Trip.com Group Sponsored ADR (TCOM) AI Stock Analysis

• Market Cap: $40.67B
• Dividend Yield: 0.39%
• Average Volume (3M): 3.63M
• Price to Earnings (P/E): 9.9
• Beta (1Y): 0.89
• Revenue Growth: 17.34%
• EPS Growth: 91.51%
• Country: US
• Employees: 41,073
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Travel Services
• EPS (TTM): 3.96
• Shares Outstanding: 689,450,260
• 10 Day Avg. Volume: 4,499,966
• 30 Day Avg. Volume: 3,631,338
• PEG Ratio: 0.27
• Price to Book (P/B): 2.30
• Price to Sales (P/S): 6.15
• P/FCF Ratio: 17.22
• Enterprise Value/Market Cap: 6.22
• Enterprise Value/Revenue: 4.23
• Enterprise Value/Gross Profit: 5.25
• Enterprise Value/Ebitda: 7.45
• 1Y Price Target: $85.44
• Price Target Upside: 39.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: $68.00 ▲(10.80% Upside)

Trip.com Group Ltd. shows strong financial performance and a positive outlook from its recent earnings call, which are the most significant factors driving the score. Technical indicators present a mixed picture, while valuation suggests moderate pricing. The absence of significant corporate events keeps the focus on financial and operational strengths.

Positive Factors

Revenue growth and margin expansion

Sustained top-line expansion alongside materially higher gross and net margins indicates durable demand and operating leverage in Trip.com's core booking business. Strong margins improve reinvestment ability and resilience to cyclical travel shocks, supporting multi‑quarter growth execution.

Conservative balance sheet and capital base

Low leverage and a high equity ratio provide financial flexibility to fund international expansion, product investment, or absorb demand swings without forcing asset sales or excessive borrowing. A healthy capital base supports strategic initiatives over the next several quarters.

International expansion and AI-driven product adoption

Rapid international growth and strong adoption of AI tools signal diversification beyond domestic markets and improved product differentiation. This reduces single-market concentration, expands TAM, and can raise customer retention and conversion sustainably over multiple quarters.

Negative Factors

Sharp drop in reported cash generation

A sudden fall to zero in operating and free cash flow is a structural red flag for capital allocation and liquidity planning. If persistent, it constrains investments, dividend/buyback flexibility and increases reliance on external funding, reducing resilience over the next several quarters.

Domestic hotel price pressure from supply expansion

Rising domestic supply that pressures room prices can structurally compress commission and take-rates in Trip.com's largest product category. To defend margins, the company may need higher marketing spend or rate incentives, which erode long‑term unit economics and profitability.

Regulatory/antitrust investigation risk in China

An SAMR anti‑monopoly probe introduces multi‑quarter regulatory risk that can force business model changes, fining, or restrictions on partnerships and pricing. Even without immediate disruption, uncertainty raises compliance costs and could limit strategic options in the home market.

Trip.com Group Sponsored ADR Business Overview & Revenue Model

Company Description

Trip.com Group Limited, through its subsidiaries, 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, including 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, and industry benchmarking solutions; and Corporate Travel Management System, an online platform that integrates information management, online booking and authorization, online inquiry, and travel reporting systems. Additionally, the company offers online advertising and financial services, such as marketing planning and travel media 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 based in Singapore.

How the Company Makes Money

Trip.com Group generates revenue primarily through commissions and fees associated with its online travel services. The company earns a significant portion of its income from hotel bookings, where it takes a commission from hotels for each reservation made through its platform. Additionally, it generates revenue from airline ticket sales by charging airlines a commission for each ticket sold. The company also offers ancillary services such as car rentals and travel insurance, contributing to its overall revenue. Partnerships with airlines, hotels, and travel service providers enhance its offerings and customer reach, while advertising and promotional activities on its platform further supplement its earnings.

Trip.com Group Sponsored ADR Financial Statement Overview

Summary

Trip.com Group Ltd. demonstrates strong financial health with significant revenue and profit growth, efficient cost management, and a robust balance sheet. However, the recent decline in cash flow metrics highlights potential challenges in cash management or reinvestment strategies. Despite this, the company's solid profitability and stable leverage ratios position it well for future growth.

Income Statement

Trip.com Group Ltd. shows strong financial performance with consistent revenue growth, seeing a notable increase in Total Revenue from 20,039 million in 2022 to 53,294 million in 2024. The Gross Profit Margin improved from 77.5% in 2023 to 81.2% in 2024, indicating efficient cost management. Net Profit Margin stood at a healthy 32% in 2024, demonstrating robust profitability. The EBIT Margin increased to 26.6% in 2024, reflecting improved operational efficiency.

Balance Sheet

The balance sheet of Trip.com Group Ltd. is stable with a healthy Debt-to-Equity Ratio of 0.28 as of 2024, showing conservative leverage. The Return on Equity (ROE) is impressive at 11.97% in 2024, indicating efficient use of equity to generate profits. The company maintains a strong Equity Ratio of 58.8%, providing a solid financial foundation. There is a significant increase in Stockholders' Equity from 112,283 million in 2022 to 142,550 million in 2024, reflecting retained earnings and growth.

Cash Flow

While the operating cash flow was notably strong at 22,004 million in 2023, it dropped to zero in 2024, suggesting potential cash management issues or significant reinvestment. The Free Cash Flow in 2023 was substantial at 21,398 million but also fell to zero in 2024. The lack of Free Cash Flow growth raises concerns about cash generation sustainability, offsetting previous strong cash flow performance.

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	33.97B	15.03B	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	79.57B	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 Sponsored ADR Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 61.37
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TCOM, the sentiment is Negative. The current price of 61.37 is below the 20-day moving average (MA) of 67.73, below the 50-day MA of 69.82, and below the 200-day MA of 66.81, indicating a bearish trend. The MACD of -2.85 indicates Positive momentum. The RSI at 33.70 is Neutral, neither overbought nor oversold. The STOCH value of 43.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TCOM.

Trip.com Group Sponsored ADR Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EXPE	80 Outperform	$32.45B	25.34	104.40%	0.56%	7.29%	36.51%
ABNB	71 Outperform	$79.63B	30.61	30.78%	―	10.56%	47.16%
TCOM	71 Outperform	$40.67B	9.85	19.95%	0.39%	17.34%	91.51%
TRIP	67 Neutral	$1.55B	20.97	9.57%	―	4.24%	159.81%
BKNG	63 Neutral	$161.23B	32.51	―	0.71%	12.96%	3.66%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MMYT	52 Neutral	$5.92B	124.74	13.02%	―	14.55%	-68.46%

Trip.com Group Sponsored ADR Corporate Events

Trip.com Group Faces Chinese Anti‑Monopoly Investigation, Says Operations Unaffected

On January 14, 2026, Trip.com Group Limited disclosed that it has received a notice of investigation from China’s State Administration for Market Regulation, which has opened an anti-monopoly probe into the company under the country’s Anti-Monopoly Law. Trip.com said it will actively cooperate with regulators and emphasized that its business operations remain normal, signaling that while regulatory scrutiny could pose longer-term compliance and competitive implications, there has been no immediate disruption to its day-to-day activities.

The most recent analyst rating on (TCOM) stock is a Buy with a $86.00 price target. To see the full list of analyst forecasts on Trip.com Group Sponsored ADR stock, see the TCOM Stock Forecast page.