Tearsheet

Cracker Barrel Old Country Store (CBRL)


Market Price (12/25/2025): $26.33 | Market Cap: $586.9 Mil
Sector: Consumer Discretionary | Industry: Restaurants

Cracker Barrel Old Country Store (CBRL)


Market Price (12/25/2025): $26.33
Market Cap: $586.9 Mil
Sector: Consumer Discretionary
Industry: Restaurants

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, Dividend Yield is 4.0%
Weak multi-year price returns
2Y Excs Rtn is -111%, 3Y Excs Rtn is -150%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 199%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -56%
  Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 32x
2 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%, Rev Chg QQuarterly Revenue Change % is -5.7%
3   Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 23%
4   Key risks
CBRL key risks include [1] a significant decline in customer traffic as its traditional brand misaligns with evolving consumer preferences and [2] a substantial debt load that limits financial flexibility and poses refinancing risks.
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, Dividend Yield is 4.0%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -56%
2 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
3 Weak multi-year price returns
2Y Excs Rtn is -111%, 3Y Excs Rtn is -150%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 199%
5 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 32x
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%, Rev Chg QQuarterly Revenue Change % is -5.7%
7 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 23%
8 Key risks
CBRL key risks include [1] a significant decline in customer traffic as its traditional brand misaligns with evolving consumer preferences and [2] a substantial debt load that limits financial flexibility and poses refinancing risks.

Valuation, Metrics & Events

CBRL Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Here are the key points for why Cracker Barrel Old Country Store (CBRL) stock moved by -55.6% for the approximate time period from August 31, 2025, to December 25, 2025: 1. Disappointing Fiscal 2026 Outlook and Traffic Decline. Cracker Barrel released a disappointing full-year outlook for fiscal 2026 (starting August 2, 2025), forecasting a 4% to 7% decrease in traffic, which fell short of Wall Street's revenue expectations. This negative forecast was a major contributor to the stock decline, with traffic reportedly dropping by approximately 8% after a new logo launch in August 2025.

2. Backlash and Reversal of Brand Refresh Initiatives. The company faced significant public backlash over its logo update and store renovation plans, which were eventually shelved following widespread criticism. This controversy contributed to negative market sentiment and led to a stock drop of as much as 15% in August 2025.

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Stock Movement Drivers

Fundamental Drivers

The -39.3% change in CBRL stock from 9/24/2025 to 12/24/2025 was primarily driven by a -70.1% change in the company's Net Income Margin (%).
924202512242025Change
Stock Price ($)43.5426.41-39.34%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3510.063435.78-2.12%
Net Income Margin (%)1.65%0.49%-70.09%
P/E Multiple16.7834.80107.40%
Shares Outstanding (Mil)22.2622.29-0.11%
Cumulative Contribution-39.34%

LTM = Last Twelve Months as of date shown

Market Drivers

9/24/2025 to 12/24/2025
ReturnCorrelation
CBRL-39.3% 
Market (SPY)4.4%18.6%
Sector (XLY)2.3%34.0%

Fundamental Drivers

The -56.7% change in CBRL stock from 6/25/2025 to 12/24/2025 was primarily driven by a -70.1% change in the company's Net Income Margin (%).
625202512242025Change
Stock Price ($)61.0426.41-56.74%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3510.063435.78-2.12%
Net Income Margin (%)1.65%0.49%-70.09%
P/E Multiple23.5334.8047.92%
Shares Outstanding (Mil)22.2622.29-0.11%
Cumulative Contribution-56.74%

LTM = Last Twelve Months as of date shown

Market Drivers

6/25/2025 to 12/24/2025
ReturnCorrelation
CBRL-56.7% 
Market (SPY)14.0%22.6%
Sector (XLY)15.3%32.9%

Fundamental Drivers

The -50.3% change in CBRL stock from 12/24/2024 to 12/24/2025 was primarily driven by a -57.4% change in the company's Net Income Margin (%).
1224202412242025Change
Stock Price ($)53.1026.41-50.26%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3492.013435.78-1.61%
Net Income Margin (%)1.15%0.49%-57.36%
P/E Multiple29.2634.8018.94%
Shares Outstanding (Mil)22.2222.29-0.32%
Cumulative Contribution-50.26%

