Texas Roadhouse (TXRH) financial statements
Texas Roadhouse reported revenue of $5.9B in fiscal 2025, up 12.8% a year over 9 years.
Net income was $406M and the operating margin 8.1%, against 8.6% in 2016.
Free cash flow was $342M, and the company returned $180M in dividends and $150M in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Texas Roadhouse's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0B | $2.2B | $2.5B | $2.8B | $2.4B | $3.5B | $4.0B | $4.6B | $5.4B | $5.9B |
| Cost of revenue | — | $722M | $795M | $883M | $2.1B | $2.9B | $3.4B | $3.9B | — | — |
| Gross profit | — | $1.5B | $1.7B | $1.9B | — | — | — | — | — | — |
| Selling, general and admin | $111M | $123M | $136M | $149M | $120M | $157M | $173M | $198M | $223M | $227M |
| Operating income | $172M | $186M | $188M | $212M | $24M | $297M | $320M | $354M | $517M | $475M |
| Interest expense | $1M | $2M | — | — | — | — | — | — | — | — |
| Pre-tax income | $172M | $186M | $189M | $214M | $19M | $293M | $321M | $358M | $524M | $481M |
| Income tax | $51M | $49M | $24M | $32M | -$16M | $40M | $44M | $45M | $80M | $66M |
| Net income | $116M | $132M | $158M | $174M | $31M | $245M | $270M | $305M | $434M | $406M |
| EPS (diluted) | $1.63 | $1.84 | $2.20 | $2.46 | $0.45 | $3.50 | $3.97 | $4.54 | $6.47 | $6.10 |
| Diluted shares | 71M | 72M | 72M | 71M | 70M | 70M | 68M | 67M | 67M | 67M |
| Gross margin | — | 67.5% | 67.6% | 67.9% | — | — | — | — | — | — |
| Operating margin | 8.6% | 8.4% | 7.6% | 7.7% | 1.0% | 8.6% | 8.0% | 7.6% | 9.6% | 8.1% |
| Net margin | 5.8% | 5.9% | 6.4% | 6.3% | 1.3% | 7.1% | 6.7% | 6.6% | 8.1% | 6.9% |
Balance sheet
Fiscal years, from Texas Roadhouse's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $113M | $151M | $210M | $108M | $363M | $336M | $174M | $104M | $245M | $135M |
| Receivables | $56M | $76M | $92M | $99M | $98M | $161M | $150M | $175M | $193M | $215M |
| Inventory | $16M | $16M | $19M | $20M | $22M | $32M | $38M | $38M | $41M | $46M |
| Total current assets | $200M | $257M | $345M | $248M | $511M | $564M | $397M | $356M | $517M | $451M |
| Property, plant and equipment | $830M | $912M | $957M | $1.1B | $1.1B | $1.2B | $1.3B | $1.5B | $1.6B | $1.8B |
| Goodwill | $117M | $121M | $123M | $125M | $127M | $127M | $149M | $170M | $170M | $242M |
| Total assets | $1.2B | $1.3B | $1.5B | $2.0B | $2.3B | $2.5B | $2.5B | $2.8B | $3.2B | $3.5B |
| Total current liabilities | $280M | $330M | $385M | $417M | $506M | $602M | $652M | $745M | $828M | $909M |
| Long-term debt | $52M | $52M | $2M | — | $190M | $100M | $50M | $0 | — | $0 |
| Total liabilities | $422M | $479M | $509M | $1.1B | $1.4B | $1.4B | $1.5B | $1.6B | $1.8B | $2.1B |
| Shareholders' equity | $750M | $839M | $946M | $916M | $928M | $1.1B | $1.0B | $1.1B | $1.4B | $1.5B |
| Net debt | -$61M | -$99M | -$208M | -$108M | -$123M | -$236M | -$124M | -$104M | -$245M | -$135M |
Cash flow
Fiscal years, from Texas Roadhouse's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $257M | $286M | $353M | $374M | $230M | $469M | $512M | $565M | $754M | $730M |
| Capital spending | $165M | $162M | $156M | $214M | $154M | $201M | $246M | $347M | $354M | $388M |
| Free cash flow | $92M | $125M | $197M | $160M | $76M | $268M | $266M | $218M | $399M | $342M |
| Stock-based compensation | $26M | $27M | $34M | $36M | $29M | $38M | $37M | $34M | $47M | $48M |
| Dividends paid | $52M | $58M | $69M | $102M | $25M | $84M | $124M | $147M | $163M | $180M |
| Share buybacks (net) | -$4M | — | — | -$140M | -$13M | -$52M | -$213M | -$50M | -$80M | -$150M |
| Free cash flow margin | 4.6% | 5.6% | 8.0% | 5.8% | 3.2% | 7.7% | 6.6% | 4.7% | 7.4% | 5.8% |
| Dividends per share | $0.73 | $0.81 | $0.95 | $1.44 | $0.36 | $1.19 | $1.83 | $2.19 | $2.43 | $2.71 |
Questions
What was Texas Roadhouse's revenue in 2025?
$5.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Texas Roadhouse generate?
$342M in fiscal 2025 (operating cash flow minus capital spending).
From Texas Roadhouse's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.