Price to FCFE (P/FCFE)
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Expedia Group Inc. pages available for free this week:
- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
- Aggregate Accruals
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Free Cash Flow to Equity (FCFE)
Expedia Group Inc., FCFE calculation
US$ in millions
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).
The financial data reveals significant fluctuations in the company's operating cash flow and free cash flow to equity over the five-year period.
- Net cash provided by (used in) operating activities
- This metric shows an overall upward trend from 2017 to 2019, increasing from 1,799 million USD to 2,767 million USD. However, there was a sharp reversal in 2020, with operating cash flow turning negative to -3,834 million USD. This decline was rectified in 2021, as the company returned to positive operating cash flow of 3,748 million USD, exceeding previous peak levels. This pattern suggests a significant external or internal disruption in 2020, followed by a strong recovery.
- Free cash flow to equity (FCFE)
- Similarly, free cash flow to equity started at 2,078 million USD in 2017 and experienced a steep decline to 597 million USD in 2018. It then surged to 2,838 million USD in 2019. In 2020, FCFE turned negative at -1,436 million USD, mirroring the negative operating cash flow trend. By 2021, FCFE rebounded impressively to 3,075 million USD, surpassing all prior years within the range. This volatility aligns with the company's cash flow from operations and supports the observation of a major disruption in 2020 followed by recovery.
Price to FCFE Ratio, Current
Expedia Group Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Amazon.com Inc. | |
| Home Depot Inc. | |
| Lowe’s Cos. Inc. | |
| TJX Cos. Inc. | |
| P/FCFE, Sector | |
| Consumer Discretionary Distribution & Retail | |
| P/FCFE, Industry | |
| Consumer Discretionary | |
Based on: 10-K (reporting date: 2021-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Expedia Group Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Amazon.com Inc. | ||||||
| Home Depot Inc. | ||||||
| Lowe’s Cos. Inc. | ||||||
| TJX Cos. Inc. | ||||||
| P/FCFE, Sector | ||||||
| Consumer Discretionary Distribution & Retail | ||||||
| P/FCFE, Industry | ||||||
| Consumer Discretionary | ||||||
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 Data adjusted for splits and stock dividends.
3 2021 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Expedia Group Inc. Annual Report.
5 2021 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price demonstrated an overall upward trajectory over the five-year period. Starting at $104 in 2017, it increased to $130.8 in 2018, slightly declined to $122.8 in 2019, then rose significantly to $146.51 in 2020, and reached a peak of $192.12 in 2021. This indicates growing market confidence and value appreciation in the latter years despite minor fluctuations.
- Free Cash Flow to Equity (FCFE) per Share
- FCFE per share exhibited volatility during the period. It began at $13.69 in 2017, dropped considerably to $4.06 in 2018, surged to $20.27 in 2019, then turned negative at -$9.98 in 2020, before rebounding to $19.74 in 2021. The negative value in 2020 suggests cash flow challenges that year, potentially reflecting operational or investment impacts, followed by a recovery in 2021.
- Price to FCFE (P/FCFE) Ratio
- The P/FCFE ratio varied markedly across the years. In 2017, it stood at a moderate 7.6, soared to 32.25 in 2018 indicating a high valuation relative to cash flow, then decreased sharply to 6.06 in 2019. Data is unavailable for 2020, likely due to negative FCFE. In 2021, it resumed at 9.73, reflecting a normalized valuation but still below the peak in 2018.