Atour Lifestyle Holdings Ltd key statistics and ratios

In fiscal 2025, Atour Lifestyle Holdings Ltd had return on equity of 49.1%, an operating margin of 23.6%, debt equal to 7.0% of equity and a current ratio of 1.97. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Atour Lifestyle Holdings Ltd: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	4.0%	9.1%	7.3%	19.8%	22.4%	23.6%
Net margin	2.7%	6.8%	4.3%	15.8%	17.6%	16.6%
Free-cash-flow margin	0.4%	16.5%	10.9%	41.7%	23.0%	19.5%
Return on equity	—	105.7%	11.0%	44.8%	50.9%	49.1%
Return on assets	—	6.4%	2.8%	12.9%	17.7%	18.9%
Asset turnover	—	0.94	0.65	0.81	1.00	1.14
Current ratio	—	1.35	1.58	1.78	2.02	1.97
Debt to equity	—	18.9%	14.5%	3.5%	2.1%	7.0%
Interest cover (operating income ÷ interest)	42.7x	24.7x	25.4x	184.6x	—	—
Effective tax rate	49.9%	31.5%	46.8%	24.7%	25.9%	31.4%
R&D as % of revenue	2.1%	2.4%	2.9%	1.7%	1.8%	1.8%
Capital spending as % of revenue	7.2%	3.0%	1.6%	0.9%	0.8%	0.9%
Free cash flow ÷ net income	14.1%	244.0%	252.0%	264.1%	130.9%	117.6%
Dividends ÷ net income	—	14.2%	—	20.4%	34.2%	47.6%
Dividends and buybacks ÷ free cash flow	—	37.3%	—	7.7%	26.1%	57.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

6 of 6 checks passed · December 31, 2025

What it owns · $1.3bn

Short-term assets $1.1bnLonger-term assets $259m

What it owes, and who funded it · $1.3bn

Short-term liabilities $533mLonger-term liabilities $266mShareholders' equity $514m

Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $533m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.1bn short-term assets against $266m of longer-dated liabilities.
More cash than debt $472m of cash against $36m of debt.
Debt below 40% of shareholders' equity Debt is 7% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $277m of operating cash flow against $36m of debt.
Operating profit covers interest at least five times over Operating income of $321m against $591,236 of interest.

From Atour Lifestyle Holdings Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Atour Lifestyle Holdings Ltd's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Atour Lifestyle Holdings Ltd.