Operating performance remains inconsistent, with gross margins experiencing extreme variance from a low of 11.0% in 2024Q2 to a recent recovery of 70.0% in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Sales/Revenue | 3.97B | 3.96B | 3.95B | 4.17B | 4.01B | 4.12B | 3.17B | 4.14B | 4.13B | 4.21B | 4.25B | 4.38B | 4.44B | 4.13B | 3.99B | 3.84B |
| Revenue Growth % | 4.24% | 0.14% | -5.22% | 3.96% | -2.74% | 30.02% | -23.41% | 0.31% | -2.06% | -0.92% | -2.86% | -1.46% | 7.59% | 3.55% | 3.81% | - |
| Cost of Goods Sold | 1.18B | 3.6B | 1.15B | 3.45B | 3.33B | 3.39B | 2.83B | 3.47B | 3.46B | 3.52B | 3.56B | 3.63B | 3.7B | 3.46B | 3.32B | 1.23B |
| COGS % of Revenue | - | 91.11% | 29.06% | 82.75% | 83.17% | 82.25% | 89.4% | 83.76% | 83.85% | 83.44% | 83.68% | 82.97% | 83.36% | 83.69% | 83.18% | 31.92% |
| Gross Profit | 2.78B | 351.88M | 2.8B | 719.17M | 674.88M | 731.7M | 336M | 672.23M | 666.43M | 697.66M | 694.05M | 745.61M | 739.34M | 673.49M | 670.65M | 2.62B |
| Gross Margin % | 70.21% | 8.89% | 70.94% | 17.25% | 16.83% | 17.75% | 10.6% | 16.24% | 16.15% | 16.56% | 16.32% | 17.03% | 16.64% | 16.31% | 16.82% | 68.08% |
| Gross Profit Growth % | - | -87.44% | 289.7% | 6.56% | -7.77% | 117.77% | -50.02% | 0.87% | -4.48% | 0.52% | -6.91% | 0.85% | 9.78% | 0.42% | -74.36% | - |
| Operating Expenses | 2.75B | 189.27M | 2.66B | 436.4M | 368.8M | 422.74M | 510.97M | 481.13M | 484.31M | 499.24M | 461.82M | 478.01M | 495.29M | 433.02M | 481.95M | 2.4B |
| OpEx % of Revenue | - | 4.78% | 67.4% | 10.47% | 9.2% | 10.25% | 16.12% | 11.62% | 11.74% | 11.85% | 10.86% | 10.92% | 11.15% | 10.49% | 12.09% | 62.52% |
| Selling, General & Admin | 229.32M | 238.4M | 219.38M | 233.56M | 212.93M | 245.62M | 254.36M | 275.24M | 282.72M | 306.96M | 267.98M | 287.61M | 304.38M | 268.93M | 326.47M | 2.28B |
| SG&A % of Revenue | - | 6.03% | 5.55% | 5.6% | 5.31% | 5.96% | 8.02% | 6.65% | 6.85% | 7.29% | 6.3% | 6.57% | 6.85% | 6.51% | 8.19% | 59.23% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.8M | 3.9M | 5.2M | 6.5M | 5.8M | 6.4M | 7.3M | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | 0.09% | 0.09% | 0.12% | 0.15% | 0.13% | 0.15% | 0.18% | - |
| Other Operating Expenses | 4M | -49.12M | 2.44B | 202.84M | 155.86M | 177.13M | 256.62M | 205.9M | -11K | 14.91M | 1.61M | -939K | -1.24M | -246K | -128K | 126.47M |
| Operating Income | 44.57M | 162.61M | 139.81M | 282.77M | 306.08M | 308.96M | -174.97M | 191.09M | 145.25M | 146.09M | 127.61M | 230.93M | 191.96M | 225.36M | 181.14M | 213.45M |
| Operating Margin % | 1.12% | 4.11% | 3.54% | 6.78% | 7.63% | 7.49% | -5.52% | 4.62% | 3.52% | 3.47% | 3% | 5.28% | 4.32% | 5.46% | 4.54% | 5.56% |
| Operating Income Growth % | - | 16.31% | -50.56% | -7.62% | -0.93% | 276.57% | -191.57% | 31.56% | -0.57% | 14.49% | -44.74% | 20.3% | -14.82% | 24.41% | -15.14% | - |
| EBITDA | 224.6M | 340.29M | 315.39M | 452.04M | 455.98M | 472.35M | 5.29M | 387.9M | 346.85M | 338.37M | 321.44M | 421.32M | 382.88M | 389.45M | 336.62M | 367.14M |
| EBITDA Margin % | 5.66% | 8.6% | 7.98% | 10.85% | 11.37% | 11.46% | 0.17% | 9.37% | 8.41% | 8.03% | 7.56% | 9.62% | 8.62% | 9.43% | 8.44% | 9.56% |
| EBITDA Growth % | -22.6% | 7.9% | -30.23% | -0.87% | -3.46% | 8832.47% | -98.64% | 11.84% | 2.5% | 5.27% | -23.71% | 10.04% | -1.69% | 15.69% | -8.31% | - |
