Tongcheng Travel Holdings Limited (0780) AI Stock Analysis

• Market Cap: HK$46.11B
• Dividend Yield: 0.9%
• Average Volume (3M): 11.42M
• Price to Earnings (P/E): 18.5
• Beta (1Y): 1.01
• Revenue Growth: 34.16%
• EPS Growth: 40.10%
• Country: HK
• Employees: 10,141
• Sector: Consumer Cyclical
• Sector Strength: 75
• Industry: Travel Services
• EPS (TTM): 0.37
• Shares Outstanding: 2,341,916,700
• 10 Day Avg. Volume: 10,349,453
• 30 Day Avg. Volume: 11,416,249
• PEG Ratio: 0.71
• Price to Book (P/B): 1.96
• Price to Sales (P/S): 2.26
• P/FCF Ratio: 15.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$23.11
• Price Target Upside: 15.55% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 69 Neutral
• Price Target: HK$22.50 ▲(12.50% Upside)

Tongcheng Travel Holdings Limited's strong financial performance drives the overall score, supported by robust revenue growth and profitability. However, technical analysis indicates short-term bearish momentum, and valuation metrics suggest the stock is fairly valued, resulting in a moderate overall score.

Positive Factors

Earnings Growth

Analyst reiterates a positive view on Tongcheng Travel given its robust earnings growth outlook.

Operational Efficiency

The operating profit margin of the core OTA business expanded significantly to 29.2%, indicating improved operational efficiency.

Revenue Growth

The company is expected to see stronger revenue growth in accommodation reservation, primarily aided by likely stronger-than-expected expansion of take rate.

Negative Factors

Elderly Tourism Recovery

Elder customers' outbound tourism in popular Southeast Asia destinations is taking longer to recover than expected.

Tourism Business

There is a revised forecast indicating a slower-than-expected revenue growth recovery for the offline Tourism business.

Transportation Revenue

There is an expectation of slower-than-expected transportation ticketing services revenue growth due to milder-than-expected air ticketing volume growth.

Tongcheng Travel Holdings Limited Business Overview & Revenue Model

Company Description

Tongcheng Travel Holdings Limited, listed under the stock code 0780, is a leading online travel service provider in China. The company primarily operates in the travel and tourism sectors, offering a wide range of services including transportation ticketing, accommodation reservations, and various travel-related activities. It aims to cater to the diverse needs of travelers by providing an integrated platform that facilitates convenient and efficient travel planning and booking.

How the Company Makes Money

Tongcheng Travel Holdings Limited generates revenue mainly through its online platform, which offers comprehensive travel services. The company's key revenue streams include commissions from transportation ticket sales, such as train and airline tickets, and service fees from hotel bookings and other travel-related reservations. Additionally, Tongcheng Travel benefits from partnerships with major airlines, hotels, and other travel service providers, which help enhance its service offerings and market reach. The company's earnings are also influenced by its ability to attract and retain a large user base, leveraging technology and data analytics to provide personalized travel solutions.

Tongcheng Travel Holdings Limited Financial Statement Overview

Summary

Strong financial performance with robust revenue growth and profitability. The company maintains a healthy balance sheet and solid cash flow generation, although there are historical fluctuations in some metrics.

Income Statement

Tongcheng Travel Holdings Limited has shown strong revenue growth over the years, with a significant jump from 2023 to 2024. The Gross Profit Margin and Net Profit Margin are robust, indicating efficient cost management and profitability. The EBIT and EBITDA margins have also improved, showcasing strong operational performance. However, there was a period of negative EBIT in 2022, which suggests some historical volatility.

Balance Sheet

The company maintains a healthy balance sheet with a solid equity base, evidenced by a strong Equity Ratio. The Debt-to-Equity Ratio is manageable, showing prudent leverage levels. The Return on Equity is impressive, reflecting effective use of equity to generate profits. The consistent increase in Stockholders' Equity suggests financial stability and growth potential.

Cash Flow

Operating Cash Flow remains strong and consistently positive, indicating good cash generation from operations. Free Cash Flow is positive and shows growth, supporting reinvestment and potential shareholder returns. However, there have been fluctuations in Free Cash Flow growth rates, suggesting some variability in cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	17.85B	17.34B	11.90B	6.58B	7.54B	5.93B
Gross Profit	11.61B	11.11B	8.74B	4.78B	5.65B	4.24B
EBITDA	3.58B	3.52B	2.91B	839.95M	1.56B	1.01B
Net Income	2.25B	1.97B	1.55B	-163.57M	723.40M	327.59M
Balance Sheet
Total Assets	38.32B	37.78B	31.72B	6.64B	21.51B	19.11B
Cash, Cash Equivalents and Short-Term Investments	10.93B	11.17B	9.41B	6.71B	5.39B	6.72B
Total Debt	4.98B	5.01B	3.01B	2.41B	329.39M	395.57M
Total Liabilities	16.95B	16.81B	13.17B	6.64B	6.25B	5.10B
Stockholders Equity	20.40B	20.00B	17.70B	15.73B	15.22B	14.01B
Cash Flow
Free Cash Flow	2.46B	2.57B	3.03B	-230.70M	1.53B	-30.68M
Operating Cash Flow	2.86B	2.97B	4.00B	302.31M	1.84B	135.52M
Investing Cash Flow	-3.19B	-834.26M	-1.76B	-397.03M	-1.56B	-772.56M
Financing Cash Flow	-493.89M	678.79M	-592.23M	1.54B	-20.42M	176.54M

Tongcheng Travel Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 20.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0780, the sentiment is Negative. The current price of 20 is below the 20-day moving average (MA) of 20.59, below the 50-day MA of 20.86, and above the 200-day MA of 19.58, indicating a neutral trend. The MACD of -0.38 indicates Positive momentum. The RSI at 41.23 is Neutral, neither overbought nor oversold. The STOCH value of 56.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0780.