LTM = Last Twelve Months as of date shown

Market Drivers

12/24/2024 to 12/24/2025
ReturnCorrelation
CBRL-50.3% 
Market (SPY)15.8%32.3%
Sector (XLY)5.3%38.4%

Fundamental Drivers

The -69.2% change in CBRL stock from 12/25/2022 to 12/24/2025 was primarily driven by a -85.9% change in the company's Net Income Margin (%).
1225202212242025Change
Stock Price ($)85.6526.41-69.17%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)3322.383435.783.41%
Net Income Margin (%)3.48%0.49%-85.86%
P/E Multiple16.4434.80111.72%
Shares Outstanding (Mil)22.1922.29-0.43%
Cumulative Contribution-69.17%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2023 to 12/24/2025
ReturnCorrelation
CBRL-64.6% 
Market (SPY)48.9%29.4%
Sector (XLY)38.7%36.0%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
CBRL Return-11%-1%-23%-14%-28%-50%-79%
Peers Return��-10%32%61%1%�
S&P 500 Return16%27%-19%24%23%18%115%

Monthly Win Rates [3]
CBRL Win Rate50%42%42%50%50%42% 
Peers Win Rate�42%38%62%65%48% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
CBRL Max Drawdown-63%-8%-34%-31%-51%-50% 
Peers Max Drawdown��-29%-4%-14%-14% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: DRI, TXRH, EAT, CAKE, FWRG. See CBRL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique KeyEventCBRLS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-64.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven181.6%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-66.4%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven197.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven357 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-17.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven20.7%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-76.9%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven332.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven507 days1,480 days

Compare to TGT, DRI, BLMN, DIN, DENN

In The Past

Cracker Barrel Old Country Store's stock fell -64.5% during the 2022 Inflation Shock from a high on 4/12/2021. A -64.5% loss requires a 181.6% gain to breakeven.

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About Cracker Barrel Old Country Store (CBRL)

Cracker Barrel Old Country Store, Inc. develops and operates the Cracker Barrel Old Country Store concept in the United States. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as dine-in, pick-up, and delivery services. The company's gift shops comprise various decorative and functional items, such as rocking chairs, seasonal gifts, apparel, toys, cookware, and various other gift items, as well as various candies, preserves, and other food items. As of September 15, 2021, it operated 664 Cracker Barrel stores in 45 states. The company was founded in 1969 and is headquartered in Lebanon, Tennessee.

AI Analysis | Feedback

  • Think of it as a Denny's or IHOP (for family-style American comfort food) that has a large, attached country general store for gifts and nostalgic items.
  • It's like a Hallmark store (for unique gifts and charming decor) that also includes a full-service, homestyle restaurant serving comfort food.
  • A Bob Evans (for country-style American comfort food) with a prominent, attached country gift shop selling nostalgic items and regional treats.

AI Analysis | Feedback

  • Restaurant Dining: Provides traditional Southern comfort food and American cuisine in a family-friendly, themed restaurant setting.
  • Retail Merchandise: Offers a diverse selection of gifts, home decor, old-fashioned candy, apparel, and proprietary food items through an attached country store.

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Major Customers of Cracker Barrel Old Country Store (CBRL)

Cracker Barrel Old Country Store (CBRL) primarily sells its products and services directly to individual consumers rather than to other businesses. As a restaurant and retail chain, its core business involves serving meals and selling merchandise to the general public.

The company serves the following categories of individual customers:

  • Families and Travelers: Cracker Barrel restaurants are often strategically located near interstate highways, making them a popular stop for families on road trips, vacationers, and travelers seeking a consistent, sit-down meal with a distinct American comfort food menu and a unique retail shopping experience. The family-friendly atmosphere and diverse menu appeal to a broad range of ages.
  • Seniors and Retirees: The nostalgic "Old Country Store" theme, traditional American comfort food offerings, and generally perceived good value often resonate strongly with an older demographic, including seniors and retirees. Many appreciate the familiar menu, welcoming atmosphere, and the opportunity to browse unique gift items.
  • Local Communities and Regulars: While well-known among travelers, Cracker Barrel also serves as a regular dining destination for residents in the communities where its stores are located. These customers may frequent the restaurant for breakfast, lunch, or dinner, special occasions, or to purchase specific items from the retail store, appreciating the consistent quality and unique offerings.
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  • Sysco Corporation (SYY)
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Julie Felss Masino President and Chief Executive Officer