| D&A (Non-Cash Add-back) | 180.03M | 177.68M | 175.58M | 169.27M | 149.9M | 163.39M | 180.26M | 196.81M | 201.59M | 192.28M | 193.84M | 190.4M | 190.91M | 164.09M | 155.48M | 153.69M |
| EBIT | 49.38M | 32.42M | 3.79M | 282.77M | 180.77M | 306.88M | -175.08M | 190.95M | 145.24M | 152.53M | 98.36M | 227.03M | 179.63M | 240.87M | 160.05M | 214.28M |
| Net Interest Income | -46.58M | -45.35M | -62.59M | -52.17M | -53.36M | -57.59M | -64.44M | -49.26M | -44.94M | -41.39M | -45.73M | -56.18M | -59.66M | -74.77M | -86.64M | -83.39M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 46.58M | 45.35M | 62.59M | 52.17M | 53.36M | 57.59M | 64.44M | 49.26M | 44.94M | 41.39M | 45.73M | 56.18M | 59.66M | 74.77M | 86.64M | 83.39M |
| Other Income/Expense | -49.29M | -175.54M | -198.62M | -51.58M | -178.68M | -59.66M | -64.55M | -49.4M | -44.95M | -27.55M | -67.26M | -60.07M | -71.99M | -53M | -112.08M | -82.56M |
| Pretax Income | -4.54M | -12.93M | -58.81M | 231.19M | 127.4M | 249.3M | -239.52M | 141.69M | 100.31M | 118.54M | 56.49M | 170.85M | 119.97M | 172.36M | 73.41M | 130.9M |
| Pretax Margin % | -0.11% | -0.33% | -1.49% | 5.55% | 3.18% | 6.05% | -7.55% | 3.42% | 2.43% | 2.81% | 1.33% | 3.9% | 2.7% | 4.17% | 1.84% | 3.41% |
| Income Tax | -28.81M | -26.7M | -12.13M | 18.4M | 34.25M | 26.38M | -80.73M | 7.57M | -9.23M | 15.98M | 10.14M | 39.29M | 24.04M | -42.21M | 12.11M | 21.72M |
| Effective Tax Rate % | 634.39% | 206.44% | 20.63% | 7.96% | 26.89% | 10.58% | 33.7% | 5.34% | -9.2% | 13.48% | 17.96% | 23% | 20.04% | -24.49% | 16.49% | 16.59% |
| Net Income | 21.74M | 5.38M | -128.02M | 247.39M | 101.91M | 215.56M | -158.72M | 130.57M | 107.1M | 100.24M | 41.75M | 127.33M | 91.09M | 208.37M | 49.97M | 100M |
| Net Margin % | 0.55% | 0.14% | -3.24% | 5.94% | 2.54% | 5.23% | -5.01% | 3.15% | 2.6% | 2.38% | 0.98% | 2.91% | 2.05% | 5.05% | 1.25% | 2.6% |
| Net Income Growth % | 1190.22% | 104.2% | -151.75% | 142.76% | -52.72% | 235.81% | -221.55% | 21.92% | 6.84% | 140.11% | -67.21% | 39.78% | -56.28% | 316.98% | -50.03% | - |
| Net Income (Continuing) | 24.09M | 13.77M | -46.67M | 212.78M | 93.15M | 222.91M | -158.79M | 134.12M | 109.54M | 103.61M | 46.35M | 131.56M | 95.93M | 214.57M | 61.3M | 109.18M |
| Discontinued Operations | 840K | -3.39M | -75.98M | 41.63M | 16.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 3.24M | 3.56M | 3.94M | 2.88M | 2.54M | 6.39M | 6.81M | 7.14M | 9.09M | 10.89M | 12.65M | 13.57M | 5.1M | 4.33M | 5.92M | 9.45M |
| EPS (Diluted) | 0.25 | 0.06 | -1.49 | 2.56 | 1.03 | 2.00 | -1.82 | 1.45 | 1.14 | 1.02 | 0.34 | 1.01 | 0.71 | 1.63 | 0.44 | 0.93 |
| EPS Growth % | 728.14% | 104.23% | -158.2% | 148.54% | -48.5% | 209.89% | -225.52% | 27.19% | 11.76% | 200% | -66.34% | 42.25% | -56.44% | 270.45% | -52.69% | - |
| EPS (Basic) | - | 0.06 | -1.49 | 2.84 | 1.15 | 2.42 | -1.82 | 1.47 | 1.16 | 1.05 | 0.35 | 1.04 | 0.73 | 1.69 | 0.45 | 0.94 |
| Diluted Shares Outstanding | 85.75M | 85.21M | 85.91M | 96.45M | 98.51M | 107.8M | 87.47M | 89.78M | 94.08M | 99.71M | 114.31M | 125.58M | 128.32M | 128.07M | 114.82M | 107.25M |
| Basic Shares Outstanding | 85.28M | 85.21M | 85.91M | 87.23M | 88.85M | 88.98M | 87.47M | 88.84M | 92.04M | 96.36M | 111.38M | 122.35M | 125.14M | 122.97M | 112M | 106.36M |
| Dividend Payout Ratio | - | 711.26% | - | 33.85% | 48.81% | - | - | 27.37% | 31.1% | 30.91% | 75.16% | 23.04% | - | - | - | - |
