Company Valuation: Texas Roadhouse, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,299 6,086 8,163 12,021 11,073 10,820 - -
Change - -3.38% 34.13% 47.27% -7.89% -2.28% - -
Enterprise Value (EV) 1 6,063 5,962 8,059 11,776 10,938 10,685 10,605 10,459
Change - -1.67% 35.17% 46.13% -7.11% -2.32% -0.75% -1.37%
P/E 25.8x 22.9x 26.9x 27.9x 27.4x 25x 21.1x 17.4x
PBR 5.93x 6.1x 7.19x 8.89x 7.62x 6.69x 5.95x 4.95x
PEG - 1.7x 1.9x 0.7x -4.79x 3.02x 1.2x 0.8x
Capitalization / Revenue 1.82x 1.52x 1.76x 2.24x 1.88x 1.65x 1.51x 1.39x
EV / Revenue 1.75x 1.48x 1.74x 2.19x 1.86x 1.63x 1.48x 1.35x
EV / EBITDA 14.3x 13x 15.9x 17x 16.1x 14.3x 12.3x 10.6x
EV / EBIT 20.4x 18.6x 22.8x 22.8x 23x 20.8x 17.5x 14.5x
EV / FCF 22.6x 22.4x 37x 29.5x 32x 26.8x 22.6x 18.4x
FCF Yield 4.42% 4.45% 2.7% 3.39% 3.13% 3.74% 4.42% 5.42%
Dividend per Share 2 1.2 1.84 2.2 2.44 2.72 2.975 3.18 3.441
Rate of return 1.33% 2.02% 1.8% 1.35% 1.62% 1.8% 1.93% 2.09%
EPS 2 3.5 3.97 4.54 6.47 6.1 6.604 7.801 9.452
Distribution rate 34.3% 46.3% 48.5% 37.7% 44.6% 45% 40.8% 36.4%
Net sales 1 3,464 4,015 4,632 5,373 5,878 6,541 7,157 7,768
EBITDA 1 424 457.4 507.2 694.7 681.4 749.7 860.1 990.3
EBIT 1 297.2 320.2 354 516.5 474.7 512.8 605.3 722.5
Net income 1 245.3 269.8 304.9 433.6 405.6 435.3 511 614
Net Debt 1 -235.6 -123.9 -104.2 -245.2 -134.7 -135.5 -215.3 -360.9
Reference price 2 90.44 90.95 122.23 180.19 167.40 164.84 164.84 164.84
Nbr of stocks (in thousands) 69,645 66,915 66,783 66,714 66,146 65,641 - -
Announcement Date 2/22/22 2/16/23 2/15/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.15x1.65x14.36x1.79% 10.9B
31.31x0.97x12.59x0.84% 14.92B
15.69x1.41x9.28x-.--% 8.64B
23.19x1.37x14.58x1.19% 5.13B
17.01x0.76x6.2x1.45% 2.4B
56.37x - - 0.66% 2.04B
14.9x0.89x4.55x2.61% 1.91B
27.57x - - -.--% 1.31B
22.69x - - 1.39% 474M
Average 25.99x 1.17x 10.26x 1.1% 5.3B
Weighted average by Cap. 25.71x 1.26x 11.91x 1.02%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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