Trip.com Group Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	54,023	48,668	41,042	17,513	17,499	16,385
Other Revenue	5,732	4,626	3,468	2,526	2,524	1,931
Revenue	59,755	53,294	44,510	20,039	20,023	18,316
Revenue Growth (YoY)	17.46%	19.73%	122.12%	0.08%	9.32%	-48.65%
Cost of Revenue	11,522	9,990	8,121	4,513	4,598	4,031
Gross Profit	48,233	43,304	36,389	15,526	15,425	14,285
Selling, General & Admin	18,188	15,988	12,945	7,097	7,844	8,041
Research & Development	14,505	13,139	12,120	8,341	8,992	7,667
Operating Expenses	32,693	29,127	25,065	15,438	16,836	15,708
Operating Income	15,540	14,177	11,324	88	-1,411	-1,423
Interest Expense	-1,057	-1,735	-2,067	-1,514	-1,565	-1,716
Interest & Investment Income	2,611	2,511	2,267	2,099	2,132	2,187
Earnings From Equity Investments	740	2,828	1,072	-586	96	-1,689
Currency Exchange Gain (Loss)	-12	-12	29	-69	1	-40
Other Non Operating Income (Expenses)	16,468	303	130	-134	25	194
EBT Excluding Unusual Items	34,290	18,072	12,755	-116	-722	-2,487
Gain (Loss) on Sale of Investments	1,729	968	-1,611	1,547	-203	-2,119
Gain (Loss) on Sale of Assets	-	-	-	-	-	1,091
Other Unusual Items	791	791	608	618	550	601
Pretax Income	36,810	19,831	11,752	2,049	-375	-2,914
Income Tax Expense	5,506	2,604	1,750	682	270	355
Earnings From Continuing Operations	31,304	17,227	10,002	1,367	-645	-3,269
Minority Interest in Earnings	-134	-160	-84	36	95	22
Net Income	31,170	17,067	9,918	1,403	-550	-3,247
Net Income to Common	31,170	17,067	9,918	1,403	-550	-3,247
Net Income Growth	92.32%	72.08%	606.91%	-	-	-
Shares Outstanding (Basic)	658	654	653	648	634	601
Shares Outstanding (Diluted)	700	689	671	657	634	601
Shares Change (YoY)	3.14%	2.63%	2.13%	3.62%	5.53%	-6.40%
EPS (Basic)	47.38	26.09	15.19	2.16	-0.87	-5.40
EPS (Diluted)	44.51	24.78	14.78	2.14	-0.87	-5.40
EPS Growth	86.40%	67.67%	590.70%	-	-	-
Free Cash Flow	-	19,034	21,398	2,144	1,905	-4,355
Free Cash Flow Per Share	-	27.64	31.89	3.26	3.00	-7.25
Dividend Per Share	-	2.190	-	-	-	-
Gross Margin	80.72%	81.25%	81.75%	77.48%	77.04%	77.99%
Operating Margin	26.01%	26.60%	25.44%	0.44%	-7.05%	-7.77%
Profit Margin	52.16%	32.02%	22.28%	7.00%	-2.75%	-17.73%
Free Cash Flow Margin	-	35.72%	48.08%	10.70%	9.51%	-23.78%
EBITDA	16,414	15,025	12,138	960	-393	-209
EBITDA Margin	27.47%	28.19%	27.27%	4.79%	-1.96%	-1.14%
D&A For EBITDA	873.5	848	814	872	1,018	1,214
EBIT	15,540	14,177	11,324	88	-1,411	-1,423
EBIT Margin	26.01%	26.60%	25.44%	0.44%	-7.05%	-7.77%
Effective Tax Rate	14.96%	13.13%	14.89%	33.28%	-	-
Revenue as Reported	59,755	53,294	44,510	20,039	20,023	18,316
Advertising Expenses	-	7,000	5,300	2,100	2,400	1,900

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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