Symbols / THCH Stock $2.01 -0.50% TH International Limited

Consumer Cyclical • Restaurants • China • NCM
THCH (Stock) Chart
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Stock Fundamentals
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Index EQUITY
Sector Consumer Cyclical
Industry Restaurants
CEO Mr. Yongchen Lu
Exch · Country NCM · China
Market Cap 64.39M
Enterprise Value 1.92B
Income -434.49M
Sales 1.32B
FCF (ttm) -43.38M
Book/sh -4.62
Cash/sh 3.75
Employees
Insider 10d
IPO Mar 11, 2021
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E
Forward P/E -0.43
PEG
P/S 0.05
P/B -0.43
P/C
EV/EBITDA -18.43
EV/Sales 1.46
Quick Ratio 0.14
Current Ratio 0.33
Debt/Eq
LT Debt/Eq
EPS (ttm) -1.97
EPS next Y -4.72
EPS Growth
Revenue Growth -7.30%
EPS Gr Q/Q
Rev Gr Q/Q
Earnings (next) 2026-06-23
Earnings (prior)
ROA -11.43%
ROE
ROIC
Gross Margin 38.85%
Oper. Margin -27.94%
Profit Margin -33.01%
Shs Outstand 32.04M
Shs Float 8.71M
Insider Own 12.41%
Instit Own 61.01%
Short Float 0.48%
Short Ratio 12.99
Short Interest 55.55K
52W High 3.25
vs 52W High -38.15%
52W Low 1.69
vs 52W Low 19.29%
Beta 0.52
Impl. Vol. 50.00%
Rel Volume 0.27
Avg Volume 5.51K
Volume 1.47K
Target (mean)
Tgt Median
Tgt Low
Tgt High
# Analysts
Recom None
Prev Close $2.02
Price $2.01
Change -0.50%
About

TH International Limited, together with its subsidiaries, develops, operates, and franchises coffee shops under the Tim Hortons brand in Mainland China, Hong Kong, and Macau. The company's stores offer coffee, alternative beverages, sandwiches, and baked goods. TH International Limited was founded in 2018 and is headquartered in Shanghai, the People's Republic of China.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$2.01
Low
High
Mean
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 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,316.20
-5.39%
1,391.16
-10.82%
1,560.01
+54.29%
1,011.06
Operating Revenue
1,068.17
-10.11%
1,188.29
-14.49%
1,389.64
+48.13%
938.10
Cost Of Revenue
1,106.89
-6.00%
1,177.60
-16.11%
1,403.67
+43.52%
978.01
Reconciled Cost Of Revenue
1,068.02
-6.11%
1,137.53
-17.53%
1,379.25
+43.18%
963.27
Gross Profit
209.31
-1.99%
213.56
+36.60%
156.34
+373.01%
33.05
Operating Expense
459.87
-8.43%
502.21
-27.89%
696.43
+16.43%
598.18
Selling General And Administration
267.80
-2.68%
275.17
-34.78%
421.94
+13.86%
370.56
Selling And Marketing Expense
63.46
-2.15%
64.85
-32.92%
96.68
+19.33%
81.02
General And Administrative Expense
204.34
-2.84%
210.32
-35.34%
325.26
+12.33%
289.54
Other Gand A
204.34
-2.84%
210.32
-35.34%
325.26
+12.33%
289.54
Other Operating Expenses
84.14
-13.63%
97.42
-28.24%
135.76
+24.60%
108.96
Total Expenses
1,566.76
-6.73%
1,679.80
-20.01%
