TCOM financial statements

The full income statement, balance sheet, and cash-flow statement for Trip.com Group Limited American Depositary Shares (TCOM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2017-12 67.6M2018-12 69.1M2019-12 74.1M2020-12 75.0M2021-12 641.3M2022-12 646.1M2023-12 644.1M2024-12 653.3M2025-12 649.6M+860.9% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	8.93B YoY+22.2%	7.30B YoY+16.5%	6.27B YoY+115.7%	2.91B YoY-7.5%	3.14B YoY+11.9%
	7.19B YoY+21.2%	5.93B YoY+15.8%	5.13B YoY+127.5%	2.25B YoY-6.9%	2.42B YoY+10.6%
Cost of revenue	1.73B YoY+26.7%	1.37B YoY+19.6%	1.14B YoY+74.9%	654M YoY-9.3%	721M YoY+16.7%
	4.93B YoY+23.7%	3.99B YoY+13.1%	3.53B YoY+57.7%	2.24B YoY-15.3%	2.64B YoY+9.8%
Research & development	2.16B YoY+20.2%	1.80B YoY+5.4%	1.71B YoY+41.2%	1.21B YoY-14.3%	1.41B YoY+20.1%
Selling, general & administrative	640M YoY+14.3%	560M YoY+6.3%	527M YoY+27.6%	413M YoY-10.0%	459M YoY-17.6%
General & administrative	640M YoY+14.3%	560M YoY+6.3%	527M YoY+27.6%	413M YoY-10.0%	459M YoY-17.6%
Selling & marketing	2.13B YoY+30.7%	1.63B YoY+25.8%	1.30B YoY+110.4%	616M YoY-20.2%	772M YoY+14.4%
Provision for credit losses	68.0M YoY+51.1%	45.0M YoY+309.1%	11.0M YoY-74.4%	43.0M YoY+95.5%	22.0M YoY-79.4%
Operating income	2.26B YoY+16.2%	1.94B YoY+21.8%	1.59B YoY+10533.3%	15.0M YoY+106.8%	-221M YoY-1.4%
Interest expense	121M YoY-49.2%	238M YoY-18.2%	291M YoY+32.9%	219M YoY-11.0%	246M YoY-6.5%
Interest & investment income	372M YoY+15.9%	321M YoY+9.2%	294M YoY-1.0%	297M YoY-11.3%	335M YoY+0.0%
Other non-operating income	3.05B YoY+903.0%	304M YoY+423.4%	-94.0M YoY-132.2%	292M YoY+403.4%	58.0M YoY+238.1%
Equity-method income	50.0M YoY-87.1%	387M YoY+156.3%	151M YoY+277.6%	-85.0M YoY-666.7%	15.0M YoY+105.8%
Pre-tax income	5.56B YoY+138.5%	2.33B YoY+54.9%	1.50B YoY+290.6%	385M YoY+620.3%	-74.0M YoY+60.6%
Income tax	832M YoY+133.1%	357M YoY+45.1%	246M YoY+148.5%	99.0M YoY+135.7%	42.0M YoY-22.2%
Net income	4.76B YoY+103.7%	2.34B YoY+67.4%	1.40B YoY+578.2%	206M YoY+339.5%	-86.0M YoY+82.7%
	658M YoY+0.6%	654M YoY+0.2%	653M YoY+0.7%	648M YoY+2.3%	634M YoY+5.5%
	698M YoY+1.4%	689M YoY+2.6%	671M YoY+2.1%	657M YoY+3.6%	634M YoY+5.5%
Dividends per share	$0.31	—	—	—	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	17.3B YoY+12.7%	15.4B YoY+22.9%	12.5B YoY+40.3%	8.91B YoY-14.1%	10.4B YoY+16.7%
Cash & equivalents	5.70B YoY-14.1%	6.64B YoY+13.3%	5.86B YoY+137.6%	2.46B YoY-20.7%	3.11B YoY+12.2%
Short-term investments	4.58B YoY+17.4%	3.90B YoY+56.0%	2.50B YoY-32.5%	3.70B YoY-20.2%	4.64B YoY+22.0%
