Revenue growth remains under pressure with a 3.6% decline in 2026Q1, while gross margins exhibit extreme volatility, dropping to as low as 10.3% in 2024Q3.
| 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 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Sales/Revenue | 1.2B | 1.21B | 1.25B | 1.3B | 1.27B | 1.16B | 868.72M | 1.32B | 1.34B | 1.38B | 1.3B | 1.26B | 1.15B | 1.02B | 977.13M | 914.85M | 864.27M | 841.04M | 869.22M | 763.47M | 618.72M | 486.02M | 409.06M | 328.61M | 374.41M | 224.48M | 189.17M | 130.01M | 118.22M |
| Revenue Growth % | -4.49% | -3.07% | -4.18% | 2.96% | 8.94% | 33.72% | -33.94% | -1.76% | -3.07% | 6.52% | 3.09% | 9.73% | 12.67% | 4.11% | 6.81% | 5.85% | 2.76% | -3.24% | 13.85% | 23.4% | 27.3% | 18.81% | 24.48% | -12.23% | 66.79% | 18.67% | 45.5% | 9.98% | - |
| Cost of Goods Sold | 954.59M | 387.84M | 395.75M | 885.26M | 845.94M | 767.28M | 630.84M | 871.98M | 883.91M | 908.54M | 844.89M | 808.16M | 746.61M | 659.43M | 636.71M | 720.59M | 695.71M | 671.78M | 203.46M | 594.54M | 475.37M | 211.02M | 150.44M | 257.77M | 213.64M | 173.78M | 43.9M | 30.16M | 27.68M |
| COGS % of Revenue | - | 32.05% | 31.7% | 67.94% | 66.84% | 66.05% | 72.62% | 66.31% | 66.03% | 65.79% | 65.17% | 64.26% | 65.14% | 64.82% | 65.16% | 78.77% | 80.5% | 79.87% | 23.41% | 77.87% | 76.83% | 43.42% | 36.78% | 78.44% | 57.06% | 77.41% | 23.2% | 23.2% | 23.41% |
| Gross Profit | 241.55M | 822.38M | 852.81M | 417.79M | 419.59M | 394.36M | 237.88M | 443.03M | 454.65M | 472.39M | 451.55M | 449.43M | 399.49M | 357.82M | 340.42M | 194.26M | 168.56M | 169.27M | 665.75M | 168.93M | 143.35M | 275.01M | 258.63M | 70.84M | 160.77M | 50.7M | 145.27M | 99.85M | 90.54M |
| Gross Margin % | 20.19% | 67.95% | 68.3% | 32.06% | 33.16% | 33.95% | 27.38% | 33.69% | 33.97% | 34.21% | 34.83% | 35.74% | 34.86% | 35.18% | 34.84% | 21.23% | 19.5% | 20.13% | 76.59% | 22.13% | 23.17% | 56.58% | 63.22% | 21.56% | 42.94% | 22.59% | 76.8% | 76.8% | 76.59% |
| Gross Profit Growth % | - | -3.57% | 104.13% | -0.43% | 6.4% | 65.78% | -46.31% | -2.56% | -3.75% | 4.61% | 0.47% | 12.5% | 11.65% | 5.11% | 75.24% | 15.25% | -0.42% | -74.58% | 294.1% | 17.84% | -47.87% | 6.33% | 265.08% | -55.94% | 217.1% | -65.1% | 45.49% | 10.29% | - |
| Operating Expenses | 242.33M | 819.59M | 905.89M | 413.24M | 477.09M | 431.49M | 513.03M | 456.16M | 426M | 426.44M | 405.56M | 381.81M | 345.97M | 312.49M | 295.21M | 161.92M | 152.71M | 141.32M | 622.47M | 114.54M | 95.5M | 230.72M | 221.01M | 44.16M | 138.71M | 31.96M | 180.46M | 122.87M | 111.24M |
| OpEx % of Revenue | - | 67.72% | 72.55% | 31.71% | 37.7% | 37.15% | 59.06% | 34.69% | 31.83% | 30.88% | 31.28% | 30.36% | 30.19% | 30.72% | 30.21% | 17.7% | 17.67% | 16.8% | 71.61% | 15% | 15.44% | 47.47% | 54.03% | 13.44% | 37.05% | 14.24% | 95.39% | 94.5% | 94.1% |
