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Trip.com Group Sponsored ADR
(NASDAQ:TCOM)
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Rating:72Outperform
Price Target:
$44.00
▼(-2.53% Downside)
Action:Reiterated
Date:09/26/26
Overall score is driven mainly by strong underlying financial performance (high margins, improved operating profitability, and a de-risking balance sheet) and a notably low P/E valuation. These strengths are tempered by weak technicals (downtrend versus major moving averages and negative MACD) and near-term growth moderation/uncertainty highlighted on the latest earnings call (softer Q2 outlook, higher spend, and regulatory impacts).
Positive Factors
Broad-based revenue growth
Revenue growth is broad across accommodation, transportation, packages, and corporate travel, reducing reliance on one booking category. This breadth supports cross-selling across the platform and makes sustained scale benefits more credible as travel demand normalizes.
Negative Factors
Antitrust penalty
The large anti-monopoly penalty demonstrates that regulatory intervention can materially disrupt reported earnings and raise operating costs. Continued scrutiny may require further compliance changes, constrain monetization practices, and create uncertainty around sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-based revenue growth
Revenue growth is broad across accommodation, transportation, packages, and corporate travel, reducing reliance on one booking category. This breadth supports cross-selling across the platform and makes sustained scale benefits more credible as travel demand normalizes.
Read all positive factors
Trip.com Group Sponsored ADR (TCOM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.11B
Dividend Yield0.45%
Average Volume (3M)3.68M
Price to Earnings (P/E)7.2
Beta (1Y)0.87
Revenue Growth18.08%
EPS Growth35.16%
CountryUS
Employees43,574
SectorGeneral
Sector StrengthN/A
IndustryTravel Services
Share Statistics
EPS (TTM)36.75
Shares Outstanding695,779,100
10 Day Avg. Volume2,608,796
30 Day Avg. Volume3,679,116
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.93
Price to Sales (P/S)5.45
P/FCF Ratio24.35
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue0.41
Enterprise Value/Gross Profit0.52
Enterprise Value/Ebitda0.88
Forecast
1Y Price Target
$58.32Price Target Upside29.19% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)23.63
Revenue Forecast (FY)$66.74B
Trip.com Group Sponsored ADR Business Overview & Revenue Model
Company Description
Trip.com Group Limited stands as a leading global travel service provider, operating extensively both within China and across international markets. Through its various subsidiaries, the company offers a comprehensive spectrum of travel-related so...
How the Company Makes Money
Trip.com Group primarily makes money by facilitating travel bookings and related services on its platforms and earning fees tied to those transactions. Key revenue streams generally include: (1) Accommodation reservation services: revenue earned f...
Trip.com Group Sponsored ADR Earnings Call Summary
Earnings Call Date:Jun 24, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 23, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum across multiple fronts—top-line growth, international and inbound expansion, segment-level gains, improved adjusted EBITDA, a large cash balance, and strategic AI investments. These positives are tempered by a moderated Q2 revenue outlook, higher marketing and product spending, airline capacity and airfare pressures, and active regulatory/compliance adjustments that may create near-term headwinds. Overall the company emphasizes disciplined execution and long-term strategic positioning despite near-term moderation and regulatory uncertainty.Positive Updates
Strong Group Revenue Growth
Group net revenue of RMB 16.2 billion in Q1 2026, a 17% year-over-year increase.
Negative Updates
Moderated Q2 Guidance
Q2 2026 net revenue growth guidance reduced to ~3%–8% YoY, indicating a meaningful moderation from Q1's exceptionally strong growth.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Group Revenue Growth
Group net revenue of RMB 16.2 billion in Q1 2026, a 17% year-over-year increase.
