Expedia Group Inc (EXPE) is fairly valued and Viking Holdings Ltd (VIK) is slightly overvalued.
Both trade above our estimate of their intrinsic value. EXPE is the closer of the two: -2%, against -11% for VIK.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.8% (average of 3 methods) values the shares at $274.56; the price of $280.70 is 2% above that value, and 70% of that value comes from beyond year five.
Leak Score 65/100 on 10 of 12 signals
Discounting its cash flows at 10.5% (average of 3 methods) values the shares at $73.00; the price of $81.02 is 11% above that value, and 73% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | EXPE | VIK |
|---|---|---|
| Verdict | Fairly valued | Slightly overvalued |
| Price | $280.70 | $81.02 |
| Intrinsic value | $274.56 | $73.00 |
| Margin of safety | -2% | -11% |
| Leak Score | 65/100 (10/12) | 59/100 (3/12) |
| Market cap | $33.7B | $36.1B |
| Revenue growth, 5 years | 23.2% | 79.6% |
| Operating margin | 16.6% | 23.3% |
| Net margin | 13.0% | 19.3% |
| Return on equity | 199.1% | 139.5% |
| Debt to equity | 4.70 | 3.75 |
| P/E | 17.5x | 26.9x |
| Forward P/E | 11.5x | 18.4x |
| P/B | 27.9x | 33.5x |
| Dividend yield | 0.5% | — |