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Trip.com GroupFRA:CLVB -0.52%79 Net-Net Working Capital is €-0.96 as of Mar. 2026. GuruFocus rates FRA:CLVB with a GF Score™ of 79/100 and a GF Value™ of €65.56 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 214 Travel & Leisure companies, Trip.com Group ranks worse than 467289.25% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Trip.com Group's Net-Net Working Capital for the quarter that ended in Mar. 2026 was €-0.96.
The industry rank for Trip.com Group's Net-Net Working Capital or its related term are showing as below:
FRA:CLVB's Price-to-Net-Net-Working-Capital is not ranked *
in the Travel & Leisure industry.
Industry Median: 7.39 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Trip.com Group (FRA:CLVB) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Trip.com Group Net-Net Working Capital Related Terms
Trip.com Group Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Trip.com Group's Net-Net Working Capital can be seen below:
* 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.
FRA:CLVB vs EXPE, CCL, NCLH: Net-Net Working Capital Comparison
For the Travel Services subindustry, Trip.com Group's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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.
Trip.com Group Price-to-Net-Net-Working-Capital vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Trip.com Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Trip.com Group's Price-to-Net-Net-Working-Capital 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 calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of €-0.96 mean?
Trip.com Group (FRA:CLVB) has a Net-Net Working Capital of €-0.96 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Trip.com Group According to the industry distribution chart, Trip.com Group ranks #999999 out of 214 companies in the Travel & Leisure industry.
Is Trip.com Group's Net-Net Working Capital too high?
Trip.com Group's current Net-Net Working Capital is €-0.96. Based on the distribution chart, Trip.com Group ranks #999999 out of 214 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Trip.com Group has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Trip.com Group's Net-Net Working Capital compare to EXPE and CCL?
According to the Travel & Leisure industry distribution chart, Trip.com Group ranks #999999 out of 214 companies for Net-Net Working Capital. This places Trip.com Group in the lower half of its industry. The industry median Net-Net Working Capital is 7.39. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Travel & Leisure company?
The median Net-Net Working Capital among Travel & Leisure companies is 7.39, based on 214 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Trip.com Group For the Travel & Leisure industry, the median Net-Net Working Capital is 7.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Trip.com Group's current Net-Net Working Capital is €-0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Trip.com Group stock overvalued right now?
Based on GuruFocus' analysis, Trip.com Group (FRA:CLVB) is currently considered Significantly Undervalued. The stock's GF Value™ is €65.56, compared to a current price of €38.20 — trading 41.7% below its estimated fair value. The current Net-Net Working Capital is €-0.96. Trip.com Group's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Trip.com Group (FRA:CLVB), the current Net-Net Working Capital is €-0.96 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 Trip.com Group (FRA:CLVB) Overvalued in 2026?
Based on GuruFocus' analysis, Trip.com Group stock appears to be undervalued.
The current stock price of €38.20 is trading 41.7% below its estimated GF Value™ of €65.56.
GuruFocus considers Trip.com Group to be Significantly Undervalued.
Key valuation signals for FRA:CLVB:
Net-Net Working Capital: €-0.96
GF Value™: €65.56 vs. price of €38.20 (41.7% below fair value)
No single metric tells the full story. See the FRA:CLVB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Trip.com is the largest online travel agent in China and is positioned to benefit from the country's rising demand for higher-margin outbound travel as passport penetration is only 12% in China. The company generated about 79% of sales from accommodation reservations and transportation ticketing in 2024. The rest of revenue comes from package tours and corporate travel. Before the pandemic in 2019, the company generated 25% of revenue from international travel, which is important to its margin expansion. Most of sales come from its domestic platform, but the company is expanding its overseas business. The competes in a crowded OTA industry in China, including Meituan, Alibaba-backed Fliggy, Tongcheng, and Qunar. The company was founded in 1999 and listed on the Nasdaq in December 2003.
79GF Score
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