| Selling, General & Admin | 107.56M | 107.58M | 118.44M | 124.13M | 136.61M | 122.74M | 109.33M | 160.22M | 146.46M | 150.02M | 136.86M | 143.08M | 132.16M | 124.28M | 110.8M | 103.12M | 92.96M | 80.46M | 64.4M | 65.16M | 56.65M | 198.41M | 195.88M | 25.19M | 22.24M | 17.77M | 16.99M | 13.43M | 13.58M |
| SG&A % of Revenue | - | 8.89% | 9.49% | 9.53% | 10.79% | 10.57% | 12.58% | 12.18% | 10.94% | 10.86% | 10.56% | 11.38% | 11.53% | 12.22% | 11.34% | 11.27% | 10.76% | 9.57% | 7.41% | 8.53% | 9.16% | 40.82% | 47.88% | 7.66% | 5.94% | 7.91% | 8.98% | 10.33% | 11.49% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.6M | 0 | 0 | 4.14M | 4.12M | 4.2M | 4.6M | 4.07M | 4.99M | 4.65M | 4.06M | 2.85M | 3.26M | 3.7M | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | 0.66% | - | - | 0.45% | 0.48% | 0.5% | 0.53% | 0.53% | 0.81% | 0.96% | 0.99% | 0.87% | 0.87% | 1.65% | - | - | - |
| Other Operating Expenses | 2.74M | 712.01M | 787.45M | 289.11M | 340.48M | 308.75M | 403.7M | 295.94M | -39.13M | -6.91M | 268.7M | 238.73M | 213.81M | 188.21M | 229K | -90K | 46K | 380K | 553.47M | 45.31M | 33.87M | 27.66M | 21.07M | 16.13M | 113.22M | 10.49M | 163.47M | 109.43M | 97.66M |
| Operating Income | -784K | 2.79M | -53.08M | 4.54M | -57.5M | -37.14M | -275.15M | -13.13M | -10.48M | 39.03M | 11.57M | 67.05M | 44.68M | 43.81M | 45.21M | 28M | 9.73M | 27.94M | 45.19M | 52.57M | 47.85M | 44.29M | 37.62M | 26.68M | 22.06M | 18.74M | 8.71M | 7.14M | 6.98M |
| Operating Margin % | -0.07% | 0.23% | -4.25% | 0.35% | -4.54% | -3.2% | -31.67% | -1% | -0.78% | 2.83% | 0.89% | 5.33% | 3.9% | 4.31% | 4.63% | 3.06% | 1.13% | 3.32% | 5.2% | 6.89% | 7.73% | 9.11% | 9.2% | 8.12% | 5.89% | 8.35% | 4.61% | 5.5% | 5.9% |
| Operating Income Growth % | - | 105.26% | -1268.67% | 107.9% | -54.82% | 86.5% | -1996.03% | -25.2% | -126.86% | 237.36% | -82.74% | 50.04% | 1.99% | -3.09% | 61.45% | 187.69% | -65.17% | -38.17% | -14.04% | 9.87% | 8.03% | 17.74% | 40.99% | 20.94% | 17.71% | 115.04% | 21.97% | 2.39% | - |
| EBITDA | 50.16M | 53.91M | 4.65M | 70.73M | 18.75M | 46.3M | -187.59M | 78.66M | 84.89M | 131.58M | 98.27M | 144.42M | 109.26M | 102.01M | 100.68M | 83.27M | 66.47M | 85.11M | 96.88M | 96.62M | 82.03M | 70.92M | 59.31M | 43.38M | 35.38M | 29.23M | 17.18M | 12.54M | 11.99M |
| EBITDA Margin % | 4.19% | 4.45% | 0.37% | 5.43% | 1.48% | 3.99% | -21.59% | 5.98% | 6.34% | 9.53% | 7.58% | 11.48% | 9.53% | 10.03% | 10.3% | 9.1% | 7.69% | 10.12% | 11.15% | 12.65% | 13.26% | 14.59% | 14.5% | 13.2% | 9.45% | 13.02% | 9.08% | 9.64% | 10.14% |
| EBITDA Growth % | 282.85% | 1059.85% | -93.43% | 277.28% | -59.51% | 124.68% | -338.47% | -7.33% | -35.49% | 33.9% | -31.96% | 32.18% | 7.11% | 1.33% | 20.9% | 25.28% | -21.9% | -12.15% | 0.27% | 17.79% | 15.66% | 19.58% | 36.73% | 22.6% | 21.04% | 70.19% | 36.98% | 4.61% | - |
| D&A (Non-Cash Add-back) | 50.95M | 51.12M | 57.73M | 66.19M | 76.25M | 83.44M | 87.56M | 91.79M | 95.37M | 92.55M | 86.69M | 77.37M | 64.58M | 58.2M | 55.47M | 55.27M | 56.74M | 57.17M | 51.69M | 44.05M | 34.18M | 26.63M | 21.7M | 16.7M | 13.32M | 10.49M | 8.46M | 5.39M | 5.01M |
