GreenTree Hospitality Group Ltd. (GHG) 10-Year Financial Performance & Capital Metrics

GHG • • Industrial / General

Consumer CyclicalHotels & LodgingChina-Focused Hotel OperatorsChinese Mid-Market Hotel Chains

AboutGreenTree Hospitality Group Ltd., through its subsidiaries, develops leased-and-operated, and franchised-and-managed hotels under the GreenTree brand in the People's Republic of China. As of December 31, 2021, it operated 66 leased-and-operated hotels with 7,064 rooms; and had franchised-and-managed hotels network consisting of 4,593 hotels with 330,089 rooms covering 367 cities in China, and an additional 1,225 hotels with 91,887 rooms that were contracted for or under development. The company was founded in 2004 and is headquartered in Shanghai, the People's Republic of China. GreenTree Hospitality Group Ltd. is a subsidiary of GreenTree Inns Hotel Management Group, Inc.Show more

Revenue $1.34B -17.4%
EBITDA $278M -38.6%
Net Income $110M -59.2%
EPS (Diluted) 1.08 -59.1%
Gross Margin 38.77% -7.2%
EBITDA Margin 20.67% -25.7%
Operating Margin 12.05% -41.6%
Net Margin 8.19% -50.5%
ROE 7.4% -59.1%
ROIC 5.7% -36.5%
Debt/Equity 1.15 -7.3%
Interest Coverage 25.66 +7.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 21.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.7%
✗Profits declining 24.3% over 5 years
✗Weak momentum: RS Rating 16 (bottom 16%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y4.24%

