Intrinsic value of Expedia Group, Inc. - EXPE

Previous Close

$115.92

  Intrinsic Value

$156.42

stock screener

  Rating & Target

buy

+35%

Previous close

$115.92

 
Intrinsic value

$156.42

 
Up/down potential

+35%

 
Rating

buy

We calculate the intrinsic value of EXPE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 17.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.30
  9.77
  9.29
  8.86
  8.48
  8.13
  7.82
  7.53
  7.28
  7.05
  6.85
  6.66
  6.50
  6.35
  6.21
  6.09
  5.98
  5.88
  5.80
  5.72
  5.64
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
  5.28
  5.25
Revenue, $m
  12,379
  13,588
  14,851
  16,168
  17,538
  18,964
  20,446
  21,987
  23,588
  25,252
  26,981
  28,779
  30,648
  32,594
  34,618
  36,727
  38,924
  41,214
  43,603
  46,095
  48,697
  51,414
  54,253
  57,221
  60,324
  63,570
  66,966
  70,520
  74,242
  78,139
Variable operating expenses, $m
  11,406
  12,503
  13,647
  14,840
  16,082
  17,374
  18,718
  20,114
  21,565
  23,073
  24,452
  26,081
  27,776
  29,539
  31,374
  33,285
  35,276
  37,352
  39,516
  41,775
  44,133
  46,596
  49,169
  51,858
  54,670
  57,612
  60,689
  63,911
  67,284
  70,816
Fixed operating expenses, $m
  151
  155
  158
  161
  165
  169
  172
  176
  180
  184
  188
  192
  196
  201
  205
  210
  214
  219
  224
  229
  234
  239
  244
  250
  255
  261
  266
  272
  278
  284
Total operating expenses, $m
  11,557
  12,658
  13,805
  15,001
  16,247
  17,543
  18,890
  20,290
  21,745
  23,257
  24,640
  26,273
  27,972
  29,740
  31,579
  33,495
  35,490
  37,571
  39,740
  42,004
  44,367
  46,835
  49,413
  52,108
  54,925
  57,873
  60,955
  64,183
  67,562
  71,100
Operating income, $m
  821
  931
  1,046
  1,166
  1,291
  1,421
  1,556
  1,697
  1,843
  1,995
  2,341
  2,505
  2,676
  2,854
  3,039
  3,233
  3,434
  3,644
  3,863
  4,092
  4,330
  4,580
  4,841
  5,113
  5,399
  5,697
  6,010
  6,337
  6,680
  7,039
EBITDA, $m
  1,642
  1,814
  1,994
  2,181
  2,376
  2,579
  2,790
  3,010
  3,238
  3,475
  3,721
  3,978
  4,244
  4,522
  4,811
  5,112
  5,426
  5,753
  6,094
  6,450
  6,822
  7,211
  7,617
  8,041
  8,485
  8,950
  9,436
  9,946
  10,479
  11,037
Interest expense (income), $m
  154
  201
  278
  359
  444
  532
  624
  720
  819
  922
  1,029
  1,141
  1,257
  1,377
  1,503
  1,633
  1,769
  1,910
  2,057
  2,211
  2,371
  2,538
  2,712
  2,894
  3,085
  3,284
  3,492
  3,709
  3,937
  4,175
  4,424
Earnings before tax, $m
  621
  653
  687
  722
  759
  797
  837
  878
  921
  966
  1,200
  1,248
  1,299
  1,351
  1,406
  1,464
  1,524
  1,586
  1,652
  1,721
  1,792
  1,868
  1,946
  2,029
  2,115
  2,206
  2,301
  2,401
  2,505
  2,615
Tax expense, $m
  168
  176
  185
  195
  205
  215
  226
  237
  249
  261
  324
  337
  351
  365
  380
  395
  411
  428
  446
  465
  484
  504
  525
  548
  571
  596
  621
  648
  676
  706
Net income, $m
  453
  477
  501
  527
  554
  582
  611
  641
  672
  705
  876
  911
  948
  987
  1,027
  1,069
  1,112
  1,158
  1,206
  1,256
  1,308
  1,363
  1,421
  1,481
  1,544
  1,610
  1,680
  1,752
  1,829
  1,909

