Tripadvisor, Inc. (TRIP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.38	$0.35	-7.9%	—	$441.9M	—
Q1 26	-$0.07	-$0.11	-57.1%	—	$382.4M	—
Q4 25	$0.13	$0.04	-69.2%	—	$411M	—
Q3 25	$0.55	$0.65	+18.2%	—	$553M	—
Q2 25	$0.43	$0.46	+7.0%	—	$529M	—
Q1 25	$0.05	$0.14	+180.0%	—	$398M	—
Q4 24	$0.21	$0.3	+42.9%	—	$411M	—
Q3 24	$0.44	$0.5	+13.6%	—	$532M	—
Q2 24	$0.37	$0.39	+5.4%	—	$497M	—
Q1 24	$0.04	$0.12	+200.0%	—	$395M	—
Q4 23	$0.22	$0.38	+72.7%	—	$390M	—
Q3 23	$0.47	$0.52	+10.6%	—	$533M	—
Q2 23	$0.35	$0.34	-2.9%	—	$494M	—
Q1 23	$0.07	$0.05	-28.6%	—	$371M	—
Q4 22	$0.04	$0.16	+300.0%	—	$354M	—
Q3 22	$0.38	$0.28	-26.3%	—	$459M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.32	—	—	$1.9B	—
FY24	—	$0.04	—	—	$1.8B	—
FY23	—	$0.07	—	—	$1.8B	—
FY22	—	$0.14	—	—	$1.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.5B	$1.6B	$1.6B	$1.6B	$604M	$902M	$1.5B	$1.8B	$1.8B	$1.9B
YoY change	-0.8%	+5.14%	+3.79%	-3.41%	-61.3%	+49.3%	+65.4%	+19.8%	+2.63%	+3.05%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.5B	1.6B	1.6B	1.6B	604M	902M	1.5B	1.8B	1.8B	1.9B
Cost of revenue	71M	72M	86M	94M	55M	74M	116M	149M	131M	145M
Gross profit	1.4B	1.5B	1.5B	1.5B	549M	828M	1.4B	1.6B	1.7B	1.7B
Gross margin	95.2%	95.4%	94.7%	94%	90.9%	91.8%	92.2%	91.7%	92.9%	92.3%
Research & development	243M	243M	275M	—	—	—	—	—	—	—
Selling, general & administrative	899M	1B	955M	859M	489M	636M	956M	1.1B	1.4B	1.4B
Operating expenses	1.4B	1.5B	1.5B	1.2B	709M	848M	1.2B	1.4B	1.5B	1.5B
Operating income	166M	124M	183M	188M	-285M	-131M	101M	148M	113M	122.6M
Operating margin	11.2%	7.97%	11.3%	12.1%	-47.2%	-14.5%	6.77%	8.28%	6.16%	6.48%
Non-operating income, net	-4M	—	-5M	-4M	-52M	-10M	-5M	-26M	-28M	-55M
Pretax income	151M	110M	173M	194M	-369M	-185M	67M	125M	87M	45M
Income tax	31M	129M	60M	68M	-80M	-37M	47M	115M	82M	5M
Net income	120M	-19M	113M	126M	-289M	-148M	20M	10M	5M	40M
Net margin	8.11%	-1.22%	7%	8.08%	-47.8%	-16.4%	1.34%	0.56%	0.27%	2.12%
EBITDA	268M	236M	309M	330M	-164M	-25M	213M	283M	243M	252.4M
EPS	0.83	-0.14	0.82	0.91	-2.14	-1.08	0.14	0.07	0.04	0.32
Diluted EPS	0.82	-0.14	0.81	0.89	-2.14	-1.08	0.14	0.07	0.04	0.31

