Debt-to-Equity Ratio

With a debt-to-equity ratio of 7.76x, EXPE carries $7.76 of total debt for every $1 of shareholder equity — a measure of financial leverage showing heavy reliance on borrowing.

This far exceeds the sector median of 0.73x, placing the company in the 99th percentile among peers, meaning nearly all competitors operate with lower leverage. While the metric has been increasing over the last eight quarters, the most recent quarter-over-quarter change was a 5.0% decline from 8.17x to 7.76x; year-over-year data is not available. The combination of an extreme level relative to peers with a recent downward tick suggests high leverage risk persists, but the slight reduction may indicate early deleveraging. This high debt load aligns with a cautious stance, yet the recent improvement does not contradict the overall NEUTRAL verdict — the elevated level supports a neutral rather than bullish view, while the declining trend tempers outright bearishness.

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