Company Valuation: Trip.com Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 99,699 152,265 164,071 330,388 331,757 166,717 - -
Change - 52.72% 7.75% 101.37% 0.41% -49.75% - -
Enterprise Value (EV) 1 129,462 179,629 167,435 290,387 316,071 120,050 110,904 91,146
Change - 38.75% -6.79% 73.43% 8.84% -62.02% -7.62% -17.82%
P/E -180x 111x 17.3x 20.2x 10.6x 24.5x 11.5x 10.2x
PBR 0.91x 1.37x 1.35x 2.31x 1.94x 0.95x 0.86x 0.77x
PEG - -0x 0x 0.3x 0.1x -0.3x 0x 0.8x
Capitalization / Revenue 4.98x 7.6x 3.69x 6.2x 5.32x 2.5x 2.3x 2.08x
EV / Revenue 6.47x 8.96x 3.76x 5.45x 5.06x 1.8x 1.53x 1.14x
EV / EBITDA 100x 83.5x 12x 17x 16.7x 7.49x 5.57x 4.1x
EV / EBIT -91.8x 2,041x 14.8x 20.5x 20x 10.2x 6.41x 4.69x
EV / FCF 68x 83.8x 7.82x 15.3x 23.3x 8.69x 6.94x 4.84x
FCF Yield 1.47% 1.19% 12.8% 6.55% 4.3% 11.5% 14.4% 20.7%
Dividend per Share 2 - - - 2.175 2.051 2.166 2.226 1.805
Rate of return - - - 0.43% 0.41% 0.82% 0.84% 0.68%
EPS 2 -0.87 2.14 14.78 24.78 47.67 10.8 22.93 25.94
Distribution rate - - - 8.78% 4.3% 20.1% 9.71% 6.96%
Net sales 1 20,023 20,039 44,510 53,294 62,409 66,591 72,620 79,965
EBITDA 1 1,291 2,151 13,975 17,070 18,888 16,032 19,901 22,204
EBIT 1 -1,411 88 11,324 14,177 15,773 11,773 17,292 19,439
Net income 1 -550 1,403 9,918 17,067 33,294 7,022 15,794 17,562
Net Debt 1 29,763 27,364 3,364 -40,001 -15,686 -46,667 -55,813 -75,572
Reference price 2 156.40 237.26 255.34 501.16 502.97 264.75 264.75 264.75
Nbr of stocks (in thousands) 637,456 641,754 642,550 659,252 659,600 629,705 - -
Announcement Date 3/23/22 3/6/23 2/21/24 2/24/25 2/25/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.57x4.34x11.69x1.03% 123B
25.91x5.32x18.75x-.--% 37.26B
15.53x2.02x7.91x0.66% 34.68B
39.36x6.6x19.83x0.53% 32.89B
24.79x1.83x7.6x0.81% 25.19B
40.97x5.91x25.42x-.--% 22.56B
25.38x3.06x10.85x-.--% 9.05B
26.95x2.74x10.18x5.89% 5.38B
Average 26.81x 3.98x 14.03x 1.12% 36.23B
Weighted average by Cap. 22.89x 4.28x 13.73x 0.76%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Trip.com Group Limited

Historical PBR trend

Valuation ratios - PBR - Trip.com Group Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Trip.com Group Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Trip.com Group Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Trip.com Group Limited
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