To the full analysis
H World Group stock: balance sheet and debt
HTHTH World Group has a debt to equity ratio of 2.78 and an interest coverage of 22.6x.
Daily figure as of 13 Nov 2026
Debt / Equity
2.78
Interest coverage
22.6x
Current ratio
0.91
Cash & equivalents
$2.31B
Total assets
$9.72B
Equity ratio
20%
Goodwill
$814.52M
Plus intangible assets of $754.5M
Net debt
$3.1B
Total assets and equity ratio
How large the balance sheet of H World Group Limited is, how much of it is equity and how much is goodwill from acquisitions.
Equity ratio
Figures as a table
| Year | Total assets | Goodwill and intangible assets | of which goodwill | Equity ratio | Net debt |
|---|---|---|---|---|---|
| 2007 | $125.38M | $5.57M | $2.35M | 12.6% | −$20.37M |
| 2008 | $214.89M | $6.23M | $2.93M | −2.0% | −$11.06M |
| 2009 | $237.11M | $5.83M | $2.77M | 57.1% | −$20.03M |
| 2010 | $456.5M | $14.8M | $6.2M | 69.8% | −$173.97M |
| 2011 | $528.62M | $16.84M | $6.38M | 64.0% | −$117.21M |
| 2012 | $649.37M | $24.77M | $9.62M | 57.5% | −$68.67M |
| 2013 | $777.57M | $25M | $9.72M | 54.5% | −$58.53M |
| 2014 | $927.21M | $25.37M | $9.7M | 52.1% | −$125.29M |
| 2015 | $1.15B | $37.96M | $16.25M | 44.7% | −$212.88M |
| 2016 | $1.5B | $98.93M | $25.72M | 54.2% | −$440.4M |
| 2017 | $2.61B | $607.18M | $339.63M | 37.1% | $217.14M |
| 2018 | $3.6B | $669.44M | $394.41M | 26.3% | $811.16M |
| 2019 | $7.95B | $679.94M | $398.45M | 14.2% | $4.8B |
| 2020 | $9.87B | $1.67B | $748.02M | 17.4% | $5.11B |
| 2021 | $9.49B | $1.61B | $769.62M | 17.5% | $5.47B |
| 2022 | $9.22B | $1.6B | $779.06M | 14.3% | $5.78B |
| 2023 | $9.53B | $1.62B | $797.51M | 19.3% | $4.01B |
| 2024 | $9.38B | $1.53B | $782.96M | 19.6% | $3.65B |
| 2025 | $9.72B | $1.57B | $814.52M | 20.0% | $3.1B |
The equity ratio divides total equity, including non-controlling interests, by total assets. Net debt is debt minus cash and short-term investments; a negative figure means cash exceeds debt.
Equity and debt
What the company owns and owes
- Cash & equivalents
- Equity
- Debt
Figures as a table
| Year | Cash & equivalents | Equity | Debt | Debt / Equity |
|---|---|---|---|---|
| 2007 | $26.04M | $15.42M | $5.67M | 0.36 |
| 2008 | $27.48M | −$5.3M | $16.42M | −3.74 |
| 2009 | $40.58M | $14.11M | $20.55M | 0.15 |
| 2010 | $173.97M | $317.34M | $0 | 0 |
| 2011 | $117.21M | $336.83M | $0 | 0 |
| 2012 | $68.67M | $369.69M | $0 | 0 |
| 2013 | $59.6M | $422.26M | $1.07M | 0 |
| 2014 | $125.29M | $482.43M | $0 | 0 |
| 2015 | $261.57M | $514.39M | $48.69M | 0.09 |
| 2016 | $485.14M | $809.75M | $44.73M | 0.06 |
| 2017 | $540.57M | $929.48M | $757.71M | 0.78 |
| 2018 | $652.49M | $925.88M | $1.46B | 1.54 |
| 2019 | $921.08M | $1.11B | $5.72B | 5.09 |
| 2020 | $1.64B | $1.7B | $6.75B | 3.93 |
| 2021 | $1.16B | $1.64B | $6.62B | 4 |
| 2022 | $805.46M | $1.31B | $6.58B | 4.99 |
| 2023 | $1.37B | $1.82B | $5.38B | 2.93 |
| 2024 | $1.66B | $1.83B | $5.32B | 2.89 |
| 2025 | $2.31B | $1.92B | $5.41B | 2.78 |
Debt to equity divides debt by total equity, including non-controlling interests, as S&P calculates it. The equity column shows the part that belongs to shareholders.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 24 Apr 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.