H World Group Limited ADR Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $3.6B+10.5% YoYTTM through 31 Dec 2025
Net Income $726M+73.7% YoYTTM through 31 Dec 2025
Free Cash Flow $1.1BTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Gross Margin | 40.5% |
| EBITDA Margin | 31.9% |
| Operating Margin | 27.0% |
| Net Margin | 20.1% |
Returns
33.6%ROE
7.2%ROA
15.4%ROIC
Balance Sheet Health
Debt / Equity3.22x
Current Ratio0.93x
Net Debt$2.9B
Cash & Equivalents$1.5B
Quality Metrics
Altman Z-Score1.86
Piotroski F-Score8 / 9
FCF Margin29.8%
Earnings-Beat Rate75.0%
Multi-Year Trend
RevenueFY2025: $25.3B
Diluted EPS$0.23TTMFY2025: $1.56
Dividend
$1.30Per share, FY20264.89%Yield+30.8%5-yr growth
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Legacy-Huazhu | $2.9B | +7.9% | View detailsFocusing on lower-tier city penetration and economy/midscale hotel upgrades in China. |
| Legacy-DH | -1.8% | View detailsFocusing on cost reduction, efficiency improvement, and asset structure optimization in 2026. |
Financials converted at 6.9961 from CNY.
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