3Y-11.95%

TTM-14.26%

Profit (Net Income) CAGR

10Y-

5Y-24.31%

3Y7.44%

TTM547.84%

EPS CAGR

10Y-

5Y-24.28%

3Y7.89%

TTM526.67%

ROCE

10Y Avg15.22%

5Y Avg2.78%

3Y Avg-0.1%

Latest4.31%

Peer Comparison

Chinese Mid-Market Hotel Chains

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HTHTH World Group Limited	14.8B	48.12	5.01	9.18%	15.95%	32.9%	45.45%	2.89
ATATAtour Lifestyle Holdings Limited	4.2B	36.95	4.03	55.42%	16.19%	39.89%	39.77%	0.59
GHGGreenTree Hospitality Group Ltd.	108.15M	1.62	1.50	-17.44%	15.31%	11.29%	100%	1.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	634.72M	647.79M	778.13M	945.01M	1.09B	930.01M	1.97B	945.14M	1.63B	1.34B
Revenue Growth %	-	0.02%	0.2%	0.21%	0.16%	-0.15%	1.12%	-0.52%	0.72%	-0.17%
Cost of Goods Sold+	264.34M	240.13M	233.65M	280.95M	338.83M	392.52M	651.38M	594.02M	947.44M	822.59M
COGS % of Revenue	0.42%	0.37%	0.3%	0.3%	0.31%	0.42%	0.33%	0.63%	0.58%	0.61%
Gross Profit+	370.39M	407.66M	544.49M	664.05M	752.97M	537.49M	554.77M	351.12M	679.82M	520.85M
Gross Margin %	0.58%	0.63%	0.7%	0.7%	0.69%	0.58%	0.28%	0.37%	0.42%	0.39%
Gross Profit Growth %	-	0.1%	0.34%	0.22%	0.13%	-0.29%	0.03%	-0.37%	0.94%	-0.23%
Operating Expenses+	82.61M	95.39M	157.04M	129.03M	248.41M	218.24M	313.05M	788.87M	344.17M	358.93M
OpEx % of Revenue	0.13%	0.15%	0.2%	0.14%	0.23%	0.23%	0.16%	0.83%	0.21%	0.27%
Selling, General & Admin	88.95M	104.54M	166.69M	145.65M	269.96M	247.9M	335.17M	805.07M	359.64M	291.91M
SG&A % of Revenue	0.14%	0.16%	0.21%	0.15%	0.25%	0.27%	0.17%	0.85%	0.22%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-6.34M	1.32M	1.19M	35.74M	-21.55M	-29.67M	-22.12M	-16.2M	-15.47M	67.02M
Operating Income+	287.77M	312.26M	387.45M	535.02M	504.55M	319.25M	129.2M	-486.53M	335.65M	161.92M
Operating Margin %	0.45%	0.48%	0.5%	0.57%	0.46%	0.34%	0.07%	-0.51%	0.21%	0.12%
Operating Income Growth %	-	0.09%	0.24%	0.38%	-0.06%	-0.37%	-0.6%	-4.77%	1.69%	-0.52%
EBITDA+	329.46M	347.62M	412.41M	560.57M	544.92M	385.12M	248.54M	-361.19M	452.52M	277.67M
EBITDA Margin %	0.52%	0.54%	0.53%	0.59%	0.5%	0.41%	0.13%	-0.38%	0.28%	0.21%
EBITDA Growth %	-	0.06%	0.19%	0.36%	-0.03%	-0.29%	-0.35%	-2.45%	2.25%	-0.39%
D&A (Non-Cash Add-back)	41.68M	35.35M	24.96M	25.55M	40.37M	65.87M	119.34M	125.34M	116.87M	115.75M
EBIT	332.96M	360.19M	458.1M	532.78M	628.59M	319.25M	210.78M	-476.18M	394.43M	203.52M
Net Interest Income+	19.64M	22.04M	24.8M	49.12M	63.58M	69.48M	45.36M	20.12M	27.32M	33.76M
Interest Income	19.64M	22.04M	26.24M	49.66M	66.09M	72.93M	60.66M	48.11M	41.37M	40.07M
Interest Expense	0	0	1.44M	541.88K	2.51M	3.46M	15.3M	27.99M	14.05M	6.31M
Other Income/Expense	27.97M	37.46M	84.25M	27.08M	122.79M	35.91M	66.28M	-19.23M	43.33M	34.12M
Pretax Income+	332.96M	360.19M	472.6M	562.1M	626.08M	355.16M	195.48M	-505.76M	378.98M	196.04M
Pretax Margin %	0.52%	0.56%	0.61%	0.59%	0.57%	0.38%	0.1%	-0.54%	0.23%	0.15%
Income Tax+	80.08M	83.92M	186.65M	160.19M	189.57M	110.46M	112.29M	-44.07M	118.45M	88.73M
Effective Tax Rate %	0.71%	0.74%	0.6%	0.7%	0.71%	0.74%	0.45%	0.84%	0.71%	0.56%
Net Income+	235.79M	265.97M	285.4M	394.1M	442.72M	261.34M	88.71M	-425.15M	269.32M	110M
Net Margin %	0.37%	0.41%	0.37%	0.42%	0.41%	0.28%	0.05%	-0.45%	0.17%	0.08%
Net Income Growth %	-	0.13%	0.07%	0.38%	0.12%	-0.41%	-0.66%	-5.79%	1.63%	-0.59%
Net Income (Continuing)	235.67M	265.8M	273.19M	371.22M	437.77M	244.7M	83.57M	-461.69M	260.53M	107.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	881.71K	708.67K	360.12K	8.38M	156.59M	146.89M	185.24M	44.6M	37.82M	33.86M
EPS (Diluted)+	1.16	1.31	1.41	3.97	4.34	2.54	0.86	-4.13	2.64	1.08
EPS Growth %	-	0.13%	0.08%	1.82%	0.09%	-0.41%	-0.66%	-5.8%	1.64%	-0.59%
EPS (Basic)	1.16	1.31	1.41	3.97	4.34	2.54	0.86	-4.13	2.64	1.08
Diluted Shares Outstanding	203.1M	203.1M	203.1M	99.15M	102.08M	103.05M	103.05M	102.96M	102.08M	101.54M
Basic Shares Outstanding	203.1M	203.1M	203.1M	99.15M	102.08M	103.05M	103.05M	102.96M	102.08M	101.54M
Dividend Payout Ratio	0.22%	0.07%	2.03%	0.51%	0.51%	-	3.61%	-	-	0.64%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.13B	1.6B	1.49B	2.45B	1.27B	1.58B	1.83B	1.81B	1.63B	1.84B
Cash & Short-Term Investments	904.47M	1.17B	1.25B	2.26B	964.13M	1.16B	1.01B	873.49M	1.21B	1.49B
Cash Only	505.86M	896.78M	161.96M	1.26B	319.85M	611.36M	298.43M	676.1M	765.55M	1.49B
Short-Term Investments	398.61M	273.49M	1.09B	993.21M	644.29M	544.36M	715.45M	197.39M	443.79M	10.47K
Accounts Receivable	36.86M	36.44M	53.88M	64.86M	102.93M	142.34M	149.57M	164.95M	138.1M	259.07M
Days Sales Outstanding	21.2	20.53	25.27	25.05	34.41	55.87	27.74	63.7	30.98	70.39
Inventory	1.9M	1.84M	2.36M	2.55M	2.54M	3.8M	2.3M	21.92M	20.46M	6.88M
Days Inventory Outstanding	2.62	2.8	3.68	3.31	2.73	3.54	1.29	13.47	7.88	3.05
Other Current Assets	173.52M	379.98M	173.33M	121.39M	176.83M	257.99M	633.63M	728.27M	242.8M	50.83M
Total Non-Current Assets+	275.68M	274.37M	270.56M	563.87M	2.55B	2.51B	2.83B	3.39B	3.44B	3.11B
Property, Plant & Equipment	141.39M	110.44M	96.67M	222.39M	614.94M	668.61M	1.05B	2.38B	2.35B	1.98B
Fixed Asset Turnover	4.49x	5.87x	8.05x	4.25x	1.78x	1.39x	1.87x	0.40x	0.69x	0.68x
Goodwill	2.96M	2.96M	2.96M	5.79M	100.08M	100.23M	120.82M	29.58M	177.08M	96.07M
Intangible Assets	5.98M	4.93M	3.73M	27.21M	496.28M	491.51M	520.12M	38.11M	117.72M	75.68M
Long-Term Investments	81.16M	35.5M	122.51M	112.22M	958.64M	859.53M	348.79M	305.55M	248.1M	469.59M
Other Non-Current Assets	8.32M	82.21M	11.34M	128.35M	220.83M	234.71M	651.39M	408.49M	304.89M	246.79M
Total Assets+	1.41B	1.88B	1.76B	3.01B	3.82B	4.09B	4.73B	5.1B	5.07B	4.95B
Asset Turnover	0.45x	0.35x	0.44x	0.31x	0.29x	0.23x	0.42x	0.19x	0.32x	0.27x
