Atour Lifestyle Holdings Ltd ADR (ATAT) is undervalued and Hyatt Hotels Corp (H) is overvalued.
Against our estimates of intrinsic value, ATAT trades at the wider discount: a margin of safety of +53%, against -270% for H.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.6% (average of 3 methods) values the shares at $70.60; the price of $33.21 is 53% below that value, and 79% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
Discounting its cash flows at 9.9% (average of 3 methods) values the shares at $42.64; the price of $157.80 is 270% above that value, and 75% of that value comes from beyond year five.
Leak Score 0/100 on 3 of 12 signals
| Metric | ATAT | H |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $33.21 | $157.80 |
| Intrinsic value | $70.60 | $42.64 |
| Margin of safety | +53% | -270% |
| Leak Score | 100/100 (3/12) | 0/100 (3/12) |
| Market cap | $3.7B | $14.9B |
| Revenue growth, 5 years | 43.1% | 27.7% |
| Operating margin | 21.2% | 7.5% |
| Net margin | 16.8% | 1.1% |
| Return on equity | 58.8% | 2.3% |
| Debt to equity | 0.38 | 1.36 |
| P/E | 16.4x | 195.7x |
| Forward P/E | 11.8x | 32.5x |
| P/B | 9.2x | 4.5x |
| Dividend yield | 2.5% | 0.4% |