PerpEquities

Equity

Trip.com Group Limited (TCOM) perpetual futures

TCOM perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TCOMUSDT.

Trip.com Group Limited is a global travel service provider offering hotel and flight bookings, train, bus and ferry tickets, packaged tours, in-destination services, and corporate travel solutions under brands including Ctrip, Qunar, Trip.com and Skyscanner.

$38.56-2.6%NASDAQ open
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TradingView symbol NASDAQ:TCOM

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Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$340K
Open interest
-Coverage: 0/1 markets
Best liquidity
-
Tightest spread
+13.0 bps
BingX
Highest volume
$340K
BingX
Settlement mix
USDT · 1/1
Perp/spot vol.
0.00x
Spot volume $118.8M
OI / float
-
Float $22B
Spot performance
1D-2.58%
5D-4.77%
1M-3.33%
6M-26.31%
YTD-46.36%
1Y-46.70%

Venue matrix

1 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BingXTradeTCOM-USDTTrading$38.56+4.4% APR
+0.00400% every 8h
+13.0 bps-$340K-USDT-

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: BingX

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

-
No live data-

Tightest spread

TCOM

Highest volume

TCOM

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 3h ago
Market cap
$25.5B
Updated 3h ago
Revenue
$9.8B
Trailing 12 months
Revenue growth
+10%
Next fiscal year
Profit margin
+37.0%
P/E
6.9
Peer P/E 32.2
Free cash flow
$2B
Trailing 12 months
More metrics
Net income
$3.6B
Trailing 12 months
P/S
2.6
Peer P/E
32.2
Similar listed perps
Revenue estimate
$10B
Next fiscal year
Earnings
2026-11-16
Revenue est. $2.8B · Updated 3h ago
Dividend
$0.3
2025-03-17

Fundamental detail

Annual + quarterly
Latest revenue$9.1B
Net margin+53.3%
Free cash flow$2B
Net debt-$2.3B
2020$2.7B
2021$3B
2022$3B
2023$6.7B
2024$8B
2025$9.1B
PeriodRevenueGrowthNet incomeFCF
2020$2.7B-49%-$486M-$651.9M
2021$3B+9%-$82.3M$285M
2022$3B0%$210M$320.8M
2023$6.7B+122%$1.5B$3.2B
2024$8B+20%$2.6B$2.8B
2025$9.1B+14%$4.8B$2B
PeriodGross marginOperating marginNet marginROEROA
2020+78.0%-7.8%-17.7%-3.2%-1.7%
2021+77.0%-7.0%-2.7%-0.5%-0.3%
2022+77.5%+0.4%+7.0%+1.2%+0.7%
2023+81.8%+25.4%+22.3%+8.1%+4.5%
2024+81.3%+26.6%+32.0%+12.0%+7.0%
2025+80.6%+25.3%+53.3%+18.9%+12.1%
PeriodCashDebtNet debtCurrent ratio
2020$2.7B$8.6B$5.9B0.99
2021$3B$7.7B$4.8B1.00
2022$2.5B$7B$4.4B1.00
2023$6.2B$6.8B$595.9M1.23
2024$7.3B$6B-$1.2B1.51
2025$7B$4.7B-$2.3B1.55
PeriodMarket capEnterprise valueP/SP/E
2020$19.8B$25.7B7.2-40.8
2021$14.8B$19.6B4.9-179.8
2022$22.5B$27B7.5109.3
2023$25.7B$26.3B3.916.8
2024$49.1B$47.8B6.219.2
2025$49.5B$47.2B5.410.2
Q3 2024$2.4B
Q4 2024$1.9B
Q1 2025$2.1B
Q2 2025$2.2B
Q3 2025$2.7B
Q4 2025$2.3B
Q1 2026$2.4B
Q2 2026$2.3B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$2.4B+16%$1B$0
Q4 2024$1.9B+23%$322.9M$0
Q1 2025$2.1B+16%$640.2M$0
Q2 2025$2.2B+16%$725.4M$0
Q3 2025$2.7B+16%$3B$0
Q4 2025$2.3B+19%$632M$2B
Q1 2026$2.4B+16%$371.8M$0
Q2 2026$2.3B+6%-$367.9M$0
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+82.4%+31.5%+42.6%+4.9%+2.8%
Q4 2024+79.3%+18.1%+16.9%+1.5%+0.9%
Q1 2025+80.4%+25.8%+30.9%+2.9%+1.7%
Q2 2025+81.0%+27.6%+32.6%+3.3%+1.9%
Q3 2025+81.7%+30.4%+108.5%+11.8%+7.4%
Q4 2025+79.0%+16.5%+27.8%+2.5%+1.6%
Q1 2026+79.5%+24.3%+15.4%+1.5%+0.9%
Q2 2026+79.8%-9.3%-15.7%-1.5%-0.9%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$6.3B$6.9B$642.8M1.42
Q4 2024$7.3B$6B-$1.2B1.51
Q1 2025$8.4B$6.4B-$2B1.46
Q2 2025$8.7B$5.9B-$2.8B1.33
Q3 2025$8.9B$4.8B-$4.1B1.48
Q4 2025$7B$4.7B-$2.3B1.55
Q1 2026$8.5B$4.7B-$3.8B1.53
Q2 2026$8.4B$4B-$4.3B1.33
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$42.9B$43.6B18.110.5
Q4 2024$52.4B$51.1B27.438.2
Q1 2025$45.6B$43.6B22.017.8
Q2 2025$41.5B$38.7B18.714.3
Q3 2025$52.5B$48.4B19.14.4
Q4 2025$49.4B$47.1B21.719.6
Q1 2026$33.4B$29.5B13.822.3
Q2 2026$25.6B$21.2B10.9-17.4

