Recent News
On October 21, 2025, Starboard Value urged Tripadvisor to consider selling its restaurant-booking unit, TheFork, and suggested broader strategic changes after taking a material stake in the company. On November 6, 2025, the company announced a pivot to an “experiences-led” operating model and a workforce reduction of roughly 20% across brands and corporate functions as part of a realignment.
Technical Analysis
ADX at 10.9 signals no trend, which supports a near-term range-bound price environment and reduces conviction for trend-following moves relative to the current valuation stated by WMDST.
Directional indicators show DI+ at 22.64 and decreasing, which reads as bearish pressure, while DI- experienced a peak-and-reverse pattern—an action that the indicator framework treats as bullish; the combination implies mixed directional forces and a likely tug-of-war between buyers and sellers over the immediate term.
MACD sits at -0.27, above its signal line at -0.35; the cross above the signal line represents a bullish momentum shift despite MACD remaining negative, supporting the possibility of a recovery attempt from current levels.
MRO registers at 13.09 and rising, which indicates price currently sits above WMDST’s target and introduces potential downward pressure until that premium compresses; the increasing MRO suggests that pressure may strengthen if price fails to attract follow-through buying.
RSI at 45.7 and climbing indicates momentum building from a neutral base rather than an overbought condition, reducing the likelihood of an immediate exhaustion move and favoring consolidation with upside attempts while the MACD signal plays out.
Price relations: the last close of $15.08 sits below the 50-day average ($15.66) and 200-day average ($15.33) yet above the 20-day average ($14.78) and the 12-day EMA ($14.93, increasing). This position suggests short-term support near $14.8 and resistance in the $15.3–$16.0 band defined by the 26-day EMA ($15.17) and the super trend upper line ($16.00).
Ichimoku cloud components place Senkou A at $16.90 and Senkou B at $17.48, both above price, indicating overhead resistance consistent with the moving-average cluster and the higher sentiment required for a sustained breakout.
Volatility and volume context: 42-day beta 1.99 and 52-week beta 1.81 point to above-average sensitivity to market swings. Ten-day and longer-term average volumes exceed the most recent session volume, implying reduced participation in the current move and the potential for sharper swings when volume returns.
Fundamental Analysis
Revenue trends present conflicting near-term signals: year-over-year revenue contracted by 35.57% while quarter-over-quarter revenue growth shows a steep decline of 86.22%, which explains pressure on top-line momentum even as management reallocates resources toward experiences.
Profitability: EBIT of $80,000,000 produces an EBIT margin of 14.47%, which sits below the industry peer median of 16.956% and well under the industry peer mean of 41.158%. Quarter-over-quarter EBIT margin expanded by 19.58% but year-over-year margin decreased by 2.58%, indicating improving short-term operating leverage despite weaker annual comparatives.
Earnings: reported EPS of $0.65 beat the $0.55 estimate by $0.10, an EPS surprise of 18.18%, while forward EPS of $0.34 implies materially lower near-term consensus earnings; forward P/E therefore expands to 50.23x versus a trailing P/E of 25.19x, reflecting divergent near-term earnings expectations.
Balance sheet and cash: cash and short-term investments total $1,218,000,000, and the cash ratio sits at 1.06, supporting liquidity through the realignment. Free cash flow equals $25,000,000 for a free cash flow yield of 1.31%, modestly above the industry peer mean of 0.81% but below the industry peer high.
Leverage stands elevated: total debt of $1,257,000,000 produces debt-to-assets of 44.18% and debt-to-equity of 177.79%, which exceeds the industry peer high of 148.901% and highlights balance-sheet leverage as a material constraint on financial flexibility if top-line recovery lags.
Operational efficiency: asset turnover at 0.1936 sits near the industry peer mean (0.1893) and the receivables turnover of 2.34 aligns with the peer mean of 2.13, suggesting revenue conversion mechanics function in line with peers even as revenue levels decline.
