Dine Brands Global, Inc. (DIN) 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

+352.5%

$163.40

vs $36.11 price

Levered DCF

$104.20

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.84

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	29×	7.13×	7.97×	13×	13.32×	-9.05×	14.04×	14.7×
P/B	-1.7×	-2.08×	-3.01×	-3.41×	-5.25×	-2.65×	-5.85×	-5.84×
P/S	0.53×	0.55×	0.91×	1.13×	1.42×	1.37×	1.55×	1.51×
EV / EBITDA	26.49×	9.29×	10.1×	11.69×	11.94×	2,229.69×	13.04×	12.14×
Gross margin	39.9%	46.2%	47.7%	41.5%	41.9%	36.1%	42.1%	45.2%
Operating margin	16.3%	20.7%	22.6%	19.4%	21.5%	13.5%	22.9%	22.6%
Net margin	1.9%	8.0%	11.7%	8.9%	10.9%	-15.1%	11.5%	10.3%
Current ratio	0.96×	0.87×	0.78×	1.02×	1.4×	1.68×	0.97×	1.21×
Debt / equity	-5.84×	-7.42×	-6.32×	-5.79×	-7.31×	-5.73×	-7.65×	-7.12×
Interest coverage	28.72×	2.33×	2.68×	2.89×	3.04×	1.39×	3.45×	2.86×
Dividend yield	6.7%	7.0%	4.2%	3.0%	0.5%	2.5%	3.3%	4.3%
Payout ratio	181.3%	48.2%	32.6%	37.9%	6.9%	-23.0%	44.9%	63.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-6.2%	-30.0%	-38.7%	-26.9%	-40.3%	29.3%	-43.2%	-39.7%
Return on invested capital	6.7%	8.0%	11.3%	7.9%	9.3%	4.9%	8.8%	8.6%
Return on assets	1.0%	3.6%	5.6%	4.3%	4.9%	-5.0%	5.1%	4.5%
Free cash flow yield	11.5%	20.9%	12.4%	5.3%	14.1%	9.1%	9.6%	10.7%
Earnings yield	3.7%	14.4%	12.8%	7.9%	7.7%	-11.0%	7.4%	6.8%
Enterprise value	$1.9B	$1.9B	$2.2B	$2.5B	$2.7B	$2.6B	$3.1B	$2.5B
Net debt / EBITDA	20.13×	7.05×	6.62×	6.89×	6.28×	1,419.59×	7.18×	6.37×
Cash conversion cycle (days)	-15	-12	26	12	10	34	27	27