Tuniu Financials
Tuniu (TOUR) reported $82.6M in revenue for fiscal year 2025, up 17.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 exposed a cash-conversion break: higher sales arrived with thinner margins and a much smaller cash cushion.
In FY2025, operating cash flow swung from$13.2M to-$15.6M even though net income stayed positive. At the same time, gross margin fell from69.7% to58.0% , suggesting the extra volume came from less profitable activity and absorbed cash rather than releasing it.
Cash fell to
The company still kept SG&A discipline, which helped preserve a small operating profit after margins compressed. But buybacks and dividends distributed
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Tuniu's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Tuniu, and counted as zero in the overall score.
Tuniu scores -6.05, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($53.2M) relative to total liabilities ($91.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Tuniu passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Tuniu used $3.50 of operating cash (-$15.6M OCF vs $4.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Tuniu earns $5.56 in operating income for every $1 of interest expense ($1.6M vs $289K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Tuniu generated $82.6M in revenue in fiscal year 2025. This represents an increase of 17.5% from the prior year.
Tuniu's EBITDA was $2.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 75.6% from the prior year.
Tuniu reported $4.5M in net income in fiscal year 2025. This represents a decrease of 57.9% from the prior year.
Tuniu earned $0.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 66.7% from the prior year.
Cash & Balance Sheet
Tuniu recorded an outflow of $16.6M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 243.6% from the prior year.
Tuniu held $29.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Tuniu's gross margin was 58.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 11.8 percentage points from the prior year.
Tuniu's operating margin was 1.9% in fiscal year 2025, reflecting core business profitability. This is down 10.4 percentage points from the prior year.
Tuniu's net profit margin was 5.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 9.6 percentage points from the prior year.
Tuniu's ROE was 3.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the prior year.
Capital Allocation
Tuniu invested $8.4M in research and development in fiscal year 2025. This represents an increase of 16.9% from the prior year.
Tuniu spent $7.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 19.1% from the prior year.
Tuniu invested $1.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 37.1% from the prior year.
TOUR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82.6M+17.5% | $70.4M+13.2% | $62.2M+133.4% | $26.6M-60.2% | $66.9M-3.0% | $69.0M-78.9% | $327.6M+0.6% | $325.8M-3.3% | $336.9M-77.8% | $1.5B+28.7% | $1.2B+107.2% | $569.7M |
| Cost of Revenue | $34.7M+63.0% | $21.3M+2.5% | $20.8M+52.4% | $13.6M-65.9% | $40.0M+10.1% | $36.3M-78.9% | $172.4M+11.3% | $154.9M | N/A | N/A | N/A | N/A |
| Gross Profit | $47.9M-2.3% | $49.0M+18.6% | $41.4M+218.6% | $13.0M-51.8% | $26.9M-17.6% | $32.7M-79.0% | $155.3M-9.2% | $170.9M-4.8% | $179.5M+98.8% | $90.3M+57.8% | $57.2M+57.0% | $36.4M |
| R&D Expenses | $8.4M+16.9% | $7.2M-10.1% | $8.0M+9.0% | $7.4M-14.1% | $8.6M-44.4% | $15.4M-64.7% | $43.6M-4.9% | $45.8M-44.9% | $83.2M-4.0% | $86.6M+88.2% | $46.0M+172.3% | $16.9M |
| SG&A Expenses | $10.3M-14.4% | $12.0M-24.7% | $15.9M+1.0% | $15.8M-42.2% | $27.3M-83.9% | $170.0M+57.9% | $107.6M+51.9% | $70.9M-27.7% | $98.0M+3.3% | $94.9M+59.5% | $59.5M+121.1% | $26.9M |
| Operating Income | $1.6M-81.5% | $8.7M+160.4% | -$14.3M+52.9% | -$30.5M-7.0% | -$28.5M+86.1% | -$205.5M-64.3% | -$125.1M-146.4% | -$50.8M+62.6% | -$135.8M+62.6% | -$362.9M-61.5% | -$224.6M-194.6% | -$76.2M |