Accounts receivable	2.18B YoY+27.7%	1.71B YoY+6.2%	1.61B YoY+102.1%	795M YoY+9.1%	729M YoY+15.5%
Prepaid expenses	3.43B YoY+44.7%	2.37B YoY+31.8%	1.80B YoY+21.8%	1.48B YoY+4.0%	1.42B YoY+17.8%
	38.2B YoY+15.1%	33.2B YoY+7.7%	30.9B YoY+11.1%	27.8B YoY-7.7%	30.1B YoY+4.9%
Property, plant & equipment	779M YoY+12.6%	692M YoY-4.4%	724M YoY-4.1%	755M YoY-13.0%	868M YoY-2.0%
Operating lease right-of-use	126M YoY+22.3%	103M YoY+14.4%	90.0M YoY-24.4%	119M YoY-2.5%	122M YoY-19.2%
Goodwill	8.90B YoY+6.7%	8.35B YoY-0.2%	8.36B YoY-2.8%	8.60B YoY-7.6%	9.31B YoY+2.4%
Intangible assets	1.84B YoY+5.1%	1.75B YoY-1.2%	1.77B YoY-4.2%	1.85B YoY-9.2%	2.03B YoY+0.1%
Long-term investments	8.78B YoY+35.7%	6.47B YoY-7.0%	6.95B YoY-4.5%	7.28B YoY+3.1%	7.05B YoY-4.0%
Deferred tax assets	394M YoY-11.7%	446M YoY+22.9%	363M YoY+89.1%	192M YoY-27.5%	265M YoY+23.8%
	11.2B YoY+10.2%	10.1B YoY-0.6%	10.2B YoY+14.9%	8.88B YoY-14.6%	10.4B YoY+16.2%
Accounts payable	2.74B YoY+20.6%	2.27B YoY-2.0%	2.32B YoY+111.3%	1.10B YoY+16.1%	945M YoY+36.8%
Accrued liabilities	37.7M YoY+42.0%	26.6M YoY+34.8%	19.7M YoY-50.4%	39.7M YoY-30.3%	57.0M YoY-9.1%
Short-term & current debt	2.77B YoY+3.9%	2.66B YoY-26.9%	3.64B YoY-23.1%	4.74B YoY-24.3%	6.26B YoY+21.3%
Current lease liability	37.7M YoY+42.0%	26.6M YoY+34.8%	19.7M YoY-50.4%	39.7M YoY-30.3%	57.0M YoY-9.1%
Other current liabilities	49.0M YoY-9.3%	54.0M YoY+25.6%	43.0M YoY+90.1%	22.6M	—
	13.6B YoY-0.2%	13.6B YoY+0.3%	13.5B YoY+18.7%	11.4B YoY-10.7%	12.8B YoY-2.7%
Long-term debt	1.63B YoY-40.8%	2.76B YoY+2.5%	2.69B YoY+40.8%	1.91B YoY+9.8%	1.74B YoY-50.0%
Non-current lease liability	84.0M YoY+9.1%	77.0M YoY+14.9%	67.0M YoY-13.0%	77.0M YoY+22.2%	63.0M YoY-33.7%
Operating lease liability (total)	121M YoY+17.3%	103M YoY+19.0%	86.9M YoY-25.8%	117M YoY-2.2%	120M YoY-23.9%
	24.4B YoY+25.7%	19.4B YoY+12.9%	17.2B YoY+5.7%	16.3B YoY-5.4%	17.2B YoY+11.9%
Common stock	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%
Additional paid-in capital	14.9B YoY+7.2%	13.9B YoY+1.0%	13.7B YoY-0.6%	13.8B YoY-6.3%	14.7B YoY+14.4%
Treasury stock	1.47B YoY+82.2%	808M YoY+53.9%	525M YoY+71.6%	306M YoY-7.6%	331M YoY+2.5%
Accumulated other comprehensive income	-381M YoY-93.4%	-197M YoY+41.7%	-338M YoY-32.0%	-256M YoY-1.6%	-252M YoY-2.0%
Non-controlling interest	236M YoY+84.4%	128M YoY+10.3%	116M YoY+8.4%	107M YoY-12.3%	122M YoY-34.4%
Total equity incl. non-controlling	24.7B YoY+26.1%	19.6B YoY+12.9%	17.3B YoY+5.7%	16.4B YoY-5.5%	17.3B YoY+11.4%
Total liabilities & equity	38.2B YoY+15.1%	33.2B YoY+7.7%	30.9B YoY+11.1%	27.8B YoY-7.7%	30.1B YoY+4.9%
	696M YoY+0.9%	689M YoY+2.2%	674M YoY+0.7%	669M	—
