Tripadvisor, Inc. (TRIP) 10-Year Financial Performance & Capital Metrics

TRIP • • Industrial / General

Consumer CyclicalTravel ServicesAlternative Accommodations PlatformsVacation Rental Platforms

AboutTripAdvisor, Inc. operates as an online travel company. It operates in two segments, Hotels, Media & Platform; and Experiences & Dining. The company operates TripAdvisor-branded websites, including tripadvisor.com in the United States; and localized versions of the website in 40 markets and 20 languages. It also manages and operates other travel media brands that provide users the comprehensive travel-planning and trip-taking resources in the travel industry, such as bokun.io, cruisecritic.com, flipkey.com, thefork.com, helloreco.com, holidaylettings.co.uk, holidaywatchdog.com, housetrip.com, jetsetter.com, niumba.com, seatguru.com, singleplatform.com, vacationhomerentals.com, and viator.com. In addition, the company provides information and services for consumers to research and book restaurants reservation in travel destinations; and vacation and short-term rental properties, including full home, condominiums, villas, beach properties, cabins, and cottages. As of December 31, 2020, it featured 1 billion reviews and opinions on 1 billion hotels and other accommodations, restaurants, experiences, airlines, and cruises. TripAdvisor, Inc. was founded in 2000 and is headquartered in Needham, Massachusetts.Show more

Revenue $1.83B +2.6%
EBITDA $177M -16.9%
Net Income $5M -50.0%
EPS (Diluted) 0.03 -51.9%
Gross Margin 92.86% +1.3%
EBITDA Margin 9.65% -19.0%
Operating Margin 5.01% -28.9%
Net Margin 0.27% -51.3%
ROE 0.55% -52.3%
ROIC 9.21% -27.6%
Debt/Equity 0.96 -8.5%
Interest Coverage 2.00 -30.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak 3Y average ROE of 1.4%
✗Profits declining 47.6% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.95%

5Y3.3%

3Y26.71%

TTM4.24%

Profit (Net Income) CAGR

10Y-31.69%

5Y-47.55%

3Y-

TTM119.44%

EPS CAGR

10Y-31.65%

5Y-47.91%

3Y-

TTM177.78%

ROCE

10Y Avg3.96%

5Y Avg-2.23%

3Y Avg5.37%

Latest4.72%

Peer Comparison

Vacation Rental Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TRIPTripadvisor, Inc.	1.64B	13.99	405.51	2.63%	4.18%	11.17%	4.28%	0.96
ABNBAirbnb, Inc.	56.39B	132.60	32.26	11.95%	22.03%	30.56%	8.01%	0.27

