Texas Roadhouse (TXRH) Q4 FY2021 earnings: revenue $896 million, up 40.4% on the year

Texas Roadhouse, Inc. (TXRH) reported revenue of $896 million for Q4 FY2021, the quarter ended 28 December 2021, up 40.4% on the same quarter a year earlier. Net income was $53 million, up 171.4% on the year, and diluted earnings per share $0.76. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.

Revenue

$896 million

+40.4% on the year · +3.1% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

7.2%

3.2% a year earlier

Q1 FY2020Q4 FY2021

Net income

$53 million

+171.4% on the year · +0.9% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.76

+171.4% on the year · +1.3% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	896	869	638	+3.1%	+40.4%
Cost of revenue	748	n/a	n/a
Gross profit	147	n/a	n/a
Gross margin	16.4%	n/a	n/a
Operating income	64.8	61.7	20.4	+5.1%	+217.9%
Operating margin	7.2%	7.1%	3.2%
Interest expense	0.6	n/a	n/a
Pre-tax income	63.3	n/a	n/a
Income tax	8.5	n/a	n/a
Effective tax rate	13.5%	n/a	n/a
Net income	53.1	52.6	19.5	+0.9%	+171.4%
Net margin	5.9%	n/a	n/a
Diluted EPS	$0.76	$0.75	$0.28	+1.3%	+171.4%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	120	n/a	n/a
Capital expenditure	61.7	n/a	n/a
Free cash flow	58.4	n/a	n/a
Free cash flow margin	6.5%	n/a	n/a
Cash from investing	-61.7	n/a	n/a
Cash from financing	-159	n/a	n/a
Depreciation and amortisation	32.6	31.6	30.4	+3.1%	+7.1%
Share-based compensation	7.3	n/a	n/a
Diluted shares, weighted	70m	70m	n/a	-0.1%
Shares outstanding at period end	69m	70m	70m	-0.5%	-0.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	1,058	1,065	928	-0.7%	+14.1%
Non-controlling interest	15.4	n/a	n/a
Debt	100	190	240	-47.4%	-58.3%
Operating lease liabilities	623	n/a	n/a
Other liabilities	716	n/a	n/a
Total liabilities and equity	2,512	n/a	n/a
Fixed assets	1,162	n/a	n/a
Goodwill	127	n/a	n/a
Intangible assets	1.5	n/a	n/a
Cash and equivalents	336	437	363	-23.1%	-7.6%
Receivables	161	n/a	n/a
Inventory	31.6	n/a	n/a
Other assets	692	n/a	n/a
Total assets	2,512	n/a	n/a

Questions

What was Texas Roadhouse's revenue in Q4 FY2021?

Texas Roadhouse (TXRH) reported revenue of $896 million for Q4 FY2021, the quarter ended 28 December 2021, up 40.4% on the same quarter a year earlier.

How much did Texas Roadhouse earn in Q4 FY2021?

Net income for Q4 FY2021 was $53 million, up 171.4% on the year, and diluted earnings per share $0.76.

When did Texas Roadhouse report Q4 FY2021 results?

Texas Roadhouse filed its 10-K for the year that ended with the quarter on 25 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	896	987	1,025	993	1,010	1,174	1,171	1,122	1,164	1,321	1,341	1,273	1,438	1,448	1,512	1,436	1,482	1,633	1,680	1,573
Cost of revenue	748	820	849	835	857	982	982	952	981	1,086	1,091	1,063	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Gross profit	147	168	175	158	152	192	190	169	184	236	250	210	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Gross margin	16%	17%	17%	16%	15%	16%	16%	15%	16%	18%	19%	16%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	64.8	90.1	85.9	75.3	68.9	101	95.4	73.9	83.8	133	143	102	139	135	146	96.9	96.7	146	143	103
Operating margin	7%	9%	8%	8%	7%	9%	8%	7%	7%	10%	11%	8%	10%	9%	10%	7%	7%	9%	8%	7%
Interest expense	0.6	0.4	0.4	0.1	-0.8	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	63.3	90.1	86.1	75.4	69.8	103	96.7	74.5	84.2	135	145	104	141	136	149	97.7	98.0	147	144	104
Tax rate	14%	14%	13%	15%	11%	14%	13%	12%	11%	14%	15%	17%	16%	15%	15%	13%	12%	14%	14%	12%
Net income	53.1	75.2	72.4	62.3	59.9	86.4	82.3	63.8	72.4	113	120	84.4	116	114	124	83.2	84.6	123	122	89.4
Net margin	6%	8%	7%	6%	6%	7%	7%	6%	6%	9%	9%	7%	8%	8%	8%	6%	6%	8%	7%	6%
Diluted EPS	$0.76	$1.08	$1.07	$0.93	$0.89	$1.28	$1.22	$0.95	$1.08	$1.69	$1.79	$1.26	$1.73	$1.70	$1.86	$1.25	$1.28	$1.87	$1.85	$1.36
Operating cash flow	120	188	111	96.4	117	189	99.3	103	174	243	134	139	238	238	128	144	220	259	180	147
Capital expenditure	61.7	49.0	59.5	65.6	71.9	66.7	87.8	89.3	103	77.7	77.8	91.1	108	77.4	92.5	129	89.2	80.2	98.7	136
Free cash flow	58.4	139	51.4	30.7	44.7	122	11.4	13.2	71.1	166	56.1	47.7	130	160	35.7	14.7	131	179	81.5	11.1
Buybacks	n/a	84.7	128	0.0	0.1	9.6	23.4	12.1	4.9	8.9	26.2	9.6	35.3	50.2	10.3	40.0	50.0	28.2	43.6	12.4
Dividends paid	n/a	31.8	30.8	30.8	30.8	36.9	36.8	36.7	36.8	40.8	40.7	40.7	40.7	45.2	45.1	45.1	44.9	49.4	49.3	49.2
Shares outstanding	69m	68m	67m	67m	67m	67m	67m	67m	67m	67m	67m	67m	67m	66m	66m	66m	66m	66m	66m	66m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 28 December 2021, filed 25 February 2022: the filing.