Asset Growth %	-	0.33%	-0.06%	0.72%	0.27%	0.07%	0.16%	0.08%	-0.01%	-0.02%
Total Current Liabilities+	365.81M	491.52M	812.68M	675.46M	858.69M	869.53M	1.25B	1.54B	1.34B	1.17B
Accounts Payable	7.57M	7.7M	7.29M	9.18M	15.3M	19.61M	24.04M	123.58M	73.13M	56.49M
Days Payables Outstanding	10.45	11.71	11.39	11.93	16.48	18.23	13.47	75.93	28.17	25.07
Short-Term Debt	0	0	0	60M	60M	150M	406.2M	298.1M	117M	400K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Other Current Liabilities	284.08M	385.78M	679.03M	-36.21B	63.66M	418.76M	529.91M	625.72M	268.67M	46.98M
Current Ratio	3.09x	3.26x	1.83x	3.63x	1.47x	1.82x	1.47x	1.18x	1.21x	1.57x
Quick Ratio	3.09x	3.25x	1.82x	3.62x	1.47x	1.82x	1.46x	1.16x	1.20x	1.57x
Cash Conversion Cycle	13.37	11.63	17.56	16.43	20.67	41.17	15.56	1.24	10.69	48.38
Total Non-Current Liabilities+	264.14M	357.31M	360.34M	475.8M	1B	975.5M	1.37B	2.48B	2.25B	2.29B
Long-Term Debt	0	0	0	0	0	0	301.8M	160M	56.8M	256.2M
Capital Lease Obligations	0	0	0	0	0	0	0	1.52B	1.39B	1.22B
Deferred Tax Liabilities	15.81M	9.84M	5.8M	43.54M	195.3M	178.41M	228.2M	92.71M	94.72M	79.67M
Other Non-Current Liabilities	264.14M	357.31M	360.34M	475.8M	0	406.54M	460.87M	478.06M	493.84M	561.05M
Total Liabilities	629.95M	848.83M	1.17B	1.15B	1.86B	1.85B	2.6B	3.61B	3.59B	3.45B
Total Debt+	0	0	0	60M	60M	150M	708M	2.25B	1.83B	1.71B
Net Debt	-505.86M	-896.78M	-161.96M	-1.2B	-259.85M	-461.36M	409.57M	1.39B	1.07B	223.5M
Debt / Equity	-	-	-	0.03x	0.03x	0.07x	0.33x	1.50x	1.24x	1.15x
Debt / EBITDA	-	-	-	0.11x	0.11x	0.39x	2.85x	-	4.05x	6.17x
Net Debt / EBITDA	-1.54x	-2.58x	-0.39x	-2.15x	-0.48x	-1.20x	1.65x	-	2.36x	0.80x
Interest Coverage	-	-	268.56x	987.35x	201.35x	92.37x	8.44x	-17.38x	23.88x	25.66x
Total Equity+	777.2M	1.03B	582.96M	1.86B	1.95B	2.25B	2.13B	1.49B	1.48B	1.49B
Equity Growth %	-	0.32%	-0.43%	2.2%	0.05%	0.15%	-0.05%	-0.3%	-0.01%	0.01%
Book Value per Share	3.83	5.06	2.87	18.79	19.14	21.83	20.71	14.52	14.50	14.70
Total Shareholders' Equity	776.32M	1.03B	582.6M	1.85B	1.8B	2.1B	1.95B	1.61B	1.44B	1.46B
Common Stock	300.89M	300.89M	300.89M	332.96M	335.06M	338.12M	338.12M	338.12M	338.12M	338.12M
Retained Earnings	308.45M	556.47M	73.49M	456.4M	308.7M	570.04M	420.46M	-817.54M	-568.34M	-458.34M
Treasury Stock	0	0	0	0	0	0	0	-16.97M	-36.68M	-37.04M
Accumulated OCI	-7.28M	-5.4M	-4.09M	62.37M	65.3M	45.59M	39.09M	27.73M	28.4M	6.03M
Minority Interest	881.71K	708.67K	360.12K	8.38M	156.59M	146.89M	185.24M	44.6M	37.82M	33.86M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	357.3M	443.56M	476.67M	554.95M	513.94M	297.3M	360.98M	281.71M	455.05M	373.38M
Operating CF Margin %	0.56%	0.68%	0.61%	0.59%	0.47%	0.32%	0.18%	0.3%	0.28%	0.28%
Operating CF Growth %	-	0.24%	0.07%	0.16%	-0.07%	-0.42%	0.21%	-0.22%	0.62%	-0.18%
Net Income	235.67M	265.8M	285.05M	393.61M	437.77M	244.7M	207.84M	-409.24M	260.53M	107.31M
Depreciation & Amortization	41.68M	35.35M	24.96M	25.55M	40.37M	65.87M	98.11M	109.87M	116.87M	115.75M
Stock-Based Compensation	0	0	38.05M	16.11M	26.49M	232.56K	2.46M	-62.36K	62.65K	0
Deferred Taxes	0	0	67.68M	23.35M	19.85M	76.5M	31.9M	0	0	0
Other Non-Cash Items	-23.66M	-64.97M	-66M	14.71M	-54.28M	-9.5M	-3.67M	866.99M	343.81M	417.11M
Working Capital Changes	103.61M	207.37M	126.94M	81.62M	43.74M	-80.5M	24.33M	-285.85M	-266.22M	-266.79M
Change in Receivables	-2.69M	-1.44M	-17.93M	-12.37M	-52.26M	-28.79M	-22.33M	-59.47M	3.01M	-5.43M
Change in Inventory	-794.27K	53.48K	-511K	621.29K	351.52K	-1.28M	1.5M	-793.08K	4.76M	14.62M
Change in Payables	-298.93K	134.1K	-407.95K	1.18M	4.81M	4.55M	4.52M	574.26K	-50.45M	-3.02M
Cash from Investing+	-186.43M	74M	-744.86M	-181.76M	-1.22B	-115.6M	-928.39M	438.96M	-93.71M	345.39M
Capital Expenditures	-13.98M	-6.09M	-16.57M	-141.96M	-100.21M	-112.82M	-561.26M	-69.12M	-87.76M	-79.58M
CapEx % of Revenue	0.02%	0.01%	0.02%	0.15%	0.09%	0.12%	0.29%	0.07%	0.05%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-32.88M	-133.94M	126.7M	-114.74M	-435.21M	-140.09M	-533.97M	-73.91M	115.27M	215.28M
Cash from Financing+	-51.33M	-132.96M	-465.16M	662.85M	-212.23M	117.53M	240.33M	-341.9M	-303.73M	10.53M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-52.06M	-17.96M	-579.04M	-200.53M	-226.95M	0	-320.25M	-41M	0	-70.94M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	721.13K	-115M	115.32M	-33.83M	14.72M	27.53M	17.88M	-996.7K	272.5K	-966K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	343.32M	437.46M	460.1M	412.99M	413.73M	184.49M	-200.29M	212.59M	366.55M	293.76M
FCF Margin %	0.54%	0.68%	0.59%	0.44%	0.38%	0.2%	-0.1%	0.22%	0.23%	0.22%
FCF Growth %	-	0.27%	0.05%	-0.1%	0%	-0.55%	-2.09%	2.06%	0.72%	-0.2%
FCF per Share	1.69	2.15	2.27	4.17	4.05	1.79	-1.94	2.06	3.59	2.89
FCF Conversion (FCF/Net Income)	1.52x	1.67x	1.67x	1.41x	1.16x	1.14x	4.07x	-0.66x	1.69x	3.39x
Interest Paid	0	0	1.44M	0	2.13M	4.47M	15.3M	27.99M	14.05M	7.88M
Taxes Paid	31.61M	64.94M	160.06M	93.3M	120.34M	105.59M	50.6M	59.44M	61.74M	82.58M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	30.34%	29.48%	35.46%	32.22%	23.2%	12.43%	4.05%	-23.43%	18.11%	7.4%
Return on Invested Capital (ROIC)	79.54%	116.67%	105.45%	74.3%	32.16%	13.75%	4.47%	-13.01%	8.97%	5.7%
Gross Margin	58.35%	62.93%	69.97%	70.27%	68.97%	57.79%	28.19%	37.15%	41.78%	38.77%
Net Margin	37.15%	41.06%	36.68%	41.7%	40.55%	28.1%	4.51%	-44.98%	16.55%	8.19%
Debt / Equity	-	-	-	0.03x	0.03x	0.07x	0.33x	1.50x	1.24x	1.15x
Interest Coverage	-	-	268.56x	987.35x	201.35x	92.37x	8.44x	-17.38x	23.88x	25.66x
FCF Conversion	1.52x	1.67x	1.67x	1.41x	1.16x	1.14x	4.07x	-0.66x	1.69x	3.39x
Revenue Growth	-	2.06%	20.12%	21.45%	15.53%	-14.82%	111.59%	-51.97%	72.17%	-17.44%

