$TXRH

Texas Roadhouse, Inc.

CIK:0001289460|SEC Filings

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jul. 01, 2025	Jun. 30, 2026	Jul. 01, 2025
Revenue:
Total revenue	$ 1,679,976	$ 1,512,054	$ 3,313,142	$ 2,959,702
Restaurant operating costs (excluding depreciation and amortization shown separately below):
Food and beverage	591,525	511,324	1,165,827	1,002,315
Labor	544,001	495,049	1,078,620	975,024
Rent	25,247	23,028	49,960	45,505
Other operating	237,020	217,230	465,646	424,845
Pre-opening	8,492	5,464	15,128	12,276
Depreciation and amortization	58,341	50,744	115,184	99,544
Impairment and closure, net	153	111	153	139
General and administrative	72,409	62,763	133,495	118,980
Total costs and expenses	1,537,188	1,365,713	3,024,013	2,678,628
Income from operations	142,788	146,341	289,129	281,074
Interest income, net	1,021	1,044	1,566	2,345
Equity income from investments in unconsolidated affiliates	182	1,426	326	1,651
Income before taxes	143,991	148,811	291,021	285,070
Income tax expense	19,477	22,118	40,512	42,318
Net income including noncontrolling interests	124,514	126,693	250,509	242,752
Less: Net income attributable to noncontrolling interests	2,581	2,608	5,143	5,005
Net income attributable to Texas Roadhouse, Inc. and subsidiaries	121,933	124,085	245,366	237,747
Other comprehensive loss, net of tax:
Unrealized loss on investments, net of tax of $12 and $30	(36)	0	(90)	0
Total comprehensive income	$ 121,897	$ 124,085	$ 245,276	$ 237,747
Net income per common share attributable to Texas Roadhouse, Inc. and subsidiaries:
Basic	$ 1.86	$ 1.87	$ 3.73	$ 3.58
Diluted	$ 1.85	$ 1.86	$ 3.72	$ 3.57
Weighted average shares outstanding:
Basic	65,696	66,373	65,809	66,429
Diluted	65,920	66,598	66,019	66,656
Cash dividends declared per share	$ 0.75	$ 0.68	$ 1.5	$ 1.36
Restaurant and other sales
Revenue:
Total revenue	$ 1,672,913	$ 1,503,974	$ 3,299,602	$ 2,944,316
Royalties and franchise fees
Revenue:
Total revenue	$ 7,063	$ 8,080	$ 13,540	$ 15,386

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jul. 01, 2025
Cash flows from operating activities:
Net income including noncontrolling interests	$ 250,509	$ 242,752
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	115,184	99,544
Deferred income taxes	7,799	(6,467)
Loss on disposition of assets	2,229	3,475
Impairment and closure costs	101	39
Equity income from investments in unconsolidated affiliates	(326)	(1,651)
Distributions of income received from investments in unconsolidated affiliates	300	605
Provision for doubtful accounts	20	4
Share-based compensation expense	26,902	23,249
Changes in operating working capital, net of acquisitions:
Receivables	140,352	128,182
Inventories	(3,807)	(4,029)
Prepaid expenses and other current assets	9,140	5,452
Other assets	(19,742)	(21,682)
Accounts payable	8,735	1,323
Deferred revenue-gift cards	(143,661)	(125,806)
Accrued wages	5,004	(10,162)
Prepaid income taxes and income taxes payable	14,576	(6,622)
Accrued taxes and licenses	1,926	(7,231)
Other accrued liabilities	(4,958)	13,870
Operating lease right-of-use assets and lease liabilities	5,412	4,226
Other liabilities	23,532	26,909
Net cash provided by operating activities	439,227	365,980
Cash flows from investing activities:
Capital expenditures-property and equipment	(178,845)	(169,912)
Acquisitions of franchise restaurants, net of cash acquired	(71,778)	(93,878)
Purchases of debt securities	(5,335)	0
Proceeds from sale of investments in unconsolidated affiliates	0	1,321
Proceeds from sale of property and equipment	0	135
Proceeds from sale leaseback transactions	13,975	2,807
Net cash used in investing activities	(241,983)	(259,527)
Cash flows from financing activities:
Proceeds from revolving credit facility	70,000	0
Payments on revolving credit facility	(20,000)	0
Debt issuance costs	0	(1,525)
Distributions to noncontrolling interest holders	(4,783)	(4,953)
Proceeds from restricted stock and other deposits, net	433	390
Indirect repurchase of shares for minimum tax withholdings	(4,668)	(18,083)
Repurchase of shares of common stock, including excise taxes as applicable	(71,845)	(60,414)
Dividends paid to shareholders	(98,663)	(90,292)
Net cash used in financing activities	(129,526)	(174,877)
Net increase (decrease) in cash and cash equivalents	67,718	(68,424)
Cash and cash equivalents-beginning of period	134,709	245,225
Cash and cash equivalents-end of period	202,427	176,801
Supplemental disclosures of cash flow information:
Interest paid, net of amounts capitalized	676	447
Income taxes paid	18,137	54,936
Capital expenditures included in current liabilities	$ 46,002	$ 45,186

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 30, 2025
Current assets:
Cash and cash equivalents	$ 202,427	$ 134,709
Receivables, net of allowance for doubtful accounts of $32 at June 30, 2026 and $12 at December 30, 2025	74,139	214,511
Inventories, net	49,687	45,560
Prepaid income taxes	1,098	13,774
Prepaid expenses and other current assets	34,547	42,922
Total current assets	361,898	451,476
Property and equipment, net of accumulated depreciation of $1,460,453 at June 30, 2026 and $1,379,207 at December 30, 2025	1,886,572	1,803,841
Operating lease right-of-use assets, net	942,110	879,521
Goodwill	275,036	242,220
Intangible assets, net of accumulated amortization of $33,957 at June 30, 2026 and $29,611 at December 30, 2025	26,485	17,742
Other assets	179,965	154,672
Total assets	3,672,066	3,549,472
Current liabilities:
Current portion of operating lease liabilities	32,837	30,953
Accounts payable	179,035	163,421
Deferred revenue-gift cards	305,900	448,744
Accrued wages	102,384	97,380
Income taxes payable	2,023	123
Accrued taxes and licenses	54,617	53,421
Other accrued liabilities	113,997	114,795
Total current liabilities	790,793	908,837
Operating lease liabilities, net of current portion	1,004,717	943,070
Long-term debt	50,000	0
Restricted stock and other deposits	9,330	9,525
Deferred tax liabilities, net	22,245	14,682
Other liabilities	215,187	191,656
Total liabilities	2,092,272	2,067,770
Texas Roadhouse, Inc. and subsidiaries stockholders' equity:
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, 65,585,589 and 65,943,730 shares issued and outstanding at June 30, 2026 and December 30, 2025, respectively)	66	66
Retained earnings	1,558,576	1,460,754
Accumulated other comprehensive loss	(90)	0
Total Texas Roadhouse, Inc. and subsidiaries stockholders' equity	1,558,552	1,460,820
Noncontrolling interests	21,242	20,882
Total equity	1,579,794	1,481,702
Total liabilities and equity	$ 3,672,066	$ 3,549,472