2,100.10
+33.24%
1,576.19
Operating Income
-250.56
+13.19%
-288.65
+46.56%
-540.09
+4.43%
-565.13
Total Operating Income As Reported
-317.35
+9.09%
-349.08
+47.74%
-667.93
-14.92%
-581.18
EBITDA
-271.85
-2.13%
-266.19
+59.43%
-656.06
-9.98%
-596.54
Normalized EBITDA
-100.24
+13.41%
-115.76
+68.09%
-362.76
+15.44%
-429.02
Reconciled Depreciation
146.80
-13.49%
169.68
+4.00%
163.15
+22.30%
133.40
EBIT
-418.65
+3.95%
-435.87
+46.79%
-819.21
-12.23%
-729.94
Total Unusual Items
-171.61
-14.09%
-150.42
+48.71%
-293.30
-75.08%
-167.52
Total Unusual Items Excluding Goodwill
-171.61
-14.09%
-150.42
+48.71%
-293.30
-75.08%
-167.52
Special Income Charges
-139.87
-58.88%
-88.03
+42.81%
-153.94
-858.64%
-16.06
Other Special Charges
73.08
+585.72%
10.66
Impairment Of Capital Assets
60.32
+7.16%
56.29
-49.49%
111.43
+1442.72%
7.22
Restructuring And Mergern Acquisition
0.00
-100.00%
16.94
-35.11%
26.11
0.00
Net Income
-434.49
-5.44%
-412.08
+52.97%
-876.25
-17.99%
-742.65
Pretax Income
-435.33
+5.02%
-458.31
+45.41%
-839.63
-12.74%
-744.75
Net Non Operating Interest Income Expense
-13.15
+31.67%
-19.25
-208.56%
-6.24
+48.46%
-12.10
Interest Expense Non Operating
16.68
-25.70%
22.45
+9.93%
20.42
+37.94%
14.80
Net Interest Income
-13.15
+31.67%
-19.25
-208.56%
-6.24
+48.46%
-12.10
Interest Expense
16.68
-25.70%
22.45
+9.93%
20.42
+37.94%
14.80
Interest Income Non Operating
3.53
+10.15%
3.20
-77.42%
14.18
+424.67%
2.70
Interest Income
3.53
+10.15%
3.20
-77.42%
14.18
+424.67%
2.70
Other Income Expense
-171.61
-14.09%
-150.42
+48.71%
-293.30
-75.08%
-167.52
Other Non Operating Income Expenses
-4.49
Gain On Sale Of Security
-31.75
+49.12%
-62.39
+55.23%
-139.36
+7.99%
-151.46
Tax Provision
0.48
-77.13%
2.12
+2075.02%
0.10
0.00
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
0.00
Tax Effect Of Unusual Items
-42.90
-14.09%
-37.61
+48.71%
-73.33
0.00
Net Income Including Noncontrolling Interests
-435.81
-6.56%
-408.99
+53.15%
-872.93
-17.21%
-744.75
Net Income From Continuing Operation Net Minority Interest
-434.49
+6.26%
-463.53
+45.02%
-843.05
-13.52%
-742.65
Net Income From Continuing And Discontinued Operation
-434.49
-5.44%
-412.08
+52.97%
-876.25
-17.99%
-742.65
Net Income Continuous Operations
-435.81
+5.35%
-460.43
+45.17%
-839.73
-12.75%
-744.75
Net Income Discontinuous Operations
0.00
-100.00%
51.44
+254.97%
-33.20
0.00
Minority Interests
1.32
+142.74%
-3.10
+6.85%
-3.32
-258.06%
2.10
Normalized Income
-305.78
+12.81%
-350.71
+43.71%
-623.08
-8.34%
-575.12
Net Income Common Stockholders
-434.49
-5.44%
-412.08
+52.97%
-876.25
-17.99%
-742.65
Diluted EPS
-12.70
+55.30%
-28.41
+2.00%
-28.99
Basic EPS
-12.70
+55.30%
-28.41
+2.00%
-28.99
Basic Average Shares
32.44
+5.21%
30.84
