Last 47 quarters of trend data · Consumer Cyclical · Travel Lodging
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
H World Group Limited's quarterly P/E stands at 3.3x, down 93.7% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 32.8% YoY to 5.3x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.85 | 3.27 | 2.13 | 1.77 | 3.30 | 51.61 | 2.33 | 2.52 | 4.61 | 3.63 | 2.40 | 3.13 | 4.08 |
| — | -93.7% | -8.6% | -30.0% | -28.3% | +1319.9% | -3.3% | -19.3% | +12.9% | — | — | — | — | |
| P/S Ratio | 4.33 | 0.60 | 0.46 | 0.43 | 0.55 | 0.43 | 0.47 | 0.45 | 0.58 | 0.48 | 0.53 | 0.59 | 0.91 |
| — | +39.0% | -2.9% | -4.7% | -4.7% | -11.1% | -10.6% | -23.9% | -36.4% | -45.9% | -17.4% | -32.8% | -4.7% | |
| P/B Ratio | 8.14 | 1.18 | 1.06 | 0.89 | 1.13 | 0.84 | 0.99 | 0.87 | 0.99 | 0.88 | 0.91 | 0.99 | 1.38 |
| — | +40.6% | +6.6% | +3.0% | +13.7% | -4.3% | +8.5% | -12.8% | -28.5% | -41.4% | -23.2% | -20.9% | +31.9% | |
| P/FCF | 14.53 | 1.21 | 2.13 | 1.11 | 8.80 | 0.99 | 2.14 | 1.35 | 5.07 | 1.33 | 3.36 | 1.57 | 2.52 |
| — | +22.8% | -0.4% | -17.5% | +73.4% | -25.5% | -36.4% | -14.5% | +101.0% | -67.2% | -74.7% | -55.0% | — | |
| EV / EBITDA | 17.82 | 5.26 | 4.52 | 4.58 | 6.94 | 7.83 | 4.99 | 5.14 | 7.88 | 9.29 | 5.05 | 6.54 | 12.16 |
| — | -32.8% | -9.4% | -10.8% | -11.9% | -15.8% | -1.4% | -21.4% | -35.2% | -80.8% | -65.1% | -80.7% | — | |
| EV / EBIT | 21.11 | 6.17 | 4.85 | 4.35 | 7.21 | 12.48 | 5.88 | 6.22 | 10.21 | 8.96 | 6.23 | 7.87 | 9.52 |
| — | -50.6% | -17.6% | -30.1% | -29.4% | +39.2% | -5.6% | -20.9% | +7.2% | -87.3% | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
H World Group Limited's operating margin was 25.7% in Q4 2025, down 3.7 pp QoQ and up 10.8 pp YoY. Gross margin expanded 12.4% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.4% | 39.9% | 41.6% | 41.6% | 33.2% | 35.5% | 41.0% | 39.3% | 32.5% | 28.4% | 42.5% | 37.0% | 27.5% |
| — | +12.4% | +1.5% | +5.8% | +2.3% | +24.8% | -3.6% | +6.2% | +18.2% | +281.9% | +66.1% | +205.5% | +657.6% | |
| Operating Margin | 25.4% | 25.7% | 29.4% | 27.8% | 20.1% | 15.0% | 26.7% | 25.6% | 19.0% | 13.5% | 30.4% | 25.0% | 14.8% |
| — | +71.9% | +10.0% | +8.8% | +5.5% | +10.6% | -11.9% | +2.1% | +28.2% | +639.5% | +148.5% | +10489.9% | +156.1% | |
| Net Margin | 20.1% | 18.0% | 21.1% | 24.0% | 16.6% | 0.8% | 19.8% | 17.4% | 12.5% | 13.3% | 21.3% | 18.4% | 22.1% |
| — | +2109.8% | +6.8% | +38.4% | +32.7% | -93.9% | -7.1% | -5.4% | -43.5% | +513.0% | +221.4% | +277.4% | +194.0% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 39.2% | 9.3% | 12.1% | 13.5% | 7.8% | 0.4% | 10.2% | 8.5% | 5.3% | 5.6% | 9.7% | 8.1% | 9.6% |
| — | +2213.5% | +18.3% | +58.6% | +46.1% | -92.8% | +5.3% | +4.4% | -44.3% | +509.1% | +223.1% | +323.8% | +258.8% | |
| ROA | 7.8% | 1.8% | 2.3% | 2.4% | 1.4% | 0.1% | 2.0% | 1.7% | 1.1% | 1.2% | 2.1% | 1.6% | 1.6% |
| — | +2190.1% | +11.9% | +41.9% | +36.6% | -93.3% | -3.7% | +8.7% | -32.6% | +705.6% | +282.5% | +380.1% | +255.5% | |
| ROIC | 11.9% | 3.1% | 3.7% | 3.5% | 2.1% | 1.7% | 3.2% | 2.8% | 1.8% | 1.3% | 3.1% | 2.3% | 1.0% |
| — | +85.2% | +18.8% | +22.6% | +16.1% | +29.6% | +2.2% | +25.3% | +72.3% | +1000.4% | +303.4% | +18526.4% | +198.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
H World Group Limited's Debt/EBITDA ratio is 18.6x, up from 15.7x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 8.1% YoY to 0.91x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.78 | 2.78 | 3.09 | 3.07 | 3.31 | 2.89 | 2.95 | 2.83 | 2.91 | 2.93 | 2.65 | 3.05 | 3.68 |
| — | -3.6% | +4.7% | +8.4% | +13.6% | -1.4% | +11.3% | -7.0% | -21.0% | -41.2% | -48.5% | -35.5% | -18.6% | |
| Debt / EBITDA | 4.87 | 18.59 | 15.70 | 17.95 | 25.07 | 28.98 | 17.57 | 18.87 | 26.78 | 33.60 | 16.93 | 22.90 | 41.56 |
| — | -35.9% | -10.6% | -4.9% | -6.4% | -13.7% | +3.8% | -17.6% | -35.6% | -78.9% | -67.3% | -80.4% | — | |
| Current Ratio | 0.91 | 0.91 | 0.85 | 0.81 | 0.88 | 0.99 | 0.88 | 0.97 | 0.70 | 0.69 | 0.73 | 0.67 | 0.94 |
| — | -8.1% | -3.3% | -16.4% | +26.0% | +43.3% | +20.3% | +44.1% | -25.5% | -0.8% | +4.7% | +10.3% | +68.4% | |
| Quick Ratio | 0.91 | 0.91 | 0.84 | 0.81 | 0.88 | 0.99 | 0.87 | 0.96 | 0.69 | 0.69 | 0.72 | 0.67 | 0.93 |
| — | -8.0% | -3.1% | -16.3% | +26.1% | +43.3% | +20.3% | +44.2% | -25.5% | -0.5% | +5.0% | +10.7% | +69.2% | |
| Interest Coverage | 19.10 | 19.53 | 23.81 | 19.64 | 14.62 | 12.19 | 22.38 | 18.71 | 12.08 | 9.95 | 22.46 | 14.73 | 5.11 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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H World Group Limited's current P/E is 20.8x. The average P/E over the last 4 quarters is 2.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
H World Group Limited's current operating margin is 25.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking H World Group Limited's business trajectory between earnings reports.