Trip.com (TCOM) EBITDA Margin (2014 - 2026)
Trip.com (TCOM) recorded EBITDA Margin of 25.53% in Q1 2026, down 1.69 percentage points from 27.23% a year earlier but up 7.63 percentage points from the prior quarter.
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Analysis
Trip.com (TCOM) EBITDA Margin (2014 - 2026) Analysis & Trends
On a TTM basis, Trip.com's EBITDA Margin came in at 26.16% as of Mar 31, 2026, down 1.50 percentage points year-over-year; for FY2025, it was 27.07%, down 1.67 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of +26.24 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 28.74% in FY2024 (+1.07 pp), 27.68% in FY2023 (+22.11 pp), 5.57% in FY2022 (+6.02 pp) and -0.45% in FY2021 (-1.29 pp).
- Quarterly EBITDA Margin has ranged from -9.80% in Q4 2021 to 338.00% in Q4 2023 over the past five years.
- On a year-over-year basis, EBITDA Margin has declined for six consecutive quarters, with an average year-over-year change of -40.35 percentage points over the last eight quarters.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 338.41 percentage points in Q4 2023, against a drop of 318.27 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 17.90% (Q4 2025), 31.51% (Q3 2025) and 29.03% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 93.50 Bn | 91.55 Bn | 1.55 Bn | 20.52% |
| 2 | Hilton Worldwide Holdings | 72.30 Bn | 68.78 Bn | 3.08 Bn | 27.66% |
| 3 | Royal Caribbean Cruises | 64.91 Bn | 62.49 Bn | 2.29 Bn | 36.65% |
| 4 | Viking Holdings | 35.75 Bn | 20.87 Bn | 996.62 Mn | 33.23% |
| 5 | Carnival | 30.35 Bn | 23.01 Bn | - | 23.62% |
| 6 | Intercontinental Hotels | 26.52 Bn | 22.08 Bn | - | - |
| 7 | Trip.com | 25.92 Bn | -19.63 Bn | 1.84 Bn | - |
| 8 | Hyatt Hotels | 15.20 Bn | 12.68 Bn | 388.00 Mn | -67.85% |
| 9 | H World | 13.30 Bn | 4.22 Bn | - | 35.47% |
| 10 | Atour Lifestyle Holdings | 8.20 Bn | 4.90 Bn | 493.22 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 25.53% |
| Dec 31, 2025 | 17.90% |
| Sep 30, 2025 | 31.51% |
| Jun 30, 2025 | 29.03% |
| Mar 31, 2025 | 27.23% |
| Dec 31, 2024 | 19.73% |
| Sep 30, 2024 | 32.80% |
| Jun 30, 2024 | 29.43% |
| Mar 31, 2024 | 30.25% |
| Dec 31, 2023 | 338.00% |
| Sep 30, 2023 | 30.17% |
| Jun 30, 2023 | 28.32% |
| Mar 31, 2023 | 27.15% |
| Dec 31, 2022 | -0.41% |
| Sep 30, 2022 | 16.11% |
| Jun 30, 2022 | 1.34% |
| Mar 31, 2022 | -3.20% |
| Dec 31, 2021 | -9.80% |
| Sep 30, 2021 | 0.55% |
| Jun 30, 2021 | 9.43% |
API Access
Trip.com EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=TCOM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "TCOM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=TCOM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();