000 ÷ 157,097,831 = 13.23
3 Closing price as at the filing date of Expedia Group Inc. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= 150.31 ÷ 13.23 = 11.36
5 Click competitor name to see calculations.
- Share Price Trend
- The share price experienced fluctuations over the observed periods, initially increasing from $115.07 at the end of Q1 2018 to a peak around $138.21 in Q2 2019. This was followed by a notable drop to $77.01 by Q1 2020, coinciding with the early phase of the COVID-19 pandemic. Subsequently, a recovery phase ensued, with the share price rising steadily to a high of $192.12 by Q4 2021 before declining to $150.31 in Q1 2022.
- Book Value per Share (BVPS) Trend
- BVPS showed relative stability from Q1 2018 through Q4 2019, generally oscillating around the high twenties (approximately $27 to $29 per share). However, there was a sharp decline starting in Q1 2020, falling to a low of $10.66 in Q2 2021. Following this, a modest recovery occurred, with BVPS reaching $13.23 by Q1 2022.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio initially displayed moderate values between 3.4 and 5.19 through 2018 and 2019, reflecting a fairly consistent market valuation relative to book value. From Q1 2020 onward, the ratio surged significantly, peaking at 14.55 in Q4 2021. This rapid rise primarily results from the steep decline in BVPS during this period, while share prices recovered or even increased. By Q1 2022, the P/BV ratio decreased slightly to 11.36 but remained elevated relative to earlier years.
- Overall Insights
- The financial data illustrates a period of volatility marked by the impact of external market conditions beginning in early 2020. The sharp drop in BVPS suggests reduced asset value or equity concerns during the pandemic onset, while the share price recovery and elevated P/BV ratios indicate heightened market expectations or optimistic investor sentiment relative to the company's underlying book value. The divergence between share price and BVPS in the post-pandemic period points to potential revaluation in the market that may reflect growth prospects, recovery confidence, or other market dynamics rather than tangible asset value changes alone.