| EBIT | -908K | 2.93M | -52.35M | 5.64M | -57.49M | -36.42M | -273.39M | -12.06M | -10.48M | 45.95M | 12.03M | 67.05M | 44.9M | 43.94M | 42.52M | 28M | 9.84M | 28.43M | 45.5M | 52.93M | 47.85M | 44.29M | 38.11M | 26.21M | 21.56M | 18.74M | -35.18M | -23.01M | -20.7M |
| Net Interest Income | -25.58M | -25.96M | -24.55M | -25.46M | -20.64M | -13.46M | -8.41M | -9.11M | -10.93M | -10.01M | -6.78M | -3.81M | -2.83M | -2.56M | -5.43M | -5.91M | -5M | -6.79M | -8.24M | -9.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 136K | 0 | 727K | 1.1M | 0 | 719K | 1.76M | 1.07M | 0 | 943K | 457K | 0 | 220K | 127K | 229K | 62K | 63K | 0 | 320K | 398K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 25.72M | 25.96M | 25.28M | 26.56M | 20.64M | 14.18M | 10.16M | 10.18M | 10.93M | 10.96M | 7.24M | 3.81M | 3.04M | 2.69M | 5.66M | 5.88M | 5.11M | 6.79M | 8.56M | 14.61M | 0 | 0 | 0 | 3.12M | 0 | 7.48M | 0 | 0 | 0 |
| Other Income/Expense | -25.64M | -25.82M | -24.55M | -25.46M | -20.64M | -13.46M | -8.41M | -9.11M | -10.93M | -10.01M | -6.78M | -3.81M | -2.83M | -2.56M | -8.35M | -5.91M | -5M | -6.41M | -8.25M | -9.27M | -5.55M | -3.05M | -2.22M | -2.88M | -9.81M | -7.29M | -5.76M | -4.36M | -4.77M |
| Pretax Income | -26.42M | -23.03M | -77.63M | -20.92M | -78.14M | -50.59M | -283.55M | -22.24M | -21.41M | 29.02M | 4.79M | 63.24M | 41.86M | 41.25M | 36.86M | 22.09M | 4.73M | 21.53M | 36.94M | 43.3M | 42.3M | 41.24M | 35.4M | 23.8M | 12.34M | 11.45M | 2.96M | 2.78M | 2.21M |
| Pretax Margin % | -2.21% | -1.9% | -6.22% | -1.61% | -6.17% | -4.36% | -32.64% | -1.69% | -1.6% | 2.1% | 0.37% | 5.03% | 3.65% | 4.06% | 3.77% | 2.41% | 0.55% | 2.56% | 4.25% | 5.67% | 6.84% | 8.49% | 8.65% | 7.24% | 3.3% | 5.1% | 1.56% | 2.14% | 1.87% |
| Income Tax | 290K | 258K | -90K | 310K | 747K | -152K | -7.48M | -14.33M | -14.99M | -999K | -6.94M | 15.53M | 9.3M | 9.01M | 8.53M | 1.51M | -2.57M | 3.93M | 9.81M | 12.65M | 12.94M | 13.86M | 12.02M | 8.07M | 4.08M | 3.72M | -50.66M | -1.6M | -33K |
| Effective Tax Rate % | -1.1% | -1.12% | 0.12% | -1.48% | -0.96% | 0.3% | 2.64% | 64.46% | 70.02% | -3.44% | -144.88% | 24.56% | 22.21% | 21.84% | 23.13% | 6.84% | -54.31% | 18.25% | 26.57% | 29.21% | 30.58% | 33.6% | 33.95% | 33.9% | 33.06% | 32.52% | -1713.84% | -57.33% | -1.5% |
| Net Income | -26.71M | -23.28M | -77.54M | -21.23M | -78.88M | -50.44M | -276.07M | -7.9M | -6.42M | 30.02M | 11.72M | 47.7M | 32.56M | 32.24M | 28.33M | 20.58M | 7.3M | 17.6M | 27.13M | 30.65M | 29.36M | 27.39M | 23.38M | 15.73M | 8.26M | 7.72M | 15.48M | 4.38M | 2.24M |
| Net Margin % | -2.23% | -1.92% | -6.21% | -1.63% | -6.23% | -4.34% | -31.78% | -0.6% | -0.48% | 2.17% | 0.9% | 3.79% | 2.84% | 3.17% | 2.9% | 2.25% | 0.84% | 2.09% | 3.12% | 4.01% | 4.75% | 5.63% | 5.72% | 4.79% | 2.21% | 3.44% | 8.18% | 3.37% | 1.89% |