Refreshed 3h ago

Charts: revenue, profit, cash flow & valuation
Revenue$2.3BQ2 2026
$686.2M$1.4B$2.1B$2.7BQ3 2023: $2.1BQ4 2023: $1.5BQ1 2024: $1.8BQ2 2024: $1.9BQ3 2024: $2.4BQ4 2024: $1.9BQ1 2025: $2.1BQ2 2025: $2.2BQ3 2025: $2.7BQ4 2025: $2.3BQ1 2026: $2.4BQ2 2026: $2.3BQ3 2023Q2 2026
Net income-$367.9MQ2 2026
$468.4M$1.3B$2.1B$3BQ3 2023: $690.8MQ4 2023: $194.1MQ1 2024: $645.5MQ2 2024: $573.8MQ3 2024: $1BQ4 2024: $322.9MQ1 2025: $640.2MQ2 2025: $725.4MQ3 2025: $3BQ4 2025: $632MQ1 2026: $371.8MQ2 2026: -$367.9MQ3 2023Q2 2026
EBITDA-$314.2MQ2 2026
$639M$1.6B$2.5B$3.5BQ3 2023: $871.2MQ4 2023: $366.1MQ1 2024: $863.1MQ2 2024: $793.6MQ3 2024: $1.2BQ4 2024: $488.2MQ1 2025: $814.5MQ2 2025: $951.2MQ3 2025: $3.5BQ4 2025: $803.6MQ1 2026: $615.9MQ2 2026: -$314.2MQ3 2023Q2 2026
Free cash flow$0Q2 2026
$508.3M$1B$1.5B$2BQ3 2023: $8.4MQ4 2023: $0Q1 2024: $303.3MQ2 2024: $0Q3 2024: $0Q4 2024: $0Q1 2025: $0Q2 2025: $0Q3 2025: $0Q4 2025: $2BQ1 2026: $0Q2 2026: $0Q3 2023Q2 2026
EPS-$0.58Q2 2026
$0.63$1.85$3.07$4.28Q3 2023: $1.02Q4 2023: $0.29Q1 2024: $0.96Q2 2024: $0.83Q3 2024: $1.49Q4 2024: $0.46Q1 2025: $0.91Q2 2025: $1.04Q3 2025: $4.28Q4 2025: $0.9Q1 2026: $0.55Q2 2026: -$0.58Q3 2023Q2 2026
Cash / Debt$8.4BQ2 2026
$2.2B$4.5B$6.7B$9BQ3 2023 · Cash: $5.7BQ3 2023 · Debt: $7.6BQ4 2023 · Cash: $6.2BQ4 2023 · Debt: $6.8BQ1 2024 · Cash: $6.3BQ1 2024 · Debt: $7.2BQ2 2024 · Cash: $7.7BQ2 2024 · Debt: $9BQ3 2024 · Cash: $6.3BQ3 2024 · Debt: $6.9BQ4 2024 · Cash: $7.3BQ4 2024 · Debt: $6BQ1 2025 · Cash: $8.4BQ1 2025 · Debt: $6.4BQ2 2025 · Cash: $8.7BQ2 2025 · Debt: $5.9BQ3 2025 · Cash: $8.9BQ3 2025 · Debt: $4.8BQ4 2025 · Cash: $7BQ4 2025 · Debt: $4.7BQ1 2026 · Cash: $8.5BQ1 2026 · Debt: $4.7BQ2 2026 · Cash: $8.4BQ2 2026 · Debt: $4BQ3 2023Q2 2026
CashDebt
Profitability+79.8%Q2 2026
+15.3%+46.4%+77.4%+108.5%Q3 2023 · Gross margin: +82.0%Q4 2023 · Gross margin: +80.5%Q1 2024 · Gross margin: +81.2%Q2 2024 · Gross margin: +81.9%Q3 2024 · Gross margin: +82.4%Q4 2024 · Gross margin: +79.3%Q1 2025 · Gross margin: +80.4%Q2 2025 · Gross margin: +81.0%Q3 2025 · Gross margin: +81.7%Q4 2025 · Gross margin: +79.0%Q1 2026 · Gross