TXRHMEDIUM SIGNALFINANCIAL10-K

TXRH significantly expanded operations while strengthening its balance sheet through debt reduction and increased share buybacks, though cash reserves declined substantially.

The company demonstrated strong operational growth with 48 net new company-owned restaurants and appears confident in its financial position given the 88% increase in share buybacks to $150.4M. However, the 45% decline in cash reserves to $134.7M, while offset by 49% debt reduction, suggests management is actively deploying capital rather than maintaining large cash cushions.

Comparing 2026-02-27 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

TXRH's financials reflect an expanding business with total assets growing 11.2% to $3.5B driven by restaurant expansion, while the company strengthened its balance sheet by cutting debt nearly in half to $25.7M. The 45% decline in cash to $134.7M was offset by an 88% increase in share buybacks to $150.4M, indicating aggressive capital deployment, though rising total liabilities (+13.8% to $2.1B) and accounts receivable (+11% to $214.5M) suggest growing operational scale and complexity. Overall, the picture shows a company in active expansion mode with strong cash generation but tighter liquidity management.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+88%
$80.0M→$150.4M

Share repurchases increased 88% — management returning capital, signals confidence in intrinsic value.

Total Debt
Balance Sheet
-49.4%
$50.8M→$25.7M

Debt reduced 49.4% — deleveraging strengthens balance sheet and reduces financial risk.

Cash & Equivalents
Balance Sheet
-45.1%
$245.2M→$134.7M

Cash declined 45.1% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Interest Expense
P&L
+25.7%
$1.3M→$1.6M

Interest costs rose 25.7% — monitor debt levels and coverage ratio in rising rate environment.

Total Liabilities
Balance Sheet
+13.8%
$1.8B→$2.1B

Liabilities increased 13.8% — monitor debt-to-equity ratio and interest coverage.

Current Assets
Balance Sheet
-12.6%
$516.6M→$451.5M

Current assets declined 12.6% — monitor working capital adequacy and short-term liquidity.

Inventory
Balance Sheet
+11.8%
$40.8M→$45.6M

Inventory built 11.8% — monitor whether demand supports this build or if write-downs may follow.

Total Assets
Balance Sheet
+11.2%
$3.2B→$3.5B

Asset base grew 11.2% — expansion through organic growth, acquisitions, or capital deployment.

Accounts Receivable
Balance Sheet
+11%
$193.2M→$214.5M

Receivables grew 11% — monitor days sales outstanding for collection efficiency.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-28
ADDED
The aggregate market value of the voting stock held by non-affiliates of the registrant as of the last business day of the second fiscal quarter ended July 1, 2025 was approximately $ 12.5 billion based on the closing stock price of $189.22 on the Nasdaq Global Select Market.
(the "Company," "we," "our," and/or "us") was incorporated under the laws of the state of Delaware in 2004.
This strategy guides our purpose statement of "Serving Communities Across America and the World." Restaurant Concepts As of December 30, 2025, we owned and operated 714 restaurants and franchised an additional 102 restaurants.
Of the 714 restaurants we owned and operated, we operated 648 as Texas Roadhouse restaurants, 56 as Bubba s 33 restaurants, and ten as Jaggers restaurants.
Of the 102 franchise restaurants, 36 were domestic Texas Roadhouse restaurants, five were domestic Jaggers restaurants, 60 were international Texas Roadhouse restaurants, including two restaurants in a U.S.
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REMOVED
The aggregate market value of the voting stock held by non-affiliates of the registrant as of the last business day of the second fiscal quarter ended June 25, 2024 was approximately $ 11.4 billion based on the closing stock price of $171.66 on the Nasdaq Global Select Market.
(the "Company," "we," "our" and/or "us" ) was incorporated under the laws of the state of Delaware in 2004.
This strategy guides our purpose statement of "Serving Communities Across America and the World." Restaurant Concepts As of December 31, 2024, we owned and operated 666 restaurants and franchised an additional 118 restaurants.
Of the 666 restaurants we owned and operated, we operated 608 as Texas Roadhouse restaurants, 49 as Bubba s 33 restaurants, and nine as Jaggers restaurants.
Of the 118 franchise restaurants, 56 were domestic Texas Roadhouse restaurants, four were domestic Jaggers restaurants, 57 were international Texas Roadhouse restaurants, including one restaurant in a U.S.
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