Revenue by Segment

	2018	2019	2020	2021	2022	2023
Initial Franchise Fee	-	-	-	76.26M	190.38M	169.24M
Initial Franchise Fee Growth	-	-	-	-	149.64%	-11.10%
Membership Fees	-	257.35M	-	-	-	126.86M
Membership Fees Growth	-	-	-	-	-	-
Greentree Reward Membership Program	-	31.86M	-	-	-	57.25M
Greentree Reward Membership Program Growth	-	-	-	-	-	-
Cash Received for Prepaid Card and Sublease	-	-	-	-	-	40.83M
Cash Received for Prepaid Card and Sublease Growth	-	-	-	-	-	-
Franchised And Managed Hotels	-	-	852.29K	774.36M	582.44M	-
Franchised And Managed Hotels Growth	-	-	-	90756.64%	-24.78%	-
Continuing Franchise Fees	-	-	-	698.1M	540.02M	-
Continuing Franchise Fees Growth	-	-	-	-	-22.64%	-
Leased And Operated Hotels	213.17M	-	320.18K	391.96M	338.51M	-
Leased And Operated Hotels Growth	-	-	-	122319.03%	-13.64%	-
Others	-	-	-	39.83M	15.85M	-
Others Growth	-	-	-	-	-60.19%	-
Cash Received For Prepaid Card And Sublease	-	58.08M	-	-	-	-
Cash Received For Prepaid Card And Sublease Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

GreenTree Hospitality Group Ltd. (GHG) has a price-to-earnings (P/E) ratio of 1.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

GreenTree Hospitality Group Ltd. (GHG) reported $1.25B in revenue for fiscal year 2024. This represents a 96% increase from $634.7M in 2015.

GreenTree Hospitality Group Ltd. (GHG) saw revenue decline by 17.4% over the past year.

Yes, GreenTree Hospitality Group Ltd. (GHG) is profitable, generating $190.9M in net income for fiscal year 2024 (8.2% net margin).

