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Data as of Q3 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2024, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $35.51 today, the market must believe free cash flow compounds 6.8%/yr for a decade (off $80.5M on the 3-yr avg basis).
On the basis ($65.5M) the requirement is 9.6%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 6.8% is more optimistic than its 9-yr track record.
Default is 10.0% — this company's computed cost of capital (published default — this company's cost of capital could not be computed), the same rate the Analysis tab discounts at.
2-stage DCF · 0.01B shares (market data) · net debt $1.06B
mean 20.2% · volatility σ 72% · implied rate exceeded in 4/9 yrs
Central path = implied 6.8%/yr growth; shaded band = ±1σ (72%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Ranked against 27 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCD | $182.7B | 21.6× | 17.3× | 6.8× | 3.7% | — | 31.9% | -478% | 22.0% | 3.1× | 1,221 |
| YUM | $42.4B | 28.0× | 15.0× | 5.2× | 8.8% | 69.8% | 19.0% | -21.3% | -21.4% | -0.2× | 409 |
| CMG | $40.3B | 28.0× | 17.4× | 3.4× | 5.4% | — | 12.9% | 54.3% | 54.3% | -0.1× | 337 |
| QSR | $25.3B | 30.8× | 16.0× | 2.7× | 12.2% | — | 11.4% | 29.6% | 6.4% | 5.5× | 136 |
| DRI | $24.9B | 21.2× | 12.6× | 1.9× | 9.4% | 20.3% | 9.1% | 54.7% | 26.6% | 1.0× | 315 |
| YUMC | $15.4B | 18.2× | 8.6× | 1.3× | 4.4% | — | 7.9% | 17.3% | 17.2% | -0.3× | 149 |
| ARMK | $14.2B | 44.2× | 14.9× | 0.8× | 6.4% | — | 1.8% | 10.4% | 3.8% | 3.8× | 120 |
| TXRH | $12.0B | 29.9× | 17.4× | 2.0× | 9.4% | — | 7.0% | 28.4% | 28.4% | -0.2× | 132 |
| EAT | $8.8B | 19.5× | 10.9× | 1.5× | 7.9% | — | 8.4% | 110% | 54.8% | 0.4× | 110 |
| CAVA | $6.9B | 108.8× | 51.0× | 5.8× | 22.4% | — | 5.4% | 8.2% | 8.2% | -2.2× | 98 |
| CAKE | $5.6B | 36.8× | 20.3× | 1.5× | 4.7% | — | 4.0% | 34.0% | 13.9% | 1.4× | 76 |
| WING | $4.1B | 24.1× | 24.8× | 5.8× | 11.4% | — | 25.0% | -23.7% | 36.9% | 5.0× | 73 |
| CBRL | $1.6B | 50.0× | 16.9× | 0.5× | -4.7% | 69.1% | 1.0% | 6.6% | 3.9% | 2.7× | 48 |
| ARCO | $1.4B | 6.7× | 4.1× | 0.3× | 4.7% | 98.1% | 4.5% | 27.5% | 11.1% | 1.4× | 25 |
| BJRI | $1.3B | 28.9× | 11.3× | 0.9× | 3.1% | 74.7% | 3.5% | 13.3% | 10.8% | 0.5× | 31 |
| BH | $1.3B | — | 20.7× | 3.2× | 9.2% | 59.2% | -9.5% | -7.2% | -4.9% | -0.4× | 13 |
| BLMN | $905M | 105.7× | 7.6× | 0.2× | 0.1% | 70.2% | 0.2% | 2.5% | 0.7% | 3.4× | 35 |
| FWRG | $786M | 41.1× | 11.1× | 0.6× | 20.3% | — | 1.6% | 3.1% | 2.1% | 2.8× | 32 |
| PZZA | $607M | 20.5× | 7.1× | 0.3× | -0.3% | — | 1.5% | -6.9% | 11.3% | 3.8× | 47 |
| LOCO | $466M | 17.0× | 8.8× | 0.9× | 3.6% | — | 5.4% | 9.1% | 7.7% | 0.8× | 23 |
| DIN | $450M | 32.0× | — | 0.5× | 8.2% | 40.9% | 1.9% | -6.2% | 1.9% | — | 26 |
| KRUS | $425M | — | 40.6× | 1.5× | 18.9% | — | -0.7% | -0.8% | -0.8% | -5.1× | 16 |
| NATH | $418M | 21.0× | 14.2× | 2.6× | 9.4% | 34.3% | 12.4% | -141% | 59.0% | 0.8× | 22 |
| PTLO | $353M | 18.0× | 9.4× | 0.5× | 3.0% | — | 2.6% | 4.1% | 2.4% | 4.5× | 33 |
| PC | $274M | — | — | 82.0× | -12.2% | 24.8% | -127% | -52.1% | -50.5% | — | — |
Peers = companies sharing DIN's sector (Retail-Eating Places) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 58% of free cash flow, leaving room to grow it and fund buybacks. Last year: $31.0M dividends + $60.7M buybacks = $91.7M returned on $53.4M FCF.
