Dine Brands Global (DIN)


Market Price (9/19/2026): $27.81 | Market Cap: $333.7 MilSector: Consumer Discretionary | Industry: Restaurants

Dine Brands Global (DIN)


Market Price (9/19/2026): $27.81
Market Cap: $333.7 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 8.0%, Dividend Yield is 6.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%

Low stock price volatility
Vol 12M is 46%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Online Marketplaces, Direct-to-Consumer Brands, Show more.

Weak multi-year price returns
2Y Excs Rtn is -33%, 3Y Excs Rtn is -108%

Meaningful 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 13%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 475%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 49x

Key risks
DIN key risks include [1] a significant debt burden resulting in negative equity, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.0%, Dividend Yield is 6.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%
1 Low stock price volatility
Vol 12M is 46%
2 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Online Marketplaces, Direct-to-Consumer Brands, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -33%, 3Y Excs Rtn is -108%
4 Meaningful 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 13%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 475%
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 49x
7 Key risks
DIN key risks include [1] a significant debt burden resulting in negative equity, Show more.

DIN in ETFs

Weight = DIN's share of each fund

VTI0.00%
ITOT0.00%
IWM0.01%
FNDA0.06%
IWN0.02%
VTWO0.01%
DFAS0.01%
SCHA0.01%
+4 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/15/2026

Dine Brands Global (DIN) stock has lost about 10% since 5/31/2026 because of the following key factors:

1. Dine Brands Global reported a significant decline in profitability and operating cash flow for fiscal Q2 2026, which ended on June 28, 2026. The company announced earnings per share (EPS) of $1.16, missing the consensus estimate of $1.20 by $0.04. Diluted EPS sharply fell to $0.35 in fiscal Q2 2026, down from $0.89 in the prior year's comparable quarter. Net income available to common stockholders decreased from $13.2 million in fiscal Q2 2025 to $4.2 million in fiscal Q2 2026. Additionally, operating cash flow for the first six months of fiscal 2026 saw a substantial decline of 62.5%, falling to $19.9 million from $53.1 million in the same period of the previous year.

2. Weak comparable sales performance at Applebee's and rising operational costs pressured margins. While IHOP's same-restaurant sales increased by 1.5% in fiscal Q2 2026, Applebee's experienced a decline of 1.8%. Management acknowledged at a September 2026 investor conference that Applebee's sales gains were insufficient, requiring further menu, marketing, and renovation efforts. Gross profit and adjusted EBITDA for the company declined due to increased restaurant costs, which rose by $18.2 million to $49.1 million, and higher general and administrative (G&A) expenses. G&A expenses were $55.6 million in fiscal Q2 2026, up from $50.8 million in fiscal Q2 2025, driven by employee costs, reorganization, and acquisition-related transaction costs.

Show more
Updated on 9/15/2026

Dine Brands Global (DIN) stock has lost about 10% since 5/31/2026 because of the following key factors:

1. Dine Brands Global reported a significant decline in profitability and operating cash flow for fiscal Q2 2026, which ended on June 28, 2026. The company announced earnings per share (EPS) of $1.16, missing the consensus estimate of $1.20 by $0.04. Diluted EPS sharply fell to $0.35 in fiscal Q2 2026, down from $0.89 in the prior year's comparable quarter. Net income available to common stockholders decreased from $13.2 million in fiscal Q2 2025 to $4.2 million in fiscal Q2 2026. Additionally, operating cash flow for the first six months of fiscal 2026 saw a substantial decline of 62.5%, falling to $19.9 million from $53.1 million in the same period of the previous year.

2. Weak comparable sales performance at Applebee's and rising operational costs pressured margins. While IHOP's same-restaurant sales increased by 1.5% in fiscal Q2 2026, Applebee's experienced a decline of 1.8%. Management acknowledged at a September 2026 investor conference that Applebee's sales gains were insufficient, requiring further menu, marketing, and renovation efforts. Gross profit and adjusted EBITDA for the company declined due to increased restaurant costs, which rose by $18.2 million to $49.1 million, and higher general and administrative (G&A) expenses. G&A expenses were $55.6 million in fiscal Q2 2026, up from $50.8 million in fiscal Q2 2025, driven by employee costs, reorganization, and acquisition-related transaction costs.

