Expedia Group, Inc. (EXPE)
Expedia Group operates online travel booking brands including Expedia, Hotels.com, and Vrbo.
Consumer Discretionary stock comparison
EXPE vs HLT: how the two businesses compare
- Bigger business: EXPE, with $14.7B of yearly revenue, about 1.2× HLT's $12.0B.
- More profitable: HLT keeps 12 cents of each sales dollar as profit, against 9 cents at EXPE.
- More cash from each sale: EXPE turns 26 cents of each sales dollar into operating cash flow, against 18 cents at HLT.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Expedia (EXPE) is the larger business by reported revenue: $14.7B in its fiscal year ended Dec 2025, about 1.2× HLT's $12.0B (fiscal year ended Dec 2025). EXPE's net margin was 8.8% and HLT's 12.1%. The SEC classifies them differently (Transportation Services; Hotels & Motels); what connects them is shared exposure to the International markets research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Sector
- Consumer Discretionary
- SEC industry
- Different
- Separate classifications
- Fiscal year ends
- December 31
- Same calendar
- Reviewed
- Feb 13, 2026
EXPE vs HLT: quick comparison
| Company fact | EXPE | HLT |
|---|---|---|
| Company | Expedia Group, Inc. | Hilton Worldwide Holdings Inc. |
| Exchange | NASDAQ | NYSE |
| SEC industry | Transportation Services | Hotels & Motels |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-13 | 10-K · 2026-02-11 |
EXPE vs HLT: audited financials
- Scale: EXPE's $14.7B of revenue is about 1.2× HLT's $12.0B.
- Net margin: HLT kept 12.1% of revenue as net income versus 8.8% at EXPE.
- Cash conversion: operating cash flow equalled EXPE 26.3% of revenue, or 2.98× net income; HLT 17.7% of revenue, or 1.46× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | EXPE | HLT |
|---|---|---|
| Revenue | $14.7B2025-01-01 to 2025-12-31 · SEC filing | $12.0B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $1.3B2025-01-01 to 2025-12-31 · SEC filing | $1.5B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $3.9B2025-01-01 to 2025-12-31 · SEC filing | $2.1B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $9.812025-01-01 to 2025-12-31 · SEC filing | $6.122025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 8.8%2025-01-01 to 2025-12-31 · SEC filing | 12.1%2025-01-01 to 2025-12-31 · SEC filing |
EXPE: FY ending 2025-12-31 · HLT: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where EXPE and HLT overlap, and where they don't
Overlap
- Shared research theme: International markets.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: EXPE files as Transportation Services; HLT as Hotels & Motels.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Hilton Worldwide Holdings Inc. (HLT)
Hilton operates and franchises a worldwide network of hotels and resorts across multiple lodging brands.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves EXPE
We have not yet published a company-specific driver list for EXPE. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-13.
What moves HLT
We have not yet published a company-specific driver list for HLT. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-11.
The investment question
You now know EXPE reports about 1.2× HLT's revenue, and HLT keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to international markets, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 1 matched transaction row for EXPE and 6 matched transaction rows for HLT. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
EXPE primary filings
HLT primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
EXPE vs HLT FAQs
Are EXPE and HLT direct competitors?
Not necessarily. Expedia files as Transportation Services and Hilton Worldwide as Hotels & Motels. The pair is compared because both map to the International markets research theme, not because the filings show head-to-head competition.
Is EXPE or HLT the bigger company by revenue?
Expedia (EXPE) is the larger business by reported revenue: $14.7B in its fiscal year ended Dec 2025, about 1.2× HLT's $12.0B (fiscal year ended Dec 2025). EXPE's net margin was 8.8% and HLT's 12.1%. The SEC classifies them differently (Transportation Services; Hotels & Motels); what connects them is shared exposure to the International markets research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, EXPE or HLT?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this EXPE vs HLT comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Expedia Group, Inc. and Hilton Worldwide Holdings Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-03. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-03. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
EXPE vs HLT compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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