Trip.com GroupTCOM
About: 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 78% of sales from accommodation reservations and transportation ticketing in 2020. The rest of revenue comes from package tours and corporate travel. Before the pandemic in 2019, the company generated 25% of revenue from international business, which is important to its margin expansion. Most of sales come from its online platform, but the company also maintains offline call centers. 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.
Employees: 36,249
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
37% more first-time investments, than exits
New positions opened: 70 | Existing positions closed: 51
11% more capital invested
Capital invested by funds: $16.1B [Q3] → $17.8B (+$1.71B) [Q4]
3% more funds holding
Funds holding: 378 [Q3] → 390 (+12) [Q4]
1.63% less ownership
Funds ownership: 40.05% [Q3] → 38.41% (-1.63%) [Q4]
15% less call options, than puts
Call options by funds: $243M | Put options by funds: $285M
19% less repeat investments, than reductions
Existing positions increased: 125 | Existing positions reduced: 155
32% less funds holding in top 10
Funds holding in top 10: 28 [Q3] → 19 (-9) [Q4]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
JP Morgan Alex Yao 83% 1-year accuracy 5 / 6 met price target | 21%upside $75 | Overweight Maintained | 27 Feb 2025 |
Benchmark Fawne Jiang 65% 1-year accuracy 39 / 60 met price target | 29%upside $80 | Buy Reiterated | 25 Feb 2025 |
Citigroup Brian Gong 67% 1-year accuracy 4 / 6 met price target | 26%upside $78 | Buy Maintained | 3 Jan 2025 |
Financial journalist opinion
Based on 10 articles about TCOM published over the past 30 days