| Interest Expense | $289K-36.5% | $455K-8.3% | $496K-30.3% | $712K-39.5% | $1.2M-76.2% | $4.9M+1.1% | $4.9M | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $204K+77.4% | $115K-43.3% | $203K+291.5% | -$106K-630.0% | $20K+102.0% | -$1.0M-848.5% | $136K+518.2% | $22K-99.1% | $2.4M+1076.4% | -$246K-170.3% | -$91K | N/A |
| Net Income | $4.5M-57.9% | $10.6M+175.6% | -$14.0M+50.1% | -$28.0M-47.0% | -$19.1M+90.5% | -$200.5M-100.9% | -$99.8M-269.8% | -$27.0M+77.1% | -$117.9M+66.3% | -$349.6M-55.2% | -$225.3M-212.1% | -$72.2M |
| EPS (Diluted) | $0.01-66.7% | $0.03+175.0% | -$0.04+50.0% | -$0.08-60.0% | -$0.05 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TOUR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $228.8M-12.5% | $261.6M-5.3% | $276.1M+1.4% | $272.3M-24.5% | $360.6M-26.4% | $489.9M-48.3% | $947.5M-0.6% | $953.7M-6.8% | $1.0B-22.4% | $1.3B+18.9% | $1.1B+160.2% | $426.3M |
| Current Assets | $185.4M+12.5% | $164.9M-22.4% | $212.4M+22.1% | $174.0M-24.9% | $231.5M-33.9% | $350.1M-36.2% | $549.2M-14.3% | $641.1M-18.0% | $782.2M-27.6% | $1.1B+26.4% | $855.1M+107.7% | $411.7M |
| Cash & Equivalents | $29.6M-53.5% | $63.7M+19.3% | $53.4M+139.3% | $22.3M-59.3% | $54.8M+67.4% | $32.7M-22.9% | $42.4M-47.9% | $81.5M+9.5% | $74.4M-55.4% | $166.8M-44.9% | $302.6M+1108.9% | $25.0M |
| Accounts Receivable | $9.6M+61.1% | $5.9M+1.2% | $5.9M+20.2% | $4.9M-72.2% | $17.6M-56.6% | $40.5M-46.8% | $76.1M+50.6% | $50.5M+14.7% | $44.1M+38.8% | $31.7M+81.5% | $17.5M+1154.8% | $1.4M |
| Goodwill | N/A | N/A | $0-100.0% | $16.1M-52.0% | $33.6M-7.6% | $36.4M+2.4% | $35.6M+55.3% | $22.9M+6.6% | $21.5M-5.4% | $22.7M+15.4% | $19.7M | N/A |
| Total Liabilities | $91.8M-25.6% | $123.4M-10.7% | $138.1M+16.2% | $118.8M-27.5% | $163.9M-41.2% | $278.8M-49.5% | $552.7M+20.9% | $457.1M+0.4% | $455.5M-31.0% | $660.2M+11.1% | $594.1M+198.2% | $199.3M |
| Current Liabilities | $91.0M-25.7% | $122.4M-9.3% | $135.1M+20.3% | $112.3M-26.9% | $153.6M-42.5% | $267.4M-50.3% | $538.5M+19.3% | $451.3M+0.5% | $449.0M-31.2% | $652.3M+11.5% | $585.2M+199.1% | $195.7M |
| Long-Term Debt | N/A | N/A | $1.5M-15.6% | $1.7M-23.0% | $2.3M-34.9% | $3.5M+148.6% | $1.4M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $147.3M-0.5% | $148.0M+2.0% | $145.2M-9.6% | $160.6M-19.3% | $199.2M-6.2% | $212.2M-45.5% | $389.4M-20.1% | $487.3M-11.8% | $552.6M-14.4% | $645.5M+25.9% | $512.7M+125.8% | $227.0M |
| Retained Earnings | -$1.2B-7.8% | -$1.1B+3.7% | -$1.1B+1.7% | -$1.2B+5.3% | -$1.2B-4.0% | -$1.2B-28.9% | -$917.3M-10.8% | -$827.8M+2.2% | -$846.2M-23.6% | -$684.9M-90.6% | -$359.4M-156.6% | -$140.1M |
Not reported in any period shown, so not listed: Inventory.
TOUR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.6M-218.3% | $13.2M-59.8% | $32.8M+258.2% | -$20.7M+41.6% | -$35.5M+82.4% | -$201.2M-1063.1% | -$17.3M-144.4% | $39.0M+160.6% | -$64.3M+80.1% | -$322.6M-305.9% | -$79.5M-81.9% | -$43.7M |
| Capital Expenditures | $1.0M-37.1% | $1.6M+17.3% | $1.4M+47.5% | $935K-59.6% | $2.3M-46.7% | $4.3M-75.3% | $17.6M+1.3% | $17.4M-29.6% | $24.7M+45.3% | $17.0M-29.3% | $24.0M+194.2% | $8.2M |
| Free Cash Flow | -$16.6M-243.6% | $11.6M-63.2% | $31.4M+245.0% | -$21.7M+42.7% | -$37.8M+81.6% | -$205.6M-489.1% | -$34.9M-261.4% | $21.6M+124.3% | -$89.0M+73.8% | -$339.5M-228.2% | -$103.5M-99.5% | -$51.9M |
| Investing Cash Flow | $698K-80.9% | $3.7M-36.6% | $5.8M+176.7% | -$7.5M-106.8% | $110.4M-37.8% | $177.6M+313.9% | -$83.0M-470.8% | $22.4M-77.5% | $99.6M | N/A | N/A | N/A |
| Financing Cash Flow | -$22.9M-125.9% | -$10.1M-218.6% | -$3.2M-4444.3% | -$70K+99.9% | -$54.1M-68.4% | -$32.1M-146.1% | $69.7M+429.9% | -$21.1M+82.5% | -$120.6M | N/A | N/A | $248.3M |
| Dividends Paid | $4.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $7.3M+19.1% | $6.2M | N/A | N/A | N/A | $47K-97.6% | $1.9M-90.4% | $20.2M-20.8% | $25.5M+799.5% | $2.8M | N/A | N/A |
TOUR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.0%-11.8pp | 69.7%+3.2pp | 66.6%+17.8pp | 48.8%+8.5pp | 40.2%-7.1pp | 47.3%0.0pp | 47.4%-5.1pp | 52.5%-0.8pp | 53.3%+47.3pp | 5.9%+1.1pp | 4.9%-1.6pp | 6.4% |
| Operating Margin | 1.9%-10.4pp | 12.3%+35.4pp | -23.1% | -114.5% | -42.6% | -297.8% | -38.2%-22.6pp | -15.6%+24.7pp | -40.3%-16.4pp | -23.9%-4.9pp | -19.0%-5.6pp | -13.4% |
