Texas Roadhouse (NASDAQ: TXRH) Q4 2025 earnings slide as dividend raised
Rhea-AI Filing Summary
Texas Roadhouse, Inc. reported mixed results for the fourth quarter and full year ended December 30, 2025. Fourth-quarter total revenue rose to $1,482,031,000, up 3.1% from a year earlier, but net income fell to $84,635,000, down 26.9%, with diluted EPS declining to $1.28 from $1.73. For the full year, revenue grew 9.4% to $5,878,075,000 while net income decreased 6.5% to $405,554,000 and diluted EPS slipped to $6.10 from $6.47. Restaurant margin as a percentage of sales narrowed to 13.9% in the quarter and 15.5% for the year. The board approved a higher quarterly cash dividend of $0.75 per share, payable on March 31, 2026, to shareholders of record on March 17, 2026. The filing also notes that interim CFO Keith Humpich will continue receiving a $100,000 per-quarter stipend through June 30, 2026 as he supports the transition of the new Chief Financial Officer.
Positive
- None.
Negative
- None.
Insights
Revenue grew solidly, but margins and earnings weakened even as the dividend increased.
Texas Roadhouse delivered 9.4% full-year revenue growth to $5,878,075,000, helped by higher restaurant and other sales. However, restaurant operating costs rose faster, with food and beverage, labor, rent and other operating expenses pressuring profitability.
Income from operations declined 8.1% for the year to $474,740,000, and net income fell 6.5% to $405,554,000. Quarterly restaurant margin percentage dropped from 17.0% to 13.9%, reflecting higher cost intensity despite comparable sales growth.
The board’s approval of a higher quarterly dividend of $0.75 per share, following cash dividends of $2.72 per share in 2025, signals a continued commitment to returning cash even as earnings face cost headwinds. Future filings may clarify whether margin pressure eases as the expanded restaurant base matures.
8-K Event Classification
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On February 19, 2026, Texas Roadhouse, Inc., a Delaware corporation (the “Company”), issued a press release announcing its financial results for the fourth quarter ended and fiscal year ended December 30, 2025. Attached to this Current Report on Form 8-K as Exhibit 99.1 is a copy of the press release.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)In connection with Keith Humpich’s prior appointment to interim Chief Financial Officer on June 9, 2025, the talent management and compensation committee of the Company’s Board of Directors agreed that he would receive a $100,000 stipend per fiscal quarter (or portion thereto) in which he serves in such position, which amount will be paid in arrears. Mr. Humpich served as interim Chief Financial Officer until Mike Lenihan’s appointment to Chief Financial Officer on December 3, 2025. On February 18, 2026 and in observance for his continued support of the Company in the transition of Mr. Lenihan to the Chief Financial Officer position, the talent management and compensation committee of the Company’s Board of Directors agreed that Mr. Humpich, the Company’s Chief Accounting and Financial Services Officer, would continue to receive the $100,000 per quarter stipend to and through June 30, 2026.
ITEM 8.01. OTHER EVENTS
On February 18, 2026, the Company’s Board of Directors approved the payment of a quarterly cash dividend of $0.75 per share of common stock. This payment will be distributed on March 31, 2026, to shareholders of record at the close of business on March 17, 2026.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) EXHIBITS
99.1 | Press Release issued by the Company on February 19, 2026. |
104 | Cover Page Interactive File (the cover page XBRL tags are embedded in the Inline XBRL document) |
The information in this Current Report on Form 8-K at Item 2.02 and the Exhibit 99.1 attached hereto shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
TEXAS ROADHOUSE, INC. | ||
Date: February 19, 2026 | By: | /s/ Michael S. Lenihan |
Michael S. Lenihan | ||
Chief Financial Officer | ||
3
Exhibit 99.1
Texas Roadhouse, Inc. Announces Fourth Quarter 2025 Results
Increases Quarterly Dividend to $0.75 per Share
LOUISVILLE, KY. (February 19, 2026) – Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the fourth quarter and fiscal year ended December 30, 2025.
