Symbols / THCH $2.08 +1.72% TH International Limited

Consumer Cyclical • Restaurants • China • NCM
THCH Chart
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About

TH International Limited operates Tim Hortons coffee shops in mainland China, Hong Kong, and Macau. It offers brewed tea, coffee, milk tea, lemonade, hot chocolate, and coffee drinks. It is also involved in franchise related business. The company is based in Shanghai, the People's Republic of China.

Fundamentals
Scroll to Statements
Market Cap 66.42M Enterprise Value 1.92B Income -434.49M Sales 1.32B Book/sh -4.62 Cash/sh 3.75
Dividend Yield — Payout 0.00% Employees — IPO — P/E — Forward P/E -0.44
PEG — P/S 0.05 P/B -0.45 P/C — EV/EBITDA -18.45 EV/Sales 1.46
Quick Ratio 0.14 Current Ratio 0.33 Debt/Eq — LT Debt/Eq — EPS (ttm) -1.96 EPS next Y -4.72
EPS Growth — Revenue Growth -7.30% Earnings 2026-06-23 ROA -11.43% ROE — ROIC —
Gross Margin 38.85% Oper. Margin -27.94% Profit Margin -33.01% Shs Outstand 32.01M Shs Float 8.71M Short Float 0.48%
Short Ratio 13.13 Short Interest — 52W High 3.25 52W Low 1.69 Beta 0.51 Avg Volume 5.77K
Volume 1.02K Target Price — Recom None Prev Close $2.04 Price $2.08 Change 1.72%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
—
Mean price target
2. Current target
$2.08
Latest analyst target
3. DCF / Fair value
$-24.39
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$2.08
Low
—
High
—
Mean
—
News
RSS: Latest THCH news
Insider Transactions

No recent insider transactions.

Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total Revenue
1,391.16
-10.82%
1,560.01
+54.29%
1,011.06
+57.15%
643.37
Operating Revenue
1,188.29
-14.49%
1,389.64
+48.13%
938.10
+51.99%
617.23
Cost Of Revenue
1,177.60
-16.11%
1,403.67
+43.52%
978.01
+55.35%
629.57
Reconciled Cost Of Revenue
1,137.53
-17.53%
1,379.25
+43.18%
963.27
+55.88%
617.97
Gross Profit
213.56
+36.60%
156.34
+373.01%
33.05
+139.40%
13.81
Operating Expense
502.21
-27.89%
696.43
+16.43%
598.18
+55.08%
385.72
Selling General And Administration
275.17
-34.78%
421.94
+13.86%
370.56
+64.49%
225.28
Selling And Marketing Expense
64.85
-32.92%
96.68
+19.33%
81.02
+61.01%
50.32
General And Administrative Expense
210.32
-35.34%
325.26
+12.33%
289.54
+65.49%
174.96
Other Gand A
210.32
-35.34%
325.26
+12.33%
289.54
+65.49%
174.96
Other Operating Expenses
97.42
-28.24%
135.76
+24.60%
108.96
+11.45%
97.76
Total Expenses
1,679.80
-20.01%
2,100.10
+33.24%
1,576.19
+55.25%
1,015.29
Operating Income
-288.65
+46.56%
-540.09
+4.43%
-565.13
-51.95%
-371.92
Total Operating Income As Reported
-349.08
+47.74%
-667.93
-14.92%
-581.18
-55.20%
-374.46
EBITDA
-266.19
+59.43%
-656.06
-9.98%
-596.54
-94.47%
-306.75
Normalized EBITDA
-115.76
+68.09%
-362.76
+15.44%
-429.02
-44.29%
-297.32
Reconciled Depreciation
169.68
+4.00%
163.15
+22.30%
133.40
+79.60%
74.28
EBIT
-435.87
+46.79%
-819.21
-12.23%
-729.94
-91.57%
-381.03
Total Unusual Items
-150.42
+48.71%
-293.30
-75.08%
-167.52
-1677.05%
-9.43
Total Unusual Items Excluding Goodwill
-150.42
+48.71%
-293.30
-75.08%
-167.52
