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Side-by-side financial comparison of Atour Lifestyle Holdings Ltd (ATAT) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $789.6M, roughly 1.0× Atour Lifestyle Holdings Ltd). MSCI Inc. runs the higher net margin — 34.6% vs 17.6%, a 17.0% gap on every dollar of revenue. On growth, Atour Lifestyle Holdings Ltd posted the faster year-over-year revenue change (252.5% vs 10.6%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $210.7M).
Atour Lifestyle Holdings Ltd is a leading China-based hospitality and lifestyle enterprise. It operates a wide portfolio of mid-to-premium hotel brands for business and leisure travelers, and offers complementary lifestyle retail products and experience services, catering primarily to middle-class consumers across domestic and selected overseas markets.
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
ATAT vs MSCI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $789.6M | $822.5M |
| Net Profit | $139.1M | $284.7M |
| Gross Margin | — | — |
| Operating Margin | 22.5% | 56.4% |
| Net Margin | 17.6% | 34.6% |
| Revenue YoY | 252.5% | 10.6% |
| Net Profit YoY | 322.2% | -6.8% |
| EPS (diluted) | $0.33 | $3.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $822.5M | ||
| Q3 25 | $789.6M | $793.4M | ||
| Q2 25 | — | $772.7M | ||
| Q1 25 | — | $745.8M | ||
| Q4 24 | — | $743.5M | ||
| Q3 24 | $224.0M | $724.7M | ||
| Q2 24 | — | $707.9M | ||
| Q1 24 | $203.4M | $680.0M |
| Q4 25 | — | $284.7M | ||
| Q3 25 | $139.1M | $325.4M | ||
| Q2 25 | — | $303.6M | ||
| Q1 25 | — | $288.6M | ||
| Q4 24 | — | $305.5M | ||
| Q3 24 | $33.0M | $280.9M | ||
| Q2 24 | — | $266.8M | ||
| Q1 24 | $35.6M | $256.0M |
| Q4 25 | — | 56.4% | ||
| Q3 25 | 22.5% | 56.4% | ||
| Q2 25 | — | 55.0% | ||
| Q1 25 | — | 50.6% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | 14.7% | 55.4% | ||
| Q2 24 | — | 54.0% | ||
| Q1 24 | 22.1% | 49.9% |
| Q4 25 | — | 34.6% | ||
| Q3 25 | 17.6% | 41.0% | ||
| Q2 25 | — | 39.3% | ||
| Q1 25 | — | 38.7% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | 14.7% | 38.8% | ||
| Q2 24 | — | 37.7% | ||
| Q1 24 | 17.5% | 37.6% |
| Q4 25 | — | $3.81 | ||
| Q3 25 | $0.33 | $4.25 | ||
| Q2 25 | — | $3.92 | ||
| Q1 25 | — | $3.71 | ||
| Q4 24 | — | $3.89 | ||
| Q3 24 | $0.08 | $3.57 | ||
| Q2 24 | — | $3.37 | ||
| Q1 24 | $0.09 | $3.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $669.2M | $515.3M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $405.0M | $-2.7B |
| Total Assets | $1.1B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $515.3M | ||
| Q3 25 | $669.2M | $400.1M | ||
| Q2 25 | — | $347.3M | ||
| Q1 25 | — | $360.7M | ||
| Q4 24 | — | $409.4M | ||
| Q3 24 | $506.0M | $501.0M | ||
| Q2 24 | — | $451.4M | ||
| Q1 24 | $520.7M | $519.3M |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | $277.0K | $4.5B |
| Q4 25 | — | $-2.7B | ||
| Q3 25 | $405.0M | $-1.9B | ||
| Q2 25 | — | $-886.2M | ||
| Q1 25 | — | $-958.6M | ||
| Q4 24 | — | $-940.0M | ||
| Q3 24 | $291.3M | $-751.0M | ||
| Q2 24 | — | $-734.5M | ||
| Q1 24 | $323.5M | $-650.5M |
| Q4 25 | — | $5.7B | ||
| Q3 25 | $1.1B | $5.4B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | $927.8M | $5.4B | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | $936.3M | $5.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $216.6M | $501.1M |
| Free Cash FlowOCF − Capex | $210.7M | $488.7M |
| FCF MarginFCF / Revenue | 26.7% | 59.4% |
| Capex IntensityCapex / Revenue | 0.8% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.56× | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $359.6M | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $501.1M | ||
| Q3 25 | $216.6M | $449.4M | ||
| Q2 25 | — | $336.1M | ||
| Q1 25 | — | $301.7M | ||
| Q4 24 | — | $430.6M | ||
| Q3 24 | $84.8M | $421.6M | ||
| Q2 24 | — | $349.2M | ||
| Q1 24 | $19.8M | $300.1M |
| Q4 25 | — | $488.7M | ||
| Q3 25 | $210.7M | $445.5M | ||
| Q2 25 | — | $324.7M | ||
| Q1 25 | — | $290.2M | ||
| Q4 24 | — | $416.4M | ||
| Q3 24 | $83.3M | $415.0M | ||
| Q2 24 | — | $340.6M | ||
| Q1 24 | $18.1M | $295.9M |
| Q4 25 | — | 59.4% | ||
| Q3 25 | 26.7% | 56.2% | ||
| Q2 25 | — | 42.0% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | 37.2% | 57.3% | ||
| Q2 24 | — | 48.1% | ||
| Q1 24 | 8.9% | 43.5% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | 0.8% | 0.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 0.7% | 0.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 0.9% | 0.6% |
| Q4 25 | — | 1.76× | ||
| Q3 25 | 1.56× | 1.38× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | 2.57× | 1.50× | ||
| Q2 24 | — | 1.31× | ||
| Q1 24 | 0.56× | 1.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATAT
Segment breakdown not available.
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
