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Greentree Hospitality Group Ltd. (GHG) stock

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NYSE: GHG NYSE Hotels, Resorts & Cruise Lines

D Fundamentals grade

Greentree Hospitality Group Ltd. is a US-listed company in the hotels, resorts & cruise lines 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

Under review: our cash-flow value ($7.19) was left out of our combined valuation (it is 7.57x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($7.19) was left out of our combined valuation (it is 7.57x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Greentree Hospitality Group 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.

  • Funds3 adding, 4 cuttingOf 2 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Greentree Hospitality Group files

Where Greentree Hospitality stands after its latest Filing

Revenue for the twelve months was $153m, down 18.2% on a year earlier, a smaller fall than the 18.8% decline a quarter earlier. That puts it 25 of 25 for growth among the hotels, resorts & cruise lines companies we cover. Free-cash-flow margin held at 1.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 6 financial-health checks.

Our model value for Greentree Hospitality Group is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Greentree Hospitality Group Ltd.'s trailing-twelve-month revenue fell 18.2% year on year, with a free-cash-flow margin of 1.8%. Where it lags: revenue growth of -18.2% ranks 25 of 25 hotels, resorts & cruise lines companies we cover.

Our discounted-cash-flow model values the business at ~$7.2 per share in the base case (~$5.9–$8.9 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 93.1% while net income grew 51.8%: a 145pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Revenue shrinking. Revenue fell 18.2% over the last 12 months.
  • Margins narrowing. Operating margin is down 6.9 points on a year ago.
  • Gross margin slipping. Gross margin is down 3.9 points on a year ago.
  • Weak cash conversion. Free cash flow was 12% of net income over the last 12 months.
  • Below peers: free-cash-flow margin. Free-cash-flow margin of 1.8% ranks 22 of 24 hotels, resorts & cruise lines companies we cover (median 12.7%).
  • Below peers: operating margin. Operating margin of 5.2% ranks 18 of 22 hotels, resorts & cruise lines companies we cover (median 16.0%).

Latest results

Greentree Hospitality Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.0%
  • 1 week-5.0%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$153M
Operating margin
5.2%
Net margin
15.2%

Growth

Revenue growth
−18.2%
Change in growth rate
+0.6 pts

Cash

Free cash flow (TTM)
$2.8M
FCF margin
1.8%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for GHG from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Greentree Hospitality Group Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($7.19) was left out of our combined valuation (it is 7.57x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Greentree Hospitality Group Ltd.'s free cash flow after stock-based pay ( $28.5M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Greentree Hospitality Group Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$7.2 ~$5.9–$8.9 Left out: out of range vs price (7.42x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$3.8 ~$3.6–$6.9 Left out: far from the other models (more than 3x away from their median)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.1 ~$0.8–$1.6 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$0.7 ~$0.7–$0.8 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Greentree Hospitality Group Ltd. with Hotels, Resorts & Cruise Lines 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.

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

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Greentree Hospitality Group Ltd.: too few analysts cover it.

