Chagee Holdings Ltd. is a US-listed company in the restaurants industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Fair value per share
~$16
Valuation models combined (3)
Base case. Range ~$14–$17. Weighted average of 3 models (price-to-earnings vs peers, justified price-to-book, revenue-to-maturity model), the price-to-earnings vs peers counting double.
Price vs value
Undervalued
The price is below our entire value range; our base value is 24% above it.
Price used: $12.66, November 2, 2026
Chagee Holdings Ltd. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds28 adding, 22 cuttingOf 16 active managers that changed their stake, 8 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Chagee Holdings Ltd.'s trailing-twelve-month revenue grew 4.2% year on year, with a free-cash-flow margin of 9.5%. Where it stands out: net margin of 9.1% ranks 9 of 44 restaurants companies we cover. Where it lags: change in growth rate of -158.8pp ranks 44 of 44 restaurants companies we cover.
Current signal Revenue growth decelerating: TTM revenue growth slowed to 4.2% (-158.8pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Priced below our value. The share price of $12.66 is 24% below our value per share of $16.
- Net cash. Cash exceeds long-term debt by $1.1bn.
Things to watch
- Growth slowing. The growth rate is 158.8 points lower than a quarter earlier.
- Margins narrowing. Operating margin is down 12.8 points on a year ago.
- Share dilution. Diluted shares rose 63.7% in a year.
- Below peers: stock pay as % of revenue. Stock pay as % of revenue of 5.6% ranks 38 of 40 restaurants companies we cover (median 0.8%).
- Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
Latest results
- Earnings per share
- $2.54 against an average estimate of $2.30: beat by 10.5%
- Next report
- November 27, 2026
Price chart
- 1 day+5.1%
- 1 week+2.0%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $1.8B
- Operating margin
- 10.4%
- Net margin
- 9.1%
- EPS (TTM, diluted)
- $0.99
Growth
- Revenue growth
- +4.2%
- Change in growth rate
- −158.8 pts
- Share count change
- +63.7%
Cash
- Free cash flow (TTM)
- $171M
- FCF margin
- 9.5%
- Stock pay % of revenue
- 5.6%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for CHA from the sources we follow. See filings →
Valuation models
We value Chagee Holdings Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.85 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$16 ~$15–$28 | Primary model, counts double |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$14 ~$12–$17 | Included |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$17 ~$15–$19 | Included |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: earnings are positive: price-to-earnings is the better measure |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$16 ~$14–$17 | 3 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Chagee Holdings Ltd. with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 27, 2026, before the open.
Analysts' consensus
No analyst estimates are published for Chagee Holdings Ltd.: too few analysts cover it.
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $2.30 | $2.54 | +10.5% |
| Mar 2026 | $2.03 | $2.65 | +30.5% |
| Dec 2025 | $1.54 | $0.49 | −68.1% |
| Sept 2025 | $2.94 | $2.57 | −12.5% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 6.6% of tradable shares
- Days to cover
- 2.03 at average volume
- Short interest, 1 month
- −7% to October 15, 2026
- Held by institutions
- 7% of shares
- Held by insiders
- 21.5% of shares
- Employees
- 3,812 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Chagee Holdings Ltd. in five measures
Fundamentals
Where the money goes
Each dollar Chagee Holdings took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.
