Latest Ratios: P/E Ratio 18.6x · EV/EBITDA 12.3x · ROE 119.6%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.7B | $7.6B | $8.1B | $3.3B | $1.6B | $1.0B | $2.9B | $915M | $1.5B | $2.2B | $2.0B |
| Enterprise Value | $10.3B | $9.2B | $9.8B | $5.3B | $3.8B | $3.3B | $4.9B | $3.3B | $2.8B | $3.7B | $3.3B |
| P/E Ratio → | 18.58 | 15.63 | 21.23 | 21.43 | 15.88 | 8.69 | 21.93 | 37.35 | 9.94 | 17.50 | 12.96 |
| P/S Ratio | 1.49 | 1.31 | 1.51 | 0.75 | 0.39 | 0.27 | 0.86 | 0.30 | 0.48 | 0.70 | 0.62 |
| P/B Ratio | 20.40 | 17.15 | 21.96 | 84.52 | — | — | — | — | — | — | — |
| P/FCF | 15.54 | 13.65 | 19.69 | 14.93 | 22.82 | 10.03 | 10.45 | 6.51 | 34.11 | 12.03 | 9.19 |
| P/OCF | 10.97 | 9.64 | 11.99 | 7.89 | 6.36 | 4.05 | 7.80 | 3.74 | 7.23 | 7.75 | 6.24 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.59 | 1.82 | 1.19 | 0.91 | 0.86 | 1.47 | 1.06 | 0.86 | 1.18 | 1.04 |
| EV / EBITDA | 12.26 | 11.00 | 13.66 | 13.15 | 12.06 | 10.13 | 14.03 | 14.54 | 7.28 | 9.80 | — |
| EV / EBIT | 16.58 | 14.84 | 19.14 | 22.90 | 25.91 | 20.34 | 24.34 | 50.71 | 11.80 | 16.14 | 12.68 |
| EV / FCF | — | 16.55 | 23.73 | 23.61 | 52.86 | 32.20 | 17.78 | 23.28 | 61.06 | 20.20 | 15.40 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.6% | 18.6% | 18.2% | 14.2% | 12.1% | 13.1% | 15.1% | 13.3% | 16.2% | 17.5% | 18.0% |
| Operating Margin | 10.7% | 10.7% | 9.5% | 5.2% | 3.5% | 4.2% | 6.0% | 2.0% | 7.2% | 7.2% | -8.1% |
| Net Profit Margin | 8.4% | 8.4% | 7.1% | 3.5% | 2.5% | 3.1% | 3.9% | 0.8% | 4.8% | 4.0% | 4.8% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 119.6% | 119.6% | 186.7% | 394.2% | — | — | — | — | — | — | — |
| ROA | 17.7% | 17.7% | 14.5% | 6.1% | 4.1% | 4.9% | 5.7% | 1.4% | 11.9% | 9.2% | 10.5% |
| ROIC | 22.7% | 22.7% | 19.1% | 8.7% | 5.4% | 6.5% | 8.3% | 4.1% | 28.5% | 21.1% | -22.8% |
| ROCE | 29.9% | 29.9% | 25.8% | 11.7% | 7.4% | 8.8% | 11.2% | 4.6% | 26.4% | 24.0% | -25.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.64 | 3.64 | 4.57 | 50.74 | — | — | — | — | — | — | — |
| Debt / EBITDA | 1.92 | 1.92 | 2.36 | 4.99 | 6.91 | 7.02 | 5.85 | 10.67 | 3.25 | 3.99 | — |
| Net Debt / Equity | — | 3.64 | 4.51 | 49.10 | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 1.92 | 1.92 | 2.33 | 4.83 | 6.86 | 6.98 | 5.78 | 10.47 | 3.21 | 3.96 | — |
| Debt / FCF | — | 2.90 | 4.05 | 8.67 | 30.05 | 22.18 | 7.33 | 16.77 | 26.95 | 8.17 | 6.21 |
| Interest Coverage | 15.34 | 15.34 | 9.66 | 3.54 | 2.65 | 3.50 | 3.58 | 1.08 | 3.79 | 3.89 | 5.21 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.45 | 0.45 | 0.31 | 0.38 | 0.34 | 0.36 | 0.36 | 0.45 | 0.42 | 0.36 | 0.33 |
| Quick Ratio | 0.45 | 0.45 | 0.17 | 0.23 | 0.17 | 0.20 | 0.22 | 0.29 | 0.25 | 0.20 | 0.17 |
| Cash Ratio | — | — | 0.03 | 0.10 | 0.03 | 0.02 | 0.04 | 0.09 | 0.03 | 0.03 | 0.02 |
| Asset Turnover | — | 2.06 | 2.01 | 1.70 | 1.66 | 1.53 | 1.47 | 1.31 | 2.56 | 2.33 | 2.24 |
| Inventory Turnover | — | — | 48.85 | 42.90 | 40.32 | 36.28 | 34.78 | 33.84 | 38.34 | 36.49 | 36.18 |
| Days Sales Outstanding | — | — | 4.98 | 5.01 | 5.38 | 6.80 | 9.64 | 10.40 | 7.89 | 6.25 | 5.17 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 0.0% | 0.0% | 0.1% | 0.1% | 6.3% | 3.9% | 3.2% | 3.6% |
| Payout Ratio | — | — | — | 0.1% | 0.6% | 0.9% | 1.1% | 235.2% | 38.9% | 55.6% | 46.9% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.4% | 6.4% | 4.7% | 4.7% | 6.3% | 11.5% | 4.6% | 2.7% | 10.1% | 5.7% | 7.7% |
| FCF Yield | 6.4% | 7.3% | 5.1% | 6.7% | 4.4% | 10.0% | 9.6% | 15.3% | 2.9% | 8.3% | 10.9% |
| Buyback Yield | 5.1% | 5.8% | 1.1% | 0.8% | 0.3% | 9.9% | 0.1% | 3.5% | 10.9% | 13.8% | 19.0% |
| Total Shareholder Yield | 5.1% | 5.8% | 1.1% | 0.8% | 0.3% | 10.0% | 0.2% | 9.8% | 14.8% | 16.9% | 22.6% |
| Shares Outstanding | — | $45M | $46M | $46M | $45M | $46M | $47M | $39M | $39M | $46M | $51M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying EAT stock.
