Tuniu Corporation
- Open
- 5.11
- Day high
- 5.28
- Day low
- 4.83
- Prev close
- 4.83
- Volume
- 2K
- Mkt cap
- $54M
- P/E (TTM)
- 3.4
- EPS (TTM)
- $1.44
- P/B
- 0.4
- P/S
- 0.6
- Yield
- 24.11%
- Per share
- $1.20
Tuniu Corporation (TOUR) is a Consumer Cyclical company listed on NASDAQ. The stock is down 43% over the past year.
Tuniu Corporation (TOUR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TOUR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 5, 2026 | — | $0.04 | — | $19M | — |
| Mar 5, 2026 | — | $0.01 | — | $17M | — |
| Dec 5, 2025 | — | $0.03 | — | $28M | — |
| Aug 15, 2025 | — | $0.03 | — | $19M | — |
| Jun 12, 2025 | — | $-0.03 | — | $14M | — |
| Dec 5, 2024 | — | $0.06 | — | $27M | — |
| Jun 4, 2024 | — | $0.04 | — | $15M | — |
| Mar 13, 2024 | — | $0.01 | — | $14M | — |
| Nov 21, 2023 | — | $0.07 | — | $24M | — |
| Aug 17, 2023 | — | $0.01 | — | $14M | — |
| Jun 9, 2023 | — | $-0.01 | — | $9M | -7.9% |
| Mar 17, 2023 | — | $-0.04 | — | $4M | +6.6% |
TOUR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 10, 2026 | Dunde Yudirector, officer: Chief Executive Officer | Grant | 900,000 | $3.00 |
| May 11, 2026 | Cheng Haijindirector | Option | 1,350 | — |
| May 11, 2026 | Xu Liangjiedirector | Option | 2,550 | — |
| May 11, 2026 | Cheng Haijindirector | Option | 45 | — |
| May 11, 2026 | Xu Liangjiedirector | Option | 85 | — |
| Apr 13, 2026 | Xu Liangjiedirector | Option | 833 | — |
| Apr 13, 2026 | Cheng Haijindirector | Option | 416 | — |
| Apr 13, 2026 | Cheng Haijindirector | Option | 1,248 | — |
| Apr 13, 2026 | Xu Liangjiedirector | Option | 2,499 | — |
| Mar 25, 2026 | Dunde Yudirector, officer: Chief Executive Officer | Buy | 2,000 | $0.72 |
| Mar 25, 2026 | Dunde Yudirector, officer: Chief Executive Officer | Buy | 27,000 | $0.73 |
| Mar 24, 2026 | Chen Anqiangofficer: Financial Controller | Buy | 16,800 | $0.73 |
| Mar 24, 2026 | Chen Anqiangofficer: Financial Controller | Buy | 2,800 | $0.72 |
Source: TOUR SEC Form 4 filings, latest Jun 10, 2026. For informational purposes only — not investment advice.
See the full TOUR insider & 13F page →Tuniu Corporation company profile
Overview
Tuniu Corporation (NASDAQ:TOUR) is a Chinese online leisure travel company founded in 2006 and headquartered in Nanjing. The company went public on NASDAQ in May 2014. After years of challenges including the COVID-19 pandemic that severely impacted the travel industry, Tuniu achieved its first full-year GAAP profitability since listing in 2024, marking a significant turnaround for the company. The company operates primarily in China's domestic travel market while gradually expanding its outbound travel offerings as international travel recovers.
Business
Tuniu operates as an online travel agency (OTA) specializing in leisure travel services for Chinese consumers. The company's business is organized around two main revenue segments: 1. **Packaged Tours (79% of 2024 revenue)**: This is Tuniu's core offering, providing organized group tours and self-guided travel packages. These tours include transportation, accommodation, meals, and guided activities bundled into a single package. The company has developed proprietary tour products under brands like "Niu Tour" and "Niu Select", with a focus on zero-shopping policies (tours without mandatory shopping stops) and small group experiences. Tours cover both domestic Chinese destinations like Yunnan, Hainan, and Xinjiang, as well as international destinations including Japan, Europe, South America, and polar regions. 2. **Other Travel Services (21% of 2024 revenue)**: This segment includes individual travel components such as tourist attraction tickets, visa application services, hotel bookings, transportation tickets (air, train, bus), car rental, travel insurance, and financial services. The company also provides advertising services to tourism boards and destination marketing organizations. The travel industry in China operates differently from Western markets, with a stronger preference for packaged group tours, especially among older demographics and first-time travelers to international destinations. Chinese travelers often prefer the convenience and perceived safety of organized tours, particularly for complex international itineraries.