Julie Felss Masino was named President and Chief Executive Officer for Cracker Barrel in July 2023 and assumed the position on November 1, 2023. She has over 30 years of experience in the restaurant and retail industries. Prior to Cracker Barrel, Ms. Masino served as President, International of Taco Bell (from January 2020 to June 2023) and President, North America of Taco Bell (from January 2018 to December 2019). She also held leadership roles as President and CEO of Sprinkles Cupcakes (2014 to 2017), Senior Vice President and General Manager of Fisher-Price at Mattel, Inc. (2017 to 2018), and various leadership positions at Starbucks Corporation (2002 to 2014). Her early career included corporate positions at Godiva Chocolatier, Coach, J. Crew, and Macy's. She currently serves on the board of directors of Vivid Seats Inc.

Craig Pommells Senior Vice President and Chief Financial Officer

Craig Pommells joined Cracker Barrel as Senior Vice President and Chief Financial Officer in December 2021. He is responsible for Internal Audit, Investor Relations, Financial Planning and Analysis, and all Accounting functions. Mr. Pommells has over 20 years of experience in the restaurant industry. Before joining Cracker Barrel, he served as Executive Vice President and Chief Financial Officer of Red Lobster. Prior to Red Lobster, he spent more than 10 years with Darden Restaurants in various finance and business analytics roles.

Chris Edwards Senior Vice President, Chief Strategy Officer

Chris Edwards joined Cracker Barrel in March 2024 as Senior Vice President, Chief Strategy Officer. He is responsible for leading the company's strategy and fueling long-term growth, overseeing areas such as the Transformation Management Office, Real Estate and Development, Construction, Innovation, Corporate Communications, Consumer Insights, and Margin Transformation. Mr. Edwards has extensive experience as a strategy leader, having served as Chief Strategy Officer at Canopy Growth Corporation and working at Boston Consulting Group and Constellation Brands.

Doug Hisel Senior Vice President, Store Operations

Doug Hisel was promoted to Senior Vice President of Store Operations in October 2025. In this role, he oversees Field Operations and Operations Services. Mr. Hisel is a nearly 20-year veteran of Cracker Barrel, having started his career with the company as an Associate Manager in 2007 and serving in various other operations roles of increasing responsibility.

Donna L. Roberts Senior Vice President, Chief Human Resources Officer

Donna L. Roberts was named Senior Vice President, Chief Human Resources Officer for Cracker Barrel in May 2020. She is responsible for the overall strategic leadership and management of Human Resources. Ms. Roberts joined Cracker Barrel in April 2012 as Associate General Counsel, advising the company on labor and employment law, and was promoted to Vice President and Deputy General Counsel in 2018, and then Vice President of Human Resources in 2019.

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Key Risks to Cracker Barrel Old Country Store (CBRL)

  1. Declining Customer Traffic and Evolving Consumer Preferences: Cracker Barrel is experiencing a significant decline in consumer traffic, with a 7.3% decrease reported in Q1 fiscal 2026. This trend is exacerbated by softening consumer sentiment and a shift in dining habits, as consumers increasingly seek unique dining experiences, healthier options, and greater convenience. The company's traditional offerings risk misalignment with these evolving tastes, leading to reduced sales and revenue.

  2. High Financial Leverage and Persistent Macroeconomic Headwinds: Cracker Barrel carries a substantial debt load, totaling $550.3 million as of the end of Q1 fiscal 2026, which includes convertible senior notes due in 2026 and 2030. This significant leverage limits financial flexibility and poses refinancing risks at potentially higher interest costs. The company is also heavily impacted by macroeconomic pressures such as commodity and wage inflation, with projected commodity inflation of 2.5% to 3.5% and hourly wage inflation of 3.0% to 4.0% for fiscal 2026. These factors put considerable pressure on operating costs and overall profitability.

  3. Intense Competitive Landscape: The casual dining industry is highly competitive, with numerous restaurant chains offering comparable menu items and experiences. Cracker Barrel faces strong competition from rivals such as Denny's, IHOP, and Bob Evans, which poses a constant threat to its market share. This competitive pressure contributes to the challenges in attracting and retaining customers, impacting the company's ability to grow sales and maintain its market position in an industry where switching costs for diners are effectively zero.

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A significant and accelerating cultural shift in consumer food preferences towards healthier, plant-based, and sustainably sourced options.

