TripAdvisor Inc Stock Research

Market Summary

USD19.02+0.55

Market Closed

2.98%

TRIP Alerts

1 major insider sales recently.
Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)
Losses in recent quarter

TRIP Stock Price

TRIP RSI Chart

TRIP Valuation

Market Cap

2.4B

Price/Earnings (Trailing)

121.77

Price/Sales (Trailing)

1.63

EV/EBITDA

6.9

Price/Free Cashflow

6.09

TRIP Price/Sales (Trailing)

TRIP Profitability

EBT Margin

4.49%

Return on Equity

2.32%

Return on Assets

0.78%

Free Cashflow Yield

16.42%

TRIP Fundamentals

TRIP Revenue

Revenue (TTM)

1.5B

Revenue Y/Y

46.89%

Revenue Q/Q

-22.88%

TRIP Earnings

Earnings (TTM)

20.0M

Earnings Y/Y

93.1%

Earnings Q/Q

-108%

Price Action

52 Week Range

16.8728.28

(Low)(High)

Last 7 days

-11.3%

Last 30 days

-24.4%

Last 90 days

1.7%

Trailing 12 Months

-23.3%

TRIP Financial Health

Current Ratio

2.38

TRIP Investor Care

Shares Dilution (1Y)

1.78%

Diluted EPS (TTM)

0.14

Peers (Alternatives to TripAdvisor)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
GOOG	1.3T	282.8B	1.63%	-25.54%	21.65	4.59	9.78%	-21.12%
TWTR	41.4B	5.2B	27.58%	-2.03%	-370.37	7.92	17.45%	-129.08%
SNAP	18.0B	4.6B	-3.45%	-65.04%	-12.61	3.92	11.78%	-192.99%
PINS	17.8B	2.8B	1.34%	10.07%	-184.84	6.33	8.71%	-130.35%
MID-CAP
TRIP	2.4B	1.5B	-24.37%	-23.30%	121.77	1.63	65.41%	113.51%
SMALL-CAP
CARG	2.1B	1.7B	3.88%	-56.81%	25.05	1.28	73.96%	-22.75%
YELP	2.1B	1.2B	-8.18%	-11.47%	57.19	1.74	15.67%	-8.38%
TTGT	1.0B	297.5M	-13.39%	-53.00%	24.18	3.38	12.93%	4284.51%
EB	876.7M	260.9M	-4.61%	-42.52%	-15.83	3.36	39.43%	60.18%
TRUE	191.9M	161.5M	-28.00%	-37.57%	-1.62	1.19	-30.29%	-209.65%
CDLX	111.0M	298.5M	-46.78%	-92.33%	-0.24	0.37	11.76%	-261.89%
TZOO	58.1M	65.7M	-3.61%	-9.43%	64.67	0.88	6.69%	-81.76%
ZDGE	29.8M	27.4M	-1.52%	-56.23%	3.89	1.22	25.56%	-19.10%
AUTO	5.5M	71.2M	0.91%	-85.52%	-0.38	0.08	-0.63%	-945.76%

Financials for TripAdvisor

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	8.2%	1,492	1,379	1,223	1,041	902
S&GA Expenses	9.2%	784	718	632	538	469
Costs and Expenses	7.5%	1,391	1,294	1,192	1,108	1,033
EBITDA	16.2%	208	179	125	29.00	-29.00
EBITDA Margin	7.4%	0.14*	0.13*	0.10*	0.03*	-0.03*
Earnings Before Taxes	91.4%	67.00	35.00	-24.00	-123	-185
EBT Margin	76.9%	0.04*	0.03*	-0.02*	-0.12*	-0.21*
Interest Expenses	-2.2%	44.00	45.00	46.00	46.00	45.00
Net Income	385.7%	20.00	-7.00	-31.00	-102	-148
Net Income Margin	364.1%	0.01*	-0.01*	-0.03*	-0.10*	-0.16*
Free Cahsflow	-20.8%	400	505	382	164	59.00

