TripAdvisor (TRIP) Financials

$9.60 -0.03 (-0.31%)

Closing price 05/14/2026 04:00 PM Eastern

Extended Trading

$9.50 -0.10 (-1.04%)

As of 05:56 AM Eastern

Annual Income Statements for TripAdvisor

This table shows TripAdvisor's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	198	120	-19	113	126	-289	-148	20	10	5.00	40
Consolidated Net Income / (Loss)	198	120	-19	113	126	-289	-148	20	10	5.00	40
Net Income / (Loss) Continuing Operations	198	120	-19	113	126	-289	-148	20	10	5.00	40
Total Pre-Tax Income	239	151	110	173	194	-369	-185	67	125	87	45
Total Operating Income	232	166	124	183	187	-329	-131	101	126	92	80
Total Gross Profit	1,434	1,409	1,484	1,529	1,466	549	828	911	1,099	1,109	1,173
Total Revenue	1,492	1,480	1,556	1,615	1,560	604	902	1,492	1,788	1,835	1,891
Operating Revenue	1,492	1,480	1,556	1,615	1,560	604	902	1,492	1,788	1,835	1,891
Total Cost of Revenue	58	71	72	86	94	55	74	581	689	726	718
Operating Cost of Revenue	58	71	72	86	94	55	74	581	689	726	718
Total Operating Expenses	1,202	1,243	1,360	1,346	1,279	878	959	810	973	1,017	1,093
Selling, General & Admin Expense	210	143	157	177	187	173	167	74	79	91	68
Marketing Expense	692	756	849	778	672	316	469	576	705	729	791
Depreciation Expense	57	69	79	116	126	125	111	97	87	85	92
Other Operating Expenses / (Income)	207	243	243	275	293	220	212	63	80	91	99
Restructuring Charge	-	-	-	0.00	1.00	41	0.00	0.00	22	21	43
Total Other Income / (Expense), net	7.00	-15	-14	-10	7.00	-40	-54	-34	-1.00	-5.00	-35
Interest Expense	10	12	15	12	7.00	35	45	44	44	46	63
Interest & Investment Income	-	-	1.00	7.00	17	3.00	1.00	15	47	48	40
Other Income / (Expense), net	17	-3.00	-	-5.00	-3.00	-8.00	-10	-5.00	-4.00	-7.00	-12
Income Tax Expense	41	31	129	60	68	-80	-37	47	115	82	5.00
Basic Earnings per Share	$1.38	$0.83	($0.14)	$0.82	$0.91	($2.14)	($1.08)	$0.14	$0.07	$0.04	$0.32
Weighted Average Basic Shares Outstanding	143.84M	145.44M	140M	138.12M	138.98M	134.86M	137.23M	139.92M	139.41M	139.08M	124.52M
Diluted Earnings per Share	$1.36	$0.82	($0.14)	$0.81	$0.89	($2.14)	($1.08)	$0.14	$0.08	$0.04	$0.31
Weighted Average Diluted Shares Outstanding	145.97M	146.89M	140M	140.38M	140.66M	134.86M	137.23M	145.67M	144.82M	145.04M	130.95M
Weighted Average Basic & Diluted Shares Outstanding	143.50M	144.60M	135.70M	137.80M	136.09M	134.83M	138.67M	140.96M	137.90M	140.38M	114.76M
Cash Dividends to Common per Share	$0.00	$0.00	$0.00	$0.00	$3.50	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00

This table shows TripAdvisor's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	27	32	-59	24	39	1.00	-11	36	53	-38	-32
Consolidated Net Income / (Loss)	27	32	-59	24	39	1.00	-11	36	53	-38	-32
Net Income / (Loss) Continuing Operations	27	32	-59	24	39	1.00	-11	36	53	-38	-32
Total Pre-Tax Income	64	32	-16	38	66	-1.00	-20	47	63	-45	-32
Total Operating Income	64	32	-15	36	70	1.00	-16	59	70	-34	-25
Total Gross Profit	490	-186	221	304	345	-187	228	338	365	243	220
Total Revenue	533	390	395	497	532	411	398	529	553	411	382
Operating Revenue	533	390	395	497	532	411	398	529	553	411	382
Total Cost of Revenue	43	576	174	193	187	598	171	191	188	168	162
Operating Cost of Revenue	43	576	174	193	187	598	171	191	188	168	162
Total Operating Expenses	426	-218	236	268	275	-188	243	279	295	277	245
Selling, General & Admin Expense	49	-65	29	21	21	-72	17	13	18	20	15
Marketing Expense	272	-56	162	204	211	-26	172	218	227	174	178
Depreciation Expense	21	24	22	21	21	21	21	23	24	24	25
Other Operating Expenses / (Income)	66	-125	22	22	23	-133	23	25	26	26	25
Restructuring Charge	18	-	1.00	0.00	-1.00	-	10	0.00	0.00	33	3.30
Total Other Income / (Expense), net	0.00	-	-1.00	2.00	-4.00	-2.00	-4.80	-12	-7.00	-11	-6.40
Interest Expense	11	11	11	11	13	11	12	17	17	17	16
Interest & Investment Income	13	11	13	13	13	9.00	10	10	10	10	7.90
Other Income / (Expense), net	-2.00	-	-3.00	0.00	-4.00	-	-3.10	-5.00	0.00	-4.00	1.40
Income Tax Expense	37	-	43	14	27	-2.00	-9.30	11	10	-7.00	0.80
Basic Earnings per Share	$0.20	$0.22	($0.43)	$0.17	$0.28	$0.02	($0.08)	$0.29	$0.46	($0.35)	($0.28)
Weighted Average Basic Shares Outstanding	138.19M	139.41M	138.44M	139.23M	138.92M	139.08M	140.97M	124.95M	116.44M	124.52M	115.43M
Diluted Earnings per Share	$0.19	$0.24	($0.43)	$0.17	$0.27	$0.03	($0.08)	$0.28	$0.43	($0.32)	($0.28)
Weighted Average Diluted Shares Outstanding	143.29M	144.82M	138.44M	145.22M	144.19M	145.04M	140.97M	130.24M	123.72M	130.95M	115.43M
Weighted Average Basic & Diluted Shares Outstanding	138.51M	137.90M	139.28M	138.64M	139.34M	140.38M	118.09M	116.13M	116.91M	114.76M	116.36M