	650M YoY-0.6%	653M YoY+1.4%	644M YoY-0.3%	646M	—
	650M YoY-0.6%	653M YoY+1.4%	644M YoY-0.3%	646M YoY+0.7%	641M YoY+755.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.06B YoY-23.5%	2.69B YoY-13.1%	3.10B YoY+715.3%	380M YoY-2.1%	388M YoY+166.0%
Depreciation & amortization	93.0M YoY+3.3%	90.0M YoY+2.3%	88.0M YoY-4.3%	92.0M YoY-18.6%	113M YoY-6.6%
Share-based compensation	325M YoY+15.7%	281M YoY+8.9%	258M YoY+50.0%	172M YoY-34.8%	264M YoY-8.0%
Deferred income taxes	41.0M YoY+159.4%	-69.0M YoY+35.5%	-107M YoY-367.5%	40.0M YoY+175.5%	-53.0M YoY+29.3%
Change in receivables	344M YoY+119.1%	157M YoY-81.5%	849M YoY+724.3%	103M YoY+41.1%	73.0M YoY+114.9%
	-598M YoY+27.8%	-828M YoY-199.2%	835M YoY+409.1%	164M YoY+125.2%	-651M YoY-11.5%
Capital expenditure	114M YoY+40.7%	81.0M YoY-4.7%	85.0M YoY+18.1%	72.0M YoY-19.1%	89.0M YoY+9.9%
Free cash flow	1.95B YoY-25.5%	2.61B YoY-13.3%	3.01B YoY+878.2%	308M YoY+3.0%	299M YoY+144.7%
Acquisitions	108M YoY+164.7%	-167M	0.00 YoY-100.0%	1.00M YoY-85.7%	7.00M YoY-95.2%
Proceeds from sale of PP&E	1.00M	—	—	—	—
	-2.10B YoY-127.8%	-921M YoY-155.8%	-360M YoY+63.1%	-975M YoY-258.5%	615M YoY-33.4%
Long-term debt issued	3.00M YoY-50.0%	6.00M YoY-99.6%	1.68B YoY+18.0%	1.42B YoY+71000.0%	2.00M YoY-99.9%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Net short-term debt	—	—	—	-706M YoY-180.3%	879M YoY+42.7%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	629M YoY+111.1%	298M YoY+30.7%	228M	0.00	0.00
Dividends paid	204M	0.00	0.00	0.00	0.00
FX effect on cash	-27.0M YoY-187.1%	31.0M YoY+72.2%	18.0M YoY-53.8%	39.0M YoY+153.4%	-73.0M YoY+33.0%
Net change in cash	-664M YoY-168.2%	974M YoY-72.9%	3.59B YoY+1016.1%	-392M YoY-240.5%	279M YoY+177.9%
Interest paid	122M YoY-46.0%	226M YoY-15.0%	266M YoY+27.3%	209M YoY-11.1%	235M YoY-6.7%
Income taxes paid	799M YoY+115.9%	370M YoY+103.3%	182M YoY+167.6%	68.0M YoY-42.4%	118M YoY-37.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	46.7B YoY+4.1%	44.9B YoY+92.8%	23.3B YoY+5.5%	22.1B YoY+39.7%	15.8B YoY+524.5%
P/E	9.8× YoY-48.9%	19.2× YoY-83.0%	112.9×	—	—
P/S	5.2× YoY-14.8%	6.1× YoY-23.2%	8.0× YoY+14.0%	7.0× YoY+39.7%	5.0× YoY+458.0%
P/B	1.9× YoY-17.2%	2.3× YoY+61.6%	1.4× YoY+11.5%	1.3× YoY+39.7%	0.9× YoY+458.1%
P/FCF	24.0× YoY+39.8%	17.2× YoY-77.3%	75.5× YoY+2.4%	73.8× YoY+39.7%	52.8×
	10.2% YoY+95.6%	5.2% YoY+488.7%	0.89%	—	—
	4.2% YoY-28.5%	5.8% YoY+339.7%	1.3% YoY-2.3%	1.4% YoY-28.4%	1.9%
	0.44%	—	—	—	—
Source filing	20-F	20-F	20-F	20-F	20-F

About this data

Source: TCOM's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TCOM filings on SEC EDGAR → Not investment advice.