Trip.com (TCOM) Operating Margin (2009 - 2026)
Trip.com (TCOM) posted Operating Margin of 24.34% for Q1 2026, up 47.58% on a QoQ basis from 16.49% in Q4 2025, and down 142.0% year-over-year from 57.95% in Q1 2025.
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Trip.com (TCOM) Operating Margin (2009 - 2026) Analysis & Trends
Trip.com has reported Operating Margin for 18 years, with the latest figure at 24.34% in Q1 2026.
- On a quarterly basis, Operating Margin fell 142.0% year-over-year to 24.34% in Q1 2026; TTM through Mar 2026 was 24.88%, a 126.0% decrease from a year earlier, with the FY2025 full-year figure at 25.25%, down 132.0% from the prior year.
- Operating Margin was 24.34% for Q1 2026 at Trip.com, up from 16.49% in the prior quarter.
- The five-year high for Operating Margin was 309.0% in Q4 2023, with the low at 8.47% in Q1 2022.
- Average Operating Margin over 5 years is 34.72%, with a median of 25.76% recorded in 2025.
- The sharpest annual moves came in 2023 and 2024: Operating Margin surged 31366 bps in 2023, then tumbled 29099 bps in 2024.
- Over 5 years, Operating Margin stood at 4.66% in 2022, then soared by 6734 bps to 309.0% in 2023, then plunged by 94 bps to 18.01% in 2024, then retreated by 8 bps to 16.49% in 2025, then jumped by 48 bps to 24.34% in 2026.
- The last three Operating Margin figures came in at 24.34% (Q1 2026), 16.49% (Q4 2025), and 30.35% (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trip.com | 26.65 Bn | 15.19 Bn | 1.86 Bn | 24.34% |
| 2 | Yatra Online | 6.38 Bn | 6.42 Bn | 12.97 Mn | 2.98% |
| 3 | Global Business Travel | 4.95 Bn | 4.48 Bn | 514.00 Mn | 2.76% |
| 4 | Ambitions Enterprise Management Co. L.L.C | 36.55 Mn | 33.39 Mn | - | - |
| 5 | JX Luxventure | 5.82 Mn | 5.11 Mn | - | - |
| 6 | Maitong Sunshine Cultural Development | 1.92 Mn | 1.91 Mn | - | - |
| 7 | Wetour Robotics | 560,999.99 | 377,549.02 | - | - |
| 8 | Tuniu | 5.03 | -154.31 Mn | 11.27 Mn | -4.38% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 24.34% |
| Dec 31, 2025 | 16.49% |
| Sep 30, 2025 | 30.35% |
| Jun 30, 2025 | 27.61% |
| Mar 31, 2025 | 25.76% |
| Dec 31, 2024 | 18.01% |
| Sep 30, 2024 | 31.43% |
| Jun 30, 2024 | 27.80% |
| Mar 31, 2024 | 27.80% |
| Dec 31, 2023 | 309.00% |
| Sep 30, 2023 | 28.44% |
| Jun 30, 2023 | 26.45% |
| Mar 31, 2023 | 1.79% |
| Dec 31, 2022 | -4.66% |
| Sep 30, 2022 | 12.28% |
| Jun 30, 2022 | -4.17% |
| Mar 31, 2022 | -8.47% |
| Dec 31, 2021 | -15.10% |
| Sep 30, 2021 | -4.45% |
| Jun 30, 2021 | 5.59% |