Financial Results
Financial results for the fourth quarter and fiscal year ended December 30, 2025 and December 31, 2024 were as follows:
| | Fourth Quarter Ended | | Fiscal Year Ended | ||||||||||||
($000's, except per share amounts) | | December 30, 2025 | | December 31, 2024 | | % change | | December 30, 2025 | | December 31, 2024 | | % change | ||||
Total revenue | | $ | 1,482,031 | | $ | 1,437,914 | | 3.1% | | $ | 5,878,075 | | $ | 5,373,332 | | 9.4% |
Income from operations | |
| 96,717 | |
| 138,552 | | (30.2%) | |
| 474,740 | |
| 516,519 | | (8.1%) |
Net income | |
| 84,635 | |
| 115,833 | | (26.9%) | |
| 405,554 | |
| 433,592 | | (6.5%) |
Diluted earnings per share | | $ | 1.28 | | $ | 1.73 | | (26.1%) | | $ | 6.10 | | $ | 6.47 | | (5.8%) |
Note: Fourth quarter and fiscal year 2025 results include 13 and 52 weeks, respectively, compared to 14 and 53 weeks in the fourth quarter and fiscal year 2024, respectively.
Results for the fourth quarter ended December 30, 2025, as compared to the prior year as applicable, included the following:
| ● | Comparable restaurant sales increased 4.2% at company restaurants; |
| ● | Average weekly sales at company restaurants were $160,021 of which $22,099 were to-go sales as compared to average weekly sales of $153,867 of which $20,067 were to-go sales in the prior year; |
| ● | Restaurant margin dollars decreased 15.6% to $204.8 million from $242.6 million in the prior year primarily due to lapping the benefit of the additional week in the prior year and higher food and beverage costs partially offset by higher sales. Restaurant margin, as a percentage of restaurant and other sales, decreased 309 basis points to 13.9% as commodity inflation of 9.5% and wage and other labor inflation of 2.9% were partially offset by higher sales; |
| ● | Diluted earnings per share decreased 26.1% primarily driven by lower restaurant margin dollars and higher depreciation and amortization expenses partially offset by lower income tax expense and the impact of share repurchases. Diluted earnings per share growth was negatively impacted by approximately 12% as a result of the additional week in the prior year; |
| ● | Nine company restaurants and one franchise restaurant were opened; and |
| ● | Capital allocation spend included capital expenditures of $89.2 million, franchise acquisitions of $13.3 million, dividends of $44.9 million, and repurchases of common stock of $50.0 million. |
Results for the fiscal year ended December 30, 2025, as compared to the prior year as applicable, included the following:
| ● | Comparable restaurant sales increased 4.9% at company restaurants; |
| ● | Average weekly sales at company restaurants were $161,918 of which $21,973 were to-go sales as compared to average weekly sales of $155,285 of which $19,940 were to-go sales in the prior year; |
| ● | Restaurant margin dollars decreased 1.1% to $905.7 million from $915.8 million in the prior year primarily due to higher food and beverage costs and lapping the benefit of the additional week in the prior year partially offset by higher sales. Restaurant margin, as a percentage of restaurant and other sales, decreased 165 basis points to 15.5% as commodity inflation of 6.1% and wage and other labor inflation of 3.7% were partially offset by higher sales; |
| ● | Diluted earnings per share decreased 5.8% primarily driven by lower restaurant margin dollars and higher depreciation and amortization expenses partially offset by lower income tax expense and the impact of share repurchases. Diluted earnings per share growth was negatively impacted by approximately 4% as a result of the additional week in the prior year; |
| ● | 28 company restaurants and four franchise restaurants were opened; and |
| ● | Capital allocation spend included capital expenditures of $388.0 million, franchise acquisitions of $107.5 million, dividends of $180.3 million, and repurchases of common stock of $150.0 million. |
Jerry Morgan, Chief Executive Officer of Texas Roadhouse, Inc., commented, “We had a strong finish to the year thanks to the dedication of our operators who continued to drive traffic growth. While commodity inflation continues to pressure restaurant margin, we remain committed to preserving our value proposition and maintaining a relentless focus on operational excellence.”
