Texas Roadhouse Inc. (TXRH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.83	$1.85	+1.1%	—	$1.7B	—
Q1 26	$1.8	$1.87	+3.9%	—	$1.6B	—
Q4 25	$1.5	$1.28	-14.7%	—	$1.5B	—
Q3 25	$1.28	$1.25	-2.3%	—	$1.4B	—
Q2 25	$1.91	$1.86	-2.6%	—	$1.5B	—
Q1 25	$1.76	$1.7	-3.4%	—	$1.4B	—
Q4 24	$1.64	$1.73	+5.5%	—	$1.4B	—
Q3 24	$1.32	$1.26	-4.5%	—	$1.3B	—
Q2 24	$1.64	$1.79	+9.1%	—	$1.3B	—
Q1 24	$1.62	$1.69	+4.3%	—	$1.3B	—
Q4 23	$1.07	$1.08	+0.9%	—	$1.2B	—
Q3 23	$1.06	$0.95	-10.4%	—	$1.1B	—
Q2 23	$1.2	$1.22	+1.7%	—	$1.2B	—
Q1 23	$1.36	$1.28	-5.9%	—	$1.2B	—
Q4 22	$1.03	$0.89	-13.6%	—	$1B	—
Q3 22	$0.89	$0.93	+4.5%	—	$993.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.11	—	—	$5.9B	—
FY24	—	$6.5	—	—	$5.4B	—
FY23	—	$4.56	—	—	$4.6B	—
FY22	—	$3.99	—	—	$4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2B	$2.2B	$2.5B	$2.8B	$2.4B	$3.5B	$4B	$4.6B	$5.4B	$5.9B
YoY change	+10.1%	+11.5%	+10.7%	+12.2%	-13%	+44.4%	+15.9%	+15.4%	+16%	+9.39%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2B	2.2B	2.5B	2.8B	2.4B	3.5B	4B	4.6B	5.4B	5.9B
Cost of revenue	1.6B	1.8B	2B	2.3B	2.1B	2.9B	3.4B	3.9B	4.4B	4.9B
Gross profit	385.4M	422.9M	444.5M	496.2M	283.6M	606.5M	653.6M	735.1M	947.3M	936.6M
Gross margin	19.4%	19.1%	18.1%	18%	11.8%	17.5%	16.3%	15.9%	17.6%	15.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	110.8M	123.3M	136.2M	149.4M	119.5M	157.5M	172.7M	198.4M	223.3M	227.3M
Operating expenses	130.3M	142.6M	155.2M	169.5M	139.6M	181.8M	194.6M	227.6M	251.4M	254.8M
Operating income	172.1M	186.9M	188.1M	211.1M	26.1M	297.9M	321.8M	354.3M	517.7M	475.1M
Operating margin	8.64%	8.42%	7.65%	7.66%	1.09%	8.6%	8.02%	7.65%	9.64%	8.08%
Non-operating income, net	932K	834K	1.1M	1.3M	-2.8M	-1.4M	-361K	1.1M	-29K	2.5M
Pretax income	171.8M	186.1M	188.6M	213.9M	19.3M	292.9M	321.3M	358.3M	524.5M	480.8M
Income tax	51.2M	48.6M	24.3M	32.4M	-15.7M	39.6M	43.7M	44.6M	80.1M	66.4M
Net income	120.6M	137.5M	164.3M	181.5M	34.9M	253.3M	277.6M	313.7M	444.3M	414.3M
Net margin	6.06%	6.2%	6.69%	6.59%	1.46%	7.31%	6.91%	6.77%	8.27%	7.05%
EBITDA	255.2M	281M	289.6M	325.8M	143.5M	425.4M	460.6M	507.7M	697.1M	682.1M
EPS	1.64	1.85	2.21	2.47	0.45	3.52	3.99	4.56	6.5	6.11
Diluted EPS	1.63	1.84	2.2	2.46	0.45	3.5	3.97	4.54	6.47	6.1

