At a glance
TripAdvisor Inc is worth $1.05B, about 29 times its fiscal 2025 earnings. Revenue grew 3.1% to $1.89B in fiscal 2025, with 2.1% kept as profit; over 5 years it has grown 25.6% a year. It pays no dividend; it spent $215.0M buying back its shares over FY2021–FY2025. The stock returned −45.6% over the past year with dividends reinvested and −23.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 50.1% in the 2020 crash (S&P 500: 33.7%) and 42.8% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
TripAdvisor, Inc. runs travel websites and apps that help people find, book and review tours, hotels and restaurants under three brands: Viator, Tripadvisor and TheFork. Reviews written by travelers draw visitors, who then book through the company or click through to its partners. Revenue was $1.89 billion in the year ended December 31, 2025.
Experiences, the largest segment at $924 million (about 49% of revenue), offers tours, activities and attraction tickets through Viator and Tripadvisor. It lists more than 425,000 experiences from over 70,000 operators and earns a commission on each completed booking. Hotels and Other, about 40% ($750 million), is the older business: hotel metasearch (a tool that compares room prices across booking sites) plus advertising, paid mostly per click or per booking, with some display ads priced by views. The company says it manages this segment for profitability.
TheFork, about 12% ($221 million), is a restaurant-booking service with more than 50,000 restaurants in 11 European countries. It charges a fee per seated diner plus subscriptions for its reservation software. In its annual report (10-K) filed February 13, 2026, the company said it was exploring strategic alternatives for TheFork. That report attributes about 68% of revenue to the US and about 16% each to the UK and all other countries.
Price history
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TRIP -45.6% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Experiences | $924.0M | 48.9% |
| Hotels And Other | $750.0M | 39.7% |
| The Fork | $221.0M | 11.7% |
By geography
| US | $1.29B | 68.1% |
| All Other Countries | $302.0M | 16% |
| GB | $301.0M | 15.9% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $441.9M, down 7.2% from a year earlier, and net income was $22.4M (-37.8%).
- For fiscal 2025, revenue was $1.89B (+3.1% year over year; +25.6% a year from FY2020 to FY2025) with a 2.1% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +25.6% good |
|---|---|
| Operating margin | 4.2% weak |
| Free cash flow margin | 8.6% watch |
| Return on equity (FY2025) | 6.2% weak |
| Return on assets (FY2025) | 1.5% weak |
| Net cash (cash minus debt) | $27.3M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $604.0M | $-289.0M | $-249.0M |
| FY2021 | $902.0M | $-148.0M | $54.0M |
| FY2022 | $1.49B | $20.0M | $344.0M |
| FY2023 | $1.79B | $10.0M | $172.0M |
| FY2024 | $1.83B | $5.0M | $70.0M |
| FY2025 | $1.89B | $40.0M | $163.0M |
Valuation snapshot
| Market value | $1.05B |
|---|---|
| P/E ratio | 28.8 |
| Dividend yield | 0% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TRIP price data to Oct 28, 2026 | -38.6% | -45.6% | -14.5% | -23.1% | -17.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -38.6% |
| 2025 | -1.4% |
| 2024 | -31.4% |
| 2023 | +19.7% |
| 2022 | -34.0% |
| 2021 | -5.3% |
| 2020 | -5.3% |
| 2019 | -36.7% |
| 2018 | +56.5% |
| 2017 | -25.7% |
| 2016 | -45.6% |
| 2015 | +14.2% |
| 2014 | -9.9% |
| 2013 | +97.6% |
| 2012 | +66.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40.9% over that stretch · deepest drop along the way 50.1%, back to its old high 8.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19.4% over that stretch · deepest drop along the way 42.8%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 3 sales ($293K), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 16, 2026 | Kristen Ann Dalton Chief Strategy & Ops Officer | sell (plan) | $119K |
| Jun 2, 2026 | Almir Ambeskovic CEO, TheFork | sell (plan) | $98K |
| Sep 2, 2026 | Almir Ambeskovic CEO, TheFork | sell (plan) | $76K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.4% | Jun 30, 2025 |
| Ameriprise Financial, Inc. | 9.1% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.79% | Mar 31, 2026 |
| Vanguard Capital Management | 5.26% | Mar 31, 2026 |
| TIAA CREF INVESTMENT MANAGEMENT LLC | 3.44% | Jun 30, 2026 |
| Nuveen Asset Management, LLC | 2.36% | Jun 30, 2026 |
| TEACHERS ADVISORS, LLC | 0.24% | Jun 30, 2026 |
ETFs with the most weight in TRIP
| AWAY Amplify Travel Tech ETF | 3.65% |
| JETS U.S. Global Jets ETF | 1.93% |
| MGMT Ballast Small/Mid Cap ETF | 1.23% |
| SFLO VictoryShares Small Cap Free Cash Flow ETF | 0.67% |
| DSMC Distillate Small/Mid Cash Flow ETF | 0.41% |
| NIXT Research Affiliates Deletions ETF | 0.35% |
| EES WisdomTree U.S. SmallCap Fund | 0.27% |
| FXD First Trust Consumer Discretionary AlphaDEX Fund | 0.25% |
What could go wrong
- Search engines control much of its traffic. Visitors arrive largely through search engines, price-comparison (metasearch) sites and app stores, some of which run competing travel products. Changes to how they rank or display results could cut traffic or raise costs.
