Expedia Group Inc. (EXPE)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover	6.13	6.59	3.65	3.64	4.94	4.69	2.88	2.84	3.91	3.74	2.04	2.20	8.01	7.94	3.91	5.76	2.78	4.65	3.26	4.45
Receivables turnover	4.44	4.37	4.09	4.64	5.41	5.57	4.70	5.28	6.21	4.21	2.83	2.60	6.04	7.15	8.04	7.72	4.61	4.28	3.80	4.05
Payables turnover	8.18	8.37	8.49	8.95	9.16	7.36	6.73	7.87	9.62	7.72	6.65	7.68	12.46	11.05	9.88	5.45	2.39	2.16	1.75	1.93
Working capital turnover	—	—	—	—	—	—	—	—	—	—	—	58.76	21.75	6.18	8.32	—	—	—	—	—

The activity ratios for Expedia Group Inc provide insights into the efficiency of the company's operations in managing inventory, receivables, payables, and working capital turnover.

1. Inventory turnover: Information regarding inventory turnover is not provided in the table, suggesting that the company's inventory management efficiency is not directly disclosed in the data.

2. Receivables turnover: The receivables turnover ratio shows a fluctuating trend over the past eight quarters, with values ranging from 4.12 to 5.51. This indicates that Expedia Group is collecting its accounts receivables approximately 4.12 to 5.51 times a year on average.

3. Payables turnover: The payables turnover ratio demonstrates a declining trend from 0.71 in Q1 2022 to 0.50 in Q4 2023. This suggests that the company is taking longer to pay its suppliers over time, with a lower turnover ratio indicating a slower rate of paying off its accounts payable.

4. Working capital turnover: The data does not include the calculation for working capital turnover, making it challenging to evaluate the efficiency of Expedia Group's utilization of working capital to generate revenue.

Overall, the analysis of Expedia Group Inc's activity ratios highlights varying efficiencies in managing receivables and payables, while information on inventory turnover and working capital turnover is not provided for further assessment.

Average number of days

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Days of inventory on hand (DOH)	days	59.51	55.42	100.13	100.22	73.85	77.84	126.93	128.32	93.46	97.53	179.29	165.92	45.58	45.95	93.46	63.39	131.45	78.44	112.13	81.95
Days of sales outstanding (DSO)	days	82.19	83.54	89.25	78.71	67.43	65.50	77.68	69.19	58.81	86.65	129.08	140.17	60.42	51.04	45.41	47.28	79.20	85.19	96.08	90.11
Number of days of payables	days	44.64	43.61	42.97	40.77	39.85	49.56	54.25	46.40	37.96	47.26	54.89	47.54	29.29	33.02	36.93	66.98	152.88	169.34	208.86	189.37

Days of inventory on hand (DOH) is not provided in the data table, so we cannot calculate or interpret this activity ratio for Expedia Group Inc.

Days of sales outstanding (DSO) measures how long it takes for the company to collect its accounts receivable. The trend for DSO over the past eight quarters shows an increase from 66.26 days in Q4 2022 to 88.51 days in Q2 2023, before slightly decreasing to 80.54 days in Q4 2023. This indicates that the company took longer to collect payments from customers in Q2 2023 but managed to improve its collection efficiency in Q4 2023 compared to Q2 2023.

Number of days of payables measures the number of days it takes for a company to pay off its suppliers. Expedia Group Inc has shown fluctuations in this ratio over the past eight quarters, ranging from 513.58 days in Q1 2022 to 723.50 days in Q4 2023. The increasing trend in the days of payables may indicate that the company is taking longer to settle its payables, which could be a strategic decision to manage cash flow or negotiate better payment terms with suppliers.

In conclusion, Expedia Group Inc's DSO and days of payables ratios exhibit varying trends over the quarters, highlighting the importance of efficiently managing accounts receivable and payables to maintain liquidity and working capital stability.

Long-term

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Fixed asset turnover	5.33	5.27	5.25	5.29	5.19	5.28	4.95	4.45	3.84	2.95	2.30	1.63	2.20	2.95	3.87	5.03	5.44	5.63	5.88	6.12
Total asset turnover	0.58	0.55	0.47	0.48	0.53	0.52	0.43	0.39	0.39	0.30	0.22	0.17	0.27	0.34	0.41	0.57	0.56	0.55	0.52	0.53

Expedia Group Inc's fixed asset turnover has shown a positive trend over the past few quarters, indicating the company has been generating more revenue per dollar of fixed assets invested. The increase from 4.43 in Q1 2022 to 5.44 in Q4 2023 suggests improved efficiency in utilizing its fixed assets to generate sales.

In contrast, the total asset turnover has fluctuated over the same period, with a slight decrease from Q4 2022 to Q1 2023 before showing some improvement in subsequent quarters. The ratio of 0.59 in Q4 2023 reflects that Expedia Group Inc generated $0.59 in sales for every dollar of total assets during that quarter.

Overall, the fixed asset turnover indicates efficient management of fixed assets, while the total asset turnover demonstrates the effectiveness of utilizing all assets in generating revenue. These ratios suggest that Expedia Group Inc has been able to effectively leverage its assets to drive sales growth.