TH International (THCH) Operating Margin (2021 - 2026)
TH International (THCH) recorded Operating Margin of -21.26% in the quarter ended Jun 30, 2026, down 7.56 percentage points from -13.69% a year earlier but up 6.90 percentage points from the prior quarter.
TH International (THCH) Operating Margin (2021 - 2026) Analysis & Trends
On a TTM basis, TH International's Operating Margin came in at -26.31% as of Jun 30, 2026, down 3.61 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at -24.11%, up 0.98 percentage points from the prior year.
- Annual Operating Margin has increased for five straight years, with a five-year change of +42.45 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, Operating Margin came in at -25.09% in the year ended Dec 31, 2024 (+19.40 pp), -44.50% in the year ended Dec 31, 2023 (+12.98 pp), -57.48% in the year ended Dec 31, 2022 (+0.72 pp) and -58.20% in the year ended Dec 31, 2021 (+8.36 pp).
- Quarterly Operating Margin has ranged from -91.76% in the quarter ended Jun 30, 2022 to -13.69% in the quarter ended Jun 30, 2025 over the past five years.
- On a year-over-year basis, Operating Margin rose in five of the last eight quarters, with an average year-over-year change of +5.25 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 48.30 percentage points in the quarter ended Jun 30, 2023, against a drop of 15.78 percentage points in the quarter ended Dec 31, 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at -28.15% (quarter ended Mar 31, 2026), -38.45% (quarter ended Dec 31, 2025) and -18.34% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 165.62 Bn | 160.44 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 108.79 Bn | 96.42 Bn | - | 10.52% |
| 3 | Chipotle Mexican Grill | 40.35 Bn | 36.33 Bn | - | 15.70% |
| 4 | Yum Brands | 37.59 Bn | 34.48 Bn | 1.47 Bn | 30.20% |
| 5 | Restaurant Brands International | 24.96 Bn | 22.07 Bn | 1.38 Bn | 28.41% |
| 6 | Darden Restaurants | 22.28 Bn | 21.39 Bn | -113.70 Mn | 13.90% |
| 7 | Restaurant Brands International Limited Partnership | 17.01 Bn | 12.57 Bn | 1.38 Bn | 28.41% |
| 8 | Yum China Holdings | 14.08 Bn | 8.44 Bn | 537.00 Mn | 11.09% |
| 9 | Texas Roadhouse | 10.31 Bn | 9.67 Bn | - | 8.50% |
| 10 | TH International | 43.22 Mn | -30.08 Mn | - | -21.26% |
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% |
TH International Operating Margin 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-margin&ticker=THCH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=THCH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();