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Tongcheng Travel HoldingsTNGCF 86 Debt-to-EBITDA is 1.29 as of Mar. 2026, which is 24% above its 10-year median of 1.04. GuruFocus rates TNGCF with a GF Score™ of 86/100 and a GF Value™ of $5.40. The stock has 3 warning signs investors should review. Among 647 Travel & Leisure companies, Tongcheng Travel Holdings ranks better than 71.1% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Tongcheng Travel Holdings's Debt-to-EBITDA or its related term are showing as below:
TNGCF'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.16 Med: 1.04 Max: 2.88
Current: 1.14
During the past 11 years, the highest Debt-to-EBITDA Ratio of Tongcheng Travel Holdings was 2.88. The lowest was 0.16. And the median was 1.04.
TNGCF's Debt-to-EBITDA is ranked better than 71.1% of 647
companies
in the Travel & Leisure industry
Industry Median: 2.55
vs TNGCF: 1.14
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Tongcheng Travel Holdings Debt-to-EBITDA Related Terms
Tongcheng Travel Holdings Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TNGCF vs BKNG, ABNB, RCL: Debt-to-EBITDA Comparison
For the Travel Services subindustry, Tongcheng Travel Holdings's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tongcheng Travel Holdings Debt-to-EBITDA vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Tongcheng Travel Holdings's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Tongcheng Travel Holdings's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Tongcheng Travel Holdings (TNGCF) has a Debt-to-EBITDA of 1.29 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Tongcheng Travel Holdings. This is 24% above median its historical median of 1.04. Over the past decade, Tongcheng Travel Holdings' Debt-to-EBITDA has ranged from 0.16 to 2.88. According to the industry distribution chart, Tongcheng Travel Holdings ranks #187 out of 647 companies in the Travel & Leisure industry, placing it in the top 28.9%.
Is Tongcheng Travel Holdings' Debt-to-EBITDA too high?
Tongcheng Travel Holdings' current Debt-to-EBITDA of 1.29 is 24% above median its 10-year median of 1.04. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 2.88. The Travel & Leisure industry median Debt-to-EBITDA is 2.55. Tongcheng Travel Holdings' value of 1.29 is 49.4% below this industry median. Based on the distribution chart, Tongcheng Travel Holdings ranks #187 out of 647 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Tongcheng Travel Holdings has a GF Score™ of 86/100, reflecting its overall financial health beyond just this single metric.
How does Tongcheng Travel Holdings' Debt-to-EBITDA compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Tongcheng Travel Holdings ranks #187 out of 647 companies for Debt-to-EBITDA. This puts Tongcheng Travel Holdings in the upper half of its industry. The industry median Debt-to-EBITDA is 2.55. Tongcheng Travel Holdings' value of 1.29 is 49.4% below this benchmark. Historically, Tongcheng Travel Holdings' own Debt-to-EBITDA has ranged from 0.16 to 2.88 over the past decade. While the company's 10-year median is 1.04 vs. the industry median of 2.55, Tongcheng Travel Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Travel & Leisure company?
The median Debt-to-EBITDA among Travel & Leisure companies is 2.55, based on 647 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tongcheng Travel Holdings's current Debt-to-EBITDA of 1.29 is 49.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Tongcheng Travel Holdings. For the Travel & Leisure industry, the median Debt-to-EBITDA is 2.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tongcheng Travel Holdings's current Debt-to-EBITDA is 1.29, which is 24% above median its own 10-year median of 1.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tongcheng Travel Holdings stock overvalued right now?
Tongcheng Travel Holdings (TNGCF) has a current Debt-to-EBITDA of 1.29. The stock's GF Value™ is $5.40, compared to a current price of $2.80 — trading 48.1% below its estimated fair value. The current Debt-to-EBITDA is 1.29, which is 24% above median its 10-year median of 1.04 and 49.4% below the Travel & Leisure industry median of 2.55. Tongcheng Travel Holdings' overall GF Score™ is 86/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Tongcheng Travel Holdings (TNGCF), the current Debt-to-EBITDA is 1.29 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tongcheng Travel Holdings (TNGCF) Overvalued in 2026?
Based on GuruFocus' analysis, Tongcheng Travel Holdings stock appears to be undervalued.
The current stock price of $2.80 is trading 48.1% below its estimated GF Value™ of $5.40.
Key valuation signals for TNGCF:
Debt-to-EBITDA: 1.29 (24% above median its 10-year median of 1.04)
GF Value™: $5.40 vs. price of $2.80 (48.1% below fair value)
Industry Position: 49.4% below the Travel & Leisure median (#187 of 647)
No single metric tells the full story. See the TNGCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tongcheng Travel is an online travel agency platform that provides booking services for hotel and ticketing in China. It generated 84% of its revenue from accommodation reservations and transportation ticketing in 2023. The rest came from advertising and in-house software sales. The platform provides both online and offline services in the form of call centers and travel kiosks. Tongcheng Travel was formed from the merger of Tongcheng Network and eLong in 2018. It is currently 21.38% owned by Tencent and 20.86% by Trip.com. Tongcheng targets lower-tier cities and as of 2021, 86.7% of its users are from non-first-tier cities in China and 61.7% of new paying users on Weixin were from Tier 3 or below cities in China. The company competes with Trip.com, Alibaba's Fliggy, and Meituan.
86GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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