Tuniu Corp
TOUR Nasdaq Transportation Services Financials FY2016โFY2025
Revenue
Total sales reported in the income statement.
$80.4M
12.7%
vs prior year
Operating margin
Operating income as a share of revenue.
1.9%
10.4ย pts
Net income
Profit after all expenses, interest and tax.
$4.3M
59.6%
Free cash flow
Cash from operations minus capital spending.
โ$16.2M
237.7%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
What Tuniu Corp does
No business description yet.
- Legal name
- Tuniu Corp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 20, 2026
- Accession ยท CIK
- 0001104659-26-045132
0001597095
Revenue and margins
Tuniu Corp had $80.4M of revenue in fiscal 2025, up 12.7% on the year before.
FY16
Revenue $1.6B
FY17
Revenue $324M
FY18
Revenue $339M
FY19
Revenue $330M
FY20
Revenue $65.2M
FY21
Revenue $66.1M
FY22
Revenue $27.3M
FY23
Revenue $62.3M
FY24
Revenue $71.4M
FY25
Revenue $80.4M
FY16
Gross 6.1%
Operating โ23.7%
Net โ22.9%
FCF โ22.4%
FY17
Gross 53.3%
Operating โ40.3%
Net โ35.0%
FCF โ26.4%
FY18
Gross 52.5%
Operating โ15.6%
Net โ8.3%
FCF 6.6%
FY19
Gross 47.4%
Operating โ38.2%
Net โ30.5%
FCF โ10.7%
FY20
Gross 47.3%
Operating โ297.8%
Net โ290.5%
FCF โ297.9%
FY21
Gross 40.2%
Operating โ42.6%
Net โ28.5%
FCF โ56.5%
FY22
Gross 48.8%
Operating โ114.5%
Net โ105.3%
FCF โ81.4%
FY23
Gross 66.6%
Operating โ23.1%
Net โ22.5%
FCF 50.5%
FY24
Gross 69.7%
Operating 12.3%
Net 15.0%
FCF 16.4%
FY25
Gross 58.0%
Operating 1.9%
Net 5.4%
FCF โ20.1%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income โ$362M
FY17
Net income โ$114M
FY18
Net income โ$28.0M
FY19
Net income โ$101M
FY20
Net income โ$190M
FY21
Net income โ$18.8M
FY22
Net income โ$28.7M
FY23
Net income โ$14.0M
FY24
Net income $10.7M
FY25
Net income $4.3M
FY16
Diluted EPS โ$0.97
FY17
Diluted EPS โ$0.30
FY18
Diluted EPS โ$0.08
FY19
Diluted EPS โ$0.27
FY20
Diluted EPS โ$0.51
FY21
Diluted EPS โ$0.05
FY22
Diluted EPS โ$0.08
FY23
Diluted EPS โ$0.04
FY24
Diluted EPS $0.03
FY25
Diluted EPS $0.01
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital โ
Return on equity โ55.9%
Return on assets โ27.4%
FY17
Return on capital โ2,547.8%
Return on equity โ18.9%
Return on assets โ9.7%
FY18
Return on capital โ14.4%
Return on equity โ5.4%
Return on assets โ2.8%
FY19
Return on capital โ52.4%
Return on equity โ22.9%
Return on assets โ10.6%
FY20
Return on capital โ
Return on equity โ63.0%
Return on assets โ26.4%
FY21
Return on capital โ43.0%
Return on equity โ9.2%
Return on assets โ4.4%
FY22
Return on capital โ68.3%
Return on equity โ15.9%
Return on assets โ9.1%
FY23
Return on capital โ
Return on equity โ9.2%
Return on assets โ5.1%
FY24
Return on capital 34.7%
Return on equity 7.3%
Return on assets 4.0%
FY25
Return on capital โ
Return on equity 2.9%
Return on assets 1.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$16.2M in fiscal 2025, โ20.1% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow โ$355M
FY17
Free cash flow โ$85.7M
FY18
Free cash flow $22.5M
FY19
Free cash flow โ$35.2M
FY20
Free cash flow โ$194M
FY21
Free cash flow โ$37.4M
FY22
Free cash flow โ$22.2M
FY23
Free cash flow $31.5M
FY24
Free cash flow $11.7M
FY25
Free cash flow โ$16.2M
FY16
Cash from operations โ$337M
Capital spending $17.7M
FY17
Cash from operations โ$61.9M
Capital spending $23.7M
FY18
Cash from operations $40.5M
Capital spending $18.1M
FY19
Cash from operations โ$17.4M
Capital spending $17.7M
FY20
Cash from operations โ$190M
Capital spending $4.1M
FY21
Cash from operations โ$35.1M
Capital spending $2.3M
FY22
Cash from operations โ$21.2M
Capital spending $1.0M
FY23
Cash from operations $32.9M
Capital spending $1.4M
FY24
Cash from operations $13.4M
Capital spending $1.6M
FY25
Cash from operations โ$15.2M
Capital spending $1.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Tuniu Corp returned $11.3M to shareholders in fiscal 2025. The diluted share count fell 5.7%.
