Latest Ratios: P/E Ratio 12.6x · EV/EBITDA 5.4x · ROE 22.7%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $2.1B | $1.9B | — | — | — |
| Enterprise Value | $1.2B | $-4447707297 | — | — | — |
| P/E Ratio → | 12.55 | 1.94 | — | — | — |
| P/S Ratio | 1.11 | 0.15 | — | — | — |
| P/B Ratio | 1.64 | 0.25 | — | — | — |
| P/FCF | 12.08 | 1.61 | — | — | — |
| P/OCF | 8.75 | 1.17 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | -0.34 | — | — | — |
| EV / EBITDA | 5.38 | -2.98 | — | — | — |
| EV / EBIT | 5.96 | -2.75 | — | — | — |
| EV / FCF | — | -3.73 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 45.8% | 45.8% | 45.8% | 42.5% | 27.1% |
| Operating Margin | 10.4% | 10.4% | 23.3% | 23.1% | -23.6% |
| Net Profit Margin | 9.1% | 9.1% | 20.3% | 17.3% | -18.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 22.7% | 22.7% | 159.0% | 1558.3% | — |
| ROA | 13.0% | 13.0% | 52.8% | 48.0% | -23.0% |
| ROIC | 82.9% | 82.9% | — | — | — |
| ROCE | 20.9% | 20.9% | 99.8% | 135.6% | -120.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.17 | 0.20 | 0.27 | — |
| Debt / EBITDA | 0.85 | 0.85 | 0.19 | 0.10 | — |
| Net Debt / Equity | — | -0.84 | -1.53 | -5.40 | — |
| Net Debt / EBITDA | -4.26 | -4.26 | -1.43 | -2.04 | — |
| Debt / FCF | — | -5.34 | -1.62 | -1.16 | -4.25 |
| Interest Coverage | — | — | — | — | — |
Net cash position: cash ($7.6B) exceeds total debt ($1.3B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 3.11 | 3.11 | 2.37 | 1.82 | 0.93 |
| Quick Ratio | 3.03 | 3.03 | 2.31 | 1.79 | 0.81 |
| Cash Ratio | 2.80 | 2.80 | 2.11 | 1.67 | 0.67 |
| Asset Turnover | — | 1.13 | 1.88 | 1.58 | 1.25 |
| Inventory Turnover | 30.64 | 30.64 | 50.91 | 64.32 | 10.81 |
| Days Sales Outstanding | — | 4.19 | 5.78 | 9.92 | 19.37 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | 9.9% | 64.4% | — | — | — |
| Payout Ratio | 105.3% | 105.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 8.0% | 51.7% | — | — | — |
| FCF Yield | 8.3% | 62.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 9.9% | 64.4% | — | — | — |
| Shares Outstanding | — | $165M | $184M | $184M | $184M |
Operational Margin Collapse
According to current market data, CHA trades at a P/E of 13.72, which appears to discount the recent revenue contraction and suggests that investors are increasingly skeptical of the company's ability to return to the high-growth trajectory observed in previous fiscal periods.
The forward P/E of 1.33 implies a market expectation of significant earnings compression or a potential re-rating as the company transitions from a high-growth phase to a more mature, albeit struggling, operational state. Given the current 9.1% dividend yield, the valuation appears to be shifting toward a value-oriented profile, which may be inconsistent with the inherent volatility of the beverage retail sector.
Based on reported figures, ROIC has deteriorated from a peak of 59.2% in 2025Q3 to a negative 2.6% in 2025Q4, signaling that the company is currently failing to generate adequate returns on its massive asset base compared to its historical performance.
This sharp decline in capital efficiency suggests that the recent expansion of the asset base has not been matched by proportional earnings growth. Investors should monitor whether this decay is a temporary byproduct of aggressive infrastructure investment or a permanent impairment of the company's ability to compound capital effectively.
As reported in recent financial statements, the cash conversion cycle has shifted from -25 days in 2023Q4 to -15 days in 2025Q4, indicating a subtle but meaningful reduction in the company's ability to leverage its supply chain for interest-free financing.
While a negative CCC remains a hallmark of a strong franchise model, the trend toward zero suggests that the company's bargaining power with suppliers or its ability to collect from franchisees may be weakening. This shift warrants further investigation into whether the company is offering more lenient credit terms to maintain its franchise footprint during a period of slowing consumer demand.
According to recent balance sheet filings, the company maintains a current ratio of 3.11, which provides a substantial buffer against short-term obligations despite the recent collapse in operating margins and the transition to negative free cash flow.
While this liquidity position is technically robust, the lack of deployment into high-ROI projects suggests that the capital is currently acting as a drag on overall return metrics. The company appears to be in a defensive posture, holding cash that may be intended for future strategic pivots rather than immediate operational reinvestment.
The most commonly misapplied metric for CHA is the P/S ratio, which obscures the fact that the company functions more as a supply chain logistics provider than a traditional beverage retailer, leading to an overestimation of its sensitivity to consumer-facing price wars.
Analysts should instead focus on the margin contribution from raw material sales to franchisees, as this segment likely provides the true underlying earning power of the business. Relying on retail-centric multiples fails to account for the structural differences between direct-operated store revenue and the more stable, recurring revenue derived from the franchise supply chain.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CHA stock.
Chagee Holdings Limited American Depositary Shares's current P/E ratio is 12.6x. The historical average is 1.9x. This places it at the 100th percentile of its historical range.
Chagee Holdings Limited American Depositary Shares's current EV/EBITDA is 5.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Chagee Holdings Limited American Depositary Shares's return on equity (ROE) is 22.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 90.8%.
Based on historical data, Chagee Holdings Limited American Depositary Shares is trading at a P/E of 12.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Chagee Holdings Limited American Depositary Shares's current dividend yield is 9.92% with a payout ratio of 105.3%.
Chagee Holdings Limited American Depositary Shares has 45.8% gross margin and 10.4% operating margin. Operating margin between 10-20% is typical for established companies.
Chagee Holdings Limited American Depositary Shares's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.