Valuation: WMDST values the stock as under-valued. Key valuation multiples show P/B at 2.70, P/S at 3.46, and an enterprise multiple of 18.76; these multiples reflect the market’s mixed view of future earnings durability and the elevated leverage profile.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-06 |
| NEXT REPORT DATE: | 2026-02-05 |
| CASH FLOW | Begin Period Cash Flow | $ 1.2 B |
| Operating Cash Flow | $ 44.0 M | |
| Capital Expenditures | $ -19.00 M | |
| Change In Working Capital | $ -57.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 6.0 M | |
| End Period Cash Flow | $ 1.2 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 553.0 M | |
| Forward Revenue | $ 103.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 41.0 M | |
| Depreciation | $ 23.3 M | |
| Depreciation and Amortization | $ 24.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 482.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 512.0 M | |
| EBITDA | $ 104.0 M | |
| EBIT | $ 80.0 M | |
| Operating Income | $ 70.5 M | |
| Interest Income | $ 10.0 M | |
| Interest Expense | $ 17.0 M | |
| Net Interest Income | $ -7.00 M | |
| Income Before Tax | $ 63.0 M | |
| Tax Provision | $ 10.0 M | |
| Tax Rate | 16.0 % | |
| Net Income | $ 53.0 M | |
| Net Income From Continuing Operations | $ 53.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.55 | |
| EPS Actual | $ 0.65 | |
| EPS Difference | $ 0.10 | |
| EPS Surprise | 18.182 % | |
| Forward EPS | $ 0.34 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.8 B | |
| Intangible Assets | $ 877.0 M | |
| Net Tangible Assets | $ -170.00 M | |
| Total Current Assets | $ 1.5 B | |
| Cash and Short-Term Investments | $ 1.2 B | |
| Cash | $ 1.2 B | |
| Net Receivables | $ 226.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 44.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 65.0 M | |
| Short-Term Debt | $ 353.0 M | |
| Total Current Liabilities | $ 1.1 B | |
| Net Debt | — | |
| Total Debt | $ 1.3 B | |
| Total Liabilities | $ 2.1 B | |
| EQUITY | ||
| Total Equity | $ 707.0 M | |
| Retained Earnings | $ 354.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 6.05 | |
| Shares Outstanding | 116.803 M | |
| Revenue Per-Share | $ 4.73 | |
| VALUATION | Market Capitalization | $ 1.9 B |
| Enterprise Value | $ 2.0 B | |
| Enterprise Multiple | 18.764 | |
| Enterprise Multiple QoQ | -31.328 % | |
| Enterprise Multiple YoY | 80.32 % | |
| Enterprise Multiple IPRWA | high: 214.385 mean: 59.355 median: 55.385 TRIP: 18.764 low: -157.057 |
|
| EV/R | 3.529 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.024 | |
| Asset To Liability | 1.331 | |
| Debt To Capital | 0.64 | |
| Debt To Assets | 0.442 | |
| Debt To Assets QoQ | 0.375 % | |
| Debt To Assets YoY | 24043.716 % | |
| Debt To Assets IPRWA | high: 0.89 TRIP: 0.442 mean: 0.095 median: 0.053 low: 0.001 |
|
| Debt To Equity | 1.778 | |
| Debt To Equity QoQ | -11.667 % | |
| Debt To Equity YoY | 33445.849 % | |
| Debt To Equity IPRWA | TRIP: 1.778 high: 1.489 mean: 0.144 median: 0.055 low: -0.923 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.705 | |
| Price To Book QoQ | -27.12 % | |
| Price To Book YoY | 18.901 % | |
| Price To Book IPRWA | high: 13.377 mean: 7.778 median: 7.289 TRIP: 2.705 low: -1.614 |
|
| Price To Earnings (P/E) | 25.189 | |
| Price To Earnings QoQ | -26.377 % | |
| Price To Earnings YoY | -18.356 % | |
| Price To Earnings IPRWA | high: 247.775 mean: 80.944 median: 57.03 TRIP: 25.189 low: -128.849 |
|
| PE/G Ratio | 0.61 | |
| Price To Sales (P/S) | 3.458 | |
| Price To Sales QoQ | -21.388 % | |
| Price To Sales YoY | -14.331 % | |
| Price To Sales IPRWA | high: 54.08 mean: 29.289 median: 27.551 TRIP: 3.458 low: 0.003 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 50.227 | |
| Forward PE/G | 1.216 | |
| Forward P/S | 18.461 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.51 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.194 | |
| Asset Turnover Ratio QoQ | 2.907 % | |
| Asset Turnover Ratio YoY | 0.311 % | |