FY16
Dividends โ
Buybacks $3.0M
FY17
Dividends โ
Buybacks $24.6M
FY18
Dividends โ
Buybacks $21.0M
FY19
Dividends โ
Buybacks $2.0M
FY20
Dividends โ
Buybacks $0.0M
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks $6.2M
FY25
Dividends $4.1M
Buybacks $7.1M
Dividends
Buybacks
FY16
Diluted shares 0.37B
FY17
Diluted shares 0.38B
FY18
Diluted shares 0.38B
FY19
Diluted shares 0.37B
FY20
Diluted shares 0.37B
FY21
Diluted shares 0.37B
FY22
Diluted shares 0.37B
FY23
Diluted shares 0.37B
FY24
Diluted shares 0.36B
FY25
Diluted shares 0.34B
Balance sheet
Cash, debt and the ratios that show how comfortably Tuniu Corp can carry it.
FY16
Cash $675M
Debt โ
FY17
Cash $548M
Debt $0.0M
FY18
Cash $206M
Debt $7.8M
FY19
Cash $230M
Debt $30.7M
FY20
Cash $240M
Debt $12.7M
FY21
Cash $152M
Debt $3.8M
FY22
Cash $127M
Debt $2.8M
FY23
Cash $163M
Debt $2.5M
FY24
Cash $123M
Debt $0.0M
FY25
Cash $152M
Debt $0.0M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $152M | $127M | $163M | $123M | $152M |
| Debt incl. finance leases | $3.8M | $2.8M | $2.5M | $0.0M | $0.0M |
| Net debt / EBITDA | โ | โ | โ | โ12.7x | โ66.9x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | โ24.2x | โ42.8x | โ28.9x | 19.1x | 5.6x |
| Current ratio | 1.5x | 1.5x | 1.6x | 1.3x | 2.0x |
| Quick ratio | 1.5x | 1.5x | 1.6x | 1.3x | 2.0x |
| Total assets | $362M | $272M | $276M | $262M | $229M |
| Total liabilities | $164M | $119M | $138M | $123M | $91.7M |
| Shareholders' equity | $200M | $161M | $145M | $148M | $147M |
| Net debt (โ = net cash) | โ$148M | โ$124M | โ$160M | โ$123M | โ$152M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | 4 / 8 | 5 / 9 | 2 / 9 | 2 / 9 | 4 / 9 | 4 / 9 | 7 / 9 | 8 / 9 | 4 / 9 |
| Accruals ratio | โ1.9% | โ4.4% | โ6.9% | โ8.7% | 0.1% | 3.8% | โ2.4% | โ17.1% | โ1.0% | 8.0% |
| Altman Z'' | โ0.43 | โ0.14 | โ0.78 | โ3.24 | โ8.63 | โ8.95 | โ11.80 | โ10.92 | โ11.19 | โ12.51 |
10 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.6B | $324M | $339M | $330M | $65.2M | $66.1M | $27.3M | $62.3M | $71.4M | $80.4M |
| Provision for credit losses | โ | โ | โ | $0.2M | $1.2M | $0.2M | $0.4M | $0.0M | โ | โ |
| Gross profit | $96.2M | $173M | $178M | $156M | $30.9M | $26.6M | $13.3M | $41.5M | $49.7M | $46.6M |
| Research and development | $90.5M | $80.1M | $47.6M | $43.9M | $14.6M | $8.5M | $7.5M | $8.0M | $7.3M | $8.2M |
| Operating income | โ$376M | โ$131M | โ$52.7M | โ$126M | โ$194M | โ$28.1M | โ$31.2M | โ$14.4M | $8.8M | $1.6M |
| Interest expense | โ | โ | $1.2M | $4.9M | $4.7M | $1.2M | $0.7M | $0.5M | $0.5M | $0.3M |
| Pretax income | โ$365M | โ$112M | โ$30.1M | โ$106M | โ$196M | โ$20.0M | โ$30.3M | โ$14.0M | $11.5M | โ$4.2M |
