Trip Group Financials

TRPCF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Trip Group (TRPCF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Rhea AI TRPCF FY2024 2026-04-22

High-margin scale is now absorbing fixed operating costs, turning modest asset needs into large cash generation.

With gross margin still above 81% and R&D still at $1.8B, the profit lift is best read as fixed-cost absorption: more revenue is flowing through a cost structure that is not rising nearly as fast. That is why operating margin reached 26.6% while capex stayed just $81M, a combination that turns scale into cash with very little physical reinvestment.

Cash conversion was strong in FY2024: operating cash flow of $2.7B slightly exceeded net income of $2.3B, so reported profit was largely backed by cash rather than tied up elsewhere on the balance sheet. Because physical reinvestment is light, free cash flow still reached $2.6B after capex, showing that the main spending burden sits in operating expenses, not in building hard assets.

The balance-sheet posture is materially looser than in earlier periods: cash reached $6.6B while long-term debt was $2.8B. Liquidity widened as well, with the current ratio improving to 1.5x from roughly 1.0x, which means recent cash generation is strengthening day-to-day funding capacity instead of merely offsetting leverage.

Financial Health Signals

Financial Profile 69/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Trip Group'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.

Profitability

Trip Group has an operating margin of 25.3%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 79/100, reflecting efficient cost management and pricing power. This is down from 26.6% the prior year.

Growth

Trip Group's revenue surged 22.2% year-over-year to $8.9B, reflecting rapid business expansion. This strong growth earns a score of 66/100.

Leverage

100

Trip Group carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Trip Group's current ratio of 1.55 is below the typical benchmark, resulting in a score of 27/100. However, the company holds substantial cash reserves (51% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

100

Trip Group converts 21.8% of revenue into free cash flow ($1.9B). This strong cash generation earns a score of 100/100.

Returns

Trip Group's ROE of 19.5% shows moderate profitability relative to equity, earning a score of 44/100. This is up from 12.0% the prior year.

Piotroski F-Score Strong

7/9

Trip Group passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.43x

For every $1 of reported earnings, Trip Group generates $0.43 in operating cash flow ($2.1B OCF vs $4.8B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

18.7x

Trip Group earns $18.7 in operating income for every $1 of interest expense ($2.3B vs $121.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.9B

YoY+22.2%

5Y CAGR+26.0%

10Y CAGR+17.5%

Trip Group generated $8.9B in revenue in fiscal year 2025. This represents an increase of 22.2% from the prior year.

EBITDA

$2.4B

YoY+15.6%

10Y CAGR+37.4%

Trip Group's EBITDA was $2.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.6% from the prior year.

Net Income

$4.8B

YoY+103.7%

10Y CAGR+28.5%

Trip Group reported $4.8B in net income in fiscal year 2025. This represents an increase of 103.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$1.9B

YoY-25.5%

10Y CAGR+18.0%

Trip Group generated $1.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 25.5% from the prior year.

Cash & Debt

$5.7B

YoY-14.1%

5Y CAGR+15.5%

10Y CAGR+7.5%

Trip Group held $5.7B in cash against $1.6B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

650M

YoY-0.6%

Trip Group had 650M shares outstanding in fiscal year 2025. This represents a decrease of 0.6% from the prior year.

Margins & Returns

Gross Margin

80.6%

YoY-0.7pp

5Y CAGR+2.6pp

10Y CAGR+12.3pp

Trip Group's gross margin was 80.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.

Operating Margin

25.3%

YoY-1.3pp

5Y CAGR+33.1pp

10Y CAGR+22.0pp

Trip Group's operating margin was 25.3% in fiscal year 2025, reflecting core business profitability. This is down 1.3 percentage points from the prior year.

Net Margin

53.4%

YoY+21.3pp

5Y CAGR+71.1pp

10Y CAGR+31.6pp

Trip Group's net profit margin was 53.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 21.3 percentage points from the prior year.

Return on Equity

19.5%

YoY+7.5pp

5Y CAGR+22.7pp

10Y CAGR+13.9pp

Trip Group's ROE was 19.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$2.2B

YoY+20.2%

5Y CAGR+13.0%

10Y CAGR+15.6%

Trip Group invested $2.2B in research and development in fiscal year 2025. This represents an increase of 20.2% from the prior year.

Share Buybacks

$629.0M

YoY+111.1%

10Y CAGR+16.7%

Trip Group spent $629.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 111.1% from the prior year.

Capital Expenditures

$114.0M

YoY+40.7%

5Y CAGR+7.1%

10Y CAGR+1.5%

Trip Group invested $114.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 40.7% from the prior year.