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.49B	1.48B	1.56B	1.61B	1.56B	604M	902M	1.49B	1.79B	1.83B
Revenue Growth %	0.2%	-0.01%	0.05%	0.04%	-0.03%	-0.61%	0.49%	0.65%	0.2%	0.03%
Cost of Goods Sold+	58M	71M	72M	86M	94M	55M	74M	116M	149M	131M
COGS % of Revenue	0.04%	0.05%	0.05%	0.05%	0.06%	0.09%	0.08%	0.08%	0.08%	0.07%
Gross Profit+	1.43B	1.41B	1.48B	1.53B	1.47B	549M	828M	1.38B	1.64B	1.7B
Gross Margin %	0.96%	0.95%	0.95%	0.95%	0.94%	0.91%	0.92%	0.92%	0.92%	0.93%
Gross Profit Growth %	0.19%	-0.02%	0.05%	0.03%	-0.04%	-0.63%	0.51%	0.66%	0.19%	0.04%
Operating Expenses+	1.2B	1.24B	1.36B	1.35B	1.28B	878M	959M	1.27B	1.51B	1.61B
OpEx % of Revenue	0.81%	0.84%	0.87%	0.83%	0.82%	1.45%	1.06%	0.85%	0.85%	0.88%
Selling, General & Admin	1.11B	1.14B	1.25B	1.23B	1.15B	489M	636M	642M	784M	1.42B
SG&A % of Revenue	0.74%	0.77%	0.8%	0.76%	0.74%	0.81%	0.71%	0.43%	0.44%	0.77%
Research & Development	207M	243M	243M	275M	294M	224M	212M	222M	273M	0
R&D % of Revenue	0.14%	0.16%	0.16%	0.17%	0.19%	0.37%	0.24%	0.15%	0.15%	-
Other Operating Expenses	7M	-15M	-14M	-159M	-168M	165M	111M	411M	456M	197M
Operating Income+	232M	166M	124M	183M	187M	-329M	-131M	101M	126M	92M
Operating Margin %	0.16%	0.11%	0.08%	0.11%	0.12%	-0.54%	-0.15%	0.07%	0.07%	0.05%
Operating Income Growth %	-0.32%	-0.28%	-0.25%	0.48%	0.02%	-2.76%	0.6%	1.77%	0.25%	-0.27%
EBITDA+	325M	267M	235M	299M	313M	-204M	-20M	198M	213M	177M
EBITDA Margin %	0.22%	0.18%	0.15%	0.19%	0.2%	-0.34%	-0.02%	0.13%	0.12%	0.1%
EBITDA Growth %	-0.2%	-0.18%	-0.12%	0.27%	0.05%	-1.65%	0.9%	10.9%	0.08%	-0.17%
D&A (Non-Cash Add-back)	93M	101M	111M	116M	126M	125M	111M	97M	87M	85M
EBIT	249M	166M	124M	183M	201M	-334M	-140M	111M	169M	133M
Net Interest Income+	7M	-11M	-14M	-5M	10M	-32M	-44M	-29M	3M	2M
Interest Income	17M	1M	1M	7M	17M	3M	1M	15M	47M	48M
Interest Expense	10M	12M	15M	12M	7M	35M	45M	44M	44M	46M
Other Income/Expense	7M	-15M	-14M	-10M	7M	-40M	-54M	-34M	-1M	-5M
Pretax Income+	239M	151M	110M	173M	194M	-369M	-185M	67M	125M	87M
Pretax Margin %	0.16%	0.1%	0.07%	0.11%	0.12%	-0.61%	-0.21%	0.04%	0.07%	0.05%
Income Tax+	41M	31M	129M	60M	68M	-80M	-37M	47M	115M	82M
Effective Tax Rate %	0.83%	0.79%	-0.17%	0.65%	0.65%	0.78%	0.8%	0.3%	0.08%	0.06%
Net Income+	198M	120M	-19M	113M	126M	-289M	-148M	20M	10M	5M
Net Margin %	0.13%	0.08%	-0.01%	0.07%	0.08%	-0.48%	-0.16%	0.01%	0.01%	0%
Net Income Growth %	-0.12%	-0.39%	-1.16%	6.95%	0.12%	-3.29%	0.49%	1.14%	-0.5%	-0.5%
Net Income (Continuing)	198M	120M	-19M	113M	126M	-289M	-148M	20M	10M	5M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.36	0.82	-0.14	0.81	0.90	-2.14	-1.08	0.14	0.07	0.03
EPS Growth %	-0.12%	-0.4%	-1.17%	6.79%	0.11%	-3.38%	0.5%	1.13%	-0.49%	-0.52%
EPS (Basic)	1.38	0.83	-0.14	0.82	0.91	-2.14	-1.08	0.14	0.07	0.04
