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 87 Equity-to-Asset is 0.53 as of Mar. 2026, which is 16% below its 10-year median of 0.63. GuruFocus rates TNGCF with a GF Score™ of 87/100 and a GF Value™ of $5.40. The stock has 3 warning signs investors should review. Among 858 Travel & Leisure companies, Tongcheng Travel Holdings ranks better than 54.08% on this metric.
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
Tongcheng Travel Holdings Equity-to-Asset Related Terms
Tongcheng Travel Holdings Equity-to-Asset 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: Equity-to-Asset Comparison
For the Travel Services subindustry, Tongcheng Travel Holdings's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset 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 Equity-to-Asset vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Tongcheng Travel Holdings's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Tongcheng Travel Holdings's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
Tongcheng Travel Holdings's Equity to Asset Ratio for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Equity-to-Asset of 0.53 as of Mar. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Tongcheng Travel Holdings and its competitors. This is 16% below median its historical median of 0.63. According to the industry distribution chart, Tongcheng Travel Holdings ranks #394 out of 858 companies in the Travel & Leisure industry, placing it in the top 45.9%.
Is Tongcheng Travel Holdings' Equity-to-Asset too high?
Tongcheng Travel Holdings' current Equity-to-Asset of 0.53 is 16% below median its 10-year median of 0.63. The Travel & Leisure industry median Equity-to-Asset is 0.51. Tongcheng Travel Holdings' value of 0.53 is 3.9% above this industry median. Based on the distribution chart, Tongcheng Travel Holdings ranks #394 out of 858 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Tongcheng Travel Holdings has a GF Score™ of 87/100, reflecting its overall financial health beyond just this single metric.
How does Tongcheng Travel Holdings' Equity-to-Asset compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Tongcheng Travel Holdings ranks #394 out of 858 companies for Equity-to-Asset. This puts Tongcheng Travel Holdings in the upper half of its industry. The industry median Equity-to-Asset is 0.51. Tongcheng Travel Holdings' value of 0.53 is 3.9% above this benchmark. While the company's 10-year median is 0.63 vs. the industry median of 0.51, Tongcheng Travel Holdings has consistently been above 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 Equity-to-Asset for a Travel & Leisure company?
The median Equity-to-Asset among Travel & Leisure companies is 0.51, based on 858 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tongcheng Travel Holdings's current Equity-to-Asset of 0.53 is 3.9% above 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 Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Tongcheng Travel Holdings and its competitors. For the Travel & Leisure industry, the median Equity-to-Asset is 0.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tongcheng Travel Holdings's current Equity-to-Asset is 0.53, which is 16% below median its own 10-year median of 0.63. 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 Equity-to-Asset of 0.53. 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 Equity-to-Asset is 0.53, which is 16% below median its 10-year median of 0.63 and 3.9% above the Travel & Leisure industry median of 0.51. Tongcheng Travel Holdings' overall GF Score™ is 87/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For Tongcheng Travel Holdings (TNGCF), the current Equity-to-Asset is 0.53 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:
Equity-to-Asset: 0.53 (16% below median its 10-year median of 0.63)
GF Value™: $5.40 vs. price of $2.80 (48.1% below fair value)
Industry Position: 3.9% above the Travel & Leisure median (#394 of 858)
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.
87GF Score
Get the complete analysis for TNGCF
Equity-to-Asset 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 