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.2%	2,569	2,565	2,612	2,372	2,289
Current Assets	-3.0%	1,270	1,309	1,337	1,043	940
Cash Equivalents	-6.5%	1,000	1,070	1,045	781	723
Net PPE	-0.5%	194	195	201	209	215
Goodwill	2.4%	822	803	820	839	843
Liabilities	-2.5%	1,708	1,752	1,816	1,605	1,500
Current Liabilities	-7.0%	533	573	656	467	357
LT Debt, Non Current	0%	836	836	835	834	833
Shareholder's Equity	5.9%	861	813	796	767	789
Retained Earnings	-0.8%	261	263	238	207	241
Additional Paid-In Capital	1.7%	1,404	1,380	1,364	1,342	1,326
Accumulated Depreciation	3.0%	512	497	481	460	-
Shares Outstanding	0.2%	128	128	127	127	126

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-20.8%	400	505	382	213	108
Share Based Compensation	-8.3%	88.00	96.00	103	114	120
Cashflow From Investing	-4.0%	-52.00	-50.00	-54.00	-58.00	-54.00
Cashflow From Financing	6.9%	-27.00	-29.00	-31.00	-34.00	263
Buy Backs	NaN%	0.00	0.00	-	-	-

Risks for TRIP

What is the probability of a big loss on TRIP?

100%

Probability that TripAdvisor stock will be more than 20% underwater in next one year

81.2%

Probability that TripAdvisor stock will be more than 30% underwater in next one year.

60.8%

Probability that TripAdvisor stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TRIP drawdown profile look like?

Y-axis is the maximum loss one would have experienced if TripAdvisor was unfortunately bought at previous high price.

Drawdowns

Returns for TRIP

Cumulative Returns on TRIP

-8.8%

10-Year Cumulative Returns

-15.5%

7-Year Cumulative Returns

-13.8%

5-Year Cumulative Returns

2.6%

3-Year Cumulative Returns

What are the long-term rolling returns for TRIP?

FIve years rolling returns for TripAdvisor.

Annualized Returns

Which funds bought or sold TRIP recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.02	-91,377	399,623	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-22.53	-63,000	107,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-0.43	-197,385,000	1,770,330	-%
2023-02-27	Parallax Volatility Advisers, L.P.	added	226	2,060,550	3,299,550	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	-61,000	267,000	-%
2023-02-22	CVA Family Office, LLC	sold off	-100	-	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	-6,117	26,883	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-76,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	reduced	-35.55	-157,648	174,352	-%
2023-02-16	MAVERICK CAPITAL LTD	reduced	-16.39	-711,769	1,518,230	0.04%

Latest Funds Activity

Are funds buying TRIP calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TRIP

No. of Funds

TripAdvisor News

Schedule 13G FIlings of TripAdvisor

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	par investment partners lp	6.7%	8,500,000	SC 13G/A
Feb 09, 2023	vanguard group inc	8.41%	10,740,789	SC 13G/A
Jan 31, 2023	blackrock inc.	7.5%	9,644,646	SC 13G/A
Mar 11, 2022	blackrock inc.	6.9%	8,711,917	SC 13G
Feb 14, 2022	par investment partners lp	9.9%	12,347,046	SC 13G/A
Feb 11, 2022	soma equity partners lp	0.00%	0	SC 13G/A
Feb 08, 2022	blackrock inc.	6.9%	8,711,917	SC 13G
May 28, 2021	trip.com group ltd	4.5%	5,567,788	SC 13D/A
Mar 24, 2021	liberty tripadvisor holdings, inc.	21.7%	29,245,893	SC 13D/A
Feb 16, 2021	par investment partners lp	9.6%	11,702,908	SC 13G/A

TRIP Fair Value

TripAdvisor fair value in different scenarios

The table shows the Fair Value estimates for TripAdvisor for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	7.49 -60.62%	9.78 -48.58%	12.98 -31.76%	17.72 -6.83%	21.28 11.88%
Current Inflation	7.22 -62.04%	9.31 -51.05%	11.97 -37.07%	16.03 -15.72%	19.07 0.26%
Very High Inflation	6.87 -63.88%	8.71 -54.21%	10.73 -43.59%	14.01 -26.34%	16.46 -13.46%

Historical TripAdvisor Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of TripAdvisor

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4/A	Insider Trading
Feb 27, 2023	4/A	Insider Trading
Feb 27, 2023	4/A	Insider Trading
Feb 27, 2023	4/A	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 17, 2023	10-K	Annual Report
Feb 16, 2023	4	Insider Trading
Feb 16, 2023	4	Insider Trading