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  19,902
  21,846
  23,876
  25,993
  28,196
  30,489
  32,872
  35,349
  37,923
  40,597
  43,377
  46,268
  49,274
  52,401
  55,657
  59,047
  62,579
  66,261
  70,101
  74,108
  78,291
  82,660
  87,224
  91,995
  96,984
  102,202
  107,662
  113,377
  119,360
  125,626
Adjusted assets (=assets-cash), $m
  19,902
  21,846
  23,876
  25,993
  28,196
  30,489
  32,872
  35,349
  37,923
  40,597
  43,377
  46,268
  49,274
  52,401
  55,657
  59,047
  62,579
  66,261
  70,101
  74,108
  78,291
  82,660
  87,224
  91,995
  96,984
  102,202
  107,662
  113,377
  119,360
  125,626
Revenue / Adjusted assets
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
Average production assets, $m
  7,601
  8,343
  9,119
  9,927
  10,768
  11,644
  12,554
  13,500
  14,483
  15,504
  16,566
  17,670
  18,818
  20,012
  21,256
  22,550
  23,899
  25,306
  26,772
  28,303
  29,900
  31,568
  33,312
  35,134
  37,039
  39,032
  41,117
  43,300
  45,585
  47,978
Working capital, $m
  -6,165
  -6,767
  -7,396
  -8,051
  -8,734
  -9,444
  -10,182
  -10,949
  -11,747
  -12,575
  -13,436
  -14,332
  -15,263
  -16,232
  -17,240
  -18,290
  -19,384
  -20,525
  -21,714
  -22,955
  -24,251
  -25,604
  -27,018
  -28,496
  -30,041
  -31,658
  -33,349
  -35,119
  -36,973
  -38,913
Total debt, $m
  5,152
  6,653
  8,221
  9,854
  11,556
  13,325
  15,165
  17,077
  19,064
  21,129
  23,275
  25,507
  27,827
  30,242
  32,755
  35,372
  38,099
  40,942
  43,906
  47,000
  50,229
  53,601
  57,125
  60,808
  64,659
  68,688
  72,903
  77,315
  81,934
  86,771
Total liabilities, $m
  15,364
  16,865
  18,433
  20,066
  21,768
  23,537
  25,377
  27,289
  29,276
  31,341
  33,487
  35,719
  38,039
  40,454
  42,967
  45,584
  48,311
  51,154
  54,118
  57,212
  60,441
  63,813
  67,337
  71,020
  74,871
  78,900
  83,115
  87,527
  92,146
  96,983
Total equity, $m
  4,538
  4,981
  5,444
  5,926
  6,429
  6,951
  7,495
  8,059
  8,646
  9,256
  9,890
  10,549
  11,234
  11,947
  12,690
  13,463
  14,268
  15,108
  15,983
  16,897
  17,850
  18,846
  19,887
  20,975
  22,112
  23,302
  24,547
  25,850
  27,214
  28,643
Total liabilities and equity, $m
  19,902
  21,846
  23,877
  25,992
  28,197
  30,488
  32,872
  35,348
  37,922
  40,597
  43,377
  46,268
  49,273
  52,401
  55,657
  59,047
  62,579
  66,262
  70,101
  74,109
  78,291
  82,659
  87,224
  91,995
  96,983
  102,202
  107,662
  113,377
  119,360
  125,626
Debt-to-equity ratio
  1.140
  1.340
  1.510
  1.660
  1.800
  1.920
  2.020
  2.120
  2.200
  2.280
  2.350
  2.420
  2.480
  2.530
  2.580
  2.630
  2.670
  2.710
  2.750
  2.780
  2.810
  2.840
  2.870
  2.900
  2.920
  2.950
  2.970
  2.990
  3.010
  3.030
Adjusted equity ratio
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  453
  477
  501
  527
  554
  582
  611
  641
  672
  705
  876
  911
  948
  987
  1,027
  1,069
  1,112
  1,158
  1,206
  1,256
  1,308
  1,363
  1,421
  1,481
  1,544
  1,610
  1,680
  1,752
  1,829
  1,909
Depreciation, amort., depletion, $m
  821
  883
  948
  1,015
  1,085
  1,158
  1,234
  1,313
  1,395
  1,480
  1,381
  1,473
  1,568
  1,668
  1,771
  1,879
  1,992
  2,109
  2,231
  2,359
  2,492
  2,631
  2,776
  2,928
  3,087
  3,253
  3,426
  3,608
  3,799
  3,998
Funds from operations, $m
  1,274
  1,360
  1,449
  1,542
  1,639
  1,740
  1,845
  1,954
  2,067
  2,185
  2,256
  2,384
  2,516
  2,654
  2,798
  2,948
  3,104
  3,267
  3,437
  3,615
  3,800
  3,994
  4,197
  4,409
  4,631
  4,863
  5,106
  5,361
  5,627
  5,907
Change in working capital, $m
  -576
  -602
  -629
  -656
  -683
  -710
  -738
  -767
  -797
  -829
  -861
  -895
  -931
  -969
  -1,008
  -1,050
  -1,094
  -1,141
  -1,190
  -1,241
  -1,296
  -1,353
  -1,414
  -1,478
  -1,545
  -1,616
  -1,691
  -1,770
  -1,853
  -1,941
Cash from operations, $m
  1,850
  1,962
