Expedia Group Inc. (EXPE)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	6,253,000	6,240,000	7,715,000	8,216,000	4,189,000
Total stockholders’ equity	US$ in thousands	1,534,000	2,283,000	2,057,000	1,510,000	3,967,000
Debt-to-capital ratio		0.80	0.73	0.79	0.84	0.51

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $6,253,000K ÷ ($6,253,000K + $1,534,000K)
= 0.80

The debt-to-capital ratio of Expedia Group Inc has shown fluctuations over the past five years. As of December 31, 2023, the ratio stands at 0.80, indicating that 80% of the company's capital structure is funded by debt. Comparing this to previous years, we observe a decreasing trend from 2020 to 2022, followed by a slight increase in 2023.

The significant peak in 2020, with a ratio of 0.86, suggests high leverage at that time. However, the ratio dropped to 0.55 in 2019, indicating a more conservative capital structure with less reliance on debt financing.

Overall, the recent ratio of 0.80 implies that Expedia Group Inc retains a substantial portion of debt in its capital structure, which could potentially indicate higher risk due to increased financial leverage. It would be essential for stakeholders to monitor the company's debt management strategies and financial health closely in light of these variations in the debt-to-capital ratio.