Trip.com Group Limited (TCOM) Stock Rating & Analysis

Trip.com is the largest online travel agent in China and is positioned to benefit from rising demand for higher-margin outbound travel, as passport penetration in China is only 12%. It generated about 79% of 2024 sales from accommodation reservations and transportation ticketing, with the remainder from package tours and corporate travel; in 2019, before the pandemic, international travel accounted for 25% of revenue, which is important to its margin expansion.