Expedia Group, Inc. — Earnings Quality Grade F
EXPE · Consumer Cyclical
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 18 days (86 → 103)
AR outpaced revenue for 2 consecutive years
Revenue 7.6%, CFFO 25.8%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 1.9% vs revenue 7.6%. Normal
SG&A/Gross Profit = 67.4%. Normal
Gross margin 90.1%, change +0.7pp. Stable
Cash Flow Quality
CFFO/NI = 3.00. Profits backed by cash
FCF $3.1B, FCF/NI = 2.40
Accruals ratio = -10.6%. Low accruals
Cash $5.7B covers 89% of debt $6.4B
Balance Sheet Health
Goodwill+Intangibles $7.7B = 599% of equity. Over 50%
Debt/EBITDA = 2.3x. Healthy
Other assets -18.3% vs revenue 7.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.78 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10