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MARKETS / NASDAQ / TCOM
NASDAQ · SERVICES-BUSINESS SERVICES, NEC · LARGE CAP

Trip.com Group Ltd. TCOM

18 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 62.5B
▲ 17.1% YoY
CNY 33.3B
▲ 95.1% YoY
CNY 13.6B
▼ 28.6% YoY
In brief

What this company does

Trip.com Group offers accommodation reservation, transportation ticketing, packaged tours and corporate travel management services, as well as other travel-related services for leisure and business travelers, through its travel platform. As of December 31, 2025, its open platform provided approximately 1.7 million global accommodation listings, offered flights from over 680 airlines and had a network of over 60,000 other ecosystem partners. Over 90% of total transaction orders were executed through its mobile channels in the year ended December 31, 2025. The company had around 6,000 offline stores across approximately 300 cities in China as of December 31, 2025. It operates under a portfolio of brands that includes Ctrip and Qunar in China, Trip.com for global travelers and the travel search company Skyscanner. In substantially all hotel-related transactions it acts as an agent, earning substantially all of its accommodation reservation revenue from commissions paid by hotel reservation partners. Air tickets are sold as an agent for substantially all PRC airlines and major international airlines operating flights. It was founded in 1999 and listed on Nasdaq in 2003 and on the Hong Kong Stock Exchange in 2021.

Written from the business description in Trip.com Group Ltd's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2026. Every sentence was checked against that document before publication.

Growth
CNY 62.5B
Revenue, FY2025 · full 18-year series below
Revenue CNY B Net income CNY B
FY2025 · Revenue 62.5 · Net income 33.3
25.0B50.0B2008201120142017202020232025
Compound annual growth
+46.1%
+27.8%
+18.5%
+22.3%
+187.4%
+29.5%
+25.9%
+20.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +27.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
53 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 25.2% · Net 53.4%
20%40%-5%-10%-15%2008201120142017202020232025
ROE
FY2025 · ROE 21.3%
10%20%-1%-2%-3%2008201120142017202020232025

Each CNY of equity produced 21 cents of profit this year.

Cash & shareholders
CNY 5.3B
returned in FY2025 · dividends + net buybacks
Free cash flow CNY B
FY2025 · FCF 13.6
8B16B-2B-4B2008201120142017202020232025
Net buybacks CNY B Dividends CNY B
FY2025 · Dividends 1.4 · Net buybacks 3.9
2.0B4.0B-0.8BDividendsNet buybacks2008200920102011201220142015202320242025

CNY 1.4B in dividends and CNY 3.9B in buybacks — 16% of the year's profit went back to shareholders.

Total assetsCNY 267.4B
EquityCNY 170.8B
CashCNY 39.8B
Gross debtCNY 30.8B
Net debtCNY -9.1B
Current ratio1.55×

The company holds more cash than debt.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue CNY B62.553.444.620.120.018.335.731.127.019.811.57.85.74.43.73.12.11.5
Operating income CNY B15.814.211.30.1−1.4−1.45.02.62.9−1.60.4−0.20.80.71.11.10.70.5
EBITDA CNY B16.414.812.00.7−0.7−0.65.73.23.4−1.10.60.00.90.71.11.10.7·
Income tax CNY B5.82.61.80.70.30.41.70.81.30.50.50.10.30.30.30.20.10.1
Net income CNY B33.317.19.91.4−0.6−3.27.01.12.2−1.42.50.21.00.71.11.00.70.4
Free cash flow CNY B13.619.021.42.11.9−4.46.56.46.64.62.4−2.81.81.11.61.40.90.5
EPS, diluted CNY ···············27.8918.6912.90
Dividend / sh CNY ··················
Payout %4················25
ROE %21.312.98.51.3−0.5−3.27.41.32.8−2.49.32.713.310.616.423.222.5·
Shares out B0.650.650.640.65··0.070.070.070.060.050.040.030.030.040.040.03·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures · 8 divergences in 73 reconciliationsAUDITED

Reconciled in 10 of 19 fiscal years. 8 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 22 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures8 divergent
ActivityServices-Business Services, NEC
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2008

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