-1677.05%
-9.43
Special Income Charges
-88.03
+42.81%
-153.94
-858.64%
-16.06
-530.22%
-2.55
Other Special Charges
10.66
—
—
—
Impairment Of Capital Assets
56.29
-49.49%
111.43
+1442.72%
7.22
+620.92%
1.00
Restructuring And Mergern Acquisition
16.94
-35.11%
26.11
0.00
0.00
Net Income
-412.08
+52.97%
-876.25
-17.99%
-742.65
-94.55%
-381.72
Pretax Income
-458.31
+45.41%
-839.63
-12.74%
-744.75
-94.49%
-382.93
Net Non Operating Interest Income Expense
-19.25
-208.56%
-6.24
+48.46%
-12.10
-662.93%
-1.59
Interest Expense Non Operating
22.45
+9.93%
20.42
+37.94%
14.80
+678.48%
1.90
Net Interest Income
-19.25
-208.56%
-6.24
+48.46%
-12.10
-662.93%
-1.59
Interest Expense
22.45
+9.93%
20.42
+37.94%
14.80
+678.48%
1.90
Interest Income Non Operating
3.20
-77.42%
14.18
+424.67%
2.70
+756.67%
0.32
Interest Income
3.20
-77.42%
14.18
+424.67%
2.70
+756.67%
0.32
Other Income Expense
-150.42
+48.71%
-293.30
-75.08%
-167.52
-1677.05%
-9.43
Other Non Operating Income Expenses
—
—
-4.49
+19.43%
-5.58
Gain On Sale Of Security
-62.39
+55.23%
-139.36
+7.99%
-151.46
-2101.84%
-6.88
Tax Provision
2.12
+2075.02%
0.10
0.00
0.00
Tax Rate For Calcs
0.00
+0.00%
0.00
0.00
0.00
Tax Effect Of Unusual Items
-37.61
+48.71%
-73.33
0.00
0.00
Net Income Including Noncontrolling Interests
-408.99
+53.15%
-872.93
-17.21%
-744.75
-94.49%
-382.93
Net Income From Continuing Operation Net Minority Interest
-463.53
+45.02%
-843.05
-13.52%
-742.65
-94.55%
-381.72
Net Income From Continuing And Discontinued Operation
-412.08
+52.97%
-876.25
-17.99%
-742.65
-94.55%
-381.72
Net Income Continuous Operations
-460.43
+45.17%
-839.73
-12.75%
-744.75
-94.49%
-382.93
Net Income Discontinuous Operations
51.44
+254.97%
-33.20
0.00
—
Minority Interests
-3.10
+6.85%
-3.32
-258.06%
2.10
+74.07%
1.21
Normalized Income
-350.71
+43.71%
-623.08
-8.34%
-575.12
-54.48%
-372.29
Net Income Common Stockholders
-412.08
+52.97%
-876.25
-17.99%
-742.65
-94.55%
-381.72
Diluted EPS
-12.70
+55.30%
-28.41
+2.00%
-28.99
-104.49%
-14.18
Basic EPS
-12.70
+55.30%
-28.41
+2.00%
-28.99
-104.49%
-14.18
Basic Average Shares
32.44
+5.21%
30.84
+20.37%
25.62
-4.85%
26.93
Diluted Average Shares
32.44
+5.21%
30.84
+20.37%
25.62
-4.85%
26.93
Diluted NI Availto Com Stockholders
-412.08
+52.97%
-876.25
-17.99%
-742.65
-94.55%
-381.72
Depreciation Amortization Depletion Income Statement
129.61
-6.57%
138.73
+16.92%
118.66
+89.31%
62.68
Depreciation And Amortization In Income Statement
129.61
-6.57%
138.73
+16.92%
118.66
+89.31%
62.68
Gain On Sale Of PPE
-4.15
+74.72%
-16.40
-85.67%
-8.84
-471.44%
-1.55
Other Taxes
—
—
—
0.00
Rent And Landing Fees
—
295.76
+24.88%
236.84
+59.86%
148.15
Rent Expense Supplemental
241.43
-16.62%
289.56
+22.26%
236.84
+59.86%
148.15
Line Item Trend 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,563.53
-29.43%
2,215.44
-16.15%
2,642.01
Current Assets
417.08
-9.06%
458.62
-42.44%
796.81
Cash Cash Equivalents And Short Term Investments
161.37
-28.51%
225.72
-63.29%
614.92
Cash And Cash Equivalents
152.37
-24.69%
202.31
-15.38%
239.08
Cash Financial
—
203.59
