Last 24 quarters of trend data · Consumer Cyclical · Restaurants
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| 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 → | -0.84 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 0.27 | 0.07 | 0.06 | 0.07 | 0.08 | 0.09 | 0.09 | 0.10 | 0.14 | 0.18 | 0.17 | 0.27 | 0.42 |
| — | -23.2% | -35.7% | -29.3% | -42.7% | -51.7% | -44.8% | -63.2% | -67.3% | -44.7% | -72.8% | -85.6% | -71.3% | |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — | 19.14 | 5.58 |
| — | — | — | — | — | — | — | — | — | — | — | -81.4% | +43.0% | |
| P/FCF | — | — | — | — | — | — | — | 1.13 | — | — | — | 453.88 | — |
| — | — | — | — | — | — | — | -99.8% | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
TH International Limited's operating margin was -28.2% in Q4 2025, down 12.7 pp QoQ and up 2.1 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of -19.5% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 76.9% YoY, suggesting cost inflation or competitive pricing pressure.
| 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 | 6.1% | 3.1% | 17.4% | 17.2% | 14.8% | 13.5% | 20.2% | 17.0% | 10.2% | 5.5% | 12.4% | 12.5% | 8.1% |
| — | -76.9% | -13.4% | +1.7% | +45.0% | +144.5% | +62.7% | +35.1% | +26.1% | +10.9% | -29.7% | +176.6% | +378.6% | |
| Operating Margin | -19.3% | -28.2% | -15.5% | -10.9% | -23.6% | -30.3% | -10.9% | -14.9% | -36.5% | -59.3% | -34.0% | -41.6% | -38.8% |
| — | +6.9% | -41.8% | +26.9% | +35.4% | +48.9% | +67.9% | +64.2% | +5.8% | -36.2% | +30.9% | +54.6% | +35.5% | |
| Net Margin | -33.0% | -74.0% | -20.4% | -21.6% | -19.3% | -39.6% | -24.7% | -13.0% | -43.4% | -79.8% | -37.0% | -55.5% | -52.0% |
| — | -87.0% | +17.6% | -66.5% | +55.5% | +50.4% | +33.2% | +76.6% | +16.6% | -7.4% | +41.8% | +42.7% | +22.5% |
| 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 | — | — | — | — | — | — | — | — | — | — | — | -366.2% | -164.7% |
| — | — | — | — | — | — | — | — | — | — | — | -270.9% | -270.9% | |
| ROA | -30.8% | -18.2% | -5.4% | -5.2% | -3.8% | -8.1% | -5.1% | -2.5% | -6.8% | -12.9% | -6.2% | -8.7% | -6.6% |
| — | -124.5% | -7.2% | -112.7% | +43.9% | +37.2% | +18.4% | +71.8% | -3.0% | -26.6% | +52.3% | +37.7% | — | |
| ROIC | -24.8% | -10.4% | -6.1% | -3.8% | -6.4% | -8.0% | -2.8% | -4.1% | -8.5% | -13.0% | -7.3% | -8.3% | -6.2% |
| — | -30.2% | -120.6% | +6.5% | +25.3% | +38.6% | +62.3% | +51.1% | -37.9% | -51.6% | +61.8% | +57.9% | +63.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 20.0% YoY to 0.33x, strengthening 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 | — | — | — | — | — | — | — | — | — | — | — | 79.02 | 17.58 |
| — | — | — | — | — | — | — | — | — | — | — | +28.5% | — | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 0.33 | 0.33 | 0.25 | 0.26 | 0.27 | 0.27 | 0.30 | 0.45 | 0.31 | 0.33 | 0.47 | 0.51 | 0.64 |
| — | +20.0% | -18.0% | -42.8% | -12.6% | -17.4% | -36.7% | -11.9% | -51.9% | -45.6% | -51.9% | -18.2% | — | |
| Quick Ratio | 0.29 | 0.29 | 0.22 | 0.24 | 0.25 | 0.25 | 0.28 | 0.41 | 0.28 | 0.29 | 0.42 | 0.45 | 0.59 |
| — | +17.0% | -19.9% | -42.8% | -11.6% | -15.4% | -34.8% | -8.7% | -52.0% | -46.9% | -54.4% | -19.0% | — | |
| Interest Coverage | -25.10 | -55.56 | -16.34 | -14.62 | -15.48 | -36.31 | -20.33 | -9.84 | -23.09 | -45.69 | -31.27 | -44.39 | -39.23 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 24 years · Updated daily
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Quick answers to the most common questions about buying THCH stock.
TH International Limited's current P/E is -0.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
TH International Limited's current operating margin is -19.3%. Margins have been compressing 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 TH International Limited's business trajectory between earnings reports.