Analysis of Reportable Segments
Expedia Group Inc. operates in 3 segments: Retail; B2B; and trivago.
Segment Profit Margin
Expedia Group Inc., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Retail | 26.13% | 6.36% | 24.08% | 24.89% | — |
| B2B | 7.53% | -22.08% | 17.33% | 15.91% | — |
| trivago | 9.22% | -5.00% | 9.06% | 1.48% | — |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Retail | Retail segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| B2B | B2B segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. | |
| trivago | trivago segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: Retail
Expedia Group Inc.; Retail; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted EBITDA | 1,782) | 254) | 2,121) | 2,088) | —) |
| Revenue | 6,821) | 3,993) | 8,808) | 8,389) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 26.13% | 6.36% | 24.08% | 24.89% | — |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Revenue
= 100 × 1,782 ÷ 6,821 = 26.13%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Retail | Retail segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: B2B
Expedia Group Inc.; B2B; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted EBITDA | 110) | (208) | 447) | 341) | —) |
| Revenue | 1,460) | 942) | 2,579) | 2,143) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 7.53% | -22.08% | 17.33% | 15.91% | — |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Revenue
= 100 × 110 ÷ 1,460 = 7.53%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | B2B | B2B segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Profit Margin: trivago
Expedia Group Inc.; trivago; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted EBITDA | 39) | (14) | 85) | 16) | —) |
| Revenue | 423) | 280) | 938) | 1,084) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 9.22% | -5.00% | 9.06% | 1.48% | — |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Revenue
= 100 × 39 ÷ 423 = 9.22%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | trivago | trivago segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Revenue
Expedia Group Inc., revenue by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Retail | 6,821) | 3,993) | 8,808) | 8,389) | —) |
| B2B | 1,460) | 942) | 2,579) | 2,143) | —) |
| trivago | 423) | 280) | 938) | 1,084) | —) |
| Corporate & eliminations | (106) | (16) | (258) | (393) | —) |
| Total | 8,598) | 5,199) | 12,067) | 11,223) | —) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Adjusted EBITDA
Expedia Group Inc., adjusted ebitda by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Retail | 1,782) | 254) | 2,121) | 2,088) | —) |
| B2B | 110) | (208) | 447) | 341) | —) |
| trivago | 39) | (14) | 85) | 16) | —) |
| Corporate & eliminations | (454) | (400) | (519) | (475) | —) |
| Total | 1,477) | (368) | 2,134) | 1,970) | —) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).