Tongcheng Travel Holdings Ltd
HKEX:780
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EV/EBITDA
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Valuation Scenarios
If EV/EBITDA returns to its 3-Year Average (12.6), the stock would be worth HK$28.41 (50% upside from current price).
| Scenario | EV/EBITDA Value | Implied Price | Upside/Downside |
|---|---|---|---|
| Current Multiple | 8.4 | HK$18.9 |
0%
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| 3-Year Average | 12.6 | HK$28.41 |
+50%
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| 5-Year Average | 16.3 | HK$36.79 |
+95%
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| Industry Average | 15.4 | HK$34.7 |
+84%
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| Country Average | 28.8 | HK$65.14 |
+245%
|
Forward EV/EBITDA
Today’s price vs future ebitda
| Today's Enterprise Value | EBITDA | Forward EV/EBITDA | ||
|---|---|---|---|---|
|
HK$33.6B
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/ |
Jan 2026
¥3.4B
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= |
|
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HK$33.6B
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/ |
Dec 2026
¥5.6B
|
= |
|
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HK$33.6B
|
/ |
Dec 2027
¥6.3B
|
= |
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HK$33.6B
|
/ |
Dec 2028
¥6.8B
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= |
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Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.
Peer Comparison
| Market Cap | EV/EBITDA | P/E | ||||
|---|---|---|---|---|---|---|
| CN |
|
Tongcheng Travel Holdings Ltd
HKEX:780
|
44.4B HKD | 8.4 | 16.3 | |
| CN |
H
|
H World Group Ltd
BMV:HTHTN
|
2.7T MXN | 128.5 | 206.7 | |
| US |
|
Booking Holdings Inc
NASDAQ:BKNG
|
143B USD | 14.1 | 26.5 | |
| US |
|
Marriott International Inc
NASDAQ:MAR
|
97.6B USD | 23.4 | 37.5 | |
| US |
|
Airbnb Inc
NASDAQ:ABNB
|
88.1B USD | 29.6 | 35.1 | |
| US |
|
Hilton Worldwide Holdings Inc
NYSE:HLT
|
76.9B USD | 30.8 | 52.8 | |
| US |
|
Royal Caribbean Cruises Ltd
NYSE:RCL
|
71.8B USD | 13.4 | 16.8 | |
| US |
|
Carnival Corp
NYSE:CCL
|
37.3B USD | 8.1 | 12 | |
| US |
V
|
Viking Holdings Ltd
NYSE:VIK
|
35.7B USD | 0 | 0 | |
| UK |
|
Carnival PLC
LSE:CCL
|
26.5B GBP | 7.8 | 12.7 | |
| CN |
|
Trip.com Group Ltd
HKEX:9961
|
276.3B HKD | 10.4 | 7.3 |
Market Distribution
| Min | 0 |
| 30th Percentile | 16.3 |
| Median | 28.8 |
| 70th Percentile | 53.1 |
| Max | 49 021 |
Other Multiples
Tongcheng Travel Holdings Ltd
Glance View
Tongcheng Travel Holdings Ltd. has forged its path in the bustling online travel industry, seamlessly bridging the gap between China's tech-savvy travelers and an expansive network of travel services. Born from the fusion of Tongcheng Network and eLong in 2018, the company rapidly emerged as a formidable player within the travel sector. As a prominent online travel agency (OTA), it cleverly leverages technology to offer a comprehensive suite of travel services, ranging from transportation ticketing to accommodation and attraction bookings. Their platform, primarily designed for mobile users, capitalizes on engaging the digital consumer efficiently. By integrating itself with major super-apps like WeChat and Alipay, Tongcheng Travel expands its reach, tapping into the vast ecosystems that these digital giants command. Revenue generation for Tongcheng Travel is intricately tied to the volume and value of transactions conducted through its platform. The company primarily earns through service fees on hotel reservations, transportation tickets, and other travel-related bookings. Additionally, it benefits from various agreements with service providers and vendors, securing favorable terms that bolster its commission-based model. Its adept use of data analytics allows it to offer personalized travel solutions, thus enhancing user experience and improving conversion rates. Meanwhile, strategic partnerships and investments in AI technology have strengthened its position in the competitive landscape, enabling it to anticipate market changes and swiftly adapt its offerings, ensuring a steady flow of revenue amidst an ever-evolving travel industry.
