NASDAQ : ATAT
Atour Lifestyle Holdings Limited — Financial statements
Consumer Discretionary · Lodging · China
Last price 32.52 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 4.47B
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Financial statements
Atour Lifestyle Holdings Limited (ATAT) reported revenue of 11.72B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 11.49B | 9.57B | 7.05B | 4.52B | 2.17B | 2.04B |
| Other Revenue | 226.00M | 219.95M | 199.02M | 148.38M | 95.60M | 105.44M |
| Revenue | 11.72B | 9.79B | 7.25B | 4.67B | 2.26B | 2.15B |
| Cost of Revenue | 6.59B | 5.40B | 4.14B | 2.69B | 1.55B | 1.54B |
| Gross Profit | 5.13B | 4.39B | 3.11B | 1.97B | 717.86M | 606.63M |
| Selling, General & Admin | 2.36B | 2.01B | 1.33B | 921.07M | 489.94M | 333.17M |
| Research & Development | 203.21M | 177.92M | 134.02M | 77.29M | 66.18M | 52.12M |
| Other Operating Expenses | -280.35M | -158.26M | -25.71M | -10.64M | -3.22M | 19.59M |
| Operating Expenses | 2.28B | 2.03B | 1.43B | 987.72M | 552.90M | 410.58M |
| Operating Income | 2.85B | 2.36B | 1.68B | 984.55M | 164.96M | 196.06M |
| Interest Expense | -6.11M | -4.25M | -3.11M | -5.00M | -6.50M | -7.94M |
| Interest & Investment Income | 48.34M | 72.17M | 48.41M | 29.57M | 14.46M | 6.72M |
| Other Non Operating Income (Expenses) | -29.76M | -56.55M | 2.46M | -1.02M | -814.00K | 301.00K |
| EBT Excluding Unusual Items | 2.86B | 2.37B | 1.72B | 1.01B | 172.10M | 195.14M |
| Gain (Loss) on Sale of Investments | 49.84M | 44.87M | 48.94M | 34.52M | 8.46M | 8.74M |
| Asset Writedown | -55.44M | -55.44M | -54.66M | -60.52M | ||
| Pretax Income | 2.85B | 2.36B | 1.72B | 982.09M | 180.56M | 203.89M |
| Income Tax Expense | 889.48M | 741.65M | 446.03M | 243.04M | 84.47M | 64.22M |
| Earnings From Continuing Operations | 1.96B | 1.62B | 1.27B | 739.06M | 96.08M | 139.67M |
| Minority Interest in Earnings | 884.00K | -270.00K | 2.36M | -1.92M | 2.02M | 5.38M |
| Net Income | 1.97B | 1.62B | 1.28B | 737.14M | 98.10M | 145.05M |
| Preferred Dividends & Other Adjustments | 15.12M | |||||
| Net Income to Common | 1.97B | 1.62B | 1.28B | 737.14M | 98.10M | 129.94M |
| Shares Outstanding (Basic) | 137.47M | 138.54M | 137.89M | 135.21M | 126.44M | 107.72M |
| Shares Outstanding (Diluted) | 138.70M | 139.77M | 139.08M | 138.27M | 127.20M | 107.72M |
| EPS (Basic) | 14.30 | 11.70 | 9.25 | 5.45 | 0.78 | 1.21 |
| EPS (Diluted) | 14.19 | 11.61 | 9.18 | 5.34 | 0.78 | 1.20 |
| Free Cash Flow | 2.30B | 1.91B | 1.67B | 1.95B | 247.25M | 353.91M |
| Free Cash Flow Per Share | 16.61 | 13.64 | 12.01 | 14.08 | 1.94 | 3.29 |
