Trip.com Group Limited (TCOM) Financial Ratios
23 years of historical data (2002–2024) · Consumer Cyclical · Travel Services
EV/EBITDA
↓
15.60
↓-20% vs avg
5yr avg: 19.51
30Y Low0.0·High53.6
P/FCF
↓
12.74
↑+132% vs avg
5yr avg: 5.50
30Y Low1.1·High10.9
P/B Ratio
↑
1.78
↑+740% vs avg
5yr avg: 0.21
30Y Low0.1·High2.7
ROE
↑
12.8%
↓+240% vs avg
5yr avg: 3.8%
30Y Low-3%·High33%
Debt/EBITDA
↓
2.68
↓-85% vs avg
5yr avg: 18.35
30Y Low0.4·High48.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TCOM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Trip.com Group Limited trades at 15.0x earnings, 111% above its 5-year average of 7.1x, sitting at the 84th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.6x, the stock trades at a discount of 24%. On a free-cash-flow basis, the stock trades at 12.7x P/FCF, 132% above the 5-year average of 5.5x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $35.6B | $47.3B | $24.2B | $21.8B | $15.6B | $20.3B | $21.5B | $15.4B | $25.3B | $18.9B | $17.6B |
| Enterprise Value | $34.4B | $39.2B | $28.1B | $51.5B | $47.5B | $59.6B | $52.8B | $54.0B | $52.6B | $42.0B | $29.4B |
| P/E Ratio → | 14.98 | 2.77 | 2.44 | 16.07 | — | — | 3.07 | 13.81 | 11.54 | — | 6.52 |
| P/S Ratio | 4.55 | 0.89 | 0.54 | 1.09 | 0.78 | 1.11 | 0.60 | 0.50 | 0.95 | 0.98 | 1.61 |
| P/B Ratio | 1.78 | 0.33 | 0.20 | 0.19 | 0.14 | 0.20 | 0.20 | 0.17 | 0.29 | 0.25 | 0.28 |
| P/FCF | 12.74 | 2.48 | 1.13 | 10.18 | 8.20 | — | 3.31 | 2.40 | 3.85 | 4.13 | 7.34 |
| P/OCF | 12.36 | 2.41 | 1.10 | 8.26 | 6.31 | — | 2.94 | 2.16 | 3.58 | 3.59 | 5.76 |
P/E links to full P/E history page with 30-year chart
TCOM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Trip.com Group Limited's enterprise value stands at 15.6x EBITDA, 20% below its 5-year average of 19.5x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 37% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.73 | 0.63 | 2.57 | 2.37 | 3.25 | 1.48 | 1.74 | 1.96 | 2.18 | 2.70 |
| EV / EBITDA | 15.60 | 2.61 | 2.32 | 53.62 | — | — | 8.62 | 15.06 | 13.76 | — | 42.30 |
| EV / EBIT | 16.53 | 2.76 | 2.49 | 584.91 | — | — | 10.49 | 20.72 | 17.88 | — | 77.18 |
| EV / FCF | — | 2.06 | 1.32 | 24.02 | 24.96 | — | 8.13 | 8.43 | 8.00 | 9.17 | 12.30 |
TCOM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Trip.com Group Limited earns an operating margin of 26.6%, significantly above the Consumer Cyclical sector average of 2.9%. Operating margins have expanded from 0.4% to 26.6% over the past 3 years, signaling improving operational efficiency. ROE of 12.8% is modest. ROIC of 8.1% represents adequate returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.3% | 81.3% | 81.8% | 77.5% | 77.0% | 78.0% | 79.3% | 79.6% | 82.5% | 75.4% | 72.1% |
| Operating Margin | 26.6% | 26.6% | 25.4% | 0.4% | -7.0% | -7.8% | 14.1% | 8.4% | 11.0% | -8.1% | 3.5% |
| Net Profit Margin | 32.0% | 32.0% | 22.3% | 7.0% | -2.7% | -17.7% | 19.7% | 3.6% | 8.0% | -7.4% | 23.0% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.8% | 12.8% | 8.4% | 1.3% | -0.5% | -3.1% | 7.2% | 1.3% | 2.7% | -2.0% | 6.8% |
| ROA | 7.4% | 7.4% | 4.8% | 0.7% | -0.3% | -1.7% | 3.6% | 0.6% | 1.4% | -1.1% | 3.3% |
| ROIC | 8.1% | 8.1% | 6.3% | 0.0% | -0.7% | -0.8% | 2.9% | 1.6% | 2.1% | -1.3% | 0.6% |
| ROCE | 9.0% | 9.0% | 8.2% | 0.1% | -1.1% | -1.1% | 4.1% | 2.2% | 2.5% | -1.6% | 0.7% |
TCOM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Trip.com Group Limited carries a Debt/EBITDA ratio of 2.7x, which is moderately leveraged (39% below the sector average of 4.4x). The company holds a net cash position — cash of $48.4B exceeds total debt of $40.3B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 8.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.28 | 0.37 | 0.41 | 0.47 | 0.57 | 0.48 | 0.68 | 0.53 | 0.55 | 0.49 |
| Debt / EBITDA | 2.68 | 2.68 | 3.75 | 48.60 | — | — | 8.35 | 16.78 | 11.91 | — | 44.68 |
