Trip.com Group Limited (TCOM) Balance Sheet

NASDAQ: TCOMAssets, liabilities, debt and equity over 10 years.

TCOM balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥267.56B assets = CN¥94.85B liabilities + CN¥172.71B equity

Both columns are drawn to the same scale: what TCOM owns equals what it owes plus shareholders’ equity. Hover a block for its value.

TCOM financial health

Current ratio1.55

Comfortable · current assets cover current liabilities 1.55×

Debt / equity0.18

Low leverage · CN¥0.18 of debt for each $1 of equity

Equity / assets63.9%

Equity-funded · of assets funded by shareholders

Cash / debt250.3%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles28.2%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

TCOM balance sheet trends, 2016–2025

Trip.com Group Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥144.41B2016	CN¥267.56B2025	+7.1%/yr
Total liabilities	CN¥68.89B2016	CN¥94.85B2025	+3.6%/yr
Shareholders’ equity	CN¥71.54B2016	CN¥171.06B2025	+10.2%/yr
Cash & short-term investments	CN¥32.55B2016	CN¥78.51B2025	+10.3%/yr
Total debt	CN¥41.54B2016	CN¥31.37B2025	−3.1%/yr
Net cash (debt)	−CN¥8.99B2016	CN¥47.14B2025	+CN¥56.1B
Working capital	CN¥15.62B2016	CN¥42.91B2025	+CN¥27.3B
Current ratio	1.522016	1.552025	+0.03
Debt / equity	0.582016	0.182025	−0.40
Shares outstanding	473.3M2016	698.4M2025	+4.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

