THCH
TH International LtdTH International Ltd reported revenue of CNY 1.32B in its most recent fiscal year, down 5.4% on the year before. It kept -33.0% of that as net income, and generated -CNY 78.33M of free cash flow. Figures below are compared against other companies classified under Retail-Eating Places.
Grades vs. industry
Growth
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Revenue growth (YoY) Latest fiscal year revenue vs. the year before. | -5.4% | 4.5% | 38 / 44 |
Revenue growth (3y) Annualized revenue growth over three fiscal years. | 9.2% | 6.3% | 13 / 39 |
Revenue growth (5y) Annualized revenue growth over five fiscal years. | 44.1% | 10.8% | 2 / 36 |
EPS growth (YoY) Diluted EPS vs. the prior fiscal year. | Not reported | -0.8% | — |
EPS growth (3y) Annualized diluted EPS growth over three fiscal years. | Not reported | 13.7% | — |
EPS growth (5y) Annualized diluted EPS growth over five fiscal years. | Not reported | 8.0% | — |
Free cash flow growth (YoY) Operating cash flow less capital expenditure, vs. prior year. | Not reported | 6.5% | — |
Free cash flow growth (3y) Annualized free cash flow growth over three fiscal years. | Not reported | 4.2% | — |
top third of peersmiddle thirdbottom third. Rank 1 is always best — for debt and payout ratios that means the lowest figure, not the highest.
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Rankings are hidden where fewer than 5 classified peers reported the metric, and compare against a broad industry code rather than close competitors.
Profitability
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Gross margin Gross profit as a share of revenue. Often unreported. | 87.0% | 64.1% | 3 / 16 |
Operating margin Operating income as a share of revenue. | -24.1% | 3.7% | 36 / 40 |
Net margin Net income as a share of revenue. | -33.0% | 1.7% | 41 / 44 |
Free cash flow margin Free cash flow as a share of revenue. | -6.0% | 2.4% | 35 / 44 |
Return on equity Net income divided by shareholder equity. | Not reported | 5.0% | — |
Return on assets Net income divided by total assets. | -36.9% | 1.2% | 40 / 43 |
Return on invested capital After-tax operating profit over debt plus equity less cash. | Not reported | 5.3% | — |
top third of peersmiddle thirdbottom third. Rank 1 is always best — for debt and payout ratios that means the lowest figure, not the highest.
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Rankings are hidden where fewer than 5 classified peers reported the metric, and compare against a broad industry code rather than close competitors.
Financial health
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Debt to equity Total debt divided by shareholder equity. | Not reported | 0.51x | — |
Current ratio Current assets over current liabilities. | 0.33x | 0.82x | 37 / 44 |
Quick ratio Current assets excluding inventory, over current liabilities. | 0.29x | 0.73x | 36 / 44 |
Interest coverage Operating income divided by interest expense. | -19.03x | 1.10x | 21 / 26 |
Net debt to EBITDA Net debt over derived EBITDA. EBITDA is not a GAAP tag; it is computed. | Not reported | 2.42x | — |
top third of peersmiddle thirdbottom third. Rank 1 is always best — for debt and payout ratios that means the lowest figure, not the highest.
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Rankings are hidden where fewer than 5 classified peers reported the metric, and compare against a broad industry code rather than close competitors.
Annual financials
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | CNY 1.32B | CNY 1.39B | CNY 1.56B | CNY 1.01B | CNY 643.37M | CNY 212.08M |
| Operating income | -CNY 317.35M | -CNY 349.08M | -CNY 667.93M | -CNY 581.18M | -CNY 374.46M | -CNY 141.17M |
| Net income | -CNY 434.49M | -CNY 412.08M | -CNY 876.25M | -CNY 742.65M | -CNY 381.72M | -CNY 142.00M |
| EPS (diluted) | -CNY 13.36 | -CNY 12.70 | -CNY 28.41 | -CNY 28.99 | n/c | n/c |
| Operating cash flow | -CNY 12.71M | -CNY 39.67M | -CNY 196.13M | -CNY 286.93M | -CNY 244.97M | -CNY 145.77M |
| Capital expenditure | CNY 65.62M | CNY 102.84M | CNY 291.67M | CNY 334.93M | CNY 335.32M | CNY 144.75M |
| Free cash flow | -CNY 78.33M | -CNY 142.51M | -CNY 487.80M | -CNY 621.86M | -CNY 580.28M | -CNY 290.52M |
| Total assets | CNY 1.18B | CNY 1.56B | CNY 2.22B | CNY 2.64B | CNY 1.28B | — |
| Shareholder equity | -CNY 1.24B | -CNY 840.89M | -CNY 427.21M | CNY 108.85M | CNY 335.54M | CNY 433.05M |
| Total debt | CNY 395.09M | CNY 381.26M | CNY 26.99M | CNY 50.78M | CNY 18.10M | — |
| Cash | CNY 121.79M | CNY 152.37M | CNY 202.31M | CNY 239.08M | CNY 390.84M | CNY 174.87M |
A dash means the figure was not tagged in that year’s filing. It does not mean zero. Figures reflect the most recent filing covering each period, so restated years show their restated values.
Amounts are in CNY, as the company reports them. Nothing here is converted to dollars, so these figures cannot be compared directly against a company reporting in another currency. Margins, returns and other ratios are unaffected.
n/c marks per-share figures that are not comparable. Companies report each year as their filings stated it, and an annual report restates only its two prior years — so after a stock split, older years remain on the pre-split share count. Totals above are unaffected.
Source
Figures come from TH International Ltd’s filings with the SEC, as submitted in XBRL. The most recent annual figures are from a 20-F filed Apr 30, 2026. View filings on EDGAR.