+20.37%
25.62
Diluted Average Shares
32.44
+5.21%
30.84
+20.37%
25.62
Diluted NI Availto Com Stockholders
-434.49
-5.44%
-412.08
+52.97%
-876.25
-17.99%
-742.65
Depreciation Amortization Depletion Income Statement
107.93
-16.73%
129.61
-6.57%
138.73
+16.92%
118.66
Depreciation And Amortization In Income Statement
107.93
-16.73%
129.61
-6.57%
138.73
+16.92%
118.66
Gain On Sale Of PPE
-6.47
-56.01%
-4.15
+74.72%
-16.40
-85.67%
-8.84
Other Taxes
Rent And Landing Fees
295.76
+24.88%
236.84
Rent Expense Supplemental
220.88
-8.51%
241.43
-16.62%
289.56
+22.26%
236.84
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,176.68
-24.74%
1,563.53
-29.43%
2,215.44
-16.15%
2,642.01
Current Assets
326.63
-21.69%
417.08
-9.06%
458.62
-42.44%
796.81
Cash Cash Equivalents And Short Term Investments
134.67
-16.55%
161.37
-28.51%
225.72
-63.29%
614.92
Cash And Cash Equivalents
121.79
-20.07%
152.37
-24.69%
202.31
-15.38%
239.08
Cash Financial
203.59
-14.84%
239.08
Other Short Term Investments
12.87
+42.99%
9.00
-61.54%
23.41
-93.77%
375.84
Receivables
129.56
-24.12%
170.75
+8.00%
158.10
+84.91%
85.50
Accounts Receivable
17.69
-42.04%
30.53
+10.76%
27.56
+390.66%
5.62
Gross Accounts Receivable
35.05
-20.61%
44.15
+35.75%
32.52
+307.87%
7.97
Allowance For Doubtful Accounts Receivable
-17.36
-27.43%
-13.62
-174.68%
-4.96
-110.48%
-2.36
Other Receivables
12.61
+2.06%
12.36
-16.82%
14.86
+45.40%
10.22
Taxes Receivable
99.06
-18.81%
122.01
+5.47%
115.68
+66.05%
69.67
Inventory
36.79
-2.09%
37.58
-24.64%
49.87
-30.23%
71.47
Raw Materials
52.71
Finished Goods
29.46
+0.87%
29.21
-27.09%
40.06
-40.10%
66.88
Prepaid Assets
5.65
+5.20%
5.37
-7.42%
5.80
-49.88%
11.58
Current Deferred Assets
0.00
Restricted Cash
7.92
-75.16%
31.87
0.00
Assets Held For Sale Current
0.00
-100.00%
4.86
Other Current Assets
12.04
+18.73%
10.14
-28.94%
14.27
+6.95%
13.34
Total Non Current Assets
850.05
-25.85%
1,146.45
-34.74%
1,756.82
-4.79%
1,845.20
Net PPE
680.99
-31.59%
995.47
-31.41%
1,451.43
-12.93%
1,666.91
Gross PPE
1,319.84
-13.01%
1,517.25
-19.59%
1,886.86
+0.04%
1,886.04
Accumulated Depreciation
-638.85
-22.44%
-521.79
-19.83%
-435.43
-98.70%
-219.14
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
230.90
+6.12%
217.58
+5.88%
205.50
+80.18%
114.05
Construction In Progress
0.10
-92.16%
1.32
-78.04%
6.00
-73.88%
22.97
Other Properties
538.61
-23.75%
706.38
-30.31%
1,013.53
-11.58%
1,146.24
Leases
550.22
-7.05%
591.98
-10.55%
661.83
+9.80%
602.79
Goodwill And Other Intangible Assets
81.01
-16.50%
97.02
-12.57%
110.97
+15.57%
96.02
Other Intangible Assets
81.01
-16.50%
97.02
-12.57%
110.97
+15.57%
96.02
Non Current Accounts Receivable
42.96
Non Current Prepaid Assets
45.09
-16.45%
