Texas Roadhouse (TXRH) FY2019 results: revenue $2.8 billion, up 12.2% on the year
Texas Roadhouse, Inc. (TXRH) reported revenue of $2.8 billion for fiscal 2019, the year ended 31 December 2019, up 12.2% on the year before. Net income was $174 million, up 10.3%, and diluted earnings per share $2.46. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$2.8 billion
+12.2% on the year
FY2012FY2019
Operating margin
7.7%
7.6% a year earlier
FY2012FY2019
Net income
$174 million
+10.3% on the year
FY2012FY2019
Diluted EPS
$2.46
+11.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,756
2,457
2,220
+12.2%
Cost of revenue
2,260
n/a
n/a
Gross profit
496
n/a
n/a
Gross margin
18.0%
n/a
n/a
Operating income
212
188
186
+12.9%
Operating margin
7.7%
7.6%
8.4%
Interest expense
n/a
0.6
1.6
Pre-tax income
214
189
186
+13.5%
Income tax
32.4
24.3
48.6
+33.6%
Effective tax rate
15.1%
12.9%
26.1%
Net income
174
158
132
+10.3%
Net margin
6.3%
6.4%
5.9%
Diluted EPS
$2.46
$2.20
$1.84
+11.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
374
353
286
+6.1%
Capital expenditure
214
156
162
+37.4%
Free cash flow
160
197
125
-18.8%
Free cash flow margin
5.8%
8.0%
5.6%
Cash from investing
-215
-158
-178
Cash from financing
-262
-136
-70.2
Depreciation and amortisation
116
101
93.5
+14.2%
Share-based compensation
35.5
34.0
26.9
+4.5%
Buybacks
140
n/a
n/a
Dividends paid
102
68.5
58.2
+49.3%
Dividend per share
$1.20
$1.00
$0.84
+20.0%
Diluted shares, weighted
71m
72m
72m
-1.5%
Shares outstanding at period end
69m
72m
71m
-3.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
916
946
839
-3.1%
Non-controlling interest
15.2
15.1
12.3
+0.2%
Debt
0.0
2.1
52.0
Operating lease liabilities
539
n/a
n/a
Other liabilities
514
506
427
+1.4%
Total liabilities and equity
1,984
1,469
1,331
+35.0%
Fixed assets
1,057
957
912
+10.4%
Goodwill
125
123
121
+1.2%
Intangible assets
1.2
2.0
2.7
-37.0%
Cash and equivalents
108
210
151
-48.7%
Receivables
99.3
92.1
76.5
+7.8%
Inventory
20.3
18.8
16.3
+7.6%
Other assets
574
66.4
51.0
+764.4%
Total assets
1,984
1,469
1,331
+35.0%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.