TH International Limited

TH International Limited

THCH
TH International LimitedUS flagNASDAQ Capital Market
1.73
USD
+0.02
- -
55.42MMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.13
7.88
23.89
39.46
50.59
42.88
40.47
39.11
Basic EPS, GAAP
-3.26
-5.27
-14.18
-28.99
-28.41
-12.7
-13.36
-14.95
Free Cash Flow per Basic Share
-4.95
-10.79
-21.55
-24.27
-15.82
-4.39
-2.41
-1.11
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
- -
-9.5
-23.68
-53.87
-73.17
-82.25
-95.42
-98.78
Tangible Book Value per Share
- -
13.78
9.71
0.56
-17.3
-28.67
-40.51
-43.12
Basic Weighted Avg Shares
27
27
27
26
31
32
33
33
Sales/Revenue/Turnover
57
212
643
1,011
1,560
1,391
1,316
1,272
Operating Margin (%)
-159.38
-66.56
-57.81
-55.89
-34.62
-20.75
-19.04
-19.29
Depreciation Expense
9
28
74
133
163
170
147
101
Net Income, GAAP
-88
-142
-382
-743
-876
-412
-434
-486
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-153.09
-66.95
-59.33
-73.45
-56.17
-29.62
-33.01
-38.23
Working Capital
- -
123
19
-521
-937
-1,119
-676
-723
LT Debt
- -
- -
330
1,183
1,080
845
1,393
1,359
Total Equity
- -
433
339
110
-422
-833
-1,236
-1,326
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1,109
576
587
LT Borrowings
426
1,153
1,167
LT Finance Leases
263
240
192
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
32
32
32
Market Capitalization
600
567
462

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
396
327
285
Cash, Cash Equivalents & STI
132
135
105
Accounts Receivable, Net
18
18
15
Inventories
40
37
33
Total Current Liabilities
1,616
1,002
1,007
Payables & Accruals
316
364
221
ST Debt
1,109
576
587
Deferred Revenue
36
37
33

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-85.3%
48.43%
Free Cash Flow
- -
-6.1%
-45.04%
Net Income, GAAP
- -
46.77%
5.44%
Sales/Revenue/Turnover
- -
59.72%
-5.39%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
332
367
360
333
1,391
2025
301
349
358
308
1,316
2026
257
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-4.48
-1.45
-2.75
-4.05
-12.7
2025
-1.78
-2.32
-2.24
-7.01
-13.36
2026
-3.38
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Yongchen Lu
Full Time Employees
2,367
Sector
Consumer Cyclical
Industry
Restaurants
Address
2501 Central Plaza Shanghai People's Republic of China 200003
IPO Date
Mar 11, 2021
Business
TH International Limited (Nasdaq: THCH) operates and franchises Tim Hortons coffee shops in China, providing quick-service restaurant services focused on coffee, baked goods, and other food and beverage items. The company offers core products including premium coffee blends such as Tim Hortons Original Blend and Dark Roast, signature baked goods like Timbits doughnut holes, donuts, muffins, cookies, and croissants; breakfast items comprising breakfast sandwiches, bagels, and oatmeal; and additional menu options such as specialty beverages, iced cappuccinos, smoothies, soups, chili, and limited-time offerings tailored to local tastes. Through its exclusive master license agreement with Restaurant Brands International Inc., TH International manages restaurant operations, franchising, and supply chain activities across mainland China, Hong Kong, and Macau. Founded in 2018 and headquartered in Shanghai, China, the company targets urban consumers seeking convenient, high-quality fast food in the competitive quick-service restaurant sector. In recent developments, TH International has expanded its store footprint with new openings in key cities and pursued strategic growth initiatives amid China's recovering consumer market post-pandemic.

Company News

MCPAPIChat
  • TH International Limited (THCH) Q1 2026 Earnings Call Transcript

  • TH International Q1 Earnings Call Highlights

  • Tims China Announces First Quarter 2026 Financial Results

  • Tims China Announces Appointment of Mr. Kwok Wah Cheung as Chief Executive Officer and Issuance of Additional Senior Secured Convertible Notes

  • Tims China to Announce First Quarter 2026 Financial Results on June 9, 2026

  • TH International Q4 Earnings Call Highlights

  • TH International Limited (THCH) Q4 2025 Earnings Call Transcript

  • Tims China Announces Fourth Quarter and Full Year 2025 Financial Results

  • Tims China Announces Q4 and Full Year 2025 Results Conference Call

  • TH International (NASDAQ:THCH) vs. Chipotle Mexican Grill (NYSE:CMG) Head to Head Contrast

  • TH International Limited (NASDAQ:THCH) Short Interest Update

  • Tims China Marks 7th Anniversary, Partners with Air Canada to Celebrate a Club-Members only “Maple Journey” Promotion*

  • Head to Head Review: Dutch Bros (NYSE:BROS) and TH International (NASDAQ:THCH)

  • Analyzing Super Hi International (NASDAQ:HDL) & TH International (NASDAQ:THCH)

  • Comparing TH International (NASDAQ:THCH) and Rocky Mountain Chocolate Factory (NASDAQ:RMCF)

  • TH International Limited (THCH) Q3 2025 Earnings Call Transcript

  • Tims China Announces Third Quarter 2025 Financial Results

  • Tims China and Tencent's CarbonXmade Launch Innovative Eco-friendly Straw Made with Captured CO₂

  • TH International (NASDAQ:THCH) Stock Price Down 0.6% – Time to Sell?

  • Tims China to Announce Third Quarter 2025 Financial Results on December 9, 2025