HDL

MKT CAP:$831M

SUPER HI INTERNATIONAL HOLDING Ltd. American Depositary Shares

Market Cap

$831M

Consumer Cyclical·Restaurants·🇰🇾 Cayman Islands·NASDAQ

Consumer Cyc.·Restaurants·🇰🇾·NASDAQ

Stock Price

$14.12-$2.33 (-14.16%)

Apr 24, 2026

Company Details

Super Hi International Holding Ltd., an investment holding company, operates Haidilao-branded Chinese cuisine restaurants in Asia, North America, Europe, Oceania, and internationally. The company is involved in the food delivery business. I...

CEO

Lijuan Yang

IPO Date

Jun 7, 2010

Website

www.superhiinternational.com

Key Metrics TTM

Revenue

$841M

+21.0% YoY

Net Income

$36M

EPS (Diluted)

$0.43

Free Cash Flow

$68M

Revenue / Share

$18.83

Gross Margin

28.0%

Operating Margin

13.7%

Net Margin

4.3%

FCF Margin

8.0%

P/S

1.0x

P/E

22.8x

Earnings Reports

Q4 2025

Apr 13, 2026

NEW

$230MEPS $0.10

Q3 2025

Nov 26, 2025

$214MEPS $0.06

Q2 2025

Aug 26, 2025

$199M+9.1%EPS $0.25

Q1 2025

Apr 24, 2025

$198M+4.9%EPS $0.02

Q2 2024

Aug 27, 2024

$182M+14.0%EPS -$0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$68M	-$2M	-$15M
Q2 21	$67M	-$8M	-$21M
Q3 21	$89M	$13M	$9M
Q4 21	$89M	$13M	$9M
Q3 22	$157M	$48M	$41M
Q4 22	$157M	$48M	$41M
Q1 23	$164M	$54M	$46M
Q2 23	$160M	$45M	$36M
Q1 24	$189M	$58M	$49M
Q2 24	$182M	$50M	$39M
Q1 25	$198M	$55M	$47M
Q2 25	$199M	$51M	$39M
Q3 25	$214M	$72M	$13M
Q4 25	$230M	$57M	$17M

Valuation

Quarter	P/S	P/E
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	37.8x	—
Q3 22	29.4x	—
Q4 22	24.0x	—
Q1 23	20.8x	—
Q2 23	18.5x	656.1x
Q1 24	17.6x	1869.9x
Q2 24	15.9x	—
Q1 25	20.7x	2854.9x
Q2 25	16.5x	534.1x
Q3 25	1.5x	38.4x
Q4 25	1.1x	26.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	-$9M	-$25M
Q2 21	-$3M	-$33M
Q3 21	$6M	-$4M
Q4 21	$6M	-$4M
Q3 22	$19M	$3M
Q4 22	$19M	$3M
Q1 23	$28M	$28M
Q2 23	$36M	$19M
Q1 24	$24M	$24M
Q2 24	$24M	$24M
Q1 25	$20M	$20M
Q2 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q1 21	$16M
Q2 21	$30M
Q3 21	$11M
Q4 21	$11M
Q3 22	$16M
Q4 22	$16M
Q1 23	$0
Q2 23	$17M
Q1 24	$0
Q2 24	$17M
Q1 25	$0
Q2 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+130.7%	+39.3%
Q4 22	+136.4%	+33.7%
Q1 23	+84.7%	+47.3%
Q2 23	+80.1%	+55.1%
Q1 24	+19.8%	+19.4%
Q2 24	+15.9%	+22.6%
Q1 25	+20.6%	+28.3%
Q2 25	+24.4%	+29.1%
Q3 25	+13.5%	+44.6%
Q4 25	+26.3%	+49.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 21	—	—	$13M
Q2 21	—	—	$13M
Q3 21	$4M	$418.0K	—
Q4 21	$4M	$418.0K	—
Q3 22	$7M	$460.0K	—
Q4 22	$7M	$460.0K	—
Q1 23	—	—	$7M
Q2 23	$8M	$951.0K	—
Q1 24	—	—	$8M
Q2 24	$9M	$2M	—
Q1 25	—	—	$9M
Q2 25	$9M	$3M	—
Q3 25	$8M	—	—
Q4 25	—	—	$41M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$73M	$36M	$109M
Q2 22	$126M	$336.0K	$126M
Q3 22	$94M	$14.0K	$94M
Q4 22	$94M	$14.0K	$94M
Q1 23	$0	$188M	$188M
Q2 23	$119M	$0	$119M
Q3 23	$153M	$0	$153M
Q4 23	$153M	$0	$153M
Q1 24	$90M	$66M	$156M
Q2 24	$141M	$77M	$218M
Q3 24	$215M	$29M	$244M
Q4 24	$255M	$0	$255M
Q1 25	$205M	$48M	$253M
Q2 25	$258M	$0	$258M
Q3 25	$218M	$50M	$267M
Q4 25	$275M	$0	$275M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	557M	—	—
Q2 21	557M	0.0%	—
Q3 21	557M	+0.0%	—
Q4 21	557M	0.0%	—
Q3 22	557M	0.0%	+0.0%
Q4 22	557M	0.0%	+0.0%
Q1 23	562M	+0.8%	+0.8%
Q2 23	553M	-1.5%	-0.8%
Q1 24	446M	-19.4%	-20.0%
Q2 24	565M	+26.8%	+1.4%
Q1 25	577M	+2.1%	+2.7%
Q2 25	65M	-88.7%	-88.2%
Q3 25	59M	-9.5%	-86.8%
Q4 25	45M	-24.1%	-92.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q1 24	—	—
Q2 24	—	—
Q1 25	$15.1K	13K
Q2 25	$15.2K	13K
Q3 25	$16.4K	13K
Q4 25	$17.6K	13K

Revenue / Employee