Trip.com Group Limited (TCOM) Income Statement
TCOM 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanTCOM revenue and net income
Where TCOM's revenue goes
2025Each bar shows an amount and its share of revenue. TCOM kept 53.3% of revenue as net income.
TCOM profit margins
TCOM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.9% | +44.7% | +27.1% | +18.7% |
| Gross profit | +13.0% | +46.6% | +27.9% | +20.1% |
| Operating income | +8.2% | +458.7% | — | +44.7% |
| Net income | +89.8% | +184.7% | — | +29.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TCOM income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥60.71B | CN¥53.29B | CN¥44.51B | CN¥20.04B | CN¥20.02B | CN¥18.32B | CN¥35.67B | CN¥30.96B | CN¥26.80B | CN¥19.25B |
| Cost of revenue | CN¥11.79B | CN¥9.99B | CN¥8.12B | CN¥4.51B | CN¥4.60B | CN¥4.03B | CN¥7.37B | CN¥6.32B | CN¥4.68B | CN¥4.73B |
| Gross profit | CN¥48.92B | CN¥43.30B | CN¥36.39B | CN¥15.53B | CN¥15.43B | CN¥14.29B | CN¥28.29B | CN¥24.64B | CN¥22.12B | CN¥14.52B |
| Research & development | CN¥14.72B | CN¥13.14B | CN¥12.12B | CN¥8.34B | CN¥8.99B | CN¥7.67B | CN¥10.67B | CN¥9.62B | CN¥8.26B | CN¥7.69B |
| Sales, general & admin | CN¥19.38B | CN¥15.99B | CN¥12.95B | CN¥7.10B | CN¥7.84B | CN¥8.04B | CN¥12.58B | CN¥12.42B | CN¥10.92B | CN¥8.38B |
| Total operating expenses | CN¥33.57B | CN¥29.13B | CN¥25.07B | CN¥15.44B | CN¥16.84B | CN¥15.71B | CN¥23.25B | CN¥22.04B | CN¥19.18B | CN¥16.07B |
| Operating income | CN¥15.34B | CN¥14.18B | CN¥11.32B | CN¥88.0M | −CN¥1.41B | −CN¥1.42B | CN¥5.04B | CN¥2.60B | CN¥2.94B | −CN¥1.55B |
| Interest income | CN¥2.60B | CN¥2.34B | CN¥2.09B | CN¥2.05B | CN¥2.13B | CN¥2.19B | CN¥2.09B | CN¥1.90B | CN¥987.6M | CN¥567.1M |
| Interest expense | CN¥825.9M | CN¥1.74B | CN¥2.07B | CN¥1.51B | CN¥1.56B | CN¥1.72B | CN¥1.68B | CN¥1.51B | CN¥1.29B | CN¥731.9M |
| Income before taxes | CN¥38.13B | CN¥19.83B | CN¥11.75B | CN¥2.05B | −CN¥375.0M | −CN¥2.91B | CN¥8.74B | CN¥1.89B | CN¥3.46B | −CN¥1.14B |
| Income taxes | CN¥5.66B | CN¥2.60B | CN¥1.75B | CN¥682.0M | CN¥270.0M | CN¥355.0M | CN¥1.74B | CN¥793.0M | CN¥1.28B | CN¥482.0M |
| Net income | CN¥32.39B | CN¥17.07B | CN¥9.92B | CN¥1.40B | −CN¥550.0M | −CN¥3.25B | CN¥7.01B | CN¥1.11B | CN¥2.15B | −CN¥1.42B |
| EBITDA | CN¥40.05B | CN¥22.67B | CN¥14.87B | CN¥4.85B | CN¥2.60B | CN¥143.0M | CN¥6.49B | CN¥3.59B | CN¥3.83B | −CN¥834.0M |
| Gross margin | 80.6% | 81.3% | 81.8% | 77.5% | 77.0% | 78.0% | 79.3% | 79.6% | 82.5% | 75.4% |
| Operating margin | 25.3% | 26.6% | 25.4% | 0.4% | −7.0% | −7.8% | 14.1% | 8.4% | 11.0% | −8.1% |
| Net margin | 53.3% | 32.0% | 22.3% | 7.0% | −2.7% | −17.7% | 19.7% | 3.6% | 8.0% | −7.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥15.66B | CN¥16.11B | CN¥15.19B | CN¥18.34B | CN¥14.84B | CN¥13.83B | CN¥12.74B | CN¥15.87B | CN¥12.77B | CN¥11.90B | CN¥10.32B | CN¥13.74B |
| Cost of revenue | CN¥3.16B | CN¥3.31B | CN¥3.20B | CN¥3.36B | CN¥2.82B | CN¥2.71B | CN¥2.64B | CN¥2.80B | CN¥2.31B | CN¥2.24B | CN¥2.01B | CN¥2.47B |
| Gross profit | CN¥12.50B | CN¥12.80B | CN¥11.99B | CN¥14.98B | CN¥12.03B | CN¥11.12B | CN¥10.10B | CN¥13.07B | CN¥10.46B | CN¥9.67B | CN¥8.31B | CN¥11.27B |
| Research & development | CN¥3.79B | CN¥4.04B | CN¥3.97B | CN¥4.08B | CN¥3.50B | CN¥3.52B | CN¥3.40B | CN¥3.64B | CN¥2.99B | CN¥3.11B | CN¥2.92B | CN¥3.58B |
