Atour Lifestyle Holdings Ltd ADR (ATAT) is undervalued and Wyndham Hotels & Resorts Inc (WH) is slightly overvalued.
Against our estimates of intrinsic value, ATAT trades at the wider discount: a margin of safety of +53%, against -16% for WH.
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 7.6% (average of 3 methods) values the shares at $58.51; the price of $67.86 is 16% above that value, and 80% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
| Metric | ATAT | WH |
|---|---|---|
| Verdict | Undervalued | Slightly overvalued |
| Price | $33.21 | $67.86 |
| Intrinsic value | $70.60 | $58.51 |
| Margin of safety | +53% | -16% |
| Leak Score | 100/100 (3/12) | 14/100 (3/12) |
| Market cap | $3.7B | $5.0B |
| Revenue growth, 5 years | 43.1% | 1.8% |
| Operating margin | 21.2% | 38.1% |
| Net margin | 16.8% | 14.7% |
| Return on equity | 58.8% | 39.6% |
| Debt to equity | 0.38 | 5.57 |
| P/E | 16.4x | 24.8x |
| Forward P/E | 11.8x | 12.8x |
| P/B | 9.2x | 10.5x |
| Dividend yield | 2.5% | 2.5% |