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Tuniu Corporation

TOUR
42
Travel Services · Consumer Cyclical
Price
$4.90
+0.03 (+0.62%)
Market Cap
$18.2M
Exchange
NASDAQ
Winston Score
42
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Mixed
Growth
Good
Cash Flow
Weak
Stability
Mixed
Valuation
Good
Dividends
Good

Share count falling — buybacks

69.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 12.4M (2021) → 3.8M (2025)

Winston Score History

The full picture

Tuniu Corporation is a Chinese online travel company that helps people plan and book vacation packages. Its main products are organized tours, hotel stays, and transportation bookings, mostly sold to leisure travelers across China. The company operates entirely within China and focuses on packaged leisure travel rather than simple flight or hotel searches.

Tuniu makes money by selling travel packages directly to consumers through its website and mobile app, keeping a margin on each booking. It is a mid-sized player in China's competitive online travel market, where larger rivals like Trip.com hold significant advantages in scale and brand recognition. China's domestic travel demand has recovered since the pandemic, but Tuniu's thin operating margin and low return on capital suggest it struggles to convert revenue into meaningful profit — and sustaining growth while competing against better-funded platforms remains its central challenge.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+105.0% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

¥57M/ year

Rising (+9% vs prior year)

10.2% of revenue

2.6x the sector average (4%)

Investing heavily in future products and technology

Insider Activity

3.8%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

¥1.2B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Tuniu Corporation is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
55.5%
Premium pricing power — 55.5% gross margin
Profit after running costs
Operating Margin
-2.8%
Losing money on operations — -2.8%
Return on the money invested
ROCE
1.8%
Weak — 1.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+13.4%
Fast-growing sales (+13.4% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
0%
Weak — only 0% of profit becomes cash
Spare cash per sale
FCF Margin
0.0%
Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
10.87x
Comfortably covers interest (10.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
3.4x
Attractive valuation — P/E 3.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-3.6
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
23.84%
Healthy income — 23.84% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
N/A
Data not available

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