企業概要
H World Group Limited is a prominent entity within the lodging sector, developing and operating a diverse portfolio of leased, owned, franchised, and managed hotels across the People's Republic of China. The company utilizes its own brands, including HanTing Hotel, Ni Hao Hotel, Hi Inn, Elan Hotel, Zleep Hotels, Ibis Hotel, JI Hotel, Orange Hotel, Starway Hotel, and Ibis Style, to serve the consumer cyclical market. As of the latest data, the company commands a market capitalization of $16.52B and generates annual revenue of $25.31B, though specific employee count data is not publicly disclosed in the provided records. These valuation and revenue figures indicate that the firm operates at a significant scale, positioning it as a major player capable of influencing supply dynamics within the Chinese hospitality industry.
財務健全性
The company reported a revenue of $25.31B for the trailing twelve months, with a corresponding net income of $5.08B and an EBITDA of $8.01B. The substantial gap between the $25.31B revenue and the $5.08B net income reveals a gross margin of 44.1%, which reflects the company's ability to retain a significant portion of sales revenue after covering the direct costs of hotel operations. Further analysis of the income statement shows an operating margin of 29.1% and a profit margin of 20.1%, indicating efficient cost management relative to sales volume. The firm maintains robust financial flexibility with free cash flow of $6.16B, a figure that suggests ample capacity to fund capital expenditures or return capital to shareholders without relying on external financing. On the balance sheet, the company holds $15.28B in cash against $36.07B in total debt, resulting in a debt-to-equity ratio of 278.35. This high leverage ratio indicates a capital structure that is heavily reliant on debt financing rather than equity buffers. Short-term liquidity is assessed via a current ratio of 0.91, which suggests that current assets are slightly lower than current liabilities, potentially constraining immediate liquidity management strategies. Return metrics further illustrate management effectiveness, with a return on equity of 40.5% and a return on assets of 6.7%, demonstrating strong profitability relative to shareholder investment and asset base respectively.
バリュエーション評価
Valuation metrics for H World Group Limited show a trailing P/E ratio of 23.05 and a forward P/E of 17.35. The difference between the trailing and forward P/E ratios implies that the market expects earnings growth that will significantly compress the valuation multiple in the coming period. The price-to-book ratio stands at 8.87, indicating that the market values the company at nearly nine times its book value, which suggests a premium assigned to its brand assets and intangible growth prospects. Alternative valuation measures include a price-to-sales ratio of 0.65 and an EV/EBITDA of 23.19, figures that provide context for the stock's price relative to its sales generation and operational cash earnings power. Price action data reveals a 52-week high of $56.64 and a 52-week low of $30.20, placing the current trading environment within a specific historical range defined by these extremes. The stock exhibits a beta of 0.15, which indicates that its price volatility is significantly lower than that of the broader market, suggesting a defensive characteristic often associated with mature utility-like sectors rather than high-growth technology firms.
Growth & Income
Growth analysis highlights a revenue growth rate of 8.3% year-over-year, contrasted with an earnings growth rate of 2226.5% year-over-year. The disparity between these two figures indicates that earnings are growing at a pace far exceeding revenue, a phenomenon often driven by margin expansion or one-time gains rather than top-line volume expansion. As a dividend payer, the company offers a dividend yield of 3.9% with a payout ratio of 80.1%, which must be evaluated against the high earnings growth rate to determine the sustainability of the dividend stream over time. The overall profile combines steady top-line expansion in the lodging sector with exceptional earnings performance and a substantial dividend yield, creating a unique income and growth dynamic for the asset.