Haidilao International Holding Ltd

Haidilao maintains a balanced capital structure with a debt-to-equity ratio of 0.59 and a current ratio of 1.33, indicating adequate short-term liquidity despite a medium liquidity risk rating. The company holds total assets of 22.09 billion CNY against total liabilities of 12.08 billion CNY, resulting in total equity of 10.01 billion CNY. Long-term debt stands at 5.93 billion CNY, and while operating cash flow is robust at 5.66 billion CNY, free cash flow is compressed to 342.27 million CNY due to capital expenditures of 1.75 billion CNY. The key risk flag notes that net cash is negative after subtracting total debt, highlighting reliance on debt financing for operations and expansion.

Profitability metrics demonstrate strong operational efficiency, with a return on equity of 40.44% and a return on assets of 18.33%. The company generated net income of 4.05 billion CNY on revenue of 43.23 billion CNY, yielding a net margin of approximately 9.4%. Operating income was 6.05 billion CNY, reflecting an operating margin of roughly 14.0%. The valuation snapshot shows a price-to-earnings ratio of 15.28 and an EV/EBITDA of 11.21, suggesting the market prices the stock at a moderate multiple relative to its earnings power. The price-to-book ratio of 6.18 indicates investors are paying a premium for the company's intangible assets and brand value.

Revenue concentration and segment details are not explicitly provided in the available data, preventing a detailed analysis of geographic or segment-specific exposure. The company's primary activity is identified as unclassified within the broader Hotels, Restaurants & Leisure industry, implying a diversified restaurant portfolio without disclosed dominant sub-segments. Without specific segment data, the revenue mix is assumed to be driven by the core hotpot restaurant operations globally.

Growth trajectory analysis is limited by the absence of historical period data in the input, preventing a year-over-year or quarter-over-quarter trend assessment. The current financial snapshot provides a single-period view of revenue and profitability, but lacks the multi-year context necessary to evaluate long-term growth rates or cyclicality. Consequently, the narrative cannot quantify recent revenue acceleration or deceleration trends.

Risk assessment highlights medium liquidity risk and low dilution risk, with the primary concern being the negative net cash position after debt subtraction. The company's reliance on debt is evident in the 5.93 billion CNY long-term debt balance, which requires careful management to maintain financial flexibility. The low dilution risk suggests that share count stability is maintained, with basic and diluted shares outstanding both at 5.57 billion. No other key flags or specific risk factors are disclosed in the available data.

Recent events and market sentiment are reflected in analyst estimates, with a mean price target of 17.33 CNY and a median target of 17.53 CNY, implying significant upside from the current market price of 11.10 CNY. The mean recommendation of 2.07 indicates a general buy consensus, supported by 6 strong-buy and 15 buy ratings versus 8 hold ratings. The high price target of 20.92 CNY and low target of 12.70 CNY show a wide range of analyst expectations, but the overall sentiment remains positive. No specific filing, news, or transcript observations are provided to detail recent corporate actions or strategic announcements.

Analysts project 37.4% upside to a mean price target of 17.33, reflecting strong consensus buy ratings.

Free cash flow surged 380.8% year-over-year to 342 million CNY, showing improved cash generation.

Revenue growth slowed to just 1.1% year-over-year, suggesting limited top-line expansion momentum.

The company faces medium liquidity risk, which could constrain financial flexibility during market stress.

Debt-to-equity ratio of 0.59 is higher than the cohort median of 0.40, implying elevated leverage.

Revenue ¥43.23B, +1,1% YoY; Operating income −12,3% YoY.

• ▍Revenue ¥43.23B, +1,1% YoY
• ▍Operating income −12,3% YoY
• ▍Net income −14,0% YoY
• ▍Free cash flow +380,8% YoY
• ▍Net margin 9.4%

Revenue ¥42.75B, +3,1% YoY; Operating income +11,6% YoY.

• ▍Revenue ¥42.75B, +3,1% YoY
• ▍Operating income +11,6% YoY
• ▍Net income +4,7% YoY
• ▍Free cash flow −102,0% YoY
• ▍Net margin 11.0%

Revenue ¥41.45B, +33,5% YoY; Operating income +138,6% YoY.

• ▍Revenue ¥41.45B, +33,5% YoY
• ▍Operating income +138,6% YoY
• ▍Net income +227,3% YoY
• ▍Free cash flow +52,2% YoY
• ▍Net margin 10.9%

Revenue ¥31.04B, −20,6% YoY; Operating income +204,2% YoY.

• ▍Revenue ¥31.04B, −20,6% YoY
• ▍Operating income +204,2% YoY
• ▍Net income +133,0% YoY
• ▍Free cash flow +210,7% YoY
• ▍Net margin 4.4%

Revenue ¥39.10B; Operating income -¥2.49B.

• ▍Revenue ¥39.10B
• ▍Operating income -¥2.49B
• ▍Net margin -10.6%