Morgan added, “During 2025, we significantly increased our company store footprint through a record number of franchise acquisitions and new store development. With three growing brands and the Legendary efforts of Roadie Nation, which now stands over 100,000 Roadies strong, we are confident in our ability to continue to drive long-term shareholder value.”
Franchise Acquisitions
On the first day of our 2026 fiscal year, the Company completed the acquisitions of five domestic franchise restaurants for an aggregate purchase price of approximately $72 million.
2026 Outlook
Comparable restaurant sales at company restaurants for the first seven weeks of the first quarter of the 2026 fiscal year increased 8.2% compared to 2025. In addition, the Company plans to implement a menu price increase of approximately 1.9% in early April.
Management updated the following expectations for 2026:
| ● | An effective income tax rate of 14% to 15%. |
Management reiterated the following expectations for 2026:
| ● | Positive comparable restaurant sales growth, including the benefit of menu pricing actions; |
| ● | Store week growth of 5% to 6%, including the benefit from franchise acquisitions; |
| ● | Commodity inflation of approximately 7%; |
| ● | Wage and other labor inflation of 3% to 4%; and |
| ● | Total capital expenditures of approximately $400 million. |
Cash Dividend Payment
On February 18, 2026, the Company’s Board of Directors approved the payment of a quarterly cash dividend of $0.75 per share of common stock. This payment will be distributed on March 31, 2026, to shareholders of record at the close of business on March 17, 2026.
Non-GAAP Measures
The Company prepares the unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). Within the press release, the Company makes reference to restaurant margin (in dollars, as a percentage of restaurant and other sales, and per store week). Restaurant margin represents restaurant and other sales less restaurant-level operating costs, including food and beverage costs, labor, rent, and other operating costs. Restaurant margin should not be considered in isolation, or as an alternative, to income from operations. This non-GAAP measure is not indicative of overall company performance and profitability in that this measure does not accrue directly to the benefit of shareholders due to the nature of the costs excluded. Restaurant margin is widely regarded as a useful metric by which to evaluate core restaurant-level operating efficiency and performance over various reporting periods on a consistent basis. In calculating restaurant margin, the Company excludes certain non-restaurant-level costs that support operations, but do not have a direct impact on restaurant-level operational efficiency and performance, including pre-opening and general and administrative expenses. The Company excludes pre-opening expenses as they occur at irregular intervals and would impact comparability to prior period results. The Company excludes depreciation and amortization expenses, substantially all of which relate to restaurant-level assets, as they represent a non-cash charge for the investment in restaurants. The Company excludes impairment and closure expenses as it believes this provides a clearer perspective of ongoing operating performance and a more useful comparison to prior period results. Restaurant margin as presented may not be comparable to other similarly titled measures of other companies in the industry. A reconciliation of income from operations to restaurant margin is included in the accompanying financial tables.
Conference Call
Texas Roadhouse, Inc. is hosting a conference call today, February 19, 2026, at 5:00 p.m. Eastern Time to discuss these results. The call will be webcast live from the investor relations portion of the Company’s website at www.texasroadhouse.com. Listeners may also access the call by dialing (888) 440-5667 or (646) 960-0476 for international calls and referencing the Texas Roadhouse, Inc. Fourth Quarter 2025 Earnings. A replay of the call will be available until February 26, 2026, by dialing (800) 770-2030 or (609) 800-9909 for international calls and using conference ID 7714420.
About the Company
Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 820 restaurants system-wide in 49 states, one U.S. territory, and ten foreign countries. For more information, please visit the Company’s Web site at www.texasroadhouse.com.