Revenue model
Tuniu generates revenue through multiple business models across its service offerings. For packaged tours, the company operates on a markup model, purchasing travel components (hotels, transportation, guides) at wholesale rates and selling complete packages to consumers at retail prices. The gross margin on packaged tours has improved significantly, reaching over 70% in recent periods as the company focuses on higher-margin, in-house developed products rather than third-party supplier packages. For other travel services, Tuniu earns commissions from suppliers (hotels, airlines, attraction operators) when customers book through their platform, similar to other online travel agencies. The company also charges service fees for visa applications and other specialized services. The company's paying customers are primarily Chinese leisure travelers, with a focus on middle-to-upper class consumers and senior travelers who have higher spending power and preference for organized tours. Repeat customers contribute over 65% of transaction volume, indicating strong customer loyalty. Several factors influence Tuniu's margins and profitability. Positive factors include the recovery of China's domestic travel market, increasing consumer preference for quality travel experiences over budget options, and the company's shift toward higher-margin in-house products. The gradual reopening of outbound travel also provides growth opportunities. Negative factors include intense competition from larger OTAs like Ctrip and Fliggy, seasonal fluctuations in travel demand, potential COVID-19 related disruptions, and the need for continuous investment in technology and marketing to maintain market position.
Competitive moat
Tuniu's competitive moat is relatively narrow in the highly competitive Chinese online travel market. The company's main competitive advantages include its specialization in packaged leisure tours, which differentiates it from larger OTAs that focus more on individual bookings, and its established brand recognition among Chinese consumers seeking organized travel experiences. The company has built some operational advantages through its multi-channel distribution network, including over 200 offline stores, live streaming channels, and partnerships with major Chinese platforms like Alipay. Its focus on customer service and maintaining a 94% product satisfaction rating provides some customer retention benefits. However, Tuniu faces significant competitive threats. Larger OTAs like Ctrip (now Trip.com) and Alibaba's Fliggy have substantially more resources, broader service offerings, and stronger technology platforms. These competitors can easily expand into packaged tours if they choose to prioritize this segment. Direct suppliers such as hotels and airlines increasingly sell directly to consumers, potentially bypassing OTAs entirely. Additionally, social media and content platforms are becoming travel booking channels, with live streaming and short video platforms enabling direct sales. The travel industry's relatively low switching costs and commoditized nature mean that Tuniu must continuously invest in marketing, technology, and customer acquisition to maintain its position. The company's moat is best described as weak, relying primarily on operational execution and niche market focus rather than structural competitive advantages.
Risks & safety
**Overall Assessment**: Moderate margin of safety with improving fundamentals but still elevated risk profile. **Liquidity and Solvency**: - Cash and short-term investments: RMB 633.7 million ($63.4 million) - Current ratio: 1.35x (adequate but declining from 1.70x in Q3) - Debt-to-equity ratio: 0.004 (minimal debt burden) - Positive operating cash flow: RMB 131.2 million in 2024 - No immediate solvency concerns given cash position and minimal debt **Valuation Metrics**: - P/E ratio: 3.94x (very low, suggesting either value opportunity or market skepticism) - P/B ratio: 0.28x (trading below book value) - EV/EBITDA: 5.98x (reasonable for profitable operations) - Graham Net-Net ratio: 0.25x (trading below net current assets) **Other Considerations**: - First profitable year since listing provides positive momentum - Small market cap ($37.3 million) creates liquidity risk - Cyclical travel industry subject to external shocks - Heavy dependence on Chinese domestic market
Recent development
Over the past few years, Tuniu has undergone a significant strategic transformation focused on profitability and operational efficiency. The company shifted from a growth-at-all-costs model to emphasizing high-quality, in-house developed tour products. This includes launching proprietary brands like "Niu Tour" and "Niu Select" with zero-shopping policies, which command higher margins and improve customer satisfaction. A major strategic pivot has been the expansion of multi-channel sales distribution. The company heavily invested in live streaming channels, which grew over 100% year-over-year in transaction volume during 2024. Tuniu also expanded its offline presence to over 200 retail stores nationwide and formed partnerships with major Chinese platforms like Alipay and JD Travel. The company has embraced technology and automation to improve operational efficiency and reduce costs. This includes implementing AI-powered customer service, automated booking systems, and exploring AI language models for tourism applications. These investments helped reduce operating expenses as a percentage of revenue. Product diversification has been another key focus, with Tuniu expanding beyond traditional group tours to offer private tours, small group experiences, and self-guided options. The company also broadened its destination portfolio to include emerging markets like South America and polar regions, positioning itself for the recovery in outbound travel. Following the COVID-19 pandemic, Tuniu successfully navigated the transition from primarily outbound travel (which was severely restricted) to domestic travel, then gradually rebuilt its international offerings as borders reopened. The company achieved its first GAAP profitability since listing in 2024 and returned approximately $10 million to shareholders through dividends and share repurchases.
TOUR company profile · for informational purposes only — not investment advice.
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