Brinker International, Inc. (EAT) 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

-41.7%

$124.97

vs $214.26 price

Levered DCF

$114.90

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.36

Safe zone

Rating

B+

Overall 3 / 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	15.22×	20.57×	20.82×	15.54×	8.52×	21.4×	36.77×	9.65×
P/B	16.69×	21.24×	82.12×	-11.06×	-3.74×	-9.28×	-1.88×	-1.92×
P/S	1.28×	1.46×	0.73×	0.39×	0.26×	0.84×	0.29×	0.46×
EV / EBITDA	10.78×	13.28×	12.9×	11.91×	10.02×	13.75×	14.35×	7.08×
Gross margin	18.6%	18.2%	14.2%	12.1%	13.1%	15.1%	13.3%	16.2%
Operating margin	10.7%	9.5%	5.2%	3.5%	4.2%	6.0%	2.0%	7.2%
Net margin	8.4%	7.1%	3.5%	2.5%	3.1%	3.9%	0.8%	4.8%
Current ratio	0.45×	0.31×	0.38×	0.34×	0.36×	0.36×	0.45×	0.42×
Debt / equity	3.96×	4.57×	50.74×	-14.97×	-8.48×	-6.74×	-5.01×	-1.57×
Interest coverage	15.31×	9.64×	3.53×	2.63×	3.46×	3.55×	1.05×	3.75×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	6.4%	4.0%
Payout ratio	0.0%	0.0%	0.1%	0.6%	0.9%	1.1%	235.2%	38.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	109.8%	103.3%	394.2%	-71.1%	-43.9%	-43.4%	-5.1%	-19.9%
Return on invested capital	22.8%	20.0%	10.3%	7.0%	7.7%	9.9%	3.1%	24.6%
Return on assets	17.3%	14.3%	6.0%	4.1%	4.7%	5.8%	1.0%	12.3%
Free cash flow yield	7.5%	5.3%	6.9%	4.5%	10.1%	9.8%	15.6%	3.0%
Earnings yield	6.6%	4.9%	4.8%	6.4%	11.7%	4.7%	2.7%	10.4%
Enterprise value	$9.1B	$9.6B	$5.2B	$3.7B	$3.3B	$4.8B	$3.3B	$2.7B
Net debt / EBITDA	1.96×	2.33×	4.83×	6.83×	6.94×	5.74×	10.39×	3.16×
Cash conversion cycle (days)	-1	-2	-2	2	2	4	7	4