Forward-looking Statements
Certain statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon the current beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, conditions beyond management’s control such as weather, natural disasters, disease outbreaks, epidemics, or pandemics impacting customers or food supplies; labor or supply chain shortages or limited availability of staff or product needed to meet the Company’s business standards; changes in consumer discretionary spending and macroeconomic conditions, including inflationary pressures and the impact of tariffs; food safety and food-borne illness concerns; and other factors disclosed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Part I—Item 1A. Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 31, 2024. These factors should not be construed as exhaustive and should be read in conjunction with other filings with the Securities and Exchange Commission. Investors should take such risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
# # #
Contacts:
Investor Relations | Media |
Michael Bailen | Megan Pence |
(502) 515-7298 | (502) 461-1878 |
Texas Roadhouse, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(in thousands, except per share data)
(unaudited)
| | Fourth Quarter Ended | | Fiscal Year Ended | ||||||||
| | December 30, 2025 | | December 31, 2024 | | December 30, 2025 | | December 31, 2024 | ||||
Revenue: |
| | |
| | |
| | |
| | |
Restaurant and other sales |
| $ | 1,473,807 | | $ | 1,428,780 |
| $ | 5,847,234 | | $ | 5,341,853 |
Royalties and franchise fees |
| | 8,224 | |
| 9,134 |
| | 30,841 | |
| 31,479 |
Total revenue |
| | 1,482,031 | |
| 1,437,914 |
| | 5,878,075 | |
| 5,373,332 |
Costs and expenses: |
| | | |
| |
| | | |
| |
Restaurant operating costs (excluding depreciation and amortization shown separately below): |
| | | |
| |
| | | |
| |
Food and beverage |
| | 535,841 | | | 479,461 | | | 2,049,687 | | | 1,785,119 |
Labor |
| | 489,095 | | | 471,511 | | | 1,944,416 | | | 1,764,740 |
Rent |
| | 23,731 | | | 21,017 | | | 92,321 | | | 80,560 |
Other operating |
| | 220,330 | | | 214,142 | | | 855,092 | | | 795,657 |
Pre-opening |
| | 7,807 | | | 6,511 | | | 27,502 | | | 28,090 |
Depreciation and amortization |
| | 54,468 | | | 49,239 | | | 206,640 | | | 178,157 |
Impairment and closure, net |
| | 70 | | | 91 | | | 349 | | | 1,226 |
General and administrative |
| | 53,972 | | | 57,390 | | | 227,328 | | | 223,264 |
Total costs and expenses |
| | 1,385,314 | |
| 1,299,362 |
| | 5,403,335 | |
| 4,856,813 |
Income from operations |
| | 96,717 | |
| 138,552 |
| | 474,740 | |
| 516,519 |
Interest income, net |
| | 149 | | | 1,767 | | | 3,137 | | | 6,774 |
Equity income from investments in unconsolidated affiliates |
| | 1,108 | | | 419 | | | 2,879 | | | 1,197 |
Income before taxes |
| | 97,974 | |
| 140,738 |
| | 480,756 | |
| 524,490 |
Income tax expense |
| | 11,291 | | | 22,232 | | | 66,421 | | | 80,145 |
Net income including noncontrolling interests |
| | 86,683 | |
| 118,506 |
| | 414,335 | |
| 444,345 |
Less: Net income attributable to noncontrolling interests |
| | 2,048 | | | 2,673 | | | 8,781 | | | 10,753 |