margin: +79.5%Q2 2026 · Gross margin: +79.8%Q3 2023 · Operating margin: +28.4%Q4 2023 · Operating margin: +21.3%Q1 2024 · Operating margin: +27.8%Q2 2024 · Operating margin: +27.8%Q3 2024 · Operating margin: +31.5%Q4 2024 · Operating margin: +18.1%Q1 2025 · Operating margin: +25.8%Q2 2025 · Operating margin: +27.6%Q3 2025 · Operating margin: +30.4%Q4 2025 · Operating margin: +16.5%Q1 2026 · Operating margin: +24.3%Q2 2026 · Operating margin: -9.3%Q3 2023 · Net margin: +33.6%Q4 2023 · Net margin: +12.6%Q1 2024 · Net margin: +36.2%Q2 2024 · Net margin: +30.0%Q3 2024 · Net margin: +42.6%Q4 2024 · Net margin: +16.9%Q1 2025 · Net margin: +30.9%Q2 2025 · Net margin: +32.6%Q3 2025 · Net margin: +108.5%Q4 2025 · Net margin: +27.8%Q1 2026 · Net margin: +15.4%Q2 2026 · Net margin: -15.7%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+5.5%Q2 2026
+5.9%+11.7%+17.6%+23.4%Q2 2024: +14.3%Q3 2024: +15.5%Q4 2024: +23.4%Q1 2025: +16.2%Q2 2025: +16.2%Q3 2025: +15.5%Q4 2025: +19.2%Q1 2026: +16.5%Q2 2026: +5.5%Q3 2023Q2 2026
Shares outstanding632.3MQ2 2026
175.5M351.1M526.6M702.1MQ3 2023: 674.1MQ4 2023: 668.3MQ1 2024: 675.9MQ2 2024: 688MQ3 2024: 688MQ4 2024: 698.2MQ1 2025: 702.1MQ2 2025: 695.7MQ3 2025: 695MQ4 2025: 700.5MQ1 2026: 681.7MQ2 2026: 632.3MQ3 2023Q2 2026
Valuation-17.4Q2 2026
-3.510.424.338.2Q3 2023 · P/E: 9.1Q4 2023 · P/E: 32.9Q1 2024 · P/E: 12.8Q2 2024 · P/E: 14.8Q3 2024 · P/E: 10.5Q4 2024 · P/E: 38.2Q1 2025 · P/E: 17.8Q2 2025 · P/E: 14.3Q3 2025 · P/E: 4.4Q4 2025 · P/E: 19.6Q1 2026 · P/E: 22.3Q2 2026 · P/E: -17.4Q3 2023 · P/S: 12.2Q4 2023 · P/S: 16.5Q1 2024 · P/S: 18.6Q2 2024 · P/S: 17.7Q3 2024 · P/S: 18.1Q4 2024 · P/S: 27.4Q1 2025 · P/S: 22.0Q2 2025 · P/S: 18.7Q3 2025 · P/S: 19.1Q4 2025 · P/S: 21.7Q1 2026 · P/S: 13.8Q2 2026 · P/S: 10.9Q3 2023Q2 2026
P/EP/S
Revenue$9.1B2025
$2.3B$4.5B$6.8B$9.1B2018: $4.6B2019: $5.3B2020: $2.7B2021: $3B2022: $3B2023: $6.7B2024: $8B2025: $9.1B20182025
Net income$4.8B2025
$847.5M$2.2B$3.5B$4.8B2018: $166.5M2019: $1B2020: -$486M2021: -$82.3M2022: $210M2023: $1.5B2024: $2.6B2025: $4.8B20182025
EBITDA$6B2025
$1.5B$3B$4.5B$6B2018: $536.9M2019: $971.5M2020: $21.4M2021: $389.6M2022: $726.6M2023: $2.2B2024: $3.4B2025: $6B20182025