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.1B	1.2B	1.3B	1.3B	1.3B	1.4B	1.4B	1.5B	1.4B	1.5B	1.6B	1.7B
Cost of revenue	952.4M	980.7M	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.2B	1.3B	1.4B	1.4B
Gross profit	169.4M	183.7M	235.5M	250.2M	209.8M	251.8M	246.6M	265.4M	211.5M	213M	270.9M	282.2M
Gross margin	15.1%	15.8%	17.8%	18.7%	16.5%	17.5%	17%	17.6%	14.7%	14.4%	16.6%	16.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	47.7M	49.8M	52.6M	58.1M	55.1M	57.4M	56.2M	62.8M	54.4M	54M	61.1M	72.4M
Operating expenses	56.4M	59.3M	60.7M	58.1M	62.4M	63.9M	63M	68.2M	61.8M	61.8M	61.1M	80.9M
Operating income	73.9M	83.9M	133.3M	149.1M	102.9M	138.6M	134.8M	151.9M	97.1M	96.8M	153M	142.9M
Operating margin	6.58%	7.21%	10.1%	11.1%	8.08%	9.64%	9.31%	10%	6.76%	6.53%	9.37%	8.51%
Non-operating income, net	141K	26K	56K	-6M	-609K	328K	197K	-4.1M	-20K	1M	-6.5M	29K
Pretax income	74.5M	84.2M	134.8M	144.8M	104.2M	140.7M	136.3M	148.8M	97.7M	98M	147M	144M
Income tax	8.9M	9.2M	18.8M	21.7M	17.4M	22.2M	20.2M	22.1M	12.8M	11.3M	21M	19.5M
Net income	65.6M	75M	116M	123.1M	86.8M	118.5M	116.1M	126.7M	84.9M	86.7M	126M	124.5M
Net margin	5.85%	6.44%	8.78%	9.18%	6.82%	8.24%	8.02%	8.38%	5.91%	5.85%	7.71%	7.41%
EBITDA	113M	124.5M	175M	198.3M	148.2M	188M	183.6M	208.2M	149.9M	151.3M	216.5M	201.4M
EPS	0.96	1.08	1.69	1.8	1.27	1.74	1.71	1.87	1.25	1.28	1.87	1.86
Diluted EPS	0.95	1.08	1.69	1.79	1.26	1.73	1.7	1.86	1.25	1.28	1.87	1.85

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.4B	3.7B	4.3B	4B	5.4B	6.2B	6.2B	8.2B	12B	11B	10.4B
Enterprise value	3.3B	3.6B	4.1B	4.4B	5.9B	6.6B	6.7B	8.8B	12.7B	11.8B	11.4B
Shares outstanding	70.4M	71M	71.5M	70.5M	69.4M	69.7M	67.6M	66.9M	66.8M	66.3M	66.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	28.2	27.2	26	21.9	155.4	24.6	22.2	26.1	27.1	26.6	25.3
P/S	1.71	1.68	1.74	1.44	2.26	1.8	1.53	1.77	2.24	1.87	1.67
P/B	4.48	4.39	4.44	4.26	5.76	5.8	5.99	7.06	8.77	7.43	6.75
EV/EBITDA	13.1	13	14	13.6	41.1	15.6	14.6	17.4	18.2	17.4	16.1
EV/Sales	1.68	1.64	1.65	1.6	2.46	1.91	1.68	1.91	2.35	2.02	1.83
Earnings yield	3.55%	3.68%	3.85%	4.57%	0.64%	4.07%	4.51%	3.84%	3.69%	3.76%	3.95%
FCF yield	2.72%	3.34%	4.61%	4.03%	1.4%	4.31%	4.32%	2.67%	3.32%	3.05%	2.27%
PEG	—	—	—	—	—	—	—	—	—	—	-47.3