This table details how cash moves in and out of TripAdvisor's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	159	-94	183	-2.00	-332	91	317	321	45	8.00	-36
Net Cash From Operating Activities	418	321	238	405	424	-194	108	400	235	144	245
Net Cash From Continuing Operating Activities	418	321	238	405	424	-194	108	400	235	144	245
Net Income / (Loss) Continuing Operations	198	120	-19	113	126	-289	-148	20	10	5.00	40
Consolidated Net Income / (Loss)	198	120	-19	113	126	-289	-148	20	10	5.00	40
Depreciation Expense	57	69	79	116	126	125	111	97	87	85	92
Non-Cash Adjustments To Reconcile Net Income	91	85	96	122	132	146	142	101	111	137	134
Changes in Operating Assets and Liabilities, net	36	15	50	56	40	-176	3.00	182	27	-83	-21
Net Cash From Investing Activities	-58	-163	6.00	-49	-176	-56	-54	-52	-63	-73	-84
Net Cash From Continuing Investing Activities	-58	-163	6.00	-49	-176	-56	-54	-52	-63	-73	-84
Purchase of Property, Plant & Equipment	-109	-72	-64	-61	-83	-55	-54	-56	-63	-74	-82
Other Investing Activities, net	2.00	2.00	-	-12	0.00	3.00	0.00	4.00	0.00	1.00	-2.00
Net Cash From Financing Activities	-180	-143	-200	-358	-580	341	263	-27	-127	-63	-197
Net Cash From Continuing Financing Activities	-189	-252	-61	-358	-580	341	263	-27	-127	-63	-197
Repayment of Debt	-	-421	-665	-245	0.00	-707	0.00	0.00	-3.00	-502	-9.00
Repurchase of Common Equity	-	-105	-250	-100	-60	-125	0.00	0.00	-100	-25	-501
Issuance of Debt	143	282	868	7.00	0.00	1,200	340	0.00	0.00	493	341
Other Financing Activities, net	73	-15	-17	-26	-34	-27	-85	-27	-24	-29	-28
Cash Interest Paid	7.00	10	13	8.00	6.00	13	43	40	39	58	59
Cash Income Taxes Paid	43	29	62	53	47	3.00	5.00	-40	140	170	29

This table details how cash moves in and out of TripAdvisor's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-6.00	-65	111	5.00	-75	-33	80	48	18	-182	92
Net Cash From Operating Activities	14	-19	139	51	-43	-3.00	102	202	44	-103	118
Net Cash From Continuing Operating Activities	14	-19	139	51	-43	-3.00	102	202	44	-103	118
Net Income / (Loss) Continuing Operations	27	32	-59	24	39	1.00	-11	36	53	-38	-32
Consolidated Net Income / (Loss)	27	32	-59	24	39	1.00	-11	36	53	-38	-32
Depreciation Expense	21	24	22	20	21	22	21	23	24	24	25
Non-Cash Adjustments To Reconcile Net Income	29	31	34	35	38	30	35	38	31	30	23
Changes in Operating Assets and Liabilities, net	-63	-106	142	-28	-141	-56	57	105	-64	-119	102
Net Cash From Investing Activities	-16	-16	-16	-15	-20	-22	-19	-27	-19	-19	-17
Net Cash From Continuing Investing Activities	-16	-16	-16	-15	-20	-22	-19	-27	-19	-19	-17
Purchase of Property, Plant & Equipment	-16	-16	-16	-15	-20	-23	-19	-25	-19	-19	-17
Net Cash From Financing Activities	-4.00	-30	-12	-31	-12	-8.00	-2.30	-127	-7.00	-60	-9.50
Net Cash From Continuing Financing Activities	-4.00	-30	-12	-31	-12	-8.00	-2.30	-127	-7.00	-60	-9.50
Repayment of Debt	-	-	0.00	-	-501	-1.00	-2.10	-2.00	-2.00	-3.00	-2.10
Issuance of Debt	-	-	0.00	-	-	-	341	-	-	-	0.00
Other Financing Activities, net	-4.00	-5.00	-12	-6.00	-4.00	-7.00	-342	326	-5.00	-7.00	-7.40
Cash Interest Paid	18	1.00	18	2.00	28	10	11	17	16	16	14

This table presents TripAdvisor's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,128	2,238	2,272	2,167	1,984	1,969	2,289	2,569	2,537	2,561	2,625
Total Current Assets	865	950	993	915	533	573	940	1,270	1,297	1,320	1,291
Cash & Equivalents	614	612	673	655	319	418	723	1,021	1,067	1,064	1,035
Accounts Receivable	180	189	230	212	-	83	-	205	192	207	209
Prepaid Expenses	24	31	25	33	27	22	26	44	38	49	47
Plant, Property, & Equipment, net	247	260	263	253	270	240	215	194	191	200	210
Total Noncurrent Assets	1,016	1,028	1,016	999	1,181	1,156	1,134	1,105	1,049	1,041	1,124
Long-Term Investments	37	16	27	12	55	40	36	34	32	30	28
Goodwill	732	736	758	756	840	862	843	822	829	814	844
Intangible Assets	176	167	142	118	110	86	65	51	43	36	33
Noncurrent Deferred & Refundable Income Taxes	25	42	16	27	7.00	10	54	78	86	101	137
Other Noncurrent Operating Assets	46	67	73	86	169	158	136	120	59	60	82
Total Liabilities & Shareholders' Equity	2,128	2,238	2,272	2,167	1,984	1,969	2,289	2,569	2,537	2,561	2,625
Total Liabilities	716	736	909	696	823	1,083	1,500	1,708	1,666	1,618	1,981
Total Current Liabilities	312	423	372	393	435	242	357	533	572	628	998
Short-Term Debt	1.00	80	-	-	-	-	-	-	0.00	5.00	353
Accounts Payable	10	14	8.00	15	11	18	27	39	28	49	23
Accrued Expenses	123	127	148	151	203	160	181	247	252	249	249
Current Deferred Revenue	169	192	60	63	62	28	36	44	49	47	53
Current Deferred & Payable Income Tax Liabilities	9.00	10	-	-	-	-	-	-	6.00	23	12
Other Current Liabilities	-	-	156	164	159	36	113	203	237	255	308
Total Noncurrent Liabilities	404	313	537	303	388	841	1,143	1,175	1,094	990	982
Long-Term Debt	200	91	230	-	0.00	491	833	836	839	831	819
Capital Lease Obligations	-	-	-	-	78	71	65	73	51	43	36
Noncurrent Deferred & Payable Income Tax Liabilities	15	12	14	21	8.00	10	1.00	1.00	1.00	1.00	1.10
Other Noncurrent Operating Liabilities	189	210	293	282	302	269	244	265	203	115	126
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,412	1,502	1,363	1,471	1,161	886	789	861	871	943	645
Total Preferred & Common Equity	1,412	1,502	1,363	1,471	1,161	886	789	861	871	943	645
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,412	1,502	1,363	1,471	1,161	886	789	861	871	943	645
Common Stock	741	831	926	1,037	1,150	1,253	1,326	1,404	1,493	1,605	460
Retained Earnings	826	945	926	1,043	681	389	241	261	271	276	317
Treasury Stock	-92	-197	-447	-547	-607	-722	-722	-722	-822	-847	-90
Accumulated Other Comprehensive Income / (Loss)	-63	-77	-42	-62	-63	-34	-56	-82	-71	-91	-42