Net income attributable to Texas Roadhouse, Inc. and subsidiaries | | $ | 84,635 | | $ | 115,833 | | $ | 405,554 | | $ | 433,592 |
| | | | | | | | | | | | |
Net income per common share attributable to Texas Roadhouse, Inc. and subsidiaries: | |
| | |
| | |
| | |
| |
Basic | | $ | 1.28 | | $ | 1.74 | | $ | 6.11 | | $ | 6.50 |
Diluted | | $ | 1.28 | | $ | 1.73 | | $ | 6.10 | | $ | 6.47 |
Weighted average shares outstanding: | |
| | |
| | |
| | |
| |
Basic | |
| 66,078 | | | 66,680 | | | 66,324 | | | 66,752 |
Diluted | |
| 66,250 | | | 66,998 | | | 66,511 | | | 67,011 |
Cash dividends declared per share | | $ | 0.68 | | $ | 0.61 | | $ | 2.72 | | $ | 2.44 |
Texas Roadhouse, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
| | December 30, 2025 | | December 31, 2024 | ||
Cash and cash equivalents |
| $ | 134,709 | | $ | 245,225 |
Other current assets, net |
| | 316,767 | |
| 271,343 |
Property and equipment, net |
| | 1,803,841 | |
| 1,617,673 |
Operating lease right-of-use assets, net |
| | 879,521 | |
| 769,865 |
Goodwill |
| | 242,220 | |
| 169,684 |
Intangible assets, net |
| | 17,742 | |
| 1,265 |
Other assets |
| | 154,672 | |
| 115,724 |
Total assets | | $ | 3,549,472 | | $ | 3,190,779 |
| | | | | | |
Current liabilities | |
| 908,837 | |
| 828,130 |
Operating lease liabilities, net of current portion | |
| 943,070 | |
| 826,300 |
Other liabilities | |
| 215,863 | |
| 162,626 |
Texas Roadhouse, Inc. and subsidiaries stockholders’ equity | |
| 1,460,820 | |
| 1,358,347 |
Noncontrolling interests | |
| 20,882 | |
| 15,376 |
Total liabilities and equity | | $ | 3,549,472 | | $ | 3,190,779 |
Texas Roadhouse, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
| | Fiscal Year Ended | ||||
| | December 30, 2025 | | December 31, 2024 | ||
Cash flows from operating activities: |
| | |
| | |
Net income including noncontrolling interests |
| $ | 414,335 | | $ | 444,345 |
Adjustments to reconcile net income to net cash provided by operating activities |
| | | |
| |
Depreciation and amortization |
| | 206,640 | |
| 178,157 |
Share-based compensation expense |
| | 47,765 | |
| 47,055 |
Deferred income taxes |
| | 7,025 | |
| (13,803) |
Other noncash adjustments, net |
| | 2,920 | |
| 4,325 |
Change in working capital, net of acquisitions |
| | 51,382 | |
| 93,550 |
Net cash provided by operating activities |
| | 730,067 | |
| 753,629 |
Cash flows from investing activities: |
| | | |
| |
Capital expenditures - property and equipment |
| | (387,996) | | | (354,341) |
Acquisitions of franchise restaurants, net of cash acquired |
| | (107,528) | |
| — |
Other investing activities, net | | | 12,710 | | | 17,440 |
Net cash used in investing activities |
| | (482,814) | |
| (336,901) |
Cash flows from financing activities: |
| | | |
| |
Repurchase of shares of common stock, including excise taxes as applicable |
| | (150,437) | | | (80,003) |
Dividends paid to shareholders |
| | (180,262) | | | (162,864) |
Other financing activities, net |
| | (27,070) | | | (32,882) |
Net cash used in financing activities |
| | (357,769) | |
| (275,749) |
Net (decrease) increase in cash and cash equivalents |
| | (110,516) | |
| 140,979 |
Cash and cash equivalents - beginning of period |