| Income tax | โ$0.3M | $2.3M | $0.0M | $0.1M | โ$1.0M | $0.0M | โ$0.1M | $0.2M | $0.1M | $0.2M |
| Net income | โ$362M | โ$114M | โ$28.0M | โ$101M | โ$190M | โ$18.8M | โ$28.7M | โ$14.0M | $10.7M | $4.3M |
| Net income to common | โ$362M | โ$114M | โ$28.4M | โ$101M | โ$190M | โ$18.8M | โ$28.7M | โ$14.0M | $10.7M | $4.3M |
| Diluted EPS | โ$0.97 | โ$0.30 | โ$0.08 | โ$0.27 | โ$0.51 | โ$0.05 | โ$0.08 | โ$0.04 | $0.03 | $0.01 |
| Diluted shares | 0.37B | 0.38B | 0.38B | 0.37B | 0.37B | 0.37B | 0.37B | 0.37B | 0.36B | 0.34B |
| Cash flow | ||||||||||
| Cash from operations | โ$337M | โ$61.9M | $40.5M | โ$17.4M | โ$190M | โ$35.1M | โ$21.2M | $32.9M | $13.4M | โ$15.2M |
| Capital expenditure | $17.7M | $23.7M | $18.1M | $17.7M | $4.1M | $2.3M | $1.0M | $1.4M | $1.6M | $1.0M |
| Free cash flow | โ$355M | โ$85.7M | $22.5M | โ$35.2M | โ$194M | โ$37.4M | โ$22.2M | $31.5M | $11.7M | โ$16.2M |
| Depreciation and amortization | $10.0M | $9.7M | $10.1M | $12.7M | $18.5M | $3.8M | $2.3M | $1.7M | $0.9M | $0.7M |
| Stock-based compensation | $13.9M | $14.6M | $10.4M | $8.9M | $3.0M | $1.4M | $0.7M | $2.2M | $1.3M | $0.8M |
| Acquisitions | $2.5M | $0.0M | $0.4M | $4.8M | $0.0M | โ | โ | โ | โ | โ |
| Share buybacks | $3.0M | $24.6M | $21.0M | $2.0M | $0.0M | โ | โ | โ | $6.2M | $7.1M |
| Dividends paid | โ | โ | โ | โ | โ | โ | โ | โ | โ | $4.1M |
| Dividends and buybacks | $3.0M | $24.6M | $21.0M | $2.0M | $0.0M | โ | โ | โ | $6.2M | $11.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $675M | $548M | $206M | $230M | $240M | $152M | $127M | $163M | $123M | $152M |
| Total debt | โ | $0.0M | $7.8M | $30.7M | $12.7M | $3.8M | $2.8M | $2.5M | $0.0M | $0.0M |
| Current assets | $1.1B | $782M | $641M | $549M | $349M | $232M | $174M | $212M | $165M | $185M |
| Current liabilities | $652M | $449M | $451M | $539M | $267M | $154M | $112M | $135M | $122M | $90.9M |
| Property and equipment, net | $25.6M | $22.8M | $27.2M | $32.1M | $17.1M | $15.5M | $12.3M | $8.1M | $4.5M | $2.7M |
| Goodwill | $21.3M | $22.7M | $23.2M | $33.3M | $35.5M | $36.5M | $16.6M | $0.0M | โ | โ |
| Intangible assets | $85.3M | $70.8M | $46.2M | $23.9M | $10.9M | $8.7M | $4.4M | $3.7M | $3.0M | $2.8M |
| Total assets | $1.3B | $1.0B | $953M | $948M | $489M | $362M | $272M | $276M | $262M | $229M |
| Total liabilities | $660M | $455M | $457M | $553M | $278M | $164M | $119M | $138M | $123M | $91.7M |
| Shareholders' equity | $648M | $552M | $487M | $389M | $212M | $200M | $161M | $145M | $148M | $147M |
| Margins | ||||||||||
| Gross margin | 6.1% | 53.3% | 52.5% | 47.4% | 47.3% | 40.2% | 48.8% | 66.6% | 69.7% | 58.0% |
| Operating margin | โ23.7% | โ40.3% | โ15.6% | โ38.2% | โ297.8% | โ42.6% | โ114.5% | โ23.1% | 12.3% | 1.9% |
