Trip.com Group Ltd. (9961) AI Stock Analysis

• Market Cap: HK$361.60B
• Dividend Yield: 0.43%
• Average Volume (3M): 1.90M
• Price to Earnings (P/E): 19.5
• Beta (1Y): 1.19
• Revenue Growth: 17.70%
• EPS Growth: 92.51%
• Country: HK
• Employees: 41,073
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Travel Services
• EPS (TTM): 30.16
• Shares Outstanding: 689,450,260
• 10 Day Avg. Volume: 2,046,221
• 30 Day Avg. Volume: 1,902,875
• PEG Ratio: 0.27
• Price to Book (P/B): 2.33
• Price to Sales (P/S): 6.22
• P/FCF Ratio: 17.43
• 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$669.16
• Price Target Upside: 24.96% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 27
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: HK$622.00 ▲(16.15% Upside)

Trip.com Group Ltd. demonstrates strong financial performance with significant revenue growth and profitability improvements. The earnings call provided a positive outlook, emphasizing growth in travel markets and international expansion. However, cash flow challenges and increased marketing costs present potential risks. The stock's valuation is moderate, and technical indicators suggest a mixed short-term outlook.

Positive Factors

International Expansion

The significant growth in international bookings indicates successful expansion efforts, strengthening Trip.com's global market position and diversifying revenue streams.

Revenue Growth

Consistent revenue growth reflects strong demand and effective business strategies, supporting long-term financial health and market competitiveness.

Inbound Travel Growth

The surge in inbound travel bookings highlights robust international demand and improved travel conditions, enhancing Trip.com's market opportunities and revenue potential.

Negative Factors

Cash Flow Challenges

Zero operating cash flow indicates potential liquidity issues, which could limit financial flexibility and investment capacity if not addressed.

Increased Marketing Costs

Rising marketing expenses may pressure margins and profitability, requiring careful management to ensure sustainable growth without eroding financial performance.

Pricing Pressure

Declining prices in core services could impact revenue and profitability, necessitating strategic adjustments to maintain competitive advantage and market share.

Trip.com Group Ltd. Business Overview & Revenue Model

Company Description

Trip.com Group Limited operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services. It also provides independent leisure travelers bundled packaged-tour products comprising group, semi-group, and customized and packaged tours with various transportation arrangements, such as air, cruise, bus, and car rental services. In addition, the company offers integrated transportation and accommodation services; destination transportation and ticket, activity, insurance, visa, and tour guide services; user support, supplier management, and customer relationship management services; and in-destination products and services. Further, it provides its corporate clients with business visit, incentive trip, meeting and conference, travel data collection and analysis, industry benchmark, cost saving analysis, and travel management solutions; and Corporate Travel Management System, an online platform that integrates information management, online booking and authorization, online enquiry, and travel reporting systems. Additionally, the company offers online advertising and financial services. It operates under the Ctrip, Qunar, Trip.com, and Skyscanner brands. The company was formerly known as Ctrip.com International, Ltd. and changed its name to Trip.com Group Limited in October 2019. Trip.com Group Limited was founded in 1999 and is headquartered in Shanghai, the People's Republic of China.

How the Company Makes Money

Trip.com Group generates revenue primarily through a commission-based model, earning fees for each booking made through its platform. The key revenue streams include commissions from hotel and flight bookings, advertising fees from travel-related businesses, and service fees for various travel products. Additionally, the company has significant partnerships with airlines, hotels, and other travel service providers, which enhance its offerings and drive customer traffic to its platform. The company also benefits from ancillary services, such as travel insurance and car rentals, which further diversify its revenue sources.

Trip.com Group Ltd. Financial Statement Overview

Summary

Trip.com Group Ltd. has shown significant improvement in profitability and revenue growth, reflecting strong operational performance in the travel services industry. The balance sheet is robust, with a solid equity base and manageable debt levels. However, recent cash flow challenges could pose risks if not addressed, impacting future financial flexibility.

Income Statement

Trip.com Group Ltd. has demonstrated robust growth in its income statement. The gross profit margin is high, indicating efficient cost management. Net profit margin and EBIT margin have improved significantly from previous years, showcasing enhanced profitability. The revenue growth rate is impressive, reflecting strong business momentum.