TCOM assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

TCOM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

TCOM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

TCOM balance sheet in Chinese yuan

Trip.com Group Limited annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	CN¥78.51B	CN¥76.91B	CN¥59.34B	CN¥42.55B	CN¥49.38B	CN¥42.92B	CN¥42.98B	CN¥58.28B	CN¥46.37B	CN¥32.55B
Cash & equivalents	CN¥46.48B	CN¥48.44B	CN¥41.59B	CN¥17.00B	CN¥19.82B	CN¥18.10B	CN¥19.92B	CN¥21.53B	CN¥18.24B	CN¥18.43B
Short-term investments	CN¥32.03B	CN¥28.48B	CN¥17.75B	CN¥25.55B	CN¥29.57B	CN¥24.82B	CN¥23.06B	CN¥36.75B	CN¥28.13B	CN¥14.11B
Receivables	CN¥15.25B	CN¥21.84B	CN¥18.96B	CN¥11.40B	CN¥10.61B	CN¥8.88B	CN¥13.42B	CN¥8.87B	CN¥5.79B	CN¥5.80B
Inventory	CN¥0	CN¥0	CN¥9.48B	CN¥0	CN¥0	CN¥0	CN¥1.82B	CN¥4.24B	CN¥1.75B	CN¥1.74B
Other current assets	CN¥27.37B	CN¥13.36B	CN¥955.0M	CN¥7.49B	CN¥6.11B	CN¥6.22B	CN¥9.73B	CN¥7.99B	CN¥5.51B	CN¥5.82B
Total current assets	CN¥121.13B	CN¥112.12B	CN¥88.73B	CN¥61.44B	CN¥66.11B	CN¥58.01B	CN¥67.95B	CN¥79.39B	CN¥59.42B	CN¥45.91B
Property, plant & equipment (net)	CN¥6.33B	CN¥5.90B	CN¥5.86B	CN¥6.06B	CN¥6.32B	CN¥6.77B	CN¥7.34B	CN¥5.87B	CN¥5.62B	CN¥5.59B
Goodwill & intangible assets	CN¥75.33B	CN¥73.75B	CN¥72.02B	CN¥72.16B	CN¥72.40B	CN¥72.70B	CN¥71.57B	CN¥71.84B	CN¥70.09B	CN¥70.04B
Long-term investments	CN¥61.38B	CN¥47.19B	CN¥49.34B	CN¥50.18B	CN¥44.96B	CN¥47.94B	CN¥51.28B	CN¥26.87B	CN¥25.57B	CN¥20.53B
Other non-current assets	CN¥3.40B	CN¥3.62B	CN¥3.19B	CN¥1.86B	CN¥2.08B	CN¥1.83B	CN¥2.02B	CN¥1.85B	CN¥1.54B	CN¥2.34B
Total assets	CN¥267.56B	CN¥242.58B	CN¥219.14B	CN¥191.69B	CN¥191.86B	CN¥187.25B	CN¥200.17B	CN¥185.83B	CN¥162.24B	CN¥144.41B
Liabilities
Accounts payable	CN¥19.16B	CN¥16.58B	CN¥16.46B	CN¥7.57B	CN¥6.02B	CN¥4.51B	CN¥12.29B	CN¥11.71B	CN¥7.46B	CN¥7.28B
Short-term debt	CN¥19.35B	CN¥19.63B	CN¥26.00B	CN¥32.95B	CN¥40.23B	CN¥34.07B	CN¥30.95B	CN¥36.01B	CN¥16.32B	CN¥6.89B
Deferred revenue	CN¥18.20B	CN¥18.03B	CN¥13.38B	CN¥8.28B	CN¥7.54B	CN¥7.61B	CN¥11.68B	CN¥9.47B	CN¥7.87B	CN¥8.20B
Total current liabilities	CN¥78.22B	CN¥74.01B	CN¥72.41B	CN¥61.24B	CN¥66.22B	CN¥58.37B	CN¥69.18B	CN¥68.78B	CN¥42.16B	CN¥30.30B
Long-term debt	CN¥11.43B	CN¥20.13B	CN¥19.10B	CN¥17.38B	CN¥11.09B	CN¥22.72B	CN¥19.54B	CN¥24.15B	CN¥29.22B	CN¥34.65B
Lease obligations	CN¥849.0M	CN¥755.0M	CN¥617.0M	CN¥534.0M	CN¥400.0M	CN¥618.0M	CN¥749.0M	CN¥0	CN¥0	CN¥0
Other long-term liabilities	CN¥5.20B	CN¥4.96B	CN¥4.62B	CN¥52.0M	CN¥4.09B	CN¥4.59B	CN¥5.75B	CN¥4.17B	CN¥4.24B	CN¥3.95B
Total liabilities	CN¥94.85B	CN¥99.10B	CN¥96.13B	CN¥78.67B	CN¥81.40B	CN¥85.68B	CN¥94.47B	CN¥97.10B	CN¥75.62B	CN¥68.89B
Shareholders' equity
Common stock & paid-in capital	—	CN¥6.0M	CN¥6.0M	CN¥6.0M	CN¥6.0M	CN¥6.0M	CN¥6.0M	CN¥5.0M	CN¥5.0M	CN¥5.0M
Retained earnings (deficit)	CN¥76.60B	CN¥45.25B	CN¥28.81B	CN¥20.14B	CN¥18.82B	CN¥19.47B	CN¥22.80B	CN¥15.94B	CN¥8.84B	CN¥6.70B
Treasury stock	—	—	—	—	—	−CN¥2.11B	−CN¥2.11B	−CN¥2.11B	−CN¥2.11B	−CN¥2.24B
Accumulated other comprehensive income	—	CN¥1.26B	−CN¥328.0M	−CN¥943.0M	−CN¥870.0M	−CN¥971.0M	−CN¥870.0M	−CN¥998.0M	CN¥6.76B	CN¥1.25B
Minority interest	CN¥1.65B	CN¥932.0M	CN¥822.0M	CN¥736.0M	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Total shareholders' equity	CN¥171.06B	CN¥142.55B	CN¥122.18B	CN¥112.28B	CN¥109.68B	CN¥100.35B	CN¥103.44B	CN¥86.72B	CN¥84.84B	CN¥71.54B
Key figures
Total debt	CN¥31.37B	CN¥40.32B	CN¥45.57B	CN¥46.66B	CN¥51.72B	CN¥57.41B	CN¥51.24B	CN¥60.16B	CN¥45.54B	CN¥41.54B
Net cash (debt)	CN¥47.14B	CN¥36.59B	CN¥13.77B	−CN¥4.11B	−CN¥2.34B	−CN¥14.49B	−CN¥8.26B	−CN¥1.87B	CN¥837.0M	−CN¥8.99B
Working capital	CN¥42.91B	CN¥38.11B	CN¥16.32B	CN¥196.0M	−CN¥110.0M	−CN¥358.0M	−CN¥1.23B	CN¥10.61B	CN¥17.26B	CN¥15.62B
Tangible book value	CN¥95.73B	CN¥68.80B	CN¥50.17B	CN¥40.12B	CN¥37.28B	CN¥27.66B	CN¥31.87B	CN¥14.87B	CN¥14.74B	CN¥1.50B
Shares outstanding	698.4M	688.7M	671.1M	634.1M	634.1M	600.9M	642.0M	567.4M	574.2M	473.3M
Current ratio	1.55	1.51	1.23	1.00	1.00	0.99	0.98	1.15	1.41	1.52
Quick ratio	1.20	1.33	1.08	0.88	0.91	0.89	0.82	0.98	1.24	1.27
Debt / equity	0.18	0.28	0.37	0.42	0.47	0.57	0.50	0.69	0.54	0.58
Equity / assets	63.9%	58.8%	55.8%	58.6%	57.2%	53.6%	51.7%	46.7%	52.3%	49.5%

