TRIP.COM(TCOM)

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Trip.com Group to Report Q1 Earnings: What's in Store for the Stock?
ZACKS· 2025-05-16 13:22
Trip.com Group Limited (TCOM) is scheduled to report first-quarter 2025 results on May 19, after market close. In the last reported quarter, TCOM’s earnings beat the Zacks Consensus Estimate by 15.4%.The company’s earnings beat the consensus mark in the last four quarters, the average being 30.4%.TCOM’s Q1 EstimatesThe Zacks Consensus Estimate for earnings is pegged at 86 cents per share, indicating a surge of 3.6% year over year. In the past 60 days, the estimate has remained stable. (Find the latest earni ...
Trip.com (TCOM) Advances While Market Declines: Some Information for Investors
ZACKS· 2025-05-06 23:00
Company Performance - Trip.com (TCOM) closed at $61.22, reflecting a +1.21% change from the previous day, outperforming the S&P 500, which fell by 0.77% [1] - Over the last month, Trip.com's shares increased by 12.96%, while the Consumer Discretionary sector gained 14.18% and the S&P 500 gained 11.54% [1] Earnings Projections - The upcoming EPS for Trip.com is projected at $0.86, indicating a 3.61% increase year-over-year [2] - Revenue is expected to reach $1.91 billion, representing a 15.93% increase compared to the same quarter last year [2] Fiscal Year Estimates - For the entire fiscal year, earnings are estimated at $3.44 per share, a decrease of 4.18% from the previous year, while revenue is projected at $8.45 billion, an increase of 14.02% [3] - Recent changes in analyst estimates are seen as indicators of the company's business outlook [3] Valuation Metrics - Trip.com has a Forward P/E ratio of 17.57, which is lower than the industry average of 18.53, indicating a discount [6] - The company has a PEG ratio of 1.08, compared to the industry average of 1.42, suggesting favorable valuation relative to growth [7] Industry Context - The Leisure and Recreation Services industry, part of the Consumer Discretionary sector, has a Zacks Industry Rank of 182, placing it in the bottom 27% of over 250 industries [8] - Stronger industry rankings correlate with better stock performance, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [8]
Trip.com (TCOM) Stock Dips While Market Gains: Key Facts
ZACKS· 2025-04-24 23:00
Company Performance - Trip.com closed at $57.62, reflecting a -1% change from the previous trading session, underperforming compared to the S&P 500's gain of 2.03% [1] - Over the last month, Trip.com's shares decreased by 7.78%, while the Consumer Discretionary sector and the S&P 500 saw losses of 4.94% and 5.07%, respectively [1] Earnings Forecast - The upcoming earnings report is expected to show an EPS of $0.86, representing a 3.61% increase from the same quarter last year [2] - Revenue is projected at $1.91 billion, indicating a 15.93% growth compared to the previous year [2] Fiscal Year Estimates - For the entire fiscal year, earnings are estimated at $3.44 per share, a decrease of 4.18% from the prior year, while revenue is expected to reach $8.45 billion, an increase of 14.02% [3] - Recent changes in analyst estimates suggest a positive outlook for the company's business and profitability [3] Valuation Metrics - Trip.com has a Forward P/E ratio of 16.9, which is slightly lower than the industry average of 16.98 [6] - The company also has a PEG ratio of 1.04, compared to the industry average PEG ratio of 1.17 [7] Industry Context - The Leisure and Recreation Services industry, part of the Consumer Discretionary sector, holds a Zacks Industry Rank of 139, placing it in the bottom 44% of over 250 industries [8] - Historically, the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]
TRIP.COM(TCOM) - 2024 Q4 - Annual Report
2025-04-11 11:07
