Reading the tape
NASDAQ: TCOM
Trip.com Group Limited
Consumer Cyclical · Travel Services
Market Cap
$33.89B
52w High
$78.99
52w Low
$48.48
P/E
7.15
Volume
2.21M
Outstanding Shares
643.25M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -14.99%Revenue (TTM): 16.7%FCF (TTM): 570.41%P/FCF: 10th pct
What changed
The stock fell 14.99% over the last year. Revenue grew 16.7% over the trailing twelve months. Operating margin moved from 26.6% to 25.3%. Free cash flow grew 570.41% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 10th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 25.3%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
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.
CEOJie Sun
SectorConsumer Cyclical
IndustryTravel Services
Employees41,073
IPO dateDec 9, 2003
Valuation
Forward P/E—
EV/EBITDA19.53
Enterprise value$315.63B
Stock splits
Dec 2, 2015↑ Forward
Every 1 shares became 2
Jan 21, 2010↑ Forward
Every 1 shares became 2
Jul 31, 2007↑ Forward
Every 1 shares became 2
Apr 11, 2006↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth19.16%
Gross margin80.58%▼0.83%vs FY2024
Operating margin25.31%▼4.99%vs FY2024
ROE18.93%▲58.14%vs FY2024
Analyst consensus
RatingBuy
Target price$75.00▲42.37%
31
Buy
10
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 18, 2026
Q2 FY26 · EPS est $0.85 · Revenue est $2.3B
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