Trip.com (TCOM) EBT Margin (2009 - 2025)
Trip.com (TCOM) recorded quarterly EBT Margin of 17.22% in Q4 2025, down 50.86% quarter-over-quarter from 35.04% in Q3 2025, and down 331.0% on a YoY basis from 7.45% in Q4 2024.
Trip.com (TCOM) EBT Margin (2009 - 2025) Analysis & Trends
Trip.com's EBT Margin history runs 17 years deep, the most recent figure standing at 17.22% for Q4 2025.
- In Q4 2025, EBT Margin fell 331.0% year-over-year to 17.22%; the TTM figure through Dec 2025 stood at 13.07% (up 348.0% YoY), while the FY2025 annual figure was 62.17%, up 3026.0% from the prior year.
- EBT Margin was 17.22% for Q4 2025 at Trip.com, down from 35.04% in the prior quarter.
- In the past five years, EBT Margin ranged from a high of 41.44% in Q2 2024 to a low of 7.48% in Q4 2021.
- Historically, EBT Margin has averaged 25.2% across 5 years, with a median of 30.13% in 2025.
- Biggest YoY gain for EBT Margin was 11218 bps in 2021; the steepest drop was 2351 bps in 2021.
- A 5-year view of EBT Margin shows it stood at 7.48% in 2021, then soared by 152 bps to 3.87% in 2022, then surged by 573 bps to 26.03% in 2023, then dropped by 21 bps to 20.53% in 2024, then decreased by 16 bps to 17.22% in 2025.
- The last three EBT Margin figures came in at 17.22% (Q4 2025), 35.04% (Q3 2025), and 37.78% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 25.29% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 10.49% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 21.92% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 4.54% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 0.73% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 4.62% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 1.31% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 11.24% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 17.22% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | 12.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 17.22% |
| Sep 30, 2025 | 35.04% |
| Jun 30, 2025 | 37.78% |
| Mar 31, 2025 | 32.41% |
| Dec 31, 2024 | 20.53% |
| Sep 30, 2024 | 37.70% |
| Jun 30, 2024 | 41.44% |
| Mar 31, 2024 | 36.99% |
| Dec 31, 2023 | 26.03% |
| Sep 30, 2023 | 36.18% |
| Jun 30, 2023 | 39.90% |
| Mar 31, 2023 | 34.38% |
| Dec 31, 2022 | 3.87% |
| Sep 30, 2022 | 24.56% |
| Jun 30, 2022 | 32.72% |
| Mar 31, 2022 | 14.18% |
| Dec 31, 2021 | -7.48% |
| Sep 30, 2021 | 11.67% |
| Jun 30, 2021 | 27.85% |
| Mar 31, 2021 | 1.11% |