Cracker Barrel Old Country Store (CBRL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-94.3%

$4.01

vs $69.75 price

Levered DCF

$4.25

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.51

Grey zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	39.71×	28.66×	24.91×	20.85×	16.91×	12.68×	-81.23×	18.7×
P/B	2.63×	2.87×	2.31×	4.27×	4.36×	4.86×	6.3×	6.9×
P/S	0.38×	0.38×	0.29×	0.6×	0.68×	1.14×	1.05×	1.36×
EV / EBITDA	18.59×	12.76×	13.02×	13.47×	12.57×	8.62×	17.33×	11.63×
Gross margin	6.3%	33.0%	32.0%	32.1%	32.7%	34.5%	32.4%	34.6%
Operating margin	-0.0%	1.6%	1.3%	3.5%	4.7%	13.0%	2.2%	9.2%
Net margin	1.0%	1.3%	1.2%	2.9%	4.0%	9.0%	-1.3%	7.3%
Current ratio	0.58×	0.5×	0.61×	0.58×	0.63×	0.76×	1.43×	0.62×
Debt / equity	2.17×	2.55×	2.73×	2.41×	2.35×	1.7×	3.88×	0.66×
Interest coverage	-0.11×	2.69×	2.16×	7.09×	15.9×	6.53×	2.52×	17.15×
Dividend yield	1.8%	1.7%	11.4%	5.6%	5.2%	1.0%	3.6%	4.6%
Payout ratio	73.1%	49.8%	283.6%	117.2%	87.1%	12.4%	-291.1%	86.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.6%	10.0%	9.3%	20.5%	25.8%	38.4%	-7.8%	36.9%
Return on invested capital	-0.1%	3.2%	2.6%	6.5%	7.6%	15.2%	2.6%	20.0%
Return on assets	1.6%	2.1%	1.9%	4.5%	5.7%	10.6%	-1.3%	14.1%
Free cash flow yield	7.2%	4.5%	4.0%	6.1%	4.9%	7.2%	-5.1%	5.4%
Earnings yield	2.5%	3.5%	4.0%	4.8%	5.9%	7.9%	-1.2%	5.4%
Enterprise value	$2.3B	$2.5B	$2.2B	$3.2B	$3.4B	$4.2B	$3.8B	$4.5B
Net debt / EBITDA	8.23×	5.9×	7.02×	4.79×	4.29×	2.01×	5.38×	0.93×
Cash conversion cycle (days)	5	7	8	7	11	4	15	7