Read all positive updates
Company Guidance
Trip.com guided Q2 2026 net revenue growth of approximately 3%–8% year‑over‑year, reflecting a moderation from Q1’s exceptionally strong environment and incorporating the near‑term impact of higher airfares, tighter airline capacity and some long‑haul disruptions as well as operational and compliance upgrades. For context the company reported Q1 net revenue of RMB 16.2 billion (up 17% YoY), OTA gross bookings of ~RMB 300 billion, adjusted EBITDA of RMB 4.8 billion (vs RMB 4.2 billion a year ago), accommodation revenue RMB 6.5 billion (+17% YoY), transportation revenue RMB 6.1 billion (+12%), package tour revenue RMB 1.1 billion (+19%), corporate travel revenue RMB 690 million (+20%), international OTA gross bookings +65% YoY, inbound gross bookings +90% YoY (≈7 million inbound travelers in Q1; ~20 million inbound visitors in the prior year; 200 million inbound target over five years), diluted EPS RMB 3.67 ($0.53) and non‑GAAP diluted EPS RMB 5.73 ($0.83), and cash/short‑term investments of RMB 104.0 billion ($15.1 billion) as of March 31, 2026.Trip.com Group Sponsored ADR Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
80
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 65.30B | 60.71B | 53.29B | 44.51B | 20.04B | 20.02B |
| Gross Profit | 52.27B | 48.92B | 43.30B | 36.39B | 15.53B | 15.43B |
| EBITDA | 30.76B | 40.05B | 22.67B | 14.87B | 4.85B | 2.60B |
| Net Income | 24.14B | 32.39B | 17.07B | 9.92B | 1.40B | -550.00M |
Balance Sheet | ||||||
| Total Assets | 259.09B | 267.56B | 242.58B | 219.14B | 191.69B | 191.86B |
| Cash, Cash Equivalents and Short-Term Investments | 79.52B | 78.51B | 76.91B | 59.34B | 42.55B | 49.38B |
| Total Debt | 26.96B | 31.37B | 40.32B | 45.57B | 46.66B | 51.72B |
| Total Liabilities | 98.28B | 94.85B | 99.10B | 96.13B | 78.67B | 81.40B |
| Stockholders Equity | 159.19B | 171.06B | 142.55B | 122.18B | 112.28B | 109.68B |
Cash Flow | ||||||
| Free Cash Flow | 13.58B | 13.58B | 19.03B | 21.40B | 2.14B | 1.90B |
| Operating Cash Flow | 14.38B | 14.38B | 19.63B | 22.00B | 2.64B | 2.48B |
| Investing Cash Flow | -4.18B | -4.18B | -6.05B | 5.92B | 1.14B | -4.15B |
| Financing Cash Flow | -14.66B | -14.66B | -6.71B | -2.55B | -6.72B | 3.92B |
Trip.com Group Sponsored ADR Technical Analysis
Negative
45.14
Price Trends
41.33
Negative
43.04
Negative
49.11
Negative
Market Momentum
-0.36
Negative
46.33
Neutral
68.08
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 45.14 is above the 20-day moving average (MA) of 39.07, above the 50-day MA of 41.33, and below the 200-day MA of 49.11, indicating a neutral trend. The MACD of -0.36 indicates Negative momentum. The RSI at 46.33 is Neutral, neither overbought nor oversold. The STOCH value of 68.08 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 Risk Analysis
Trip.com Group Sponsored ADR disclosed 78 risk factors in its most recent earnings report. Trip.com Group Sponsored ADR reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
We have limited business insurance coverage. Q4, 2023
Trip.com Group Sponsored ADR Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $119.00B | 17.47 | -96.70% | 1.04% | 12.85% | 56.24% | |
73 Outperform | $36.10B | 17.12 | 184.84% | 0.64% | 12.00% | 92.75% | |
73 Outperform | $105.95B | 39.30 | 33.38% | ― | 14.20% | 6.18% | |
72 Outperform | $26.11B | 7.22 | 14.59% | 0.45% | 18.08% | 35.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | $4.17B | 125.46 | -14.56% | ― | 6.86% | -59.99% | |
49 Neutral | $1.11B | 236.00 | 0.76% | 12.33% | -4.37% | -92.21% |
* General Sector Average
TCOM
Trip.com Group Sponsored ADR
39.31
-31.77
-44.70%
EXPE
Expedia
285.64
71.58
33.44%
MMYT
Makemytrip
44.30
-44.64
-50.19%
BKNG
Booking Holdings
158.38
-43.51
-21.55%
TRIP
TripAdvisor
9.44
-6.66
-41.37%
ABNB
Airbnb
173.69
46.34
36.39%
Trip.com Group Sponsored ADR Corporate Events
Trip.com Group Posts Q2 2026 Growth but Books Loss on China Antitrust Penalty
Sep 16, 2026
Trip.com Group reported unaudited financial results for the second quarter and first half of 2026 on September 15, 2026, highlighting robust international growth with revenue on its international platform up more than 50% year-on-year and inbound ...
Trip.com Group Issues Interim 2026 Results with U.S. GAAP–IFRS Reconciliation
Sep 16, 2026
On September 16, 2026, Trip.com Group published its unaudited financial results for the second quarter and first half of 2026 as an interim report for the six months ended June 30, 2026 on the Hong Kong Stock Exchange. To comply with Hong Kong lis...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.