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: 41,073
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
39% more first-time investments, than exits
New positions opened: 71 | Existing positions closed: 51
12% more capital invested
Capital invested by funds: $15.9B [Q3] → $17.7B (+$1.83B) [Q4]
4% more funds holding
Funds holding: 377 [Q3] → 391 (+14) [Q4]
1.31% less ownership
Funds ownership: 39.64% [Q3] → 38.33% (-1.31%) [Q4]
15% less call options, than puts
Call options by funds: $243M | Put options by funds: $285M
20% less repeat investments, than reductions
Existing positions increased: 125 | Existing positions reduced: 156
32% less funds holding in top 10
Funds holding in top 10: 28 [Q3] → 19 (-9) [Q4]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
JP Morgan Alex Yao 50% 1-year accuracy 4 / 8 met price target | 37%upside $75 | Overweight Maintained | 27 Feb 2025 |
Benchmark Fawne Jiang 48% 1-year accuracy 27 / 56 met price target | 46%upside $80 | Buy Reiterated | 25 Feb 2025 |
Financial journalist opinion
Based on 5 articles about TCOM published over the past 30 days