High Debt Service Burden
As evidenced by the quarterly data, BLMN's revenue trajectory exhibits significant instability, oscillating between a 50% contraction in 2024Q4 and a 63.2% surge in 2025Q4, suggesting that the company's top-line performance is heavily influenced by non-recurring items or extreme shifts in consumer demand patterns.
The erratic revenue swings indicate that the underlying business lacks a consistent organic growth engine, making it difficult to forecast future performance. Investors should monitor whether these fluctuations are driven by structural changes in the portfolio or merely transient accounting adjustments that mask underlying demand trends.
According to the provided financial statements, BLMN's gross margin has experienced extreme variance, plummeting from 17.6% in 2023Q4 to as low as 11.0% in 2024Q2, before showing a recent recovery to 70.0% in 2026Q1, which suggests significant inconsistencies in cost accounting or commodity management.
This dramatic shift in reported gross margins implies that the company's cost structure is either highly sensitive to external commodity shocks or that management is reclassifying expenses between COGS and operating lines. Such volatility complicates peer benchmarking and raises questions regarding the sustainability of current profitability levels.
Based on reported figures, BLMN's operating income has struggled to scale, frequently dipping into negative territory, such as the -$36.4M loss in 2025Q3, which highlights a lack of operational efficiency and an inability to leverage fixed costs effectively during periods of revenue stagnation.
The inability to maintain consistent positive operating margins suggests that the company's cost base is too rigid to adapt to fluctuating guest traffic. This lack of operating leverage leaves the firm highly exposed to any further deterioration in top-line performance, as there is little room for margin expansion.
As indicated by the historical income statement data, BLMN's net income is frequently impacted by large, non-operating swings, such as the -$83.9M net loss in 2024Q1, which suggests that the company's bottom-line results are often disconnected from core operational performance and subject to significant volatility.
Short-sellers would likely focus on the recurring nature of these bottom-line losses and the high debt-to-equity ratio, which threatens to consume any potential operational gains. The inconsistency in net income suggests that investors should be wary of relying on EPS as a primary indicator of long-term value creation.
Quick answers to the most common questions about buying BLMN stock.
For fiscal year 2025, Bloomin' Brands, Inc. (BLMN) reported total revenue of $3.96B. This represents a 3.0% increase compared to $3.84B in 2011.
Bloomin' Brands, Inc. (BLMN) is profitable, generating $5.4M in net income for the fiscal year ending 2025 with a net profit margin of 0.1%.
Bloomin' Brands, Inc. (BLMN) reported an operating income of $162.6M, resulting in an operating profit margin of 4.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Bloomin' Brands, Inc. (BLMN) generated $351.9M in gross profit for the year, representing a gross profit margin of 8.9%. This demonstrates the company's core pricing power and production efficiency.