-14.84%
239.08
Other Short Term Investments
9.00
-61.54%
23.41
-93.77%
375.84
Receivables
170.75
+8.00%
158.10
+84.91%
85.50
Accounts Receivable
30.53
+10.76%
27.56
+390.66%
5.62
Gross Accounts Receivable
44.15
+35.75%
32.52
+307.87%
7.97
Allowance For Doubtful Accounts Receivable
-13.62
-174.68%
-4.96
-110.48%
-2.36
Other Receivables
12.36
-16.82%
14.86
+45.40%
10.22
Taxes Receivable
122.01
+5.47%
115.68
+66.05%
69.67
Inventory
37.58
-24.64%
49.87
-30.23%
71.47
Raw Materials
—
—
52.71
Finished Goods
29.21
-27.09%
40.06
-40.10%
66.88
Prepaid Assets
5.37
-7.42%
5.80
-49.88%
11.58
Current Deferred Assets
—
—
0.00
Restricted Cash
31.87
0.00
—
Assets Held For Sale Current
0.00
-100.00%
4.86
—
Other Current Assets
10.14
-28.94%
14.27
+6.95%
13.34
Total Non Current Assets
1,146.45
-34.74%
1,756.82
-4.79%
1,845.20
Net PPE
995.47
-31.41%
1,451.43
-12.93%
1,666.91
Gross PPE
1,517.25
-19.59%
1,886.86
+0.04%
1,886.04
Accumulated Depreciation
-521.79
-19.83%
-435.43
-98.70%
-219.14
Properties
0.00
0.00
0.00
Machinery Furniture Equipment
217.58
+5.88%
205.50
+80.18%
114.05
Construction In Progress
1.32
-78.04%
6.00
-73.88%
22.97
Other Properties
706.38
-30.31%
1,013.53
-11.58%
1,146.24
Leases
591.98
-10.55%
661.83
+9.80%
602.79
Goodwill And Other Intangible Assets
97.02
-12.57%
110.97
+15.57%
96.02
Other Intangible Assets
97.02
-12.57%
110.97
+15.57%
96.02
Non Current Prepaid Assets
53.97
-15.48%
63.85
-22.38%
82.27
Other Non Current Assets
—
130.57
+58.71%
82.27
Total Liabilities Net Minority Interest
2,396.55
-9.15%
2,637.87
+4.19%
2,531.71
Current Liabilities
1,535.93
+10.04%
1,395.83
+5.88%
1,318.26
Payables And Accrued Expenses
446.35
-16.08%
531.90
+24.59%
426.92
Payables
357.72
-10.41%
399.30
+45.50%
274.44
Accounts Payable
223.84
+1.85%
219.77
+107.98%
105.67
Other Payable
75.33
-35.39%
116.60
-16.47%
139.58
Current Accrued Expenses
88.63
-33.15%
132.59
-13.04%
152.47
Total Tax Payable
10.44
-4.55%
10.93
+62.98%
6.71
Current Debt And Capital Lease Obligation
1,033.09
+41.90%
728.07
+23.76%
588.28
Current Debt
854.98
+58.85%
538.23
+31.98%
407.81
Other Current Borrowings
478.98
+4309.20%
10.86
-48.24%
20.99
Current Capital Lease Obligation
178.12
-6.17%
189.83
+5.19%
180.47
Current Deferred Liabilities
39.68
-2.55%
40.71
+84.04%
22.12
Current Deferred Revenue
39.68
-2.55%
40.71
+84.04%
22.12
Other Current Liabilities
16.81
-82.34%
95.15
-66.13%
280.95
Total Non Current Liabilities Net Minority Interest
860.62
-30.71%
1,242.04
+2.36%
1,213.44
Liabilities Heldfor Sale Non Current
0.00
-100.00%
54.29
—
Long Term Debt And Capital Lease Obligation
844.92
-21.74%
1,079.64
-8.75%
1,183.13
Long Term Debt
464.85
+9.12%
425.98
+17.39%
362.88
Long Term Capital Lease Obligation
380.08
-41.85%
653.66
-20.31%
820.25
Tradeand Other Payables Non Current
0.00
0.00
0.00
Non Current Deferred Liabilities
8.02
+52.17%
5.27
+59.21%
3.31
Non Current Deferred Revenue
8.02
+52.17%
5.27
+59.21%
3.31
Other Non Current Liabilities
7.67
-11.16%
8.64
+9.05%
7.92
Stockholders Equity
-840.89
-96.83%
-427.21
-492.47%
108.85