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	19.4%	19.1%	18.1%	18%	11.8%	17.5%	16.3%	15.9%	17.6%	15.9%	16.8%
Operating margin	8.64%	8.42%	7.65%	7.66%	1.09%	8.6%	8.02%	7.65%	9.64%	8.08%	8.51%
Net margin	6.06%	6.2%	6.69%	6.59%	1.46%	7.31%	6.91%	6.77%	8.27%	7.05%	6.63%
ROE	15.9%	16.2%	17.1%	19.5%	3.7%	23.6%	27%	27.1%	32.3%	28%	27.7%
ROA	10.2%	10.3%	11.2%	9.15%	1.5%	10.1%	11%	11.2%	13.9%	11.7%	8.72%
ROIC	17.3%	18.4%	21.8%	13%	1.85%	17.4%	17.3%	17%	22.1%	17.6%	17.2%
Return on tangible assets	12.8%	12.7%	13.5%	10.5%	1.69%	11.2%	12.6%	12.9%	15.7%	13.8%	13.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.72	0.78	0.9	0.59	1.01	0.94	0.61	0.48	0.62	0.5	0.46
Quick ratio	0.66	0.73	0.85	0.55	0.96	0.88	0.55	0.43	0.57	0.45	0.39
Debt / equity	0.07	0.06	0	0.6	0.88	0.69	0.73	0.67	0.62	0.66	0.69
Debt / assets	0.04	0.04	0	0.28	0.36	0.3	0.3	0.28	0.27	0.27	0.3
Net debt / EBITDA	-0.24	-0.35	-0.73	1.38	3.26	0.96	1.26	1.31	0.87	1.23	1.23
Interest coverage	137.1	118.5	318.2	139.4	5.71	81.3	2.6K	—	—	—	—
Effective tax rate	29.8%	26.1%	12.9%	15.1%	0%	13.5%	13.6%	12.5%	15.3%	13.8%	13.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	28.3	31.3	34.4	39.1	34.5	49.7	59.4	69.2	80.5	88.6	94.4
EPS (basic)	1.64	1.85	2.21	2.47	0.45	3.52	3.99	4.56	6.5	6.11	6.11
EPS (diluted)	1.63	1.84	2.2	2.46	0.45	3.5	3.97	4.54	6.47	6.1	6.25
Book value per share	10.8	12	13.4	13.2	13.6	15.4	15.2	17.3	20.6	22.3	23.4
FCF per share	1.31	1.76	2.75	2.27	1.1	3.85	3.93	3.26	5.98	5.07	6.07
Cash per share	1.6	2.13	2.94	1.53	5.23	4.81	2.57	1.56	3.67	2.03	3.08
Capex per share	0	0	0	0.01	0.06	0.08	0.22	0.27	0.26	5.85	6.02

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	0%	0%	0.04%	0.16%	0.16%	0.38%	0.4%	0.32%	6.6%	6.37%
Capex / operating cash flow	0%	0%	0%	0.29%	1.8%	1.32%	2.92%	3.34%	2.49%	53.1%	49.4%
Payout ratio	43.2%	42.3%	41.7%	56.4%	71.6%	33%	44.7%	46.9%	36.7%	43.5%	45.8%
Dividend yield	1.53%	1.56%	1.61%	2.58%	0.46%	1.34%	2.02%	1.8%	1.35%	1.64%	1.89%

Yield

1.89%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.75

ex-dividend Sep 1, 2026

Payout ratio

46%

of earnings

Dividend growth

5 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.75
Jun 2, 2026	$0.75
Mar 17, 2026	$0.75
Dec 2, 2025	$0.68
Sep 2, 2025	$0.68

