CHA Chagee Holdings Ltd.

Overview and Growth

In fiscal 2025, Chagee Holdings Ltd. recorded $1.85B of revenue, net income of $167.47M, and an operating cash inflow of $235.10M. Revenue of $1.85B sets the scale for evaluating how effectively sales translated into profit and cash during the year. On a per-share basis, diluted EPS was $0.88, which connects the reported earnings outcome with the company’s diluted share count. Diluted shares averaged 164.71M; this is the reported share base over which the company’s diluted per-share earnings were spread. At period end, total assets were $1.64B, framing the scale of the company’s operating and financing commitments. Revenue equaled 1.13x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The reported operating result was $192.65M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 10.4%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $167.47M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 9.1% margin after operating costs and the remaining recognized items. EBITDA was $213.58M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. Pretax income was $231.38M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 12.5% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $61.74M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 26.7%, without assuming a statutory-rate comparison. Net income equaled 15.5% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 10.2%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

At period end, the $1.64B asset base was financed through $555.67M of liabilities and $1.08B of equity. Current assets were $1.27B against $407.54M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 3.11x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $1.09B, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 266.9%, excluding receivables and other current assets. Equity equaled 66.1% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 33.9% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 66.4%, comparing reported cash and equivalents with the full positive asset balance.

Cash Flow and Earnings Quality

The company reported $235.10M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.4x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $59.64M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 25.4% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $175.46M of positive free cash flow for the period. The free-cash-flow margin was 9.5%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 10.7% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.