| Revenue | $1.8B | |
|---|---|---|
| Other income | $35.6M | 2.0% of revenue |
| Research and development | $37.4M | 2.1% of revenue |
| Selling, general and admin | $531M | 29.5% of revenue |
| Other operating costs | $1B | 57.9% of revenue |
| Operating income | $187M | 10.4% of revenue |
| Income tax | $60.1M | 3.3% of revenue |
| Net income | $163M | 9.1% of revenue |
Financial statements
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 656 | 1,724 | 1,796 |
| EBITDA | 153 | 410 | 208 |
| Operating income | 152 | 401 | 187 |
| Net income | 113 | 350 | 163 |
| Diluted EPS | $0.70 | $1.98 | $0.86 |
| Growth (year on year) | |||
| Revenue | — | +162.9% | +4.2% |
| EBITDA | — | +167.3% | −49.3% |
| Operating income | — | +164.3% | −53.3% |
| Net income | — | +209.0% | −53.4% |
| Diluted EPS | — | +181.6% | −56.6% |
| Margins | |||
| EBITDA margin | 23.4% | 23.8% | 11.6% |
| Operating margin | 23.1% | 23.3% | 10.4% |
| Net margin | 17.3% | 20.3% | 9.1% |
| Free-cash-flow margin | 41.0% | 21.1% | 9.5% |
| Cash flow | |||
| Cash from operations | 273 | 394 | 229 |
| Capital spending | 5 | 31 | 58 |
| Free cash flow | 269 | 363 | 171 |
| Stock-based pay | 1 | 0 | 101 |
| Free cash flow after stock pay | 267 | 363 | 70 |
| Balance sheet | |||
| Cash | 327 | 651 | 1,088 |
| Total debt | 0 | 0 | 0 |
| Net debt (negative = net cash) | −327 | −651 | −1,088 |
| Diluted shares | 153m | 101m | 165m |
| Returned to shareholders | |||
| Dividends | — | — | 172 |
| Buybacks | — | 29 | — |
| Total returned | — | 29 | 172 |
Financial health
- Short-term assets cover short-term liabilities $1.3bn of assets due within a year against $408m of liabilities due within a year.
- Short-term assets cover long-term liabilities $1.3bn short-term assets against $148m of longer-dated liabilities.
- More cash than debt Cash or debt not separately reported. Not assessable.
- Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
- 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 Cash flow or debt not reported. Not assessable.
- Operating profit covers interest at least five times over Interest not separately reported. Not assessable.
Dividends, buybacks and capital spending
- Buybacks (TTM)
- $29.2M
- Dividends (TTM)
- $172M
- Diluted share count
- +63.7%
- year over year
- Dividend payout ratio
- 105%
- of net income paid out
- R&D spending
- 2.1%
- of revenue
- Days sales outstanding
- 4 days
- receivables vs revenue
Competitors: side by side with peers
| Last 12 months unless stated | CHA | BROS | PZZA | SHAK | PLAY | WEN | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $1.8bn | $1.9bn | $2.0bn | $1.6bn | $2.1bn | $2.2bn | $1.4bn |
| Revenue growth, last 12 months | 4.2% | 29.6% | −5.6% | 17.3% | −1.5% | −1.0% | 4.6% |
| Revenue growth, 3-year average | — | 30.5% | −1.8% | 16.1% | −1.6% | 0.7% | 5.1% |
| Revenue growth, latest quarter | — | 32.5% | −8.8% | 17.2% | −2.4% | 1.7% | 4.5% |
| Gross margin | — | 25.1% | — | — | 85.4% | 63.0% | 68.6% |
| Operating margin | 10.4% | 9.6% | 4.3% | 3.6% | 1.7% | 13.6% | 4.9% |
| Operating margin, 3-year average | — | 8.8% | 5.9% | 2.1% | 7.4% | 15.8% | 6.9% |
| Net margin | 9.1% | 4.9% | 1.4% | 2.6% | −4.3% | 5.7% | 2.5% |
| Cash from operations / revenue | 12.7% | 19.4% | 4.8% | 12.3% | 15.5% | 16.3% | 11.9% |
| Free-cash-flow margin | 9.5% | 5.0% | 1.7% | −0.8% | −0.8% | 12.0% | 3.4% |
| Free-cash-flow margin, 3-year average | — | 1.8% | 2.6% | 1.4% | −5.9% | 11.8% | 2.8% |
| Stock pay / revenue | 5.6% | 1.1% | 0.8% | 1.2% | 0.6% | 0.5% | 0.8% |