TRPCF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$8.9B+22.2%	$7.3B+16.5%	$6.3B+115.7%	$2.9B-7.5%	$3.1B+11.9%	$2.8B
Cost of Revenue	$1.7B+26.7%	$1.4B+19.6%	$1.1B+74.9%	$654.0M-9.3%	$721.0M+16.7%	$618.0M
Gross Profit	$7.2B+21.2%	$5.9B+15.8%	$5.1B+127.5%	$2.3B-6.9%	$2.4B+10.6%	$2.2B
R&D Expenses	$2.2B+20.2%	$1.8B+5.4%	$1.7B+41.2%	$1.2B-14.3%	$1.4B+20.1%	$1.2B
SG&A Expenses	$640.0M+14.3%	$560.0M+6.3%	$527.0M+27.6%	$413.0M-10.0%	$459.0M-17.6%	$557.0M
Operating Income	$2.3B+16.2%	$1.9B+21.8%	$1.6B+10533.3%	$15.0M+106.8%	-$221.0M-1.4%	-$218.0M
Interest Expense	$121.0M-49.2%	$238.0M-18.2%	$291.0M+32.9%	$219.0M-11.0%	$246.0M-6.5%	$263.0M
Income Tax	$832.0M+133.1%	$357.0M+45.1%	$246.0M+148.5%	$99.0M+135.7%	$42.0M-22.2%	$54.0M
Net Income	$4.8B+103.7%	$2.3B+67.4%	$1.4B+578.2%	$206.0M+339.5%	-$86.0M+82.7%	-$497.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TRPCF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$38.2B+15.1%	$33.2B+7.7%	$30.9B+11.1%	$27.8B-7.7%	$30.1B+4.9%	$28.7B
Current Assets	$17.3B+12.7%	$15.4B+22.9%	$12.5B+40.3%	$8.9B-14.1%	$10.4B+16.7%	$8.9B
Cash & Equivalents	$5.7B-14.1%	$6.6B+13.3%	$5.9B+137.6%	$2.5B-20.7%	$3.1B+12.2%	$2.8B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.2B+27.7%	$1.7B+6.2%	$1.6B+102.1%	$795.0M+9.1%	$729.0M+15.5%	$631.0M
Goodwill	$8.9B+6.7%	$8.3B-0.2%	$8.4B-2.8%	$8.6B-7.6%	$9.3B+2.4%	$9.1B
Total Liabilities	$13.6B-0.2%	$13.6B+0.3%	$13.5B+18.7%	$11.4B-10.7%	$12.8B-2.7%	$13.1B
Current Liabilities	$11.2B+10.2%	$10.1B-0.6%	$10.2B+14.9%	$8.9B-14.6%	$10.4B+16.2%	$8.9B
Long-Term Debt	$1.6B-40.8%	$2.8B+2.5%	$2.7B+40.8%	$1.9B+9.8%	$1.7B-50.0%	$3.5B
Total Equity	$24.4B+25.7%	$19.4B+12.9%	$17.2B+5.7%	$16.3B-5.4%	$17.2B+11.9%	$15.4B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$38.2B+15.1%	$33.2B+7.7%	$30.9B+11.1%	$27.8B-7.7%	$30.1B+4.9%	$28.7B-0.2%	$28.8B+6.4%	$27.0B
Current Assets	$17.3B+12.7%	$15.4B+22.9%	$12.5B+40.3%	$8.9B-14.1%	$10.4B+16.7%	$8.9B-8.9%	$9.8B-15.5%	$11.5B
Cash & Equivalents	$5.7B-14.1%	$6.6B+13.3%	$5.9B+137.6%	$2.5B-20.7%	$3.1B+12.2%	$2.8B-3.1%	$2.9B-8.6%	$3.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.2B+27.7%	$1.7B+6.2%	$1.6B+102.1%	$795.0M+9.1%	$729.0M+15.5%	$631.0M-42.6%	$1.1B+33.5%	$824.0M
Goodwill	$8.9B+6.7%	$8.3B-0.2%	$8.4B-2.8%	$8.6B-7.6%	$9.3B+2.4%	$9.1B+8.6%	$8.4B-0.8%	$8.4B
Total Liabilities	$13.6B-0.2%	$13.6B+0.3%	$13.5B+18.7%	$11.4B-10.7%	$12.8B-2.7%	$13.1B-2.0%	$13.4B-5.1%	$14.1B
Current Liabilities	$11.2B+10.2%	$10.1B-0.6%	$10.2B+14.9%	$8.9B-14.6%	$10.4B+16.2%	$8.9B-10.0%	$9.9B-0.7%	$10.0B
Long-Term Debt	$1.6B-40.8%	$2.8B+2.5%	$2.7B+40.8%	$1.9B+9.8%	$1.7B-50.0%	$3.5B+24.1%	$2.8B-20.1%	$3.5B
Total Equity	$24.4B+25.7%	$19.4B+12.9%	$17.2B+5.7%	$16.3B-5.4%	$17.2B+11.9%	$15.4B+3.5%	$14.9B+17.8%	$12.6B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TRPCF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.1B-23.5%	$2.7B-13.1%	$3.1B+715.3%	$380.0M-2.1%	$388.0M+166.0%	-$588.0M
Capital Expenditures	$114.0M+40.7%	$81.0M-4.7%	$85.0M+18.1%	$72.0M-19.1%	$89.0M+9.9%	$81.0M
Free Cash Flow	$1.9B-25.5%	$2.6B-13.3%	$3.0B+878.2%	$308.0M+3.0%	$299.0M+144.7%	-$669.0M
Investing Cash Flow	-$598.0M+27.8%	-$828.0M-199.2%	$835.0M+409.1%	$164.0M+125.2%	-$651.0M-11.5%	-$584.0M
Financing Cash Flow	-$2.1B-127.8%	-$921.0M-155.8%	-$360.0M+63.1%	-$975.0M-258.5%	$615.0M-33.4%	$923.0M
Dividends Paid	$204.0M	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$629.0M+111.1%	$298.0M+30.7%	$228.0M	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TRPCF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	80.6%-0.7pp	81.3%-0.5pp	81.8%+4.2pp	77.5%+0.5pp	77.0%-0.9pp	78.0%
Operating Margin	25.3%-1.3pp	26.6%+1.2pp	25.4%+24.9pp	0.5%+7.5pp	-7.0%+0.7pp	-7.8%
Net Margin	53.4%+21.3pp	32.0%+9.7pp	22.3%+15.2pp	7.1%+9.8pp	-2.7%+15.0pp	-17.7%
Return on Equity	19.5%+7.5pp	12.0%+3.9pp	8.1%+6.8pp	1.3%+1.8pp	-0.5%+2.7pp	-3.2%
Return on Assets	12.4%+5.4pp	7.0%+2.5pp	4.5%+3.8pp	0.7%+1.0pp	-0.3%+1.4pp	-1.7%
Current Ratio	1.55+0.0	1.51+0.3	1.23+0.2	1.000.0	1.000.0	0.99
Debt-to-Equity	0.07-0.1	0.14-0.0	0.16+0.0	0.12+0.0	0.10-0.1	0.23
FCF Margin	21.8%-14.0pp	35.8%-12.3pp	48.1%+37.5pp	10.6%+1.1pp	9.5%+33.4pp	-23.8%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.55+0.0	1.51+0.3	1.23+0.2	1.000.0	1.000.0	0.99+0.0	0.98-0.2	1.15
Debt-to-Equity	0.07-0.1	0.14-0.0	0.16+0.0	0.12+0.0	0.10-0.1	0.23+0.0	0.19-0.1	0.28
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Trip Group's annual revenue?