| Sales, general & admin | CN¥10.17B | CN¥4.87B | CN¥5.60B | CN¥5.32B | CN¥4.42B | CN¥4.04B | CN¥4.41B | CN¥4.43B | CN¥3.91B | CN¥3.24B | CN¥3.20B | CN¥3.79B |
| Total operating expenses | CN¥13.96B | CN¥8.88B | CN¥9.49B | CN¥9.40B | CN¥7.92B | CN¥7.56B | CN¥7.80B | CN¥8.07B | CN¥6.91B | CN¥6.35B | CN¥6.67B | CN¥7.36B |
| Operating income | −CN¥1.46B | CN¥3.92B | CN¥2.50B | CN¥5.57B | CN¥4.10B | CN¥3.56B | CN¥2.30B | CN¥5.01B | CN¥3.56B | CN¥3.31B | CN¥2.20B | CN¥3.91B |
| Interest income | CN¥562.0M | CN¥563.0M | CN¥679.0M | CN¥675.0M | CN¥609.0M | CN¥640.0M | CN¥517.0M | CN¥598.0M | CN¥634.0M | CN¥592.0M | CN¥593.0M | CN¥543.0M |
| Interest expense | CN¥117.0M | CN¥114.3M | CN¥113.4M | CN¥183.0M | CN¥265.0M | CN¥286.0M | CN¥323.0M | CN¥399.0M | CN¥514.0M | CN¥499.0M | CN¥497.0M | CN¥529.0M |
| Income before taxes | −CN¥1.65B | CN¥3.40B | CN¥5.04B | CN¥23.26B | CN¥5.88B | CN¥4.95B | CN¥2.72B | CN¥7.54B | CN¥4.58B | CN¥4.99B | CN¥1.74B | CN¥5.09B |
| Income taxes | CN¥799.0M | CN¥887.6M | CN¥823.5M | CN¥3.34B | CN¥998.0M | CN¥638.0M | CN¥526.0M | CN¥721.0M | CN¥693.0M | CN¥664.0M | CN¥399.0M | CN¥448.0M |
| Net income | −CN¥2.46B | CN¥2.48B | CN¥4.22B | CN¥19.89B | CN¥4.85B | CN¥4.28B | CN¥2.16B | CN¥6.76B | CN¥3.83B | CN¥4.31B | CN¥1.30B | CN¥4.62B |
| EBITDA | −CN¥2.10B | CN¥4.11B | CN¥2.71B | CN¥23.37B | CN¥6.35B | CN¥5.44B | CN¥2.50B | CN¥8.16B | CN¥5.30B | CN¥5.77B | CN¥2.42B | CN¥5.82B |
| Gross margin | 79.8% | 79.5% | 79.0% | 81.7% | 81.0% | 80.4% | 79.3% | 82.4% | 81.9% | 81.2% | 80.5% | 82.0% |
| Operating margin | −9.3% | 24.3% | 16.5% | 30.4% | 27.6% | 25.8% | 18.1% | 31.5% | 27.8% | 27.8% | 21.3% | 28.4% |
| Net margin | −15.7% | 15.4% | 27.8% | 108.5% | 32.6% | 30.9% | 16.9% | 42.6% | 30.0% | 36.2% | 12.6% | 33.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in TCOM's financial statements (latest annual report filed April 28, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TCOM financial results
In fiscal year 2025 (ended December 31, 2025), Trip.com reported revenue of CN¥60.7 billion, up 13.9% from the year before. It had net income of CN¥32.4 billion (up 89.8%), a net profit margin of 53.3%. Over five years revenue grew at an average rate of 27.1% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the TCOM stock overview for the latest quote and news, or the TCOM chart for price history and technical indicators.
TCOM income statement FAQ
What is Trip.com's annual revenue?
Trip.com reported total revenue of CN¥60.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 13.9% from CN¥53.3 billion the previous year.
Is Trip.com profitable?
Yes. Trip.com reported net income of CN¥32.4 billion in fiscal 2025, a net profit margin of 53.3%; its operating margin was 25.3%.
What is Trip.com's gross margin?
Trip.com's gross margin was 80.6% in fiscal 2025: for every $100 of revenue, Trip.com kept $81 after the direct cost of its products and services.
How much does Trip.com spend on research and development?
Trip.com spent CN¥14.7 billion on research and development in fiscal 2025, 24.3% of revenue.
How fast is Trip.com growing?
Revenue grew 27.1% a year on average over the last five fiscal years, from CN¥18.3 billion to CN¥60.7 billion.
When will Trip.com report its next earnings?
Trip.com is expected to report results for the quarter ending September 30, 2026 on November 16, 2026 after the market closes.
When does Trip.com's fiscal year end?
Trip.com's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 28, 2026.