| Net Income Growth % | 60.03% | 69.97% | -265.28% | 73.09% | -56.38% | 81.73% | -3393.21% | -23.12% | -121.38% | 156.03% | -75.42% | 46.51% | 1% | 13.79% | 37.68% | 181.92% | -58.53% | -35.12% | -11.5% | 4.39% | 7.22% | 17.13% | 48.6% | 90.41% | 6.98% | -50.1% | 253.42% | 95.71% | - |
| Net Income (Continuing) | -26.71M | -23.28M | -77.54M | -21.23M | -78.88M | -50.44M | -276.07M | -7.9M | -6.42M | 30.02M | 11.72M | 47.7M | 32.56M | 32.24M | 28.33M | 20.58M | 7.3M | 17.6M | 27.13M | 30.65M | 29.36M | 27.39M | 23.38M | 15.45M | 7.89M | 7.72M | 15.48M | 4.38M | 2.24M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.47 | -1.31 | -4.93 | -1.34 | -4.98 | -3.19 | -19.29 | -0.61 | -0.49 | 2.31 | 0.87 | 3.36 | 2.25 | 2.22 | 1.93 | 1.34 | 0.46 | 1.14 | 1.69 | 1.82 | 1.75 | 1.64 | 1.43 | 1.00 | 0.62 | 0.76 | 2.08 | 1.47 | 0.78 |
| EPS Growth % | 64.47% | 73.43% | -267.91% | 73.09% | -56.11% | 83.46% | -3062.3% | -24.49% | -121.21% | 165.52% | -74.11% | 49.33% | 1.35% | 15.03% | 44.03% | 191.3% | -59.65% | -32.54% | -7.14% | 4% | 6.71% | 14.69% | 43% | 61.29% | -18.42% | -63.46% | 41.5% | 88.46% | - |
| EPS (Basic) | - | -1.31 | -4.93 | -1.34 | -4.98 | -3.19 | -19.29 | -0.61 | -0.49 | 2.33 | 0.88 | 3.40 | 2.29 | 2.27 | 1.97 | 1.36 | 0.47 | 1.14 | 1.70 | 1.84 | 1.78 | 1.68 | 1.46 | 1.02 | 0.64 | 0.77 | 2.08 | 1.47 | 0.78 |
| Diluted Shares Outstanding | 18.12M | 17.79M | 15.74M | 15.84M | 15.84M | 15.66M | 14.31M | 12.96M | 12.98M | 13M | 13.46M | 14.22M | 14.45M | 14.51M | 14.67M | 15.36M | 15.71M | 15.5M | 16.05M | 16.82M | 16.74M | 16.66M | 16.41M | 15.46M | 12.66M | 10.24M | 7.44M | 2.97M | 2.9M |
| Basic Shares Outstanding | 18.12M | 17.79M | 15.74M | 15.84M | 15.84M | 15.66M | 14.31M | 12.96M | 12.98M | 12.9M | 13.33M | 14.04M | 14.24M | 14.22M | 14.41M | 15.12M | 15.54M | 15.39M | 15.93M | 16.65M | 16.54M | 16.29M | 16.02M | 15.18M | 12.28M | 10.09M | 7.44M | 2.97M | 2.9M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and margin compression
As reported in recent financial filings, Red Robin's top-line performance remains under pressure, with quarterly revenue growth frequently dipping into negative territory, including a -3.6% decline in 2026Q1, suggesting that the company is struggling to maintain guest frequency in a highly competitive casual dining environment.
The consistent inability to achieve positive year-over-year revenue growth indicates that the brand's value proposition may be losing resonance with its core demographic. Investors should monitor whether this contraction is a result of intentional unit closures or a broader, more concerning decline in same-store sales performance.
Based on historical income statement data, Red Robin exhibits extreme quarterly fluctuations in gross margins, which plummeted to as low as 10.3% in 2024Q3, highlighting the company's vulnerability to commodity price spikes and the operational burden of its signature unlimited side-dish model during inflationary periods.