Free cash flow$2B2025
$311.8M$1.3B$2.2B$3.2B2018: $959.1M2019: $972.8M2020: -$651.9M2021: $285M2022: $320.8M2023: $3.2B2024: $2.8B2025: $2B20182025
EPS$6.942025
$1.13$3.07$5$6.942018: $0.292019: $1.632020: -$0.812021: -$0.132022: $0.322023: $2.212024: $3.712025: $6.9420182025
Cash / Debt$7B2025
$2.3B$4.5B$6.8B$9B2018 · Cash: $3.2B2018 · Debt: $9B2019 · Cash: $3B2019 · Debt: $7.7B2020 · Cash: $2.7B2020 · Debt: $8.6B2021 · Cash: $3B2021 · Debt: $7.7B2022 · Cash: $2.5B2022 · Debt: $7B2023 · Cash: $6.2B2023 · Debt: $6.8B2024 · Cash: $7.3B2024 · Debt: $6B2025 · Cash: $7B2025 · Debt: $4.7B20182025
CashDebt
Profitability+80.6%2025
+7.1%+32.0%+56.9%+81.8%2018 · Gross margin: +79.6%2019 · Gross margin: +79.3%2020 · Gross margin: +78.0%2021 · Gross margin: +77.0%2022 · Gross margin: +77.5%2023 · Gross margin: +81.8%2024 · Gross margin: +81.3%2025 · Gross margin: +80.6%2018 · Operating margin: +8.4%2019 · Operating margin: +14.1%2020 · Operating margin: -7.8%2021 · Operating margin: -7.0%2022 · Operating margin: +0.4%2023 · Operating margin: +25.4%2024 · Operating margin: +26.6%2025 · Operating margin: +25.3%2018 · Net margin: +3.6%2019 · Net margin: +19.7%2020 · Net margin: -17.7%2021 · Net margin: -2.7%2022 · Net margin: +7.0%2023 · Net margin: +22.3%2024 · Net margin: +32.0%2025 · Net margin: +53.3%20182025
Gross marginOperating marginNet margin
Revenue growth+13.9%2025
-6.0%+36.7%+79.4%+122.1%2019: +15.2%2020: -48.6%2021: +9.3%2022: +0.1%2023: +122.1%2024: +19.7%2025: +13.9%20182025
Shares outstanding698.4M2025
174.6M349.2M523.8M698.4M2018: 567.4M2019: 642M2020: 600.9M2021: 634.1M2022: 634.1M2023: 671.1M2024: 688.7M2025: 698.4M20182025
Valuation10.22025
-107.5-35.237.1109.32018 · P/E: 91.62019 · P/E: 18.92020 · P/E: -40.82021 · P/E: -179.82022 · P/E: 109.32023 · P/E: 16.82024 · P/E: 19.22025 · P/E: 10.22018 · P/S: 3.32019 · P/S: 4.22020 · P/S: 7.22021 · P/S: 4.92022 · P/S: 7.52023 · P/S: 3.92024 · P/S: 6.22025 · P/S: 5.420182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-16
Revenue est. $2.8B · Updated 3h ago
Dividend
$0.3
2025-03-17

