Booking Holdings vs Expedia Group (BKNG vs EXPE)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Booking Holdings is the larger company by revenue ($26.9B vs $14.7B) and market value ($147.0B vs $36.5B). Booking Holdings has grown revenue faster over the last 4 fiscal years (+145.6% cumulative vs +71.4%). Booking Holdings runs the higher operating margin (32.8% vs 12.7%). Expedia Group trades at the lower trailing P/E (19.1x vs 21.7x).
About Booking Holdings
Booking Holdings Inc. operates online travel and restaurant reservation services through its brands Booking.com, Priceline, Agoda, KAYAK, and OpenTable. The company offers accommodations, flights, ground transportation, activities, and restaurant reservations to consumers worldwide. It serves travelers by facilitating bookings and payments with travel service providers and restaurants, primarily through its online platforms.
Head to head (BKNG FY2025 vs EXPE FY2025)
| Metric | BKNGFY2025 | EXPEFY2025 |
|---|---|---|
| Revenue | $26.92B | $14.73B |
| Revenue growth (YoY) | 13.4% | 7.6% |
| Gross margin | — | — |
| Operating margin | 32.8% | 12.7% |
| Net margin | 20.1% | 8.8% |
| Net income | $5.40B | $1.29B |
| Diluted EPS | $165.57 | $9.81 |
| FCF margin | 33.8% | 21.1% |
| ROE | — | 50.8% |
| Long-term debt / equity | — | 1.75× |
| Market cap | $147.04B | $36.51B |
| P/E | 21.7× | 19.1× |
Fundamentals are from each company’s SEC filings (BKNG FY2025, EXPE FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| BKNG | $10.96B | $17.09B | $21.36B | $23.74B | $26.92B |
| EXPE | $8.60B | $11.67B | $12.84B | $13.69B | $14.73B |
Peer standing
Where each company ranks among the 403 Consumer Discretionary companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | BKNG | EXPE |
|---|---|---|
| Operating margin | 32.8%99th percentile of 348 | 12.7%82nd percentile of 348 |
| Net margin | 20.1%97th percentile of 377 | 8.8%77th percentile of 377 |
| FCF margin | 33.8%99th percentile of 351 | 21.1%97th percentile of 351 |
| Revenue growth (YoY) | +13.4%83rd percentile of 394 | +7.6%67th percentile of 394 |
| P/E | 21.7×63rd percentile of 249 | 19.1×51st percentile of 249 |
| Short interest (days to cover) | 3.55d45th percentile of 401 | 3.16d40th percentile of 401 |
Short interest
| FINRA settlement data | BKNG | EXPE |
|---|---|---|
| Shares sold short | 21.2M | 5.6M |
| Change vs prior settlement | -10.3% | -29.0% |
| Days to cover | 3.55 | 3.16 |
| As of settlement | 2026-08-14 | 2026-08-14 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | BKNG | EXPE |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 19 ($16.7M) | 6 ($5.0M) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
7 tracked 13F managers hold both Booking Holdings and Expedia Group as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.