GreenTree Hospitality Group Ltd. (GHG) Key Metrics
GHG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Chinese yuanGHG returns How much profit the business earns on the capital it uses.
GHG financial health Debt, liquidity and how easily interest is covered.
GHG efficiency & capital use Working capital cycle and where the cash goes.
GHG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
GHG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
GHG cash returned to shareholders
GHG key metrics in Chinese yuan
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.0% | 7.6% | 17.6% | −24.5% | 4.5% | 13.4% | 24.2% | 32.3% | 35.5% | 29.5% |
| Return on invested capital (ROIC) | 7.1% | 4.7% | 9.2% | −17.1% | 4.9% | 22.1% | 127.7% | — | — | — |
| Return on assets (ROA) | 3.4% | 2.2% | 5.0% | −8.2% | 2.0% | 6.6% | 13.0% | 16.5% | 15.7% | 16.2% |
| Return on tangible assets | 3.5% | 2.3% | 5.6% | −8.0% | 2.2% | 7.5% | 13.7% | 13.2% | 16.3% | 14.2% |
| Free cash flow margin | 1.8% | 21.9% | 22.5% | 22.5% | −10.2% | 19.8% | 37.9% | 43.7% | 59.1% | 67.5% |
| Income quality (OCF / net income) | 1.64 | 3.39 | 1.69 | — | 4.07 | 1.14 | 1.16 | 1.41 | 1.67 | 1.67 |
| Financial health | ||||||||||
| Total debt | CN¥1.47B | CN¥1.71B | CN¥1.83B | CN¥2.25B | CN¥708.0M | CN¥150.0M | CN¥60.0M | CN¥60.0M | CN¥623.0M | CN¥117.0M |
| Cash & short-term investments | CN¥1.66B | CN¥1.49B | CN¥1.21B | CN¥926.6M | CN¥1.01B | CN¥1.16B | CN¥964.1M | CN¥2.26B | CN¥1.25B | CN¥1.17B |
| Net debt | −CN¥186.3M | CN¥223.5M | CN¥623.9M | CN¥1.32B | −CN¥305.9M | −CN¥1.01B | −CN¥904.1M | −CN¥2.20B | −CN¥628.6M | −CN¥1.05B |
| Debt / equity | 0.93 | 1.17 | 1.27 | 1.39 | 0.38 | 0.07 | 0.03 | 0.03 | 1.07 | 0.11 |
| Debt / assets | 0.31 | 0.35 | 0.36 | 0.40 | 0.15 | 0.04 | 0.02 | 0.02 | 0.35 | 0.06 |
| Net debt / EBITDA | −0.62 | 0.70 | 1.22 | — | −0.93 | −2.61 | −1.35 | −3.94 | −1.45 | −3.03 |
| Current ratio | 1.61 | 1.57 | 1.21 | 1.18 | 1.47 | 1.82 | 1.47 | 3.63 | 1.83 | 3.26 |
| Quick ratio | 1.60 | 1.57 | 1.20 | 1.16 | 1.46 | 1.82 | 1.47 | 3.62 | 1.82 | 3.25 |
| Interest coverage | 18.4 | 25.7 | 23.9 | -17.4 | 8.4 | 92.4 | 201.3 | 987.4 | 268.6 | — |
| Working capital | CN¥716.1M | CN¥669.6M | CN¥285.2M | CN¥270.5M | CN¥581.3M | CN¥714.8M | CN¥406.5M | CN¥1.78B | CN¥672.7M | CN¥1.11B |
| Invested capital | CN¥1.39B | CN¥1.68B | CN¥2.07B | CN¥2.93B | CN¥1.55B | CN¥1.10B | CN¥893.4M | −CN¥342.5M | −CN¥45.6M | −CN¥26.3M |
| Tangible asset value | CN¥1.53B | CN¥1.32B | CN¥1.19B | CN¥1.32B | CN¥1.40B | CN¥1.66B | CN¥1.36B | CN¥1.83B | CN¥576.3M | CN¥1.02B |
| Net current asset value | −CN¥1.28B | −CN¥1.62B | −CN¥1.96B | −CN¥2.21B | −CN¥792.9M | −CN¥260.7M | −CN¥597.2M | CN¥1.30B | CN¥312.4M | CN¥752.5M |
| Capital allocation | ||||||||||
| Dividends paid | CN¥41.9M | CN¥70.9M | CN¥0 | CN¥41.0M | CN¥320.3M | CN¥320.3M | CN¥227.0M | CN¥200.5M | CN¥579.0M | CN¥18.0M |
| Share buybacks (net) | CN¥5,327 | CN¥365,284 | CN¥19.7M | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Dividend payout ratio | 25.1% | 64.5% | 0.0% | — | 361.0% | 122.5% | 51.3% | 50.9% | 202.9% | 6.8% |
| Dividends + buybacks / free cash flow | 208.6% | 24.3% | 5.4% | 19.3% | — | 173.6% | 54.9% | 48.6% | 125.9% | 4.1% |
| Capex / revenue | 23.2% | 5.9% | 5.4% | 7.3% | 28.5% | 12.1% | 9.2% | 15.0% | 2.1% | 0.9% |