Tongcheng Travel Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9961	73 Outperform	HK$321.19B	18.27	12.48%	0.48%	15.77%	55.52%
0265	70 Outperform	€237.77M	4.95	15.18%	―	1.03%	105.70%
0780	69 Neutral	HK$46.11B	18.46	11.72%	0.90%	34.16%	40.10%
1235	59 Neutral	HK$84.13M	25.00	5.77%	4.24%	57.36%	-62.71%
6882	57 Neutral	HK$286.40M	4.05	97.28%	10.53%	19.51%	-1.26%
Sector *	56 Neutral	HK$25.46B	5.05	-2.69%	5.69%	-0.43%	-53.15%
1901	56 Neutral	HK$382.72M	―	-61.77%	―	29.04%	-393.69%

Tongcheng Travel Holdings Limited Corporate Events

Tongcheng Travel to Announce Interim Results on August 18

Tongcheng Travel Holdings Limited has announced a board meeting scheduled for August 18, 2025, to approve and publish the unaudited interim results for the first half of the year. This meeting is crucial for stakeholders as it will provide insights into the company’s financial performance and operational progress, potentially impacting its market positioning.

The most recent analyst rating on (HK:0780) stock is a Buy with a HK$24.00 price target. To see the full list of analyst forecasts on Tongcheng Travel Holdings Limited stock, see the HK:0780 Stock Forecast page.

Tongcheng Travel Approves AGM Resolutions and Declares Dividend

Tongcheng Travel Holdings Limited announced the results of its Annual General Meeting held on June 26, 2025, where all proposed resolutions were approved by shareholders. Key resolutions included the adoption of the company’s financial statements for 2024, re-election of directors, re-appointment of PricewaterhouseCoopers as auditors, and the declaration of a final dividend of HKD0.18 per share. The meeting also granted the board mandates to issue and repurchase shares, reflecting strong shareholder support and potentially enhancing the company’s flexibility in capital management.

The most recent analyst rating on (HK:0780) stock is a Buy with a HK$20.00 price target. To see the full list of analyst forecasts on Tongcheng Travel Holdings Limited stock, see the HK:0780 Stock Forecast page.

Tongcheng Travel Holdings Sets Agenda for 2025 Annual General Meeting

Tongcheng Travel Holdings Limited announced its upcoming annual general meeting scheduled for June 26, 2025, in Suzhou, China. Key agenda items include the adoption of the 2024 financial statements, re-election of directors, re-appointment of auditors, and approval of a final dividend of HKD0.18 per share. These resolutions aim to strengthen the company’s governance and financial position, potentially impacting its market standing and shareholder value.

The most recent analyst rating on (HK:0780) stock is a Buy with a HK$20.00 price target. To see the full list of analyst forecasts on Tongcheng Travel Holdings Limited stock, see the HK:0780 Stock Forecast page.

Tongcheng Travel Reports Strong Q1 2025 Financial Results

Tongcheng Travel Holdings Limited reported a significant financial performance for the first quarter of 2025, with a 13.2% increase in revenue to RMB4,377.4 million compared to the same period in 2024. The company also saw a substantial rise in adjusted EBITDA and net profit, showcasing a strong operational performance. The growth in average monthly paying users and accumulated number of travelers served indicates a robust market presence and increased consumer engagement. These results highlight Tongcheng Travel’s strengthened position in the competitive online travel agency sector, potentially benefiting stakeholders through improved profitability and market expansion.

The most recent analyst rating on (HK:0780) stock is a Buy with a HK$20.00 price target. To see the full list of analyst forecasts on Tongcheng Travel Holdings Limited stock, see the HK:0780 Stock Forecast page.

Tongcheng Travel Enhances Governance with New Nomination Committee

Tongcheng Travel Holdings Limited has established a Nomination Committee as part of its corporate governance framework. This move aims to enhance the company’s governance structure by ensuring a systematic and transparent process for nominating directors and senior management. The establishment of this committee is expected to strengthen the company’s operational oversight and align with the listing rules of the Hong Kong Stock Exchange, potentially impacting its market positioning positively.

The most recent analyst rating on (HK:0780) stock is a Buy with a HK$23.70 price target. To see the full list of analyst forecasts on Tongcheng Travel Holdings Limited stock, see the HK:0780 Stock Forecast page.

Tongcheng Travel to Review Q1 Financial Results

Tongcheng Travel Holdings Limited has announced a board meeting scheduled for May 23, 2025, to approve and publish the unaudited first quarterly results for the period ending March 31, 2025. This meeting is significant as it will provide insights into the company’s financial performance and could impact its market positioning and stakeholder interests.