How Trip.com Group ADR makes money

Period

FY2025

How does Trip.com Group ADR make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Trip.com Group Limited American Depositary Shares · FY2025 · year ended 2025-12-31

Revenue$8.9BGross profit$7.2B · 81%Cost of revenue$1.7B · 19%Operating income$2.3B · 25%Operating expenses$4.9B · 55%R&D$2.2B · 24%SG&A$640M · 7%Selling & marketing$2.1B · 24%Pre-tax income$5.6B · 63%Other income$3.3B · 37%Net income$4.8B · 53%Income tax$832M · 9%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.