Trip.com Group Limited quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥79.52B	CN¥80.71B	CN¥78.51B	CN¥80.45B	CN¥80.02B	CN¥78.10B	CN¥79.57B	CN¥76.30B	CN¥89.77B	CN¥67.69B	CN¥61.73B	CN¥61.84B
Cash & equivalents	CN¥56.02B	CN¥56.91B	CN¥46.48B	CN¥59.22B	CN¥58.31B	CN¥56.36B	CN¥51.09B	CN¥41.98B	CN¥51.55B	CN¥42.19B	CN¥43.98B	CN¥37.76B
Short-term investments	CN¥23.50B	CN¥23.80B	CN¥32.03B	CN¥21.23B	CN¥21.70B	CN¥21.74B	CN¥28.48B	CN¥34.32B	CN¥38.22B	CN¥25.51B	CN¥17.75B	CN¥24.08B
Receivables	CN¥17.05B	CN¥16.23B	CN¥15.25B	CN¥16.34B	CN¥14.41B	CN¥13.36B	CN¥12.46B	CN¥13.84B	CN¥12.91B	CN¥15.31B	CN¥11.41B	CN¥12.85B
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥9.48B	CN¥0	CN¥9.48B
Other current assets	CN¥25.95B	CN¥25.89B	CN¥27.37B	CN¥28.61B	CN¥22.09B	CN¥20.83B	CN¥20.09B	CN¥24.46B	CN¥18.86B	CN¥7.55B	CN¥15.59B	CN¥9.45B
Total current assets	CN¥122.51B	CN¥122.84B	CN¥121.13B	CN¥125.41B	CN¥116.52B	CN¥112.29B	CN¥112.12B	CN¥114.60B	CN¥121.54B	CN¥100.03B	CN¥88.73B	CN¥93.61B
Property, plant & equipment (net)	CN¥6.62B	CN¥6.47B	CN¥6.33B	CN¥6.33B	CN¥6.16B	CN¥5.81B	CN¥5.81B	CN¥5.79B	CN¥5.82B	CN¥5.73B	CN¥5.78B	CN¥5.82B
Goodwill & intangible assets	CN¥75.14B	CN¥74.92B	CN¥75.33B	CN¥75.36B	CN¥74.85B	CN¥73.95B	CN¥73.75B	CN¥73.82B	CN¥71.93B	CN¥71.97B	CN¥72.02B	CN¥72.05B
Long-term investments	CN¥51.36B	CN¥54.79B	CN¥61.38B	CN¥59.75B	CN¥51.12B	CN¥51.83B	CN¥47.19B	CN¥46.74B	CN¥45.39B	CN¥47.67B	CN¥49.34B	CN¥53.47B
Other non-current assets	CN¥3.45B	CN¥3.21B	CN¥3.40B	CN¥3.73B	CN¥3.79B	CN¥3.88B	CN¥3.71B	CN¥3.34B	CN¥3.14B	CN¥3.10B	CN¥3.26B	CN¥2.56B
Total assets	CN¥259.09B	CN¥262.23B	CN¥267.56B	CN¥270.58B	CN¥252.44B	CN¥247.76B	CN¥242.58B	CN¥244.30B	CN¥247.82B	CN¥228.51B	CN¥219.14B	CN¥227.51B
Liabilities
Accounts payable	CN¥19.96B	CN¥19.91B	CN¥19.16B	CN¥20.15B	CN¥19.51B	CN¥16.98B	CN¥16.58B	CN¥17.60B	CN¥19.19B	CN¥17.74B	CN¥16.46B	CN¥18.17B
Short-term debt	CN¥25.77B	CN¥20.01B	CN¥19.35B	CN¥20.34B	CN¥28.20B	CN¥22.58B	CN¥19.43B	CN¥26.61B	CN¥39.53B	CN¥38.63B	CN¥25.86B	CN¥30.81B
Deferred revenue	CN¥20.86B	CN¥18.85B	CN¥18.20B	CN¥22.21B	CN¥19.69B	CN¥17.36B	—	CN¥17.22B	CN¥16.56B	CN¥13.93B	—	CN¥14.34B
Total current liabilities	CN¥92.34B	CN¥80.29B	CN¥78.22B	CN¥84.48B	CN¥87.45B	CN¥76.78B	CN¥74.01B	CN¥80.44B	CN¥92.12B	CN¥86.81B	CN¥72.41B	CN¥79.76B
