Texas Roadhouse Inc TXRH

Consumer DiscretionaryHotels & Entertainment ServicesUnited States of America

Last close 182.52 USD on Nov 1, 2026, +11.4% year to date

Quant rating

Quant rating B Rank 71 of 344 in Consumer Discretionary

Growth A 40 of 344
Valuation D 247 of 344
Quality A 19 of 344
Revisions C 180 of 344
Momentum B 92 of 344

Wall Street consensus Buy (2.11)Average target 206.81 USD +13.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 12.0B
Enterprise value: 11.8B
52-week range: 153.83 – 216.19
3-year range: 102.42 – 216.19
Dividend yield: 1.64%
Beta (5 years): 0.85
Shares outstanding: 65.6M
Next earnings: Nov 5, 2026

About the company

Texas Roadhouse, Inc. is a restaurant company operating predominantly in the casual dining segment. The Company maintains three restaurant concepts operating as Texas Roadhouse, Bubba’s 33, and Jaggers. Texas Roadhouse is a full-service, casual dining restaurant concept offering an assortment of specially seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. Bubba’s 33 is a full-service, casual dining restaurant concept featuring scratch-made food for all with a little rock 'n' roll, ice-cold beer, and signature cocktails. Its menu features burgers, pizza, wings, sandwiches and others. Its Jaggers is a fast-casual restaurant concept offering burgers, hand-breaded chicken sandwiches and chicken tenders, made-to-order fresh salads, and hand-spun milkshakes. Jaggers offer drive-thru, carry-out, and dine-in service options. It operates approximately 780 restaurants system-wide in 49 states, one United States territory, and 10 foreign countries.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	5,878	5,373	4,632	4,015	3,464	–
Revenue growth	9.4%	16.0%	15.4%	15.9%	44.4%	19.6%
EPS (basic, normalized)	6.10	6.47	4.54	3.97	3.50	–
EPS growth	−5.7%	42.5%	14.4%	13.4%	–	–
Gross margin	65.1%	66.8%	65.6%	65.7%	66.6%	66.0%
Net margin	6.9%	8.1%	6.6%	6.7%	7.1%	7.1%
ROE	28.8%	34.7%	28.3%	26.1%	24.7%	28.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	202
Current ratio	0.46x
Long-term debt (mil)	50.0
Net debt (mil)	−131
Total equity (mil)	1,559
Net debt / equity	−0.08x
Net debt / EBITDA	−0.19x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	5,878	+9.4%	2.0x	681	−0.5%	17.4x	6.10	−5.7%	29.9x
2026	6,522	+10.9%	1.8x	745	+9.4%	15.9x	6.52	+6.9%	28.0x
2027	7,142	+9.5%	1.7x	854	+14.6%	13.9x	7.71	+18.3%	23.7x
2028	7,756	+8.6%	1.5x	975	+14.2%	12.1x	9.16	+18.8%	19.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,522	−0.3%	−0.2%	−0.2%	6.52	−1.1%	+1.5%	+3.4%
2027	7,142	−0.3%	0.0%	0.0%	7.71	−1.0%	+1.2%	+1.1%
2028	7,756	−0.4%	+0.1%	+0.6%	9.16	−2.4%	+0.7%	−0.6%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,321	1,341	1,273	1,438	1,448	1,512	1,436	1,482	1,633	1,680
Sales mean (mil)	1,323	1,339	1,274	1,411	1,442	1,502	1,429	1,496	1,636	1,674
Surprise	−0.1%	+0.2%	−0.1%	+1.9%	+0.4%	+0.7%	+0.5%	−0.9%	−0.2%	+0.4%
EPS reported	1.69	1.79	1.26	1.73	1.70	1.86	1.25	1.28	1.87	1.85
EPS mean	1.63	1.64	1.32	1.64	1.76	1.91	1.28	1.51	1.82	1.83
Surprise	+3.9%	+8.9%	−4.2%	+5.5%	−3.5%	−2.5%	−2.3%	−15.0%	+3.0%	+1.2%

Peer comparison Hotels & Entertainment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
TXRH Texas Roadhouse Inc	12.0B	−0.19x	6.9%	7.68x	28.0x	23.7x	15.9x	13.9x
MCD McDonald's Corp	182.7B	2.63x	31.9%	−178.54x	20.1x	18.8x	14.2x	13.6x
SBUX Starbucks Corp	118.2B	1.58x	5.0%	−15.40x	32.6x	27.8x	19.2x	17.2x
YUM Yum! Brands, Inc.	42.4B	4.01x	19.0%	−5.97x	24.2x	22.2x	18.2x	17.3x
CMG Chipotle Mexican Grill, Inc.	40.3B	−0.39x	12.9%	16.43x	29.0x	24.0x	17.6x	15.2x
QSR Restaurant Brands International Inc.	25.2B	4.76x	9.6%	8.29x	17.8x	16.4x	12.6x	11.8x
Mean		2.07x	14.2%	−27.92x	25.3x	22.1x	16.3x	14.8x
Median		2.11x	11.2%	0.86x	26.1x	22.9x	16.8x	14.5x