Common Stock Equity
-840.89
-96.83%
-427.21
-492.47%
108.85
Capital Stock
0.01
+0.00%
0.01
+12.96%
0.01
Common Stock
0.01
+0.00%
0.01
+12.96%
0.01
Preferred Stock
0.00
0.00
—
Share Issued
33.24
+0.00%
33.24
+5.59%
31.48
Ordinary Shares Number
32.01
+1.14%
31.65
+6.08%
29.84
Treasury Shares Number
1.23
-22.64%
1.59
-3.31%
1.65
Additional Paid In Capital
1,818.42
+0.59%
1,807.72
+22.81%
1,472.01
Retained Earnings
-2,668.51
-18.26%
-2,256.42
-63.49%
-1,380.17
Gains Losses Not Affecting Retained Earnings
9.18
-57.26%
21.49
+26.42%
17.00
Treasury Stock
0.00
0.00
0.00
Minority Interest
7.87
+64.81%
4.78
+228.65%
1.45
Other Equity Adjustments
9.18
-57.26%
21.49
+26.42%
17.00
Total Equity Gross Minority Interest
-833.02
-97.20%
-422.43
-482.97%
110.30
Total Capitalization
-376.04
-30519.06%
-1.23
-100.26%
471.73
Working Capital
-1,118.85
-19.38%
-937.21
-79.73%
-521.45
Invested Capital
478.94
-10.81%
537.00
-38.94%
879.54
Total Debt
1,878.02
+3.89%
1,807.70
+2.05%
1,771.41
Net Debt
1,167.46
+53.23%
761.90
+43.32%
531.61
Capital Lease Obligations
558.19
-33.82%
843.49
-15.71%
1,000.72
Net Tangible Assets
-937.91
-74.28%
-538.17
-4293.86%
12.83
Tangible Book Value
-937.91
-74.28%
-538.17
-4293.86%
12.83
Derivative Product Liabilities
—
0.00
-100.00%
19.08
Duefrom Related Parties Current
5.86
0.00
—
Dueto Related Parties Current
48.12
-7.47%
52.00
+131.27%
22.48
Dueto Related Parties Non Current
0.00
-100.00%
94.20
0.00
Line Of Credit
376.00
-28.70%
527.37
+36.33%
386.82
Other Inventories
8.37
-14.66%
9.81
+113.69%
4.59
Line Item Trend 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow
-39.67
+79.78%
-196.13
+31.65%
-286.93
-17.13%
-244.97
Cash Flow From Continuing Operating Activities
-46.38
+76.59%
-198.14
+30.94%
-286.93
-17.13%
-244.97
Cash From Discontinued Operating Activities
6.71
+234.14%
2.01
0.00
—
Net Income From Continuing Operations
-460.43
+45.17%
-839.73
-12.75%
-744.75
-94.49%
-382.93
Depreciation Amortization Depletion
169.68
+4.00%
163.15
+22.30%
133.40
+79.60%
74.28
Depreciation And Amortization
169.68
+4.00%
163.15
+22.30%
133.40
+79.60%
74.28
Other Non Cash Items
26.00
-0.43%
26.11
+480.97%
4.49
-19.43%
5.58
Stock Based Compensation
1.05
-98.38%
64.48
-13.67%
74.69
0.00
Provisionand Write Offof Assets
12.07
-14.96%
14.19
+417.19%
2.74
0.00
Asset Impairment Charge
56.29
-49.49%
111.43
+1442.72%
7.22
+620.92%
1.00
Operating Gains Losses
13.72
-84.11%
86.33
-43.17%
151.90
+6300.63%
2.37
Gain Loss On Investment Securities
—
64.31
-54.29%
140.69
—
Unrealized Gain Loss On Investment Securities
65.87
+13.03%
58.28
+1196.97%
4.49
-19.43%
5.58
Net Foreign Currency Exchange Gain Loss
-1.21
-124.36%
4.97
+109.63%
2.37
+186.44%
0.83
Gain Loss On Sale Of PPE
4.27
-74.94%
17.05
+92.99%
8.84
+471.44%
1.55
Change In Working Capital
69.38
-41.02%
117.63
+41.09%
83.37
+52.32%
54.73
Change In Receivables
-12.72
+48.18%
-24.55
-1431.15%
1.84
+200.27%
-1.84
Changes In Account Receivables
-11.63
+52.64%
-24.55
-1431.15%
1.84
+200.27%
-1.84
Change In Inventory
8.88
-11.30%
10.01
+134.08%
-29.38
+5.77%
-31.17
