ATAT vs GHG
Atour Lifestyle Holdings Ltd. and GreenTree Hospitality Group Ltd., side by side — 6 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | ATAT | GHG |
|---|---|---|
| Revenue | CNY 9.8B | CNY 1.1B |
| Net income | CNY 1.6B | CNY 166.8M |
| Gross margin | · | 34.9% |
| Net margin | 16.6% | 14.9% |
| Return on equity | 49.5% | 11.0% |
| Diluted EPS | CNY 3.87 | · |
| Dividend / share | · | · |
| Payout ratio | 47.6% | 25.8% |
| Free cash flow | CNY 1.9B | CNY 20.1M |
| Equity | CNY 3.6B | CNY 1.6B |
| Net debt / equity | −0.85× | −0.85× |
| Current ratio | 1.97× | 1.61× |
| Revenue CAGR 5y | 44.3% | 3.4% |
| Profit CAGR 5y | 107.6% | −8.6% |
ATAT bills 8.9× the revenue of GHG, and keeps more of each dollar of revenue as profit (16.6% against 14.9%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | ATAT | GHG |
|---|---|---|
| FY2025 | CNY 9.8B | CNY 1.1B |
| FY2024 | CNY 7.2B | CNY 1.3B |
| FY2023 | CNY 4.7B | CNY 1.6B |
| FY2022 | CNY 2.3B | CNY 1.5B |
| FY2021 | CNY 2.1B | CNY 2.0B |
| FY2020 | CNY 1.6B | CNY 930.0M |
Bottom line
| Fiscal year | ATAT | GHG |
|---|---|---|
| FY2025 | CNY 1.6B | CNY 166.8M |
| FY2024 | CNY 1.3B | CNY 110.0M |
| FY2023 | CNY 737.1M | CNY 269.3M |
| FY2022 | CNY 98.1M | CNY -425.2M |
| FY2021 | CNY 145.1M | CNY 88.7M |
| FY2020 | CNY 42.1M | CNY 261.3M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 8,692,805,607 | ATAT |
| FY2024 | +CNY 5,904,491,804 | ATAT |
| FY2023 | +CNY 3,038,709,311 | ATAT |
| FY2022 | +CNY 793,908,725 | ATAT |
| FY2021 | +CNY 179,761,981 | ATAT |
| FY2020 | +CNY 636,541,904 | ATAT |
ATAT has reported the higher revenue in every one of these 6 fiscal years. The gap has widened since the earliest year compared.
6 of 10 comparable fiscal years — a year missing data on either side is not counted.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +1.7 pp | ATAT |
| FY2024 | +9.6 pp | ATAT |
| FY2023 | −0.2 pp | GHG |
| FY2022 | +35.7 pp | ATAT |
| FY2021 | +2.3 pp | ATAT |
| FY2020 | −23.9 pp | GHG |
The higher net margin has changed hands between ATAT and GHG over this period.
6 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
GHG's net margin has been more volatile than ATAT's over the 6 comparable fiscal years — 18.3 percentage points of standard deviation against 6.3.
6 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between ATAT and GHG over these 6 fiscal years — ATAT led in 4 and GHG in 2.
6 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ATAT's return on equity has been more volatile than GHG's over the 4 comparable fiscal years — 16.3 percentage points of standard deviation against 16.2.
4 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ATAT led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 10 comparable fiscal years — a year missing data on either side is not counted.