Diluted Shares Outstanding	146M	147M	140M	140M	140.66M	134.86M	137.23M	145.67M	139.41M	145M
Basic Shares Outstanding	144M	145M	135.71M	138M	138.97M	134.86M	137.23M	139.92M	139.41M	139M
Dividend Payout Ratio	-	-	-	-	3.87%	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	865M	950M	993M	915M	533M	573M	940M	1.27B	1.3B	1.32B
Cash & Short-Term Investments	661M	730M	708M	670M	319M	418M	723M	1.02B	1.07B	1.06B
Cash Only	614M	612M	673M	655M	319M	418M	723M	1.02B	1.07B	1.06B
Short-Term Investments	47M	118M	35M	15M	0	0	0	0	0	0
Accounts Receivable	180M	189M	260M	212M	183M	133M	191M	205M	192M	207M
Days Sales Outstanding	44.03	46.61	60.99	47.91	42.82	80.37	77.29	50.15	39.19	41.17
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	24M	0	0	0	29M	0	0	44M	38M	49M
Total Non-Current Assets+	1.26B	1.29B	1.28B	1.25B	1.45B	1.4B	1.35B	1.3B	1.24B	1.24B
Property, Plant & Equipment	247M	260M	263M	253M	344M	294M	257M	221M	206M	102M
Fixed Asset Turnover	6.04x	5.69x	5.92x	6.38x	4.53x	2.05x	3.51x	6.75x	8.68x	17.99x
Goodwill	732M	736M	758M	756M	840M	862M	843M	822M	829M	814M
Intangible Assets	176M	167M	142M	118M	110M	86M	65M	51M	43M	151M
Long-Term Investments	37M	16M	27M	12M	55M	40M	36M	34M	32M	30M
Other Non-Current Assets	56M	67M	73M	86M	95M	104M	94M	93M	44M	43M
Total Assets+	2.13B	2.24B	2.27B	2.17B	1.98B	1.97B	2.29B	2.57B	2.54B	2.56B
Asset Turnover	0.70x	0.66x	0.68x	0.75x	0.79x	0.31x	0.39x	0.58x	0.70x	0.72x
Asset Growth %	0.09%	0.05%	0.02%	-0.05%	-0.08%	-0.01%	0.16%	0.12%	-0.01%	0.01%
Total Current Liabilities+	312M	423M	372M	393M	435M	242M	357M	533M	572M	628M
Accounts Payable	10M	14M	8M	15M	11M	18M	27M	39M	28M	49M
Days Payables Outstanding	62.93	71.97	40.56	63.66	42.71	119.45	133.18	122.72	68.59	136.53
Short-Term Debt	1M	80M	7M	0	0	0	0	0	0	5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	190M	212M	232M	241M	249M	53M	51M	349M	403M	66M
Current Ratio	2.77x	2.25x	2.67x	2.33x	1.23x	2.37x	2.63x	2.38x	2.27x	2.10x
Quick Ratio	2.77x	2.25x	2.67x	2.33x	1.23x	2.37x	2.63x	2.38x	2.27x	2.10x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	404M	313M	537M	303M	388M	841M	1.14B	1.18B	1.09B	990M
Long-Term Debt	200M	91M	230M	0	0	491M	833M	836M	839M	831M
Capital Lease Obligations	84M	84M	84M	83M	142M	117M	94M	73M	57M	54M
Deferred Tax Liabilities	15M	12M	14M	21M	8M	10M	1M	1M	1M	1M
Other Non-Current Liabilities	105M	126M	209M	199M	202M	190M	184M	237M	172M	81M
Total Liabilities	716M	736M	909M	696M	823M	1.08B	1.5B	1.71B	1.67B	1.62B
Total Debt+	201M	171M	237M	83M	167M	634M	953M	929M	912M	903M
Net Debt	-413M	-441M	-436M	-572M	-152M	216M	230M	-92M	-155M	-161M
Debt / Equity	0.14x	0.11x	0.17x	0.06x	0.14x	0.72x	1.21x	1.08x	1.05x	0.96x
Debt / EBITDA	0.62x	0.64x	1.01x	0.28x	0.53x	-	-	4.69x	4.28x	5.10x
Net Debt / EBITDA	-1.27x	-1.65x	-1.86x	-1.91x	-0.49x	-	-	-0.46x	-0.73x	-0.91x
