TH International (THCH) Operating Margin (2021 - 2026)
TH International's (THCH) quarterly Operating Margin came in at 28.15% in Q1 2026, up 21.0% year-on-year from 23.27% in Q1 2025, and up 26.79% on a QoQ basis from 38.45% in Q4 2025.
TH International (THCH) Operating Margin (2021 - 2026) Analysis & Trends
TH International (THCH) has 6 years of Operating Margin data on file, last reported at 28.15% in Q1 2026.
- On a quarterly basis, Operating Margin rose 21.0% year-over-year to 28.15% in Q1 2026; TTM through Mar 2026 was 24.03%, a 108.0% decrease from a year earlier, with the FY2025 full-year figure at 24.11%, up 98.0% from the prior year.
- Operating Margin for Q1 2026 stood at 28.15%, up from 38.45% in the prior quarter.
- Over the last five years, Operating Margin for THCH reached as high as 13.69% in Q2 2025 and fell as low as 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.
- Year by year, Operating Margin stood at 43.57% in 2022, then plunged by 36 bps to 59.35% in 2023, then jumped by 41 bps to 35.23% in 2024, then dropped by 9 bps to 38.45% in 2025, then rose by 27 bps to 28.15% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 28.15% in Q1 2026, 38.45% in Q4 2025, and 18.34% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 117.61 Bn | 115.91 Bn | 6.32 Bn | 8.69% |
| 2 | Chipotle Mexican Grill | 41.20 Bn | 40.33 Bn | 2.61 Bn | 12.86% |
| 3 | Yum Brands | 40.68 Bn | 39.99 Bn | 1.38 Bn | 31.28% |
| 4 | Restaurant Brands International | 25.13 Bn | 25.66 Bn | 2.14 Bn | 26.77% |
| 5 | Darden Restaurants | 22.23 Bn | 21.99 Bn | 3.68 Bn | 13.90% |
| 6 | Yum China Holdings | 15.22 Bn | 14.47 Bn | 2.31 Bn | 13.67% |
| 7 | Texas Roadhouse | 12.56 Bn | 12.37 Bn | 1.40 Bn | 8.96% |
| 8 | Dominos Pizza | 10.74 Bn | 10.60 Bn | 478.23 Mn | 19.43% |
| 9 | Dutch Bros | 8.14 Bn | 8.10 Bn | 107.48 Mn | 7.39% |
| 10 | TH International | 35.21 Mn | 19.06 Mn | 32.43 Mn | -28.15% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |