Texas Roadhouse, Inc. (TXRH) 10-Year Financial Performance & Capital Metrics

TXRH • • Industrial / General

Consumer CyclicalRestaurantsCasual DiningSteakhouse Casual

AboutTexas Roadhouse, Inc., together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names. As of December 28, 2021, it operated 566 domestic restaurants and 101 franchise restaurants. Texas Roadhouse, Inc. was founded in 1993 and is based in Louisville, Kentucky.Show more

Revenue $5.37B +16.0%
EBITDA $695M +37.0%
Net Income $434M +42.2%
EPS (Diluted) 6.47 +42.5%
Gross Margin 17.63% +11.1%
EBITDA Margin 12.93% +18.1%
Operating Margin 9.61% +25.8%
Net Margin 8.07% +22.6%
ROE 34.26% +22.8%
ROIC 20.35% +31.5%
Debt/Equity 0.62 -6.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 29.3%
✓Strong 5Y profit CAGR of 20.0%
✓Strong Piotroski F-Score: 9/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 14.3%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.01%

5Y14.28%

3Y15.76%

TTM14.59%

Profit (Net Income) CAGR

10Y17.42%

5Y19.97%

3Y20.91%

TTM18.52%

EPS CAGR

10Y18.06%

5Y21.34%

3Y22.73%

TTM18.87%

ROCE

10Y Avg16.91%

5Y Avg15.15%

3Y Avg19.47%

Latest23.42%

Peer Comparison

Steakhouse Casual

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TXRHTexas Roadhouse, Inc.	12.81B	193.60	29.92	16.01%	7.72%	29.87%	3.12%	0.62
BLMNBloomin' Brands, Inc.	687.7M	8.07	-5.42	-5.22%	-0.14%	-1.24%	1.08%	16.31

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.81B	1.99B	2.22B	2.46B	2.76B	2.4B	3.46B	4.01B	4.63B	5.37B
Revenue Growth %	0.14%	0.1%	0.11%	0.11%	0.12%	-0.13%	0.44%	0.16%	0.15%	0.16%
Cost of Goods Sold+	1.48B	1.61B	1.8B	2.01B	2.26B	2.11B	2.86B	3.36B	3.9B	4.43B
COGS % of Revenue	0.82%	0.81%	0.81%	0.82%	0.82%	0.88%	0.82%	0.84%	0.84%	0.82%
Gross Profit+	326.69M	385.38M	422.93M	444.5M	496.21M	283.59M	606.5M	653.63M	735.08M	947.26M
Gross Margin %	0.18%	0.19%	0.19%	0.18%	0.18%	0.12%	0.18%	0.16%	0.16%	0.18%
Gross Profit Growth %	0.13%	0.18%	0.1%	0.05%	0.12%	-0.43%	1.14%	0.08%	0.12%	0.29%
Operating Expenses+	182.12M	213.49M	236.72M	256.71M	284.19M	259.74M	309.31M	333.43M	381.09M	430.74M
OpEx % of Revenue	0.1%	0.11%	0.11%	0.1%	0.1%	0.11%	0.09%	0.08%	0.08%	0.08%
Selling, General & Admin	92.34M	110.8M	123.29M	136.16M	149.39M	119.5M	157.48M	172.71M	198.38M	223.26M
SG&A % of Revenue	0.05%	0.06%	0.06%	0.06%	0.05%	0.05%	0.05%	0.04%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	89.78M	102.69M	113.43M	120.55M	134.8M	140.24M	151.83M	160.72M	182.71M	207.47M
Operating Income+	144.56M	171.9M	186.21M	187.79M	212.02M	23.84M	297.19M	320.2M	353.99M	516.52M
Operating Margin %	0.08%	0.09%	0.08%	0.08%	0.08%	0.01%	0.09%	0.08%	0.08%	0.1%
Operating Income Growth %	0.11%	0.19%	0.08%	0.01%	0.13%	-0.89%	11.46%	0.08%	0.11%	0.46%
EBITDA+	214.26M	254.86M	279.7M	289M	327.57M	141.72M	423.95M	457.43M	507.19M	694.68M
EBITDA Margin %	0.12%	0.13%	0.13%	0.12%	0.12%	0.06%	0.12%	0.11%	0.11%	0.13%
EBITDA Growth %	0.13%	0.19%	0.1%	0.03%	0.13%	-0.57%	1.99%	0.08%	0.11%	0.37%
D&A (Non-Cash Add-back)	69.69M	82.96M	93.5M	101.22M	115.54M	117.88M	126.76M	137.24M	153.2M	178.16M
EBIT	145.54M	172.08M	186.86M	188.07M	211.12M	23.34M	297.93M	321.8M	354.26M	517.75M
Net Interest Income+	-1.96M	-1.25M	-1.58M	-591K	1.51M	-4.09M	-3.66M	-124K	2.98M	6.77M
Interest Income	0	0	0	0	1.51M	0	0	0	2.98M	6.77M
Interest Expense	1.96M	1.25M	1.58M	591K	0	4.09M	3.66M	124K	0	0
Other Income/Expense	-318K	-144K	-89K	762K	1.89M	-4.59M	-4.3M	1.11M	4.33M	7.97M
Pretax Income+	144.25M	171.76M	186.12M	188.55M	213.91M	19.25M	292.89M	321.31M	358.32M	524.49M
Pretax Margin %	0.08%	0.09%	0.08%	0.08%	0.08%	0.01%	0.08%	0.08%	0.08%	0.1%
Income Tax+	42.99M	51.18M	48.58M	24.26M	32.4M	-15.67M	39.58M	43.72M	44.65M	80.14M
Effective Tax Rate %	0.67%	0.67%	0.71%	0.84%	0.82%	1.62%	0.84%	0.84%	0.85%	0.83%
Net Income+	96.89M	115.6M	131.53M	158.22M	174.45M	31.25M	245.29M	269.82M	304.88M	433.59M
Net Margin %	0.05%	0.06%	0.06%	0.06%	0.06%	0.01%	0.07%	0.07%	0.07%	0.08%
Net Income Growth %	0.11%	0.19%	0.14%	0.2%	0.1%	-0.82%	6.85%	0.1%	0.13%	0.42%
Net Income (Continuing)	101.26M	120.57M	137.54M	164.29M	181.52M	34.92M	253.31M	277.6M	313.68M	444.35M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	7.52M	8.02M	12.31M	15.14M	15.18M	15.55M	15.36M	15.02M	15.85M	15.38M
EPS (Diluted)+	1.37	1.63	1.84	2.20	2.46	0.45	3.50	3.97	4.54	6.47
EPS Growth %	0.11%	0.19%	0.13%	0.2%	0.12%	-0.82%	6.78%	0.13%	0.14%	0.43%
EPS (Basic)	1.38	1.64	1.85	2.21	2.47	0.45	3.52	3.99	4.56	6.50
