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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.
1999
41.1K+
LTM Revenue $7.8B
LTM EBITDA $2.4B
$36.3B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Trip.com Group has a last 12-month revenue (LTM) of $7.8B and a last 12-month EBITDA of $2.4B.
In the most recent fiscal year, Trip.com Group achieved revenue of $6.8B and an EBITDA of $2.5B.
Trip.com Group expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Trip.com Group valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $7.8B | XXX | $6.8B | XXX | XXX | XXX |
| Gross Profit | $6.3B | XXX | $5.5B | XXX | XXX | XXX |
| Gross Margin | 81% | XXX | 81% | XXX | XXX | XXX |
| EBITDA | $2.4B | XXX | $2.5B | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 37% | XXX | XXX | XXX |
| EBIT | $2.3B | XXX | $1.9B | XXX | XXX | XXX |
| EBIT Margin | 30% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $2.3B | XXX | $2.2B | XXX | XXX | XXX |
| Net Margin | 30% | XXX | 32% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Trip.com Group's stock price is HKD 494 (or $63).
Trip.com Group has current market cap of HKD 323B (or $41.2B), and EV of HKD 284B (or $36.3B).
See Trip.com Group trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $36.3B | $41.2B | XXX | XXX | XXX | XXX | $3.56 |
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Start Free TrialAs of May 30, 2025, Trip.com Group has market cap of $41.2B and EV of $36.3B.
Trip.com Group's trades at 5.3x EV/Revenue multiple, and 14.3x EV/EBITDA.
Equity research analysts estimate Trip.com Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Trip.com Group has a P/E ratio of 17.8x.
See valuation multiples for Trip.com Group and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $41.2B | XXX | $41.2B | XXX | XXX | XXX |
| EV (current) | $36.3B | XXX | $36.3B | XXX | XXX | XXX |
| EV/Revenue | 4.7x | XXX | 5.3x | XXX | XXX | XXX |
| EV/EBITDA | 15.3x | XXX | 14.3x | XXX | XXX | XXX |
| EV/EBIT | 15.6x | XXX | 19.0x | XXX | XXX | XXX |
| EV/Gross Profit | 5.8x | XXX | n/a | XXX | XXX | XXX |
| P/E | 17.8x | XXX | 18.9x | XXX | XXX | XXX |
| EV/FCF | 16.8x | XXX | 14.9x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialTrip.com Group's last 12 month revenue growth is 15%
Trip.com Group's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Trip.com Group's rule of 40 is 46% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Trip.com Group's rule of X is 69% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Trip.com Group and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 15% | XXX | 19% | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 37% | XXX | XXX | XXX |
| EBITDA Growth | 12% | XXX | 19% | XXX | XXX | XXX |
| Rule of 40 | 46% | XXX | 52% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 69% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 22% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 25% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 53% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Corporate Travel Management | XXX | XXX | XXX | XXX | XXX | XXX |
| Flight Centre | XXX | XXX | XXX | XXX | XXX | XXX |
| Helloworld Travel | XXX | XXX | XXX | XXX | XXX | XXX |
| Web Travel Group | XXX | XXX | XXX | XXX | XXX | XXX |
| EaseMyTrip | 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.
Trip.com Group acquired XXX companies to date.
Last acquisition by Trip.com Group was XXXXXXXX, XXXXX XXXXX XXXXXX . Trip.com Group acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Trip.com Group founded? | Trip.com Group was founded in 1999. |
| Where is Trip.com Group headquartered? | Trip.com Group is headquartered in Hong Kong. |
| How many employees does Trip.com Group have? | As of today, Trip.com Group has 41.1K+ employees. |
| Who is the CEO of Trip.com Group? | Trip.com Group's CEO is Ms. Jie Jane Sun. |
| Is Trip.com Group publicy listed? | Yes, Trip.com Group is a public company listed on HKG. |
| What is the stock symbol of Trip.com Group? | Trip.com Group trades under 09961 ticker. |
| When did Trip.com Group go public? | Trip.com Group went public in 2021. |
| Who are competitors of Trip.com Group? | Similar companies to Trip.com Group include e.g. Corporate Travel Management, Flight Centre, Helloworld Travel, Web Travel Group. |
| What is the current market cap of Trip.com Group? | Trip.com Group's current market cap is $41.2B |
| What is the current revenue of Trip.com Group? | Trip.com Group's last 12 months revenue is $7.8B. |
| What is the current revenue growth of Trip.com Group? | Trip.com Group revenue growth (NTM/LTM) is 15%. |
| What is the current EV/Revenue multiple of Trip.com Group? | Current revenue multiple of Trip.com Group is 4.7x. |
| Is Trip.com Group profitable? | Yes, Trip.com Group is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Trip.com Group? | Trip.com Group's last 12 months EBITDA is $2.4B. |
| What is Trip.com Group's EBITDA margin? | Trip.com Group's last 12 months EBITDA margin is 31%. |
| What is the current EV/EBITDA multiple of Trip.com Group? | Current EBITDA multiple of Trip.com Group is 15.3x. |
| What is the current FCF of Trip.com Group? | Trip.com Group's last 12 months FCF is $2.2B. |
| What is Trip.com Group's FCF margin? | Trip.com Group's last 12 months FCF margin is 28%. |
| What is the current EV/FCF multiple of Trip.com Group? | Current FCF multiple of Trip.com Group is 16.8x. |
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