3. Negative analyst sentiment and elevated company leverage contributed to investor concern. As of September 11, 2026, Dine Brands Global received a consensus "Reduce" rating from nine brokerages, with one analyst issuing a "sell" recommendation and eight recommending "hold." Zacks Research downgraded the stock from "hold" to "strong sell" on August 4, 2026. Furthermore, the company's Chief Financial Officer stated on September 15, 2026, that leverage was slightly above 5.0x, exceeding the long-term target in the mid-4.0x range, indicating a higher debt burden.

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Stock Movement Drivers

Fundamental Drivers

The -9.9% change in DIN stock from 5/31/2026 to 9/18/2026 was primarily driven by a -58.8% change in the company's Net Income Margin (%).
(LTM values as of)53120269182026Change
Stock Price ($)30.9827.91-9.9%
Change Contribution By: 
Total Revenues ($ Mil)8909001.1%
Net Income Margin (%)1.8%0.8%-58.8%
P/E Multiple23.449.3110.9%
Shares Outstanding (Mil)12122.5%
Cumulative Contribution-9.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/18/2026
ReturnCorrelation
DIN-9.9% 
Market (SPY)0.9%-8.7%
Sector (XLY)-8.1%28.3%

Fundamental Drivers

The -8.1% change in DIN stock from 2/28/2026 to 9/18/2026 was primarily driven by a -61.2% change in the company's Net Income Margin (%).
(LTM values as of)22820269182026Change
Stock Price ($)30.3627.91-8.1%
Change Contribution By: 
Total Revenues ($ Mil)8799002.3%
Net Income Margin (%)1.9%0.8%-61.2%
P/E Multiple23.049.3114.4%
Shares Outstanding (Mil)13127.9%
Cumulative Contribution-8.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/18/2026
ReturnCorrelation
DIN-8.1% 
Market (SPY)11.6%11.1%
Sector (XLY)-4.8%31.4%

Fundamental Drivers

The 22.0% change in DIN stock from 8/31/2025 to 9/18/2026 was primarily driven by a 569.6% change in the company's P/E Multiple.
(LTM values as of)83120259182026Change
Stock Price ($)22.8727.9122.0%
Change Contribution By: 
Total Revenues ($ Mil)8459006.5%
Net Income Margin (%)5.5%0.8%-86.2%
P/E Multiple7.449.3569.6%
Shares Outstanding (Mil)151224.2%
Cumulative Contribution22.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/18/2026
ReturnCorrelation
DIN22.0% 
Market (SPY)19.4%17.2%
Sector (XLY)-3.6%31.3%

Fundamental Drivers

The -39.9% change in DIN stock from 8/31/2023 to 9/18/2026 was primarily driven by a -91.6% change in the company's Net Income Margin (%).
(LTM values as of)83120239182026Change
Stock Price ($)46.4727.91-39.9%
Change Contribution By: 
Total Revenues ($ Mil)8639004.2%
Net Income Margin (%)9.0%0.8%-91.6%
P/E Multiple9.149.3440.6%
Shares Outstanding (Mil)151227.6%
Cumulative Contribution-39.9%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/18/2026
ReturnCorrelation
DIN-39.9% 
Market (SPY)75.6%31.4%
Sector (XLY)33.0%38.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
DIN Return31%-12%-20%-36%14%-11%-40%
Peers Return5%-6%31%52%-7%36%146%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
DIN Win Rate58%42%25%25%58%56% 
Peers Win Rate52%38%58%62%43%62% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
DIN Max Drawdown-29%-25%-47%-42%-40%-35% 
Peers Max Drawdown-36%-35%-24%-26%-36%-23% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: DRI, EAT, TXRH, BLMN, CAKE. See DIN 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] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventDINS&P 500
2025 US Tariff Shock
  % Loss-29.6%-18.8%
  % Gain to Breakeven42.0%23.1%
  Time to Breakeven65 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-18.6%-24.5%
  % Gain to Breakeven22.9%32.4%
  Time to Breakeven19 days427 days
2020 COVID-19 Crash
  % Loss-82.2%-33.7%
  % Gain to Breakeven463.0%50.9%
  Time to Breakeven373 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-43.8%-3.7%
  % Gain to Breakeven78.0%3.9%
  Time to Breakeven250 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-20.6%-12.2%
  % Gain to Breakeven26.0%13.9%
  Time to Breakeven958 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-36.0%-17.9%
  % Gain to Breakeven56.3%21.8%
  Time to Breakeven400 days123 days