The wide variance in gross margins suggests that the company lacks the pricing power necessary to pass through rising food costs to the consumer effectively. This inconsistency complicates long-term forecasting and raises questions about the sustainability of the current menu strategy in a high-inflation environment.
According to the provided income statement data, Red Robin's operating income frequently swings into negative territory, with an operating margin of -11.8% in 2024Q4, demonstrating that the company's fixed cost structure is currently too heavy to support its declining revenue base effectively.
The inability to scale operating income alongside gross profit suggests that SG&A expenses remain stubbornly high relative to the company's current footprint. This lack of operating leverage implies that any further revenue decline will likely result in outsized pressure on the bottom line.
As evidenced by the reported financial figures, Red Robin's net income has been consistently negative across most of the last ten quarters, with a net margin of -1.92% in the most recent period, indicating that the company is currently failing to generate sustainable shareholder value.
The reliance on non-operating items and potential asset impairments to manage the balance sheet suggests that reported net income is not reflective of core operational health. Investors should be wary of the impact that recurring losses have on the company's long-term equity position and capital structure.
Based on an analysis of the company's thin liquidity and negative net margins, skeptics may argue that the 'North Star' turnaround plan is insufficient to address the fundamental mismatch between the company's high-cost, large-format real estate and the current shift toward off-premise dining preferences.
The risk remains that the company's limited cash position will force management to prioritize short-term liquidity over necessary long-term investments in brand modernization. This creates a potential cycle of underinvestment that could further erode the company's competitive standing against more agile casual dining peers.
Quick answers to the most common questions about buying RRGB stock.
For fiscal year 2025, Red Robin Gourmet Burgers, Inc. (RRGB) reported total revenue of $1.21B. This represents a 923.7% increase compared to $118.2M in 1998.
Red Robin Gourmet Burgers, Inc. (RRGB) reported a net loss of $23.3M for the fiscal year ending 2025.
Red Robin Gourmet Burgers, Inc. (RRGB) reported an operating income of $2.8M, resulting in an operating profit margin of 0.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Red Robin Gourmet Burgers, Inc. (RRGB) generated $822.4M in gross profit for the year, representing a gross profit margin of 68.0%. This demonstrates the company's core pricing power and production efficiency.