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
2,413.11
+0.69%
2,396.55
-9.15%
2,637.87
+4.19%
2,531.71
Current Liabilities
1,002.26
-34.75%
1,535.93
+10.04%
1,395.83
+5.88%
1,318.26
Payables And Accrued Expenses
363.83
-18.49%
446.35
-16.08%
531.90
+24.59%
426.92
Payables
261.38
-26.93%
357.72
-10.41%
399.30
+45.50%
274.44
Accounts Payable
199.15
-11.03%
223.84
+1.85%
219.77
+107.98%
105.67
Other Payable
29.50
-60.84%
75.33
-35.39%
116.60
-16.47%
139.58
Current Accrued Expenses
102.45
+15.58%
88.63
-33.15%
132.59
-13.04%
152.47
Total Tax Payable
15.32
+46.79%
10.44
-4.55%
10.93
+62.98%
6.71
Current Debt And Capital Lease Obligation
575.89
-44.26%
1,033.09
+41.90%
728.07
+23.76%
588.28
Current Debt
395.09
-53.79%
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
180.81
+1.51%
178.12
-6.17%
189.83
+5.19%
180.47
Current Deferred Liabilities
37.20
-6.25%
39.68
-2.55%
40.71
+84.04%
22.12
Current Deferred Revenue
37.20
-6.25%
39.68
-2.55%
40.71
+84.04%
22.12
Other Current Liabilities
25.35
+50.79%
16.81
-82.34%
95.15
-66.13%
280.95
Total Non Current Liabilities Net Minority Interest
1,410.85
+63.93%
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
1,393.01
+64.87%
844.92
-21.74%
1,079.64
-8.75%
1,183.13
Long Term Debt
1,152.72
+147.98%
464.85
+9.12%
425.98
+17.39%
362.88
Long Term Capital Lease Obligation
240.28
-36.78%
380.08
-41.85%
653.66
-20.31%
820.25
Long Term Provisions
7.59
+1.14%
7.51
Tradeand Other Payables Non Current
0.00
0.00
0.00
Non Current Deferred Liabilities
10.13
+26.32%
8.02
+52.17%
5.27
+59.21%
3.31
Non Current Deferred Revenue
10.13
+26.32%
8.02
+52.17%
5.27
+59.21%
3.31
Other Non Current Liabilities
0.12
-28.57%
0.17
-98.07%
8.64
+9.05%
7.92
Stockholders Equity
-1,242.99
-47.82%
-840.89
-96.83%
-427.21
-492.47%
108.85
Common Stock Equity
-1,242.99
-47.82%
-840.89
-96.83%
-427.21
-492.47%
108.85
Capital Stock
0.01
+0.00%
0.01
+0.00%
0.01
+12.96%
0.01
Common Stock
0.01
+0.00%
0.01
+0.00%
0.01
+12.96%
0.01
Preferred Stock
0.00
0.00
0.00
Share Issued
33.24
+0.00%
33.24
+0.00%
33.24
+5.59%
31.48
Ordinary Shares Number
32.04
+0.08%
32.01
+1.14%
31.65
+6.08%
29.84
Treasury Shares Number
1.21
-2.11%
1.23
-22.64%
1.59
-3.31%
1.65
Additional Paid In Capital
1,821.61
+0.18%
1,818.42
+0.59%
1,807.72
+22.81%
1,472.01
Retained Earnings
-3,102.99
-16.28%
-2,668.51
-18.26%
-2,256.42
-63.49%
-1,380.17
Gains Losses Not Affecting Retained Earnings
38.39
+318.01%
9.18
-57.26%
21.49
+26.42%
17.00
Treasury Stock
0.00
0.00
0.00
0.00
Minority Interest
6.55
-16.81%
7.87
+64.81%
4.78
+228.65%
1.45
Other Equity Adjustments
38.39
+318.01%
9.18
-57.26%
21.49
+26.42%
17.00
Total Equity Gross Minority Interest
-1,236.43
-48.43%
-833.02
-97.20%
-422.43
-482.97%
110.30
Total Capitalization