Compare to DRI, EAT, TXRH, BLMN, CAKE

In The Past

Dine Brands Global's stock fell -29.6% during the 2025 US Tariff Shock. Such a loss loss requires a 42.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventDINS&P 500
2025 US Tariff Shock
  % Loss-29.6%-18.8%
  % Gain to Breakeven42.0%23.1%
  Time to Breakeven65 days79 days
2020 COVID-19 Crash
  % Loss-82.2%-33.7%
  % Gain to Breakeven463.0%50.9%
  Time to Breakeven373 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-43.8%-3.7%
  % Gain to Breakeven78.0%3.9%
  Time to Breakeven250 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-20.6%-12.2%
  % Gain to Breakeven26.0%13.9%
  Time to Breakeven958 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-36.0%-17.9%
  % Gain to Breakeven56.3%21.8%
  Time to Breakeven400 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-46.8%-15.4%
  % Gain to Breakeven88.0%18.2%
  Time to Breakeven97 days125 days
2008-2009 Global Financial Crisis
  % Loss-84.0%-53.4%
  % Gain to Breakeven526.4%114.4%
  Time to Breakeven56 days1085 days

Compare to DRI, EAT, TXRH, BLMN, CAKE

In The Past

Dine Brands Global's stock fell -29.6% during the 2025 US Tariff Shock. Such a loss loss requires a 42.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Dine Brands Global (DIN)

Dine Brands Global, Inc. (NYSE: DIN) is a leading full-service restaurant company that primarily operates through the franchising of two iconic brands: Applebee's Neighborhood Grill + Bar and International House of Pancakes (IHOP). The company's business model focuses on owning, managing, and expanding these well-established restaurant concepts, with a strong emphasis on growing its global presence through a network of franchised locations.

The main products and services offered by Dine Brands revolve around its distinct restaurant concepts. Applebee's serves the casual dining market, providing American fare with drinks and a bar and grill ambiance, appealing to a wide range of customers seeking a relaxed meal. IHOP targets the family dining category, offering full table service with diverse food and beverage options, particularly popular for breakfast and all-day dining among families and individuals. Beyond franchising, Dine Brands also generates revenue from renting restaurant properties to its franchisees and providing financing for franchise fees and equipment leases, primarily serving its franchisees in the United States and internationally.

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Dine Brands Global is like Yum! Brands (YUM), but for casual and family dining restaurants like Applebee's and IHOP.

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  • Restaurant Franchising: Licensing the Applebee's Neighborhood Grill + Bar and IHOP restaurant concepts to independent franchisees.
  • Casual Dining Experience (Applebee's): Offering American fare, alcoholic beverages, and a full-service bar and grill dining atmosphere.
  • Family Dining Experience (IHOP): Providing full table service with a wide range of food and beverage offerings, specializing in breakfast items, lunch, and dinner.
  • Restaurant Property Leasing: Leasing or subleasing restaurant properties, primarily to franchisees.
  • Franchise Financing: Providing financing solutions for franchise fees and equipment leases to support franchisees.

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Dine Brands Global (DIN) primarily sells to other companies, specifically its franchisees. The company's major customers are the numerous independent business entities and individuals who own and operate the franchised Applebee's Neighborhood Grill + Bar and IHOP restaurants.

While Dine Brands Global has thousands of franchised locations, the specific names of these franchisee companies are not publicly disclosed and are typically independent, privately-held businesses rather than public companies. Therefore, individual customer names and symbols cannot be listed.

