Expedia Group (MEX:EXPE) Beneish M-Score: -2.87 (As of Jul. 06, 2026)

What is Expedia Group Beneish M-Score?

Expedia Group MEX:EXPE 77 Beneish M-Score is -2.87 as of Jul. 06, 2026. GuruFocus rates MEX:EXPE with a GF Score™ of 77/100 and a GF Value™ of MXN3,654.82 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 823 Travel & Leisure companies, Expedia Group ranks better than 70.35% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Expedia Group's Beneish M-Score or its related term are showing as below:

MEX:EXPE' s Beneish M-Score Range Over the Past 10 Years
Min: -2.87 Med: -2.66 Max: -1.64
Current: -2.87

During the past 13 years, the highest Beneish M-Score of Expedia Group was -1.64. The lowest was -2.87. And the median was -2.66.

Expedia Group Beneish M-Score Related Terms

Expedia Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Expedia Group's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Expedia Group Beneish M-Score Chart

Expedia Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.86

-2.64

-2.55

-2.74

-2.68

Expedia Group Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.67	-2.59	-2.76	-2.68	-2.87

MEX:EXPE vs TCOM, CCL, VIK: Beneish M-Score Comparison

For the Travel Services subindustry, Expedia Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Expedia Group Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Expedia Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Expedia Group's Beneish M-Score falls into.

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77GF Score

Expedia Group Inc MEX:EXPE

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Expedia Group Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Expedia Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9976

0.528 * 0.9917

0.404 * 0.9661

0.892 * 1.0191

0.115 * 0.9224

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9629

4.679 * -0.107693

0.327 * 1.0198

-3.00

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was MXN93,842 Mil.
Revenue was 61780.03 + 63866.218 + 80934.61 + 71287.351 = MXN277,868 Mil.
Gross Profit was 54981.702 + 57636.246 + 74037.191 + 64188.743 = MXN250,844 Mil.
Total Current Assets was MXN255,217 Mil.
Total Assets was MXN477,127 Mil.
Property, Plant and Equipment(Net PPE) was MXN48,851 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN16,399 Mil.
Selling, General, & Admin. Expense(SGA) was MXN166,059 Mil.
Total Current Liabilities was MXN349,149 Mil.
Long-Term Debt & Capital Lease Obligation was MXN84,862 Mil.
Net Income was -108.196 + 3691.169 + 17592.088 + 6213.636 = MXN27,389 Mil.
Non Operating Income was -3011.461 + -4159.317 + -73.377 + -2334.821 = MXN-9,579 Mil.
Cash Flow from Operations was 70886.544 + 5473.733 + -9117.067 + 21107.533 = MXN88,351 Mil.

Total Receivables was MXN92,307 Mil.
Revenue was 61129.102 + 66404.549 + 79942.618 + 65182.927 = MXN272,659 Mil.
Gross Profit was 53825.524 + 59417.889 + 72302.782 + 58551.049 = MXN244,097 Mil.
Total Current Assets was MXN277,966 Mil.
Total Assets was MXN534,245 Mil.
Property, Plant and Equipment(Net PPE) was MXN55,708 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN16,812 Mil.
Selling, General, & Admin. Expense(SGA) was MXN169,223 Mil.
Total Current Liabilities was MXN379,970 Mil.
Long-Term Debt & Capital Lease Obligation was MXN96,583 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(93842.171 / 277868.209)	/	(92307.398 / 272659.196)
	=	0.337722	/	0.338545
	=	0.9976

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(244097.244 / 272659.196)	/	(250843.882 / 277868.209)
	=	0.895247	/	0.902744
	=	0.9917

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (255216.803 + 48850.584) / 477127.21)	/	(1 - (277965.564 + 55707.679) / 534245.435)
	=	0.362712	/	0.375431
	=	0.9661

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	277868.209	/	272659.196
	=	1.0191

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(16812.028 / (16812.028 + 55707.679))	/	(16399.067 / (16399.067 + 48850.584))
	=	0.231827	/	0.251328
	=	0.9224

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(166058.562 / 277868.209)	/	(169223.229 / 272659.196)
	=	0.597616	/	0.62064
	=	0.9629

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((84861.886 + 349149.138) / 477127.21)	/	((96583.162 + 379970.149) / 534245.435)
	=	0.909634	/	0.892012
	=	1.0198

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(27388.697 - -9578.976	-	88350.743)	/	477127.21
	=	-0.107693

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Expedia Group has a M-score of -3.00 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.87 mean?

Expedia Group (MEX:EXPE) has a Beneish M-Score of -2.87 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Expedia Group and its competitors. According to the industry distribution chart, Expedia Group ranks #244 out of 823 companies in the Travel & Leisure industry, placing it in the top 29.6%.

Is Expedia Group's Beneish M-Score too high?

Expedia Group's current Beneish M-Score is -2.87. Based on the distribution chart, Expedia Group ranks #244 out of 823 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Expedia Group has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Expedia Group's Beneish M-Score compare to TCOM and CCL?

According to the Travel & Leisure industry distribution chart, Expedia Group ranks #244 out of 823 companies for Beneish M-Score. This puts Expedia Group in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Travel & Leisure company?

A good Beneish M-Score depends on the Travel & Leisure industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Expedia Group and its competitors. Expedia Group's current Beneish M-Score is -2.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Expedia Group stock overvalued right now?

Based on GuruFocus' analysis, Expedia Group (MEX:EXPE) is currently considered Modestly Overvalued. The stock's GF Value™ is MXN3,654.82, compared to a current price of MXN4,692.00 — trading 28.4% above its estimated fair value. The current Beneish M-Score is -2.87. Expedia Group's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Expedia Group (MEX:EXPE), the current Beneish M-Score is -2.87 as of Jul. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Expedia Group (MEX:EXPE) Overvalued in 2026?

Based on GuruFocus' analysis, Expedia Group stock appears to be overvalued. The current stock price of MXN4,692.00 is trading 28.4% above its estimated GF Value™ of MXN3,654.82. GuruFocus considers Expedia Group to be Modestly Overvalued.

Key valuation signals for MEX:EXPE:

Beneish M-Score: -2.87
GF Value™: MXN3,654.82 vs. price of MXN4,692.00 (28.4% above fair value)
GF Score™: 77/100 with 5 warning signs

No single metric tells the full story. See the MEX:EXPE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Expedia Group Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies TCOM CCL VIK NCLH MMYT GBTG TNL LIND TRIP PRSU BKNG ABNB RCL XTER:TUI1 BOM:542830 HKSE:00780 LSE:JET2 XMAD:HBX ASX:FLT NSE:TBOTEK

Other Exchanges EXPE:USA 1EXPE:Italy 0R1T:UK E3X1:Germany EXGR34:Brazil EXPE:Austria

Address 1111 Expedia Group Way W, Seattle, WA, USA, 98119

Website https://www.expediagroup.com

Expedia is the world's second-largest online travel agency by bookings, offering services for lodging (80% of total 2025 sales), air tickets (3%), rental cars, cruises, in-destination, and other (9%), and advertising revenue (8%). Expedia operates a number of branded travel booking sites, but its three core online travel agency brands are Expedia, Hotels.com, and alternative accommodations brand Vrbo. It also has a metasearch brand, Trivago. Transaction fees for online bookings account for the bulk of sales and profits.

77GF Score

Get the complete analysis for MEX:EXPE

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN4,692.00

Price

MXN3,654.82

GF Value

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