Brinker International, Inc.'s current P/E ratio is 18.6x. The historical average is 19.2x. This places it at the 53th percentile of its historical range.
Brinker International, Inc.'s current EV/EBITDA is 12.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.4x.
Brinker International, Inc.'s return on equity (ROE) is 119.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 57.0%.
Based on historical data, Brinker International, Inc. is trading at a P/E of 18.6x. This is at the 53th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Brinker International, Inc. has 18.6% gross margin and 10.7% operating margin. Operating margin between 10-20% is typical for established companies.
Brinker International, Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Leverage amplifies margin volatility
Metrics are mathematically derived from official filings.
Valuation Reflects Recovery, Not Full Re-Rating
Brinker's forward P/E of 21.39 and EV/EBITDA of 14.67 suggest the market is pricing in continued recovery but not assigning a premium for its operational turnaround, especially when compared to higher-multiple peers like Texas Roadhouse.
The current valuation multiples appear to be in a transitional phase. The PEG ratio of 0.68 indicates the market may be underappreciating the earnings growth potential implied by the recent operational surge, but the P/B of 23.24 is exceptionally high, likely reflecting the low equity base from prior losses rather than superior asset efficiency. Compared to Darden's P/E of 20.76 and Texas Roadhouse's 32.62, Brinker trades at a discount to the latter, which may signal lingering skepticism about the sustainability of its traffic-driven growth versus a more consistent operator.
Margin Volatility Obscures Core Earning Power
The reported gross margin has swung wildly from 14.3% to 74.5% over ten quarters, indicating significant accounting noise that makes the stable operating margin of 8.7%-11.6% a more reliable indicator of underlying profitability.
The extreme volatility in gross margin, including a negative reading in 2026Q4, suggests the presence of non-recurring items, promotional accounting, or cost allocation shifts that obscure the true cost of goods sold. Investors should focus on the operating margin, which has shown a more consistent upward trend from 5.0% to 11.6%, as it better reflects the company's ability to convert revenue into profit after accounting for its high fixed-cost structure. The net margin's expansion from 3.4% to 8.8% confirms the operational leverage, but its sustainability depends on controlling labor and commodity inflation.
ROE Amplified by Leverage, Not Capital Efficiency
Brinker's ROE has surged to 30.9% from a negative base, but this is primarily driven by extreme financial leverage (D/E of 3.96) rather than superior operational returns, as evidenced by a modest ROIC of 5.9%.
The dramatic improvement in ROE from negative territory is a direct result of the operational turnaround and the resulting equity rebuild from retained earnings. However, the ROIC of 5.9% is significantly lower than peers like Darden (14.5%) and Texas Roadhouse (14.5%), indicating that Brinker's capital efficiency is lagging. This disconnect suggests the high ROE is a function of the company's leveraged capital structure, not its ability to generate superior returns on invested capital, which remains a key area for improvement.
High Leverage Persists Despite Equity Rebuild
Despite a dramatic equity recovery to $443.7M, Brinker's Debt/Equity ratio remains elevated at 3.96, indicating that the company's capital structure is still heavily reliant on debt, which may limit strategic flexibility.
The leverage profile has improved from extreme levels (D/E of 158.19 in 2025Q1) but remains high relative to the industry. The interest coverage ratio of 19.39 suggests debt service is currently comfortable, but this is highly sensitive to operating income volatility. The combination of high leverage and a low current ratio of 0.45 indicates that the balance sheet remains strained, and any sustained operational slowdown could quickly pressure liquidity and refinancing capacity.
The Misleading Power of ROE in a Leveraged Recovery
The most commonly misapplied ratio for Brinker is its ROE, which at 30.9% appears strong but is almost entirely a function of extreme financial leverage and a low equity base, not superior operational performance.
Investors often use ROE as a primary measure of management effectiveness, but for Brinker, it is a distorted signal. The company's ROIC of 5.9% is a far better indicator of true capital efficiency and reveals that the business is not generating returns significantly above its cost of capital. The high ROE is a mathematical artifact of the company's recovery from negative equity and its continued reliance on debt financing. Therefore, analysts should prioritize ROIC and operating margin trends over ROE when evaluating Brinker's fundamental performance.