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TH International Limited

THCH

NASDAQConsumer CyclicalRestaurants

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$1.1899

+$0.0699 · +6.24%

Aug 21, 4:00 PM ET

THCH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

34

Expensive

Momentum

28

Weakening

Sentiment

51

Mixed

Risk resilience

33

High Risk

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Company profile

Company website

TH International Limited manages Tim Hortons coffee establishments across mainland China, Hong Kong, and Macau. By September 28, 2022, the company had expanded its network to include roughly 460 coffee shops throughout the People's Republic of China. This enterprise was founded in 2018, with its corporate headquarters located in Shanghai, People's Republic of China, operating as a division of Tim Hortons Inc.

Industry
Restaurants
Sector
Consumer Cyclical
Headquarters
CN
CEO
Kwok Wah Cheung
Listed since
Mar 11, 2021
Employees
1,544

Market position

Day range

Current $1.1899

52-week range

Current $1.1899

Open
$1.3199
Previous close
$1.12
Volume
32.48K
4.27× average
Average volume
7.61K
Average daily volume
Market cap
38.12M USD
Beta
0.5
Market reference 1
50-day average
$1.6885
-29.53% below average
200-day average
$2.0431
-41.76% below average

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends24%-11%-47%-82%Gross margin, FY2021: 2.15%Gross margin, FY2022: 3.27%Gross margin, FY2023: 10.02%Gross margin, FY2024: 15.35%Gross margin, FY2025: 6.06%Operating margin, FY2021: -57.81%Operating margin, FY2022: -55.89%Operating margin, FY2023: -34.62%Operating margin, FY2024: -20.75%Operating margin, FY2025: -19.30%Net margin, FY2021: -59.33%Net margin, FY2022: -73.45%Net margin, FY2023: -56.17%Net margin, FY2024: -29.62%Net margin, FY2025: -33.01%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 2.15%. Gross margin FY2022 3.27%. Gross margin FY2023 10.02%. Gross margin FY2024 15.35%. Gross margin FY2025 6.06%. Operating margin FY2021 -57.81%. Operating margin FY2022 -55.89%. Operating margin FY2023 -34.62%. Operating margin FY2024 -20.75%. Operating margin FY2025 -19.30%. Net margin FY2021 -59.33%. Net margin FY2022 -73.45%. Net margin FY2023 -56.17%. Net margin FY2024 -29.62%. Net margin FY2025 -33.01%.

Income trends

Revenue

1.28B USD-7.97%

Operating income

−247.1M USD+14.39%

Net income

−422.65M USD-2.57%
Income trends across reported periods1.8B USD829.13M USD−145.37M USD−1.12B USDRevenue, FY2021: 643.37M USDRevenue, FY2022: 1.01B USDRevenue, FY2023: 1.56B USDRevenue, FY2024: 1.39B USDRevenue, FY2025: 1.28B USDOperating income, FY2021: −371.92M USDOperating income, FY2022: −565.13M USDOperating income, FY2023: −540.09M USDOperating income, FY2024: −288.65M USDOperating income, FY2025: −247.1M USDNet income, FY2021: −381.72M USDNet income, FY2022: −742.65M USDNet income, FY2023: −876.25M USDNet income, FY2024: −412.08M USDNet income, FY2025: −422.65M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 643.37M USD. Revenue FY2022 1.01B USD. Revenue FY2023 1.56B USD. Revenue FY2024 1.39B USD. Revenue FY2025 1.28B USD. Operating income FY2021 −371.92M USD. Operating income FY2022 −565.13M USD. Operating income FY2023 −540.09M USD. Operating income FY2024 −288.65M USD. Operating income FY2025 −247.1M USD. Net income FY2021 −381.72M USD. Net income FY2022 −742.65M USD. Net income FY2023 −876.25M USD. Net income FY2024 −412.08M USD. Net income FY2025 −422.65M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.28B USD1.39B USD1.56B USD1.01B USD643.37M USD
Cost of goods sold1.2B USD1.18B USD1.4B USD978.01M USD629.57M USD
Gross profit77.62M USD213.56M USD156.34M USD33.05M USD13.81M USD
Selling, general, and administrative321.53M USD275.17M USD421.94M USD370.56M USD225.28M USD
Operating expenses324.72M USD502.21M USD696.43M USD598.18M USD385.72M USD
Interest income3.43M USD3.2M USD14.25M USD2.7M USD315.55K USD
Interest expense16.22M USD22.45M USD20.43M USD14.8M USD1.9M USD
Depreciation and amortization104.99M USD169.68M USD163.15M USD133.4M USD74.28M USD
Operating income−247.1M USD−288.65M USD−540.09M USD−565.13M USD−371.92M USD
Net income−422.65M USD−412.08M USD−876.25M USD−742.65M USD−381.72M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
9%
1 beat, 10 misses, 0 met estimates
Average EPS surprise
-100.11%
11 comparable reports
Latest EPS result
-0.44
Estimate -0.25 · Miss by 77.10%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-0.12-0.44-0.75-1.07Q2 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ2 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q2 2025, reported Apr 15, 2025: actual -0.555, estimate -0.218, surprise -154.71%, Miss. Q2 2025, reported Jun 24, 2025: actual -0.29, estimate -0.258, surprise -12.57%, Miss. Q3 2025, reported Aug 26, 2025: actual -0.324, estimate -0.172, surprise -88.48%, Miss. Q4 2025, reported Dec 9, 2025: actual -0.315, estimate -0.145, surprise -117.48%, Miss. Q2 2026, reported Apr 14, 2026: actual -1, estimate -0.19, surprise -426.92%, Miss. Q2 2026, reported Jun 9, 2026: actual -0.49, estimate -0.209, surprise -134.62%, Miss. Q3 2026, reported Aug 18, 2026: actual -0.44, estimate -0.249, surprise -77.10%, Miss. Q4 2026, reported Nov 18, 2026: actual —, estimate -0.236, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates57.7M49.58M41.45M33.32MQ2 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ2 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q2 2025, reported Apr 15, 2025: actual 45.56M USD, estimate 50.91M USD, surprise -10.51%, Miss. Q2 2025, reported Jun 24, 2025: actual 41.43M USD, estimate 49.28M USD, surprise -15.92%, Miss. Q3 2025, reported Aug 26, 2025: actual 48.7M USD, estimate 53.98M USD, surprise -9.78%, Miss. Q4 2025, reported Dec 9, 2025: actual 50.28M USD, estimate 55.48M USD, surprise -9.39%, Miss. Q2 2026, reported Apr 14, 2026: actual 35.54M USD, estimate 51.22M USD, surprise -30.62%, Miss. Q2 2026, reported Jun 9, 2026: actual 37.21M USD, estimate 46.36M USD, surprise -19.74%, Miss. Q3 2026, reported Aug 18, 2026: actual 40.26M USD, estimate 42.14M USD, surprise -4.46%, Miss. Q4 2026, reported Nov 18, 2026: actual —, estimate 46.31M USD, surprise —, Comparison unavailable.

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