Diluted Shares Outstanding	70.75M	71.05M	71.53M	71.96M	70.92M	69.89M	70.1M	67.92M	67.15M	67.01M
Basic Shares Outstanding	70.03M	70.4M	70.99M	71.47M	70.51M	69.44M	69.71M	67.64M	66.89M	66.75M
Dividend Payout Ratio	0.48%	0.45%	0.44%	0.43%	0.59%	0.8%	0.34%	0.46%	0.48%	0.38%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	133.81M	200.26M	257.08M	345.02M	247.9M	510.65M	563.52M	396.84M	356.47M	516.57M
Cash & Short-Term Investments	59.33M	112.94M	150.92M	210.13M	107.88M	363.15M	335.64M	173.86M	104.25M	245.22M
Cash Only	59.33M	112.94M	150.92M	210.13M	107.88M	363.15M	335.64M	173.86M	104.25M	245.22M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	45.42M	56.13M	76.5M	92.11M	99.31M	98.42M	161.36M	150.26M	175.47M	193.17M
Days Sales Outstanding	9.17	10.29	12.58	13.68	13.15	14.98	17	13.66	13.83	13.12
Inventory	15.63M	16.09M	16.31M	18.83M	20.27M	22.36M	31.59M	38.02M	38.32M	40.76M
Days Inventory Outstanding	3.85	3.66	3.31	3.41	3.27	3.86	4.04	4.13	3.59	3.36
Other Current Assets	2.08M	2M	0	0	0	0	0	29.6M	35.17M	37.42M
Total Non-Current Assets+	898.89M	979.71M	1.07B	1.12B	1.74B	1.81B	1.95B	2.13B	2.44B	2.67B
Property, Plant & Equipment	751.29M	830.05M	912.15M	956.68M	1.56B	1.62B	1.74B	1.89B	2.16B	2.38B
Fixed Asset Turnover	2.41x	2.40x	2.43x	2.57x	1.77x	1.48x	1.99x	2.12x	2.14x	2.26x
Goodwill	116.57M	116.57M	121.04M	123.22M	124.75M	127M	127M	148.73M	169.68M	169.68M
Intangible Assets	4.83M	3.62M	2.7M	1.96M	1.23M	2.27M	1.52M	11.99M	12.88M	11.12M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	26.21M	29.46M	37.66M	42.4M	53.32M	65.99M	79.05M	73.88M	95M	115.72M
Total Assets+	1.03B	1.18B	1.33B	1.47B	1.98B	2.33B	2.51B	2.53B	2.79B	3.19B
Asset Turnover	1.75x	1.69x	1.67x	1.67x	1.39x	1.03x	1.38x	1.59x	1.66x	1.68x
Asset Growth %	0.09%	0.14%	0.13%	0.1%	0.35%	0.17%	0.08%	0.01%	0.11%	0.14%
Total Current Liabilities+	256.64M	279.53M	330M	385.14M	417.22M	506.32M	602.14M	652.01M	745.43M	828.13M
Accounts Payable	51M	50.79M	57.58M	62.06M	61.65M	66.98M	95.23M	105.56M	131.64M	144.79M
Days Payables Outstanding	12.57	11.55	11.7	11.25	9.96	11.56	12.16	11.46	12.33	11.94
Short-Term Debt	144K	167K	9K	0	0	50M	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	-9K	0	0	0	0	0	0	0
Current Ratio	0.52x	0.72x	0.78x	0.90x	0.59x	1.01x	0.94x	0.61x	0.48x	0.62x
Quick Ratio	0.46x	0.66x	0.73x	0.85x	0.55x	0.96x	0.88x	0.55x	0.43x	0.57x
Cash Conversion Cycle	0.46	2.4	4.19	5.84	6.47	7.28	8.87	6.33	5.09	4.54
Total Non-Current Liabilities+	98.88M	142.2M	149.23M	123.43M	635.18M	875.79M	836.32M	845.99M	890.43M	988.93M
Long-Term Debt	25.55M	52.38M	51.98M	2.08M	0	190M	100M	50M	0	0
Capital Lease Obligations	0	0	0	0	538.71M	572.17M	622.89M	677.87M	743.48M	826.3M
Deferred Tax Liabilities	6.4M	12.27M	5.3M	17.27M	22.7M	2.8M	11.73M	20.98M	23.1M	8.18M
Other Non-Current Liabilities	66.93M	77.55M	91.95M	104.08M	73.77M	110.82M	101.7M	97.14M	123.85M	154.44M
Total Liabilities	355.52M	421.73M	479.23M	508.57M	1.05B	1.38B	1.44B	1.5B	1.64B	1.82B
Total Debt+	25.69M	52.55M	51.99M	2.08M	555.97M	831.44M	744.84M	753.36M	770.89M	854.47M
