Trip.com Group Limited (TCOM) — Research Brief (as of 2026-10-01)

Price/valuation context: Trading around $39.10 on September 30, 2026, with a market capitalization near $24.6B (figures range from ~$24.6B to ~$25.7B across providers, partly due to FX conversion and timing) [16], [18], [5]. The stock sits at the low end of its 52-week range ($38.04–$78.99), having fallen roughly 47.5% in 2026 after rising ~92.5% in 2024 and ~11% in 2025 [22], [18]. Note that financials are reported in RMB/CNY (e.g., Q2 revenue CNY 15,663 million) while many U.S. data vendors convert to USD, so raw numbers differ by source and currency [8], [18].