Trip Group (TRPCF) reported $8.9B in total revenue for fiscal year 2025. This represents a 22.2% 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 Trip Group's revenue growing?

Trip Group (TRPCF) revenue grew by 22.2% year-over-year, from $7.3B to $8.9B in fiscal year 2025.

Is Trip Group profitable?

Yes, Trip Group (TRPCF) reported a net income of $4.8B in fiscal year 2025, with a net profit margin of 53.4%.

What is Trip Group's EBITDA?

Trip Group (TRPCF) had EBITDA of $2.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Trip Group have?

As of fiscal year 2025, Trip Group (TRPCF) had $5.7B in cash and equivalents against $1.6B in long-term debt.

What is Trip Group's gross margin?

Trip Group (TRPCF) had a gross margin of 80.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Trip Group's operating margin?

Trip Group (TRPCF) had an operating margin of 25.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Trip Group's net profit margin?

Trip Group (TRPCF) had a net profit margin of 53.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Trip Group's return on equity (ROE)?

Trip Group (TRPCF) has a return on equity of 19.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Trip Group's free cash flow?

Trip Group (TRPCF) generated $1.9B in free cash flow during fiscal year 2025. This represents a -25.5% 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 Trip Group's operating cash flow?

Trip Group (TRPCF) generated $2.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Trip Group's total assets?

Trip Group (TRPCF) had $38.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Trip Group's capital expenditures?

Trip Group (TRPCF) invested $114.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Trip Group spend on research and development?

Trip Group (TRPCF) invested $2.2B in research and development during fiscal year 2025.

Does Trip Group buy back shares?

Yes, Trip Group (TRPCF) spent $629.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Trip Group have outstanding?

Trip Group (TRPCF) had 650M shares outstanding as of fiscal year 2025.

What is Trip Group's current ratio?

Trip Group (TRPCF) had a current ratio of 1.55 as of fiscal year 2025, which is generally considered healthy.

What is Trip Group's debt-to-equity ratio?

Trip Group (TRPCF) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Trip Group's return on assets (ROA)?

Trip Group (TRPCF) had a return on assets of 12.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Trip Group's Piotroski F-Score?

Trip Group (TRPCF) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. 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 Trip Group's earnings high quality?

Trip Group (TRPCF) has an earnings quality ratio of 0.43x, considered low quality (accrual-driven). 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 Trip Group cover its interest payments?

Trip Group (TRPCF) has an interest coverage ratio of 18.7x, 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 Trip Group?

Trip Group (TRPCF) scores 69 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.