| Asset Turnover Ratio IPRWA | high: 0.5 TRIP: 0.194 mean: 0.189 median: 0.171 low: 0.003 |
|
| Receivables Turnover | 2.338 | |
| Receivables Turnover Ratio QoQ | 5.2 % | |
| Receivables Turnover Ratio YoY | -1.766 % | |
| Receivables Turnover Ratio IPRWA | high: 6.926 TRIP: 2.338 mean: 2.131 median: 1.539 low: 0.143 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 39.025 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -118.49 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 125.332 median: 13.67 mean: 3.896 TRIP: -118.49 low: -343.916 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.479 | |
| CapEx To Revenue | -0.034 | |
| CapEx To Depreciation | -0.815 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.5 B | |
| Net Invested Capital | $ 1.9 B | |
| Invested Capital | $ 1.9 B | |
| Net Tangible Assets | $ -170.00 M | |
| Net Working Capital | $ 374.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.059 | |
| Current Ratio | 1.325 | |
| Current Ratio QoQ | 6.994 % | |
| Current Ratio YoY | -28.259 % | |
| Current Ratio IPRWA | high: 8.871 mean: 1.815 median: 1.611 TRIP: 1.325 low: 0.217 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.087 | |
| Cost Of Debt | 1.134 % | |
| Interest Coverage Ratio | 4.706 | |
| Interest Coverage Ratio QoQ | 25.0 % | |
| Interest Coverage Ratio YoY | -22.561 % | |
| Interest Coverage Ratio IPRWA | high: 197.383 mean: 82.876 median: 7.302 TRIP: 4.706 low: -113.554 |
|
| Operating Cash Flow Ratio | 0.072 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 157.515 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.767 % | |
| Revenue Growth | 4.537 % | |
| Revenue Growth QoQ | -86.216 % | |
| Revenue Growth YoY | -35.572 % | |
| Revenue Growth IPRWA | high: 25.814 % mean: 6.721 % median: 4.74 % TRIP: 4.537 % low: -21.192 % |
|
| Earnings Growth | 41.304 % | |
| Earnings Growth QoQ | -81.929 % | |
| Earnings Growth YoY | 46.442 % | |
| Earnings Growth IPRWA | high: 177.966 % TRIP: 41.304 % median: 11.594 % mean: -1.775 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 92.586 % | |
| Gross Margin QoQ | 0.571 % | |
| Gross Margin YoY | 1.559 % | |
| Gross Margin IPRWA | high: 97.596 % TRIP: 92.586 % mean: 65.061 % median: 50.0 % low: -1.845 % |
|
| EBIT Margin | 14.467 % | |
| EBIT Margin QoQ | 19.582 % | |
| EBIT Margin YoY | -2.579 % | |
| EBIT Margin IPRWA | high: 49.713 % mean: 41.158 % median: 16.956 % TRIP: 14.467 % low: -40.142 % |
|
| Return On Sales (ROS) | 12.749 % | |
| Return On Sales QoQ | 14.31 % | |
| Return On Sales YoY | -14.148 % | |
| Return On Sales IPRWA | high: 49.713 % mean: 31.427 % median: 14.848 % TRIP: 12.749 % low: -34.717 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 25.0 M | |
| Free Cash Flow Yield | 1.307 % | |
| Free Cash Flow Yield QoQ | -82.816 % | |
| Free Cash Flow Yield YoY | -144.547 % | |
| Free Cash Flow Yield IPRWA | high: 14.053 % TRIP: 1.307 % median: 0.868 % mean: 0.813 % low: -14.281 % |
|
| Free Cash Growth | -85.876 % | |
| Free Cash Growth QoQ | -175.827 % | |
| Free Cash Growth YoY | -68.772 % | |
| Free Cash Growth IPRWA | high: 483.929 % mean: 266.131 % median: 155.77 % TRIP: -85.876 % low: -537.101 % |
|
| Free Cash To Net Income | 0.472 | |
| Cash Flow Margin | 15.009 % | |
| Cash Flow To Earnings | 1.566 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.856 % | |
| Return On Assets QoQ | 45.0 % | |
| Return On Assets YoY | 31.166 % | |
| Return On Assets IPRWA | high: 8.647 % mean: 5.055 % median: 2.758 % TRIP: 1.856 % low: -11.927 % |
|
| Return On Capital Employed (ROCE) | 4.72 % | |
| Return On Equity (ROE) | 0.075 | |
| Return On Equity QoQ | 30.547 % | |
| Return On Equity YoY | 81.457 % | |
| Return On Equity IPRWA | high: 0.135 TRIP: 0.075 mean: 0.069 median: 0.034 low: -0.144 |
|
| DuPont ROE | 7.946 % | |
| Return On Invested Capital (ROIC) | 3.573 % | |
| Return On Invested Capital QoQ | 31.36 % | |
| Return On Invested Capital YoY | -163.374 % | |
| Return On Invested Capital IPRWA | high: 16.42 % mean: 7.88 % TRIP: 3.573 % median: 3.236 % low: -14.369 % |
|