1 consecutive years of dividend increases · -5%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 2%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $383.4M covers the $13.0M due within a year 29.5× over. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~6.2% on $1.18B of debt. Interest last disclosed in FY2023 (no longer broken out).
Cash of $128.2M fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $879.3M 100.0% | $812.3M 100.0% | $812.3M 100.0% | $831.1M 100.0% | $909.4M 100.0% | $896.2M 100.0% | $689.3M 100.0% | $910.2M 100.0% | $780.9M 100.0% | $731.7M 100.0% |
| Cost of Revenue | $520.0M 59.1% | $437.0M 53.8% | $437.0M 53.8% | $434.4M 52.3% | $532.0M 58.5% | $520.9M 58.1% | $440.6M 63.9% | $527.4M 57.9% | $427.8M 54.8% | $393.0M 53.7% |
| Gross Profit | $359.3M 40.9% | $375.3M 46.2% | $375.3M 46.2% | $396.7M 47.7% | $377.4M 41.5% | $375.2M 41.9% | $248.7M 36.1% | $382.8M 42.1% | $353.1M 45.2% | $338.7M 46.3% |
| Selling, General & Admin | $203.8M 23.2% | $196.7M 24.2% | $196.7M 24.2% | $198.1M 23.8% | $190.7M 21.0% | $171.8M 19.2% | $144.8M 21.0% | $162.8M 17.9% | $166.7M 21.3% | $165.7M 22.6% |
| Interest Expense | — | — | — | $74.0M 8.9% | $67.6M 7.4% | $71.5M 8.0% | $75.9M 11.0% | $70.2M 7.7% | $61.7M 7.9% | $62.0M 8.5% |
| Interest & Investment Income | — | — | — | — | — | — | $1.1M 0.2% | — | — | — |
| Pretax Income | $25.2M 2.9% | $89.5M 11.0% | $89.5M 11.0% | $111.7M 13.4% | $114.8M 12.6% | $121.9M 13.6% | -$108.6M -15.8% | $138.5M 15.2% | $110.6M 14.2% | -$428.3M -58.5% |
| Income Tax Expense | $8.1M 0.9% | $24.7M 3.0% | $24.7M 3.0% | $14.5M 1.7% | $33.7M 3.7% | $24.1M 2.7% | -$4.6M -0.7% | $34.1M 3.7% | $30.3M 3.9% | -$85.6M -11.7% |
| Net Income | $17.1M 1.9% | $64.9M 8.0% | $64.9M 8.0% | $97.2M 11.7% | $81.1M 8.9% | $97.9M 10.9% | -$104.0M -15.1% | $104.3M 11.5% | $80.4M 10.3% | -$342.8M -46.8% |
| Per Share | ||||||||||
| EPS (Basic) | $1.11 | $4.22 | $4.22 | $6.23 | $4.97 | $5.69 | -$6.43 | $5.95 | $4.43 | -$18.96 |
| EPS (Diluted) | $1.11 | $4.22 | $4.22 | $6.22 | $4.96 | $5.66 | -$6.43 | $5.85 | $4.37 | -$18.96 |
| Weighted Avg Shares (Basic) | 14.3M | 14.9M | 14.9M | 15.2M | 15.9M | 16.8M | 16.2M | 16.9M | 17.5M | 17.7M |
| Weighted Avg Shares (Diluted) | 14.3M | 14.9M | 14.9M | 15.2M | 15.9M | 16.9M | 16.2M | 17.2M | 17.8M | 17.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-30
Where each multiple sits in its own 15-yr range · 50th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 15-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -6% against ROIC 2% — -8% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 57.9 | 63.9 | 58.1 | 58.5 | 52.3 | 53.8 | 53.8 | 59.1 |
| Gross Profit | 42.1 | 36.1 | 41.9 | 41.5 | 47.7 | 46.2 | 46.2 | 40.9 |
| SG&A | 17.9 | 21.0 | 19.2 | 21.0 | 23.8 | 24.2 | 24.2 | 23.2 |
| Income Tax | 3.7 | -0.7 | 2.7 | 3.7 | 1.7 | 3.0 | 3.0 | 0.9 |
| Net Income | 11.5 | -15.1 | 10.9 | 8.9 | 11.7 | 8.0 | 8.0 | 1.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DIN: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 46.3% | not reported | -46.8% |
| FY2018 | 45.2% | not reported | 10.3% |
| FY2019 | 42.1% | not reported | 11.5% |
| FY2020 | 36.1% | not reported | -15.1% |
| FY2021 | 41.9% | not reported | 10.9% |
| FY2022 | 41.5% | not reported | 8.9% |
| FY2023 | 47.7% | not reported | 11.7% |
| FY2024 | 46.2% | not reported | 8.0% |
| FY2024 | 46.2% | not reported | 8.0% |
| FY2025 | 40.9% | not reported | 1.9% |
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Converts 1.53x of reported profit into free cash flow over 5 years, with accruals negative.
Reported free cash flow is $53M; after share-based compensation it is $40M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2020-12-31, 2130 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2020-12-31 (10-K); cash from the 2020-12-31 balance sheet; FCF from FY2020.
