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TH International Limited
$45M
Market Cap
P/E
PEG
-314.5%
ROCE
42.1%
ROE
-1.13
D/E
-24.1%
OPM
-50.4%
% from 52W High
13
α RS
🌏 Global Investor Returns
Currency-adjusted total returns for THCH including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
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.

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📈 Growth Pattern
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q1 2026 Q1 2026 2026-06-09
Revenue and system sales declined year-over-year due to store closures and lower same-store sales, but franchise expansion and product innovation drove engagement. Management expects sales recovery and margin improvement in 2026, supported by new financing and leadership transition.
Q4 2025 Q4 2025 2026-04-14
System sales grew 7.6% year-over-year to RMB 1.57 billion in 2025, with strong franchise expansion and improved margins in Tier 1 cities. Despite revenue declines from store closures, gross margin and EBITDA margin improved, and at least 100 net new stores are targeted for 2026.
Q3 2025 Q3 2025 2025-12-09
System sales grew 12.8% year-over-year in Q3 2025, with strong gains in food and delivery revenues, franchise expansion, and loyalty membership. Margins were pressured by delivery mix and competition, but new financing improved liquidity and supports future growth.
Q2 2025 Q2 2025 2025-08-26
Q2 saw record food revenue contribution, strong franchise growth, and a return to positive adjusted EBITDA. Despite a decline in company-owned store sales, franchised and retail segments surged, and digital orders hit a new high. Positive same-store sales and further expansion are expected.
Q1 2025 Q1 2025 2025-06-24
Q1 2025 saw system sales rise 3.5% year-over-year, driven by new lunch offerings and franchise growth, despite a decline in company-owned store revenue. Margins and profitability improved, with strong digital engagement and positive recent same-store sales trends.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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