-90.26
+76.00%
-376.04
-30519.06%
-1.23
-100.26%
471.73
Working Capital
-675.64
+39.61%
-1,118.85
-19.38%
-937.21
-79.73%
-521.45
Invested Capital
304.83
-36.35%
478.94
-10.81%
537.00
-38.94%
879.54
Total Debt
1,968.90
+4.84%
1,878.02
+3.89%
1,807.70
+2.05%
1,771.41
Net Debt
1,426.02
+22.15%
1,167.46
+53.23%
761.90
+43.32%
531.61
Capital Lease Obligations
421.09
-24.56%
558.19
-33.82%
843.49
-15.71%
1,000.72
Net Tangible Assets
-1,324.00
-41.17%
-937.91
-74.28%
-538.17
-4293.86%
12.83
Tangible Book Value
-1,324.00
-41.17%
-937.91
-74.28%
-538.17
-4293.86%
12.83
Derivative Product Liabilities
0.00
-100.00%
19.08
Duefrom Related Parties Current
0.19
-96.68%
5.86
0.00
Dueto Related Parties Current
17.41
-63.81%
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
395.09
+5.08%
376.00
-28.70%
527.37
+36.33%
386.82
Other Inventories
7.33
-12.42%
8.37
-14.66%
9.81
+113.69%
4.59
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-12.71
+67.97%
-39.67
+79.78%
-196.13
+31.65%
-286.93
Cash Flow From Continuing Operating Activities
-12.71
+72.60%
-46.38
+76.59%
-198.14
+30.94%
-286.93
Cash From Discontinued Operating Activities
0.00
-100.00%
6.71
+234.14%
2.01
0.00
Net Income From Continuing Operations
-435.81
+5.35%
-460.43
+45.17%
-839.73
-12.75%
-744.75
Depreciation Amortization Depletion
146.80
-13.49%
169.68
+4.00%
163.15
+22.30%
133.40
Depreciation And Amortization
146.80
-13.49%
169.68
+4.00%
163.15
+22.30%
133.40
Other Non Cash Items
13.61
-47.65%
26.00
-0.43%
26.11
+480.97%
4.49
Stock Based Compensation
2.87
+175.07%
1.05
-98.38%
64.48
-13.67%
74.69
Provisionand Write Offof Assets
6.53
-45.93%
12.07
-14.96%
14.19
+417.19%
2.74
Asset Impairment Charge
60.32
+7.16%
56.29
-49.49%
111.43
+1442.72%
7.22
Operating Gains Losses
80.16
+484.27%
13.72
-84.11%
86.33
-43.17%
151.90
Gain Loss On Investment Securities
64.31
-54.29%
140.69
Unrealized Gain Loss On Investment Securities
30.63
-53.51%
65.87
+13.03%
58.28
+1196.97%
4.49
Net Foreign Currency Exchange Gain Loss
0.62
+150.88%
-1.21
-124.36%
4.97
+109.63%
2.37
Gain Loss On Sale Of PPE
6.47
+51.42%
4.27
-74.94%
17.05
+92.99%
8.84
Change In Working Capital
82.19
+18.47%
69.38
-41.02%
117.63
+41.09%
83.37
Change In Receivables
10.00
+178.59%
-12.72
+48.18%
-24.55
-1431.15%
1.84
Changes In Account Receivables
9.10
+178.25%
-11.63
+52.64%
-24.55
-1431.15%
1.84
Change In Inventory
-2.00
-122.56%
8.88
-11.30%
10.01
+134.08%
-29.38
Change In Prepaid Assets
16.65
+921.20%
-2.03
+95.83%
-48.58
-401.95%
16.09
Change In Payables And Accrued Expense
59.89
-55.46%
134.45
-2.51%
137.91
+159.57%
53.13
Change In Payable
59.89
-55.46%
134.45
-2.51%
137.91
+159.57%
53.13
Change In Account Payable
-24.69
-707.61%
4.06
-96.28%