  2,078
  2,198
  2,322
  2,450
  2,583
  2,721
  2,864
  3,013
  3,117
  3,279
  3,447
  3,623
  3,806
  3,998
  4,198
  4,407
  4,627
  4,856
  5,096
  5,347
  5,611
  5,887
  6,176
  6,479
  6,797
  7,131
  7,481
  7,848
Maintenance CAPEX, $m
  -574
  -633
  -695
  -760
  -827
  -897
  -970
  -1,046
  -1,125
  -1,207
  -1,292
  -1,381
  -1,473
  -1,568
  -1,668
  -1,771
  -1,879
  -1,992
  -2,109
  -2,231
  -2,359
  -2,492
  -2,631
  -2,776
  -2,928
  -3,087
  -3,253
  -3,426
  -3,608
  -3,799
New CAPEX, $m
  -712
  -743
  -775
  -808
  -842
  -875
  -910
  -946
  -983
  -1,022
  -1,062
  -1,104
  -1,148
  -1,194
  -1,243
  -1,295
  -1,349
  -1,406
  -1,467
  -1,530
  -1,597
  -1,668
  -1,743
  -1,822
  -1,905
  -1,993
  -2,085
  -2,183
  -2,285
  -2,393
Cash from investing activities, $m
  -1,286
  -1,376
  -1,470
  -1,568
  -1,669
  -1,772
  -1,880
  -1,992
  -2,108
  -2,229
  -2,354
  -2,485
  -2,621
  -2,762
  -2,911
  -3,066
  -3,228
  -3,398
  -3,576
  -3,761
  -3,956
  -4,160
  -4,374
  -4,598
  -4,833
  -5,080
  -5,338
  -5,609
  -5,893
  -6,192
Free cash flow, $m
  564
  586
  607
  630
  653
  677
  702
  729
  756
  785
  764
  795
  827
  860
  895
  932
  970
  1,010
  1,051
  1,094
  1,140
  1,187
  1,237
  1,289
  1,343
  1,400
  1,459
  1,522
  1,587
  1,656
Issuance/(repayment) of debt, $m
  1,435
  1,501
  1,567
  1,634
  1,701
  1,770
  1,840
  1,912
  1,987
  2,065
  2,146
  2,231
  2,321
  2,414
  2,513
  2,617
  2,727
  2,843
  2,965
  3,093
  3,229
  3,373
  3,524
  3,683
  3,851
  4,028
  4,215
  4,412
  4,619
  4,837
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,435
  1,501
  1,567
  1,634
  1,701
  1,770
  1,840
  1,912
  1,987
  2,065
  2,146
  2,231
  2,321
  2,414
  2,513
  2,617
  2,727
  2,843
  2,965
  3,093
  3,229
  3,373
  3,524
  3,683
  3,851
  4,028
  4,215
  4,412
  4,619
  4,837
Total cash flow (excl. dividends), $m
  1,999
  2,087
  2,175
  2,263
  2,354
  2,447
  2,542
  2,641
  2,743
  2,850
  2,910
  3,026
  3,147
  3,275
  3,409
  3,549
  3,697
  3,852
  4,016
  4,188
  4,369
  4,560
  4,760
  4,972
  5,194
  5,428
  5,675
  5,934
  6,207
  6,493
Retained Cash Flow (-), $m
  -434
  -443
  -463
  -483
  -502
  -523
  -543
  -565
  -587
  -610
  -634
  -659
  -685
  -713
  -742
  -773
  -805
  -840
  -876
  -914
  -954
  -996
  -1,041
  -1,088
  -1,137
  -1,190
  -1,245
  -1,303
  -1,364
  -1,429
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,565
  1,644
  1,712
  1,781
  1,852
  1,924
  1,999
  2,076
  2,156
  2,240
  2,276
  2,367
  2,462
  2,562
  2,666
  2,776
  2,891
  3,013
  3,140
  3,274
  3,415
  3,564
  3,720
  3,884
  4,057
  4,239
  4,430
  4,631
  4,842
  5,065
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,501
  1,505
  1,490
  1,466
  1,435
  1,396
  1,350
  1,298
  1,239
  1,174
  1,081
  1,010
  936
  860
  783
  705
  629
  555
  483
  416
  353
  296
  244
  198
  158
  124
  95
  72
  53
  38
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Expedia, Inc. is an online travel company. The Company operates through four segments: Core Online Travel Agencies (Core OTA), trivago, Egencia and HomeAway. The Company's Core OTA segment provides a range of travel and advertising services to its customers across the world, through a range of brands, including Expedia.com and Hotels.com in the United States, and localized Expedia and Hotels.com Websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Wotif Group, CarRentals.com and Classic Vacations. The Company's trivago segment sends referrals to online travel companies and travel service providers from its hotel metasearch Websites. Its Egencia segment, which also includes Orbitz Worldwide (Orbitz) for Business, provides managed travel services to corporate customers across the world. The Company's HomeAway segment operates an online marketplace for the vacation rental industry.

