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Chagee Holdings Limited American Depositary Shares

CHA

Chagee Holdings Limited American Depositary Shares • NASDAQ
$14.99 ▲ 6.09% (+0.86)
Market Cap $2.53 B
52w High $41.80
52w Low $13.04
Dividend Yield 0%
P/E 19.99
Volume 692.70K
Outstanding Shares 168.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $3.332B ▼ $1.503B ▲ $69.541M ▼ 2.087% ▼ $0.34 ▼ $107.614M ▼
Q1-2025 $3.393B ▲ $824.607M ▼ $678.858M ▲ 20.009% ▲ $3.54 ▼ $820.776M ▲
Q4-2024 $3.334B ▼ $914.354M ▲ $659.022M ▲ 19.764% ▲ $3.59 ▲ $642.483M ▼
Q3-2024 $3.541B ▲ $842.289M ▲ $640.979M ▲ 18.1% ▼ $3.49 ▲ $794.25M ▲
Q2-2024 $3.023B $612.054M $621.851M 20.568% $3.22 $753.109M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $8.859B ▲ $11.067B ▲ $2.871B ▲ $7.977B ▲
Q1-2025 $5.37B ▲ $7.253B ▲ $2.84B ▼ $4.262B ▲
Q4-2024 $4.855B ▲ $6.596B ▲ $3.842B ▲ $2.654B ▲
Q3-2024 $4.326B ▲ $5.752B ▲ $2.722B ▲ $2.017B ▲
Q2-2024 $3.755B $4.99B $2.62B $1.396B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $0 $572.654M ▼ $-42.675M ▲ $-617K ▲ $542.357M ▼ $527.55M ▼
Q3-2024 $0 ▼ $754.497M ▼ $-80.474M ▼ $-98.356M ▼ $571.659M ▼ $653.933M ▼
Q2-2024 $628.721M ▲ $987.032M ▲ $-62.493M ▼ $-88.833M ▼ $837.658M ▲ $924.519M ▲
Q1-2024 $595.102M ▲ $523.473M ▼ $-43.837M ▼ $13.874M ▼ $494.327M ▼ $490.395M ▼
Q4-2023 $310.274M $703.082M $217.243M $136.128M $1.044B $689.412M

Five-Year Company Overview

Income Statement

Income Statement Chagee’s income statement shows a very fast shift from a small, loss‑making base to a sizable, profitable business in just a few years. Revenue has multiplied several times, and profits have grown even faster, which suggests strong operating leverage: once basic costs are covered, extra sales fall heavily to the bottom line. Profitability metrics look healthy for a beverage chain, indicating good pricing power and cost control. The key questions going forward are how long this pace of growth can be maintained and whether margins stay strong as the company expands into more competitive and expensive markets overseas.

Balance Sheet

Balance Sheet The balance sheet has transformed from fragile to solid. The company has moved from negative net worth to a positive equity position, and its asset base has grown quickly along with the business. Cash holdings are sizeable relative to its scale, while financial debt appears modest, implying low leverage and a reasonable cushion against shocks. This gives management room to invest and experiment. However, rapid store expansion, especially via franchises, can introduce off‑balance‑sheet obligations and operational risks that simple balance sheet figures may not fully capture.

Cash Flow

Cash Flow Cash flow is a clear strength. The business now generates healthy cash from operations, and most of that translates into free cash flow after relatively light capital spending, consistent with a franchise‑heavy model. This means growth has so far been largely self‑funded rather than heavily reliant on borrowing. As the company pushes harder into new countries and formats, cash demands for support, marketing, and technology could rise, so an important watchpoint is whether free cash flow remains comfortably positive while expansion accelerates.

Competitive Edge

Competitive Edge Chagee holds a strong position in premium tea beverages by combining traditional Chinese tea culture with a modern, health‑focused image. Its brand is distinctive, store design is highly curated, and it targets urban, younger consumers who are willing to pay for quality and experience. A focused product lineup built around a few blockbuster milk tea items simplifies operations and reinforces brand identity. The large, franchise‑driven store network provides scale advantages but also depends heavily on partner quality. Competition is intense—from local milk tea rivals and global coffee chains—and success abroad is not guaranteed, as the brand must resonate with very different consumer tastes and habits.

Innovation and R&D

Innovation and R&D Innovation is central to Chagee’s story. On the product side, it emphasizes fresh tea leaves, lower‑calorie drinks, and transparent nutrition information, aligning with health trends. On the operations side, it uses proprietary, semi‑automated tea machines and digital ordering systems to deliver consistent drinks quickly and at scale. A very large loyalty program offers rich data to refine menus and promotions. New concepts like “CHAGEE NOW” aim to position tea as an everyday alternative to coffee, directly challenging established coffee routines. The company also invests in its supply chain and owns key tea sources, which can support quality and cost advantages. The main risk is that competitors can copy elements of the model, so Chagee must keep refreshing both products and customer experience to stay ahead.

Summary

Overall, Chagee looks like an early‑stage, high‑growth consumer brand that has quickly turned strong sales momentum into solid profits, cash generation, and a healthier balance sheet. Its edge comes from a clear brand identity, tight product focus, operational technology, and a fast‑scaling franchise network. At the same time, the strategy involves meaningful execution risk: maintaining quality across thousands of franchised stores, proving the concept in very different international markets, and defending margins as competition responds. The company’s trajectory so far is impressive, but its future path will depend on how well it manages the transition from rapid domestic expansion to sustainable, globally diversified growth.

NEWS

November 28, 2025 · 6:00 AM UTC

Chagee Announces Third Quarter 2025 Unaudited Financial Results

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November 21, 2025 · 6:00 AM UTC

Chagee to Announce Third Quarter 2025 Financial Results on November 28, 2025

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September 17, 2025 · 5:00 AM UTC

CHAGEE Wins Best Natural/Organic Beverage and Celebrates Three Nominations at World Beverage Innovation Awards 2025

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