Trip.com Group Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	56,005	48,668	41,042	17,513	17,499
Other Revenue	6,404	4,626	3,468	2,526	2,524
Revenue	62,409	53,294	44,510	20,039	20,023
Revenue Growth (YoY)	17.10%	19.73%	122.12%	0.08%	9.32%
Cost of Revenue	12,122	9,990	8,121	4,513	4,598
Gross Profit	50,287	43,304	36,389	15,526	15,425
Selling, General & Admin	19,378	15,988	12,945	7,097	7,844
Research & Development	15,136	13,139	12,120	8,341	8,992
Operating Expenses	34,514	29,127	25,065	15,438	16,836
Operating Income	15,773	14,177	11,324	88	-1,411
Interest Expense	-849	-1,735	-2,067	-1,514	-1,565
Interest & Investment Income	2,603	2,511	2,267	2,099	2,132
Earnings From Equity Investments	353	2,828	1,072	-586	96
Currency Exchange Gain (Loss)	-	-12	29	-69	1
Other Non Operating Income (Expenses)	17,367	303	130	-134	25
EBT Excluding Unusual Items	35,247	18,072	12,755	-116	-722
Gain (Loss) on Sale of Investments	3,954	968	-1,611	1,547	-203
Other Unusual Items	-	791	608	618	550
Pretax Income	39,201	19,831	11,752	2,049	-375
Income Tax Expense	5,815	2,604	1,750	682	270
Earnings From Continuing Operations	33,386	17,227	10,002	1,367	-645
Minority Interest in Earnings	-92	-160	-84	36	95
Net Income	33,294	17,067	9,918	1,403	-550
Net Income to Common	33,294	17,067	9,918	1,403	-550
Net Income Growth	95.08%	72.08%	606.91%	-	-
Shares Outstanding (Basic)	658	654	653	648	634
Shares Outstanding (Diluted)	698	689	671	657	634
Shares Change (YoY)	1.41%	2.63%	2.13%	3.62%	5.53%
EPS (Basic)	50.62	26.09	15.19	2.16	-0.87
EPS (Diluted)	47.67	24.78	14.78	2.14	-0.87
EPS Growth	92.35%	67.67%	590.70%	-	-
Free Cash Flow	-	19,034	21,398	2,144	1,905
Free Cash Flow Per Share	-	27.64	31.89	3.26	3.00
Dividend Per Share	-	2.190	-	-	-
Gross Margin	80.58%	81.25%	81.75%	77.48%	77.04%
Operating Margin	25.27%	26.60%	25.44%	0.44%	-7.05%
Profit Margin	53.35%	32.02%	22.28%	7.00%	-2.75%
Free Cash Flow Margin	-	35.72%	48.08%	10.70%	9.51%
EBITDA	16,621	15,025	12,138	960	-393
EBITDA Margin	26.63%	28.19%	27.27%	4.79%	-1.96%
D&A For EBITDA	848	848	814	872	1,018
EBIT	15,773	14,177	11,324	88	-1,411
EBIT Margin	25.27%	26.60%	25.44%	0.44%	-7.05%
Effective Tax Rate	14.83%	13.13%	14.89%	33.28%	-
Revenue as Reported	62,409	53,294	44,510	20,039	20,023
Advertising Expenses	-	7,000	5,300	2,100	2,400

Source: S&P Global Market Intelligence. Standard template. Financial Sources.