Online travel group providing accommodation, transport tickets, packaged tours and corporate travel through Trip.com, Ctrip and other brands.
Profile & Fundamentals
Trip.com Group: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Trip.com Group Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours, in-destination, corporate travel management, and other travel-related services in China and internationally. It 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. The company also provides travelers bundled packaged-tour products, such as group, semi-group, and customized and packaged tours with various transportation arrangements, including air, cruise, bus, and car rental services. In addition, it offers integrated transportation and accommodation services; ticket, activity, insurance, visa, and tour guide services; and user support, supplier management, and customer relationship management services; and in-destination products and services. Further, the company provides Trip.Biz, a digital first, full-service, corporate travel management business which provides technology-enabled solutions for organizations managing business travel. Additionally, it offers online advertising and financial services, such as marketing planning and travel media services; Omni-Channel Touchpoints for Users; and Open Platform for Ecosystem Partners. It operates under the Ctrip, Qunar, Trip.com, Travix, Travelfusion, and Skyscanner brand names. 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.
Company profile record
Trip.com Group Ltd
Common Stock · Consumer Discretionary · Hotels, Resorts & Cruise Lines
Company
- Company / asset
- Trip.com Group Ltd
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Hotels, Resorts & Cruise Lines
- HQ
- 🇨🇳 China
- Head office
- 30 Raffles Place, Singapore, Singapore, 048622
Leadership & scale
- Chief executive
- Ms. Jie Sun CPA
- CEO year born
- 1969
- Full-time employees
- 43.6K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- HKD 190.3B
- P/E
- 7.1x
- Revenue (Q2 26)
- CNY 15.7B
- Profit (Q2 26)
- CNY -2.5B
- Dividend Yield
- --
- Revenue (FY 25)
- CNY 62.4B
- Shares in public float
- 570.6M
- Insider ownership
- 7.93%
Reporting & identifiers
- Symbol
- 9961.HKEX
- Listing
- 🇭🇰 Hong Kong | Dividend Tax: 0%
- Ticker Currency
- HKD
- Income Statement Currency
- CNY
- Balance Sheet Currency
- CNY
- Cash Flow Currency
- CNY
- EPS Currency
- CNY
- Contract Type
- SPOT
- ISIN
- KYG9066F1019
- Asset ID
- equity_631bdd95-9cf2-596c-bf95-9a7afe7cdb2d
Ownership
Shares Outstanding
Latest: 632.3M | Max: 700.5M | Min: 550.1M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
90.24%
570.6M latest reported shares
Insider Ownership
7.93%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 590,762,600 |
| 2018-01-01 | 550,064,400 |
| 2019-01-01 | 643,408,100 |
| 2020-01-01 | 599,627,100 |
| 2021-01-01 | 646,213,500 |
| 2022-01-01 | 658,660,800 |
| 2023-01-01 | 668,332,400 |
| 2024-01-01 | 698,171,000 |
| 2025-01-01 | 700,452,300 |
| 2026-01-01 | 632,330,300 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Trip.com's headline financial figures tell a story that looks confusing on the surface but is straightforward upon closer inspection. In fiscal 2025, reported net profit spiked dramatically to CNY 33.3 billion, but over half of that came from selling a large equity stake in an Indian travel company rather than regular booking operations. Then, in the second quarter of 2026, the company posted a headline loss of CNY 2.46 billion due entirely to a one-time government antitrust fine of CNY 5.18 billion. Beneath these temporary accounting distortions, core travel operations remain solidly profitable. Core quarterly non-GAAP net income reached approximately CNY 4.8 billion, driven by international bookings surging over fifty percent. While domestic travel spending has become more cautious, recurring cash earnings remain healthy and are poised to rebound as one-off regulatory penalties fade.
Trip.com's headline financial figures tell a story that looks confusing on the surface but is straightforward upon closer inspection. In fiscal 2025, reported net profit spiked dramatically to CNY 33.3 billion, but over half of that came from selling a large equity stake in an Indian travel company rather than regular booking operations. Then, in the second quarter of 2026, the company posted a headline loss of CNY 2.46 billion due entirely to a one-time government antitrust fine of CNY 5.18 billion. Beneath these temporary accounting distortions, core travel operations remain solidly profitable. Core quarterly non-GAAP net income reached approximately CNY 4.8 billion, driven by international bookings surging over fifty percent. While domestic travel spending has become more cautious, recurring cash earnings remain healthy and are poised to rebound as one-off regulatory penalties fade.
