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Side-by-side financial comparison of Trip.com Group Ltd (TCOM) and Victory Capital Holdings, Inc. (VCTR). Click either name above to swap in a different company.
Victory Capital Holdings, Inc. is the larger business by last-quarter revenue ($388.0M vs $304.6M, roughly 1.3× Trip.com Group Ltd). Victory Capital Holdings, Inc. runs the higher net margin — 28.9% vs 27.8%, a 1.1% gap on every dollar of revenue.
Trip.com Group Limited is a multinational travel agency headquartered in Shanghai, China. It is the largest online travel service provider in the world.
Victory Capital Holdings, Inc.VCTREarnings & Financial Report
Victory Capital Holdings, Inc. is an American financial services company headquartered in San Antonio, Texas that focuses on investment management. Outside the US, it also has investment professionals in London, Hong Kong and Singapore.
TCOM vs VCTR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $304.6M | $388.0M |
| Net Profit | $84.6M | $112.1M |
| Gross Margin | 78.8% | — |
| Operating Margin | 16.5% | 41.0% |
| Net Margin | 27.8% | 28.9% |
| Revenue YoY | — | 76.7% |
| Net Profit YoY | — | 80.8% |
| EPS (diluted) | $0.12 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $388.0M | ||
| Q4 25 | $304.6M | $374.1M | ||
| Q3 25 | — | $361.2M | ||
| Q2 25 | — | $351.2M | ||
| Q1 25 | — | $219.6M | ||
| Q4 24 | — | $232.4M | ||
| Q3 24 | — | $225.6M | ||
| Q2 24 | $242.7M | $219.6M |
| Q1 26 | — | $112.1M | ||
| Q4 25 | $84.6M | $112.8M | ||
| Q3 25 | — | $96.5M | ||
| Q2 25 | — | $58.7M | ||
| Q1 25 | — | $62.0M | ||
| Q4 24 | — | $76.9M | ||
| Q3 24 | — | $82.0M | ||
| Q2 24 | $73.8M | $74.3M |
| Q1 26 | — | — | ||
| Q4 25 | 78.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 81.8% | — |
| Q1 26 | — | 41.0% | ||
| Q4 25 | 16.5% | 40.9% | ||
| Q3 25 | — | 38.2% | ||
| Q2 25 | — | 26.8% | ||
| Q1 25 | — | 42.3% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | — | 53.3% | ||
| Q2 24 | 27.8% | 50.4% |
| Q1 26 | — | 28.9% | ||
| Q4 25 | 27.8% | 30.2% | ||
| Q3 25 | — | 26.7% | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | 33.1% | ||
| Q3 24 | — | 36.3% | ||
| Q2 24 | 30.4% | 33.8% |
| Q1 26 | — | — | ||
| Q4 25 | $0.12 | $1.33 | ||
| Q3 25 | — | $1.11 | ||
| Q2 25 | — | $0.68 | ||
| Q1 25 | — | $0.96 | ||
| Q4 24 | — | $1.18 | ||
| Q3 24 | — | $1.24 | ||
| Q2 24 | $0.11 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.8B | $75.8M |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $23.8B | $2.4B |
| Total Assets | $36.9B | $4.1B |
| Debt / EquityLower = less leverage | 0.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $75.8M | ||
| Q4 25 | $10.8B | $163.7M | ||
| Q3 25 | — | $115.7M | ||
| Q2 25 | — | $107.9M | ||
| Q1 25 | — | $175.6M | ||
| Q4 24 | — | $126.7M | ||
| Q3 24 | — | $188.2M | ||
| Q2 24 | $12.4B | $119.0M |
| Q1 26 | — | — | ||
| Q4 25 | $4.2B | $970.0M | ||
| Q3 25 | — | $972.0M | ||
| Q2 25 | — | $965.7M | ||
| Q1 25 | — | $964.8M | ||
| Q4 24 | — | $963.9M | ||
| Q3 24 | — | $982.7M | ||
| Q2 24 | $8.2B | $981.7M |
| Q1 26 | — | $2.4B | ||
| Q4 25 | $23.8B | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $18.1B | $1.1B |
| Q1 26 | — | $4.1B | ||
| Q4 25 | $36.9B | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | $34.2B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.18× | 0.40× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.84× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | 0.45× | 0.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TCOM
| Others | $273.0M | 90% |
| Other | $31.6M | 10% |
VCTR
| Investment management fees | $316.4M | 82% |
| Fund administration and distribution fees | $71.6M | 18% |