Positioning

Short interest
0.2%
of tradable shares
Days to cover
0.94
at average volume
Short interest, 1 month
−37%
to October 15, 2026
Held by institutions
10%
of shares
Held by insiders
85.6%
of shares
Employees
2,287
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
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vs 200-day average
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Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Greentree Hospitality Group Ltd. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Greentree Hospitality Group Ltd.
$0 $100M $200M $300M $400M FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY16 Q4: $97.6M Revenue (TTM), FY17 Q4: $110M Revenue (TTM), FY18 Q4: $137.2M Revenue (TTM), FY19 Q4: $158.1M Revenue (TTM), FY20 Q4: $134.8M Revenue (TTM), FY21 Q4: $305.1M Revenue (TTM), FY22 Q4: $218.8M Revenue (TTM), FY23 Q4: $230M Revenue (TTM), FY24 Q4: $186.7M Revenue (TTM), FY25 Q4: $152.7M $152.7M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY16 Q4 $97.6M
FY17 Q4 $110M
FY18 Q4 $137.2M
FY19 Q4 $158.1M
FY20 Q4 $134.8M
FY21 Q4 $305.1M
FY22 Q4 $218.8M
FY23 Q4 $230M
FY24 Q4 $186.7M
FY25 Q4 $152.7M
Revenue growth, TTM YoY Greentree Hospitality Group Ltd.
-50% 0% 50% 100% 150% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY17 Q4: 12.7% Revenue growth, TTM YoY, FY18 Q4: 24.7% Revenue growth, TTM YoY, FY19 Q4: 15.2% Revenue growth, TTM YoY, FY20 Q4: -14.7% Revenue growth, TTM YoY, FY21 Q4: 126.3% Revenue growth, TTM YoY, FY22 Q4: -28.3% Revenue growth, TTM YoY, FY23 Q4: 5.1% Revenue growth, TTM YoY, FY24 Q4: -18.8% Revenue growth, TTM YoY, FY25 Q4: -18.2% -18.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY17 Q4 12.7%
FY18 Q4 24.7%
FY19 Q4 15.2%
FY20 Q4 -14.7%
FY21 Q4 126.3%
FY22 Q4 -28.3%
FY23 Q4 5.1%
FY24 Q4 -18.8%
FY25 Q4 -18.2%
Operating margin (TTM) Greentree Hospitality Group Ltd.
-50% 0% 50% 100% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Operating margin (TTM), FY16 Q4: 48.2% Operating margin (TTM), FY17 Q4: 50.0% Operating margin (TTM), FY18 Q4: 55.8% Operating margin (TTM), FY19 Q4: 46.2% Operating margin (TTM), FY20 Q4: 34.3% Operating margin (TTM), FY21 Q4: 6.6% Operating margin (TTM), FY22 Q4: -33.1% Operating margin (TTM), FY23 Q4: 20.6% Operating margin (TTM), FY24 Q4: 12.1% Operating margin (TTM), FY25 Q4: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY16 Q4 48.2%
FY17 Q4 50.0%
FY18 Q4 55.8%
FY19 Q4 46.2%
FY20 Q4 34.3%
FY21 Q4 6.6%
FY22 Q4 -33.1%
FY23 Q4 20.6%
FY24 Q4 12.1%
FY25 Q4 5.2%
FCF margin (TTM) Greentree Hospitality Group Ltd.
0% 20% 40% 60% 80% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY16 Q4: 67.6% FCF margin (TTM), FY17 Q4: 60.9% FCF margin (TTM), FY18 Q4: 46.0% FCF margin (TTM), FY19 Q4: 27.5% FCF margin (TTM), FY20 Q4: 19.7% FCF margin (TTM), FY21 Q4: 0.9% FCF margin (TTM), FY22 Q4: 14.4% FCF margin (TTM), FY23 Q4: 22.6% FCF margin (TTM), FY24 Q4: 21.9% FCF margin (TTM), FY25 Q4: 1.8% 1.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY16 Q4 67.6%
FY17 Q4 60.9%
FY18 Q4 46.0%
FY19 Q4 27.5%
FY20 Q4 19.7%
FY21 Q4 0.9%
FY22 Q4 14.4%
FY23 Q4 22.6%
FY24 Q4 21.9%
FY25 Q4 1.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 98 110 137 158 135 305 219 230 187 153
Gross profit 61 76 96 109 77 102 60 96 72 53
EBITDA 52 59 80 79 56 39 −57 61 37 19
Operating income 47 55 77 73 46 20 −72 47 23 8
Net income 40 40 56 64 38 14 −63 38 15 23
Diluted EPS — $0.44 $0.57 — — — — — — —
Growth (year on year)
Revenue — +12.7% +24.7% +15.2% −14.7% +126.3% −28.3% +5.1% −18.8% −18.2%
EBITDA — +12.1% +37.0% −1.9% −29.3% −31.0% −247.6% — −39.3% −48.3%
Operating income — +16.9% +39.2% −4.5% −36.7% −56.7% −461.7% — −52.6% −65.0%
Net income — +1.1% +39.1% +13.8% −40.9% −63.7% −560.4% — −59.8% +51.8%
Diluted EPS — — +28.4% — — — — — — —
Margins
Gross margin 62.9% 69.5% 69.7% 69.0% 56.8% 33.3% 27.4% 41.8% 38.8% 34.9%
EBITDA margin 53.7% 53.3% 58.6% 49.9% 41.4% 12.6% −26.0% 26.3% 19.7% 12.4%
Operating margin 48.2% 50.0% 55.8% 46.2% 34.3% 6.6% −33.1% 20.6% 12.1% 5.2%
Net margin 41.1% 36.8% 41.0% 40.5% 28.1% 4.5% −28.9% 16.6% 8.2% 15.2%
Free-cash-flow margin 67.6% 60.9% 46.0% 27.5% 19.7% 0.9% 14.4% 22.6% 21.9% 1.8%
Cash flow
Cash from operations 67 70 84 74 43 59 44 64 52 39
Capital spending 1 2 21 31 16 56 12 12 11 36
Free cash flow 66 67 63 44 27 3 31 52 41 3
Stock-based pay — 6 2 4 0 0 −0 0 — —
Free cash flow after stock pay — 61 61 40 27 2 31 52 — —
Balance sheet
Cash 157 25 184 46 94 52 101 108 204 236
Total debt 0 0 9 9 23 111 66 24 35 37
Net debt (negative = net cash) −157 −25 −175 −37 −71 59 −35 −83 −169 −200
Returned to shareholders
Dividends 3 86 30 33 — 50 6 — 10 6
Buybacks — — — — — — — 3 0 0
Total returned 3 86 30 33 — 50 6 3 10 6

