TH International (THCH) Operating Expenses (2021 - 2026)
TH International (THCH) posted Operating Expenses of $48.86 million for the quarter ended Jun 30, 2026, down 11.8% from $55.39 million a year earlier but up 2.4% from the prior quarter.
Powered by 
Analysis
TH International (THCH) Operating Expenses (2021 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at TH International was $217.14 million, down 5.4% year-over-year; for the year ended Dec 31, 2025, it was $233.6 million, down 2.0% from the prior year.
- Annual Operating Expenses shows a five-year compound annual growth rate of 35.5% (years ended Dec 2020 to Dec 2025).
- In prior years, TH International's Operating Expenses was $238.41 million in the year ended Dec 31, 2024 (-25.7%), $320.7 million in the year ended Dec 31, 2023 (+38.9%), $230.85 million in the year ended Dec 31, 2022 (+46.3%) and $157.8 million in the year ended Dec 31, 2021 (+208.1%).
- Quarterly Operating Expenses has run from a low of $45.62 million in the quarter ended Sep 30, 2021 to a high of $87.8 million in the quarter ended Dec 31, 2023 over five years.
- On a year-over-year basis, Operating Expenses has declined in each of the last three quarters, with an average decline of 13.0% over the last eight quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was the quarter ended Jun 30, 2023, with growth of 56.3%; the weakest was the quarter ended Dec 31, 2024, with a decline of 29.8%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $47.7 million (quarter ended Mar 31, 2026), $61.07 million (quarter ended Dec 31, 2025) and $59.51 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 198.08 Bn | 192.90 Bn | 6.42 Bn | 3.76 Bn |
| 2 | Starbucks | 123.34 Bn | 110.96 Bn | - | 8.42 Bn |
| 3 | Chipotle Mexican Grill | 45.28 Bn | 41.78 Bn | - | 2.84 Bn |
| 4 | Yum Brands | 43.42 Bn | 40.31 Bn | 1.47 Bn | 1.51 Bn |
| 5 | Restaurant Brands International | 26.75 Bn | 22.54 Bn | 1.40 Bn | 1.83 Bn |
| 6 | Darden Restaurants | 25.71 Bn | 24.80 Bn | 1.68 Bn | 2.88 Bn |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | 1.83 Bn |
| 8 | Yum China Holdings | 17.17 Bn | 10.82 Bn | 537.00 Mn | 2.79 Bn |
| 9 | Texas Roadhouse | 12.34 Bn | 11.68 Bn | - | 1.54 Bn |
| 10 | TH International | 40.56 Mn | 24.08 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 48.68 Mn |
| Mar 31, 2026 | 47.50 Mn |
| Dec 31, 2025 | 60.21 Mn |
| Sep 30, 2025 | 59.19 Mn |
| Jun 30, 2025 | 54.85 Mn |
| Mar 31, 2025 | 53.11 Mn |
| Dec 31, 2024 | 62.62 Mn |
| Sep 30, 2024 | 57.97 Mn |
| Jun 30, 2024 | 58.23 Mn |
| Mar 31, 2024 | 63.41 Mn |
| Dec 31, 2023 | 82.82 Mn |
| Sep 30, 2023 | 80.40 Mn |
| Jun 30, 2023 | 83.26 Mn |
| Mar 31, 2023 | 68.25 Mn |
| Dec 31, 2022 | 60.86 Mn |
| Sep 30, 2022 | 66.70 Mn |
| Jun 30, 2022 | 52.11 Mn |
| Mar 31, 2022 | 56.65 Mn |
| Dec 31, 2021 | 55.26 Mn |
| Sep 30, 2021 | 45.62 Mn |
API Access
TH International Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=THCH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "THCH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=THCH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();