This table presents TripAdvisor's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,565	2,684	2,734	2,636	2,738	2,779	2,733	2,756	2,867	2,845	2,726
Total Current Assets	1,309	1,439	1,478	1,401	1,511	1,539	1,463	1,484	1,547	1,524	1,407
Cash & Equivalents	1,066	1,132	1,141	1,124	1,171	1,176	1,112	1,154	1,212	1,218	1,120
Accounts Receivable	205	210	240	234	248	253	243	263	284	258	225
Prepaid Expenses	38	49	46	43	48	65	62	67	51	48	61
Plant, Property, & Equipment, net	195	194	194	193	189	189	197	204	214	213	204
Total Noncurrent Assets	1,061	1,051	1,062	1,042	1,038	1,051	1,073	1,068	1,106	1,108	1,114
Long-Term Investments	34	33	33	32	32	31	31	30	29	28	28
Goodwill	803	825	824	817	822	822	834	825	843	843	840
Intangible Assets	55	49	47	45	40	39	37	35	35	34	33
Noncurrent Deferred & Refundable Income Taxes	51	70	87	86	78	95	110	100	116	123	135
Other Noncurrent Operating Assets	118	74	71	62	66	64	61	78	83	80	79
Total Liabilities & Shareholders' Equity	2,565	2,684	2,734	2,636	2,738	2,779	2,733	2,756	2,867	2,845	2,726
Total Liabilities	1,752	1,876	1,953	1,813	1,913	1,922	1,789	2,113	2,240	2,138	2,102
Total Current Liabilities	573	763	854	719	892	916	792	783	1,249	1,150	1,126
Short-Term Debt	-	-	-	-	-	-	5.00	9.00	353	353	354
Accounts Payable	67	34	47	70	60	39	75	61	80	65	62
Accrued Expenses	215	211	259	230	236	304	251	241	237	247	213
Current Deferred Revenue	51	81	87	64	82	86	61	82	85	65	86
Current Deferred & Payable Income Tax Liabilities	-	126	26	26	161	43	52	25	21	27	6.30
Other Current Liabilities	240	311	435	329	353	444	348	365	473	393	406
Total Noncurrent Liabilities	1,179	1,113	1,099	1,094	1,021	1,006	997	1,330	991	988	976
Long-Term Debt	836	837	838	839	840	841	832	1,167	822	821	818
Capital Lease Obligations	60	56	55	53	49	47	46	42	40	38	34
Noncurrent Deferred & Payable Income Tax Liabilities	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.10
Other Noncurrent Operating Liabilities	282	219	205	201	131	117	118	120	128	128	124
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	813	808	781	823	825	857	944	643	627	707	624
Total Preferred & Common Equity	813	808	781	823	825	857	944	643	627	707	624
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	813	808	781	823	825	857	944	643	627	707	624
Common Stock	1,380	1,420	1,445	1,470	1,513	1,546	1,577	1,627	412	440	478
Retained Earnings	263	188	212	239	212	236	275	265	301	354	284
Treasury Stock	-722	-722	-797	-797	-822	-847	-847	-847	-40	-40	-90
Accumulated Other Comprehensive Income / (Loss)	-108	-78	-79	-89	-78	-78	-61	-75	-46	-47	-49