Latest Insider Trading transactions for TRIP

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-15	Soni Kanika	sold (taxes)	-229,462	25.13	-9,131	chief commercial officer
2023-02-15	Gouvalaris Geoffrey	sold (taxes)	-107,079	25.13	-4,261	-
2023-02-15	Kalvert Seth J	sold	-698,153	26.91	-25,944	chief legal officer & sec.
2023-02-15	Gouvalaris Geoffrey	acquired	-	-	13,719	-
2023-02-15	Kalvert Seth J	sold (taxes)	-277,988	25.13	-11,062	chief legal officer & sec.
2023-02-15	Soni Kanika	acquired	-	-	25,800	chief commercial officer
2023-02-15	Kalvert Seth J	acquired	-	-	37,006	chief legal officer & sec.
2023-01-03	Gouvalaris Geoffrey	acquired	-	-	289	-
2023-01-03	Gouvalaris Geoffrey	sold (taxes)	-1,803	17.86	-101	-
2022-11-15	Gouvalaris Geoffrey	acquired	-	-	522	-

About TripAdvisor

Stephen Kaufer

www.tripadvisor.com

2690

TripAdvisor, 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.

TRIP Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Income Statement [Abstract]

Revenue

^[1]

$ 1,492

$ 902

$ 604

Costs and expenses:

Cost of revenue (exclusive of depreciation and amortization as shown separately below))

116

Selling and marketing

784

469

316

Technology and content

222

212

220

General and administrative

172

167

173

Depreciation and amortization

111

125

Impairment of goodwill

Restructuring and other related reorganization costs (Note 1)

Total costs and expenses:

1,391

1,033

933

Operating income (loss)

101

(131)

(329)

Other income (expense):

Interest expense

(44)

(45)

(35)

Interest income

Other income (expense), net (Note 17)

(5)

(10)

(8)

Total other income (expense), net

(34)

(54)

(40)

Income (loss) before income taxes

(185)

(369)

(Provision) benefit for income taxes (Note 11)

(47)

Net income (loss)

$ 20

$ (148)

$ (289)

Earnings (loss) per share attributable to common stockholders (Note 16):

Basic

$ 0.14

$ (1.08)

$ (2.14)

Diluted

$ 0.14

$ (1.08)

$ (2.14)

Numerator used to compute net income (loss) per share attributable to common stockholders (Note 16):

Basic

$ 20

$ (148)

$ (289)

Diluted

$ 21

$ (148)

$ (289)

Weighted average common shares outstanding (Note 16):

Basic

139,923

137,234

134,858

Diluted

145,670

137,234

134,858

[1]	Our revenue is recognized primarily at a point in time for all reported segments.

TRIP Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents (Note 4)	$ 1,021	$ 723
Accounts receivable and contract assets, net of allowance for credit losses of $28 and $28, respectively (Note 2, Note 3)	205	142
Income taxes receivable (Note 11)	0	49
Prepaid expenses and other current assets	44	26
Total current assets	1,270	940
Property and equipment, net (Note 5, Note 6)	194	215
Operating lease right-of-use assets (Note 6)	27	42
Intangible assets, net (Note 7)	51	65
Goodwill (Note 7)	822	843
Non-marketable investments (Note 4)	34	36
Deferred income taxes, net (Note 11)	78	54
Other long-term assets, net of allowance for credit losses of $10 and $10, respectively	93	94
TOTAL ASSETS	2,569	2,289
Current liabilities:
Accounts payable	39	27
Deferred merchant payables (Note 2)	203	113
Deferred revenue (Note 3)	44	36
Accrued expenses and other current liabilities (Note 8)	247	181
Total current liabilities	533	357
Long-term debt (Note 9)	836	833
Finance lease obligation, net of current portion (Note 6)	58	65
Operating lease liabilities, net of current portion (Note 6)	15	29
Deferred income taxes, net (Note 11)	1	1
Other long-term liabilities (Note 10)	265	215
Total Liabilities	1,708	1,500
Commitments and contingencies (Note 12)
Stockholders equity: (Note 15)
Preferred stock, $0.001 par value Authorized shares: 100,000,000 Shares issued and outstanding: 0 and 0, respectively	0	0
Common stock	0	0
Additional paid-in capital	1,404	1,326
Retained earnings	261	241
Accumulated other comprehensive income (loss)	(82)	(56)
Treasury stock-common stock, at cost, 18,844,614 and 18,844,614 shares, respectively	(722)	(722)
Total Stockholders’ Equity	861	789
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,569	2,289
Class B Common Stock
Stockholders equity: (Note 15)
Common stock	$ 0	$ 0