Expedia Group Inc. (EXPE)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	5,223,000	6,253,000	6,240,000	7,715,000	8,216,000
Total stockholders’ equity	US$ in thousands	1,557,000	1,534,000	2,283,000	2,057,000	1,510,000
Debt-to-capital ratio		0.77	0.80	0.73	0.79	0.84

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $5,223,000K ÷ ($5,223,000K + $1,557,000K)
= 0.77

The debt-to-capital ratio of Expedia Group Inc. has shown a decreasing trend over the past five years, indicating a gradual improvement in the company's leverage position. As of December 31, 2020, the ratio stood at 0.84, reflecting that 84% of the company's capital structure was financed through debt.

By December 31, 2024, the ratio had decreased to 0.77, implying that 77% of the capital structure was funded by debt. This downward trend suggests that Expedia Group Inc. has been reducing its reliance on debt financing relative to its total capital, potentially enhancing its financial stability and flexibility.

Overall, the declining debt-to-capital ratio indicates a positive shift towards a more balanced and sustainable capital structure for Expedia Group Inc.