This table displays calculated financial ratios and metrics derived from TripAdvisor's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.74%	-0.80%	5.14%	3.79%	-3.41%	-61.28%	49.34%	65.41%	19.84%	2.63%	3.05%
EBITDA Growth	-13.64%	-22.81%	-10.98%	25.11%	5.44%	-168.39%	85.85%	743.33%	8.29%	-18.66%	-5.88%
EBIT Growth	-24.77%	-34.54%	-23.93%	43.55%	3.37%	-283.15%	58.16%	168.09%	27.08%	-30.33%	-20.00%
NOPAT Growth	-19.46%	-31.36%	-116.24%	658.09%	1.61%	-289.62%	60.18%	132.88%	-66.57%	-47.55%	1,244.93%
Net Income Growth	-12.39%	-39.39%	-115.83%	694.74%	11.50%	-329.37%	48.79%	113.51%	-50.00%	-50.00%	700.00%
EPS Growth	-12.26%	-39.71%	-117.07%	678.57%	9.88%	-340.45%	49.53%	112.96%	-42.86%	-50.00%	675.00%
Operating Cash Flow Growth	2.70%	-23.21%	-25.86%	70.17%	4.69%	-145.75%	155.67%	270.37%	-41.25%	-38.72%	70.14%
Free Cash Flow Firm Growth	318.79%	-17.41%	-60.32%	296.23%	-75.89%	-881.68%	91.64%	918.68%	-74.06%	-196.25%	67.24%
Invested Capital Growth	5.41%	1.31%	-7.44%	-8.04%	9.63%	14.45%	-6.26%	-22.95%	-7.41%	9.97%	12.50%
Revenue Q/Q Growth	1.43%	0.48%	0.32%	1.57%	-0.76%	-26.52%	16.09%	8.19%	2.05%	1.16%	0.00%
EBITDA Q/Q Growth	-20.09%	15.28%	0.00%	3.52%	-7.19%	-143.68%	62.03%	4.89%	27.44%	-16.26%	-18.78%
EBIT Q/Q Growth	-21.45%	25.38%	-1.59%	4.71%	-1.60%	-56.74%	27.69%	12.94%	58.44%	-26.72%	-36.45%
NOPAT Q/Q Growth	-15.75%	-1.04%	-128.67%	388.99%	9.36%	-53.02%	32.82%	282.42%	139.95%	-85.67%	-30.34%
Net Income Q/Q Growth	-14.29%	-0.83%	-128.36%	413.64%	7.69%	-43.78%	22.51%	385.71%	141.67%	-86.11%	-49.37%
EPS Q/Q Growth	-13.92%	0.00%	-129.17%	406.25%	7.23%	-41.72%	22.30%	300.00%	150.00%	-84.00%	-53.03%
Operating Cash Flow Q/Q Growth	1.46%	-9.58%	-10.19%	3.32%	7.34%	-61.67%	272.41%	-20.79%	9.81%	12.50%	-28.99%
Free Cash Flow Firm Q/Q Growth	-10.44%	23.24%	-36.31%	13.95%	-74.04%	-2.24%	84.89%	-29.82%	154.67%	31.09%	-117.59%
Invested Capital Q/Q Growth	3.51%	0.76%	-6.74%	1.28%	20.98%	8.55%	-4.53%	17.41%	18.43%	6.43%	21.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	96.11%	95.20%	95.37%	94.67%	93.97%	90.89%	91.80%	61.06%	61.47%	60.44%	62.03%
EBITDA Margin	22.92%	17.84%	15.10%	18.20%	19.87%	-35.10%	-3.33%	12.94%	11.69%	9.26%	8.46%
Operating Margin	15.55%	11.22%	7.97%	11.33%	11.99%	-54.47%	-14.52%	6.77%	7.05%	5.01%	4.23%
EBIT Margin	16.69%	11.01%	7.97%	11.02%	11.79%	-55.79%	-15.63%	6.43%	6.82%	4.63%	3.60%
Profit (Net Income) Margin	13.27%	8.11%	-1.22%	7.00%	8.08%	-47.85%	-16.41%	1.34%	0.56%	0.27%	2.12%
Tax Burden Percent	82.85%	79.47%	-17.27%	65.32%	64.95%	78.32%	80.00%	29.85%	8.00%	5.75%	88.89%
Interest Burden Percent	95.98%	92.64%	88.71%	97.19%	105.43%	109.50%	131.21%	69.79%	102.46%	102.35%	66.18%
Effective Tax Rate	17.15%	20.53%	117.27%	34.68%	35.05%	0.00%	0.00%	70.15%	92.00%	94.25%	11.11%
Return on Invested Capital (ROIC)	21.56%	14.32%	-2.40%	14.52%	14.69%	-24.83%	-9.56%	3.67%	1.46%	0.76%	9.19%
ROIC Less NNEP Spread (ROIC-NNEP)	20.02%	16.55%	-2.85%	15.62%	13.76%	36.32%	-55.90%	293.65%	1.51%	0.90%	160.95%
Return on Net Nonoperating Assets (RNNOA)	-5.95%	-6.09%	1.07%	-6.54%	-5.11%	-3.41%	-8.11%	-1.25%	-0.31%	-0.21%	-4.16%
Return on Equity (ROE)	15.61%	8.24%	-1.33%	7.97%	9.57%	-28.24%	-17.67%	2.42%	1.15%	0.55%	5.04%
Cash Return on Invested Capital (CROIC)	16.29%	13.02%	5.33%	22.89%	5.50%	-38.31%	-3.10%	29.60%	9.16%	-8.74%	-2.57%
Operating Return on Assets (OROA)	12.22%	7.47%	5.50%	8.02%	8.87%	-17.05%	-6.62%	3.95%	4.78%	3.33%	2.62%
Return on Assets (ROA)	9.72%	5.50%	-0.84%	5.09%	6.07%	-14.62%	-6.95%	0.82%	0.39%	0.20%	1.54%
Return on Common Equity (ROCE)	15.61%	8.24%	-1.33%	7.97%	9.57%	-28.24%	-17.67%	2.42%	1.15%	0.55%	5.04%
Return on Equity Simple (ROE_SIMPLE)	14.02%	7.99%	-1.39%	7.68%	10.85%	-32.62%	-18.76%	2.32%	1.15%	0.53%	0.00%
Net Operating Profit after Tax (NOPAT)	192	132	-21	120	121	-230	-92	30	10	5.29	71
NOPAT Margin	12.88%	8.91%	-1.38%	7.40%	7.79%	-38.13%	-10.17%	2.02%	0.56%	0.29%	3.76%
Net Nonoperating Expense Percent (NNEP)	1.54%	-2.22%	0.45%	-1.10%	0.93%	-61.15%	46.34%	-289.98%	-0.05%	-0.14%	-151.76%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.70%	0.57%	0.29%	3.78%
Cost of Revenue to Revenue	3.89%	4.80%	4.63%	5.33%	6.03%	9.11%	8.20%	38.94%	38.53%	39.56%	37.97%
SG&A Expenses to Revenue	14.08%	9.66%	10.09%	10.96%	11.99%	28.64%	18.51%	4.96%	4.42%	4.96%	3.60%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	80.56%	83.99%	87.40%	83.34%	81.99%	145.36%	106.32%	54.29%	54.42%	55.42%	57.80%
Earnings before Interest and Taxes (EBIT)	249	163	124	178	184	-337	-141	96	122	85	68
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	342	264	235	294	310	-212	-30	193	209	170	160
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.74	4.00	3.12	4.49	3.65	4.37	4.77	2.94	3.42	2.18	2.64
Price to Tangible Book Value (P/TBV)	21.69	10.03	9.19	11.06	20.07	0.00	0.00	0.00	0.00	22.13	0.00
Price to Revenue (P/Rev)	7.33	4.06	2.74	4.09	2.71	6.41	4.18	1.69	1.67	1.12	0.90
Price to Earnings (P/E)	55.21	50.07	0.00	58.44	33.61	0.00	0.00	126.39	298.22	411.60	42.55
Dividend Yield	0.00%	0.00%	0.00%	0.00%	11.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.81%	2.00%	0.00%	1.71%	2.98%	0.00%	0.00%	0.79%	0.34%	0.24%	2.35%
Enterprise Value to Invested Capital (EV/IC)	11.40	5.86	4.37	7.51	4.55	4.02	4.21	3.33	4.19	2.53	2.29
Enterprise Value to Revenue (EV/Rev)	6.99	3.67	2.41	3.67	2.52	6.58	4.33	1.60	1.55	1.00	0.99
Enterprise Value to EBITDA (EV/EBITDA)	30.51	20.58	15.96	20.14	12.71	0.00	0.00	12.34	13.27	10.84	11.73
Enterprise Value to EBIT (EV/EBIT)	41.90	33.33	30.25	33.27	21.41	0.00	0.00	24.81	22.73	21.68	27.59
Enterprise Value to NOPAT (EV/NOPAT)	54.29	41.18	0.00	49.54	32.43	0.00	0.00	79.00	275.12	348.57	26.38
Enterprise Value to Operating Cash Flow (EV/OCF)	24.96	16.93	15.76	14.62	9.29	0.00	36.16	5.95	11.80	12.80	7.66
Enterprise Value to Free Cash Flow (EV/FCFF)	71.86	45.31	78.83	31.41	86.65	0.00	0.00	9.80	43.96	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.14	0.11	0.17	0.00	0.07	0.63	1.14	1.06	1.02	0.93	1.92
Long-Term Debt to Equity	0.14	0.06	0.17	0.00	0.07	0.63	1.14	1.06	1.02	0.93	1.37