Dividend & Returns

Yes, GreenTree Hospitality Group Ltd. (GHG) pays a dividend with a yield of 43.12%. This makes it attractive for income-focused investors.

GreenTree Hospitality Group Ltd. (GHG) has a return on equity (ROE) of 7.4%. This is below average, suggesting room for improvement.

GreenTree Hospitality Group Ltd. (GHG) generated $214.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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GreenTree Hospitality Group Ltd. (GHG) 10-Year Financial Performance & Capital Metrics

GHG • • Industrial / General

Consumer CyclicalHotels & LodgingChina-Focused Hotel OperatorsChinese Mid-Market Hotel Chains

Revenue $1.34B -17.4%
EBITDA $278M -38.6%
Net Income $110M -59.2%
EPS (Diluted) 1.08 -59.1%
Gross Margin 38.77% -7.2%
EBITDA Margin 20.67% -25.7%
Operating Margin 12.05% -41.6%
Net Margin 8.19% -50.5%
ROE 7.4% -59.1%
ROIC 5.7% -36.5%
Debt/Equity 1.15 -7.3%
Interest Coverage 25.66 +7.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 21.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.7%
✗Profits declining 24.3% over 5 years
✗Weak momentum: RS Rating 16 (bottom 16%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y4.24%

3Y-11.95%

TTM-14.26%

Profit (Net Income) CAGR

10Y-

5Y-24.31%

3Y7.44%

TTM547.84%

EPS CAGR

10Y-

5Y-24.28%

3Y7.89%

TTM526.67%

ROCE

10Y Avg15.22%

5Y Avg2.78%

3Y Avg-0.1%

Latest4.31%

Peer Comparison

Chinese Mid-Market Hotel Chains

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HTHTH World Group Limited	14.8B	48.12	5.01	9.18%	15.95%	32.9%	45.45%	2.89
ATATAtour Lifestyle Holdings Limited	4.2B	36.95	4.03	55.42%	16.19%	39.89%	39.77%	0.59
GHGGreenTree Hospitality Group Ltd.	108.15M	1.62	1.50	-17.44%	15.31%	11.29%	100%	1.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	634.72M	647.79M	778.13M	945.01M	1.09B	930.01M	1.97B	945.14M	1.63B	1.34B
Revenue Growth %	-	0.02%	0.2%	0.21%	0.16%	-0.15%	1.12%	-0.52%	0.72%	-0.17%
Cost of Goods Sold+	264.34M	240.13M	233.65M	280.95M	338.83M	392.52M	651.38M	594.02M	947.44M	822.59M
COGS % of Revenue	0.42%	0.37%	0.3%	0.3%	0.31%	0.42%	0.33%	0.63%	0.58%	0.61%
Gross Profit+	370.39M	407.66M	544.49M	664.05M	752.97M	537.49M	554.77M	351.12M	679.82M	520.85M
Gross Margin %	0.58%	0.63%	0.7%	0.7%	0.69%	0.58%	0.28%	0.37%	0.42%	0.39%
Gross Profit Growth %	-	0.1%	0.34%	0.22%	0.13%	-0.29%	0.03%	-0.37%	0.94%	-0.23%
Operating Expenses+	82.61M	95.39M	157.04M	129.03M	248.41M	218.24M	313.05M	788.87M	344.17M	358.93M
OpEx % of Revenue	0.13%	0.15%	0.2%	0.14%	0.23%	0.23%	0.16%	0.83%	0.21%	0.27%
Selling, General & Admin	88.95M	104.54M	166.69M	145.65M	269.96M	247.9M	335.17M	805.07M	359.64M	291.91M
SG&A % of Revenue	0.14%	0.16%	0.21%	0.15%	0.25%	0.27%	0.17%	0.85%	0.22%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-6.34M	1.32M	1.19M	35.74M	-21.55M	-29.67M	-22.12M	-16.2M	-15.47M	67.02M
Operating Income+	287.77M	312.26M	387.45M	535.02M	504.55M	319.25M	129.2M	-486.53M	335.65M	161.92M
Operating Margin %	0.45%	0.48%	0.5%	0.57%	0.46%	0.34%	0.07%	-0.51%	0.21%	0.12%
Operating Income Growth %	-	0.09%	0.24%	0.38%	-0.06%	-0.37%	-0.6%	-4.77%	1.69%	-0.52%
EBITDA+	329.46M	347.62M	412.41M	560.57M	544.92M	385.12M	248.54M	-361.19M	452.52M	277.67M
EBITDA Margin %	0.52%	0.54%	0.53%	0.59%	0.5%	0.41%	0.13%	-0.38%	0.28%	0.21%
EBITDA Growth %	-	0.06%	0.19%	0.36%	-0.03%	-0.29%	-0.35%	-2.45%	2.25%	-0.39%
D&A (Non-Cash Add-back)	41.68M	35.35M	24.96M	25.55M	40.37M	65.87M	119.34M	125.34M	116.87M	115.75M
EBIT	332.96M	360.19M	458.1M	532.78M	628.59M	319.25M	210.78M	-476.18M	394.43M	203.52M
Net Interest Income+	19.64M	22.04M	24.8M	49.12M	63.58M	69.48M	45.36M	20.12M	27.32M	33.76M
Interest Income	19.64M	22.04M	26.24M	49.66M	66.09M	72.93M	60.66M	48.11M	41.37M	40.07M
Interest Expense	0	0	1.44M	541.88K	2.51M	3.46M	15.3M	27.99M	14.05M	6.31M
Other Income/Expense	27.97M	37.46M	84.25M	27.08M	122.79M	35.91M	66.28M	-19.23M	43.33M	34.12M
Pretax Income+	332.96M	360.19M	472.6M	562.1M	626.08M	355.16M	195.48M	-505.76M	378.98M	196.04M
Pretax Margin %	0.52%	0.56%	0.61%	0.59%	0.57%	0.38%	0.1%	-0.54%	0.23%	0.15%
Income Tax+	80.08M	83.92M	186.65M	160.19M	189.57M	110.46M	112.29M	-44.07M	118.45M	88.73M