Financial Performance - For Q4 2024, Trip.com Group reported net revenue of RMB12.7 billion (US$1.7 billion), a 23% increase year-over-year, driven by stronger travel demand [3]. - For the full year 2024, net revenue reached RMB53.3 billion (US$7.3 billion), representing a 20% increase from 2023 [4]. - Net income for Q4 2024 was RMB2.2 billion (US$300 million), compared to RMB1.3 billion for the same period in 2023 [22]. - Adjusted EBITDA for Q4 2024 was RMB3.0 billion (US$408 million), an improvement from RMB2.9 billion for the same period last year [5]. - Accommodation reservation revenue for Q4 2024 was RMB5.2 billion (US$709 million), a 33% increase from the same period in 2023 [6]. - Transportation ticketing revenue for Q4 2024 was RMB4.8 billion (US$655 million), a 16% increase year-over-year [8]. - Packaged-tour revenue for Q4 2024 was RMB870 million (US$119 million), a 24% increase from the same period in 2023 [10]. - Total revenue for the year ended December 31, 2024, was RMB 53,377 million (USD 7,313 million), representing an increase from RMB 44,562 million in 2023 [42]. - Net income attributable to Trip.com Group Limited for the year ended December 31, 2024, was RMB 17,067 million (USD 2,338 million), up from RMB 9,918 million in 2023, reflecting a growth of 72.5% [42]. - The company reported a gross profit of RMB 43,304 million (USD 5,934 million) for the year ended December 31, 2024, compared to RMB 36,389 million in 2023, indicating a year-over-year increase of 18.9% [42]. - Adjusted EBITDA for the year ended December 31, 2024, reached RMB 17,070 million, reflecting a margin of 32% [44]. - The total net income attributable to Trip.com Group Limited for the year ended December 31, 2024, was RMB 17,067 million, an increase from RMB 9,918 million in the previous year [44]. Assets and Liabilities - As of December 31, 2024, the balance of cash and cash equivalents was RMB90.0 billion (US$12.3 billion) [28]. - Total current assets increased to RMB 112,120 million (USD 15,360 million) as of December 31, 2024, from RMB 88,732 million in 2023, marking a growth of 26.4% [40]. - Cash, cash equivalents, and restricted cash rose to RMB 51,093 million (USD 7,000 million) by December 31, 2024, compared to RMB 43,983 million in 2023, an increase of 16.0% [40]. - The company’s total assets reached RMB 242,581 million (USD 33,233 million) as of December 31, 2024, up from RMB 219,137 million in 2023, reflecting an increase of 10.7% [40]. - The company’s total liabilities increased to RMB 99,099 million (USD 13,576 million) as of December 31, 2024, from RMB 96,131 million in 2023, a growth of 3.1% [40]. - Trip.com Group Limited's shareholders' equity rose to RMB 142,739 million (USD 19,555 million) as of December 31, 2024, compared to RMB 123,006 million in 2023, indicating an increase of 16.1% [40]. Shareholder Returns and Future Plans - The company plans to undertake a share repurchase program of up to US$400 million and an ordinary cash dividend of approximately US$200 million for the financial year 2024 [29]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [44]. Earnings and Expenses - Operating expenses for the year ended December 31, 2024, totaled RMB 29,127 million (USD 3,991 million), compared to RMB 25,065 million in 2023, representing a rise of 16.3% [42]. - Earnings per ordinary share (diluted) for the year ended December 31, 2024, was USD 3.39, compared to USD 2.39 in 2023, an increase of 41.8% [42]. - Interest income decreased to RMB 517 million for the year ended December 31, 2024, down from RMB 593 million in the previous quarter [44]. Quarterly Performance - Net income for the three months ended December 31, 2023, was RMB 1,342 million, a significant increase from RMB 1,297 million in the previous quarter [44]. - Non-GAAP net income attributable to Trip.com Group Limited for the three months ended December 31, 2024, was RMB 3,038 million, up from RMB 2,675 million in the previous quarter [44]. - The company reported a diluted non-GAAP income per share of RMB 4.35 for the three months ended December 31, 2024, compared to RMB 4.00 in the previous quarter [44]. - The adjusted EBITDA margin for the three months ended December 31, 2023, was 28%, indicating a decrease from 36% in the previous quarter [44]. - The company’s income from operations for the year ended December 31, 2024, was RMB 14,177 million, compared to RMB 11,324 million in the previous year [44]. - The company’s equity in income of affiliates for the three months ended December 31, 2024, was RMB (359) million, compared to RMB (351) million in the previous quarter [44].