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Cracker Barrel Old Country Store, Inc. (CBRL) operates a chain of restaurant and gift stores primarily across the United States. Its main products and services include full-service casual dining and the sale of gifts, nostalgic items, and specialty food products in its retail stores.

The addressable markets for Cracker Barrel's main products and services in the U.S. are as follows:

  • Full-Service Restaurant Market (U.S.): The United States Full Service Restaurants Market is projected to reach approximately USD 360.91 billion in 2025. This market is expected to grow further, reaching USD 617.47 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 11.33% from 2025 to 2030.
  • Gifts Retailing Market (U.S.): The U.S. Gifts Retailing Market was valued at USD 24.18 billion in 2024. It is projected to grow at a CAGR of 5.49% during the forecast period of 2025 to 2032, reaching an estimated USD 25.51 billion in 2025.
  • Specialty Food Stores Market (U.S.): The market size for Specialty Food Stores in the U.S. is estimated at USD 32.3 billion in 2025. While the market experienced a slight decrease of 0.3% in 2025, it has seen a CAGR of 11.6% between 2020 and 2025.

AI Analysis | Feedback

Cracker Barrel Old Country Store (CBRL) is focusing on several key drivers to stimulate future revenue growth over the next two to three years, primarily through a strategic transformation plan aimed at enhancing the guest experience and optimizing operations.

  1. Menu Innovation and Optimization: The company has embarked on its most significant menu overhaul in decades, introducing new dishes designed to appeal to both loyal customers and new, younger diners. This strategy includes a "barbell pricing" approach, offering affordable staple items alongside new premium options. The aim is to balance nostalgia with modernity, reduce back-of-house costs, and improve dinner sales margins.

  2. Enhanced Guest Experience and Brand Refinement: Cracker Barrel is prioritizing operational execution and refining the overall brand to deliver an experience guests love. This involves a strategic pivot back to its traditional, nostalgic appeal following mixed customer reactions to earlier modernization attempts, including reverting to the "Old Timer" logo and traditional interiors in some pilot locations. The focus is on improving food quality, service, and the overall atmosphere to drive increased customer traffic.

  3. Digital and Off-Premise Growth & Loyalty Program Expansion: A significant driver involves winning in digital channels and growing off-premise sales, which accounted for approximately 17.2% of restaurant sales in Q4 2024. The company's loyalty program has quickly amassed millions of users, demonstrating its effectiveness in driving incremental sales and traffic. Investments in technology and data-driven customer engagement are key to these efforts.

  4. Targeted Store Refreshes and New Store Openings: While the company has paused widespread modern remodels due to guest feedback, it continues to invest in targeted store refreshes that align with its traditional brand identity, aiming to improve the dining and retail environment. Additionally, Cracker Barrel plans for modest expansion by opening a small number of new Cracker Barrel stores, with two new locations projected for fiscal year 2026.

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Share Repurchases

  • A new share repurchase program was authorized in September 2025, allowing for the repurchase of up to $100 million of outstanding common stock.
  • As of May 2024, Cracker Barrel maintained a share repurchase authorization with $138 million of remaining availability.
  • In June 2021, the company expected to repurchase approximately $35 million of its common stock through privately negotiated transactions.

Share Issuance

  • During the fourth quarter of fiscal 2025, Cracker Barrel completed the issuance and sale of $345 million aggregate principal amount of 1.75% Convertible Senior Notes due 2030.
  • In June 2021, Cracker Barrel announced the pricing of $275 million aggregate principal amount of 0.625% convertible senior notes due 2026.

Capital Expenditures

  • In fiscal year 2025, Cracker Barrel invested $158.6 million in capital expenditures, which included approximately $105 million for store maintenance, $20 million for remodels, $19 million for technology and other strategic initiatives, and $15 million for new stores.
  • Expected capital expenditures for fiscal year 2026 are projected to range from $135 million to $150 million, with the majority allocated to maintenance and no spending on new remodels.
  • For fiscal year 2025, capital expenditures were initially projected between $160 million and $180 million, later refined to a range of $160 million to $170 million.