Financial Leverage	-0.30	-0.37	-0.38	-0.42	-0.37	-0.09	0.15	0.00	-0.21	-0.23	-0.03
Leverage Ratio	1.61	1.50	1.57	1.57	1.58	1.93	2.54	2.94	2.95	2.81	3.27
Compound Leverage Factor	1.54	1.39	1.40	1.52	1.66	2.11	3.34	2.05	3.02	2.88	2.16
Debt to Total Capital	12.46%	10.22%	14.44%	0.00%	6.30%	38.81%	53.23%	51.36%	50.54%	48.24%	65.73%
Short-Term Debt to Total Capital	0.06%	4.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	18.76%
Long-Term Debt to Total Capital	12.40%	5.44%	14.44%	0.00%	6.30%	38.81%	53.23%	51.36%	50.54%	47.97%	46.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.54%	89.78%	85.56%	100.00%	93.70%	61.19%	46.77%	48.64%	49.46%	51.76%	34.27%
Debt to EBITDA	0.59	0.65	0.98	0.00	0.25	-2.65	-29.93	4.71	4.26	5.17	7.73
Net Debt to EBITDA	-1.45	-2.18	-2.15	0.00	-0.95	-0.49	-4.63	-0.76	-1.00	-1.26	1.09
Long-Term Debt to EBITDA	0.58	0.34	0.98	0.00	0.25	-2.65	-29.93	4.71	4.26	5.14	5.53
Debt to NOPAT	1.05	1.30	-10.74	0.00	0.64	-2.44	-9.79	30.15	88.29	166.25	17.40
Net Debt to NOPAT	-2.59	-4.36	23.58	0.00	-2.44	-0.45	-1.52	-4.84	-20.73	-40.66	2.45
Long-Term Debt to NOPAT	1.04	0.69	-10.74	0.00	0.64	-2.44	-9.79	30.15	88.29	165.30	12.43
Altman Z-Score	11.10	6.67	4.57	7.67	4.72	2.37	2.15	2.08	2.43	2.06	1.62
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.77	2.25	2.67	2.33	1.23	2.37	2.63	2.38	2.27	2.10	1.29
Quick Ratio	2.70	2.17	2.52	2.24	1.15	2.07	2.42	2.30	2.20	2.02	1.25
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	145	120	48	189	45	-355	-30	243	63	-61	-20
Operating Cash Flow to CapEx	383.49%	445.83%	371.88%	663.93%	510.84%	-352.73%	200.00%	714.29%	373.02%	194.59%	298.78%
Free Cash Flow to Firm to Interest Expense	14.52	9.99	3.17	15.71	6.49	-10.15	-0.66	5.53	1.43	-1.32	-0.32
Operating Cash Flow to Interest Expense	41.80	26.75	15.87	33.75	60.57	-5.54	2.40	9.09	5.34	3.13	3.89
Operating Cash Flow Less CapEx to Interest Expense	30.90	20.75	11.60	28.67	48.71	-7.11	1.20	7.82	3.91	1.52	2.59
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.68	0.69	0.73	0.75	0.31	0.42	0.61	0.70	0.72	0.73
Accounts Receivable Turnover	9.02	8.02	7.43	7.31	0.00	0.00	0.00	0.00	9.01	9.20	9.09
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.75	5.84	5.95	6.26	5.97	2.37	3.96	7.30	9.29	9.39	9.22
Accounts Payable Turnover	4.00	5.92	6.55	7.48	7.23	3.79	3.29	17.61	20.57	18.86	19.94
Days Sales Outstanding (DSO)	40.49	45.50	49.14	49.95	0.00	0.00	0.00	0.00	40.52	39.68	40.15
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	91.25	61.69	55.76	48.81	50.48	96.23	110.98	20.73	17.75	19.36	18.30
Cash Conversion Cycle (CCC)	-50.76	-16.19	-6.62	1.14	-50.48	-96.23	-110.98	-20.73	22.77	20.33	21.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	915	927	858	789	865	990	928	715	662	728	819
Invested Capital Turnover	1.67	1.61	1.74	1.96	1.89	0.65	0.94	1.82	2.60	2.64	2.44
Increase / (Decrease) in Invested Capital	47	12	-69	-69	76	125	-62	-213	-53	66	91
Enterprise Value (EV)	10,434	5,433	3,751	5,922	3,939	3,976	3,906	2,382	2,773	1,843	1,876
Market Capitalization	10,931	6,008	4,256	6,604	4,235	3,872	3,767	2,528	2,982	2,058	1,702
Book Value per Share	$9.79	$10.31	$9.81	$10.69	$8.33	$6.59	$5.71	$6.12	$6.29	$6.77	$5.52
Tangible Book Value per Share	$3.50	$4.11	$3.33	$4.34	$1.51	($0.46)	($0.86)	($0.09)	($0.01)	$0.67	($1.98)
Total Capital	1,613	1,673	1,593	1,471	1,239	1,448	1,687	1,770	1,761	1,822	1,882
Total Debt	201	171	230	0.00	78	562	898	909	890	879	1,237
Total Long-Term Debt	200	91	230	0.00	78	562	898	909	890	874	884
Net Debt	-497	-575	-505	-682	-296	104	139	-146	-209	-215	174
Capital Expenditures (CapEx)	109	72	64	61	83	55	54	56	63	74	82
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-107	-123	-87	-148	-221	-87	-140	-284	-342	-367	-389
Debt-free Net Working Capital (DFNWC)	554	607	621	522	98	331	583	737	725	697	646
Net Working Capital (NWC)	553	527	621	522	98	331	583	737	725	692	293
Net Nonoperating Expense (NNE)	-5.80	12	-2.42	6.53	-4.55	59	56	10	0.08	0.29	31
Net Nonoperating Obligations (NNO)	-497	-575	-505	-682	-296	104	139	-146	-209	-215	174
Total Depreciation and Amortization (D&A)	93	101	111	116	126	125	111	97	87	85	92
Debt-free, Cash-free Net Working Capital to Revenue	-7.17%	-8.31%	-5.59%	-9.16%	-14.17%	-14.40%	-15.52%	-19.03%	-19.13%	-20.00%	-20.57%
Debt-free Net Working Capital to Revenue	37.13%	41.01%	39.91%	32.32%	6.28%	54.80%	64.63%	49.40%	40.55%	37.98%	34.16%
Net Working Capital to Revenue	37.06%	35.61%	39.91%	32.32%	6.28%	54.80%	64.63%	49.40%	40.55%	37.71%	15.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.38	$0.83	($0.14)	$0.82	$0.91	($2.14)	($1.08)	$0.14	$0.07	$0.04	$0.32
Adjusted Weighted Average Basic Shares Outstanding	143.84M	145.44M	140.45M	138.12M	139M	134.86M	137.23M	139.92M	139.41M	139.08M	124.52M
Adjusted Diluted Earnings per Share	$1.36	$0.82	($0.14)	$0.81	$0.89	($2.14)	($1.08)	$0.14	$0.08	$0.04	$0.31
Adjusted Weighted Average Diluted Shares Outstanding	145.97M	146.89M	140.45M	140.38M	141M	134.86M	137.23M	145.67M	144.82M	145.04M	130.95M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	145.27M	144.16M	138.98M	138.14M	136.09M	134.83M	138.67M	140.96M	137.90M	140.38M	114.76M
Normalized Net Operating Profit after Tax (NOPAT)	192	132	87	120	122	-200	-92	71	104	79	109
Normalized NOPAT Margin	12.88%	8.91%	5.58%	7.40%	7.83%	-33.03%	-10.17%	4.74%	5.79%	4.31%	5.78%
Pre Tax Income Margin	16.02%	10.20%	7.07%	10.71%	12.44%	-61.09%	-20.51%	4.49%	6.99%	4.74%	2.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	24.90	13.58	8.27	14.83	26.29	-9.63	-3.13	2.18	2.77	1.85	1.08
NOPAT to Interest Expense	19.22	10.99	-1.43	9.96	17.35	-6.58	-2.04	0.69	0.23	0.11	1.13
EBIT Less CapEx to Interest Expense	14.00	7.58	4.00	9.75	14.43	-11.20	-4.33	0.91	1.34	0.24	-0.22
NOPAT Less CapEx to Interest Expense	8.32	4.99	-5.69	4.88	5.49	-8.15	-3.24	-0.59	-1.20	-1.49	-0.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	387.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	87.50%	-1,315.79%	88.50%	434.92%	-43.25%	0.00%	0.00%	1,000.00%	500.00%	1,252.50%

