Based on the provided data, I'll analyze whether TCOM is overvalued through multiple valuation metrics and recent performance.
Valuation Analysis
TCOM's current P/E ratio of 17.51 (Q3 2024) is relatively moderate compared to the industry average, suggesting reasonable valuation from an earnings perspective. The EV/EBITDA of 16.28 indicates the company is trading at a premium to its operating earnings.
Growth & Profitability
The company shows strong revenue growth with Q3 2024 revenue reaching 15.87 billion CNY, up significantly from previous quarters. Net margin expanded impressively to 42.98% in Q3 2024, demonstrating improved operational efficiency.
Analyst Consensus
Recent analyst actions are predominantly bullish. Multiple firms including Benchmark, Citigroup, and Barclays maintain "Strong Buy" ratings with price targets ranging from $78-85, suggesting 10-28% upside potential from current levels.
Technical Position
The stock is currently trading at $71.52, showing strong momentum with a 5.18% gain in the latest session. This price level represents fair value given the company's improving fundamentals and growth trajectory.
Conclusion
TCOM is not overvalued at current levels considering its robust growth metrics, expanding margins, and strong analyst support. The valuation multiples are justified by the company's market position and operational improvements.