6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings, in CNY as reported — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | CN¥1.3B | -CN¥434M | 87.0% | -24.1% | 35.0% | -36.9% | -CN¥78M | — | CN¥122M |
| 2024 | CN¥1.4B | -CN¥412M | 89.0% | -25.1% | 49.0% | -26.4% | -CN¥143M | CN¥381M | CN¥152M |
| 2023 | CN¥1.6B | -CN¥876M | 90.4% | -42.8% | 205.1% | -39.6% | -CN¥488M | CN¥543M | CN¥202M |
| 2022 | CN¥1.0B | -CN¥743M | 95.2% | -57.5% | -682.3% | -28.1% | -CN¥622M | CN¥417M | CN¥239M |
| 2021 | CN¥643M | -CN¥382M | 97.4% | -58.2% | -113.8% | -29.7% | -CN¥580M | CN¥204M | CN¥391M |
| 2020 | — | -CN¥142M | — | — | — | — | -CN¥291M | — | — |
How the market has priced THCH against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, TH International Ltd's revenue has grown 19.6% per year. These are computed facts, not advice.
As of FY2025, TH International Ltd reported — of total debt against CN¥122M of cash; operating income covered interest expense -19.0×.
In FY2025, gross margin was 87.0%, operating margin -24.1%, and net margin -33.0%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in CNY as reported (valuation multiples convert at the Federal Reserve H.10 rate of each date, via FRED) (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (annual and interim filings, reported in CNY) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · FX: Federal Reserve H.10 via FRED (DEXCHUS; 1 CNY = 0.1503 USD on 2026-10-30), the rate of each date for the valuation history · This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.