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Tongcheng Travel Valuation Multiples
Discover revenue and EBITDA valuation multiples for Tongcheng Travel and similar public comparables like Scout24, Vend Marketplaces, Autotrader Group, Lyft and more.
Tongcheng Travel Overview
About Tongcheng Travel
Tongcheng Travel is an online travel agency platform that provides booking services for hotel and ticketing in China. It generated 84% of its revenue from accommodation reservations and transportation ticketing in 2023. The rest came from advertising and in-house software sales. The platform provides both online and offline services in the form of call centers and travel kiosks. Tongcheng Travel was formed from the merger of Tongcheng Network and eLong in 2018. It is currently 21.38% owned by Tencent and 20.86% by Trip.com. Tongcheng targets lower-tier cities and as of 2021, 86.7% of its users are from non-first-tier cities in China and 61.7% of new paying users on Weixin were from Tier 3 or below cities in China. The company competes with Trip.com, Alibaba's Fliggy, and Meituan.
Founded
2016
HQ
Employees
10.1K
Website
Financials (LTM)
EV
$5B
Tongcheng Travel Financials
Tongcheng Travel reported last 12-month revenue of $3B and EBITDA of $726M.
In the same LTM period, Tongcheng Travel generated $2B in gross profit, $726M in EBITDA, and $391M in net income.
Revenue (LTM)
Tongcheng Travel P&L
In the most recent fiscal year, Tongcheng Travel reported revenue of $3B and EBITDA of $537M.
Tongcheng Travel expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 67% | XXX | 64% | XXX | XXX | XXX |
| EBITDA | $726M | XXX | $537M | XXX | XXX | XXX |
| EBITDA Margin | 25% | XXX | 21% | XXX | XXX | XXX |
| EBIT Margin | 17% | XXX | 14% | XXX | XXX | XXX |
| Net Profit | $391M | XXX | $289M | XXX | XXX | XXX |
| Net Margin | 13% | XXX | 11% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Tongcheng Travel Stock Performance
Tongcheng Travel has current market cap of $5B, and enterprise value of $5B.
Market Cap Evolution
Tongcheng Travel's stock price is $2.33.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5B | $5B | -2.1% | XXX | XXX | XXX | $0.12 |
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Start Free TrialTongcheng Travel Valuation Multiples
Tongcheng Travel trades at 1.6x EV/Revenue multiple, and 6.3x EV/EBITDA.
EV / Revenue (LTM)
Tongcheng Travel Financial Valuation Multiples
As of April 14, 2026, Tongcheng Travel has market cap of $5B and EV of $5B.
Equity research analysts estimate Tongcheng Travel's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Tongcheng Travel has a P/E ratio of 14.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV/Revenue | 1.6x | XXX | 1.8x | XXX | XXX | XXX |
| EV/EBITDA | 6.3x | XXX | 8.5x | XXX | XXX | XXX |
| EV/EBIT | 9.1x | XXX | 13.0x | XXX | XXX | XXX |
| EV/Gross Profit | 2.3x | XXX | 2.8x | XXX | XXX | XXX |
| P/E | 14.0x | XXX | 19.0x | XXX | XXX | XXX |
| EV/FCF | 10.0x | XXX | 12.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Tongcheng Travel Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Tongcheng Travel Margins & Growth Rates
Tongcheng Travel's revenue in the last 12 month grew by 13%.
Tongcheng Travel's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.
Tongcheng Travel's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Tongcheng Travel's rule of X is 60% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Tongcheng Travel Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 13% | XXX | 11% | XXX | XXX | XXX |
| EBITDA Margin | 25% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | 17% | XXX | 28% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 39% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 60% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 31% | XXX | 32% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 6% | XXX | 7% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 10% | XXX | 12% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 50% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Tongcheng Travel Public Comps
See public comps and valuation multiples for other Travel Services and Online Travel comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Tongcheng Travel | XXX | XXX | XXX | XXX | XXX | XXX |
| Scout24 | XXX | XXX | XXX | XXX | XXX | XXX |
| Vend Marketplaces | XXX | XXX | XXX | XXX | XXX | XXX |
| Autotrader Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Lyft | XXX | XXX | XXX | XXX | XXX | XXX |
| BOSS Zhipin | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Tongcheng Travel M&A Activity
Tongcheng Travel acquired XXX companies to date.
Last acquisition by Tongcheng Travel was on XXXXXXXX, XXXXX. Tongcheng Travel acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Tongcheng Travel
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTongcheng Travel Investment Activity
Tongcheng Travel invested in XXX companies to date.
Tongcheng Travel made its latest investment on XXXXXXXX, XXXXX. Tongcheng Travel invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Tongcheng Travel
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Tongcheng Travel
| When was Tongcheng Travel founded? | Tongcheng Travel was founded in 2016. |
| Where is Tongcheng Travel headquartered? | Tongcheng Travel is headquartered in China. |
| How many employees does Tongcheng Travel have? | As of today, Tongcheng Travel has over 10K employees. |
| Who is the CEO of Tongcheng Travel? | Tongcheng Travel's CEO is Heping Ma. |
| Is Tongcheng Travel publicly listed? | Yes, Tongcheng Travel is a public company listed on HKEX. |
| What is the stock symbol of Tongcheng Travel? | Tongcheng Travel trades under 00780 ticker. |
| When did Tongcheng Travel go public? | Tongcheng Travel went public in 2018. |
| Who are competitors of Tongcheng Travel? | Tongcheng Travel main competitors are Scout24, Vend Marketplaces, Autotrader Group, Lyft. |
| What is the current market cap of Tongcheng Travel? | Tongcheng Travel's current market cap is $5B. |
| What is the current revenue of Tongcheng Travel? | Tongcheng Travel's last 12 months revenue is $3B. |
| What is the current revenue growth of Tongcheng Travel? | Tongcheng Travel revenue growth (NTM/LTM) is 13%. |
| What is the current EV/Revenue multiple of Tongcheng Travel? | Current revenue multiple of Tongcheng Travel is 1.6x. |
| Is Tongcheng Travel profitable? | Yes, Tongcheng Travel is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Tongcheng Travel? | Tongcheng Travel's last 12 months EBITDA is $726M. |
| What is Tongcheng Travel's EBITDA margin? | Tongcheng Travel's last 12 months EBITDA margin is 25%. |
| What is the current EV/EBITDA multiple of Tongcheng Travel? | Current EBITDA multiple of Tongcheng Travel is 6.3x. |
| What is the current FCF of Tongcheng Travel? | Tongcheng Travel's last 12 months FCF is $456M. |
| What is Tongcheng Travel's FCF margin? | Tongcheng Travel's last 12 months FCF margin is 16%. |
| What is the current EV/FCF multiple of Tongcheng Travel? | Current FCF multiple of Tongcheng Travel is 10.0x. |
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