Effective Tax Rate %	0.71%	0.74%	0.6%	0.7%	0.71%	0.74%	0.45%	0.84%	0.71%	0.56%
Net Income+	235.79M	265.97M	285.4M	394.1M	442.72M	261.34M	88.71M	-425.15M	269.32M	110M
Net Margin %	0.37%	0.41%	0.37%	0.42%	0.41%	0.28%	0.05%	-0.45%	0.17%	0.08%
Net Income Growth %	-	0.13%	0.07%	0.38%	0.12%	-0.41%	-0.66%	-5.79%	1.63%	-0.59%
Net Income (Continuing)	235.67M	265.8M	273.19M	371.22M	437.77M	244.7M	83.57M	-461.69M	260.53M	107.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	881.71K	708.67K	360.12K	8.38M	156.59M	146.89M	185.24M	44.6M	37.82M	33.86M
EPS (Diluted)+	1.16	1.31	1.41	3.97	4.34	2.54	0.86	-4.13	2.64	1.08
EPS Growth %	-	0.13%	0.08%	1.82%	0.09%	-0.41%	-0.66%	-5.8%	1.64%	-0.59%
EPS (Basic)	1.16	1.31	1.41	3.97	4.34	2.54	0.86	-4.13	2.64	1.08
Diluted Shares Outstanding	203.1M	203.1M	203.1M	99.15M	102.08M	103.05M	103.05M	102.96M	102.08M	101.54M
Basic Shares Outstanding	203.1M	203.1M	203.1M	99.15M	102.08M	103.05M	103.05M	102.96M	102.08M	101.54M
Dividend Payout Ratio	0.22%	0.07%	2.03%	0.51%	0.51%	-	3.61%	-	-	0.64%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.13B	1.6B	1.49B	2.45B	1.27B	1.58B	1.83B	1.81B	1.63B	1.84B
Cash & Short-Term Investments	904.47M	1.17B	1.25B	2.26B	964.13M	1.16B	1.01B	873.49M	1.21B	1.49B
Cash Only	505.86M	896.78M	161.96M	1.26B	319.85M	611.36M	298.43M	676.1M	765.55M	1.49B
Short-Term Investments	398.61M	273.49M	1.09B	993.21M	644.29M	544.36M	715.45M	197.39M	443.79M	10.47K
Accounts Receivable	36.86M	36.44M	53.88M	64.86M	102.93M	142.34M	149.57M	164.95M	138.1M	259.07M
Days Sales Outstanding	21.2	20.53	25.27	25.05	34.41	55.87	27.74	63.7	30.98	70.39
Inventory	1.9M	1.84M	2.36M	2.55M	2.54M	3.8M	2.3M	21.92M	20.46M	6.88M
Days Inventory Outstanding	2.62	2.8	3.68	3.31	2.73	3.54	1.29	13.47	7.88	3.05
Other Current Assets	173.52M	379.98M	173.33M	121.39M	176.83M	257.99M	633.63M	728.27M	242.8M	50.83M
Total Non-Current Assets+	275.68M	274.37M	270.56M	563.87M	2.55B	2.51B	2.83B	3.39B	3.44B	3.11B
Property, Plant & Equipment	141.39M	110.44M	96.67M	222.39M	614.94M	668.61M	1.05B	2.38B	2.35B	1.98B
Fixed Asset Turnover	4.49x	5.87x	8.05x	4.25x	1.78x	1.39x	1.87x	0.40x	0.69x	0.68x
Goodwill	2.96M	2.96M	2.96M	5.79M	100.08M	100.23M	120.82M	29.58M	177.08M	96.07M
Intangible Assets	5.98M	4.93M	3.73M	27.21M	496.28M	491.51M	520.12M	38.11M	117.72M	75.68M
Long-Term Investments	81.16M	35.5M	122.51M	112.22M	958.64M	859.53M	348.79M	305.55M	248.1M	469.59M
Other Non-Current Assets	8.32M	82.21M	11.34M	128.35M	220.83M	234.71M	651.39M	408.49M	304.89M	246.79M
Total Assets+	1.41B	1.88B	1.76B	3.01B	3.82B	4.09B	4.73B	5.1B	5.07B	4.95B
Asset Turnover	0.45x	0.35x	0.44x	0.31x	0.29x	0.23x	0.42x	0.19x	0.32x	0.27x
Asset Growth %	-	0.33%	-0.06%	0.72%	0.27%	0.07%	0.16%	0.08%	-0.01%	-0.02%
Total Current Liabilities+	365.81M	491.52M	812.68M	675.46M	858.69M	869.53M	1.25B	1.54B	1.34B	1.17B
Accounts Payable	7.57M	7.7M	7.29M	9.18M	15.3M	19.61M	24.04M	123.58M	73.13M	56.49M
Days Payables Outstanding	10.45	11.71	11.39	11.93	16.48	18.23	13.47	75.93	28.17	25.07
Short-Term Debt	0	0	0	60M	60M	150M	406.2M	298.1M	117M	400K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Other Current Liabilities	284.08M	385.78M	679.03M	-36.21B	63.66M	418.76M	529.91M	625.72M	268.67M	46.98M
Current Ratio	3.09x	3.26x	1.83x	3.63x	1.47x	1.82x	1.47x	1.18x	1.21x	1.57x
Quick Ratio	3.09x	3.25x	1.82x	3.62x	1.47x	1.82x	1.46x	1.16x	1.20x	1.57x
Cash Conversion Cycle	13.37	11.63	17.56	16.43	20.67	41.17	15.56	1.24	10.69	48.38
Total Non-Current Liabilities+	264.14M	357.31M	360.34M	475.8M	1B	975.5M	1.37B	2.48B	2.25B	2.29B
Long-Term Debt	0	0	0	0	0	0	301.8M	160M	56.8M	256.2M
Capital Lease Obligations	0	0	0	0	0	0	0	1.52B	1.39B	1.22B
Deferred Tax Liabilities	15.81M	9.84M	5.8M	43.54M	195.3M	178.41M	228.2M	92.71M	94.72M	79.67M
Other Non-Current Liabilities	264.14M	357.31M	360.34M	475.8M	0	406.54M	460.87M	478.06M	493.84M	561.05M
Total Liabilities	629.95M	848.83M	1.17B	1.15B	1.86B	1.85B	2.6B	3.61B	3.59B	3.45B
Total Debt+	0	0	0	60M	60M	150M	708M	2.25B	1.83B	1.71B
Net Debt	-505.86M	-896.78M	-161.96M	-1.2B	-259.85M	-461.36M	409.57M	1.39B	1.07B	223.5M
Debt / Equity	-	-	-	0.03x	0.03x	0.07x	0.33x	1.50x	1.24x	1.15x