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20263.57$10B+10%12
FY 20274.05$10.9B+20%12
FY 20284.55$12B+33%10
FY 20293.58$14.3B+58%4
Q1 20270.94$2.6B+8%2
Q1 20276.80$2.6B+10%2

Company events

6
2026-11-16EarningsActual - / Estimate 1.18-
2026-09-15EarningsActual 1.07 / Estimate 0.88Beat
2026-08-26EarningsActual 1.07 / Estimate 0.88Beat
2026-06-24EarningsActual 0.83 / Estimate 0.85Miss
2026-02-25EarningsActual 0.71 / Estimate 0.72Miss
2025-11-17EarningsActual 3.87 / Estimate 1.15Beat

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering TCOM have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings48201
Analysts1928
Buy / hold / sell45 / 3 / 0193 / 8 / 0
Upgrades / downgrades / initiations1 / 3 / 03 / 6 / 1
Price targets hit / missed0 / 48 (0%)0 / 197 (0%)
Avg. return after a rating (TipRanks)-40.1%-39.2%
Best / worst call-5.0% / -55.7%-2.7% / -55.7%

After buy calls on this stock: median 21-day move +0.8% vs S&P 500 -1.0% (n = 209)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Brian GongCiti100% hit rate on this stock · 16 targets measuredBuytarget $62.00Jul 29, 2026
  2. James LeeMizuho Securities89% hit rate on this stock · 9 targets measuredBuytarget $60.00Sep 16, 2026
  3. Joyce JuBank of America Securities75% hit rate on this stock · 8 targets measuredBuytarget $60.00Sep 17, 2026

Latest ratings

DateAnalystCallTarget
Sep 17, 2026Alex YaoJ.P. MorganBuyMaintained$62.00
Sep 17, 2026Alex YaoJ.P. MorganBuyMaintained$62.00
Sep 17, 2026Saiyi HeCMB International SecuritiesBuyMaintained$64.60
Sep 16, 2026Thomas ChongJefferiesBuyMaintained$64.00
Sep 17, 2026Ellie JiangMacquarieBuyUpgraded$53.20
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$40.00$50.00$60.00$70.00$80.00Nov 25 · Buy 12 · Hold 0 · Sell 0Nov 25Dec 25 · Buy 12 · Hold 0 · Sell 0Jan 26 · Buy 12 · Hold 0 · Sell 0Jan 26Feb 26 · Buy 12 · Hold 0 · Sell 0Mar 26 · Buy 12 · Hold 0 · Sell 0Mar 26Apr 26 · Buy 11 · Hold 0 · Sell 0May 26 · Buy 9 · Hold 0 · Sell 0May 26Jun 26 · Buy 14 · Hold 1 · Sell 0Jul 26 · Buy 14 · Hold 2 · Sell 0Jul 26Aug 26 · Buy 13 · Hold 2 · Sell 0Sep 26 · Buy 16 · Hold 2 · Sell 0Sep 26Oct 26 · Buy 16 · Hold 2 · Sell 0Nov 25 · avg. target $84.67Dec 25 · avg. target $84.67Jan 26 · avg. target $84.92Feb 26 · avg. target $80.42Mar 26 · avg. target $79.50Apr 26 · avg. target $79.00May 26 · avg. target $77.89Jun 26 · avg. target $66.33Jul 26 · avg. target $64.24Aug 26 · avg. target $63.53Sep 26 · avg. target $59.71Oct 26 · avg. target $59.71Nov 25 · month-end close $69.92Dec 25 · month-end close $71.91Jan 26 · month-end close $61.37Feb 26 · month-end close $52.62Mar 26 · month-end close $49.79Apr 26 · month-end close $54.21May 26 · month-end close $47.43Jun 26 · month-end close $39.84Jul 26 · month-end close $47.01Aug 26 · month-end close $44.65Sep 26 · month-end close $39.10Oct 26 · month-end close $39.78

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 27, 2026 · 48 ratings

Frequently asked questions

Where can I trade TCOM perpetual futures?

Trip.com Group Limited (TCOM) perpetual futures trade on 1 crypto venues, including BingX. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade TCOM around the clock?

Yes. Unlike the underlying stock, TCOM perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on TCOM perpetuals?

Right now the TCOM perp funding rate is +4.4% annualized (venue median), ranging from +4.4% to +4.4% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the TCOM perp price compare to the Trip.com Group Limited stock?

The venue-median TCOM perp mark is $38.6 versus a reference stock price of $38.6, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a TCOM perpetual future?

A TCOM perpetual is a derivative that tracks the price of Trip.com Group Limited with no expiry date. It lets you take long or short exposure to Trip.com Group Limited on crypto venues, around the clock.

What is TCOMUSDT perpetual?

TCOMUSDT is the symbol most crypto exchanges use for the Trip.com Group Limited perpetual settled in USDT (Tether). It tracks the TCOM share price through an index, trades 24/7 with leverage and never expires.

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