EXPE
Expedia Group, Inc.
Is EXPE Halal?
Travel marketplace is generally permissible, but hotel alcohol/casino exposure is not quantified and the MSCI-style receivables-plus-cash proxy fails.
What You Should Know
Expedia Group's March 31, 2026 Form 10-Q reports assets of $26,459 million, debt of $4,470 million, cash of $5,540 million, short-term investments of $254 million, accounts receivable of $5,149 million and quarterly revenue of $3,426 million. Debt/assets is 16.90%, liquidity/assets is 21.90%, receivables-plus-cash/assets is 40.41% and interest income/revenue is 1.75%. FTSE and Malaysia asset ratios pass while the examined MSCI receivables-plus-cash proxy fails; hotel alcohol, casino and other prohibited-adjacent inventory remains unquantified.
⚠️ Concerns
- •Platforms promote and monetize hotels, resorts, and casino/gambling destinations where alcohol and gambling are part of the offering — a portion of revenue is haram-adjacent and can approach or exceed the 5% haram-revenue threshold
- •Holds large customer prepayments (float) that generate interest income — check it against the 5% threshold and purify the corresponding portion of returns
- •Carries a meaningful debt load — confirm total debt / market cap stays under the 33% threshold against the latest filings, a deciding screen
- •The verdict is ratio-and-mix dependent and can change as the balance sheet and revenue mix shift
- •Investors holding EXPE should apply purification for the haram-adjacent and interest exposure; stricter investors may prefer to avoid the travel-booking sector's alcohol-and-gambling exposure entirely
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
4,470 / 26,459
5,794 / 26,459
10,689 / 26,459
60 / 3,426
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 16.90%, liquidity/assets is 21.90%, receivables plus cash/assets is 40.41% and interest income/revenue is 1.75%; activity remains incomplete.
- Financial
- Fails
- Overall
- Fails
Receivables plus cash/assets is 40.41%, above the examined MSCI 33.33% limit; other known financial ratios pass.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below 33%; activity remains incomplete and this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored; the examined asset methods differ because the MSCI receivables proxy fails.
Business-activity disclosure
Expedia operates online travel marketplaces earning commissions and fees on flights, lodging, rentals, packages and activities. Travel intermediation is generally permissible, but hotel alcohol, casino and other haram-adjacent inventory requires qualitative and revenue-mix review.
Limitation: The filing does not separately quantify commissions tied to alcohol, gambling or other prohibited hotel and destination amenities.
Purification
Quarterly interest income is disclosed at $60 million, but no scholar-approved purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from Expedia's March 31, 2026 Form 10-Q.
- Debt is $4,470 million long-term debt; current maturities were zero at March 31, 2026.
- Cash and cash equivalents are $5,540 million and short-term investments are $254 million; restricted traveler cash is not added to unrestricted cash.
- Quarterly revenue is $3,426 million and interest income is $60 million.
- The filing does not provide a reproducible prohibited-revenue numerator for hotel alcohol, casino or other haram-adjacent bookings.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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