| Dividend Per Share | 5.46 | 3.28 | 1.06 | |||
| Gross Margin | 43.75% | 44.82% | 42.92% | 42.27% | 31.72% | 28.25% |
| Operating Margin | 24.30% | 24.13% | 23.14% | 21.10% | 7.29% | 9.13% |
| Profit Margin | 16.77% | 16.56% | 17.60% | 15.80% | 4.33% | 6.05% |
| Free Cash Flow Margin | 19.66% | 19.48% | 23.04% | 41.73% | 10.93% | 16.48% |
| EBITDA | 2.90B | 2.42B | 1.74B | 1.07B | 253.52M | 288.67M |
| EBITDA Margin | 24.78% | 24.68% | 24.04% | 22.92% | 11.20% | 13.44% |
| D&A For EBITDA | 57.20M | 54.11M | 65.23M | 85.02M | 88.56M | 92.61M |
| EBIT | 2.85B | 2.36B | 1.68B | 984.55M | 164.96M | 196.06M |
| EBIT Margin | 24.30% | 24.13% | 23.14% | 21.10% | 7.29% | 9.13% |
| Effective Tax Rate | 31.17% | 31.39% | 25.95% | 24.75% | 46.78% | 31.50% |
| Revenue as Reported | 11.72B | 9.79B | 7.25B | 4.67B | 2.26B | 2.15B |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.92B | 3.30B | 3.62B | 2.84B | 1.59B | 1.04B |
| Short-Term Investments | 1.80B | 2.58B | 1.28B | 754.12M | 159.97M | 2.90M |
| Cash & Short-Term Investments | 5.72B | 5.88B | 4.89B | 3.59B | 1.75B | 1.04B |
| Accounts Receivable | 421.37M | 341.45M | 188.98M | 167.28M | 141.44M | 107.13M |
| Other Receivables | 191.78M | 249.48M | 178.36M | 130.30M | 73.69M | 74.24M |
| Receivables | 613.15M | 590.92M | 367.33M | 297.58M | 215.13M | 181.37M |
| Inventory | 173.93M | 368.66M | 223.73M | 138.71M | 63.45M | 70.82M |
| Prepaid Expenses | 3.00M | 3.28M | 9.33M | 9.45M | 12.11M | |
| Other Current Assets | 601.40M | 511.66M | 227.24M | 201.03M | 87.50M | 110.43M |
| Total Current Assets | 7.11B | 7.36B | 5.72B | 4.24B | 2.12B | 1.42B |
| Property, Plant & Equipment | 1.10B | 1.33B | 1.72B | 1.98B | 2.29B | 439.01M |
| Goodwill | 17.45M | 17.45M | 17.45M | 17.45M | 17.45M | 17.45M |
| Other Intangible Assets | 3.74M | 4.71M | 6.37M | 4.25M | 5.54M | 3.82M |
| Long-Term Accounts Receivable | 31.75M | 33.93M | 54.45M | 58.29M | 62.62M | |
| Long-Term Deferred Tax Assets | 244.54M | 253.60M | 230.88M | 144.95M | 112.53M | 122.71M |
| Long-Term Deferred Charges | 139.11M | 134.27M | 119.41M | 98.22M | 67.27M | 97.53M |
| Other Long-Term Assets | 71.63M | 36.37M | 38.47M | 47.44M | 83.99M | 85.79M |
| Total Assets | 8.68B | 9.17B | 7.88B | 6.59B | 4.76B | 2.25B |
| Accounts Payable | 1.03B | 824.88M | 695.88M | 595.65M | 187.91M | 163.05M |
| Accrued Expenses | 1.39B | 487.31M | 362.38M | 322.75M | 139.06M | 117.36M |
| Short-Term Debt | 235.00M | 250.00M | 60.00M | 70.00M | 142.83M | 64.81M |
| Current Portion of Long-Term Debt | 29.13M | 1.00M | ||||
| Current Portion of Leases | 260.81M | 230.20M | 291.00M | 295.72M | 319.60M | |
