Trip.com (TCOM) Net Margin (2009 - 2026)
Trip.com (TCOM) posted quarterly Net Margin of 33.6% for Q1 2026, down 740.0% year-over-year from 5.25% in Q1 2025, and down 13.42% quarter-over-quarter from 38.8% in Q4 2025.
Trip.com (TCOM) Net Margin (2009 - 2026) Analysis & Trends
Trip.com's Net Margin history runs 18 years deep, the most recent figure standing at 33.6% for Q1 2026.
- In Q1 2026, Net Margin fell 740.0% year-over-year to 33.6%; the TTM figure through Mar 2026 stood at 67.81% (up 3096.0% YoY), while the FY2025 annual figure was 52.87%, up 2540.0% from the prior year.
- Net Margin for Q1 2026 stood at 33.6%, down from 38.8% in the prior quarter.
- The five-year high for Net Margin was 143.19% in Q3 2025, with the low at 19.13% in Q1 2022.
- The 5-year median for Net Margin is 34.3% (2023), against an average of 35.27%.
- The sharpest annual moves came in 2022 and 2025: Net Margin plunged 5966 bps in 2022, then soared 9572 bps in 2025.
- Trip.com's Net Margin stood at 50.6% in 2022, then tumbled by 66 bps to 17.31% in 2023, then soared by 30 bps to 22.58% in 2024, then soared by 72 bps to 38.8% in 2025, then retreated by 13 bps to 33.6% in 2026.
- Business Quant data shows TCOM's Net Margin at 33.6% in Q1 2026, 38.8% in Q4 2025, and 143.19% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 26.52% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 22.62% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 23.51% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 17.99% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 8.07% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 20.28% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 33.60% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 8.43% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 3.19% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 1.72% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 33.60% |
| Dec 31, 2025 | 38.80% |
| Sep 30, 2025 | 143.19% |
| Jun 30, 2025 | 43.69% |
| Mar 31, 2025 | 41.00% |
| Dec 31, 2024 | 22.58% |
| Sep 30, 2024 | 47.48% |
| Jun 30, 2024 | 32.87% |
| Mar 31, 2024 | 40.52% |
| Dec 31, 2023 | 17.31% |
| Sep 30, 2023 | 36.05% |
| Jun 30, 2023 | 13.64% |
| Mar 31, 2023 | 34.30% |
| Dec 31, 2022 | 50.60% |
| Sep 30, 2022 | 10.52% |
| Jun 30, 2022 | 12.53% |
| Mar 31, 2022 | -19.13% |
| Dec 31, 2021 | -15.75% |
| Sep 30, 2021 | -16.73% |
| Jun 30, 2021 | -11.23% |