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MARKETS / NASDAQ / HTHT
NASDAQ · HOTELS & MOTELS · LARGE CAP

H World Group Ltd. HTHT

17 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 25.3B
▲ 5.9% YoY
CNY 5.1B
▲ 66.7% YoY
In brief

What this company does

H World Group operates its hotels under three different operating models: leased and owned, franchised, and hotels operated under management contracts that it refers to as "manachised." As of December 31, 2025, the company had 12,858 hotels in operation, including 573 leased and owned hotels and 12,285 manachised and franchised hotels, with an aggregate of 1,264,419 hotel rooms. That network spanned 1,222 cities in 31 provinces and municipalities across the greater China region and 20 other countries. Its H Rewards loyalty program, which covers all of its brands, had more than 311 million members as of December 31, 2025. The company operates a portfolio of over 20 distinct hotel brands. Under the lease and ownership model the company directly operates hotels on leased or owned properties; under the manachise model it manages hotels through on-site managers it appoints and collects fees from franchisees; and under the franchise model it collects fees from franchisees without appointing on-site managers. Through its acquisition of Deutsche Hospitality, the company obtained exclusive rights to construct, operate, manage, franchise, and license hotels under the Jaz in the City brand in China, Southeast Asia, Japan, South Korea, and Europe, subject to certain exceptions.

Written from the business description in H World Group Ltd's annual report to the U.S. Securities and Exchange Commission, filed 24 April 2026. Every sentence was checked against that document before publication.

Growth
CNY 25.3B
Revenue, FY2025 · full 17-year series below
Revenue CNY B Net income CNY B
FY2025 · Revenue 25.3 · Net income 5.1
10B20B200920112013201520172019202120232025
Compound annual growth
+22.2%
+19.9%
+15.9%
+19.5%
+27.8%
+23.4%
+83.7%
+42.8%
+49.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +19.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
20 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 26.9% · Net 20.2%
10%20%-10%-20%200920112013201520172019202120232025
ROE
FY2025 · ROE 40.7%
20%40%-10%-20%200920112013201520172019202120232025

Each CNY of equity produced 41 cents of profit this year.

Cash & shareholders
CNY 4.7B
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2012 · FCF -282.3
25.0M50.0M-200.0M200920112013201520172019202120232025
Net buybacks CNY B Dividends CNY B
FY2025 · Dividends 3.9 · Net buybacks 0.7
2.0B4.0B-0.4B-0.8BDividendsNet buybacks2013201520172019202120232025

CNY 3.9B in dividends and CNY 745.0M in buybacks — 92% of the year's profit went back to shareholders.

Total assetsCNY 64.8B
EquityCNY 12.8B
CashCNY 10.4B
Gross debtCNY 5.8B
Net debtCNY -4.6B
Current ratio0.91×

The company holds more cash than debt.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue CNY B25.323.921.913.912.810.211.210.18.26.65.85.0·3.22.21.71.3
Operating income CNY B6.85.24.7−0.30.2−1.72.12.31.40.80.60.40.40.20.10.30.1
EBITDA CNY B8.16.56.11.21.7−0.33.13.22.21.51.31.00.80.60.30.40.2
Income tax CNY B2.21.71.20.20.0−0.20.60.60.40.30.20.10.10.10.00.10.0
Net income CNY B5.13.04.1−1.8−0.5−2.21.80.71.20.80.40.30.30.20.10.20.0
Free cash flow CNY B·············−0.3−0.30.10.0
EPS, diluted CNY 1.600.961.25−0.59−0.15−0.750.592.494.212.761.701.211.120.710.470.920.23
Dividend / sh CNY ·················
Payout %77114·−23·−3137·2535·······
ROE %40.725.139.2−18.5−4.2−23.426.111.621.217.713.110.210.67.45.310.2·
Shares out B3.073.083.163.113.123.112.860.280.280.280.250.250.250.240.240.24·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 10 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityHotels & Motels
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2009

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