Interest Coverage	23.20x	13.83x	8.27x	15.25x	26.71x	-9.40x	-2.91x	2.30x	2.86x	2.00x
Total Equity+	1.41B	1.5B	1.36B	1.47B	1.16B	886M	789M	861M	871M	943M
Equity Growth %	0.26%	0.06%	-0.09%	0.08%	-0.21%	-0.24%	-0.11%	0.09%	0.01%	0.08%
Book Value per Share	9.67	10.22	9.74	10.51	8.25	6.57	5.75	5.91	6.25	6.50
Total Shareholders' Equity	1.41B	1.5B	1.36B	1.47B	1.16B	886M	789M	861M	871M	943M
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	826M	945M	926M	1.04B	681M	389M	241M	261M	271M	276M
Treasury Stock	-92M	-197M	-447M	-547M	-607M	-722M	-722M	-722M	-822M	-847M
Accumulated OCI	-63M	-77M	-42M	-62M	-63M	-34M	-56M	-82M	-71M	-91M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	382M	321M	238M	405M	424M	-194M	108M	400M	235M	144M
Operating CF Margin %	0.26%	0.22%	0.15%	0.25%	0.27%	-0.32%	0.12%	0.27%	0.13%	0.08%
Operating CF Growth %	-0.01%	-0.16%	-0.26%	0.7%	0.05%	-1.46%	1.56%	2.7%	-0.41%	-0.39%
Net Income	198M	120M	-19M	113M	126M	-289M	-148M	20M	10M	5M
Depreciation & Amortization	93M	101M	111M	116M	126M	125M	111M	97M	87M	85M
Stock-Based Compensation	72M	85M	96M	118M	124M	109M	120M	88M	96M	120M
Deferred Taxes	-37M	-20M	29M	12M	6M	-1M	-44M	-19M	-25M	-14M
Other Non-Cash Items	20M	10M	10M	328M	8M	37M	22M	13M	15M	17M
Working Capital Changes	36M	25M	11M	46M	34M	-175M	47M	201M	52M	-69M
Change in Receivables	-31M	-24M	-36M	-8M	23M	92M	-73M	-87M	6M	-24M
Change in Inventory	32M	20M	0	0	0	-92M	0	0	0	0
Change in Payables	13M	7M	0	22M	-1M	-28M	30M	72M	11M	13M
Cash from Investing+	-60M	-163M	6M	-49M	-176M	-56M	-54M	-52M	-63M	-73M
Capital Expenditures	-109M	-72M	-64M	-61M	-83M	-55M	-54M	-56M	-63M	-74M
CapEx % of Revenue	0.07%	0.05%	0.04%	0.04%	0.05%	0.09%	0.06%	0.04%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	80M	2M	-64M	-12M	0	3M	0	4M	0	1M
Cash from Financing+	-153M	-143M	-200M	-358M	-580M	341M	263M	-27M	-127M	-63M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-488M	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-25M	7M	3M	-26M	-27M	-38M	-71M	0	-20M	-22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	273M	249M	174M	344M	341M	-249M	54M	344M	172M	70M
FCF Margin %	0.18%	0.17%	0.11%	0.21%	0.22%	-0.41%	0.06%	0.23%	0.1%	0.04%
FCF Growth %	-0.11%	-0.09%	-0.3%	0.98%	-0.01%	-1.73%	1.22%	5.37%	-0.5%	-0.59%
FCF per Share	1.87	1.69	1.24	2.46	2.42	-1.85	0.39	2.36	1.23	0.48
FCF Conversion (FCF/Net Income)	1.93x	2.68x	-12.53x	3.58x	3.37x	0.67x	-0.73x	20.00x	23.50x	28.80x
Interest Paid	7M	10M	13M	8M	6M	13M	43M	0	39M	58M
Taxes Paid	43M	29M	62M	53M	47M	3M	5M	0	140M	170M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.61%	8.24%	-1.33%	7.97%	9.57%	-28.24%	-17.67%	2.42%	1.15%	0.55%
Return on Invested Capital (ROIC)	17.34%	12.09%	9.36%	15.03%	14.7%	-23.38%	-9.26%	8.47%	12.73%	9.21%