Balance sheet at 2020-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda, interest_expense.
At $35.51, free cash flow must compound 10.1%/yr for 10 years. It has done -7.56%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 109.2% | 10.1% |
| FY2022 | −69.8% | 10.1% |
| FY2023 | 74.0% | 10.1% |
| FY2024 | 0.1% | 10.1% |
| FY2024 | −0.0% | 10.1% |
| FY2025 | −43.2% | 10.1% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. No TTM point: the four most recent quarters do not form a usable window.
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $17M | $17M |
| Share-based comp | $13M | $30M |
| Other non-cash & working capital | $59M | $89M |
| Operating cash flow | $89M | $89M |
| Capex | −$36M | $53M |
| Free cash flow | $53M | $53M |
| FCF after SBC | $40M | $40M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 30.0% | not reported | not reported |
| FY2022 | 1.5% | not reported | not reported |
| FY2023 | -8.6% | not reported | not reported |
| FY2024 | -2.3% | not reported | not reported |
| FY2024 | 0.0% | not reported | not reported |
| FY2025 | 8.3% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | -9.7 percent |
| FY2021 | -4.9 percent |
| FY2022 | -0.4 percent |
| FY2023 | -1.9 percent |
| FY2024 | -2.4 percent |
| FY2024 | -2.4 percent |
| FY2025 | -4.1 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 3 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-15 | Camperlingo Joseph F. SVP, Chief Accounting Officer | Tax withholding | 2,085 | $33.00 | $69k |
| 2026-10-09 | Poulter Martha Director | Grant | 24 | $0.00 | — |
| 2026-10-09 | Ryan Matthew T. Director | Grant | 24 | $0.00 | — |
| 2026-10-09 | Hyter Michael Director | Grant |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
| 24 |
| $0.00 |
| — |
| 2026-10-09 | Silva Enrique Director | Grant | 21 | $0.00 | — |
| 2026-10-09 | Starrs Artie Director | Grant | 24 | $0.00 | — |
| 2026-10-09 | Tomovich Lilian Director | Grant | 24 | $0.00 | — |
| 2026-10-09 | Clark Amanda Director | Grant | 21 | $0.00 | — |
| 2026-10-09 | Pasquale Douglas M Director | Grant | 24 | $0.00 | — |
| 2026-07-10 | Tomovich Lilian Director | Grant | 19 | $0.00 | — |
| 2026-07-10 | Silva Enrique Director | Grant | 17 | $0.00 | — |
| 2026-07-10 | Starrs Artie Director | Grant | 19 | $0.00 | — |
| 2026-07-10 | Ryan Matthew T. Director | Grant | 19 | $0.00 | — |
| 2026-07-10 | Poulter Martha Director | Grant | 19 | $0.00 | — |
| 2026-07-10 | Clark Amanda Director | Grant | 17 | $0.00 | — |
| 2026-07-10 | Pasquale Douglas M Director | Grant | 19 | $0.00 | — |
| 2026-07-10 | Hyter Michael Director | Grant | 19 | $0.00 | — |
| 2026-07-10 | Berk Howard M Director | Grant | 19 | $0.00 | — |
| 2026-05-27 | 2 co-filers Group filing | Option exercise | 3,616 | $31.02 | $112k |
| 2026-05-27 | 2 co-filers Group filing | Option exercise | 3,616 | $0.00 | — |
| 2026-05-08 | Hyter Michael Director | Open-market sale | 1,800 | $28.88 | $52k |
| 2026-04-10 | Berk Howard M Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Tomovich Lilian Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Starrs Artie Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Silva Enrique Director | Grant | 24 | $0.00 | — |
| 2026-04-10 | Ryan Matthew T. Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Poulter Martha Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Pasquale Douglas M Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Hyter Michael Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Dahl Richard J Director | Grant | 26 | $0.00 | — |
| 2026-04-10 | Clark Amanda Director | Grant | 24 | $0.00 | — |
| 2026-03-13 | Pasquale Douglas M Director | Open-market buyindirect | 1,000 | $27.75 | $28k |
| 2026-03-12 | 3 co-filers Group filing | Plan purchaseindirect | 1,000 | $28.00 | $28k |
| 2026-03-12 | 3 co-filers Group filing | Plan purchaseindirect | 1,000 | $28.50 | $29k |
| 2026-03-10 | 3 co-filers Group filing | Plan purchaseindirect | 1,000 | $29.00 | $29k |
| 2026-03-09 | 3 co-filers Group filing | Plan purchaseindirect | 500 | $30.00 | $15k |
| 2026-03-06 | 2 co-filers Chief Financial Officer | Tax withholding | 1,382 | $31.58 | $44k |
| 2026-03-06 | 2 co-filers Group filing | Option exercise | 4,947 | $31.58 | $156k |
| 2026-03-06 | Kim Lawrence Y. President, IHOP Business Unit | Tax withholding | 2,303 | $31.58 | $73k |
| 2026-03-06 | 2 co-filers Chief Executive Officer | Tax withholding | 11,103 | $31.58 | $351k |