Q4 25 EPS
$0.05
MISS 97.94%
Est. $2.43
Q4 25 Revenue
$6.53B
BEAT +2.06%
Est. $6.39B
Full Year 2025 Results
FY 25 EPS
$0.96
FY 25 Revenue
$25.31B
Did HTHT Beat Earnings? Q4 2025 Results
H World Group delivered a standout fourth quarter for fiscal 2025, posting revenue of $6.53 billion, up 8.3% year-over-year, and earnings per share of $0.05, with results clearing the company's own guidance range of 2%-6% growth across key metrics. T… Read more H World Group delivered a standout fourth quarter for fiscal 2025, posting revenue of $6.53 billion, up 8.3% year-over-year, and earnings per share of $0.05, with results clearing the company's own guidance range of 2%-6% growth across key metrics. The headline driver was a dramatic margin expansion story: Q4 operating margin surged to 29.1% from just 15.0% a year earlier, fueled by the ongoing asset-light transformation that pushed management and franchise revenue to 56.2% of Legacy-Huazhu segment sales, up from 49.3% in fiscal 2024. Net income attributable to the company rocketed to $1.17 billion in the quarter, compared to just $49.00 million in the prior-year period, with Legacy-DH swinging to an Adjusted EBITDA of $329.00 million from a loss of $247.00 million. Analysts covering H World will now parse guidance calling for 2%-6% total revenue growth in fiscal 2026, with M&F revenue expected to climb 12%-16% as the company targets 2,200-2,300 new hotel openings.
Key Takeaways
- • Asset-light M&F model transformation driving operating margin expansion from 15.0% to 29.1% YoY in Q4
- • M&F revenue grew 21.0% YoY in Q4, now 56.2% of Legacy-Huazhu revenue vs 49.3% prior year
- • Rapid network expansion with 2,444 new hotels opened in FY2025
- • RevPAR returned to positive YoY growth in Q4 for Legacy-Huazhu at 2.0%
- • Legacy-DH turnaround with Adjusted EBITDA swinging from -RMB247M to +RMB329M in Q4
- • Hotel operating costs as percentage of revenue declined in both segments
- • SG&A expenses declined 9.5% YoY in Q4
HTHT YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
HTHT Revenue by Segment
With YoY comparisons, source: SEC Filings
HTHT Revenue by Geography
Regional revenue distribution
“2025 marked our 20th anniversary. I am pleased to see that we opened a total of 2,444 new hotels throughout the year, representing another year of rapid network expansion. More importantly, driven by our ongoing product upgrades and a series of revenue management optimization initiatives, our RevPAR year-on-year performance started to improve from the third quarter and returned to positive growth in the fourth quarter. Looking ahead, we will continue to pursue high-quality hotel network expansion, strengthen our brand positioning and 'service excellence', enhance member-centric sales capabilities underpinned by the H Rewards membership program, and further deepen technology and AI empowerment.”
— Jin Hui, Q4 2025 Earnings Press Release
HTHT Earnings Trends
HTHT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HTHT EPS Trend
Earnings per share: estimate vs actual
HTHT Revenue Trend
Quarterly revenue: estimate vs actual
HTHT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $3.89 | $0.34 | -91.27% | $869.0M | -85.29% |
| Q4 25 MISS FY | $2.43 | $0.05 | -97.94% | $6.53B | +2.06% |
| FY Full Year | — | $0.96 | — | $25.31B | — |
| Q3 25 BEAT | $4.76 | $4.76 | +0.10% | $6.96B | +3.13% |
| Q2 25 BEAT | $4.12 | $4.85 | +17.76% | $897.0M | -85.72% |
| Q1 25 MISS | $3.02 | $2.85 | -5.53% | $5.40B | -2.53% |