Technical analysis

1M+15.2%
3M−10.5%
1Y+7.5%
3Y+95.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Texas Roadhouse Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	5,878	5,373	4,632	4,015	3,464	2,398
Cost of revenue	2,050	1,785	1,594	1,378	1,157	781
Gross profit	3,828	3,588	3,038	2,637	2,307	1,617
Selling, general & administrative expenses	2,327	2,128	1,868	1,606	1,386	1,084
Research & development	–	–	–	–	–	–
Depreciation/amortization	207	178	153	137	127	118
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0.3	1.2	0.3	1.6	0.7	2.3
Other operating expenses	820	764	663	571	497	390
Operating income	475	517	354	320	297	23.8
Net interest income (expense)	6.0	8.0	4.3	1.1	−4.3	−4.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	481	524	358	321	293	19.3
Provision for taxes	66.4	80.1	44.6	43.7	39.6	−15.7
Minority interest	−8.8	−10.8	−8.8	−7.8	−8.0	−3.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	406	434	305	270	245	31.3
Extraordinary items	–	–	–	–	–	–
Net income	406	434	305	270	245	31.3
EBIT, normalized	475	518	354	322	298	26.1
EBITDA, normalized	682	696	507	459	425	144
Basic EPS, normalized	6.10	6.47	4.54	3.97	3.50	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Texas Roadhouse Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	135	245	104	174	336	363
Receivables	215	193	175	150	161	98.4
Total inventory	45.6	40.8	38.3	38.0	31.6	22.4
Prepaid expenses	56.7	37.4	38.4	34.7	34.9	26.7
Other current assets	0	0	0	0	0	0
Total current assets	451	517	356	397	564	511
Property, plant & equipment	2,685	2,389	2,171	1,903	1,743	1,621
Goodwill	242	170	170	149	127	127
Intangibles	17.7	1.3	3.5	5.6	1.5	2.3
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	153	114	93.0	71.8	76.9	64.3
Total assets	3,549	3,191	2,793	2,526	2,512	2,325
Liabilities
Accounts payable	163	145	132	106	95.2	67.0
Payable/accrued	–	–	–	–	–	–
Accrued expenses	297	279	240	211	206	154
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	0	50.0
Other current liabilities	449	404	374	336	301	236
Total current liabilities	909	828	745	652	602	506
Long-term debt	2.7	2.8	2.8	52.7	103	192
Minority interest	20.9	15.4	15.8	15.0	15.4	15.5
Other liabilities	1,156	986	888	793	734	684
Total liabilities	2,089	1,832	1,652	1,513	1,454	1,398
Shareholders' equity
Preferred stock	0	0	0	0	0	–
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	–	–	0	13.1	115	146
Retained earnings (accumulated deficit)	1,461	1,358	1,142	999	944	782
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	−0.1
Total equity	1,461	1,358	1,142	1,013	1,058	928
Total liabilities & shareholders' equity	3,549	3,191	2,793	2,526	2,512	2,325

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Texas Roadhouse Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	414	444	314	278	253	34.9
Depreciation, depletion & amortization	207	178	153	137	127	118
Deferred taxes	7.0	−13.8	3.1	9.5	8.9	−19.9
Non-cash items	50.7	51.4	37.5	43.5	43.7	35.7
Changes in working capital	51.4	93.5	57.5	44.0	36.2	61.9
Cash from operations	730	754	565	512	469	230
Investing activities
Capital expenditures	−394	−354	−347	−246	−201	−154
Other investing cash flows	−88.8	17.4	−20.1	−17.6	5.6	−6.7
Cash from investing	−483	−337	−367	−264	−195	−161
Financing activities
Financing cash flow items	−8.0	−15.6	−8.0	−9.5	−8.9	−3.9
Cash dividends paid	−180	−163	−147	−124	−83.7	−25.0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−169	−97.2	−112	−276	−209	215
Cash from financing	−358	−276	−267	−410	−301	186
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−111	141	−69.6	−162	−27.5	255
Free cash flow	336	399	218	266	268	76.0

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.