Texas Roadhouse, Inc.

Listed Company

TXRHCIK 0001289460NasdaqLarge AcceleratedRetail-Eating PlacesDelawareFY ends Dec 29

Period

FY 2025

Revenue

$5.88B

Net Income

$414.33M

Total Assets

$3.55B

Equity

$1.46B

Shares Out

65.93M

Op. Cash Flow

$730.07M

Business

Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment, running company‑owned and franchised restaurants under multiple concepts. It offers moderately priced full‑service dining featuring hand‑cut steaks, ribs, seafood, chicken, burgers, made‑from‑scratch sides and full bars, plus Bubba’s 33 burgers, pizza and wings and Jaggers fast‑casual burgers, chicken and milkshakes, along with retail and digital ordering initiatives. The company manages operations and franchising across four operating segments: Texas Roadhouse, Bubba’s 33, Jaggers, and retail initiatives. It distributes through company and franchise restaurants across 49 states, one U.S. territory and multiple international markets, using dine‑in, drive‑thru, delivery, pickup and retail channels.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	5,878	5,373	4,632	4,015	3,464
Food and Beverage	2,050	1,785	1,594	1,378	1,157
Labor	1,944	1,765	1,539	1,320	1,123
Rent	92	81	73	67	60
Other operating	855	796	691	596	518
Pre-opening	28	28	29	22	24
Depreciation and amortization	207	178	153	137	127
Impairment and closure, net	300,000	1	300,000	2	700,000
General and administrative	227	223	198	173	157
Total costs and expenses	5,403	4,857	4,278	3,695	3,167
Income from operations	475	517	354	320	297
Interest income, net	3	7	3	−124,000	−4
Equity income from investments in unconsolidated affiliates	3	1	1	1	−637,000
Income before taxes	481	524	358	321	293
Income tax expense	66	80	45	44	40
Net income including noncontrolling interests	414	444	314	278	253
Less: Net income attributable to noncontrolling interests	9	11	9	8	8
Net income attributable to Texas Roadhouse, Inc. and subsidiaries	406	434	305	270	245
Basic (per share)	6.11	6.5	4.56	3.99	3.52
Diluted (per share)	6.1	6.47	4.54	3.97	3.5
Basic (shares)	66	67	67	68	70
Diluted (shares)	67	67	67	68	70
Cash dividends declared per share	2.72	2.44	2.2	1.84	1.2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	135	245	104	174	336
Receivables, net of allowance for doubtful accounts of $12 at December 30, 2025 and $7 at December 31, 2024	215	193	175	150	161
Inventories, net	46	41	38	38	32
Prepaid income taxes	14	0	3	5	11
Prepaid expenses and other current assets	43	37	35	30	24
Total current assets	451	517	356	397	564
Property and equipment, net of accumulated depreciation of $1,379,207 at December 30, 2025 and $1,223,064 at December 31, 2024	1,804	1,618	1,475	1,270	1,162
Operating lease right-of-use assets, net	880	770	694	630	578
Goodwill	242	170	170	149	127
Intangible assets, net of accumulated amortization of $29,611 at December 30, 2025 and $23,147 at December 31, 2024	18	1	—	—	—
Other assets	155	116	95	74	79
Total assets	3,549	3,191	2,793	2,526	2,512
Current portion of operating lease liabilities	31	28	27	25	22
Accounts payable	163	145	132	106	95
Deferred revenue-gift cards	449	401	374	335	301
Accrued wages	97	102	68	55	65
Income taxes payable	123,000	3	112,000	434,000	85,000
Accrued taxes and licenses	53	57	43	35	33
Other accrued liabilities	115	92	102	95	86
Total current liabilities	909	828	745	652	602
Operating lease liabilities, net of current portion	943	826	743	678	623
Restricted stock and other deposits	10	9	9	8	8
Deferred tax liabilities, net	15	8	23	21	12
Other liabilities	192	145	115	89	94
Total liabilities	2,068	1,817	1,636	1,498	1,438
Preferred stock ($0.001 par value, 1,000,000 shares authorized; no shares issued or outstanding)	—	—	—	—	—
Common stock ($0.001 par value, 100,000,000 shares authorized, 65,943,730 and 66,574,626 shares issued and outstanding at December 30, 2025 and December 31, 2024, respectively)	66,000	67,000	67,000	67,000	69,000
Retained earnings	1,461	1,358	1,142	999	944
Total Texas Roadhouse, Inc. and subsidiaries stockholders' equity	1,461	1,358	1,142	1,013	1,058
Noncontrolling interests	21	15	16	15	15
Total equity	1,482	1,374	1,158	1,028	1,073
Total liabilities and equity	3,549	3,191	2,793	2,526	2,512

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	7	−14	3	9	9
Loss on disposition of assets	5	4	4	5	3
Impairment and closure costs	120,000	845,000	200,000	2	673,000
Distributions of income received from investments in unconsolidated affiliates	865,000	1	689,000	1	1
Provision for doubtful accounts	5,000	−28,000	−14,000	33,000	7,000
Share-based compensation expense	48	47	34	37	38
Receivables	−21	−18	−24	11	−62
Inventories	−4	−2	105,000	−6	−9
Prepaid expenses and other current assets	−5	−2	−6	−7	−2
Other assets	−32	−20	−23	6	−14
Accounts payable	19	13	23	5	28
Deferred revenue-gift cards	45	27	37	34	68
Accrued wages	−5	34	14	−10	13
Prepaid income taxes and income taxes payable	−17	6	2	6	−9
Accrued taxes and licenses	−4	14	7	2	9
Other accrued liabilities	19	3	−3	2	20
Operating lease right-of-use assets and lease liabilities	9	8	6	5	6
Other liabilities	47	30	25	−5	−10
Net cash provided by operating activities	730	754	565	512	469
Capital expenditures-property and equipment	−388	−354	−347	−246	−201
Acquisitions of franchise restaurants, net of cash acquired	−108	0	−39	−33	0
Acquisitions of franchise rights	−6	0	0	—	—
Purchases of debt securities	−4	0	0	—	—
Proceeds from sale of investments in unconsolidated affiliates	3	0	627,000	316,000	0
Proceeds from sale of property and equipment	1	1	2	2	0
Proceeds from sale leaseback transactions	19	16	16	13	6
Net cash used in investing activities	−483	−337	−367	−264	−195
Payments on revolving credit facility	0	0	−50	−50	−140
Debt issuance costs	−2	0	0	0	−708,000
Proceeds from noncontrolling interest contribution	2	0	0	—	—
Distributions to noncontrolling interest holders	−9	−10	−8	−8	−8
Acquisitions of noncontrolling interests	0	−5	0	−2	0
Proceeds from restricted stock and other deposits, net	459,000	366,000	405,000	307,000	602,000
Indirect repurchase of shares for minimum tax withholdings	−19	−18	−13	−14	−18
Repurchase of shares of common stock, including excise taxes as applicable	−150	−80	−50	−213	−52
Dividends paid to shareholders	−180	−163	−147	−124	−84
Net cash used in financing activities	−358	−276	−267	−410	−301
Net (decrease) increase in cash and cash equivalents	−111	141	−70	−162	−28
Interest paid	981,000	891,000	1	2	3
Income taxes paid	75	87	40	26	40
Capital expenditures included in current liabilities	36	35	48	35	23

Filings

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