Trip.com (TCOM) Return on Capital Employed (2009 - 2025)
Trip.com (TCOM) recorded quarterly Return on Capital Employed of 8.24% in Q4 2025, down 5.65% quarter-over-quarter from 8.74% in Q3 2025, and up 1.0% on a YoY basis from 8.16% in Q4 2024.
Trip.com (TCOM) Return on Capital Employed (2009 - 2025) Analysis & Trends
Trip.com's Return on Capital Employed history runs 17 years deep, the most recent figure standing at 8.24% for Q4 2025.
- In Q4 2025, Return on Capital Employed rose 1.0% year-over-year to 8.24%; the TTM figure through Dec 2025 stood at 8.24% (up 1.0% YoY), while the FY2025 annual figure was 8.94%, up 7.0% from the prior year.
- Return on Capital Employed was 8.24% for Q4 2025 at Trip.com, down from 8.74% in the prior quarter.
- In the past five years, Return on Capital Employed ranged from a high of 9.31% in Q2 2025 to a low of 1.14% in Q2 2022.
- Historically, Return on Capital Employed has averaged 4.25% across 5 years, with a median of 5.22% in 2023.
- The sharpest annual moves came in 2021 and 2024: Return on Capital Employed sank 258 bps in 2021, then surged 685 bps in 2024.
- A 5-year view of Return on Capital Employed shows it stood at 0.87% in 2021, then soared by 103 bps to 0.02% in 2022, then surged by 28521 bps to 6.8% in 2023, then rose by 21 bps to 8.23% in 2024, then rose by 0 bps to 8.24% in 2025.
- The last three Return on Capital Employed figures came in at 8.24% (Q4 2025), 8.74% (Q3 2025), and 9.31% (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 104.07% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 31.79% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 16.68% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 11.60% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | 35.97% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 0.57% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 2.23% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | - |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 8.24% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | 10.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 8.24% |
| Sep 30, 2025 | 8.74% |
| Jun 30, 2025 | 9.31% |
| Mar 31, 2025 | 8.59% |
| Dec 31, 2024 | 8.23% |
| Sep 30, 2024 | 8.56% |
| Jun 30, 2024 | 8.88% |
| Mar 31, 2024 | 9.02% |
| Dec 31, 2023 | 6.80% |
| Sep 30, 2023 | 6.29% |
| Jun 30, 2023 | 4.15% |
| Mar 31, 2023 | 2.16% |
| Dec 31, 2022 | 0.02% |
| Sep 30, 2022 | -0.37% |
| Jun 30, 2022 | -1.14% |
| Mar 31, 2022 | -0.71% |
| Dec 31, 2021 | -0.87% |
| Sep 30, 2021 | -0.53% |
| Jun 30, 2021 | 0.23% |
| Mar 31, 2021 | -0.53% |