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Tuniu
(NASDAQ:TOUR)
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Rating:65Neutral
Price Target:
$5.50
▲(13.64% Upside)
Action:Reiterated
Date:08/25/26
The score is driven primarily by financial fundamentals that are stable in capital structure but pressured in cash conversion and margins (negative 2025 cash flow and margin compression). Valuation is a major positive due to the very low P/E and high dividend yield, while technical signals are weak/neutral and the latest earnings call suggests continued profitability efforts amid ongoing margin pressure and only modest near-term growth guidance.
Positive Factors
Strong liquidity and low leverage
A CNY 1.0 billion liquidity position combined with minimal debt gives Tuniu financial resilience. This supports continued investment in products and channels, provides protection against travel-demand volatility, and reduces refinancing risk.
Negative Factors
Persistent margin pressure
Gross-profit contraction alongside higher promotional spending shows that revenue growth is not translating efficiently into earnings. Continued investment and a shift toward lower-margin products could constrain operating leverage over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and low leverage
A CNY 1.0 billion liquidity position combined with minimal debt gives Tuniu financial resilience. This supports continued investment in products and channels, provides protection against travel-demand volatility, and reduces refinancing risk.
Read all positive factors
Tuniu (TOUR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.80M
Dividend Yield23.02%
Average Volume (3M)6.49K
Price to Earnings (P/E)5.9
Beta (1Y)0.33
Revenue Growth13.57%
EPS Growth-20.08%
CountryUS
Employees856
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)-2.53
Shares Outstanding10,284,640
10 Day Avg. Volume7,520
30 Day Avg. Volume6,487
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)0.16
Price to Sales (P/S)0.29
P/FCF Ratio-1.41
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.6
Revenue Forecast (FY)$664.67M
Tuniu Business Overview & Revenue Model
Company Description
Tuniu Corporation, together with its subsidiaries, operates as an online leisure travel company in the People's Republic of China. The company offers various packaged tours, including organized tours that provide pre-arranged itineraries, transpor...
How the Company Makes Money
Tuniu primarily makes money by selling leisure travel products—most notably packaged tours—sourced from travel suppliers and partners, and earning revenue from (1) commissions and/or service fees for acting as a distributor or booking agent and (2...
Tuniu Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Dec 04, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but resilient picture: the company delivered modest top-line growth (3% YoY), sustained non-GAAP profitability for a sixth consecutive quarter, expanded product and channel capabilities (including AI enhancements), and maintained a strong cash position (CNY 1.0 billion). However, profitability is under pressure—gross profit fell 11% YoY, other revenues declined materially, sales and marketing spend rose 22%, and product mix shifted toward lower-margin self-guided offerings. Outbound travel weakness in some regions and only modest Q3 guidance highlight ongoing uncertainty. Overall, positive operational progress and liquidity are balanced by margin challenges and market headwinds.Positive Updates
Revenue Growth
Net revenues of CNY 138.9 million in Q2 2026, representing a year-over-year increase of 3%. Packaged tours revenue grew 7% YoY to CNY 121.1 million and accounted for 87% of total net revenues.
Negative Updates
Gross Profit Decline and Margin Pressure
Gross profit decreased 11% YoY to CNY 76.4 million in Q2 2026. Operating expenses were CNY 82.5 million (up 5% YoY), indicating margin pressure and a squeeze between gross profit and operating cost levels.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Net revenues of CNY 138.9 million in Q2 2026, representing a year-over-year increase of 3%. Packaged tours revenue grew 7% YoY to CNY 121.1 million and accounted for 87% of total net revenues.