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	533M	390M	395M	497M	532M	411M	398M	529M	553M	411M	382.4M	441.9M
Cost of revenue	43M	36M	35M	46M	47M	3M	27M	42M	41M	35M	32.8M	31M
Gross profit	490M	354M	360M	451M	485M	408M	371M	487M	512M	376M	349.6M	410.9M
Gross margin	91.9%	90.8%	91.1%	90.7%	91.2%	99.3%	93.2%	92.1%	92.6%	91.5%	91.4%	93%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	379M	226M	277M	384M	384M	305M	333M	380M	392M	327M	321.9M	329.1M
Operating expenses	387M	294M	353M	394M	395M	366M	355M	405M	418M	353M	346.9M	350.7M
Operating income	82M	36M	-15M	36M	69M	20M	-5.3M	59M	70.5M	-1.7M	-21.9M	41.7M
Operating margin	15.4%	9.23%	-3.8%	7.24%	13%	4.87%	-1.33%	11.2%	12.7%	-0.41%	-5.73%	9.44%
Non-operating income, net	-20M	-5M	-3M	—	-3M	-20M	-13M	-5M	—	-37M	-1.9M	-3.9M
Pretax income	64M	32M	-16M	38M	66M	-1M	-20M	47M	63M	-45M	-31.6M	28.1M
Income tax	37M	0	43M	14M	27M	-2M	-9M	11M	10M	-7M	800K	5.3M
Net income	27M	32M	-59M	24M	39M	1M	-11M	36M	53M	-38M	-32.4M	22.4M
Net margin	5.07%	8.21%	-14.9%	4.83%	7.33%	0.24%	-2.76%	6.81%	9.58%	-9.25%	-8.47%	5.07%
EBITDA	114M	76M	17M	70M	99M	56M	23.3M	87M	113.2M	37.7M	12M	65.5M
EPS	0.2	—	-0.43	0.17	0.28	0.01	-0.08	0.29	0.46	-0.33	-0.28	0.19
Diluted EPS	0.19	—	-0.43	0.17	0.27	0.01	-0.08	0.28	0.43	-0.33	-0.28	0.19

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	6.7B	4.8B	7.4B	4.2B	3.9B	3.7B	2.5B	3B	2.1B	—	978.6M
Enterprise value	6.2B	4.4B	6.9B	4.1B	4.1B	4B	2.4B	2.8B	1.9B	—	1B
Shares outstanding	145M	140M	138M	139M	135M	137M	140M	139M	139M	125M	125M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	56	—	65.9	33.5	—	—	125.9	299.3	410.6	—	126.6
P/S	4.54	3.1	4.61	2.71	6.43	4.14	1.69	1.67	1.12	—	0.53
P/B	4.48	3.54	5.06	3.64	4.39	4.73	2.92	3.44	2.18	—	1.47
EV/EBITDA	23.3	18.8	22.2	12.3	-25	-158.6	11.4	10	7.79	—	9.43
EV/Sales	4.22	2.85	4.25	2.61	6.79	4.4	1.63	1.59	1.03	—	0.57
Earnings yield	1.78%	—	1.52%	2.98%	—	—	0.79%	0.33%	0.24%	—	0.79%
FCF yield	3.7%	3.61%	4.62%	8.08%	-6.41%	1.45%	13.7%	5.75%	3.41%	—	-10.4%
PEG	—	—	—	—	—	—	—	—	—	—	-3.67