| EBITDA margin | โ23.1% | โ37.3% | โ12.6% | โ34.3% | โ269.4% | โ36.8% | โ106.1% | โ20.4% | 13.5% | 2.8% |
| Net margin | โ22.9% | โ35.0% | โ8.3% | โ30.5% | โ290.5% | โ28.5% | โ105.3% | โ22.5% | 15.0% | 5.4% |
| FCF margin | โ22.4% | โ26.4% | 6.6% | โ10.7% | โ297.9% | โ56.5% | โ81.4% | 50.5% | 16.4% | โ20.1% |
| Returns | ||||||||||
| Return on capital | โ | โ2,547.8% | โ14.4% | โ52.4% | โ | โ43.0% | โ68.3% | โ | 34.7% | โ |
| Return on capital employed | โ56.2% | โ22.8% | โ10.5% | โ30.8% | โ87.5% | โ13.6% | โ19.5% | โ10.2% | 6.3% | 1.1% |
| Return on equity | โ55.9% | โ18.9% | โ5.4% | โ22.9% | โ63.0% | โ9.2% | โ15.9% | โ9.2% | 7.3% | 2.9% |
| Return on assets | โ27.4% | โ9.7% | โ2.8% | โ10.6% | โ26.4% | โ4.4% | โ9.1% | โ5.1% | 4.0% | 1.8% |
| Return on tangible equity | โ66.9% | โ24.9% | โ6.8% | โ30.5% | โ114.6% | โ12.2% | โ20.6% | โ9.9% | 7.4% | 3.0% |
| Growth | ||||||||||
| Revenue growth | โ | โ79.5% | 4.4% | โ2.5% | โ80.2% | 1.3% | โ58.7% | 128.4% | 14.6% | 12.7% |
| Net income growth | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ59.6% |
| EPS growth | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ57.2% |
| FCF growth | โ | โ | โ | โ256.5% | โ | โ | โ | โ | โ62.7% | โ237.7% |
| Share count change | โ | 1.3% | โ0.1% | โ2.2% | 0.2% | 0.2% | 0.1% | 0.1% | โ2.1% | โ5.7% |
| Financial health | ||||||||||
| Net debt / EBITDA | โ | โ | โ | โ | โ | โ | โ | โ | โ12.7x | โ66.9x |
| Debt / equity | โ | 0.0x | 0.0x | 0.1x | 0.1x | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | โ | โ | โ44.1x | โ25.6x | โ41.6x | โ24.2x | โ42.8x | โ28.9x | 19.1x | 5.6x |
| Current ratio | 1.7x | 1.7x | 1.4x | 1.0x | 1.3x | 1.5x | 1.5x | 1.6x | 1.3x | 2.0x |
| Quick ratio | 1.7x | 1.7x | 1.4x | 1.0x | 1.3x | 1.5x | 1.5x | 1.6x | 1.3x | 2.0x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.1% | 7.3% | 5.3% | 5.4% | 6.3% | 3.5% | 3.5% | 2.2% | 2.3% | 1.2% |
| Stock comp / revenue | 0.9% | 4.5% | 3.1% | 2.7% | 4.5% | 2.1% | 2.7% | 3.6% | 1.8% | 1.0% |
| Payouts / FCF | โ | โ | 93.6% | โ | โ | โ | โ | โ | 53.1% | โ |
| Quality scores | ||||||||||
| Piotroski F-score | โ | 4.0 | 5.0 | 2.0 | 2.0 | 4.0 | 4.0 | 7.0 | 8.0 | 4.0 |
| Altman Z'' | โ0.4 | โ0.1 | โ0.8 | โ3.2 | โ8.6 | โ8.9 | โ11.8 | โ10.9 | โ11.2 | โ12.5 |
| Accruals ratio | โ1.9% | โ4.4% | โ6.9% | โ8.7% | 0.1% | 3.8% | โ2.4% | โ17.1% | โ1.0% | 8.0% |
Source: SEC EDGAR XBRL filings (CIK 0001597095). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. The ADS ratio could not be read from the filing, so market cap and valuation are not shown. For information only โ not investment advice. Check the original filings before relying on any figure.