Trip.com Group Filed 2024 Annual Report on Form 20-F
Prnewswire· 2025-04-11 10:33
Core Insights - Trip.com Group Limited has filed its annual report on Form 20-F, which includes audited financial statements for the three years ending December 31, 2024, with the Securities and Exchange Commission on April 11, 2025 [1] - The annual report is accessible on the Company's investor relations website, and holders of the Company's securities can request a free copy [1] Company Overview - Trip.com Group Limited is a leading global one-stop travel platform that offers a comprehensive suite of travel products and services, catering primarily to travelers in Asia and increasingly worldwide [2] - The Company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner, and was founded in 1999, listed on Nasdaq in 2003, and on HKEX in 2021 [2] - The mission of the Company is "to pursue the perfect trip for a better world" [2]
TRIP.COM(TCOM) - 2024 Q4 - Annual Report
2025-04-11 10:11
Financial Performance - Total revenues increased by 122% from RMB20.0 billion in 2022 to RMB44.6 billion in 2023, and further by 20% to RMB53.4 billion (US$7.3 billion) in 2024[31] - Net income rose from RMB1.4 billion in 2022 to RMB10.0 billion in 2023, and reached RMB17.2 billion (US$2.4 billion) in 2024[31] - Net income for 2023 reached RMB 10,002 million, a significant increase from a net loss of RMB 3,269 million in 2020, reflecting a turnaround in financial performance[42] - The company reported a projected net income of RMB 17,227 million for 2024, indicating a year-over-year growth of approximately 72%[42] - Cash and cash equivalents increased to RMB 41,592 million in 2023, up from RMB 17,000 million in 2022, showcasing improved liquidity[42] - Total assets grew to RMB 219,137 million in 2023, compared to RMB 191,691 million in 2022, representing an increase of about 14.3%[42] - Total shareholders' equity rose to RMB 123,006 million in 2023, compared to RMB 113,019 million in 2022, marking an increase of approximately 8.8%[43] - The company anticipates a diluted earnings per share of RMB 14.78 for 2023, a significant recovery from a loss of RMB 5.40 per share in 2020[42] Revenue Breakdown - Accommodation reservation revenue was RMB7.4 billion, RMB17.3 billion, and RMB21.6 billion (US$3.0 billion) for the years 2022, 2023, and 2024, representing 37%, 39%, and 40% of total revenues respectively[32] - Transportation ticketing revenue was RMB8.3 billion, RMB18.4 billion, and RMB20.3 billion (US$2.8 billion) for the years 2022, 2023, and 2024, accounting for 41%, 41%, and 38% of total revenues respectively[34] - Packaged-tour revenue increased from RMB797 million in 2022 to RMB4.3 billion (US$594 million) in 2024[36] - Corporate travel revenue grew from RMB1.1 billion in 2022 to RMB2.5 billion (US$343 million) in 2024[37] - Other businesses, including online advertising and financial services, generated revenues of RMB2.5 billion, RMB3.5 billion, and RMB4.6 billion (US$634 million) for the years 2022, 2023, and 2024 respectively[38] Market and Growth Opportunities - The Asia-Pacific region is identified as a key growth area, benefiting from a shift from offline to online and mobile services[30] - The company is exploring market expansion opportunities, particularly in the travel and online services sectors, to enhance growth prospects[49] - The company is expanding its global presence through owned brands, direct investments, and strategic partnerships, focusing on enhancing content capabilities and user engagement[79] Operational Efficiency and Investments - The platform provided approximately 1.5 million global accommodation listings and offered flights from over 640 airlines as of December 31, 2024[28] - Over 90% of total transaction orders were executed through mobile channels for the year ended December 31, 2024[25] - The company plans to invest RMB 870 million in product development for 2023, up from RMB 567 million in 2022, reflecting a focus on innovation[43] - For the year ended December 31, 2024, the company invested RMB 13.1 billion (US$1.8 billion) in product development[78] Risks and Challenges - The company faces significant risks from global economic conditions, including potential adverse effects from geopolitical tensions and inflation[80] - General declines or disruptions in the travel industry, such as pandemics or geopolitical unrest, could materially affect the company's business and financial performance[81] - The company experienced a significant decline in travel demand during the COVID-19 pandemic, leading to substantial user cancellations and refund requests[86] - The company has incurred substantial indebtedness and may face challenges in generating sufficient cash to meet its debt obligations[73] - The company is exposed to risks associated with international operations, including compliance and reputational risks, which could increase costs and divert management attention[121] Regulatory Environment - The PCAOB has regained the ability to inspect registered public accounting firms in mainland China and Hong Kong, affecting the company's compliance status under the HFCAA[58] - The company is deemed an "Existing Issuer" under the Overseas Offering and Listing Measures and is not required to complete filing procedures for historical securities offerings[62] - The company has completed foreign debt registrations with the NDRC for all debt offerings subject to such requirements[63] - The company’s operations in China are governed by PRC laws and regulations, with all requisite permissions obtained for its core business activities[60] - The company may be required to obtain additional approvals in the future due to uncertainties in PRC laws and regulations[60] Shareholder and Equity Considerations - The weighted average ordinary shares outstanding increased to 652,859,211 in 2023 from 648,380,590 in 2022, indicating a slight dilution in shares[42] - The