Better Bets than Cracker Barrel Old Country Store (CBRL)

Trade Ideas

Select ideas related to CBRL. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE11302025BBWIBath & Body WorksDip BuyDB | Insider Buys | Low D/EDip Buy with Strong Insider Buying
Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
10.6%10.6%0.0%
HRB_11262025_Dip_Buyer_FCFYield11262025HRBH&R BlockDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.8%4.8%-0.1%
LRN_11262025_Dip_Buyer_FCFYield11262025LRNStrideDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
2.6%2.6%-4.4%
ABNB_11212025_Dip_Buyer_FCFYield11212025ABNBAirbnbDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
19.5%19.5%0.0%
MTN_11212025_Dip_Buyer_FCFYield11212025MTNVail ResortsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.9%3.9%-1.6%
CBRL_9302023_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09302023CBRLCracker Barrel Old Country StoreDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
12.2%-26.5%-42.9%
CBRL_3312020_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312020CBRLCracker Barrel Old Country StoreDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
40.4%113.2%-16.0%

Recent Active Movers

More From Trefis

Peer Comparisons for Cracker Barrel Old Country Store

Peers to compare with:

Financials

CBRLDRITXRHEATCAKEFWRGMedian
NameCracker .Darden R.Texas Ro.Brinker .Cheeseca.First Wa. 
Mkt Price26.41189.91170.80150.9651.6515.79101.31
Mkt Cap0.622.211.36.72.41.04.6
Rev LTM3,43612,3645,8345,5943,7111,1694,653
Op Inc LTM381,46951760725026383
FCF LTM141,068341470158-31249
FCF 3Y Avg52942291264102-6183
CFO LTM1701,768747737320130529
CFO 3Y Avg1951,590648484259112372

Growth & Margins

CBRLDRITXRHEATCAKEFWRGMedian
NameCracker .Darden R.Texas Ro.Brinker .Cheeseca.First Wa. 
Rev Chg LTM-1.6%8.3%14.4%23.2%4.9%17.3%11.4%
Rev Chg 3Y Avg1.1%8.2%14.4%13.2%5.2%18.3%10.7%
Rev Chg Q-5.7%10.4%12.8%18.5%4.8%25.6%11.6%
QoQ Delta Rev Chg LTM-1.4%2.4%2.9%3.9%1.1%5.8%2.6%
Op Mgn LTM1.1%11.9%8.9%10.9%6.7%2.2%7.8%
Op Mgn 3Y Avg2.2%11.8%8.6%7.6%5.7%3.9%6.7%
QoQ Delta Op Mgn LTM-1.0%-0.0%-0.4%0.6%0.1%0.2%0.0%
CFO/Rev LTM4.9%14.3%12.8%13.2%8.6%11.1%12.0%
CFO/Rev 3Y Avg5.7%13.8%12.6%9.8%7.2%11.1%10.5%
FCF/Rev LTM0.4%8.6%5.8%8.4%4.3%-2.7%5.1%
FCF/Rev 3Y Avg1.5%8.1%5.6%5.2%2.8%-0.3%4.0%

Valuation

CBRLDRITXRHEATCAKEFWRGMedian
NameCracker .Darden R.Texas Ro.Brinker .Cheeseca.First Wa. 
Mkt Cap0.622.211.36.72.41.04.6
P/S0.21.81.91.20.60.81.0
P/EBIT32.115.821.911.712.940.918.9
P/E34.820.126.015.215.0194.023.0
P/CFO3.512.515.29.27.57.48.3
Total Yield6.8%8.0%4.7%6.6%8.9%0.5%6.7%
Dividend Yield4.0%3.0%0.8%0.0%2.2%0.0%1.5%
FCF Yield 3Y Avg4.1%4.8%3.0%7.4%5.0%-0.6%4.4%
D/E2.00.30.10.30.91.00.6
Net D/E2.00.30.10.30.81.00.5

Returns

CBRLDRITXRHEATCAKEFWRGMedian
NameCracker .Darden R.Texas Ro.Brinker .Cheeseca.First Wa. 
1M Rtn0.9%9.6%0.5%7.6%14.8%-6.2%4.3%
3M Rtn-39.3%2.6%6.0%10.2%-5.4%0.3%1.5%
6M Rtn-56.7%-11.3%-6.4%-14.6%-12.7%4.9%-12.0%
12M Rtn-50.3%4.8%-5.0%10.0%9.7%-18.1%-0.1%
3Y Rtn-69.2%51.0%86.5%358.3%74.6%11.1%62.8%
1M Excs Rtn-2.5%6.2%-2.9%4.2%11.4%-9.6%0.9%
3M Excs Rtn-44.3%-2.6%0.2%8.5%-9.3%-4.2%-3.4%
6M Excs Rtn-70.5%-23.6%-19.8%-29.8%-27.7%-17.0%-25.7%
12M Excs Rtn-66.4%-12.6%-21.3%-4.4%-7.9%-32.0%-16.9%
3Y Excs Rtn-150.1%-30.2%7.2%274.5%0.3%-69.6%-14.9%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment3,471    
Restaurant 2,7412,5662,2272,032
Retail 702702594491
Total3,4713,4433,2682,8212,523