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 6 checks passed · December 31, 2025
What it owns · $684m
Short-term assets $271mLonger-term assets $413m
What it owes, and who funded it · $680m
Short-term liabilities $169mLonger-term liabilities $286mShareholders' equity $225m
  • Short-term assets cover short-term liabilities $271m of assets due within a year against $169m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $271m short-term assets against $286m of longer-dated liabilities.
  • More cash than debt $236m of cash against $45m of debt.
  • Debt below 40% of shareholders' equity Debt is 20% 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 $39m of operating cash flow against $45m of debt.
  • Operating profit covers interest at least five times over Operating income of $8m against $1m of interest.

From Greentree Hospitality Group 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.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$741
Dividends (TTM)
$6M
Returned to shareholders
214%
of free cash flow
Buybacks, last 3 fiscal years
$2.8M
Total shareholder yield
6.1%
dividends 6.1% + buybacks 0.0% of market value
Dividend payout ratio
26%
of net income paid out
Days sales outstanding
28 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in hotels, resorts & cruise lines
Last 12 months unless stated GHG YTRA TOUR TH CVEO LIND Median
Revenue, last 12 months $153m $114m $80m $347m $707m $831m $5.2bn
Revenue growth, last 12 months −18.2% 21.2% 12.7% 11.9% 12.6% 18.3% 9.7%
Revenue growth, 3-year average — — −36.7% −16.8% 0.7% 16.1% 8.0%
Revenue growth, latest quarter — — — 38.7% 13.3% 18.6% 8.1%
Gross margin 34.9% 47.7% 58.0% 13.7% 23.3% 46.6% 47.7%
Operating margin 5.2% −1.2% 1.9% −11.1% 3.0% 7.0% 16.0%
Operating margin, 3-year average 20.6% −16.8% −27.0% 11.7% 2.1% 4.4% 15.3%
Net margin 15.2% −2.3% 5.4% −10.8% −1.1% −2.1% 11.4%
Cash from operations / revenue 25.6% 6.6% −18.9% 49.0% 6.7% 17.2% 20.4%
Free-cash-flow margin 1.8% 6.2% −20.1% 46.6% 4.2% 13.1% 12.1%
Free-cash-flow margin, 3-year average 21.2% −17.4% −34.4% 35.6% 4.9% 9.4% 10.3%
Stock pay / revenue 0.0% 2.8% 1.0% 2.2% 1.3% 1.0% 1.3%
Change in share count — 1.0% −5.7% −0.2% −16.9% 9.0% −3.4%