| Net Debt / Equity | — | -0.06 | 0.03 | 0.26 | 0.29 | 0.39 | 0.30 | 0.44 | 0.32 | 0.31 | 0.19 |
| Net Debt / EBITDA | -0.54 | -0.54 | 0.33 | 30.89 | — | — | 5.11 | 10.78 | 7.14 | — | 17.04 |
| Debt / FCF | — | -0.43 | 0.19 | 13.84 | 16.76 | — | 4.82 | 6.03 | 4.15 | 5.04 | 4.96 |
| Interest Coverage | 8.17 | 8.17 | 5.48 | 0.06 | -0.90 | -0.83 | 3.01 | 1.73 | 2.29 | -2.12 | 1.26 |
Net cash position: cash ($48.4B) exceeds total debt ($40.3B)
TCOM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.51x means Trip.com Group Limited can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.00x to 1.51x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.51 | 1.51 | 1.23 | 1.00 | 1.00 | 0.99 | 0.98 | 1.15 | 1.41 | 1.52 | 1.21 |
| Quick Ratio | 1.51 | 1.51 | 1.23 | 1.00 | 1.00 | 0.99 | 0.98 | 1.15 | 1.41 | 1.52 | 1.21 |
| Cash Ratio | 1.04 | 1.04 | 0.82 | 0.69 | 0.75 | 0.74 | 0.62 | 0.85 | 1.10 | 1.07 | 0.82 |
| Asset Turnover | — | 0.22 | 0.20 | 0.10 | 0.10 | 0.10 | 0.18 | 0.17 | 0.17 | 0.13 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 149.59 | 155.47 | 207.57 | 193.48 | 176.95 | 137.31 | 104.59 | 78.81 | 110.01 | 162.59 |
TCOM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Trip.com Group Limited returns 0.9% to shareholders annually primarily through share buybacks. The earnings yield of 6.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 36.1% | 41.0% | 6.2% | — | — | 32.6% | 7.2% | 8.7% | — | 15.3% |
| FCF Yield | 7.8% | 40.3% | 88.5% | 9.8% | 12.2% | — | 30.2% | 41.7% | 26.0% | 24.2% | 13.6% |
| Buyback Yield | 0.9% | 4.6% | 6.7% | 0.0% | 0.0% | 0.0% | 0.0% | 7.8% | 0.0% | 0.0% | 5.0% |
| Total Shareholder Yield | 0.9% | 4.6% | 6.7% | 0.0% | 0.0% | 0.0% | 0.0% | 7.8% | 0.0% | 0.0% | 5.0% |
| Shares Outstanding | — | $689M | $671M | $634M | $634M | $601M | $642M | $567M | $574M | $473M | $379M |
Peer Comparison
Compare TCOM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TCOMYou | $36B | 15.0 | 15.6 | 12.7 | 81.3% | 26.6% | 12.8% | 8.1% | 2.7 |
 BKNG | $130B | 25.4 | 13.2 | 14.4 | 100.0% | 34.5% | — | — | 1.9 |
 EXPE | $33B | 25.1 | 11.3 | 10.5 | 84.1% | 13.4% | 48.4% | 40.2% | 2.3 |
 ABNB | $85B | 34.7 | 31.6 | 18.3 | 83.0% | 20.8% | 30.2% | 51.0% | 0.8 |
 TRIP | $1B | 36.0 | 8.6 | 7.8 | 62.0% | 4.2% | 5.0% | 7.4% | 7.2 |
 MMYT | $4B | 59.6 | 28.3 | 25.5 | 72.0% | 12.3% | 8.2% | 9.2% | 1.6 |
 TRVG | $225M | 18.1 | 17.1 | 59.5 | 97.3% | 0.3% | 5.5% | 1.0% | 6.4 |
 TZOO | $99M | 22.2 | 13.8 | 17.8 | 80.3% | 7.5% | 486.3% | — | 1.4 |
 UAL | $32B | 9.8 | 7.5 | 12.7 | 64.1% | 8.0% | 24.0% | 9.1% | 4.1 |
 DAL | $48B | 9.6 | 7.8 | 12.5 | 22.8% | 9.2% | 27.8% | 12.0% | 2.6 |
 MAR | $95B | 37.8 | 25.2 | 36.5 | 21.3% | 15.8% | — | 25.0% | 3.8 |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 15.0 | 36.9% | 2.9% | 5.6% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonTCOM — Frequently Asked Questions
Quick answers to the most common questions about buying TCOM stock.
What is Trip.com Group Limited's P/E ratio?
Trip.com Group Limited's current P/E ratio is 15.0x. The historical average is 15.8x. This places it at the 84th percentile of its historical range.
What is Trip.com Group Limited's EV/EBITDA?
Trip.com Group Limited's current EV/EBITDA is 15.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.3x.
What is Trip.com Group Limited's ROE?
Trip.com Group Limited's return on equity (ROE) is 12.8%. The historical average is 13.3%.
Is TCOM stock overvalued?
Based on historical data, Trip.com Group Limited is trading at a P/E of 15.0x. This is at the 84th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Trip.com Group Limited's profit margins?
Trip.com Group Limited has 81.3% gross margin and 26.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Trip.com Group Limited have?
Trip.com Group Limited's Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.