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Financial statements

Chagee Holdings Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 1 fiscal years, taken from the XBRL data Chagee Holdings Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2025
Revenue1,846
Selling and marketing195
General and administrative350
Operating income193
Other non-operating income17.6
Pre-tax income231
Income tax61.7
Net income167
EBITDA214
EPS, basic0.90
EPS, diluted0.88
Shares, basic (weighted)162
Shares, diluted (weighted)165

Balance sheet

FY2025
Cash and equivalents1,088
Short-term investments14.3
Receivables20.9
Inventory32.6
Other current assets68.9
Total current assets1,266
Property, plant and equipment83.5
Lease right-of-use assets182
Goodwill14
Intangible assets1.73
Long-term investments0.3
Other non-current assets34
Total assets1,639
Accounts payable90.1
Deferred revenue42
Total current liabilities408
Lease liabilities122
Total liabilities556
Paid-in capital529
Retained earnings556
Treasury stock-30
Other comprehensive income-9.42
Shareholders' equity1,050
Total equity1,084
Total liabilities and equity1,639

Cash flow statement

FY2025
Net income170
Depreciation and amortization20.9
Stock-based compensation103
Deferred income tax-21.4
Change in receivables-5.11
Change in inventory-17
Change in payables6.75
Cash from operations235
Capital expenditures-59.6
Acquisitions-16.5
Purchases of investments-628
Cash from investing-118
Dividends paid-176
Cash from financing293
Net change in cash410
Free cash flow175
Interest paid0.15
Income taxes paid-90.1

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $11.41 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Operating margin10.4%Operating income / revenue.
EBITDA margin11.6%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin12.5%Pre-tax income / revenue.
Net margin9.1%Net income / revenue.
FCF margin9.5%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin12.7%Cash from operations / revenue.
Effective tax rate26.7%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)16.0%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)10.2%Net income / average total assets.
Stock-based pay / revenue5.6%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue3.2%Capital expenditures / revenue.
D&A / revenue1.1%Depreciation and amortization / revenue.

Balance sheet health

MetricValueHow it is calculated
Current ratio3.11xCurrent assets / current liabilities.
Quick ratio2.76x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio2.70x(Cash + short-term investments) / current liabilities.
Liabilities / assets33.9%Total liabilities / total assets.
Working capital$858.1MCurrent assets - current liabilities.
Goodwill and intangibles / assets1.0%(Goodwill + intangible assets) / total assets.
Tangible book value$1.03BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover1.13xRevenue / average total assets.
Fixed asset turnover22.1xRevenue / average property, plant and equipment.
Receivables turnover88.5xRevenue / average receivables.
Days sales outstanding4 days365 x average receivables / revenue.
FCF conversion104.8%Free cash flow / net income, when net income is positive.
Capex / operating cash flow25.4%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, diluted$0.88Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic$0.90Net income per basic share, as reported (split-adjusted).
Revenue per share$11.21Revenue / diluted weighted shares.
FCF per share$1.07Free cash flow / diluted weighted shares.
Operating cash flow per share$1.43Cash from operations / diluted weighted shares.
Book value per share$6.37Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$6.28Tangible book value / shares outstanding.
Cash per share$6.69(Cash + short-term investments) / shares outstanding.
Payout ratio105.3%Dividends paid / net income, when net income is positive.
Dividends / FCF100.5%Dividends paid / free cash flow, when free cash flow is positive.

Valuation

MetricValueHow it is calculated
Market cap$2.18BShare price x shares outstanding.
Enterprise value$1.07BMarket cap + total debt - cash - short-term investments.
P/E13.0xMarket cap / net income. Only when net income is positive.
P/S1.18xMarket cap / revenue.
P/B2.07xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book2.10xMarket cap / tangible book value, when positive.
P/FCF12.4xMarket cap / free cash flow. Only when free cash flow is positive.
P/OCF9.26xMarket cap / cash from operations, when positive.
EV/Sales0.58xEnterprise value / revenue.
EV/EBIT5.58xEnterprise value / operating income, when both are positive.
EV/EBITDA5.03xEnterprise value / EBITDA, when both are positive.
EV/FCF6.12xEnterprise value / free cash flow, when both are positive.
FCF yield8.1%Free cash flow / market cap.
Earnings yield7.7%Net income / market cap (the inverse of P/E).
Dividend yield8.1%Dividends paid over the period / market cap.
Shareholder yield8.1%(Dividends paid + share buybacks) / market cap.
What was Chagee Holdings Ltd.'s revenue in fiscal 2025?

Chagee Holdings Ltd. reported revenue of $1.85B for fiscal 2025.

Was Chagee Holdings Ltd. profitable in fiscal 2025?

Yes. Net income was $167.5M, a net margin of 9.1%.

How much free cash flow did Chagee Holdings Ltd. generate in fiscal 2025?

Cash from operations of $235.1M minus capital expenditures of $59.6M left free cash flow of $175.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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