This table displays calculated financial ratios and metrics derived from TripAdvisor's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	114,755,221.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	114,755,221.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.28
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.12%	10.17%	6.47%	0.61%	-0.19%	5.38%	0.76%	6.44%	3.95%	0.00%	-3.97%
EBITDA Growth	-9.78%	409.09%	-33.33%	-12.50%	4.82%	-58.93%	-25.00%	37.50%	8.05%	-160.87%	-70.37%
EBIT Growth	-10.14%	346.15%	-20.00%	-16.28%	6.45%	-96.88%	0.00%	50.00%	6.06%	-3,900.00%	-27.96%
NOPAT Growth	-4.34%	480.95%	-7.14%	-5.26%	53.20%	-97.81%	0.00%	98.76%	42.37%	-3,500.00%	-62.58%
Net Income Growth	8.00%	1,700.00%	19.18%	0.00%	44.44%	-96.88%	81.36%	50.00%	35.90%	-3,900.00%	-194.55%
EPS Growth	11.76%	0.00%	17.31%	0.00%	42.11%	-87.50%	81.40%	64.71%	59.26%	-1,166.67%	-250.00%
Operating Cash Flow Growth	-76.67%	52.50%	2.96%	-51.43%	-407.14%	84.21%	-26.62%	296.08%	202.33%	-3,333.33%	15.83%
Free Cash Flow Firm Growth	-80.32%	-58.46%	-95.19%	-111.22%	-208.62%	-176.82%	-1,317.24%	-16.68%	183.56%	-75.80%	88.22%
Invested Capital Growth	-8.21%	-7.41%	-4.66%	7.60%	22.36%	9.97%	32.49%	11.71%	-1.61%	12.50%	0.47%
Revenue Q/Q Growth	7.89%	-26.83%	1.28%	25.82%	7.04%	-22.74%	-3.16%	32.91%	4.54%	-25.68%	-6.96%
EBITDA Q/Q Growth	29.69%	-32.53%	-92.86%	1,300.00%	55.36%	-73.56%	-86.96%	2,466.67%	22.08%	-114.89%	105.71%
EBIT Q/Q Growth	44.19%	-48.39%	-156.25%	300.00%	83.33%	-98.48%	-1,900.00%	400.00%	29.63%	-154.29%	37.37%
NOPAT Q/Q Growth	12.50%	18.52%	-132.81%	316.54%	81.92%	-98.31%	-1,600.00%	530.40%	30.31%	-140.42%	25.88%
Net Income Q/Q Growth	12.50%	18.52%	-284.38%	140.68%	62.50%	-97.44%	-1,200.00%	427.27%	47.22%	-171.70%	14.74%
EPS Q/Q Growth	11.76%	26.32%	-279.17%	139.53%	58.82%	-88.89%	-366.67%	450.00%	53.57%	-174.42%	12.50%
Operating Cash Flow Q/Q Growth	-86.67%	-235.71%	831.58%	-63.31%	-184.31%	93.02%	3,500.00%	98.04%	-78.22%	-334.09%	214.37%
Free Cash Flow Firm Q/Q Growth	-43.38%	10.39%	-82.94%	-205.26%	-447.96%	21.92%	-170.29%	89.91%	492.45%	-264.26%	81.85%
Invested Capital Q/Q Growth	11.80%	18.43%	-22.81%	5.28%	27.14%	6.43%	-7.01%	-11.23%	11.98%	21.69%	-16.95%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	91.93%	-47.69%	91.14%	90.74%	91.17%	-45.50%	57.04%	63.89%	66.00%	59.12%	57.53%
EBITDA Margin	15.57%	14.36%	1.01%	11.27%	16.35%	5.60%	0.75%	14.56%	17.00%	-3.41%	0.21%
Operating Margin	12.01%	8.21%	-3.80%	7.24%	13.16%	0.24%	-3.77%	11.15%	12.66%	-8.27%	-6.59%
EBIT Margin	11.63%	8.21%	-4.56%	7.24%	12.41%	0.24%	-4.52%	10.21%	12.66%	-9.25%	-6.22%
Profit (Net Income) Margin	5.07%	8.21%	-14.94%	4.83%	7.33%	0.24%	-2.76%	6.81%	9.58%	-9.25%	-8.47%
Tax Burden Percent	42.19%	100.00%	368.75%	63.16%	59.09%	-100.00%	55.00%	76.60%	84.13%	84.44%	102.53%
Interest Burden Percent	103.23%	100.00%	88.89%	105.56%	100.00%	-100.00%	111.11%	87.04%	90.00%	118.42%	132.77%
Effective Tax Rate	57.81%	0.00%	0.00%	36.84%	40.91%	0.00%	0.00%	23.40%	15.87%	0.00%	0.00%
Return on Invested Capital (ROIC)	15.20%	21.31%	-9.20%	16.00%	22.69%	0.45%	-8.16%	28.05%	29.68%	-14.16%	-12.75%
ROIC Less NNEP Spread (ROIC-NNEP)	15.20%	21.31%	7.35%	15.58%	23.60%	0.31%	-7.81%	33.38%	33.69%	55.11%	-45.37%
Return on Net Nonoperating Assets (RNNOA)	-4.35%	-4.37%	-2.64%	-5.71%	-7.00%	-0.07%	1.49%	-7.76%	-6.00%	-1.42%	-3.24%
Return on Equity (ROE)	10.85%	16.94%	-11.84%	10.29%	15.70%	0.38%	-6.67%	20.29%	23.68%	-15.58%	-15.99%
Cash Return on Invested Capital (CROIC)	4.24%	9.16%	9.40%	-2.74%	-14.18%	-8.74%	-18.06%	3.20%	16.67%	-2.57%	5.25%
Operating Return on Assets (OROA)	7.84%	5.75%	-3.05%	4.77%	8.38%	0.18%	-3.03%	6.76%	8.58%	-6.74%	-4.26%
Return on Assets (ROA)	3.41%	5.75%	-9.98%	3.18%	4.95%	0.18%	-1.85%	4.51%	6.50%	-6.74%	-5.80%
Return on Common Equity (ROCE)	10.85%	16.94%	-11.84%	10.29%	15.70%	0.38%	-6.67%	20.29%	23.68%	-15.58%	-15.99%
Return on Equity Simple (ROE_SIMPLE)	-2.92%	0.00%	2.91%	2.80%	3.81%	0.00%	8.24%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	27	32	-11	23	41	0.70	-11	45	59	-24	-18
NOPAT Margin	5.07%	8.21%	-2.66%	4.57%	7.78%	0.17%	-2.64%	8.54%	10.65%	-5.79%	-4.61%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	-16.55%	0.42%	-0.90%	0.14%	-0.36%	-5.33%	-4.01%	-69.27%	32.62%
Return On Investment Capital (ROIC_SIMPLE)	-	1.82%	-	-	-	0.04%	-0.56%	2.45%	3.07%	-1.26%	-0.96%
Cost of Revenue to Revenue	8.07%	147.69%	8.86%	9.26%	8.83%	145.50%	42.96%	36.11%	34.00%	40.88%	42.47%
SG&A Expenses to Revenue	9.19%	-16.67%	14.18%	11.27%	9.59%	-17.52%	4.27%	2.46%	3.26%	4.87%	3.84%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	79.93%	-55.90%	94.94%	83.50%	78.01%	-45.74%	60.80%	52.74%	53.35%	67.40%	64.12%
Earnings before Interest and Taxes (EBIT)	62	32	-18	36	66	1.00	-18	54	70	-38	-24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	83	56	4.00	56	87	23	3.00	77	94	-14	0.80
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.78	3.42	4.67	2.89	2.13	2.18	3.09	2.46	2.67	2.64	1.96
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	27.52	22.13	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.31	1.67	2.12	1.37	1.11	1.12	1.08	0.82	1.00	0.90	0.65
Price to Earnings (P/E)	0.00	298.22	160.39	103.36	55.80	411.60	37.53	23.71	23.90	42.55	65.77
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.34%	0.62%	0.97%	1.79%	0.24%	2.66%	4.22%	4.18%	2.35%	1.52%
Enterprise Value to Invested Capital (EV/IC)	3.62	4.19	6.92	4.02	2.56	2.53	2.99	2.52	2.76	2.29	1.88
Enterprise Value to Revenue (EV/Rev)	1.16	1.55	1.95	1.19	0.96	1.00	1.10	0.81	0.98	0.99	0.68
Enterprise Value to EBITDA (EV/EBITDA)	12.34	13.27	17.08	10.86	8.62	10.84	11.97	7.97	9.41	11.73	8.09
Enterprise Value to EBIT (EV/EBIT)	26.28	22.73	29.71	19.30	15.08	21.68	23.80	14.71	17.33	27.59	20.38
Enterprise Value to NOPAT (EV/NOPAT)	0.00	275.12	146.13	90.84	47.39	348.57	34.44	18.65	18.17	26.38	32.98
Enterprise Value to Operating Cash Flow (EV/OCF)	9.46	11.80	14.79	11.68	13.66	12.80	18.91	5.87	5.37	7.66	4.90
Enterprise Value to Free Cash Flow (EV/FCFF)	81.71	43.96	71.87	0.00	0.00	0.00	0.00	83.02	16.40	0.00	35.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.08	1.02	1.08	1.04	0.94	0.93	1.89	1.94	1.71	1.92	1.93
