Trip.com (TCOM) EBITDA Margin (2009 - 2026)
Trip.com (TCOM) posted quarterly EBITDA Margin of 29.83% for Q1 2026, down 85.0% year-over-year from 198.87% in Q1 2025, and up 34.36% quarter-over-quarter from 22.2% in Q4 2025.
Trip.com (TCOM) EBITDA Margin (2009 - 2026) Analysis & Trends
Trip.com's EBITDA Margin history runs 18 years deep, the most recent figure standing at 29.83% for Q1 2026.
- In Q1 2026, EBITDA Margin fell 85.0% year-over-year to 29.83%; the TTM figure through Mar 2026 stood at 29.99% (down 141.0% YoY), while the FY2025 annual figure was 30.24%, down 177.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 29.83%, up from 22.2% in the prior quarter.
- The five-year high for EBITDA Margin was 35.67% in Q3 2024, with the low at 2.47% in Q1 2022.
- The 5-year median for EBITDA Margin is 30.57% (2023), against an average of 25.88%.
- The sharpest annual moves came in 2022 and 2023: EBITDA Margin plunged 672 bps in 2022, then jumped 2811 bps in 2023.
- Trip.com's EBITDA Margin stood at 5.62% in 2022, then surged by 390 bps to 27.54% in 2023, then declined by 15 bps to 23.33% in 2024, then fell by 5 bps to 22.2% in 2025, then jumped by 34 bps to 29.83% in 2026.
- Business Quant data shows TCOM's EBITDA Margin at 29.83% in Q1 2026, 22.2% in Q4 2025, and 34.57% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 34.00% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 21.01% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 27.05% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 0.03% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 12.77% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 18.54% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 29.83% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 13.76% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 15.30% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 2.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 29.83% |
| Dec 31, 2025 | 22.20% |
| Sep 30, 2025 | 34.57% |
| Jun 30, 2025 | 32.77% |
| Mar 31, 2025 | 30.68% |
| Dec 31, 2024 | 23.33% |
| Sep 30, 2024 | 35.67% |
| Jun 30, 2024 | 34.74% |
| Mar 31, 2024 | 33.31% |
| Dec 31, 2023 | 27.54% |
| Sep 30, 2023 | 33.63% |
| Jun 30, 2023 | 33.79% |
| Mar 31, 2023 | 30.57% |
| Dec 31, 2022 | 5.62% |
| Sep 30, 2022 | 20.43% |
| Jun 30, 2022 | 8.85% |
| Mar 31, 2022 | 2.47% |
| Dec 31, 2021 | 0.95% |
| Sep 30, 2021 | 9.99% |
| Jun 30, 2021 | 15.57% |