- Liability for tour operators' accidents and failures. As its experiences marketplace grows, the company faces more legal claims, costs and penalties when third-party tour operators have safety incidents or fail to deliver, especially operators without money to pay damages.
- Reliance on advertisers and a few partners. A substantial portion of revenue comes from advertising, and the company relies on a relatively small number of large travel partners. Lower spending by these partners, or losing them, could seriously hurt results.
- Strategy shift and restructuring may disappoint. The plan to grow Experiences, run Hotels and Other for profit and weigh options for TheFork may not work as hoped. A November 2025 restructuring could also disrupt the business without delivering expected benefits.
- Payment licenses needed in the UK and EU. The experiences marketplace needs payment institution licenses in the UK and EU. Failing to comply with PSD2, the EU's payment services rules, could force it to suspend operations in those markets.
- Travel slumps hit results hard. Weak economies, health scares, natural disasters, terrorism and unrest that disrupt travel or squeeze consumer spending have badly hurt the company before, and could again hurt results and the share price.
Recent events
- Acquisition or sale of assets completed
- Quarterly results released
- Major agreement signed
- Shareholder vote results
- Major agreement signed; Investor presentation or announcement
- Quarterly results released
- Investor presentation or announcement
- Executive or board change
- Major agreement signed; Executive or board change; Bylaws or fiscal year changed; Investor presentation or announcement
- Executive or board change
For income and retirement investors
TripAdvisor does not pay regular cash dividends, so its dividend yield was 0% as of October 28, 2026. Returns come only from the share price, so drawing income would mean cashing in shares. The company returns cash through share repurchases (purchasing its own stock) instead: $215 million over fiscal 2021–2025, including $90 million in fiscal 2025. The share count fell 0.8% between May 1, 2025 and June 30, 2026, and the annual report warns that repurchases may not add long-term value.
The shares have fallen sharply in market downturns. They dropped 50.1% in the 2020 COVID crash and regained their peak by December 4, 2020, about 8.6 months after the low. In the 2022 bear market (a prolonged market slide) they fell 42.8% and had not regained that peak as of October 28, 2026. Over the year to that date, the price fell 45.6%. A single stock like this carries more risk than a diversified fund.
Questions investors ask
How does TripAdvisor make money?
Mainly through commissions and advertising. Its Experiences segment earns a commission on tours, activities and attraction tickets booked through Viator and Tripadvisor. It brought in $924 million, about 49% of revenue, in the year ended December 31, 2025. Hotels and Other ($750 million, about 40%) earns mostly from advertising, with hotels and other travel companies paying per click or per booking. TheFork ($221 million, about 12%) charges European restaurants a fee per seated diner plus subscriptions for reservation software.
Does TripAdvisor pay a dividend?
No. TripAdvisor does not pay regular cash dividends and paid none in any year from 2020 through 2025, so its dividend yield was 0% as of October 28, 2026. Instead, it has repurchased its own shares, spending $215 million over fiscal 2021–2025, including $90 million in fiscal 2025. Repurchases can raise each remaining share's slice of future profits, but they provide no cash income, and the company's annual report says they may not enhance long-term shareholder value.
Is TripAdvisor profitable?
Yes, but only slightly. In the year ended December 31, 2025, TripAdvisor earned $40 million on $1.89 billion of revenue. That is about 2 cents of profit per dollar of sales, or $0.31 per diluted share. Free cash flow, the cash left after running and investing in the business, was $163 million. Profits have been thin: it lost money in 2020 and 2021 and earned $5 million in 2024. As of October 28, 2026, the stock traded at 28.8 times fiscal 2025 earnings.
How much debt does TripAdvisor have?
Its debt is roughly matched by cash. As of June 30, 2026, TripAdvisor reported $815.9 million of total debt and $843.2 million of cash and investments, leaving net cash (cash minus debt) of about $27.3 million. Its annual report still lists risks tied to that debt, including covenants (conditions set by lenders) in its credit agreement and its 2026 Senior Notes, a type of bond. Shareholders' equity was $662.5 million on the same date.
How has TripAdvisor stock performed?
It has lost ground over most long periods. As of October 28, 2026, the share price was down 45.6% over one year, a cumulative 73% over five years and 84% over ten years, and 38.6% for 2026 through that date. Its deepest fall from a peak over its roughly 15-year trading history was 91.8%. Results also weakened in the quarter ended June 30, 2026: revenue fell 7.2% from a year earlier to $441.9 million, and net income fell 37.8% to $22.4 million.