Gross Margin	96.11%	95.2%	95.37%	94.67%	93.97%	90.89%	91.8%	92.23%	91.67%	92.86%
Net Margin	13.27%	8.11%	-1.22%	7%	8.08%	-47.85%	-16.41%	1.34%	0.56%	0.27%
Debt / Equity	0.14x	0.11x	0.17x	0.06x	0.14x	0.72x	1.21x	1.08x	1.05x	0.96x
Interest Coverage	23.20x	13.83x	8.27x	15.25x	26.71x	-9.40x	-2.91x	2.30x	2.86x	2.00x
FCF Conversion	1.93x	2.68x	-12.53x	3.58x	3.37x	0.67x	-0.73x	20.00x	23.50x	28.80x
Revenue Growth	19.74%	-0.8%	5.14%	3.79%	-3.41%	-61.28%	49.34%	65.41%	19.84%	2.63%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Other Operating	-	-	-	-	-	-	-	-	-	45M
Other Operating Growth	-	-	-	-	-	-	-	-	-	-
Others	-	-	-	-	-	-	-	52M	51M	-
Others Growth	-	-	-	-	-	-	-	-	-1.92%	-
Hotels Media And Platform	-	-	-	-	779M	292M	549M	-	-	-
Hotels Media And Platform Growth	-	-	-	-	-	-62.52%	88.01%	-	-	-
Experiences And Dining	-	-	-	-	456M	186M	307M	-	-	-
Experiences And Dining Growth	-	-	-	-	-	-59.21%	65.05%	-	-	-
All Others	-	-	-	-	165M	57M	46M	-	-	-
All Others Growth	-	-	-	-	-	-65.45%	-19.30%	-	-	-
Non Hotel	-	290M	360M	458M	-	-	-	-	-	-
Non Hotel Growth	-	-	24.14%	27.22%	-	-	-	-	-	-
Hotel	-	282M	292M	308M	-	-	-	-	-	-
Hotel Growth	-	-	3.55%	5.48%	-	-	-	-	-	-
Click Based Advertising	956M	-	-	-	-	-	-	-	-	-
Click Based Advertising Growth	-	-	-	-	-	-	-	-	-	-
Subscription Transaction And Other	377M	-	-	-	-	-	-	-	-	-
Subscription Transaction And Other Growth	-	-	-	-	-	-	-	-	-	-
Display Based Advertising	159M	-	-	-	-	-	-	-	-	-
Display Based Advertising Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	799M	877M	835M	821M	302M	526M	905M	1.2B	1.23B
UNITED STATES Growth	-	-	9.76%	-4.79%	-1.68%	-63.22%	74.17%	72.05%	32.38%	2.67%
UNITED KINGDOM	-	-	-	-	-	-	259M	402M	349M	334M
UNITED KINGDOM Growth	-	-	-	-	-	-	-	55.21%	-13.18%	-4.30%
All Other Countries	538M	471M	470M	272M	273M	133M	117M	185M	241M	271M
All Other Countries Growth	-	-12.45%	-0.21%	-42.13%	0.37%	-51.28%	-12.03%	58.12%	30.27%	12.45%
U S	739M	-	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Tripadvisor, Inc. (TRIP) has a price-to-earnings (P/E) ratio of 405.5x. This suggests investors expect higher future growth.

Growth & Financials

Tripadvisor, Inc. (TRIP) reported $1.89B in revenue for fiscal year 2024. This represents a 197% increase from $637.1M in 2011.

Tripadvisor, Inc. (TRIP) grew revenue by 2.6% over the past year. Growth has been modest.

Yes, Tripadvisor, Inc. (TRIP) is profitable, generating $79.0M in net income for fiscal year 2024 (0.3% net margin).

Dividend & Returns

Tripadvisor, Inc. (TRIP) has a return on equity (ROE) of 0.6%. This is below average, suggesting room for improvement.

Tripadvisor, Inc. (TRIP) generated $259.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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