CHA vs THCH
Chagee Holdings Ltd. and TH International Ltd., side by side — 3 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | CHA | THCH |
|---|---|---|
| Revenue | CNY 12.9B | CNY 1.3B |
| Net income | CNY 1.2B | CNY -434.5M |
| Gross margin | · | 87.0% |
| Net margin | 9.2% | −33.1% |
| Return on equity | 23.4% | · |
| Diluted EPS | CNY 6.18 | −CNY 13.36 |
| Dividend / share | · | · |
| Payout ratio | 105.3% | · |
| Free cash flow | CNY 1.2B | CNY -78.3M |
| Equity | CNY 7.3B | CNY -1.2B |
| Net debt / equity | · | · |
| Current ratio | 3.11× | 0.33× |
| Revenue CAGR 5y | · | 44.1% |
| Profit CAGR 5y | · | · |
CHA bills 9.8× the revenue of THCH, and THCH closed the last reported year at a loss.
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.
3 years side by side
| Fiscal year | CHA | THCH |
|---|---|---|
| FY2025 | CNY 12.9B | CNY 1.3B |
| FY2024 | CNY 12.4B | CNY 1.4B |
| FY2023 | CNY 4.6B | CNY 1.6B |
Bottom line
| Fiscal year | CHA | THCH |
|---|---|---|
| FY2025 | CNY 1.2B | CNY -434.5M |
| FY2024 | CNY 2.5B | CNY -412.1M |
| FY2023 | CNY 800.9M | CNY -876.3M |
Standard deviation, each side
THCH's net margin has been more volatile than CHA's over the 3 comparable fiscal years — 11.7 percentage points of standard deviation against 4.7.
3 of 6 comparable fiscal years — a year missing data on either side is not counted.
Year by year
CHA led in net margin in every one of the 3 comparable fiscal years — a structural lead, not a recent swing.
3 of 6 comparable fiscal years — a year missing data on either side is not counted.