Latest Ratios: P/E Ratio 44.8x · EV/EBITDA 10.6x · ROE 5.0%. (2009–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.6B | $1.9B | $2.1B | $3.0B | $2.6B | $3.7B | $3.9B | $4.3B | $7.6B | $4.8B | $6.8B |
| Enterprise Value | $1.8B | $2.1B | $2.0B | $2.8B | $2.5B | $4.0B | $4.1B | $4.1B | $7.0B | $4.4B | $6.4B |
| P/E Ratio → | 44.77 | 46.97 | 428.12 | 300.28 | 128.43 | — | — | 33.76 | 66.59 | — | 56.55 |
| P/S Ratio | 0.85 | 1.01 | 1.17 | 1.68 | 1.76 | 4.15 | 6.43 | 2.74 | 4.68 | 3.10 | 4.61 |
| P/B Ratio | 2.82 | 2.96 | 2.27 | 3.45 | 3.04 | 4.74 | 4.38 | 3.68 | 5.13 | 3.54 | 4.54 |
| P/FCF | 9.91 | 11.70 | 30.59 | 17.45 | 7.61 | 69.28 | — | 12.53 | 21.95 | 27.73 | 27.38 |
| P/OCF | 6.59 | 7.79 | 14.87 | 12.77 | 6.55 | 34.64 | — | 10.08 | 18.65 | 20.27 | 21.23 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.12 | 1.08 | 1.59 | 1.69 | 4.40 | 6.78 | 2.64 | 4.32 | 2.82 | 4.31 |
| EV / EBITDA | 10.56 | 12.26 | 11.19 | 13.36 | 12.76 | — | — | 13.17 | 23.34 | 18.67 | 23.88 |
| EV / EBIT | 22.71 | 17.15 | 14.89 | 16.84 | 22.77 | — | — | 20.50 | 38.14 | 35.39 | 38.41 |
| EV / FCF | — | 12.94 | 28.30 | 16.55 | 7.35 | 73.54 | — | 12.09 | 20.29 | 25.22 | 25.60 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.0% | 62.0% | 92.9% | 91.7% | 92.2% | 91.8% | 90.9% | 94.0% | 94.7% | 95.4% | 95.2% |
| Operating Margin | 4.2% | 4.2% | 5.0% | 7.0% | 6.8% | -14.5% | -54.5% | 12.0% | 11.3% | 8.0% | 11.2% |
| Net Profit Margin | 2.1% | 2.1% | 0.3% | 0.6% | 1.3% | -16.4% | -47.8% | 8.1% | 7.0% | -1.2% | 8.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.0% | 5.0% | 0.6% | 1.2% | 2.4% | -17.7% | -28.2% | 9.6% | 8.0% | -1.3% | 8.2% |
| ROA | 1.5% | 1.5% | 0.2% | 0.4% | 0.8% | -7.0% | -14.6% | 6.1% | 5.1% | -0.8% | 5.5% |
| ROIC | 7.4% | 7.4% | 9.2% | 12.7% | 8.5% | -9.3% | -23.4% | 14.7% | 15.0% | 9.4% | 12.1% |
| ROCE | 4.5% | 4.5% | 4.7% | 6.3% | 5.1% | -7.2% | -20.1% | 11.3% | 10.0% | 6.7% | 9.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.92 | 1.92 | 0.96 | 1.05 | 1.08 | 1.21 | 0.72 | 0.14 | 0.06 | 0.17 | 0.11 |
| Debt / EBITDA | 7.19 | 7.19 | 5.10 | 4.28 | 4.69 | — | — | 0.53 | 0.28 | 1.01 | 0.64 |
| Net Debt / Equity | — | 0.31 | -0.17 | -0.18 | -0.11 | 0.29 | 0.24 | -0.13 | -0.39 | -0.32 | -0.29 |
| Net Debt / EBITDA | 1.17 | 1.17 | -0.91 | -0.73 | -0.46 | — | — | -0.49 | -1.91 | -1.86 | -1.65 |
| Debt / FCF | — | 1.24 | -2.30 | -0.90 | -0.27 | 4.26 | — | -0.45 | -1.66 | -2.51 | -1.77 |
| Interest Coverage | 1.95 | 1.95 | 2.89 | 3.84 | 2.52 | -3.11 | -9.54 | 28.71 | 15.25 | 8.27 | 13.83 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.29 | 1.29 | 2.10 | 2.27 | 2.38 | 2.63 | 2.37 | 1.23 | 2.33 | 2.67 | 2.25 |
| Quick Ratio | 1.29 | 1.29 | 2.10 | 2.27 | 2.38 | 2.63 | 2.37 | 1.23 | 2.33 | 2.67 | 2.25 |
| Cash Ratio | 1.04 | 1.04 | 1.69 | 1.87 | 1.92 | 2.03 | 1.73 | 0.73 | 1.70 | 1.90 | 1.73 |
| Asset Turnover | — | 0.72 | 0.72 | 0.70 | 0.58 | 0.39 | 0.31 | 0.79 | 0.75 | 0.68 | 0.66 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 40.34 | 41.17 | 39.19 | 50.15 | 77.29 | 80.37 | 42.82 | 47.91 | 60.99 | 46.61 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 11.4% | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 387.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 2.1% | 0.2% | 0.3% | 0.8% | — | — | 3.0% | 1.5% | — | 1.8% |
| FCF Yield | 10.1% | 8.5% | 3.3% | 5.7% | 13.1% | 1.4% | — | 8.0% | 4.6% | 3.6% | 3.7% |
| Buyback Yield | 32.3% | 27.3% | 1.2% | 3.3% | 0.8% | 0.0% | 3.0% | 1.4% | 1.3% | 5.2% | 1.5% |
| Total Shareholder Yield | 32.3% | 27.3% | 1.2% | 3.3% | 0.8% | 0.0% | 3.0% | 12.8% | 1.3% | 5.2% | 1.5% |
| Shares Outstanding | — | $131M | $145M | $139M | $146M | $137M | $135M | $141M | $140M | $140M | $147M |
Search Engine Traffic Volatility
According to recent market data, Tripadvisor trades at a forward P/E of 10.44, which appears to discount the company's long-term growth prospects significantly compared to higher-multiple peers like Airbnb, suggesting that investors remain skeptical of the core business's ability to defend its market share against search engine giants.
