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Side-by-side financial comparison of Expedia Group (EXPE) and Hilton Worldwide (HLT), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Expedia Group is the larger business by last-quarter revenue ($3.5B vs $3.1B, roughly 1.1× Hilton Worldwide). Hilton Worldwide runs the higher net margin — 5.8% vs 9.6%, a 3.8% gap on every dollar of revenue. On growth, Expedia Group posted the faster year-over-year revenue change (18.7% vs 10.9%). Over the past eight quarters, Hilton Worldwide's revenue compounded faster (9.5% CAGR vs -0.2%).
Expedia Inc. is an online travel agency owned by Expedia Group, based in Seattle. The website and mobile app can be used to book airline tickets, hotel reservations, car rentals, cruise ships, activities and vacation rentals. Expedia.com was launched on October 22, 1996 by Microsoft.
Hilton Worldwide Holdings Inc. is an American multinational hospitality company that manages and franchises a broad portfolio of hotels, resorts, and timeshare properties. Founded by Conrad Hilton in May 1919, the company is now led by Christopher J. Nassetta. Hilton is headquartered in Tysons, Virginia, United States.
EXPE vs HLT — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.5B | $3.1B |
| Net Profit | $205.0M | $297.0M |
| Gross Margin | — | — |
| Operating Margin | 11.8% | 19.5% |
| Net Margin | 5.8% | 9.6% |
| Revenue YoY | 18.7% | 10.9% |
| Net Profit YoY | 202.5% | -41.2% |
| EPS (diluted) | $1.56 | $1.27 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $3.1B | ||
| Q3 25 | $4.4B | $3.1B | ||
| Q2 25 | $3.8B | $3.1B | ||
| Q1 25 | $3.0B | $2.7B | ||
| Q4 24 | $3.2B | $2.8B | ||
| Q3 24 | $4.1B | $2.9B | ||
| Q2 24 | $3.6B | $3.0B |
| Q1 26 | $205.0M | — | ||
| Q4 25 | $205.0M | $297.0M | ||
| Q3 25 | $959.0M | $420.0M | ||
| Q2 25 | $330.0M | $440.0M | ||
| Q1 25 | $-200.0M | $300.0M | ||
| Q4 24 | $299.0M | $505.0M | ||
| Q3 24 | $684.0M | $344.0M | ||
| Q2 24 | $386.0M | $421.0M |
| Q1 26 | 11.8% | — | ||
| Q4 25 | 11.8% | 19.5% | ||
| Q3 25 | 23.5% | 24.9% | ||
| Q2 25 | 12.8% | 24.8% | ||
| Q1 25 | -2.3% | 19.9% | ||
| Q4 24 | 6.8% | 17.6% | ||
| Q3 24 | 18.8% | 21.7% | ||
| Q2 24 | 12.7% | 24.6% |
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.8% | 9.6% | ||
| Q3 25 | 21.7% | 13.5% | ||
| Q2 25 | 8.7% | 14.0% | ||
| Q1 25 | -6.7% | 11.1% | ||
| Q4 24 | 9.4% | 18.1% | ||
| Q3 24 | 16.8% | 12.0% | ||
| Q2 24 | 10.8% | 14.3% |
| Q1 26 | $1.56 | — | ||
| Q4 25 | $1.56 | $1.27 | ||
| Q3 25 | $7.33 | $1.78 | ||
| Q2 25 | $2.48 | $1.84 | ||
| Q1 25 | $-1.56 | $1.23 | ||
| Q4 24 | $2.10 | $2.05 | ||
| Q3 24 | $5.04 | $1.38 | ||
| Q2 24 | $2.80 | $1.67 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.7B | $918.0M |
| Total DebtLower is stronger | $6.2B | $12.3B |
| Stockholders' EquityBook value | $1.3B | $-5.4B |
| Total Assets | $24.5B | $16.8B |
| Debt / EquityLower = less leverage | 4.80× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.7B | $918.0M | ||