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	95.2%	95.4%	94.7%	94%	90.9%	91.8%	92.2%	91.7%	92.9%	92.3%	93%
Operating margin	11.2%	7.97%	11.3%	12.1%	-47.2%	-14.5%	6.77%	8.28%	6.16%	6.48%	9.44%
Net margin	8.11%	-1.22%	7%	8.08%	-47.8%	-16.4%	1.34%	0.56%	0.27%	2.12%	0.27%
ROE	7.99%	-1.39%	7.68%	10.9%	-32.6%	-18.8%	2.32%	1.15%	0.53%	6.2%	-0.23%
ROA	5.36%	-0.84%	5.21%	6.35%	-14.7%	-6.47%	0.78%	0.39%	0.2%	1.52%	1.92%
ROIC	12.8%	0%	13.5%	12.1%	-25.9%	-12.9%	3.92%	1.65%	0.83%	12.7%	4.63%
Return on tangible assets	27.8%	-4.03%	27%	150%	-395.9%	-31.3%	2.43%	1.26%	0.79%	7.16%	0.49%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.25	2.67	2.33	1.23	2.37	2.63	2.38	2.27	2.1	1.29	1.56
Quick ratio	2.25	2.67	2.33	1.23	2.37	2.63	2.38	2.27	2.1	1.29	1.56
Debt / equity	0.17	0.24	0.06	0.14	0.72	1.21	1.08	1.05	0.96	1.94	1.35
Debt / assets	0.11	0.14	0.04	0.08	0.32	0.42	0.36	0.36	0.35	0.48	0.35
Net debt / EBITDA	-1.77	-1.64	-1.9	-0.46	-1.32	-9.2	-0.43	-0.55	-0.66	0.86	0.22
Interest coverage	13.6	8.33	15.4	28.7	-9.54	-3.11	2.52	3.84	2.89	1.71	1.23
Effective tax rate	20.5%	100%	34.7%	35.1%	0%	0%	70.1%	92%	94.3%	11.1%	62.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.2	11.1	11.7	11.2	4.47	6.58	10.7	12.9	13.2	15.1	15.8
EPS (basic)	0.83	-0.14	0.82	0.91	-2.14	-1.08	0.14	0.07	0.04	0.32	0.32
EPS (diluted)	0.82	-0.14	0.81	0.89	-2.14	-1.08	0.14	0.07	0.04	0.31	0.31
Book value per share	10.4	9.74	10.7	8.35	6.56	5.76	6.15	6.27	6.78	5.16	5.71
FCF per share	1.72	1.24	2.49	2.45	-1.84	0.39	2.46	1.24	0.5	1.3	1.13
Cash per share	5.03	5.06	4.86	2.29	3.1	5.28	7.29	7.68	7.65	8.28	7.2
Capex per share	—	—	—	—	—	—	—	—	—	0.66	0.6

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	4.34%	3.93%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	33.5%	34.6%
Payout ratio	—	0%	0%	387.3%	0%	0%	—	—	—	—	0%
Dividend yield	—	0%	0%	11.6%	0%	0%	—	—	—	—	—