Change In Prepaid Assets
-2.03
+95.83%
-48.58
-401.95%
16.09
+144.44%
-36.20
Change In Payables And Accrued Expense
134.45
-2.51%
137.91
+159.57%
53.13
+7.04%
49.64
Change In Payable
134.45
-2.51%
137.91
+159.57%
53.13
+7.04%
49.64
Change In Account Payable
4.06
-96.28%
109.14
+144.04%
44.72
-1.83%
45.56
Change In Other Working Capital
1.71
-91.67%
20.55
+98.89%
10.33
-11.72%
11.71
Change In Other Current Assets
9.89
-46.31%
18.42
+223.11%
-14.96
+57.86%
-35.50
Change In Other Current Liabilities
-70.81
-1933.67%
3.86
-91.66%
46.31
-52.80%
98.11
Investing Cash Flow
-8.04
-113.39%
60.00
+108.51%
-705.17
-110.33%
-335.28
Cash Flow From Continuing Investing Activities
-75.83
-224.86%
60.74
+108.61%
-705.17
-110.33%
-335.28
Cash From Discontinued Investing Activities
67.80
+9291.11%
-0.74
0.00
—
Net PPE Purchase And Sale
-93.00
+68.08%
-291.40
+13.00%
-334.93
+0.10%
-335.28
Purchase Of PPE
-102.84
+64.74%
-291.67
+12.92%
-334.93
+0.12%
-335.32
Sale Of PPE
9.84
+3524.96%
0.27
0.00
-100.00%
0.04
Capital Expenditure
-102.84
+64.74%
-291.67
+12.92%
-334.93
+0.12%
-335.32
Net Investment Purchase And Sale
17.17
-95.13%
352.13
+195.11%
-370.24
0.00
Purchase Of Investment
0.00
+100.00%
-17.17
+95.36%
-370.24
0.00
Sale Of Investment
17.17
-95.35%
369.30
0.00
0.00
Financing Cash Flow
26.00
-67.83%
80.83
-90.23%
827.16
+3.65%
798.00
Cash Flow From Continuing Financing Activities
26.00
-67.83%
80.83
-90.23%
827.16
+3.65%
798.00
Net Issuance Payments Of Debt
21.40
-83.13%
126.89
-40.33%
212.65
-58.79%
516.05
Issuance Of Debt
883.70
-11.97%
1,003.89
+41.88%
707.58
+35.72%
521.35
Repayment Of Debt
-862.30
+1.68%
-877.00
-77.20%
-494.93
-9238.31%
-5.30
Long Term Debt Issuance
883.70
-11.97%
1,003.89
+41.88%
707.58
+35.72%
521.35
Long Term Debt Payments
-862.30
+1.68%
-877.00
-77.20%
-494.93
-9238.31%
-5.30
Net Long Term Debt Issuance
21.40
-83.13%
126.89
-40.33%
212.65
-58.79%
516.05
Short Term Debt Issuance
—
—
—
194.26
Short Term Debt Payments
—
—
—
-5.30
Net Short Term Debt Issuance
—
—
—
188.96
Net Common Stock Issuance
0.00
0.00
-100.00%
24.24
-91.68%
291.26
Common Stock Payments
—
0.00
0.00
+100.00%
-0.14
Repurchase Of Capital Stock
—
0.00
0.00
+100.00%
-0.14
Proceeds From Stock Option Exercised
8.38
+493.66%
1.41
-99.55%
316.43
0.00
Net Other Financing Charges
-3.78
+92.03%
-47.47
-117.33%
273.85
+3041.35%
-9.31
Changes In Cash
-21.70
+60.76%
-55.30
+66.47%
-164.94
-175.75%
217.75
Effect Of Exchange Rate Changes
2.35
-88.13%
19.81
+50.27%
13.18
+836.07%
-1.79
Beginning Cash Position
203.59
-14.84%
239.08
-38.83%
390.84
+123.50%
174.87
End Cash Position
184.24
-9.50%
203.59
-14.84%
239.08
-38.83%
390.84
Free Cash Flow
-142.51
+70.79%
-487.80
+21.56%
-621.86
-7.16%
-580.28
Interest Paid Supplemental Data
—
20.05
+46.57%
13.68
+823.39%
1.48
Common Stock Issuance
0.00
0.00
-100.00%
24.24
-91.68%
291.39
Issuance Of Capital Stock
0.00
0.00
-100.00%
24.24
-91.68%
291.39
Net Preferred Stock Issuance
0.00
0.00
0.00
—
Preferred Stock Issuance
0.00
0.00
0.00
—
SEC Filings

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