| Net Margin | 5.4%-9.6pp | 15.0%+37.5pp | -22.5% | -105.3% | -28.5% | -290.5% | -30.4%-22.2pp | -8.3%+26.7pp | -35.0%-12.0pp | -23.0%-3.9pp | -19.1%-6.4pp | -12.7% |
| Return on Equity | 3.0%-4.1pp | 7.1%+16.8pp | -9.6%+7.8pp | -17.4%-7.9pp | -9.6%+84.9pp | -94.5%-68.8pp | -25.6%-20.1pp | -5.5%+15.8pp | -21.3%+32.8pp | -54.1%-10.2pp | -43.9%-12.2pp | -31.8% |
| Return on Assets | 1.9%-2.1pp | 4.0%+9.1pp | -5.1%+5.2pp | -10.3%-5.0pp | -5.3%+35.6pp | -40.9%-30.4pp | -10.5%-7.7pp | -2.8%+8.7pp | -11.5%+15.0pp | -26.5%-6.2pp | -20.3%-3.4pp | -16.9% |
| Current Ratio | 2.04+0.7x | 1.35-0.2x | 1.570.0x | 1.550.0x | 1.51+0.2x | 1.31+0.3x | 1.02-0.4x | 1.42-0.3x | 1.74+0.1x | 1.66+0.2x | 1.46-0.6x | 2.10 |
| Debt-to-Equity | 0.62-0.2x | 0.83+0.8x | 0.010.0x | 0.010.0x | 0.010.0x | 0.020.0x | 0.00-0.9x | 0.94+0.1x | 0.82-0.2x | 1.02-0.1x | 1.16+0.3x | 0.88 |
| FCF Margin | -20.1%-36.5pp | 16.4%-34.1pp | 50.5%+131.9pp | -81.4%-24.8pp | -56.5% | -297.9% | -10.7%-17.3pp | 6.6%+33.1pp | -26.4%-4.1pp | -22.4%-13.6pp | -8.8%+0.3pp | -9.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Tuniu Ranks
Frequently Asked Questions
What is Tuniu's annual revenue?
Tuniu (TOUR) reported $82.6M in total revenue for fiscal year 2025. This represents a 17.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Tuniu's revenue growing?
Tuniu (TOUR) revenue grew by 17.5% year-over-year, from $70.4M to $82.6M in fiscal year 2025.
Is Tuniu profitable?
Yes, Tuniu (TOUR) reported a net income of $4.5M in fiscal year 2025, with a net profit margin of 5.4%.
What is Tuniu's EBITDA?
Tuniu (TOUR) had EBITDA of $2.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tuniu's gross margin?
Tuniu (TOUR) had a gross margin of 58.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Tuniu's operating margin?
Tuniu (TOUR) had an operating margin of 1.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Tuniu's net profit margin?
Tuniu (TOUR) had a net profit margin of 5.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Tuniu's return on equity (ROE)?
Tuniu (TOUR) has a return on equity of 3.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tuniu's free cash flow?
Tuniu (TOUR) recorded an outflow of $16.6M in free cash flow during fiscal year 2025. This represents a -243.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Tuniu's operating cash flow?
Tuniu (TOUR) recorded an outflow of $15.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Tuniu's total assets?
Tuniu (TOUR) had $228.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tuniu's capital expenditures?
Tuniu (TOUR) invested $1.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tuniu spend on research and development?
Tuniu (TOUR) invested $8.4M in research and development during fiscal year 2025.
What is Tuniu's current ratio?
Tuniu (TOUR) had a current ratio of 2.04 as of fiscal year 2025, which is generally considered healthy.
What is Tuniu's debt-to-equity ratio?
Tuniu (TOUR) had a debt-to-equity ratio of 0.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tuniu's return on assets (ROA)?
Tuniu (TOUR) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tuniu's cash runway?
Based on fiscal year 2025 data, Tuniu (TOUR) had $29.6M in cash against an annual operating cash burn of $15.6M. This gives an estimated cash runway of approximately 23 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Tuniu's Altman Z-Score?
Tuniu (TOUR) has an Altman Z-Score of -6.05, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Tuniu's Piotroski F-Score?
Tuniu (TOUR) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Tuniu's earnings high quality?
For every $1 of reported earnings, Tuniu (TOUR) used $3.50 of operating cash (-$15.6M OCF vs $4.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Tuniu cover its interest payments?
Tuniu (TOUR) has an interest coverage ratio of 5.56x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Tuniu?
Tuniu (TOUR) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.