Net Debt	-33.64M	-60.4M	-98.93M	-208.04M	448.09M	468.29M	409.2M	579.5M	666.64M	609.25M
Debt / Equity	0.04x	0.07x	0.06x	0.00x	0.60x	0.88x	0.69x	0.73x	0.67x	0.62x
Debt / EBITDA	0.12x	0.21x	0.19x	0.01x	1.70x	5.87x	1.76x	1.65x	1.52x	1.23x
Net Debt / EBITDA	-0.16x	-0.24x	-0.35x	-0.72x	1.37x	3.30x	0.97x	1.27x	1.31x	0.88x
Interest Coverage	73.80x	136.97x	118.08x	317.75x	-	5.83x	81.13x	2582.23x	-	-
Total Equity+	677.18M	758.24M	851.39M	960.71M	931.17M	943.05M	1.07B	1.03B	1.16B	1.37B
Equity Growth %	0.1%	0.12%	0.12%	0.13%	-0.03%	0.01%	0.14%	-0.04%	0.13%	0.19%
Book Value per Share	9.57	10.67	11.90	13.35	13.13	13.49	15.31	15.13	17.24	20.50
Total Shareholders' Equity	669.66M	750.23M	839.08M	945.57M	915.99M	927.5M	1.06B	1.01B	1.14B	1.36B
Common Stock	70K	71K	71K	72K	69K	70K	69K	67K	67K	67K
Retained Earnings	468.68M	530.72M	602.5M	688.34M	775.65M	781.91M	943.55M	999.43M	1.14B	1.36B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-109K	-194K	-39K	-228K	-225K	-106K	0	0	0	0
Minority Interest	7.52M	8.02M	12.31M	15.14M	15.18M	15.55M	15.36M	15.02M	15.85M	15.38M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	227.94M	257.06M	286.37M	352.87M	374.3M	230.44M	468.83M	511.73M	564.98M	753.63M
Operating CF Margin %	0.13%	0.13%	0.13%	0.14%	0.14%	0.1%	0.14%	0.13%	0.12%	0.14%
Operating CF Growth %	0.19%	0.13%	0.11%	0.23%	0.06%	-0.38%	1.03%	0.09%	0.1%	0.33%
Net Income	101.26M	120.57M	137.54M	164.29M	181.52M	34.92M	253.31M	277.6M	313.68M	444.35M
Depreciation & Amortization	69.69M	82.96M	93.5M	101.22M	115.54M	117.88M	126.76M	137.24M	153.2M	178.16M
Stock-Based Compensation	22.82M	26.07M	26.93M	33.98M	35.5M	29.43M	38.14M	36.66M	34.23M	47.05M
Deferred Taxes	411K	5.99M	-5.07M	12.32M	6.33M	-19.93M	8.9M	9.46M	3.12M	-13.8M
Other Non-Cash Items	5.29M	6.08M	5.51M	6.41M	6.04M	6.26M	5.55M	6.79M	3.31M	4.33M
Working Capital Changes	28.46M	15.39M	27.97M	34.65M	29.36M	61.88M	36.16M	43.98M	57.45M	93.55M
Change in Receivables	-11.39M	-10.73M	-20.38M	-15.6M	-5.77M	1.06M	-62.4M	11.06M	-24.42M	-17.67M
Change in Inventory	-1.38M	-455K	-48K	-2.5M	-1.41M	-2.02M	-9.23M	-6.1M	105K	-2.44M
Change in Payables	7.61M	138K	1.6M	8.88M	407K	490K	27.73M	5.41M	23.08M	13.14M
Cash from Investing+	-173.2M	-164.74M	-178.16M	-158.15M	-214.82M	-161.1M	-195.1M	-263.73M	-367.17M	-336.9M
Capital Expenditures	-173.47M	-164.74M	-161.63M	-155.98M	-214.34M	-154.4M	-200.69M	-246.12M	-347.03M	-354.34M
CapEx % of Revenue	0.1%	0.08%	0.07%	0.06%	0.08%	0.06%	0.06%	0.06%	0.07%	0.07%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	272K	0	0	0	1.06M	3.88M	5.59M	15.14M	18.39M	17.44M
Cash from Financing+	-81.53M	-38.72M	-70.24M	-135.52M	-261.72M	185.94M	-301.23M	-409.77M	-267.43M	-275.75M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-46.18M	-52.05M	-58.15M	-68.55M	-102.37M	-24.99M	-83.66M	-124.14M	-147.18M	-162.86M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.05M	-769K	-4.43M	-5.33M	-6.29M	-4.25M	-8.31M	-7.47M	-20.26M	-32.88M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	54.47M	92.33M	124.75M	196.89M	159.96M	76.04M	268.13M	265.6M	217.95M	399.29M