| | 245,225 | | | 104,246 |
Cash and cash equivalents - end of period | | $ | 134,709 | | $ | 245,225 |
Texas Roadhouse, Inc. and Subsidiaries
Reconciliation of Income from Operations to Restaurant Margin
($ in thousands)
(unaudited)
| | Fourth Quarter Ended | | Fiscal Year Ended | ||||||||
| | December 30, 2025 | | December 31, 2024 | | December 30, 2025 | | December 31, 2024 | ||||
Income from operations | | $ | 96,717 | | $ | 138,552 | | $ | 474,740 | | $ | 516,519 |
| | | | | | | | | | | | |
Less: | |
| | |
| | |
| | |
| |
Royalties and franchise fees | |
| 8,224 | |
| 9,134 | |
| 30,841 | |
| 31,479 |
| | | | | | | | | | | | |
Add: | |
| | |
| | |
| | |
| |
Pre-opening | |
| 7,807 | |
| 6,511 | |
| 27,502 | |
| 28,090 |
Depreciation and amortization | |
| 54,468 | |
| 49,239 | |
| 206,640 | |
| 178,157 |
Impairment and closure, net | |
| 70 | |
| 91 | |
| 349 | |
| 1,226 |
General and administrative | |
| 53,972 | |
| 57,390 | |
| 227,328 | |
| 223,264 |
| | | | | | | | | | | | |
Restaurant margin | | $ | 204,810 | | $ | 242,649 | | $ | 905,718 | | $ | 915,777 |
| | | | | | | | | | | | |
Restaurant margin (as a percentage of restaurant and other sales) | | | 13.9% | |
| 17.0% | | | 15.5% | | | 17.1% |
Texas Roadhouse, Inc. and Subsidiaries
Supplemental Financial and Operating Information
($ amounts in thousands, except restaurant margin $ per
store week and weekly sales by group)
(unaudited)
| | Fourth Quarter Ended |
| ||||||
| | December 30, 2025 | | December 31, 2024 | | Change | |||
Company restaurants (all concepts) |
| | |
| | |
| | |
Restaurant and other sales | | $ | 1,473,807 | | $ | 1,428,780 |
| 3.2 | % |
Store weeks | |
| 9,224 | | | 9,276 |
| (0.6) | % |
Comparable restaurant sales (1) | |
| 4.2 | % |
| 7.7 | % | | |
| | | | | | | | | |
Restaurant operating costs (as a % of restaurant and other sales) | |
| | |
| |
| | |
Food and beverage costs | |
| 36.4 | % |
| 33.5 | % | (281) | bps |
Labor | |
| 33.2 | % |
| 33.0 | % | (18) | bps |
Rent | |
| 1.6 | % |
| 1.5 | % | (14) | bps |
Other operating | |
| 14.9 | % |
| 15.0 | % | 4 | bps |
Total | |
| 86.1 | % |
| 83.0 | % | | |
| | | | | | | | | |
Restaurant margin % | |
| 13.9 | % |
| 17.0 | % | (309) | bps |
Restaurant margin $ | | $ | 204,810 | | $ | 242,649 |
| (15.6) | % |
Restaurant margin $/Store week | | $ | 22,204 | | $ | 26,159 |
| (15.1) | % |
| | | | | | | | | |
Texas Roadhouse restaurants only: | |
| | |
| |
| | |
Store weeks | |
| 8,375 | | | 8,478 |
| (1.2) | % |
Comparable restaurant sales (1) | |
| 4.4 | % |
| 7.8 | % | | |
Average unit volume (2) | | $ | 2,144 | | $ | 2,220 |
| (3.4) | % |
Average unit volume, 2024 adjusted (3) | | $ | 2,144 | | $ | 2,066 | | 3.8 | % |
Weekly sales by group: | |
| | |
| |
| | |
Comparable restaurants (611 and 564 units) | | $ | 165,822 | | $ | 159,260 |
| 4.1 | % |
Average unit volume restaurants (24 and 27 units) | | $ | 142,569 | | $ | 130,282 |
| 9.4 | % |
Restaurants less than 6 months old (13 and 17 units) | | $ | 162,834 | | $ | 158,119 |
| 3.0 | % |
| | | | | | | | | |
Bubba’s 33 restaurants only: | |
| | |
| |
| | |
Store weeks | |
| 719 | | | 680 |
| 5.7 | % |
Comparable restaurant sales (1) | |
| 1.0 | % |
| 6.7 | % | | |