| Capex / operating cash flow | 92.7% | 21.3% | 19.4% | 24.5% | 155.5% | 37.9% | 19.5% | 25.6% | 3.5% | 1.4% |
| Capex / depreciation | 2.86 | 0.69 | 0.76 | 0.63 | 5.72 | 1.71 | 2.48 | 5.56 | 0.66 | 0.17 |
| Stock-based compensation / revenue | — | — | 0.0% | −0.0% | 0.1% | 0.0% | 2.4% | 1.7% | 4.9% | — |
| SG&A / revenue | 19.4% | 21.7% | 17.7% | 77.9% | 11.8% | 18.6% | 16.9% | 10.1% | 15.6% | 12.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 66.2 | 54.0 | 103.7 | 299.1 | 83.9 | 48.1 | 28.0 | 24.8 | 58.5 | 62.7 |
| Days of inventory on hand | 3.0 | 6.1 | 8.2 | 7.4 | 1.7 | 2.9 | 2.7 | 3.2 | 3.3 | 2.8 |
| Days payables outstanding | 25.9 | 28.8 | 37.9 | 45.4 | 12.2 | 16.2 | 13.2 | 10.7 | 11.7 | 11.6 |
| Cash conversion cycle (days) | 43.4 | 31.3 | 74.0 | 261.2 | 73.3 | 34.9 | 17.6 | 17.3 | 50.1 | 54.0 |
| Receivables turnover | 5.51 | 6.77 | 3.52 | 1.22 | 4.35 | 7.58 | 13.01 | 14.70 | 6.24 | 5.82 |
| Payables turnover | 14.12 | 12.69 | 9.63 | 8.05 | 29.85 | 22.49 | 27.68 | 34.11 | 31.16 | 31.45 |
| Inventory turnover | 121.01 | 60.17 | 44.71 | 49.06 | 213.49 | 123.78 | 133.25 | 114.61 | 111.28 | 128.35 |
| Asset turnover | 0.23 | 0.27 | 0.30 | 0.18 | 0.45 | 0.24 | 0.32 | 0.40 | 0.43 | 0.39 |
| Average receivables | CN¥199.1M | CN¥198.6M | CN¥462.5M | CN¥774.4M | CN¥452.1M | CN¥122.6M | CN¥83.9M | CN¥64.3M | CN¥124.8M | CN¥111.4M |
| Average payables | CN¥50.6M | CN¥64.8M | CN¥98.4M | CN¥73.8M | CN¥21.8M | CN¥17.5M | CN¥12.2M | CN¥8.2M | CN¥7.5M | CN¥7.6M |
| Average inventory | CN¥5.9M | CN¥13.7M | CN¥21.2M | CN¥12.1M | CN¥3.1M | CN¥3.2M | CN¥2.5M | CN¥2.5M | CN¥2.1M | CN¥1.9M |
| Intangibles / total assets | 1.7% | 3.5% | 5.8% | 5.9% | 13.7% | 14.5% | 15.6% | 1.1% | 0.4% | 0.4% |
Computed from GHG's annual financial statements (latest annual report filed April 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Chinese yuan; data from EODHD. Averages use the opening and closing balance of each year.
GHG valuation and financial ratios
GreenTree Hospitality earned a return on equity of 11.0% and a return on invested capital of 7.1% in fiscal 2025. It ended the year with CN¥1.5 billion of debt and CN¥1.7 billion in cash and short-term investments, a net cash position of CN¥186.3 million. It returned CN¥41.9 million to shareholders: CN¥41.9 million in dividends and CN¥0.0 million in share buybacks, 209% of free cash flow.
See the GHG income statement, the GHG chart for price history, or the GHG stock overview for the latest quote and news.
GHG key metrics FAQ
What is GreenTree Hospitality's return on equity?
GreenTree Hospitality's return on equity (ROE) was 11.0% in fiscal 2025: net income of CN¥166.8 million on average shareholders' equity of CN¥1.5 billion.
What is GreenTree Hospitality's ROIC?
GreenTree Hospitality's return on invested capital was 7.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does GreenTree Hospitality have?
GreenTree Hospitality had total debt of CN¥1.5 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.93 and more cash than debt.
Does GreenTree Hospitality buy back its shares?
Yes. GreenTree Hospitality spent CN¥0.0 million on net share repurchases in fiscal 2025.
What is GreenTree Hospitality's current ratio?
GreenTree Hospitality's current ratio was 1.61 at the end of fiscal 2025: current assets were 1.61 times current liabilities.