| Current Income Taxes Payable | 268.52M | 312.30M | 221.65M | 136.20M | 31.34M | 46.18M |
| Current Unearned Revenue | 490.88M | 701.15M | 453.99M | 406.07M | 203.00M | 233.74M |
| Other Current Liabilities | 919.64M | 745.32M | 551.46M | 294.76M | 425.26M | |
| Total Current Liabilities | 3.68B | 3.73B | 2.83B | 2.38B | 1.35B | 1.05B |
| Long-Term Debt | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M | 43.63M |
| Long-Term Leases | 797.01M | 1.04B | 1.38B | 1.58B | 1.81B | |
| Long-Term Unearned Revenue | 541.91M | 526.44M | 475.33M | 369.45M | 277.84M | 267.91M |
| Other Long-Term Liabilities | 303.07M | 290.06M | 245.57M | 194.45M | 141.76M | 317.61M |
| Total Liabilities | 5.32B | 5.59B | 4.93B | 4.53B | 3.57B | 1.68B |
| Common Stock | 294.00K | 302.00K | 301.00K | 300.00K | 285.00K | 274.00K |
| Additional Paid-In Capital | 758.40M | 1.76B | 1.61B | 1.56B | 1.29B | 764.50M |
| Retained Earnings | 2.71B | 2.20B | 1.35B | 507.23M | -78.30M | -176.40M |
| Treasury Stock | -40.83M | -326.40M | ||||
| Comprehensive Income & Other | -59.82M | -34.31M | 1.39M | 4.77M | -10.87M | -8.95M |
| Total Common Equity | 3.37B | 3.59B | 2.96B | 2.07B | 1.20B | 579.43M |
| Minority Interest | -12.34M | -12.68M | -10.34M | -7.98M | -9.90M | -14.81M |
| Shareholders' Equity | 3.36B | 3.58B | 2.95B | 2.06B | 1.19B | 564.62M |
| Total Liabilities & Equity | 8.68B | 9.17B | 7.88B | 6.59B | 4.76B | 2.25B |
| Total Debt | 1.29B | 1.52B | 1.73B | 1.95B | 2.30B | 109.44M |
| Net Cash (Debt) | 4.43B | 4.36B | 3.16B | 1.64B | -549.82M | 932.05M |
| Net Cash Per Share | 31.92 | 31.17 | 22.73 | 11.89 | -4.32 | 8.65 |
| Filing Date Shares Outstanding | 135.49M | 137.46M | 137.60M | 137.60M | 131.12M | 125.66M |
| Total Common Shares Outstanding | 135.49M | 137.46M | 137.60M | 137.60M | 131.12M | 125.66M |
| Working Capital | 3.43B | 3.63B | 2.89B | 1.86B | 777.04M | 364.83M |
| Book Value Per Share | 24.89 | 26.14 | 21.48 | 15.03 | 9.13 | 4.61 |
| Tangible Book Value | 3.35B | 3.57B | 2.93B | 2.05B | 1.17B | 558.16M |
| Tangible Book Value Per Share | 24.74 | 25.98 | 21.31 | 14.87 | 8.96 | 4.44 |
| Machinery | 339.00M | 352.18M | 421.21M | 420.00M | 407.26M | |
| Leasehold Improvements | 322.49M | 365.33M | 412.41M | 443.69M | 452.03M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.97B | 1.62B | 1.28B | 737.14M | 98.10M | 145.05M |
| Depreciation & Amortization | 57.20M | 54.11M | 65.23M | 85.02M | 88.56M | 92.61M |
| Other Amortization | 1.30M | |||||
| Loss (Gain) From Sale of Assets | 3.60M | 3.60M | 578.00K | 2.02M | 2.21M | |