company may require additional capital due to changed business conditions or future developments, which could lead to dilution for shareholders[156] Legal and Compliance Issues - The company is subject to various laws across multiple jurisdictions, which may pose operational risks[74] - The company is subject to payment processing risks, including potential increases in fees and changes in regulations that could adversely impact revenues and operating expenses[128] - The company must comply with evolving privacy and data protection laws, including the General Data Protection Regulation in the EU, which imposes significant obligations and potential penalties[146] Strategic Acquisitions and Competition - Strategic acquisitions in the travel industry are planned, but they pose risks such as potential dilution of equity and challenges in integration, which could adversely affect business operations[94] - The company faces competition from both existing travel agencies and new entrants, which may impact market share and profitability if not managed effectively[105] Financial Health and Asset Management - The company recorded a significant amount of goodwill and indefinite lived intangible assets from strategic acquisitions, which may be subject to impairment charges[73] - As of December 31, 2024, the company's goodwill was recorded at RMB60.9 billion (US$8.3 billion), with no impairment charges recognized for 2022, 2023, and 2024 due to the absence of impairment indicators[103] - The company has limited experience in international markets, which may affect its ability to expand globally[164] Tax and Financial Regulations - The company benefits from preferential tax rates for certain subsidiaries recognized as "high and new technology enterprises," but these qualifications must be renewed every three years[132] - Dividends from foreign-invested enterprises to offshore holding companies are subject to a 10% withholding tax unless a tax treaty provides for a different rate[218] Inventory and Demand Management - The company faces inventory risk during peak holiday seasons due to the need to predict demand for hotel rooms and transportation tickets accurately[131] - The company may be adversely affected if it fails to predict the amount of inventory needed during peak seasons, leading to potential losses[131]
Is Trip.com (TCOM) a Buy as Wall Street Analysts Look Optimistic?
ZACKS· 2025-03-26 14:30
Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Trip.com (TCOM), and highlights the potential misalignment of interests between brokerage analysts and retail investors [1][4][9]. Brokerage Recommendations - Trip.com has an average brokerage recommendation (ABR) of 1.11, indicating a consensus between Strong Buy and Buy, based on 19 brokerage firms' recommendations, with 18 being Strong Buy, representing 94.7% of all recommendations [2][4]. - Despite the favorable ABR, relying solely on this information for investment decisions may not be advisable, as studies suggest brokerage recommendations often fail to guide investors effectively [4][9]. Analyst Bias - Brokerage analysts tend to exhibit a strong positive bias in their ratings due to vested interests, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [5][9]. - This bias can mislead investors regarding the actual price direction of stocks, suggesting that brokerage recommendations should be used to validate independent research rather than as standalone indicators [6][9]. Zacks Rank Comparison - Zacks Rank, a proprietary stock rating tool, categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell) and is based on earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [7][10]. - The Zacks Rank is distinct from ABR, as it is a quantitative model reflecting timely earnings estimates, while ABR may not always be up-to-date [8][11]. Earnings Estimate Trends - For Trip.com, the Zacks Consensus Estimate for the current year has declined by 8.4% over the past month to $3.44, indicating growing pessimism among analysts regarding the company's earnings prospects [12]. - This decline in earnings estimates has contributed to a Zacks Rank of 4 (Sell) for Trip.com, suggesting caution despite the positive ABR [13].
Brokers Suggest Investing in Trip.com (TCOM): Read This Before Placing a Bet
ZACKS· 2025-03-07 15:30
Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Trip.com (TCOM), and highlights the disparity between brokerage ratings and actual stock performance [1][4]. Brokerage Recommendations - Trip.com has an average brokerage recommendation (ABR) of 1.11, indicating a consensus between Strong Buy and Buy, based on recommendations from 19 brokerage firms [2]. - Out of the 19 recommendations, 18 are classified as Strong Buy, representing 94.7% of all recommendations [2]. Limitations of Brokerage Recommendations - Solely relying on brokerage recommendations for investment decisions may not be advisable, as studies suggest they often fail to guide investors effectively towards stocks with high price appreciation potential [4]. - Brokerage analysts tend to exhibit a strong positive bias in their ratings due to vested interests, with five "Strong Buy" recommendations for every "Strong Sell" [5][9]. Zacks Rank Comparison - Zacks Rank, a proprietary stock rating tool, categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell) and is based on earnings estimate revisions, making it a more reliable indicator of near-term stock performance [7][10]. - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in earnings estimates and business trends [11]. Current Earnings Estimates for Trip.com - The Zacks Consensus Estimate for Trip.com has declined by 6.5% over the past month to $3.74, indicating growing pessimism among analysts regarding the company's earnings prospects [12]. - This decline in earnings estimates has resulted in a Zacks Rank of 4 (Sell) for Trip.com, suggesting caution despite the positive ABR [13].