Long-term debt	CN¥630.0M	CN¥10.74B	CN¥11.43B	CN¥11.03B	CN¥10.94B	CN¥19.66B	CN¥20.13B	CN¥19.13B	CN¥20.03B	CN¥8.69B	CN¥19.10B	CN¥19.68B
Lease obligations	CN¥567.0M	CN¥542.0M	CN¥849.0M	CN¥563.0M	CN¥543.0M	CN¥522.0M	CN¥755.0M	CN¥543.0M	CN¥545.0M	CN¥468.0M	CN¥617.0M	CN¥468.0M
Other long-term liabilities	CN¥5.32B	CN¥5.09B	CN¥5.20B	CN¥5.09B	CN¥4.57B	CN¥4.34B	CN¥4.96B	CN¥4.61B	CN¥4.28B	CN¥4.40B	CN¥4.62B	CN¥4.46B
Total liabilities	CN¥98.28B	CN¥96.13B	CN¥94.85B	CN¥100.60B	CN¥102.96B	CN¥100.78B	CN¥99.10B	CN¥104.17B	CN¥116.43B	CN¥99.90B	CN¥96.13B	CN¥103.90B
Shareholders' equity
Common stock & paid-in capital	—	—	—	CN¥168.09B	CN¥147.65B	CN¥6.0M	CN¥141.81B	CN¥138.41B	CN¥130.50B	CN¥6.0M	CN¥122.18B	CN¥122.82B
Retained earnings (deficit)	—	—	CN¥76.60B	—	—	CN¥45.25B	CN¥45.25B	—	—	CN¥33.12B	CN¥28.81B	CN¥28.81B
Accumulated other comprehensive income	—	—	—	CN¥132.0M	CN¥791.0M	CN¥1.26B	CN¥743.0M	CN¥733.0M	—	−CN¥213.0M	—	−CN¥328.0M
Minority interest	CN¥1.61B	CN¥1.59B	CN¥1.65B	CN¥1.75B	CN¥1.04B	—	—	—	—	—	—	—
Total shareholders' equity	CN¥159.19B	CN¥164.52B	CN¥171.06B	CN¥168.23B	CN¥148.44B	CN¥145.99B	CN¥142.55B	CN¥139.14B	CN¥130.50B	CN¥127.77B	CN¥122.18B	CN¥122.82B
Key figures
Total debt	CN¥26.96B	CN¥31.25B	CN¥31.37B	CN¥31.93B	CN¥39.68B	CN¥42.76B	CN¥40.13B	CN¥46.28B	CN¥60.11B	CN¥47.78B	CN¥45.43B	CN¥50.95B
Net cash (debt)	CN¥52.55B	CN¥49.46B	CN¥47.14B	CN¥48.52B	CN¥40.34B	CN¥35.34B	CN¥39.44B	CN¥30.02B	CN¥29.66B	CN¥19.91B	CN¥16.30B	CN¥10.88B
Working capital	CN¥30.18B	CN¥42.54B	CN¥42.91B	CN¥40.93B	CN¥29.06B	CN¥35.51B	CN¥38.11B	CN¥34.16B	CN¥29.42B	CN¥13.22B	CN¥16.32B	CN¥13.85B
Tangible book value	CN¥84.05B	CN¥89.60B	CN¥95.73B	CN¥92.87B	CN¥73.59B	CN¥72.03B	CN¥68.80B	CN¥65.32B	CN¥58.57B	CN¥55.80B	CN¥50.17B	CN¥50.77B
Shares outstanding	632.3M	681.7M	700.5M	695.0M	695.7M	702.1M	698.2M	688.0M	688.0M	675.9M	668.3M	674.1M
Current ratio	1.33	1.53	1.55	1.48	1.33	1.46	1.51	1.42	1.32	1.15	1.23	1.17
Quick ratio	1.05	1.21	1.20	1.15	1.08	1.19	1.24	1.12	1.11	0.96	1.01	0.94
Debt / equity	0.17	0.19	0.18	0.19	0.27	0.29	0.28	0.33	0.46	0.37	0.37	0.41
Equity / assets	61.4%	62.7%	63.9%	62.2%	58.8%	58.9%	58.8%	57.0%	52.7%	55.9%	55.8%	54.0%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 28, 2026); data from EODHD.