Yield

—

trailing twelve months

Frequency

—

Last dividend

$3.50

ex-dividend Nov 19, 2019

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Nov 19, 2019	$3.50

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$533M	$390M	$395M	$497M	$532M	$411M	$398M	$529M	$553M	$411M	$382.4M	$441.9M
YoY change	+16.1%	+10.2%	+6.47%	+0.61%	-0.19%	+5.38%	+0.76%	+6.44%	+3.95%	0%	-3.92%	-16.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	730M	708M	670M	319M	418M	723M	1B	1.1B	1.1B	1B
Receivables	189M	230M	205M	176M	70M	105M	173M	177M	187M	180M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	950M	993M	915M	533M	573M	940M	1.3B	1.3B	1.3B	1.3B
Property, plant & equipment	137M	140M	130M	344M	294M	257M	221M	206M	102M	89M
Goodwill & intangibles	1.8B	1.8B	1.7B	1.9B	1.9B	1.8B	1.7B	1.7B	1.9B	2.1B
Total assets	2.2B	2.3B	2.2B	2B	2B	2.3B	2.6B	2.5B	2.6B	2.6B
Accounts payable	14M	8M	15M	11M	18M	27M	39M	28M	49M	23M
Short-term debt	80M	7M	—	25M	26M	26M	20M	16M	18M	367M
Total current liabilities	423M	372M	393M	435M	242M	357M	533M	572M	628M	998M
Long-term debt	175M	314M	83M	142M	608M	927M	909M	896M	885M	884M
Total liabilities	736M	909M	696M	823M	1.1B	1.5B	1.7B	1.7B	1.6B	2B
Shareholders' equity	1.5B	1.4B	1.5B	1.2B	886M	789M	861M	871M	943M	645M
Total debt	255M	321M	83M	167M	634M	953M	929M	912M	903M	1.3B
Net debt	-357M	-352M	-572M	-152M	216M	230M	-92M	-155M	-161M	216M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.1B	1.1B	1.2B	1.2B	1.1B	1.1B	1.2B	1.2B	1.2B	1B	1.1B	843.2M
Receivables	214M	177M	223M	227M	220M	187M	229M	247M	226M	180M	178.6M	231.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.4B	1.3B	1.5B	1.5B	1.5B	1.3B	1.5B	1.5B	1.5B	1.3B	1.4B	1.4B
Property, plant & equipment	211M	206M	210M	208M	215M	102M	238M	252M	249M	89M	237.8M	183M
Goodwill & intangibles	1.7B	1.7B	1.7B	1.7B	1.7B	1.9B	1.7B	1.8B	1.8B	2.1B	1.7B	1.5B
Total assets	2.6B	2.5B	2.7B	2.8B	2.7B	2.6B	2.8B	2.9B	2.8B	2.6B	2.7B	2.5B
Accounts payable	70M	28M	60M	39M	75M	49M	61M	80M	65M	23M	61.5M	75.4M
Short-term debt	18M	16M	14M	13M	18M	18M	30M	367M	367M	367M	368M	21M
Total current liabilities	719M	572M	892M	916M	792M	628M	783M	1.2B	1.1B	998M	1.1B	898.9M
Long-term debt	899M	896M	903M	901M	891M	885M	1.2B	895M	890M	884M	878.1M	872.9M
Total liabilities	1.8B	1.7B	1.9B	1.9B	1.8B	1.6B	2.1B	2.2B	2.1B	2B	2.1B	1.9B
Shareholders' equity	823M	871M	825M	857M	944M	943M	643M	627M	707M	645M	623.7M	662.5M
Total debt	917M	912M	917M	914M	909M	903M	1.3B	1.3B	1.3B	1.3B	1.2B	893.9M
Net debt	-207M	-155M	-254M	-262M	-203M	-161M	114M	50M	39M	216M	125.7M	50.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	120M	-19M	113M	126M	-289M	-148M	20M	10M	5M	40M
Depreciation & amortization	101M	111M	116M	126M	125M	111M	97M	87M	85M	92M
Stock-based compensation	85M	96M	118M	124M	109M	120M	88M	96M	120M	108M
Change in working capital	25M	11M	46M	34M	-175M	47M	201M	52M	-69M	-19M
Operating cash flow	331M	248M	394M	413M	-220M	105M	394M	229M	136M	245M
Capital expenditure	—	—	—	—	—	—	—	—	—	-82M
Investing cash flow	-91M	70M	12M	-93M	-1M	0	4M	—	1M	-84M
Dividends paid	—	0	0	-488M	0	0	—	—	—	—
Share repurchases	-105M	-250M	-100M	-60M	-115M	0	0	-100M	-25M	-501M
Financing cash flow	-151M	-203M	-374M	-582M	-359M	255M	-27M	-127M	-63M	-197M
Net change in cash	89M	115M	32M	-262M	-580M	360M	371M	102M	74M	-36M
Free cash flow	249M	174M	344M	341M	-249M	54M	344M	172M	70M	163M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	27M	32M	-59M	24M	39M	1M	-11M	36M	44.3M	-38M	-32.4M	24.6M
Depreciation & amortization	21M	24M	22M	20M	21M	22M	21M	22.7M	33.2M	24M	24.6M	13M
Stock-based compensation	24M	24M	28M	33M	31M	28M	28M	29.1M	33.5M	23M	20.7M	14.6M
Change in working capital	167M	-68M	134M	-223M	-103M	-37M	56M	88.6M	-57.8M	-65M	99.4M	57.4M
Operating cash flow	240M	1M	139M	-161M	-25M	23M	102M	202.3M	44.5M	-103M	117.8M	143.7M
Capital expenditure	—	—	—	—	—	—	—	-25M	-28.7M	-19M	-16.5M	-6M
Investing cash flow	—	—	—	—	—	—	—	-25M	-28.5M	-19M	-16.5M	-6M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	-25M	—	—	0	0	—	—	-300K	-50M	—	—
Financing cash flow	-4M	-30M	-12M	-6M	-12M	-8M	-3M	323.3M	-9.4M	-60M	-9.5M	-349.6M
Net change in cash	236M	-29M	127M	-167M	-37M	15M	99M	500.6M	6.6M	-182M	91.8M	-211.9M
Free cash flow	-2M	-35M	123M	36M	-63M	-26M	83M	177.3M	15.8M	-122M	101.3M	137.7M

Tripadvisor, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement