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  "documentTitle": "Tripadvisor, Inc. (TRIP)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2025-10-01 00:00:00",
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  "notes": "The chart uses a dashed line to indicate peer group averages (12.4x and 12.3x).",
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      "kind": "callout",
      "text": "We believe Tripadvisor trades at an attractive multiple compared to its peers",
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      "text": "Enterprise Value / CY2026E EBITDA",
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      "text": "Enterprise Value / CY2026E EBITDA: 6.5x",
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      "text": "Tripadvisor is trading at a compelling valuation of just 6.5x EBITDA, well below peers with comparable revenue growth profiles.",
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      "text": "Source: Capital IQ. Market Data as of October 17, 2025.",
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      "kind": "title",
      "text": "Again, Tripadvisor Is Cheap Based on Its Current Profile",
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      "evidence": "Slides 11-24 provide data and analysis to support the thesis.",
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      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
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