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Trip.com Overview
About Trip.com
Trip.com is the largest online travel agent in China and is positioned to benefit from the country's rising demand for higher-margin outbound travel as passport penetration is only 12% in China. The company generated about 79% of sales from accommodation reservations and transportation ticketing in 2024. The rest of revenue comes from package tours and corporate travel. Before the pandemic in 2019, the company generated 25% of revenue from international travel, which is important to its margin expansion. Most of sales come from its domestic platform, but the company is expanding its overseas business. The competes in a crowded OTA industry in China, including Meituan, Alibaba-backed Fliggy, Tongcheng, and Qunar. The company was founded in 1999 and listed on the Nasdaq in December 2003.
Founded
1999
HQ
Employees
41.1K
Website
Financials (LTM)
EV
$27B
Trip.com Financials
Trip.com reported last 12-month revenue of $9B and EBITDA of $3B.
In the same LTM period, Trip.com generated $8B in gross profit, $3B in EBITDA, and $4B in net income.
Revenue (LTM)
Trip.com P&L
In the most recent fiscal year, Trip.com reported revenue of $8B and EBITDA of $3B.
Trip.com expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $9B | XXX | $8B | XXX | XXX | XXX |
| Gross Profit | $8B | XXX | $6B | XXX | XXX | XXX |
| Gross Margin | 81% | XXX | 81% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 29% | XXX | 37% | XXX | XXX | XXX |
| EBIT Margin | 29% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $4B | XXX | $2B | XXX | XXX | XXX |
| Net Margin | 48% | XXX | 32% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Trip.com Stock Performance
Trip.com has current market cap of $34B, and enterprise value of $27B.
Market Cap Evolution
Trip.com's stock price is $51.61.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $27B | $34B | 0.0% | XXX | XXX | XXX | $3.79 |
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Start Free TrialTrip.com Valuation Multiples
Trip.com trades at 2.9x EV/Revenue multiple, and 10.0x EV/EBITDA.
EV / Revenue (LTM)
Trip.com Financial Valuation Multiples
As of March 7, 2026, Trip.com has market cap of $34B and EV of $27B.
Equity research analysts estimate Trip.com's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Trip.com has a P/E ratio of 7.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $34B | XXX | $34B | XXX | XXX | XXX |
| EV (current) | $27B | XXX | $27B | XXX | XXX | XXX |
| EV/Revenue | 2.9x | XXX | 3.4x | XXX | XXX | XXX |
| EV/EBITDA | 10.0x | XXX | 9.3x | XXX | XXX | XXX |
| EV/EBIT | 9.9x | XXX | 12.3x | XXX | XXX | XXX |
| EV/Gross Profit | 3.5x | XXX | 4.2x | XXX | XXX | XXX |
| P/E | 7.6x | XXX | 13.6x | XXX | XXX | XXX |
| EV/FCF | 7.3x | XXX | 9.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Trip.com 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.
Trip.com Margins & Growth Rates
Trip.com's revenue in the last 12 month grew by 13%.
Trip.com's revenue per employee in the last FY averaged $0.2M.
Trip.com's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Trip.com'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).
Trip.com Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 13% | XXX | 18% | XXX | XXX | XXX |
| EBITDA Margin | 29% | XXX | 37% | XXX | XXX | XXX |
| EBITDA Growth | 11% | XXX | (9%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 60% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 24% | XXX | 22% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | 8% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 24% | XXX | 25% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 53% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Trip.com Public Comps
See public comps and valuation multiples for other Online Travel and Consumer Marketplaces comps.
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Trip.com M&A Activity
Trip.com acquired XXX companies to date.
Last acquisition by Trip.com was on XXXXXXXX, XXXXX. Trip.com acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Trip.com
| 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 TrialTrip.com Investment Activity
Trip.com invested in XXX companies to date.
Trip.com made its latest investment on XXXXXXXX, XXXXX. Trip.com invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Trip.com
| 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 Trip.com
| When was Trip.com founded? | Trip.com was founded in 1999. |
| Where is Trip.com headquartered? | Trip.com is headquartered in China. |
| How many employees does Trip.com have? | As of today, Trip.com has over 41K employees. |
| Who is the CEO of Trip.com? | Trip.com's CEO is Jie Jane Sun. |
| Is Trip.com publicly listed? | Yes, Trip.com is a public company listed on Nasdaq. |
| What is the stock symbol of Trip.com? | Trip.com trades under TCOM ticker. |
| When did Trip.com go public? | Trip.com went public in 2003. |
| Who are competitors of Trip.com? | Trip.com main competitors are Kuaishou, Copart, eBay, Naspers. |
| What is the current market cap of Trip.com? | Trip.com's current market cap is $34B. |
| What is the current revenue of Trip.com? | Trip.com's last 12 months revenue is $9B. |
| What is the current revenue growth of Trip.com? | Trip.com revenue growth (NTM/LTM) is 13%. |
| What is the current EV/Revenue multiple of Trip.com? | Current revenue multiple of Trip.com is 2.9x. |
| Is Trip.com profitable? | Yes, Trip.com is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Trip.com? | Trip.com's last 12 months EBITDA is $3B. |
| What is Trip.com's EBITDA margin? | Trip.com's last 12 months EBITDA margin is 29%. |
| What is the current EV/EBITDA multiple of Trip.com? | Current EBITDA multiple of Trip.com is 10.0x. |
| What is the current FCF of Trip.com? | Trip.com's last 12 months FCF is $4B. |
| What is Trip.com's FCF margin? | Trip.com's last 12 months FCF margin is 39%. |
| What is the current EV/FCF multiple of Trip.com? | Current FCF multiple of Trip.com is 7.3x. |
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