TH International (THCH) Operating Margin (2021 - 2026)
TH International (THCH) posted quarterly Operating Margin of 28.15% for Q1 2026, up 21.0% year-over-year from 23.27% in Q1 2025, and up 26.79% quarter-over-quarter from 38.45% in Q4 2025.
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TH International (THCH) Operating Margin (2021 - 2026) Analysis & Trends
TH International (THCH) has reported Operating Margin for 6 consecutive years, with 28.15% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin rose 21.0% year-over-year to 28.15%; the TTM figure through Mar 2026 stood at 24.03% (down 108.0% YoY), while the FY2025 annual figure was 24.11%, up 98.0% from the prior year.
- Operating Margin rose to 28.15% in Q1 2026 per THCH's latest filing, from 38.45% in the prior quarter.
- Across five years, Operating Margin topped out at 13.69% in Q2 2025 and bottomed at 91.76% in Q2 2022.
- Historically, Operating Margin has averaged 38.4% across 5 years, with a median of 37.31% in 2024.
- On a YoY basis, Operating Margin climbed as much as 4830 bps in 2023 and fell as far as 1578 bps in 2023.
- TH International's Operating Margin stood at 43.57% in 2022, then plunged by 36 bps to 59.35% in 2023, then surged by 41 bps to 35.23% in 2024, then decreased by 9 bps to 38.45% in 2025, then grew by 27 bps to 28.15% in 2026.
- Business Quant data shows THCH's Operating Margin at 28.15% in Q1 2026, 38.45% in Q4 2025, and 18.34% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 181.46 Bn | 180.64 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 119.15 Bn | 115.53 Bn | 6.49 Bn | 10.52% |
| 3 | Chipotle Mexican Grill | 47.22 Bn | 46.55 Bn | 2.35 Bn | 15.70% |
| 4 | Yum Brands | 41.34 Bn | 40.66 Bn | 1.47 Bn | 30.20% |
| 5 | Restaurant Brands International | 27.92 Bn | 26.86 Bn | 1.89 Bn | 28.41% |
| 6 | Darden Restaurants | 25.01 Bn | 24.79 Bn | 3.68 Bn | 13.90% |
| 7 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 28.41% |
| 8 | Yum China Holdings | 15.19 Bn | 13.80 Bn | 2.22 Bn | 11.09% |
| 9 | Texas Roadhouse | 12.42 Bn | 12.22 Bn | 1.44 Bn | 8.50% |
| 10 | TH International | 43.90 Mn | 26.12 Mn | 37.59 Mn | -21.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -21.26% |
| Mar 31, 2026 | -28.15% |
| Dec 31, 2025 | -38.45% |
| Sep 30, 2025 | -18.34% |
| Jun 30, 2025 | -13.69% |
| Mar 31, 2025 | -28.36% |
| Dec 31, 2024 | -35.23% |
| Sep 30, 2024 | -15.55% |
| Jun 30, 2024 | -14.92% |
| Mar 31, 2024 | -37.31% |
| Dec 31, 2023 | -59.35% |
| Sep 30, 2023 | -36.59% |
| Jun 30, 2023 | -43.46% |
| Mar 31, 2023 | -38.76% |
| Dec 31, 2022 | -43.57% |
| Sep 30, 2022 | -49.22% |
| Jun 30, 2022 | -91.76% |
| Mar 31, 2022 | -60.05% |
| Dec 31, 2021 | -57.75% |
| Sep 30, 2021 | -62.02% |