Debt / EBITDA	-	-	-	0.11x	0.11x	0.39x	2.85x	-	4.05x	6.17x
Net Debt / EBITDA	-1.54x	-2.58x	-0.39x	-2.15x	-0.48x	-1.20x	1.65x	-	2.36x	0.80x
Interest Coverage	-	-	268.56x	987.35x	201.35x	92.37x	8.44x	-17.38x	23.88x	25.66x
Total Equity+	777.2M	1.03B	582.96M	1.86B	1.95B	2.25B	2.13B	1.49B	1.48B	1.49B
Equity Growth %	-	0.32%	-0.43%	2.2%	0.05%	0.15%	-0.05%	-0.3%	-0.01%	0.01%
Book Value per Share	3.83	5.06	2.87	18.79	19.14	21.83	20.71	14.52	14.50	14.70
Total Shareholders' Equity	776.32M	1.03B	582.6M	1.85B	1.8B	2.1B	1.95B	1.61B	1.44B	1.46B
Common Stock	300.89M	300.89M	300.89M	332.96M	335.06M	338.12M	338.12M	338.12M	338.12M	338.12M
Retained Earnings	308.45M	556.47M	73.49M	456.4M	308.7M	570.04M	420.46M	-817.54M	-568.34M	-458.34M
Treasury Stock	0	0	0	0	0	0	0	-16.97M	-36.68M	-37.04M
Accumulated OCI	-7.28M	-5.4M	-4.09M	62.37M	65.3M	45.59M	39.09M	27.73M	28.4M	6.03M
Minority Interest	881.71K	708.67K	360.12K	8.38M	156.59M	146.89M	185.24M	44.6M	37.82M	33.86M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	357.3M	443.56M	476.67M	554.95M	513.94M	297.3M	360.98M	281.71M	455.05M	373.38M
Operating CF Margin %	0.56%	0.68%	0.61%	0.59%	0.47%	0.32%	0.18%	0.3%	0.28%	0.28%
Operating CF Growth %	-	0.24%	0.07%	0.16%	-0.07%	-0.42%	0.21%	-0.22%	0.62%	-0.18%
Net Income	235.67M	265.8M	285.05M	393.61M	437.77M	244.7M	207.84M	-409.24M	260.53M	107.31M
Depreciation & Amortization	41.68M	35.35M	24.96M	25.55M	40.37M	65.87M	98.11M	109.87M	116.87M	115.75M
Stock-Based Compensation	0	0	38.05M	16.11M	26.49M	232.56K	2.46M	-62.36K	62.65K	0
Deferred Taxes	0	0	67.68M	23.35M	19.85M	76.5M	31.9M	0	0	0
Other Non-Cash Items	-23.66M	-64.97M	-66M	14.71M	-54.28M	-9.5M	-3.67M	866.99M	343.81M	417.11M
Working Capital Changes	103.61M	207.37M	126.94M	81.62M	43.74M	-80.5M	24.33M	-285.85M	-266.22M	-266.79M
Change in Receivables	-2.69M	-1.44M	-17.93M	-12.37M	-52.26M	-28.79M	-22.33M	-59.47M	3.01M	-5.43M
Change in Inventory	-794.27K	53.48K	-511K	621.29K	351.52K	-1.28M	1.5M	-793.08K	4.76M	14.62M
Change in Payables	-298.93K	134.1K	-407.95K	1.18M	4.81M	4.55M	4.52M	574.26K	-50.45M	-3.02M
Cash from Investing+	-186.43M	74M	-744.86M	-181.76M	-1.22B	-115.6M	-928.39M	438.96M	-93.71M	345.39M
Capital Expenditures	-13.98M	-6.09M	-16.57M	-141.96M	-100.21M	-112.82M	-561.26M	-69.12M	-87.76M	-79.58M
CapEx % of Revenue	0.02%	0.01%	0.02%	0.15%	0.09%	0.12%	0.29%	0.07%	0.05%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-32.88M	-133.94M	126.7M	-114.74M	-435.21M	-140.09M	-533.97M	-73.91M	115.27M	215.28M
Cash from Financing+	-51.33M	-132.96M	-465.16M	662.85M	-212.23M	117.53M	240.33M	-341.9M	-303.73M	10.53M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-52.06M	-17.96M	-579.04M	-200.53M	-226.95M	0	-320.25M	-41M	0	-70.94M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	721.13K	-115M	115.32M	-33.83M	14.72M	27.53M	17.88M	-996.7K	272.5K	-966K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	343.32M	437.46M	460.1M	412.99M	413.73M	184.49M	-200.29M	212.59M	366.55M	293.76M
FCF Margin %	0.54%	0.68%	0.59%	0.44%	0.38%	0.2%	-0.1%	0.22%	0.23%	0.22%
FCF Growth %	-	0.27%	0.05%	-0.1%	0%	-0.55%	-2.09%	2.06%	0.72%	-0.2%
FCF per Share	1.69	2.15	2.27	4.17	4.05	1.79	-1.94	2.06	3.59	2.89
FCF Conversion (FCF/Net Income)	1.52x	1.67x	1.67x	1.41x	1.16x	1.14x	4.07x	-0.66x	1.69x	3.39x
Interest Paid	0	0	1.44M	0	2.13M	4.47M	15.3M	27.99M	14.05M	7.88M
Taxes Paid	31.61M	64.94M	160.06M	93.3M	120.34M	105.59M	50.6M	59.44M	61.74M	82.58M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	30.34%	29.48%	35.46%	32.22%	23.2%	12.43%	4.05%	-23.43%	18.11%	7.4%
Return on Invested Capital (ROIC)	79.54%	116.67%	105.45%	74.3%	32.16%	13.75%	4.47%	-13.01%	8.97%	5.7%
Gross Margin	58.35%	62.93%	69.97%	70.27%	68.97%	57.79%	28.19%	37.15%	41.78%	38.77%
Net Margin	37.15%	41.06%	36.68%	41.7%	40.55%	28.1%	4.51%	-44.98%	16.55%	8.19%
Debt / Equity	-	-	-	0.03x	0.03x	0.07x	0.33x	1.50x	1.24x	1.15x
Interest Coverage	-	-	268.56x	987.35x	201.35x	92.37x	8.44x	-17.38x	23.88x	25.66x
FCF Conversion	1.52x	1.67x	1.67x	1.41x	1.16x	1.14x	4.07x	-0.66x	1.69x	3.39x
Revenue Growth	-	2.06%	20.12%	21.45%	15.53%	-14.82%	111.59%	-51.97%	72.17%	-17.44%

