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 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.
Employees: 41,073
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
26% more funds holding in top 10
Funds holding in top 10: 19 [Q4 2024] → 24 (+5) [Q1 2025]
22% more first-time investments, than exits
New positions opened: 60 | Existing positions closed: 49
1% more funds holding
Funds holding: 392 [Q4 2024] → 396 (+4) [Q1 2025]
0.92% more ownership
Funds ownership: 38.34% [Q4 2024] → 39.26% (+0.92%) [Q1 2025]
9% less capital invested
Capital invested by funds: $17.7B [Q4 2024] → $16.1B (-$1.64B) [Q1 2025]
12% less repeat investments, than reductions
Existing positions increased: 136 | Existing positions reduced: 155
22% less call options, than puts
Call options by funds: $145M | Put options by funds: $185M
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
B of A Securities Eddie Leung | 13%upside $70 | Buy Maintained | 21 May 2025 |
TD Securities Kevin Kopelman | 18%upside $73 | Buy Maintained | 20 May 2025 |
Benchmark Fawne Jiang | 29%upside $80 | Buy Reiterated | 20 May 2025 |
Financial journalist opinion
Based on 6 articles about TCOM published over the past 30 days
