EAT
Brinker International, Inc.
EAT's fundamentals are mixed: free cash flow grew 28%, while its operating margin held steady at 11%. At 17x earnings, it's trading in line with its usual 18x. Analysts expect strong earnings growth.
EAT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Stable |
EAT's profitability and cash flow are currently healthy, and its revenue and balance sheet are stable.
EAT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $127 | -35% |
| Forward | 14x | $198 | — |
| Current | 17x | $198 | — |
| Fair | 18x | $203 | +2.7% |
| Expensive | 31x | $356 | +80% |
Historical ranges are pointers, not guarantees.
EAT's PE is in its fair range at 17x. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
EAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for EAT, with profitability improving.
EAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.08 | +24% |
| Q3 2026 | $11.34 | +18% |
| Q2 2026 | $10.87 | +31% |
| Q1 2026 | $10.21 | +41% |
| Q4 2025 | $9.90 | +72% |
| Q3 2025 | $9.65 | +137% |
| Q2 2025 | $8.32 | +145% |
| Q1 2025 | $7.23 | +112% |
| Q4 2024 | $5.75 | +67% |
EAT's earnings per share have climbed steadily: $11.34 over the past year, up 18% from the year before, and higher year over year for 13 quarters in a row.
EAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +9.4% |
| Q2 2026 | $1.5B | +5.1% |
| Q1 2026 | $1.5B | +3.2% |
| Q4 2025 | $1.5B | +6.9% |
| Q3 2025 | $1.3B | +18% |
| Q2 2025 | $1.5B | +21% |
| Q1 2025 | $1.4B | +27% |
| Q4 2024 | $1.4B | +26% |
EAT's revenue has grown year over year for 22 quarters in a row: $1.5B last quarter, up 9.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 10% | +1.5 points |
| Q2 2026 | 11% | +1.1 points |
| Q1 2026 | 11% | +0.3 points |
| Q4 2025 | 12% | +0.1 points |
| Q3 2025 | 8.7% | +3.8 points |
| Q2 2025 | 9.8% | +3.7 points |
| Q1 2025 | 11% | +4.8 points |
| Q4 2024 | 11% | +5.7 points |
EAT's operating margin was 10% last quarter, up 1.5 points from the same quarter a year ago.
EAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $105.7M | +70% |
| Q2 2026 | $159.2M | +50% |
| Q1 2026 | $180.9M | +37% |
| Q4 2025 | $155.2M | -8.1% |
| Q3 2025 | $62.2M | +887% |
| Q2 2025 | $106.1M | +27% |
| Q1 2025 | $132.4M | +68% |
| Q4 2024 | $168.9M | +248% |
EAT generated $601M in free cash flow over the past year, up 28% from the year before.
EAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -4% | -1.8M shares |
| 1 year | -6.1% | -2.8M shares |
| 3 years | -5.3% | -2.4M shares |
| 5 years | -8.5% | -4M shares |
| Available history | +13% | +4.9M shares |
EAT has 43M diluted shares, down 6.1% from a year ago, with $475M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $165.2M |
| Q2 2026 | $100.5M |
| Q1 2026 | $108.4M |
| Q4 2025 | $100.5M |
| Q3 2025 | $134.5M |
| Q2 2025 | $3.9M |
| Q1 2025 | $1.1M |
| Q4 2024 | $10.4M |
EAT spent $475M buying back its own shares over the past year, about three times what it spent the year before.
EAT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2022 | 2.6x | Moderate |
| Q4 2021 | 2.8x | Moderate |
| Q3 2021 | 2.8x | Moderate |
| Q2 2021 | 2.6x | Moderate |
| Q1 2021 | 4.9x | High |
| Q4 2020 | 5.6x | High |
| Q3 2020 | 5.1x | High |
| Q2 2020 | 5.2x | High |
EAT's net debt is about 2.6 years of its operating earnings (EBITDA), down from 4.9 years a year ago.
EAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.5 | Neutral |
| Stochastic | 31.9 | Neutral |
EAT's weekly RSI is 52 (neutral) and its Stochastic is 32 (neutral).
EAT PE vs Consumer Cyclical Sector
| Metric | EAT | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 18x | 3.3% below |
| PE % | 49 | 47 | 2 pts above |
EAT is trading at 17x earnings, in line with the Consumer Cyclical sector's median of 18x.
EAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $200.8 | 1.6% below |
| 20 week MA | $206.9 | 4.5% below |
| 50 week MA | $172.6 | 15% above |
| 100 week MA | $160.5 | 23% above |
| 200 week MA | $106.7 | 85% above |
EAT has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 85% above its 200-week average.
EAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.2 | $57.7 | +40% |
| 2021 | $57.7 | $37.3 | -35% |
| 2022 | $37.3 | $32.9 | -12% |
| 2023 | $32.9 | $43.2 | +31% |
| 2024 | $43.2 | $132.5 | +207% |
| 2025 | $132.5 | $149.6 | +13% |
| 2026 YTD | $149.6 | $197.6 | +32% |
EAT has finished higher in four of the last six years. It's up 32% so far in 2026.