(TCOM) Trip.com - NASDAQ
Sector: Consumer Cyclical | Industry: Travel Services | Exchange: NASDAQ (USA) | Market Cap: 28.400m USD | Total Return: -19.3% in 12m
Avg Turnover: 140M
EPS Trend: 92.5%
Qual. Beats: -1
Rev. Trend: 95.3%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Trip.com Group Limited (NASDAQ: TCOM) is a major online travel service provider headquartered in Singapore, operating across China and international markets. Through subsidiaries, the company offers a broad portfolio of travel services including accommodation reservation, transportation ticketing (air, train, long-distance bus, and ferry), packaged tours, in-destination products, and corporate travel management. It primarily acts as an agent for hotel bookings and air ticket sales, and operates under multiple well-known travel brands including Ctrip, Qunar, Trip.com, Travix, Travelfusion, and Skyscanner.
The company also generates ancillary revenue streams beyond traditional bookings, such as travel insurance, online check-in and seat selection, airport VIP lounge access, online advertising, and financial services targeting both consumers and ecosystem partners. Its corporate travel arm, Trip.Biz, delivers technology-enabled business travel management solutions, adding an enterprise-focused segment to its predominantly consumer-facing platform model. Founded in 1999 and formerly known as Ctrip.com International (renamed in October 2019), Trip.com is classified within the Consumer Discretionary sector and the Hotels, Resorts & Cruise Lines sub-industry.
- China outbound travel recovery fuels hotel and ticketing revenue
- Skyscanner international bookings drive diversification beyond China
- Competition from Meituan pressures hotel take rates and margins
| Net Income: 33.2b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -2.61 > 1.0 |
| NWC/Revenue: 67.52% < 20% (prev 64.31%; Δ 3.21% < -1%) |
| CFO/TA 0.05 > 3% & CFO 14.4b > Net Income 33.2b |
| Net Debt (-46.3b) to EBITDA (37.8b): -1.22 < 3 |
| Current Ratio: 1.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (700.5m) vs 12m ago -0.24% < -2% |
| Gross Margin: 80.22% > 18% (prev 81.06%; Δ -0.84% > 0.5%) |
| Asset Turnover: 24.67% > 50% (prev 22.29%; Δ 2.38% > 0%) |
| Interest Coverage Ratio: 54.76 > 6 (EBIT TTM 37.0b / Interest Expense TTM 674.8m) |
| A: 0.16 (Total Current Assets 121b - Total Current Liabilities 78.2b) / Total Assets 268b |
| B: 0.29 (Retained Earnings 76.6b / Total Assets 268b) |
| C: 0.14 (EBIT TTM 37.0b / Avg Total Assets 258b) |
| D: 1.80 (Book Value of Equity 171b / Total Liabilities 94.8b) |
| Altman-Z'' = 4.84 = AA |
| DSRI: 0.99 (Receivables 15.3b/13.4b, Revenue 63.6b/55.2b) |
| GMI: 1.01 (GM 81.06% / 80.22%) |
| AQI: 1.00 (AQ_t 0.52 / AQ_t-1 0.52) |
| SGI: 1.15 (Revenue 63.6b / 55.2b) |
| TATA: 0.07 (NI 33.2b - CFO 14.4b) / TA 268b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at USD 45.10 with a total of 5,591,100 shares traded.
Over the past week, the price has changed by -4.83%,
over one month by -7.87%,
over three months by -12.82% and
over the past year by -19.25%.
Trip.com has received a consensus analysts rating of 4.64. Therefore, it is recommended to buy TCOM.
- StrongBuy: 24
- Buy: 6
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 76.5 | 69.6% |
Market Cap CNY = 192b (28.4b USD * 6.7693 USD.CNY)
P/E Trailing = 6.4063
P/E Forward = 11.6414
P/S = 0.4551
P/B = 1.1227
P/EG = 1.9112
Revenue TTM = 63.6b CNY
EBIT TTM = 37.0b CNY
EBITDA TTM = 37.8b CNY
Long Term Debt = 11.4b CNY (from longTermDebt, last fiscal year)
Short Term Debt = 19.3b CNY (from shortTermDebt, last quarter)
Debt = 32.2b CNY (from shortLongTermDebtTotal, last quarter) + Leases 849.0m
Net Debt = -46.3b CNY (calculated: Debt 32.2b - CCE 78.5b)
Enterprise Value = 146b CNY (192b + Debt 32.2b - CCE 78.5b)
Interest Coverage Ratio = 54.76 (Ebit TTM 37.0b / Interest Expense TTM 674.8m)
EV/FCF = 10.75x (Enterprise Value 146b / FCF TTM 13.6b)
FCF Yield = 9.31% (FCF TTM 13.6b / Enterprise Value 146b)
FCF Margin = 21.37% (FCF TTM 13.6b / Revenue TTM 63.6b)
Net Margin = 52.21% (Net Income TTM 33.2b / Revenue TTM 63.6b)
Gross Margin = 80.22% ((Revenue TTM 63.6b - Cost of Revenue TTM 12.6b) / Revenue TTM)
Gross Margin QoQ = 78.96% (prev 78.96%)
Tobins Q-Ratio = 0.55 (Enterprise Value 146b / Total Assets 268b)
Interest Expense / Debt = 2.09% (Interest Expense 674.8m / Debt 32.2b)
Taxrate = 15.27% (5.99b / 39.2b)
NOPAT = 31.3b (EBIT 37.0b * (1 - 15.27%))
Current Ratio = 1.55 (Total Current Assets 121b / Total Current Liabilities 78.2b)
Debt / Equity = 0.19 (Debt 32.2b / totalStockholderEquity, last quarter 171b)
Debt / EBITDA = -1.22 (Net Debt -46.3b / EBITDA 37.8b)
Debt / FCF = -3.41 (Net Debt -46.3b / FCF TTM 13.6b)
Total Stockholder Equity = 165b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.88% (Net Income 33.2b / Total Assets 268b)
RoE = 20.15% (Net Income TTM 33.2b / Total Stockholder Equity 165b)
RoCE = 20.98% (EBIT 37.0b / Capital Employed (Equity 165b + L.T.Debt 11.4b))
RoIC = 15.23% (NOPAT 31.3b / Invested Capital 206b)
WACC = 7.39% (E(192b)/V(224b) * Re(8.33%) + D(32.2b)/V(224b) * Rd(2.09%) * (1-Tc(0.15)))
Discount Rate = 8.33% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 62.93 | Cagr: 2.11%
[DCF] Terminal Value 73.10% ; FCFF base≈15.8b ; Y1≈13.8b ; Y5≈11.2b
[DCF] Fair Price = 358.2 (EV 179b - Net Debt -46.3b = Equity 226b / Shares 629.7m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 92.50 | EPS CAGR: 53.98% | SUE: -0.94 | # QB: -1
Revenue Correlation: 95.25 | Revenue CAGR: 23.38% | SUE: -0.13 | # QB: 0
EPS current Quarter (2026-06-30): EPS=6.99 | Chg30d=+0.00% | Revisions=+20% | Analysts=10
EPS current Year (2026-12-31): EPS=27.90 | Chg30d=-0.15% | Revisions=-43% | GrowthEPS=-38.8% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=31.67 | Chg30d=-0.50% | Revisions=-43% | GrowthEPS=+13.5% | GrowthRev=+12.4%
[Analyst] Revisions Ratio: -43%