| Change in share count | 63.7% | 7.9% | 0.5% | −6.7% | −6.7% | −4.9% | 0.2% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 4.2% | 4.7% | 26 of 44 |
| Change in growth rate Growth | -158.8pp | +0.3pp | 44 of 44 |
| Operating margin Profitability | 10.4% | 5.2% | 14 of 42 |
| Net margin Profitability | 9.1% | 2.6% | 9 of 44 |
| Free-cash-flow margin Cash generation | 9.5% | 3.6% | 13 of 44 |
| Stock pay as % of revenue Cash generation | 5.6% | 0.8% | 38 of 40 |
| Change in share count Balance sheet | 63.7% | 0.3% | 41 of 42 |
| Days sales outstanding Balance sheet | 4 days | 6 days | 9 of 25 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Who owns it
Funds buying and selling- Reported value
- $159M
- Institutions reporting
- 47
- Shares held vs prior quarter
- ▼ 0.3%
- Positions opened / closed
- 16 / 8
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Fosun International Ltd | $54.5M | 5.8M | 34.3% | ▼ 21.1% |
| Marshall Wace, LLP | $21.8M | 1.8M | 13.7% | ▼ 4.2% |
| Blackrock, Inc. | $13.5M | 1.1M | 8.5% | ▲ 289.1% |
| Morgan Stanley | $11.7M | 975K | 7.4% | ▼ 7.1% |
| Citadel Advisors LLC | $9.7M | 807K | 6.1% | ▲ 710.3% |
| Point72 Asset Management, L.P. | $8.8M | 735K | 5.6% | ▲ 4182.4% |
| Athos Capital Ltd | $7.6M | 635K | 4.8% | 0.0% |
| Millennium Management LLC | $6.2M | 519K | 3.9% | ▲ 1204.2% |
| State Street Corp | $5.4M | 446K | 3.4% | New |
| Empowered Funds, LLC | $3.3M | 271K | 2.1% | ▲ 108.4% |
| UBS Group AG | $3.2M | 266K | 2.0% | ▼ 56.6% |
| Goldman Sachs Group Inc | $2M | 166K | 1.3% | ▲ 66.3% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Chagee Holdings Ltd.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Chagee Holdings Ltd. in brief
- What does Chagee Holdings Ltd. do?
- Chagee Holdings Ltd. is a US-listed company in the restaurants industry. Its financial year ends in December.
- What is Chagee Holdings Ltd.'s stock ticker?
- Chagee Holdings Ltd. trades under the ticker CHA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Chagee Holdings Ltd.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Chagee Holdings Ltd. reported revenue of $1.8B, 4.2% higher than a year earlier, according to its SEC filings.
- What is Chagee Holdings Ltd.'s free cash flow?
- Chagee Holdings Ltd.'s free-cash-flow margin is 9.5% of revenue over the trailing twelve months, ranking 13 of the 44 restaurants companies we cover.
- Who are Chagee Holdings Ltd.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Fosun International Ltd, Marshall Wace, LLP and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Is Chagee Holdings Ltd. buying back stock, and does it pay a dividend?
- Chagee Holdings Ltd. spent $29.2M on share repurchases over the trailing twelve months, and its diluted share count still rose 63.7% over the year.
- Does Chagee Holdings Ltd. pay a dividend?
- Yes: Chagee Holdings Ltd. paid $172M in dividends over the trailing twelve months and a payout ratio of 105.3%.
- Who are Chagee Holdings Ltd.'s competitors?
- In our Restaurants peer group, the companies closest to Chagee Holdings Ltd. are Dutch Bros Inc., Papa Johns International Inc, Shake Shack Inc., Dave & Buster's Entertainment, Inc. and Wendy's Co. The side-by-side comparison below sets their revenue, margins and growth against Chagee Holdings Ltd.'s.
- When is Chagee Holdings Ltd.'s next earnings date?
- Around November 27, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Chagee Holdings Ltd. announces its own schedule.
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