Long-Term Debt to Equity	1.08	1.02	1.08	1.04	0.93	0.93	1.88	1.37	1.22	1.37	1.36
Financial Leverage	-0.29	-0.21	-0.36	-0.37	-0.30	-0.23	-0.19	-0.23	-0.18	-0.03	0.07
Leverage Ratio	3.18	2.95	3.32	3.37	3.04	2.81	3.74	3.80	3.38	3.27	4.33
Compound Leverage Factor	3.28	2.95	2.95	3.55	3.04	-2.81	4.16	3.31	3.04	3.87	5.75
Debt to Total Capital	52.01%	50.54%	51.87%	50.89%	48.33%	48.24%	65.45%	65.96%	63.16%	65.73%	65.88%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.27%	0.27%	0.48%	19.16%	18.40%	18.76%	19.34%
Long-Term Debt to Total Capital	52.01%	50.54%	51.87%	50.89%	48.06%	47.97%	64.97%	46.80%	44.76%	46.97%	46.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	47.99%	49.46%	48.13%	49.11%	51.67%	51.76%	34.55%	34.04%	36.84%	34.27%	34.12%
Debt to EBITDA	5.44	4.26	4.29	4.46	4.35	5.17	7.21	6.39	6.15	7.73	7.62
Net Debt to EBITDA	-1.61	-1.00	-1.52	-1.60	-1.28	-1.26	0.20	-0.14	-0.17	1.09	0.36
Long-Term Debt to EBITDA	5.44	4.26	4.29	4.46	4.33	5.14	7.15	4.54	4.36	5.53	5.38
Debt to NOPAT	-35.35	88.29	36.75	37.32	23.93	166.25	20.73	14.95	11.87	17.40	31.04
Net Debt to NOPAT	10.46	-20.73	-12.98	-13.41	-7.05	-40.66	0.58	-0.32	-0.33	2.45	1.46
Long-Term Debt to NOPAT	-35.35	88.29	36.75	37.32	23.79	165.30	20.58	10.61	8.42	12.43	21.93
Altman Z-Score	1.94	2.31	2.23	1.86	1.85	1.96	1.65	1.40	1.61	1.49	1.28
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.95	2.27	1.69	1.68	1.85	2.10	1.90	1.24	1.33	1.29	1.25
Quick Ratio	1.89	2.20	1.59	1.56	1.71	2.02	1.81	1.20	1.28	1.25	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	77	85	15	-15	-84	-65	-177	-18	70	-115	-21
Operating Cash Flow to CapEx	87.50%	-118.75%	868.75%	340.00%	-215.00%	-13.04%	536.84%	808.00%	231.58%	-542.11%	713.94%
Free Cash Flow to Firm to Interest Expense	7.00	7.73	1.32	-1.39	-6.43	-5.94	-14.71	-1.05	4.11	-6.75	-1.33
Operating Cash Flow to Interest Expense	1.27	-1.73	12.64	4.64	-3.31	-0.27	8.50	11.88	2.59	-6.06	7.50
Operating Cash Flow Less CapEx to Interest Expense	-0.18	-3.18	11.18	3.27	-4.85	-2.36	6.92	10.41	1.47	-7.18	6.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.70	0.67	0.66	0.68	0.72	0.67	0.66	0.68	0.73	0.68
Accounts Receivable Turnover	7.98	9.01	7.91	7.36	7.61	9.20	7.19	6.96	7.55	9.09	7.69
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.03	9.29	9.46	9.48	9.30	9.39	9.35	9.28	9.22	9.22	9.19
Accounts Payable Turnover	2.10	20.57	3.30	3.72	2.26	18.86	11.95	12.12	10.31	19.94	11.59
Days Sales Outstanding (DSO)	45.73	40.52	46.13	49.57	47.99	39.68	50.74	52.41	48.35	40.15	47.49
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	173.63	17.75	110.68	98.09	161.36	19.36	30.54	30.12	35.39	18.30	31.50
Cash Conversion Cycle (CCC)	-127.90	22.77	-64.55	-48.52	-113.37	20.33	20.20	22.29	12.96	21.85	16.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	559	662	511	538	684	728	677	601	673	819	680
Invested Capital Turnover	3.00	2.60	3.46	3.50	2.92	2.64	3.09	3.28	2.79	2.44	2.76
Increase / (Decrease) in Invested Capital	-50	-53	-25	38	125	66	166	63	-11	91	3.20
Enterprise Value (EV)	2,024	2,773	3,535	2,162	1,749	1,843	2,023	1,515	1,854	1,876	1,280
Market Capitalization	2,288	2,982	3,849	2,481	2,009	2,058	1,989	1,541	1,888	1,702	1,223
Book Value per Share	$5.96	$6.29	$5.96	$6.15	$6.81	$6.77	$4.58	$5.31	$6.09	$5.52	$5.44
Tangible Book Value per Share	($0.28)	($0.01)	($0.27)	($0.03)	$0.53	$0.67	($1.55)	($2.13)	($1.46)	($1.98)	($2.17)
Total Capital	1,715	1,761	1,714	1,745	1,827	1,822	1,861	1,842	1,919	1,882	1,828
Total Debt	892	890	889	888	883	879	1,218	1,215	1,212	1,237	1,205
Total Long-Term Debt	892	890	889	888	878	874	1,209	862	859	884	851
Net Debt	-264	-209	-314	-319	-260	-215	34	-26	-34	174	57
Capital Expenditures (CapEx)	16	16	16	15	20	23	19	25	19	19	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-442	-342	-552	-553	-436	-367	-444	-561	-491	-389	-486
Debt-free Net Working Capital (DFNWC)	682	725	619	623	676	697	710	651	727	646	634
Net Working Capital (NWC)	682	725	619	623	671	692	701	298	374	293	281
Net Nonoperating Expense (NNE)	0.00	0.00	49	-1.26	2.36	-0.30	0.50	9.19	5.89	14	15
Net Nonoperating Obligations (NNO)	-264	-209	-314	-319	-260	-215	34	-26	-34	174	57
Total Depreciation and Amortization (D&A)	21	24	22	20	21	22	21	23	24	24	25
Debt-free, Cash-free Net Working Capital to Revenue	-25.23%	-19.13%	-30.46%	-30.47%	-24.04%	-20.00%	-24.16%	-30.00%	-25.97%	-20.57%	-25.93%
Debt-free Net Working Capital to Revenue	38.93%	40.55%	34.16%	34.33%	37.27%	37.98%	38.63%	34.81%	38.45%	34.16%	33.82%
Net Working Capital to Revenue	38.93%	40.55%	34.16%	34.33%	36.99%	37.71%	38.14%	15.94%	19.78%	15.49%	14.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.20	$0.22	($0.43)	$0.17	$0.28	$0.02	($0.08)	$0.29	$0.46	($0.35)	($0.28)
Adjusted Weighted Average Basic Shares Outstanding	138.19M	139.41M	138.44M	139.23M	138.92M	139.08M	140.97M	124.95M	116.44M	124.52M	115.43M
Adjusted Diluted Earnings per Share	$0.19	$0.24	($0.43)	$0.17	$0.27	$0.03	($0.08)	$0.28	$0.43	($0.32)	($0.28)
Adjusted Weighted Average Diluted Shares Outstanding	143.29M	144.82M	138.44M	145.22M	144.19M	145.04M	140.97M	130.24M	123.72M	130.95M	115.43M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	138.51M	137.90M	139.28M	138.64M	139.34M	140.38M	118.09M	116.13M	116.91M	114.76M	116.36M
Normalized Net Operating Profit after Tax (NOPAT)	57	22	-11	23	41	0.70	-3.50	45	59	-0.70	-15
Normalized NOPAT Margin	10.77%	5.74%	-2.66%	4.57%	7.66%	0.17%	-0.88%	8.54%	10.65%	-0.17%	-4.01%
Pre Tax Income Margin	12.01%	8.21%	-4.05%	7.65%	12.41%	-0.24%	-5.03%	8.88%	11.39%	-10.95%	-8.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.64	2.91	-1.64	3.27	5.08	0.09	-1.50	3.18	4.12	-2.24	-1.52
NOPAT to Interest Expense	2.45	2.91	-0.95	2.07	3.18	0.06	-0.88	2.66	3.46	-1.40	-1.12
EBIT Less CapEx to Interest Expense	4.18	1.45	-3.09	1.91	3.54	-2.00	-3.08	1.71	3.00	-3.35	-2.57
NOPAT Less CapEx to Interest Expense	1.00	1.45	-2.41	0.70	1.64	-2.03	-2.46	1.19	2.35	-2.52	-2.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-312.50%	1,000.00%	0.00%	208.33%	138.89%	500.00%	0.00%	693.85%	570.89%	1,252.50%	0.00%