| Q3 25 | $6.2B | $1.1B | ||
| Q2 25 | $6.7B | $371.0M | ||
| Q1 25 | $6.1B | $731.0M | ||
| Q4 24 | $4.5B | $1.3B | ||
| Q3 24 | $4.9B | $1.6B | ||
| Q2 24 | $6.3B | $731.0M |
| Q1 26 | $6.2B | — | ||
| Q4 25 | $6.2B | $12.3B | ||
| Q3 25 | $6.2B | $11.6B | ||
| Q2 25 | $6.2B | $10.9B | ||
| Q1 25 | $6.2B | $10.6B | ||
| Q4 24 | $6.3B | $10.6B | ||
| Q3 24 | $6.3B | $10.6B | ||
| Q2 24 | $6.3B | $9.6B |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $-5.4B | ||
| Q3 25 | $1.3B | $-4.9B | ||
| Q2 25 | $836.0M | $-4.6B | ||
| Q1 25 | $1.1B | $-4.4B | ||
| Q4 24 | $1.6B | $-3.7B | ||
| Q3 24 | $1.3B | $-3.5B | ||
| Q2 24 | $889.0M | $-3.1B |
| Q1 26 | $24.5B | — | ||
| Q4 25 | $24.5B | $16.8B | ||
| Q3 25 | $25.1B | $16.6B | ||
| Q2 25 | $27.0B | $15.9B | ||
| Q1 25 | $26.1B | $16.0B | ||
| Q4 24 | $22.4B | $16.5B | ||
| Q3 24 | $23.4B | $16.7B | ||
| Q2 24 | $25.9B | $15.7B |
| Q1 26 | 4.80× | — | ||
| Q4 25 | 4.80× | — | ||
| Q3 25 | 4.65× | — | ||
| Q2 25 | 7.43× | — | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 4.02× | — | ||
| Q3 24 | 4.74× | — | ||
| Q2 24 | 7.04× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $203.0M |
| Free Cash FlowOCF − Capex | — | $173.0M |
| FCF MarginFCF / Revenue | — | 5.6% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | 1.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 0.68× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.0B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | — | — | ||
| Q4 25 | $304.0M | $203.0M | ||
| Q3 25 | $-497.0M | $816.0M | ||
| Q2 25 | $1.1B | $658.0M | ||
| Q1 25 | $3.0B | $452.0M | ||
| Q4 24 | $198.0M | $582.0M | ||
| Q3 24 | $-1.5B | $664.0M | ||
| Q2 24 | $1.5B | $421.0M |
| Q1 26 | — | — | ||
| Q4 25 | $119.0M | $173.0M | ||
| Q3 25 | $-686.0M | $787.0M | ||
| Q2 25 | $921.0M | $635.0M | ||
| Q1 25 | $2.8B | $433.0M | ||
| Q4 24 | $7.0M | $534.0M | ||
| Q3 24 | $-1.7B | $647.0M | ||
| Q2 24 | $1.3B | $406.0M |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 5.6% | ||
| Q3 25 | -15.5% | 25.2% | ||
| Q2 25 | 24.3% | 20.2% | ||
| Q1 25 | 92.2% | 16.1% | ||
| Q4 24 | 0.2% | 19.2% | ||
| Q3 24 | -41.6% | 22.6% | ||
| Q2 24 | 36.7% | 13.8% |
| Q1 26 | — | — | ||
| Q4 25 | 5.2% | 1.0% | ||
| Q3 25 | 4.3% | 0.9% | ||
| Q2 25 | 5.3% | 0.7% | ||
| Q1 25 | 6.6% | 0.7% | ||
| Q4 24 | 6.0% | 1.7% | ||
| Q3 24 | 4.8% | 0.6% | ||
| Q2 24 | 5.5% | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.68× | ||
| Q3 25 | -0.52× | 1.94× | ||
| Q2 25 | 3.40× | 1.50× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | 0.66× | 1.15× | ||
| Q3 24 | -2.18× | 1.93× | ||
| Q2 24 | 3.89× | 1.00× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
EXPE
Segment breakdown not available.
HLT
| Reimbursement Revenue | $1.8B | 59% |
| Franchiseandlicensingfees | $671.0M | 22% |
| Ownership | $345.0M | 11% |
| Management Service Incentive | $101.0M | 3% |
| Management Service Base | $98.0M | 3% |
| Hotel Other | $65.0M | 2% |
