| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 72 | 15.3x | 17.8x | Top tier | |
Growth | 89 | 40.1% | 7.1% | Top tier | |
Quality | 88 | 30.4% | 4.5% | Top tier | |
Safety | 82 | — | 2.6x | Top tier | |
Capital Return | 62 | 0.85% | 2.12% | Around median | |
Momentum | 34 | -2.5% | 2.9% | Bottom tier | |
Sentiment | 76 | 7 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Atour Lifestyle Holdings Limited is a hospitality and lifestyle company that combines the operation of a multi-brand hotel network with the sale of sleep products through Atour Planet. Hotel revenue is generated primarily from manachised hotels, alongside a smaller number of leased hotels and the supply chain business; revenue from manachised hotels reached RMB 1.725 billion in Q2 FY2026, compared with RMB 132 million for leased hotels. The retail business sells pillows, comforters, bedsheets, and homewear, and generated RMB 1.575 billion in the same period, making it a major and growing source of revenue diversification beyond hotel accommodation.
In Q2 FY2026, net revenues increased 41.4% year over year to RMB 3.490 billion. Hotel gross profit grew 18.7% to RMB 659 million, and retail gross profit rose 57.4% to RMB 809 million, but margins in both businesses declined because of changes in the revenue and product mix. Adjusted net profit margin was 16.0%, down 1.3 percentage points, and adjusted EBITDA margin was 23.5%, down 1.2 percentage points, while selling and marketing expenses rose to 17.4% of revenues from 15.9% in the corresponding quarter of FY2025.
The network reached 2,175 operating hotels and 811 hotels under development by the end of Q2 FY2026, after opening 101 hotels during the quarter. Overall RevPAR remained relatively resilient at RMB 345.4, or 100.7% of its level in the corresponding quarter of FY2025, but RevPAR for mature hotels operating for more than 18 months was RMB 336.8, or only 97% of the comparable level. The company ended the period with liquidity of RMB 3.9 billion and net cash of RMB 3.7 billion.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy, with an average target of $45 and identical high and low targets of $45, making the consensus estimate extremely narrow. This target is approximately 4.2% above the 52-week range high of $43.173, compared with a low of $30.775; this valuation balances revenue growth of 41.4% in Q2 FY2026 against the decline in adjusted net profit margin and management's expectation of a slight annual margin decline.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Atour Planet was the fastest-growing driver, with retail revenues increasing 63.2% year over year to RMB 1.575 billion. Cumulative sales of the Deep Sleep Memory Foam Pillow Pro series exceeded 12 million units, while the gross merchandise value of comforters grew by more than 80%. Based on first-half performance and new product momentum, management raised its full-year FY2026 retail revenue growth forecast to 40% on August 20, 2026.
The company opened 101 hotels in Q2 FY2026, bringing the network to 2,175 operating hotels with 811 projects under development. Revenue from manachised hotels increased 32.8% to RMB 1.725 billion, and overall RevPAR reached RMB 345.4, or 100.7% of its comparable level. By contrast, RevPAR for mature hotels was RMB 336.8, or only 97% of the level in the corresponding quarter of FY2025, meaning that network openings and related activities account for an important portion of growth.
On the August 20, 2026 call, management forecast 30% growth in total net revenues compared with FY2025. It raised its retail revenue growth forecast to 40% year over year, while keeping its hotel opening target unchanged and guiding for the closure of approximately 80 hotels. However, it also maintained its expectation of a slight year-over-year decline in net profit margin because of changes in the revenue mix and a higher effective tax rate.
On August 20, 2026, the company unveiled Deep Sleep Memory Foam Pillow Pro 4.0, which uses a dynamic support system to adapt to different sleeping positions. It also introduced Deep Sleep Thermo-Regulating Comforter Pro 3.0 All-Season, featuring a system that balances temperature and humidity across changing seasons. Alongside pillows and comforters, bedsheets and homewear became two strategic categories with greater contributions to revenue in Q2 FY2026.
RevPAR for operating Atour 3.6 hotels exceeded RMB 370 in Q2 FY2026. Atour Origin exceeded RMB 450, with more than 60 operating hotels and more than 90 projects in the development pipeline as of the August 20, 2026 call. SAVHE's RevPAR exceeded RMB 1,000, while Atour Light 3.3 exceeded RMB 340, highlighting the different price points and use cases within the portfolio.
Cash and cash equivalents totaled RMB 3.9 billion as of June 30, 2026, and net cash totaled RMB 3.7 billion. The cumulative value of share repurchases exceeded $150 million from the program's inception through the end of Q2 FY2026. Management said on August 20, 2026 that it continues to implement its existing dividend policy, but the higher effective tax rate associated with the shareholder return program will partially pressure net profit margin in FY2026.