Average unit volume (2) | | $ | 1,517 | | $ | 1,626 |
| (6.7) | % |
Average unit volume, 2024 adjusted (3) | | $ | 1,517 | | $ | 1,509 | | 0.5 | % |
Weekly sales by group: | |
| | |
| |
| | |
Comparable restaurants (45 and 40 units) | | $ | 117,276 | | $ | 117,098 |
| 0.2 | % |
Average unit volume restaurants (5 and 5 units) | | $ | 111,190 | | $ | 108,687 |
| 2.3 | % |
Restaurants less than 6 months old (6 and 4 units) | | $ | 145,210 | | $ | 129,924 |
| 11.8 | % |
| | | | | | | | | |
Texas Roadhouse franchise restaurants only: | |
| | |
| |
| | |
Store weeks | |
| 1,242 | | | 1,576 |
| (21.2) | % |
Comparable restaurant sales | |
| 5.3 | % |
| 5.6 | % | | |
| (1) | Comparable restaurant sales reflect the change in sales for all company restaurants across all concepts, unless otherwise noted, over the same period of the prior year for restaurants open a full 18 months before the beginning of the period, excluding sales from restaurants permanently closed during the period, if applicable. |
| (2) | Average unit volume includes sales from restaurants open for a full six months before the beginning of the period, excluding sales from restaurants permanently closed during the period, if applicable. |
| (3) | For comparative purposes, Q4 2024 was adjusted to include 13 weeks. |
Texas Roadhouse, Inc. and Subsidiaries
Restaurant Unit Activity
(unaudited)
| | Fourth Quarter Ended | | Fiscal Year Ended | ||||
| | December 30, 2025 | December 31, 2024 | Change | | December 30, 2025 | December 31, 2024 | Change |
Restaurant openings | | | | | | | | |
Company - Texas Roadhouse | | 7 | 7 | — | | 20 | 26 | (6) |
Company - Bubba’s 33 | | 2 | 1 | 1 | | 7 | 4 | 3 |
Company - Jaggers | | — | 1 | (1) | | 1 | 1 | — |
Total company restaurants | | 9 | 9 | — | | 28 | 31 | (3) |
| | | | | | | | |
Franchise - Jaggers - Domestic | | — | 1 | (1) | | 1 | 2 | (1) |
Franchise - Texas Roadhouse - Int'l (1) | | 1 | 3 | (2) | | 3 | 11 | (8) |
Franchise - Jaggers - Int'l | | — | 1 | (1) | | — | 1 | (1) |
Total franchise restaurants | | 1 | 5 | (4) | | 4 | 14 | (10) |
| | | | | | | | |
Total restaurants |
| 10 | 14 | (4) | | 32 | 45 | (13) |
| | | | | | | | |
Restaurant acquisitions/dispositions | | | | | | | | |
Company - Texas Roadhouse | | 3 | — | 3 | | 20 | — | 20 |
Franchise - Texas Roadhouse - Domestic | | (3) | — | (3) | | (20) | — | (20) |
| | | | | | | | |
Restaurant closures | | | | | | | | |
Franchise - Texas Roadhouse - International | | — | (2) | 2 | | — | (2) | 2 |
| | | | | | | | |
Restaurants open at the end of the quarter | | | | | | | | |
Company - Texas Roadhouse | | 648 | 608 | 40 | | | | |
Company - Bubba’s 33 | | 56 | 49 | 7 | | | | |
Company - Jaggers | | 10 | 9 | 1 | | | | |
Total company restaurants | | 714 | 666 | 48 | | | | |
| | | | | | | | |
Franchise - Texas Roadhouse - Domestic | | 36 | 56 | (20) | | | | |
Franchise - Jaggers - Domestic | | 5 | 4 | 1 | | | | |
Franchise - Texas Roadhouse - Int'l (1) | | 60 | 57 | 3 | | | | |
Franchise - Jaggers - Int'l | | 1 | 1 | — | | | | |
Total franchise restaurants | | 102 | 118 | (16) | | | | |
| | | | | | | | |
Total restaurants |
| 816 | 784 | 32 | | | | |
| (1) | Includes a U.S. territory. |