TCOM financial position

At the end of fiscal 2025 (December 31, 2025), Trip.com had total assets of CN¥267.6 billion (up 10.3% from a year earlier), total liabilities of CN¥94.8 billion and shareholders' equity of CN¥171.1 billion. It held CN¥78.5 billion in cash and short-term investments against CN¥31.4 billion of debt, a net cash position of CN¥47.1 billion. Its current ratio was 1.55. In the latest quarter (ended June 30, 2026) total assets were CN¥259.1 billion and equity CN¥159.2 billion.

Related: TCOM income statement, TCOM cash flow statement, TCOM key metrics. See the TCOM stock overview for the latest quote and news.

TCOM balance sheet FAQ

What are Trip.com's total assets?

Trip.com reported total assets of CN¥267.6 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥242.6 billion a year earlier.

How much debt does Trip.com have?

Trip.com had CN¥31.4 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.18.

How much cash does Trip.com have?

Trip.com held CN¥78.5 billion in cash and short-term investments at the end of fiscal 2025; with CN¥31.4 billion of debt that is net cash of CN¥47.1 billion.

What is Trip.com's book value?

Trip.com's shareholders' equity (book value) was CN¥171.1 billion at the end of fiscal 2025.

What is Trip.com's current ratio?

Trip.com had current assets of CN¥121.1 billion and current liabilities of CN¥78.2 billion, a current ratio of 1.55 (it can cover its short-term obligations).

How much goodwill does Trip.com have?

Trip.com carried CN¥75.3 billion of goodwill and intangible assets, 28.2% of total assets, at the end of fiscal 2025.