| Asset Writedown & Restructuring Costs | 55.44M | 55.44M | 54.66M | 60.52M | ||
| Loss (Gain) From Sale of Investments | -44.87M | -44.87M | -48.94M | -34.52M | -8.46M | -8.74M |
| Stock-Based Compensation | 131.47M | 131.47M | 32.79M | 163.98M | 163.19M | |
| Provision & Write-off of Bad Debts | 7.06M | 7.06M | 30.81M | 40.75M | 4.74M | 2.89M |
| Other Operating Activities | 283.62M | 271.77M | 165.98M | 208.01M | 281.73M | -12.85M |
| Change in Accounts Receivable | -159.26M | -159.26M | -29.70M | -42.71M | -37.48M | 40.42M |
| Change in Inventory | -185.55M | -185.55M | -99.11M | -85.47M | -4.18M | -30.16M |
| Change in Accounts Payable | 128.21M | 128.21M | 99.24M | 409.64M | 23.62M | 75.51M |
| Change in Unearned Revenue | 298.27M | 298.27M | 153.80M | 294.68M | -20.81M | 85.78M |
| Change in Income Taxes | 90.65M | 90.65M | 85.45M | 104.86M | -14.84M | -15.33M |
| Change in Other Net Operating Assets | -279.07M | -279.07M | -59.60M | 46.19M | -292.53M | 39.19M |
| Operating Cash Flow | 2.35B | 1.99B | 1.73B | 1.99B | 283.68M | 417.88M |
| Capital Expenditures | -47.81M | -85.78M | -56.24M | -41.72M | -36.42M | -63.97M |
| Sale of Property, Plant & Equipment | 255.00K | 5.00M | 2.95M | 670.00K | ||
| Divestitures | 780.00K | 780.00K | ||||
| Sale (Purchase) of Intangibles | -1.82M | -254.00K | -1.94M | -2.81M | -2.00M | |
| Investment in Securities | 741.87M | -1.25B | -465.32M | -559.47M | -153.00M | 8.74M |
| Investing Cash Flow | 693.28M | -1.33B | -520.55M | -600.52M | -192.22M | -42.23M |
| Long-Term Debt Issued | 255.00M | 60.00M | 40.00M | 199.00M | 218.43M | |
| Long-Term Debt Repaid | -65.00M | -70.00M | -141.96M | -134.48M | -230.43M | |
| Net Debt Issued (Repaid) | 170.00M | 190.00M | -10.00M | -101.96M | 64.52M | -12.00M |
| Issuance of Common Stock | 10.91M | 18.88M | 19.45M | 105.62M | 400.07M | |
| Repurchase of Common Stock | -1.08B | -329.90M | -111.26M | |||
| Common Dividends Paid | -845.84M | -772.00M | -436.05M | -150.58M | -20.64M | |
| Other Financing Activities | -37.25M | -31.87M | -8.28M | -17.18M | ||
| Financing Cash Flow | -1.79B | -924.89M | -426.60M | -146.92M | 456.31M | -161.08M |
| Foreign Exchange Rate Adjustments | -29.26M | -35.32M | -922.00K | 10.41M | 2.82M | -8.18M |
| Net Cash Flow | 1.23B | -299.46M | 777.88M | 1.25B | 550.58M | 206.39M |
| Free Cash Flow | 2.30B | 1.91B | 1.67B | 1.95B | 247.25M | 353.91M |
| Free Cash Flow Margin | 19.66% | 19.48% | 23.04% | 41.73% | 10.93% | 16.48% |
| Free Cash Flow Per Share | 16.61 | 13.64 | 12.01 | 14.08 | 1.94 | 3.29 |
| Levered Free Cash Flow | 2.03B | 1.69B | 1.38B | 1.70B | 181.43M | 287.81M |