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.1B	$1.2B	$1.3B	$1.3B	$1.3B	$1.4B	$1.4B	$1.5B	$1.4B	$1.5B	$1.6B	$1.7B
YoY change	+12.9%	+15.3%	+12.5%	+14.5%	+13.5%	+23.5%	+9.57%	+12.7%	+12.8%	+3.07%	+12.8%	+11.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	112.9M	150.9M	210.1M	107.9M	363.2M	335.6M	173.9M	104.2M	245.2M	134.7M
Receivables	56.1M	76.5M	92.1M	99.3M	98.4M	161.4M	150.3M	175.5M	193.2M	214.5M
Inventory	16.1M	16.3M	18.8M	20.3M	22.4M	31.6M	38M	38.3M	40.8M	45.6M
Total current assets	200.3M	257.1M	345M	247.9M	510.7M	563.5M	396.8M	356.5M	516.6M	451.5M
Property, plant & equipment	161.5M	154.9M	121.2M	634.3M	616.2M	648.1M	687.3M	790M	854.6M	933M
Goodwill & intangibles	240.4M	247.5M	250.4M	252M	258.5M	257M	321.4M	365.1M	361.6M	541.7M
Total assets	1.2B	1.3B	1.5B	2B	2.3B	2.5B	2.5B	2.8B	3.2B	3.5B
Accounts payable	50.8M	57.6M	62.1M	61.7M	67M	95.2M	105.6M	131.6M	144.8M	163.4M
Short-term debt	167K	9K	—	17.3M	69.3M	22M	25.5M	27.4M	28.2M	31M
Total current liabilities	279.5M	330M	385.1M	417.2M	506.3M	602.1M	652M	745.4M	828.1M	908.8M
Long-term debt	52.4M	52M	0	538.7M	762.2M	722.9M	727.9M	743.5M	826.3M	943.1M
Total liabilities	421.7M	479.2M	508.6M	1.1B	1.4B	1.4B	1.5B	1.6B	1.8B	2.1B
Shareholders' equity	758.2M	851.4M	960.7M	931.2M	943.1M	1.1B	1B	1.2B	1.4B	1.5B
Total debt	52.5M	52M	0	556M	831.4M	744.8M	753.4M	770.9M	854.5M	974M
Net debt	-60.4M	-98.9M	-210.1M	448.1M	468.3M	409.2M	579.5M	666.6M	609.2M	839.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	69.3M	104.2M	213.4M	197.5M	189.2M	245.2M	221.1M	176.8M	108.2M	134.7M	214.6M	202.4M
Receivables	49M	175.5M	53.9M	68.6M	52.3M	193.2M	50.9M	65M	61.1M	214.5M	53.8M	74.1M
Inventory	36.6M	38.3M	38.4M	41.2M	39.8M	40.8M	43.9M	45.7M	45.5M	45.6M	46M	49.7M
Total current assets	181.5M	356.5M	344.4M	333.3M	307.4M	516.6M	353.3M	324.4M	249.4M	451.5M	362.4M	361.9M
Property, plant & equipment	2.1B	790M	2.2B	2.2B	2.3B	854.6M	2.5B	2.5B	2.6B	933M	2.7B	2.8B
Goodwill & intangibles	347.8M	365.1M	345.2M	344.1M	342.7M	361.6M	470.5M	489.2M	486.9M	541.7M	607.3M	603M
Total assets	2.5B	2.8B	2.8B	2.9B	2.9B	3.2B	3.2B	3.3B	3.3B	3.5B	3.6B	3.7B
Accounts payable	126.2M	131.6M	140.3M	136.8M	130.8M	144.8M	155.8M	146.9M	141.5M	163.4M	170M	179M
Short-term debt	27.2M	27.4M	27.5M	28.3M	28.5M	28.2M	30M	30.5M	30M	31M	31.8M	32.8M
Total current liabilities	561.4M	745.4M	686.4M	644.3M	627.6M	828.1M	752M	713.5M	688.8M	908.8M	788.8M	790.8M
Long-term debt	730.2M	743.5M	766.5M	779.5M	802.6M	826.3M	877.6M	892.4M	903.8M	943.1M	1B	1.1B
Total liabilities	1.4B	1.6B	1.6B	1.6B	1.6B	1.8B	1.8B	1.8B	1.8B	2.1B	2B	2.1B