Net Income by Segment
$ Mil20252024202320222021
Single Segment41    
Total41    


Price Behavior

Price Behavior
Market Price$26.41 
Market Cap ($ Bil)0.6 
First Trading Date09/07/1984 
Distance from 52W High-63.0% 
   50 Days200 Days
DMA Price$30.47$46.33
DMA Trenddowndown
Distance from DMA-13.3%-43.0%
 3M1YR
Volatility46.3%58.3%
Downside Capture229.96169.32
Upside Capture-49.5975.99
Correlation (SPY)17.2%32.4%
CBRL Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.770.600.741.140.970.95
Up Beta-2.70-1.66-0.58-0.331.051.15
Down Beta-1.761.131.131.720.450.54
Up Capture68%-69%-104%8%71%34%
Bmk +ve Days12253873141426
Stock +ve Days11162249106344
Down Capture261%211%247%223%131%107%
Bmk -ve Days7162452107323
Stock -ve Days8243974139398

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of CBRL With Other Asset Classes (Last 1Y)
 CBRLSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-48.3%8.3%19.2%71.9%8.9%6.0%-10.4%
Annualized Volatility58.3%24.3%19.5%19.3%15.3%17.1%35.0%
Sharpe Ratio-0.910.270.782.690.360.18-0.12
Correlation With Other Assets 38.8%32.6%-6.7%9.7%27.5%28.2%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of CBRL With Other Asset Classes (Last 5Y)
 CBRLSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-25.2%9.8%14.9%18.7%11.7%4.8%32.6%
Annualized Volatility43.9%23.8%17.1%15.5%18.7%18.9%48.7%
Sharpe Ratio-0.510.370.700.970.510.170.59
Correlation With Other Assets 42.3%38.5%1.4%5.4%33.7%21.7%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of CBRL With Other Asset Classes (Last 10Y)
 CBRLSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-10.8%13.1%14.7%14.9%6.9%5.2%69.2%
Annualized Volatility41.6%22.0%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio-0.130.550.700.830.310.220.90
Correlation With Other Assets 46.6%42.9%0.8%15.0%40.9%16.6%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity5,111,041
Short Interest: % Change Since 113020250.2%
Average Daily Volume2,677,585
Days-to-Cover Short Interest1.91
Basic Shares Quantity22,288,991
Short % of Basic Shares22.9%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
12/9/20253.5%-3.8% 
9/17/2025-7.6%-11.7%-18.8%
6/5/2025-7.2%-3.7%14.9%
3/6/20257.6%8.7%-10.4%
12/4/2024-1.8%-6.6%0.4%
9/19/2024-1.1%4.9%19.9%
5/16/2024-14.5%-20.3%-21.5%
2/27/2024-3.1%-6.6%-4.7%
...
SUMMARY STATS   
# Positive478
# Negative181514
Median Positive2.8%4.9%3.8%
Median Negative-3.4%-6.6%-10.4%
Max Positive7.6%23.4%19.9%
Max Negative-14.5%-20.3%-42.8%

SEC Filings

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Report DateFiling DateFiling
103120251209202510-Q 10/31/2025
7312025926202510-K 8/1/2025
4302025605202510-Q 5/2/2025
1312025306202510-Q 1/31/2025
103120241204202410-Q 11/1/2024
7312024927202410-K 8/2/2024
4302024530202410-Q 4/26/2024
1312024227202410-Q 1/26/2024
103120231130202310-Q 10/27/2023
7312023926202310-K 7/28/2023
4302023606202310-Q 4/28/2023
1312023228202310-Q 1/27/2023
103120221202202210-Q 10/28/2022
7312022927202210-K 7/29/2022
4302022607202210-Q 4/29/2022
1312022224202210-Q 1/28/2022