携程:国内稳盘海外破局,静待国际业务利润拐点-20250227
第一上海证券· 2025-02-27 11:05
Investment Rating - The report assigns a "Hold" rating for the company with a target price of $65.00, representing a potential upside of 13.4% from the current price of $57.30 [4][5]. Core Insights - The company is expected to achieve significant revenue growth, with projected revenues of RMB 61.1 billion in 2025, reflecting a 14.5% increase from 2024 [3][5]. - Non-GAAP net profit is forecasted to reach RMB 19.0 billion in 2025, showing a modest growth of 5.4% compared to 2024 [3][5]. - The company is experiencing robust domestic travel demand while also seeing a strong recovery in international travel, with outbound travel expected to grow significantly due to increased flight availability and relaxed visa processes [5][6]. - The report highlights the potential for inbound tourism growth, particularly from countries with visa-free access to China, with a projected booking increase of over 100% year-on-year [5][6]. Financial Summary - For the fiscal year ending December 31, 2023, the company reported revenues of RMB 44.5 billion, a 122.2% increase year-on-year, and a non-GAAP net profit of RMB 9.5 billion, up 635.5% [3][6]. - The company’s gross margin is expected to stabilize around 81% in the coming years, with operating profit margins projected to remain around 24% [6][9]. - The balance sheet shows total assets of RMB 219.1 billion in 2023, with total liabilities of RMB 96.1 billion, indicating a healthy equity position [7][10]. Business Segments Performance - The company’s revenue from accommodation bookings, transportation ticketing, and vacation packages is expected to grow by 25.2%, 10.1%, and 38.1% respectively in 2024 [5][6]. - The international business segment, particularly Trip.com, is anticipated to contribute significantly to revenue, with a projected 70% year-on-year growth in Q4 2024 [5][6]. Market Outlook - The report emphasizes the strategic positioning of the company in emerging markets, aiming for market share growth despite potential short-term profit pressures due to international expansion [5][6]. - The company is expected to benefit from macroeconomic factors such as increased consumer spending in the tourism sector, supported by government initiatives like consumption vouchers [5][6].
携程:入市点可能出现在市场调整之后。-20250226
招银国际· 2025-02-26 01:23
Investment Rating - The report maintains a "Buy" rating for Trip.com Group (TCOM) with a target price adjusted to $70.00, down from $71.00, reflecting a 20.4x PE for 2025E [1][4][12]. Core Insights - Trip.com reported total revenue of RMB 12.8 billion for Q4 2024, a 23% year-over-year increase, exceeding Bloomberg consensus by 4%. The non-GAAP operating profit was RMB 2.8 billion, benefiting from optimized operating expenses [1]. - For 2025, revenue is expected to grow by 20% to RMB 53.4 billion, with non-GAAP operating profit and net profit projected to increase by 23% and 38% respectively [1]. - The report indicates that while incremental investments may pressure short-term profits, they are expected to support long-term growth [3]. Summary by Sections Financial Performance - In Q4 2024, Trip.com achieved a non-GAAP operating profit margin of 21.6%, slightly above expectations, with operating expenses at 57.6% of total revenue, better than the anticipated 59.0% [3]. - The company’s revenue for FY 2024 is projected at RMB 53.4 billion, with a year-over-year growth of 19.8% [9]. Revenue Forecasts - The revenue forecast for Q1 2025 is estimated at RMB 13.8 billion, aligning with consensus expectations, driven by a 15% increase in domestic hotel bookings [2]. - The report anticipates a 60% year-over-year growth in Trip.com’s outbound tourism revenue for 2025, supported by incremental investments [2]. Valuation Metrics - The adjusted target price of $70.00 reflects a 22.2% upside from the current price of $57.30 [4]. - The report projects a non-GAAP net profit margin of 28.6% for 2025, down from previous estimates due to adjustments in outbound tourism revenue forecasts [12]. Investment Strategy - The report suggests that the recent stock price decline of 11% has already priced in concerns regarding potential profit margin compression due to increased investments for international expansion [1]. - The analysts express optimism about Trip.com’s ability to deliver positive financial results in upcoming quarters, driven by enhanced operational efficiency [1].