FCF Margin %	0.03%	0.05%	0.06%	0.08%	0.06%	0.03%	0.08%	0.07%	0.05%	0.07%
FCF Growth %	-0.18%	0.7%	0.35%	0.58%	-0.19%	-0.52%	2.53%	-0.01%	-0.18%	0.83%
FCF per Share	0.77	1.30	1.74	2.74	2.26	1.09	3.83	3.91	3.25	5.96
FCF Conversion (FCF/Net Income)	2.35x	2.22x	2.18x	2.23x	2.15x	7.37x	1.91x	1.90x	1.85x	1.74x
Interest Paid	2.32M	1.01M	1.22M	896K	738K	3.89M	3.19M	1.55M	1.12M	891K
Taxes Paid	39.58M	42.89M	50.2M	20.52M	20.44M	3.78M	39.79M	25.91M	39.86M	87.33M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15%	16.11%	16.34%	17.46%	18.44%	3.34%	24.33%	25.68%	27.9%	34.26%
Return on Invested Capital (ROIC)	17.73%	19.22%	19.26%	18.71%	14.92%	1.28%	15.4%	15.54%	15.47%	20.35%
Gross Margin	18.08%	19.36%	19.05%	18.09%	18%	11.83%	17.51%	16.28%	15.87%	17.63%
Net Margin	5.36%	5.81%	5.93%	6.44%	6.33%	1.3%	7.08%	6.72%	6.58%	8.07%
Debt / Equity	0.04x	0.07x	0.06x	0.00x	0.60x	0.88x	0.69x	0.73x	0.67x	0.62x
Interest Coverage	73.80x	136.97x	118.08x	317.75x	-	5.83x	81.13x	2582.23x	-	-
FCF Conversion	2.35x	2.22x	2.18x	2.23x	2.15x	7.37x	1.91x	1.90x	1.85x	1.74x
Revenue Growth	14.24%	10.14%	11.49%	10.72%	12.16%	-12.99%	44.44%	15.91%	15.36%	16.01%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Food and Beverage	-	-	-	-	-	-	114.7M
Food and Beverage Growth	-	-	-	-	-	-	-
Franchise royalties	-	-	-	21.77M	23.06M	24.17M	28.34M
Franchise royalties Growth	-	-	-	-	5.92%	4.82%	17.27%
Franchise fees	-	-	-	3M	3.07M	2.95M	3.14M
Franchise fees Growth	-	-	-	-	2.33%	-3.94%	6.38%
Gift cards	-	-	-	140.1M	-	-	-
Gift cards Growth	-	-	-	-	-	-	-
Franchise royalties and fees	-	-	-	24.77M	-	-	-
Franchise royalties and fees Growth	-	-	-	-	-	-	-
Food And Beverage	-	59M	2.38B	-	-	-	-
Food And Beverage Growth	-	-	3934.20%	-	-	-	-
Franchise	-	21.99M	17.95M	-	-	-	-
Franchise Growth	-	-	-18.38%	-	-	-	-
Franchise Royalty	17.44M	19.45M	15.54M	-	-	-	-
Franchise Royalty Growth	-	11.48%	-20.07%	-	-	-	-
Franchise Fees	2.89M	2.54M	2.4M	-	-	-	-
Franchise Fees Growth	-	-12.11%	-5.39%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Texas Roadhouse, Inc. (TXRH) has a price-to-earnings (P/E) ratio of 29.9x. This suggests investors expect higher future growth.

Growth & Financials

Texas Roadhouse, Inc. (TXRH) reported $5.67B in revenue for fiscal year 2024. This represents a 411% increase from $1.11B in 2011.

Texas Roadhouse, Inc. (TXRH) grew revenue by 16.0% over the past year. This is strong growth.

Yes, Texas Roadhouse, Inc. (TXRH) is profitable, generating $438.0M in net income for fiscal year 2024 (8.1% net margin).

Dividend & Returns

Yes, Texas Roadhouse, Inc. (TXRH) pays a dividend with a yield of 1.26%. This makes it attractive for income-focused investors.

Texas Roadhouse, Inc. (TXRH) has a return on equity (ROE) of 34.3%. This is excellent, indicating efficient use of shareholder capital.

Texas Roadhouse, Inc. (TXRH) generated $373.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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