GreenTree Hospitality Group Ltd
NYSE:GHG
Income Statement
Earnings Waterfall
GreenTree Hospitality Group Ltd
Revenue
|
1.6B
CNY
|
Operating Expenses
|
-1.3B
CNY
|
Operating Income
|
311.8m
CNY
|
Other Expenses
|
-46m
CNY
|
Net Income
|
265.8m
CNY
|
Income Statement
GreenTree Hospitality Group Ltd
Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||
Revenue |
648
N/A
|
674
+4%
|
710
+5%
|
748
+5%
|
743
-1%
|
808
+9%
|
840
+4%
|
872
+4%
|
906
+4%
|
945
+4%
|
994
+5%
|
1 043
+5%
|
1 092
+5%
|
1 014
-7%
|
955
-6%
|
930
-3%
|
930
+0%
|
1 014
+9%
|
1 145
+13%
|
1 189
+4%
|
1 206
+1%
|
1 075
-11%
|
937
-13%
|
1 316
+40%
|
1 274
-3%
|
1 735
+36%
|
1 627
-6%
|
|
Gross Profit | ||||||||||||||||||||||||||||
Cost of Revenue |
(67)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Gross Profit |
581
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
|
Operating Income | ||||||||||||||||||||||||||||
Operating Expenses |
(269)
|
(337)
|
(335)
|
(336)
|
(372)
|
(386)
|
(393)
|
(420)
|
(401)
|
(443)
|
(488)
|
(519)
|
(587)
|
(584)
|
(604)
|
(630)
|
(611)
|
(670)
|
(775)
|
(865)
|
(1 052)
|
(1 530)
|
(1 234)
|
(1 749)
|
(1 150)
|
(1 473)
|
(1 315)
|
|
Selling, General & Administrative |
(277)
|
(344)
|
(344)
|
(348)
|
(381)
|
(410)
|
(425)
|
(444)
|
(393)
|
(453)
|
(488)
|
(525)
|
(571)
|
(615)
|
(635)
|
(661)
|
(581)
|
(700)
|
(803)
|
(886)
|
(985)
|
(1 047)
|
(751)
|
(1 160)
|
(1 051)
|
(1 364)
|
(1 227)
|
|
Depreciation & Amortization |
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(24)
|
0
|
0
|
0
|
(37)
|
0
|
0
|
0
|
(60)
|
0
|
0
|
0
|
(90)
|
0
|
(93)
|
0
|
0
|
0
|
0
|
|
Other Operating Expenses |
9
|
6
|
9
|
12
|
10
|
24
|
32
|
25
|
17
|
10
|
(1)
|
6
|
22
|
31
|
31
|
31
|
30
|
30
|
28
|
22
|
22
|
(483)
|
(390)
|
(589)
|
(99)
|
(110)
|
(88)
|
|
Operating Income |
312
N/A
|
336
+8%
|
375
+12%
|
411
+10%
|
372
-10%
|
422
+14%
|
447
+6%
|
452
+1%
|
505
+12%
|
502
-1%
|
505
+1%
|
524
+4%
|
505
-4%
|
430
-15%
|
351
-18%
|
300
-15%
|
319
+7%
|
344
+8%
|
370
+8%
|
324
-12%
|
154
-53%
|
(454)
N/A
|
(297)
+35%
|
(433)
-46%
|
124
N/A
|
261
+112%
|
312
+19%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||
Interest Income Expense |
47
|
65
|
84
|
77
|
84
|
65
|
21
|
19
|
(9)
|
68
|
115
|
92
|
119
|
(3)
|
19
|
50
|
33
|
118
|
89
|
60
|
56
|
21
|
2
|
(1)
|
(25)
|
(15)
|
22
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(188)
|
0
|
0
|
0
|
0
|
|
Total Other Income |
1
|
1
|
1
|
(28)
|
1
|
1
|
1
|
38
|
36
|
37
|
38
|
2
|
3
|
2
|
0
|
1
|
2
|
2
|
2
|
5
|
12
|
27
|
24
|
22
|
85
|
86
|
23
|
|
Pre-Tax Income |
360
N/A
|
403
+12%
|
460
+14%
|
460
+0%
|
457
-1%
|
488
+7%
|
469
-4%
|
510
+9%
|
532
+4%
|
606
+14%
|
659
+9%
|
618
-6%
|
626
+1%
|
429
-31%
|
371
-14%
|
350
-6%
|
354
+1%
|
464
+31%
|
461
0%
|
389
-16%
|
222
-43%
|
(407)
N/A
|
(459)
-13%
|
(411)
+10%
|
183
N/A
|
333
+82%
|
356
+7%
|
|
Net Income | ||||||||||||||||||||||||||||
Tax Provision |
(84)
|
(95)
|
(109)
|
(110)
|
(183)
|
(192)
|
(187)
|
(198)
|
(153)
|
(178)
|
(197)
|
(198)
|
(190)
|
(142)
|
(117)
|
(112)
|
(111)
|
(140)
|
(150)
|
(131)
|
(109)
|
14
|
46
|
53
|
(57)
|
(90)
|
(98)
|
|
Income from Continuing Operations |
276
|
308
|
351
|
350
|
274
|
296
|
282
|
312
|
380
|
428
|
461
|
420
|
437
|
288
|
254
|
238
|
244
|
324
|
311
|
258
|
113
|
(394)
|
(414)
|
(359)
|
126
|
243
|
258
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
2
|
3
|
3
|
5
|
6
|
16
|
12
|
17
|
18
|
9
|
13
|
4
|
32
|
33
|
37
|
5
|
5
|
9
|
|
Equity Earnings Affiliates |
(11)
|
(8)
|
(4)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(8)
|
(8)
|
(8)
|
(7)
|
1
|
2
|
3
|
2
|
1
|
1
|
1
|
1
|
0
|
0
|
(2)
|
(2)
|
(2)
|
(3)
|
(1)
|
|
Net Income (Common) |
266
N/A
|
301
+13%
|
347
+15%
|
349
+1%
|
274
-22%
|
295
+8%
|
281
-5%
|
312
+11%
|
372
+19%
|
422
+14%
|
457
+8%
|
417
-9%
|
443
+6%
|
296
-33%
|
272
-8%
|
252
-7%
|
261
+4%
|
343
+31%
|
320
-7%
|
271
-15%
|
117
-57%
|
(361)
N/A
|
(382)
-6%
|
(324)
+15%
|
128
N/A
|
245
+92%
|
266
+8%
|
|
EPS (Diluted) |
2.62
N/A
|
2.96
+13%
|
3.41
+15%
|
3.43
+1%
|
2.99
-13%
|
2.91
-3%
|
2.77
-5%
|
3.08
+11%
|
3.75
+22%
|
4.16
+11%
|
4.49
+8%
|
4.09
-9%
|
4.34
+6%
|
2.87
-34%
|
2.65
-8%
|
2.45
-8%
|
2.54
+4%
|
3.33
+31%
|
3.11
-7%
|
2.63
-15%
|
1.14
-57%
|
-3.51
N/A
|
-3.71
-6%
|
-3.17
+15%
|
1.26
N/A
|
2.41
+91%
|
2.6
+8%
|