Tuniu Corp (TOUR) stock analysis
Close on Nov 12, 2026Market cap $512.19MP/E 116.0Yield –
StockData Score
Prices as of Nov 12, 2026How the score works
Mixed9 of 30 checks passed
Tuniu passes 9 of the 30 checks behind our score; 16 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 2/6
- Past performance
- 3/6
- Financial health
- 4/6
- Dividend
- 0/6
What stands out
Return on capital over 10%
Return on invested capital was 11.7%, above the 10% that usually covers the cost of capital.
Low debt
Debt is 0.0% of shareholders' equity, under the 40% we consider low.
Revenue growing 10%+ a year
Revenue grew 46.6% a year over the last three fiscal years.
Interest well covered
Operating income covers interest expense 5.6 times.
What to watch
Return on equity under 15%
Return on equity was 2.9% over the last twelve months and averaged -4.9% over five years; we look for 15% on both.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals -311623% of total debt; we look for at least 20%.
Gross margin slipping
Gross margin was 58.0% over the last twelve months, against 69.7% a year earlier.
Return on equity below the industry
Tuniu's return on equity of 2.9% is below the Transportation Services median of 3.8%.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth2/6
Revenue growing 10%+ a year
Revenue grew 46.6% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 12.5% over the last twelve months; the Transportation Services median is 9.5%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin slipping
Gross margin was 58.0% over the last twelve months, against 69.7% a year earlier.
Past performance3/6
Return on equity under 15%
Return on equity was 2.9% over the last twelve months and averaged -4.9% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 11.7%, above the 10% that usually covers the cost of capital.
Return on equity below the industry
Tuniu's return on equity of 2.9% is below the Transportation Services median of 3.8%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 5.4% over the last twelve months, against a 5-year average of -27.2%.
Net margin above the industry
Tuniu's net margin of 5.4% is above the Transportation Services median of 1.0%.
Financial health4/6
Low debt
Debt is 0.0% of shareholders' equity, under the 40% we consider low.
Debt falling against equity
Debt to equity fell from 6.0% five years ago to 0.0%.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals -311623% of total debt; we look for at least 20%.
Interest well covered
Operating income covers interest expense 5.6 times.
Short-term assets cover short-term debts
Current assets are 2.04 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Tuniu has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Tuniu. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $21.26K
- Value traded per 1% price move
- $11.58K
Downside
Medium risk
- Typical loss in a bad month
- 23.9%
- Volatility (annualized)
- 55%
- Sharpe ratio, 1 year
- -0.84
- Beta to the S&P 500 (5Y)
- 0.36
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.5% | +46.6% | +5.1% | -22.8% | |
| Gross profit | -6.4% | +55.2% | +9.5% | -0.8% | |
| Operating income | -82.2% | – | – | – | |
| Net income | -59.7% | – | – | – | |
| EPS, diluted | -57.1% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -61.6% | -63.9% | 2.9% | |
| Return on assets | -29.4% | -26.7% | 1.8% | |
| Current ratio | 1.66 | 1.31 | 2.04 | |
| Debt to equity | – | 0.06 | – | |
| Interest coverage | – | -41.6× | 5.6× | |
| Capex to revenue | 1.1% | 6.3% | 1.2% | |
| Diluted shares | 373M | 370M | 343M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Tuniu generated CN¥807.52M from operations and spent CN¥175.81M on capital expenditure, dividends and share buybacks. 28% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.4% | 0.33× | 1.66× | 2.9% |
| FY2024 | 15.0% | 0.27× | 1.83× | 7.3% |
| FY2023 | -22.5% | 0.23× | 1.79× | -9.3% |
| FY2022 | -105.3% | 0.09× | 1.76× | -16.3% |
| FY2021 | -28.5% | 0.16× | 2.07× | -9.2% |
| FY2020 | -290.5% | 0.09× | 2.39× | -63.9% |
| FY2019 | -30.5% | 0.35× | 2.17× | -22.9% |
| FY2018 | -8.3% | 0.34× | 1.90× | -5.3% |
| FY2017 | -35.0% | 0.28× | 1.96× | -19.0% |
| FY2016 | -22.9% | 1.29× | 2.09× | -61.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zeroCN¥31.13M
- Cash generatingOperating cash flow above zero-CN¥109.07M
- Return on assets improvedROA up on the prior year3.9% → 1.6%
- Earnings backed by cashOperating cash flow above net income-CN¥109.07M vs CN¥31.13M
- Less leverageLong-term debt to assets fell0.0% → –
- Better liquidityCurrent ratio rose1.35 → 2.04
- No dilutionShare count did not rise364M → 343M
- Gross margin improvedGross margin up on the prior year69.71% → 57.96%
- More efficientAsset turnover rose0.26 → 0.30
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