TH International (FRA:FQ10) ROCE %: -385.36% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:FQ10 TH International Ltd FRA:FQ10
52 GF Score
Price €3.08
GF Value €5.02
! 4 Warning Signs
View Full Analysis

What is TH International ROCE %?

TH International FRA:FQ10 52 ROCE % is -385.36% as of Mar. 2026. GuruFocus rates FRA:FQ10 with a GF Score™ of 52/100 and a GF Value™ of €5.02. The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. TH International's annualized ROCE % for the quarter that ended in Mar. 2026 was -385.36%.

TH International  (FRA:FQ10) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

TH International ROCE % Related Terms

TH International ROCE % Historical Data

* Premium members only.

The historical data trend for TH International's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

TH International ROCE % Chart

TH International Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial -67.64 -70.86 -73.96 -105.02 -409.88

TH International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 -385.36
FRA:FQ10
52GF Score
TH International Ltd FRA:FQ10
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TH International ROCE % Calculation

TH International's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=-50.762/( ( (205.087 - 201.466) + (142.674 - 121.526) )/ 2 )
=-50.762/( (3.621+21.148)/ 2 )
=-50.762/12.3845
=-409.88 %

TH International's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=-52.872/( ( (142.674 - 121.526) + (132.708 - 126.416) )/ 2 )
=-52.872/( ( 21.148 + 6.292 )/ 2 )
=-52.872/13.72
=-385.36 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of -385.36% mean?
TH International (FRA:FQ10) has a ROCE % of -385.36% as of Mar. 2026.
Is TH International's ROCE % too high?
TH International's current ROCE % is -385.36%. Overall, TH International has a GF Score™ of 52/100, reflecting its overall financial health beyond just this single metric.
How does TH International's ROCE % compare to RAVE and STKS?
TH International's ROCE % of -385.36% can be compared against companies in the Restaurants industry. The industry median ROCE % is 6.11. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Restaurants company?
The median ROCE % among Restaurants companies is 6.11, based on 351 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Restaurants industry, the median ROCE % is 6.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TH International's current ROCE % is -385.36%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TH International stock overvalued right now?
TH International (FRA:FQ10) has a current ROCE % of -385.36%. The stock's GF Value™ is €5.02, compared to a current price of €3.08 — trading 38.7% below its estimated fair value. The current ROCE % is -385.36%. TH International's overall GF Score™ is 52/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For TH International (FRA:FQ10), the current ROCE % is -385.36% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is TH International (FRA:FQ10) Overvalued in 2026?

Based on GuruFocus' analysis, TH International stock appears to be undervalued. The current stock price of €3.08 is trading 38.7% below its estimated GF Value™ of €5.02.

Key valuation signals for FRA:FQ10:

  • ROCE %: -385.36%
  • GF Value™: €5.02 vs. price of €3.08 (38.7% below fair value)
  • GF Score™: 52/100 with 4 warning signs

No single metric tells the full story. See the FRA:FQ10 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

TH International Business Description

Other Exchanges THCH:USA
Address 227 Huangpi North Road, 2501 Central Plaza, Shanghai, CHN, 200003
TH International Ltd is the exclusive master franchisee in China for Tim Hortons, a world-wide coffee and bakery shop brand. Through the Tim Hortons brand, the firm offers freshly brewed coffee, tea, and other beverages, bakery & sides, and sandwiches. The Company operated under a single reportable segment, Tim Hortons. The company's revenue is derived from sales of food, beverages, and packaged products by company-owned and operated stores, franchise fees, and revenue from other franchise support activities. Its geographic revenue is derived from operations in the PRC.
52GF Score

Get the complete analysis for FRA:FQ10

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€3.08
Price
€5.02
GF Value