Atour Lifestyle Holdings Ltd (ATAT) stock analysis
Close on Nov 12, 2026Market cap $5.07BP/E 21.2Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed12 of 30 checks passed
Atour Lifestyle passes 12 of the 30 checks behind our score; 16 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 3/6
- Past performance
- 5/6
- Financial health
- 4/6
- Dividend
- 0/6
What stands out
Return on equity over 15%
Return on equity was 49.5% over the last twelve months and averaged 36.3% over five years.
Low debt
Debt is 7.0% of shareholders' equity, under the 40% we consider low.
Earnings grew over 5 years
Net income grew 108% a year on average over the last five fiscal years.
Revenue growing 10%+ a year
Revenue grew 62.9% a year over the last three fiscal years.
What to watch
Earnings growth not accelerating
Net income grew 27.1% over the last twelve months, against a 5-year average of 108% a year.
No dividend
Atour Lifestyle has not paid a dividend in the last twelve months.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 62.9% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 146% a year over the last three fiscal years.
Earnings growth not accelerating
Net income grew 27.1% over the last twelve months, against a 5-year average of 108% a year.
Growing faster than the industry
Revenue grew 35.1% over the last twelve months; the Hotels and Motels median is 3.9%.
Guidance issued
The latest outlook (full year of 2026 total net revenues, Mar 17, 2026) was issued for the first time, so it neither adds nor takes away points.
Gross margin trend
This company does not report gross profit.
Past performance5/6
Return on equity over 15%
Return on equity was 49.5% over the last twelve months and averaged 36.3% over five years.
Return on invested capital
Needs operating income and invested capital.
Return on equity above the industry
Atour Lifestyle's return on equity of 49.5% is above the Hotels and Motels median of 20.0%.
Earnings grew over 5 years
Net income grew 108% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 16.6% over the last twelve months, against a 5-year average of 12.2%.
Net margin above the industry
Atour Lifestyle's net margin of 16.6% is above the Hotels and Motels median of 5.7%.
Financial health4/6
Low debt
Debt is 7.0% of shareholders' equity, under the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 791% of total debt.
Interest well covered
Operating income covers interest expense 542.9 times.
Short-term assets cover short-term debts
Current assets are 1.97 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Atour Lifestyle has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Atour Lifestyle. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $29.15M
- Value traded per 1% price move
- $17.80M
Downside
Low risk
- Typical loss in a bad month
- 13.3%
- Volatility (annualized)
- 40%
- Sharpe ratio, 1 year
- -0.31
- Beta to the S&P 500 (5Y)
- 0.78
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2019 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +35.1% | +62.9% | +44.3% | – | |
| Operating income | +42.2% | +140.9% | +105.3% | – | |
| Net income | +27.1% | +154.7% | +107.6% | – | |
| EPS, diluted | +26.5% | +146.0% | – | – | |
| Free cash flow | +14.2% | +97.6% | +217.4% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 49.5% | |
| Return on assets | – | – | 19.0% | |
| Current ratio | – | – | 1.97 | |
| Debt to equity | – | – | 0.07 | |
| Net debt to EBITDA | – | – | -1.29× | |
| Interest coverage | – | 42.7× | 542.9× | |
| Capex to revenue | – | 7.2% | 0.9% | |
| Diluted shares | – | 172M | 419M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Atour Lifestyle generated CN¥6.41B from operations and spent CN¥2.10B on capital expenditure, dividends and share buybacks. 14% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 16.6% | 1.15× | 2.60× | 49.5% |
| FY2024 | 17.6% | 1.00× | 2.88× | 50.8% |
| FY2023 | 15.8% | 0.82× | 3.48× | 45.1% |
| FY2022 | 4.3% | 0.65× | 3.94× | 11.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zeroCN¥1.62B
- Cash generatingOperating cash flow above zeroCN¥1.99B
- Return on assets improvedROA up on the prior year19.4% → 20.6%
- Earnings backed by cashOperating cash flow above net incomeCN¥1.99B vs CN¥1.62B
- Less leverageLong-term debt to assets fell0.0% → 0.0%
- Better liquidityCurrent ratio rose2.02 → 1.97
- No dilutionShare count did not rise417M → 419M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.10 → 1.24
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