Median of all 25 companies we cover in hotels, resorts & cruise lines. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 hotels, resorts & cruise lines companies
Measure Company Peer median Rank
Revenue growth Growth -18.2% 9.7% 25 of 25
Change in growth rate Growth +0.6pp -0.5pp 10 of 25
Gross margin Profitability 34.9% 47.7% 12 of 14
Operating margin Profitability 5.2% 16.0% 18 of 22
Net margin Profitability 15.2% 11.4% 8 of 25
Free-cash-flow margin Cash generation 1.8% 12.7% 22 of 24
Long-term debt as % of assets Balance sheet 5.4% 41.9% 7 of 24
Days sales outstanding Balance sheet 28 days 52 days 7 of 17

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$7.2M
Institutions reporting
10
Shares held vs prior quarter
▼ 4.7%
Positions opened / closed
3 / 2

Top buyers and sellers, Q2 2026: 3 institutions bought and 4 sold ; the biggest buyer was LPL Financial LLC (+10K shares) and the biggest seller Westwood Global Investments, LLC (−299K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Allspring Global Investments Holdings, LLC $5.2M 4.6M 71.8% 0.0%
Oasis Management Co Ltd. $1.2M 1.1M 17.2% 0.0%
Sei Investments Co $518,032 458K 7.2% 0.0%
Renaissance Technologies LLC $210,127 186K 2.9% ▼ 7.1%
Citadel Advisors LLC $34,120 30K 0.5% ▼ 34.1%
Genus Capital Management Inc. $17,646 16K 0.2% 0.0%
LPL Financial LLC $11,300 10K 0.2% New
Osaic Holdings, Inc. $452 0K 0.0% New
Sbi Securities Co., Ltd. $82 0K 0.0% 0.0%
Caitong International Asset Management Co., Ltd $1 0K 0.0% New

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 Greentree Hospitality Group Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From 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

Results announcements

Recent SEC filings

Data status

When each part of this page on Greentree Hospitality Group Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Greentree Hospitality Group Ltd. in brief

What does Greentree Hospitality Group Ltd. do?
Greentree Hospitality Group Ltd. is a US-listed company in the hotels, resorts & cruise lines industry. Its financial year ends in December.
What is Greentree Hospitality Group Ltd.'s stock ticker?
Greentree Hospitality Group Ltd. trades under the ticker GHG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Greentree Hospitality Group Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Greentree Hospitality Group Ltd. reported revenue of $153M, 18.2% lower than a year earlier, according to its SEC filings.
What is Greentree Hospitality Group Ltd.'s free cash flow?
Greentree Hospitality Group Ltd.'s free-cash-flow margin is 1.8% of revenue over the trailing twelve months, ranking 22 of the 24 hotels, resorts & cruise lines companies we cover.
Who are Greentree Hospitality Group Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Allspring Global Investments Holdings, LLC, Oasis Management Co Ltd. and Sei Investments Co. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Does Greentree Hospitality Group Ltd. pay a dividend?
Yes: Greentree Hospitality Group Ltd. paid $6M in dividends over the trailing twelve months, a dividend yield of 6.12% and a payout ratio of 25.8%.
How much debt does Greentree Hospitality Group Ltd. have?
Greentree Hospitality Group Ltd.'s debt-to-equity ratio is 19.9%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Greentree Hospitality Group Ltd.'s competitors?
In our Hotels, Resorts & Cruise Lines peer group, the companies closest to Greentree Hospitality Group Ltd. are Yatra Online, Inc., Tuniu Corp, Target Hospitality Corp., Civeo Corp and Lindblad Expeditions Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Greentree Hospitality Group Ltd.'s.