Revenue by Segment

	2018	2019	2020	2021	2022	2023
Initial Franchise Fee	-	-	-	76.26M	190.38M	169.24M
Initial Franchise Fee Growth	-	-	-	-	149.64%	-11.10%
Membership Fees	-	257.35M	-	-	-	126.86M
Membership Fees Growth	-	-	-	-	-	-
Greentree Reward Membership Program	-	31.86M	-	-	-	57.25M
Greentree Reward Membership Program Growth	-	-	-	-	-	-
Cash Received for Prepaid Card and Sublease	-	-	-	-	-	40.83M
Cash Received for Prepaid Card and Sublease Growth	-	-	-	-	-	-
Franchised And Managed Hotels	-	-	852.29K	774.36M	582.44M	-
Franchised And Managed Hotels Growth	-	-	-	90756.64%	-24.78%	-
Continuing Franchise Fees	-	-	-	698.1M	540.02M	-
Continuing Franchise Fees Growth	-	-	-	-	-22.64%	-
Leased And Operated Hotels	213.17M	-	320.18K	391.96M	338.51M	-
Leased And Operated Hotels Growth	-	-	-	122319.03%	-13.64%	-
Others	-	-	-	39.83M	15.85M	-
Others Growth	-	-	-	-	-60.19%	-
Cash Received For Prepaid Card And Sublease	-	58.08M	-	-	-	-
Cash Received For Prepaid Card And Sublease Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

GreenTree Hospitality Group Ltd. (GHG) has a price-to-earnings (P/E) ratio of 1.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

GreenTree Hospitality Group Ltd. (GHG) reported $1.25B in revenue for fiscal year 2024. This represents a 96% increase from $634.7M in 2015.

GreenTree Hospitality Group Ltd. (GHG) saw revenue decline by 17.4% over the past year.

Yes, GreenTree Hospitality Group Ltd. (GHG) is profitable, generating $190.9M in net income for fiscal year 2024 (8.2% net margin).

Dividend & Returns

Yes, GreenTree Hospitality Group Ltd. (GHG) pays a dividend with a yield of 43.12%. This makes it attractive for income-focused investors.

GreenTree Hospitality Group Ltd. (GHG) has a return on equity (ROE) of 7.4%. This is below average, suggesting room for improvement.

GreenTree Hospitality Group Ltd. (GHG) generated $214.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.