Financials Breakdown Chart

Key Financial Trends

TripAdvisor, Inc. (TRIP) shows a mix of growth, seasonality, and leverage across the last four years of quarterly results. Revenue has periods of strength (notably in several 2023–2025 quarters), while gross margins and net income have been volatile. The company carries a meaningful debt load, but maintains a sizable cash balance in mid-2025. Quarterly cash flow has been positive in several periods yet shows substantial swings, particularly in Q4 2025. The following points highlight the most relevant trends for retail investors to consider.

Q3 2025 revenue reached 553,000,000 with gross profit of 365,000,000, yielding a solid gross margin around 66% for that quarter (peak revenue in the four-year window).
Q3 2025 net income attributable to common shareholders was 53,000,000, showing that profitability returned in that quarter.
As of Q3 2025, liquidity appears solid: cash and equivalents about 1.218B against roughly 1.174B in total debt (353M short-term + 821M long-term), implying a small net cash position (~44M) on a standard cash/debt view.
Seasonality and quarterly volatility are evident, with wide swings in revenue and margins across quarters, reflecting travel demand patterns and holiday cycles.
There are historical restatements that affect comparability (e.g., Q4 2024 restated and Q1 2024 restated), which can complicate year-over-year comparisons.
Q4 2025 net income from continuing operations was -38,000,000, indicating a quarterly loss despite some quarters being profitable.
Q4 2024 gross profit was negative (-187,000,000), signaling a period where cost of revenue exceeded revenue on a quarterly basis.
Q4 2025 net change in cash and equivalents was -182,000,000, showing a significant quarterly cash outflow driven by operating and investing activities.
Leverage remains notable: total liabilities around 2.138B versus total equity of about 0.707B (Total Liabilities vs. Shareholders’ Equity), indicating a high debt load relative to equity.
Marketing expense was substantial in Q4 2025 (174,000,000) against 411,000,000 in operating revenue, suggesting periods of high customer-acquisition spend that compress operating efficiency.

05/15/26 05:58 AM ETAI Generated. May Contain Errors.

TripAdvisor Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TripAdvisor's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

TripAdvisor's net income appears to be on a downward trend, with a most recent value of $40 million in 2025, falling from $198 million in 2015. The previous period was $5 million in 2024. See TripAdvisor's forecast for analyst expectations on what's next for the company.

TripAdvisor's total operating income in 2025 was $80 million, based on the following breakdown:

Total Gross Profit: $1.17 billion
Total Operating Expenses: $1.09 billion

Over the last 10 years, TripAdvisor's total revenue changed from $1.49 billion in 2015 to $1.89 billion in 2025, a change of 26.7%.

TripAdvisor's total liabilities were at $1.98 billion at the end of 2025, a 22.4% increase from 2024, and a 176.6% increase since 2015.

In the past 10 years, TripAdvisor's cash and equivalents has ranged from $319 million in 2019 to $1.07 billion in 2023, and is currently $1.03 billion as of their latest financial filing in 2025.

Over the last 10 years, TripAdvisor's book value per share changed from 9.79 in 2015 to 5.52 in 2025, a change of -43.7%.

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Financial statements for NASDAQ:TRIP last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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TripAdvisor (TRIP) Financials

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TripAdvisor Financials - Frequently Asked Questions

When does TripAdvisor's fiscal year end?

How has TripAdvisor's net income changed over the last 10 years?

What is TripAdvisor's operating income?

How has TripAdvisor's revenue changed over the last 10 years?

How much debt does TripAdvisor have?

How much cash does TripAdvisor have?

How has TripAdvisor's book value per share changed over the last 10 years?

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