109.14
+144.04%
44.72
Change In Other Working Capital
-0.75
-143.58%
1.71
-91.67%
20.55
+98.89%
10.33
Change In Other Current Assets
-34.08
-444.71%
9.89
-46.31%
18.42
+223.11%
-14.96
Change In Other Current Liabilities
32.50
+145.89%
-70.81
-1933.67%
3.86
-91.66%
46.31
Investing Cash Flow
-62.83
-681.83%
-8.04
-113.39%
60.00
+108.51%
-705.17
Cash Flow From Continuing Investing Activities
-62.83
+17.14%
-75.83
-224.86%
60.74
+108.61%
-705.17
Cash From Discontinued Investing Activities
0.00
-100.00%
67.80
+9291.11%
-0.74
0.00
Net PPE Purchase And Sale
-62.83
+32.44%
-93.00
+68.08%
-291.40
+13.00%
-334.93
Purchase Of PPE
-65.62
+36.19%
-102.84
+64.74%
-291.67
+12.92%
-334.93
Sale Of PPE
2.79
-71.69%
9.84
+3524.96%
0.27
0.00
Capital Expenditure
-65.62
+36.19%
-102.84
+64.74%
-291.67
+12.92%
-334.93
Net Investment Purchase And Sale
0.00
-100.00%
17.17
-95.13%
352.13
+195.11%
-370.24
Purchase Of Investment
0.00
0.00
+100.00%
-17.17
+95.36%
-370.24
Sale Of Investment
0.00
-100.00%
17.17
-95.35%
369.30
0.00
Financing Cash Flow
21.70
-16.54%
26.00
-67.83%
80.83
-90.23%
827.16
Cash Flow From Continuing Financing Activities
21.70
-16.54%
26.00
-67.83%
80.83
-90.23%
827.16
Net Issuance Payments Of Debt
33.05
+54.39%
21.40
-83.13%
126.89
-40.33%
212.65
Issuance Of Debt
777.88
-11.97%
883.70
-11.97%
1,003.89
+41.88%
707.58
Repayment Of Debt
-744.84
+13.62%
-862.30
+1.68%
-877.00
-77.20%
-494.93
Long Term Debt Issuance
777.88
-11.97%
883.70
-11.97%
1,003.89
+41.88%
707.58
Long Term Debt Payments
-744.84
+13.62%
-862.30
+1.68%
-877.00
-77.20%
-494.93
Net Long Term Debt Issuance
33.05
+54.39%
21.40
-83.13%
126.89
-40.33%
212.65
Short Term Debt Issuance
Short Term Debt Payments
Net Short Term Debt Issuance
Net Common Stock Issuance
0.00
0.00
-100.00%
24.24
Common Stock Payments
0.00
0.00
Repurchase Of Capital Stock
0.00
0.00
Proceeds From Stock Option Exercised
0.02
-99.80%
8.38
+493.66%
1.41
-99.55%
316.43
Net Other Financing Charges
-11.36
-200.14%
-3.78
+92.03%
-47.47
-117.33%
273.85
Changes In Cash
-53.84
-148.10%
-21.70
+60.76%
-55.30
+66.47%
-164.94
Effect Of Exchange Rate Changes
-0.69
-129.28%
2.35
-88.13%
19.81
+50.27%
13.18
Beginning Cash Position
184.24
-9.50%
203.59
-14.84%
239.08
-38.83%
390.84
End Cash Position
129.71
-29.60%
184.24
-9.50%
203.59
-14.84%
239.08
Free Cash Flow
-78.33
+45.04%
-142.51
+70.79%
-487.80
+21.56%
-621.86
Interest Paid Supplemental Data
20.05
+46.57%
13.68
Common Stock Issuance
0.00
0.00
-100.00%
24.24
Issuance Of Capital Stock
0.00
-100.00%
0.00
0.00
-100.00%
24.24
Net Preferred Stock Issuance
0.00
-100.00%
0.00
0.00
0.00
Preferred Stock Issuance
0.00
-100.00%
0.00
0.00
0.00
SEC Filings

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