The current valuation multiples, particularly the low forward EV/EBITDA of 4.17, imply that the market views the company as a value trap rather than a growth-oriented marketplace. This pricing warrants caution, as it suggests that any further contraction in organic traffic could lead to a permanent downward re-rating of the stock.
Based on reported financial figures, Tripadvisor's ROIC has trended into negative territory, reaching -2.0% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital, a stark reversal from the positive returns observed in previous fiscal years.
The decay in ROIC appears driven by both margin compression and an inability to optimize the asset base effectively. Investors should monitor whether management can pivot toward higher-margin revenue streams, as the current trend suggests that capital is being deployed into projects that are not creating long-term shareholder value.
As reported in recent SEC filings, Tripadvisor's asset turnover ratio remains suppressed at 0.14, highlighting a structural inefficiency in how the company utilizes its balance sheet to generate revenue compared to more agile, high-growth digital marketplace competitors within the broader travel and leisure industry.
The persistent DSO levels around 50 days suggest that the company faces challenges in accelerating its cash conversion cycle, likely due to the complexity of its multi-segment business model. This inefficiency limits the company's ability to self-fund growth and increases its reliance on external financing during periods of seasonal demand volatility.
Based on the company's reported figures, the debt-to-equity ratio has climbed to 2.00 as of 2026Q1, indicating that Tripadvisor's financial leverage has reached a level that may limit management's ability to pursue aggressive M&A or capital return strategies without further straining the company's already weakened equity base.
The rising leverage, combined with inconsistent interest coverage ratios, suggests that the company's debt service capacity is becoming increasingly sensitive to operational downturns. This vulnerability warrants further investigation, as the current capital structure provides little room for error in a highly competitive and capital-intensive digital advertising environment.
As indicated by financial statements, the P/E ratio is a fundamentally flawed metric for evaluating Tripadvisor, as it is heavily distorted by significant stock-based compensation and non-recurring amortization charges that obscure the true cash-generating capacity of the company's core hotel and experiences segments.
Analysts should instead prioritize EV/EBITDA or P/FCF to better understand the underlying operational performance, as these metrics strip away the accounting noise that currently makes the company appear cheaper than it truly is. Relying on P/E in this context risks ignoring the structural costs of talent retention and the ongoing need for heavy marketing reinvestment.
Includes 30+ ratios · 17 years · Updated daily
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Quick answers to the most common questions about buying TRIP stock.
Tripadvisor, Inc.'s current P/E ratio is 44.8x. The historical average is 55.2x. This places it at the 30th percentile of its historical range.
Tripadvisor, Inc.'s current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.0x.
Tripadvisor, Inc.'s return on equity (ROE) is 5.0%. The historical average is 11.1%.
Based on historical data, Tripadvisor, Inc. is trading at a P/E of 44.8x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tripadvisor, Inc. has 62.0% gross margin and 4.2% operating margin.
Tripadvisor, Inc.'s Debt/EBITDA ratio is 7.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.