Balance Sheet

The balance sheet shows a healthy equity ratio, indicating strong capitalization. The debt-to-equity ratio is manageable, suggesting a balanced leverage position. However, there has been a noticeable increase in stockholders' equity, which strengthens the financial stability of the company.

Cash Flow

Cash flow analysis reveals challenges, with operating cash flow at zero in the most recent period, indicating potential cash management issues. Historical free cash flow has grown, but the recent absence of free cash flow highlights potential concerns in liquidity and cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	59.76B	53.29B	44.51B	20.04B	20.02B	18.32B
Gross Profit	48.23B	43.30B	36.39B	15.53B	15.43B	14.29B
EBITDA	35.70B	14.99B	12.14B	960.00M	-393.00M	-209.00M
Net Income	31.17B	17.07B	9.92B	1.40B	-550.00M	-3.25B
Balance Sheet
Total Assets	270.58B	242.58B	219.14B	191.69B	191.86B	187.25B
Cash, Cash Equivalents and Short-Term Investments	80.45B	76.91B	59.34B	42.55B	49.38B	42.92B
Total Debt	31.93B	40.32B	45.57B	46.66B	51.72B	57.41B
Total Liabilities	100.60B	99.10B	96.13B	78.67B	81.40B	85.68B
Stockholders Equity	168.23B	142.55B	122.18B	112.28B	109.68B	100.35B
Cash Flow
Free Cash Flow	0.00	19.03B	21.40B	2.14B	1.90B	-4.36B
Operating Cash Flow	0.00	19.63B	22.00B	2.64B	2.48B	-3.82B
Investing Cash Flow	0.00	-6.05B	5.92B	1.14B	-4.15B	-3.82B
Financing Cash Flow	0.00	-6.71B	-2.55B	-6.72B	3.92B	6.03B

Trip.com Group Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 535.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9961, the sentiment is Negative. The current price of 535.5 is below the 20-day moving average (MA) of 555.40, below the 50-day MA of 565.82, and above the 200-day MA of 510.32, indicating a neutral trend. The MACD of -3.59 indicates Positive momentum. The RSI at 42.80 is Neutral, neither overbought nor oversold. The STOCH value of 19.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9961.

Trip.com Group Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0780	76 Outperform	HK$49.70B	18.18	12.39%	0.82%	15.33%	34.85%
9961	74 Outperform	HK$361.60B	19.47	20.15%	0.43%	17.70%	92.51%
1701	62 Neutral	HK$107.00M	3.95	16.79%	―	80.68%	131.62%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
0265	60 Neutral	€640.93M	19.51	12.44%	―	2.10%	1.68%
8069	50 Neutral	HK$29.40M	-21.18	-1.51%	―	-17.40%	51.54%
1901	45 Neutral	HK$319.49M	―	-29.79%	―	68.29%	41.90%

Trip.com Group Ltd. Corporate Events

Trip.com Group Reports Strong Q3 2025 Financial Results

Trip.com Group Limited announced its unaudited financial results for the third quarter of 2025, highlighting a robust performance in its international business segments. The company reported a significant increase in overall bookings on its international OTA platform, with inbound travel bookings more than doubling year-over-year and outbound flight and hotel bookings surpassing pre-pandemic levels. The company’s focus on integrating AI and innovative programs like ‘Taste of China’ is aimed at redefining travel experiences and shaping a smarter, more sustainable future for the industry.

The most recent analyst rating on (HK:9961) stock is a Buy with a HK$619.00 price target. To see the full list of analyst forecasts on Trip.com Group Ltd. stock, see the HK:9961 Stock Forecast page.

Trip.com Group Schedules Q3 2025 Financial Results Announcement

Trip.com Group Ltd. announced that its audit committee will meet on November 17, 2025, to approve the company’s financial results for the third quarter of 2025, which will be published the following day. The announcement highlights the company’s commitment to transparency and timely communication with stakeholders, as it will also host a conference call to discuss the results, reflecting its proactive approach in engaging with investors and analysts.

The most recent analyst rating on (HK:9961) stock is a Buy with a HK$619.00 price target. To see the full list of analyst forecasts on Trip.com Group Ltd. stock, see the HK:9961 Stock Forecast page.