Shareholders' equity	1.1B	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B	1.5B	1.5B	1.5B	1.5B	1.6B
Total debt	757.3M	770.9M	794.1M	807.8M	831.1M	854.5M	907.6M	922.9M	933.7M	974M	1.1B	1.1B
Net debt	688M	666.6M	580.6M	610.4M	641.8M	609.2M	686.5M	746.1M	825.6M	839.3M	839.7M	885.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	120.6M	137.5M	164.3M	181.5M	34.9M	253.3M	277.6M	313.7M	444.3M	414.3M
Depreciation & amortization	83M	93.5M	101.2M	115.5M	117.9M	126.8M	137.2M	153.2M	178.2M	206.6M
Stock-based compensation	26.1M	26.9M	34M	35.5M	29.4M	38.1M	36.7M	34.2M	47.1M	47.8M
Change in working capital	22.2M	18.1M	23M	23.8M	53.3M	-3.1M	56.7M	46.4M	44.6M	46.3M
Operating cash flow	257.8M	271M	335.8M	362.7M	215.6M	424M	517.6M	550.6M	700.4M	730.1M
Capital expenditure	0	0	0	1.1M	3.9M	5.6M	15.1M	18.4M	17.4M	-388M
Investing cash flow	0	-16.5M	-2.2M	-480K	-6.7M	5.6M	-17.6M	-20.1M	17.4M	-497.2M
Dividends paid	-52.1M	-58.2M	-68.5M	-102.4M	-25M	-83.7M	-124.1M	-147.2M	-162.9M	-180.3M
Share repurchases	-13.4M	-11.6M	-14.1M	-152.3M	-25.1M	-69.3M	-226.4M	-62.7M	-97.6M	-169.9M
Financing cash flow	-41.8M	-72.5M	-135.5M	-261.7M	425.9M	-441.2M	-459.8M	-317.4M	-275.7M	-357.8M
Net change in cash	216M	181.9M	198.1M	100.5M	634.9M	-11.6M	40.2M	213.1M	442.1M	-124.9M
Free cash flow	92.3M	124.7M	196.9M	160M	76M	268.1M	265.6M	217.9M	399.3M	336.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	65.6M	75M	116M	123.1M	86.8M	118.5M	—	—	84.9M	86.7M	126M	124.5M
Depreciation & amortization	39.1M	40.4M	41.5M	42.9M	44.5M	49.2M	—	—	52.6M	54.5M	56.8M	58.3M
Stock-based compensation	8.5M	9M	9.5M	8.9M	14.8M	13.9M	—	—	12.6M	11.9M	13.5M	13.4M
Change in working capital	-13.3M	55M	52.2M	-39.9M	-16M	48.3M	—	—	-22.6M	66.4M	63.8M	-38.4M
Operating cash flow	100.9M	179.8M	219.4M	130.5M	124.8M	225.8M	—	—	143.6M	220.5M	259.1M	180.1M
Capital expenditure	1.8M	9.5M	3M	6.3M	0	8.1M	-77.4M	-92.5M	-128.9M	-89.2M	-80.2M	-98.7M
Investing cash flow	1.8M	9.5M	3M	6.3M	0	8.1M	-77.4M	-92.5M	-129.2M	-101.3M	-157.2M	-98.8M
Dividends paid	-36.7M	-36.8M	-40.8M	-40.7M	-40.7M	-40.7M	—	—	-45.1M	-44.9M	-49.4M	-49.3M
Share repurchases	-14.5M	-6.9M	-16.4M	-29.6M	-12.7M	-38.9M	—	—	-40.6M	-50.8M	-31.3M	-45.2M
Financing cash flow	-53M	-45.7M	-59.6M	-78.8M	-55.9M	-81.8M	—	—	-88M	-95.3M	-32.5M	-97.1M
Net change in cash	49.7M	143.6M	162.8M	58M	68.8M	152M	-77.4M	-92.5M	-73.6M	23.9M	69.4M	-15.7M
Free cash flow	13.2M	71.1M	165.8M	56.1M	47.7M	129.7M	—	—	14.7M	125.3M	178.9M	81.5M

Texas Roadhouse Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history