Read all positive updates
Company Guidance
Tuniu guided Q3 2026 net revenues of CNY 202.1 million to CNY 212.2 million (0%–5% YoY) and said it will try to achieve profitability for another quarter; key Q2 metrics included net revenues of CNY 138.9 million (+3% YoY), packaged tours CNY 121.1 million (+7%) accounting for 87% of revenues, other revenues CNY 17.8 million (13% of revenues, -17% YoY), gross profit CNY 76.4 million (-11% YoY), operating expenses CNY 82.5 million (+5% YoY), R&D CNY 13.8 million (-16%), sales & marketing CNY 54.7 million (+22%), G&A CNY 14.1 million (-20%), GAAP net income attributable to ordinary shareholders CNY 0.7 million, non‑GAAP net income CNY 2.2 million, cash and equivalents/restricted cash/short‑term investments/long‑term deposits of CNY 1.0 billion as of June 30, 2026, operating cash flow CNY 46.9 million, capex CNY 1.4 million, approximately 500 offline stores, double‑digit YoY growth in live‑streaming and offline payment/verification volumes, outbound tours ~30% of GMV (vs. >1/3 last year) with Middle East & Africa transaction volume down >20% YoY, and a premium Singapore private‑tour package that has exceeded CNY 10 million in sales to date.Tuniu Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
82
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 541.10M | 562.23M | 513.62M | 441.27M | 183.62M | 426.35M |
| Gross Profit | 346.92M | 325.86M | 358.03M | 293.69M | 89.55M | 171.53M |
| EBITDA | 31.05M | 24.98M | 81.03M | -65.87M | -147.75M | -57.77M |
| Net Income | 30.07M | 30.28M | 77.17M | -99.29M | -193.38M | -121.52M |
Balance Sheet | ||||||
| Total Assets | 1.85B | 1.60B | 1.91B | 1.96B | 1.88B | 2.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.06B | 1.07B | 897.83M | 1.16B | 878.25M | 964.98M |
| Total Debt | 4.57M | 111.43M | 196.32M | 218.81M | 258.40M | 291.54M |
| Total Liabilities | 884.30M | 642.28M | 900.49M | 980.65M | 819.58M | 1.04B |
| Stockholders Equity | 1.04B | 1.03B | 1.08B | 1.03B | 1.11B | 1.27B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -116.19M | 84.47M | 223.05M | -149.44M | -241.08M |
| Operating Cash Flow | 0.00 | -109.07M | 96.28M | 232.84M | -142.99M | -226.34M |
| Investing Cash Flow | 0.00 | 4.88M | 26.66M | 40.93M | -51.83M | 703.83M |
| Financing Cash Flow | 0.00 | -160.09M | -73.98M | -22.58M | -486.00K | -344.56M |
Tuniu Technical Analysis
Positive
4.84
Price Trends
4.98
Positive
5.32
Negative
5.56
Negative
Market Momentum
-0.02
Negative
59.05
Neutral
76.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOUR, the sentiment is Positive. The current price of 4.84 is below the 20-day moving average (MA) of 4.96, below the 50-day MA of 4.98, and below the 200-day MA of 5.56, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 59.05 is Neutral, neither overbought nor oversold. The STOCH value of 76.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TOUR.
Tuniu Risk Analysis
Tuniu disclosed 79 risk factors in its most recent earnings report. Tuniu reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tuniu Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $50.80M | 5.92 | 2.73% | 23.47% | 13.57% | -20.08% | |
62 Neutral | $843.49M | 1.13 | -69.54% | ― | -3.03% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $1.67B | -70.15 | 9.06% | ― | 18.27% | -39.00% | |
56 Neutral | $5.43B | 161.80 | -14.56% | ― | 6.86% | -59.99% | |
53 Neutral | $63.88M | 57.06 | 3.84% | ― | 3.53% | -701.92% | |
42 Neutral | $21.87M | -1.03 | -254.70% | ― | 1013.82% | 72.69% |
* Consumer Cyclical Sector Average
TOUR
Tuniu
5.20
-2.26
-30.34%
MMYT
Makemytrip
57.13
-42.96
-42.92%
SABR
Sabre
2.06
0.34
19.77%
LIND
Lindblad Expeditions Holdings
26.02
11.54
79.70%
YTRA
Yatra Online
0.98
-0.47
-32.34%
NTRP
NextTrip
1.40
-2.56
-64.65%
Tuniu Corporate Events
Tuniu Posts Modest Q2 2026 Revenue Growth as Costs Rise, Maintains Buyback and Cash Strength
Aug 25, 2026
In the second quarter ended June 30, 2026, Tuniu posted net revenues of RMB138.9 million, up 3% year-on-year, driven by 6.8% growth in packaged tour revenues, while other revenues fell on weaker advertising fees from tourism boards. Rising costs p...
Tuniu Posts Q1 2026 Revenue Growth and Returns to Profit Amid Tourism Rebound
Jun 5, 2026
On June 5, 2026, Nanjing-based Tuniu reported unaudited results for the quarter ended March 31, 2026, showing net revenues of RMB132.6 million, up 12.8% year over year, driven by growth in packaged tours and advertising-related services. The onlin...
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.