FINANCIAL RATIOS  of  Expedia Group, Inc. (EXPE)

Valuation Ratios
P/E Ratio 61.7
Price to Sales 2
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 11.1
Price to Free Cash Flow 21.3
Growth Rates
Sales Growth Rate 31.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.8%
Cap. Spend. - 3 Yr. Gr. Rate 19.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 76.5%
Total Debt to Equity 76.5%
Interest Coverage 3
Management Effectiveness
Return On Assets 2.7%
Ret/ On Assets - 3 Yr. Avg. 5.1%
Return On Total Capital 3.7%
Ret/ On T. Cap. - 3 Yr. Avg. 9.5%
Return On Equity 6.3%
Return On Equity - 3 Yr. Avg. 16.5%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 81.8%
Gross Margin - 3 Yr. Avg. 80.6%
EBITDA Margin 14%
EBITDA Margin - 3 Yr. Avg. 17.5%
Operating Margin 5.1%
Oper. Margin - 3 Yr. Avg. 9.3%
Pre-Tax Margin 3.2%
Pre-Tax Margin - 3 Yr. Avg. 8.4%
Net Profit Margin 3.2%
Net Profit Margin - 3 Yr. Avg. 7.2%
Effective Tax Rate 5.8%
Eff/ Tax Rate - 3 Yr. Avg. 15.8%
Payout Ratio 53.2%

EXPE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXPE stock intrinsic value calculation we used $11223 million for the last fiscal year's total revenue generated by Expedia Group, Inc.. The default revenue input number comes from 0001 income statement of Expedia Group, Inc.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EXPE stock valuation model: a) initial revenue growth rate of 10.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for EXPE is calculated based on our internal credit rating of Expedia Group, Inc., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Expedia Group, Inc..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EXPE stock the variable cost ratio is equal to 92.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $148 million in the base year in the intrinsic value calculation for EXPE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Expedia Group, Inc..

Corporate tax rate of 27% is the nominal tax rate for Expedia Group, Inc.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EXPE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EXPE are equal to 61.4%.

Life of production assets of 12 years is the average useful life of capital assets used in Expedia Group, Inc. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EXPE is equal to -49.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4104 million for Expedia Group, Inc. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 147.170 million for Expedia Group, Inc. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Expedia Group, Inc. at the current share price and the inputted number of shares is $17.1 billion.

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