| Unlevered Free Cash Flow | 2.04B | 1.69B | 1.38B | 1.71B | 185.49M | 292.77M |
| Cash Interest Paid | 4.65M | 5.70M | ||||
| Cash Income Tax Paid | 673.71M | 673.71M | 446.51M | 170.24M | 82.78M | 88.95M |
| Change in Working Capital | -106.75M | -106.75M | 150.07M | 727.20M | -346.21M | 195.41M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.47B | 5.42B | 3.70B | 2.39B | 2.35B | |
| Enterprise Value | 3.82B | 4.84B | 3.33B | 2.25B | 2.53B | |
| Last Close Price | 32.52 | 38.81 | 25.96 | 16.41 | 16.92 | |
| PE Ratio | 15.57 | 23.39 | 21.18 | 22.98 | 165.22 | |
| Forward PE | 12.62 | 18.95 | 18.14 | 15.25 | 33.81 | |
| PS Ratio | 2.59 | 3.87 | 3.73 | 3.63 | 7.16 | |
| PB Ratio | 8.87 | 10.59 | 9.17 | 8.22 | 13.65 | |
| P/TBV Ratio | 9.06 | 10.62 | 9.21 | 8.28 | 13.80 | |
| P/FCF Ratio | 12.90 | 19.88 | 16.17 | 8.70 | 65.55 | |
| P/OCF Ratio | 12.64 | 19.03 | 15.65 | 8.52 | 57.13 | |
| PEG Ratio | 0.71 | 0.81 | 0.52 | 0.11 | 0.38 | |
| EV/Sales Ratio | 2.21 | 3.46 | 3.35 | 3.42 | 7.71 | |
| EV/EBITDA Ratio | 8.93 | 14.03 | 13.96 | 14.93 | 68.82 | |
| EV/EBIT Ratio | 9.11 | 14.35 | 14.50 | 16.21 | 105.77 | |
| EV/FCF Ratio | 11.02 | 17.77 | 14.56 | 8.20 | 70.57 | |
| Debt / Equity Ratio | 0.39 | 0.43 | 0.59 | 0.95 | 1.94 | 0.19 |
| Debt / EBITDA Ratio | 0.41 | 0.57 | 0.84 | 1.37 | 3.79 | 0.38 |
| Debt / FCF Ratio | 0.56 | 0.80 | 1.04 | 1.00 | 9.30 | 0.31 |
| Net Debt / Equity Ratio | -1.32 | -1.22 | -1.07 | -0.80 | 0.46 | -1.65 |
| Net Debt / EBITDA Ratio | -1.52 | -1.80 | -1.81 | -1.54 | 2.17 | -3.23 |
| Net Debt / FCF Ratio | -1.92 | -2.28 | -1.89 | -0.84 | 2.22 | -2.63 |
| Asset Turnover | 1.38 | 1.15 | 1.00 | 0.82 | 0.65 | 1.01 |
| Inventory Turnover | 40.49 | 18.24 | 22.83 | 26.65 | 23.02 | 24.65 |
| Quick Ratio | 1.72 | 1.74 | 1.86 | 1.64 | 1.46 | 1.16 |
| Current Ratio | 1.93 | 1.97 | 2.02 | 1.78 | 1.58 | 1.35 |
| Return on Equity (ROE) | 59.09% | 49.68% | 50.86% | 45.52% | 10.97% | 24.71% |
| Return on Assets (ROA) | 20.89% | 17.32% | 14.49% | 10.84% | 2.94% | 5.79% |
| Return on Invested Capital (ROIC) | 68.82% | 5.05% | ||||
| Return on Capital Employed (ROCE) | 56.90% | 43.40% | 33.20% | 23.40% | 4.80% | 16.40% |
| Earnings Yield | 6.42% | 4.28% | 4.72% | 4.35% | 0.60% | |
| FCF Yield | 7.75% | 5.03% | 6.18% | 11.49% | 1.52% | |
| Dividend Yield | 2.40% | 1.98% | 1.67% | 0.86% | ||
| Payout Ratio | 43.09% | 47.62% | 34.19% | 20.43% | 14.23% | |
| Buyback Yield / Dilution | 0.65% | -0.50% | -0.58% | -8.71% | -18.08% | -88.33% |
| Total Shareholder Return | 3.05% | 1.48% | 1.09% | -7.84% | -18.08% | -88.33% |