Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Tongcheng Travel HoldingsTNGCF 91 Debt-to-Equity is 0.23 as of Mar. 2026, which is 77% above its 10-year median of 0.13. GuruFocus rates TNGCF with a GF Score™ of 91/100 and a GF Value™ of $5.00. The stock has 3 warning signs investors should review. Among 722 Travel & Leisure companies, Tongcheng Travel Holdings ranks better than 65.51% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Tongcheng Travel Holdings's Debt-to-Equity or its related term are showing as below:
TNGCF'
s Debt-to-Equity Range Over the Past 10 Years
Min: -0.04 Med: 0.13 Max: 0.25
Current: 0.23
During the past 11 years, the highest Debt-to-Equity Ratio of Tongcheng Travel Holdings was 0.25. The lowest was -0.04. And the median was 0.13.
TNGCF's Debt-to-Equity is ranked better than 65.51% of 722
companies
in the Travel & Leisure industry
Industry Median: 0.43
vs TNGCF: 0.23
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Tongcheng Travel Holdings Debt-to-Equity Related Terms
Tongcheng Travel Holdings Debt-to-Equity 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-Equity Comparison
For the Travel Services subindustry, Tongcheng Travel Holdings's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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-Equity vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Tongcheng Travel Holdings's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Tongcheng Travel Holdings's Debt-to-Equity 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.
Tongcheng Travel Holdings (TNGCF) has a Debt-to-Equity of 0.23 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Tongcheng Travel Holdings and its competitors. This is 77% above median its historical median of 0.13. According to the industry distribution chart, Tongcheng Travel Holdings ranks #249 out of 722 companies in the Travel & Leisure industry, placing it in the top 34.5%.
Is Tongcheng Travel Holdings' Debt-to-Equity too high?
Tongcheng Travel Holdings' current Debt-to-Equity of 0.23 is 77% above median its 10-year median of 0.13. The Travel & Leisure industry median Debt-to-Equity is 0.43. Tongcheng Travel Holdings' value of 0.23 is 46.5% below this industry median. Based on the distribution chart, Tongcheng Travel Holdings ranks #249 out of 722 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Tongcheng Travel Holdings has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Tongcheng Travel Holdings' Debt-to-Equity compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Tongcheng Travel Holdings ranks #249 out of 722 companies for Debt-to-Equity. This puts Tongcheng Travel Holdings in the upper half of its industry. The industry median Debt-to-Equity is 0.43. Tongcheng Travel Holdings' value of 0.23 is 46.5% below this benchmark. While the company's 10-year median is 0.13 vs. the industry median of 0.43, 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-Equity for a Travel & Leisure company?
The median Debt-to-Equity among Travel & Leisure companies is 0.43, based on 722 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tongcheng Travel Holdings's current Debt-to-Equity of 0.23 is 46.5% 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-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Tongcheng Travel Holdings and its competitors. For the Travel & Leisure industry, the median Debt-to-Equity is 0.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tongcheng Travel Holdings's current Debt-to-Equity is 0.23, which is 77% above median its own 10-year median of 0.13. 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-Equity of 0.23. The stock's GF Value™ is $5.00, compared to a current price of $2.80 — trading 44% below its estimated fair value. The current Debt-to-Equity is 0.23, which is 77% above median its 10-year median of 0.13 and 46.5% below the Travel & Leisure industry median of 0.43. Tongcheng Travel Holdings' overall GF Score™ is 91/100 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-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Tongcheng Travel Holdings (TNGCF), the current Debt-to-Equity is 0.23 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 44% below its estimated GF Value™ of $5.00.
Key valuation signals for TNGCF:
Debt-to-Equity: 0.23 (77% above median its 10-year median of 0.13)
GF Value™: $5.00 vs. price of $2.80 (44% below fair value)
Industry Position: 46.5% below the Travel & Leisure median (#249 of 722)
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.
91GF Score
Get the complete analysis for TNGCF
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TNGCF has been successfully added to your 