Revenue, Net Income, and Free Cash Flow
Latest: CNY 62.4B | Max: CNY 62.4B | Min: CNY -4.4B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 11x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Trip.com's profit margins reflect powerful marketplace economics. Gross profit margins have remained remarkably steady above 80%, demonstrating that hotels and airlines still rely heavily on the platform to reach travelers. However, the profit margins that reach shareholders have recently faced pressure from two distinct forces. First, new regulatory rules ended exclusive hotel arrangements, forcing Trip.com to spend more on partner incentives and advertising. Second, expanding rapidly into international markets requires higher initial marketing costs to win new customers against overseas rivals. As customer service automation takes over and overseas users become repeat bookers, normalized operating margins should stabilize between 25% and 27%, supporting durable long-term profitability.
Trip.com's profit margins reflect powerful marketplace economics. Gross profit margins have remained remarkably steady above 80%, demonstrating that hotels and airlines still rely heavily on the platform to reach travelers. However, the profit margins that reach shareholders have recently faced pressure from two distinct forces. First, new regulatory rules ended exclusive hotel arrangements, forcing Trip.com to spend more on partner incentives and advertising. Second, expanding rapidly into international markets requires higher initial marketing costs to win new customers against overseas rivals. As customer service automation takes over and overseas users become repeat bookers, normalized operating margins should stabilize between 25% and 27%, supporting durable long-term profitability.
Profitability Margins
Latest: 80.6% | Max: 82.5% | Min: -17.7%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
80.6%
Gross profit / revenue
Operating Margin
25.3%
Operating income / revenue
Net Margin
53.3%
Net income / revenue
FCF Margin
21.8%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 2,481,089,008.26 | -184,606,863.87 | 659,523,529.5 |
| 2017-12-31 | 4,113,614,595.7 | 329,034,030.26 | 1,009,934,803.38 |
| 2018-12-31 | 4,500,726,744.19 | 161,627,906.98 | 931,250,000 |
| 2019-12-31 | 5,124,425,287.36 | 1,007,327,586.21 | 933,764,367.82 |
| 2020-12-31 | 2,804,900,459.42 | -497,243,491.58 | -666,921,898.93 |
| 2021-12-31 | 3,148,270,440.25 | -86,477,987.42 | 299,371,069.18 |
| 2022-12-31 | 2,904,202,898.55 | 203,333,333.33 | 310,579,710.14 |
| 2023-12-31 | 6,269,014,084.51 | 1,396,901,408.45 | 3,013,802,816.9 |
| 2024-12-31 | 7,300,547,945.21 | 2,337,945,205.48 | 2,607,397,260.27 |
| 2025-12-31 | 8,928,326,180.26 | 4,763,090,128.76 | 1,943,061,516.45 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 10.68 | Trailing four quarters |
| 2024-12-31 | 20.36 | Trailing four quarters |
| 2023-12-31 | 17.05 | Trailing four quarters |
| 2022-12-31 | 113.48 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 75.4 | -8.16 | -7.44 | 26.58 |
| 2017-12-31 | 82.53 | 10.93 | 8 | 24.55 |
| 2018-12-31 | 79.58 | 8.41 | 3.59 | 20.69 |
| 2019-12-31 | 79.33 | 26.11 | 19.66 | 18.22 |
| 2020-12-31 | 77.99 | -7.77 | -17.73 | -23.78 |
| 2021-12-31 | 77.04 | -7.05 | -2.75 | 9.51 |
| 2022-12-31 | 77.48 | 0.44 | 7 | 10.69 |
| 2023-12-31 | 81.75 | 25.44 | 22.28 | 48.07 |
| 2024-12-31 | 81.25 | 26.6 | 32.02 | 35.72 |
| 2025-12-31 | 80.58 | 25.27 | 53.35 | 21.76 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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