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Major Suppliers:

  • Coca-Cola Company (KO)

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Here is the management team for Dine Brands Global (symbol: DIN):

John Peyton, Chief Executive Officer and Interim Applebee's President

John Peyton joined Dine Brands Global as CEO in January 2021. He also assumed the role of Interim Applebee's President in March 2025. Prior to Dine Brands, he served as President and Chief Executive Officer of Realogy Franchise Group, where he oversaw a portfolio of real estate franchise brands including Century 21 and Coldwell Banker. Before Realogy, Mr. Peyton spent 17 years as a senior executive with Starwood Hotels & Resorts Worldwide Inc., most recently as Chief Marketing Officer. During his tenure at Starwood, he also served as Chief Operating Officer of Starwood's North America Hotel Division and led the company's launch of Six Sigma. He began his career with PricewaterhouseCoopers in both their accounting and management consulting practices.

Vance Chang, Chief Financial Officer

Vance Chang was named Chief Financial Officer of Dine Brands Global, effective June 14, 2021. Before joining Dine Brands, he served as CFO for Exer Urgent Care. Prior to that, he held the CFO position at Yogaworks, which he led through an IPO in 2017. His experience also includes roles at Pressed Juicery, Moelis & Company, Oracle, and Deloitte & Touche. Mr. Chang received a degree in accounting from the University of Washington and an MBA from The Wharton School at the University of Pennsylvania.

Scott Gladstone, Chief Development Officer and International President

Scott Gladstone was promoted to Chief Development Officer in January 2024 and continues to serve as Dine Brands' International President, a role he has held since January 2023. In his current role, he oversees global strategy development, planning, innovation, and new concepts to drive growth for the company, as well as franchise development globally. He joined Dine Brands in 2016 as head of U.S. development for Applebee's, later expanding his responsibilities to include business analytics and consumer insights for the brand. Before joining Dine Brands, Mr. Gladstone was a project leader at The Boston Consulting Group, focusing on strategy and operations projects across various industries.

Joseph Camperlingo, Senior Vice President and Chief Accounting Officer

Joseph Camperlingo was appointed Senior Vice President and Chief Accounting Officer of Dine Brands Global, effective November 6, 2025, having joined the company on September 29, 2025, for a transition period. He succeeded Allison Hall, who retired. Prior to this role, Mr. Camperlingo served as Vice President, Transaction Support & Policy at The Walt Disney Company starting in 2018. He also previously worked at Deloitte.

Christine Son, Senior Vice President, Legal, General Counsel and Secretary

Christine Son became Senior Vice President for legal, general counsel, and secretary of Dine Brands Global in April 2021. She has worked at Dine Brands for over 10 years and is known as a brand-focused attorney with extensive knowledge of the restaurant business. In addition to legal matters, she oversees risk management, franchise administration, government relations, and internal audit. Before her roles at Dine Brands, Ms. Son served as Senior Counsel at Roll Law Group and as an Associate with Sidley Austin. She has been instrumental in safeguarding Dine's franchise model and guiding the company through acquisitions and refinancing.

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The key risks to Dine Brands Global (DIN) primarily revolve around its substantial financial leverage, the struggle of its core brands in a highly competitive market, and concerns regarding corporate governance and leadership.

  1. High Debt Load and Financial Leverage
    Dine Brands Global carries a significant debt load, which poses a pressing financial risk to the company. As of June 2025, the total debt stood at approximately $1.64 billion USD. The company also underwent a refinancing transaction in June 2025, issuing $600 million in Series 2025-1 6.720% Fixed Rate Senior Secured Notes, resulting in increased interest rates. This high level of indebtedness means a substantial portion of operating cash flow is allocated to debt service rather than strategic investments or growth. The company's Debt-to-Equity ratio was reported at -7.016 as of September 30, 2025, indicating negative shareholder equity and a deeply leveraged capital structure. A high Debt/EBITDA ratio of 9.14x suggests little room for error if sales at Applebee's or IHOP experience a major downturn.
  2. Declining Relevance and Performance of Core Brands in a Competitive Market
    Dine Brands Global's flagship brands, Applebee's and IHOP, are struggling to maintain relevance and performance in a highly competitive casual and family dining market. While the casual dining sector has experienced a boom, with competitors like Chili's and Olive Garden showing significant growth, Applebee's has faced declining same-store sales and a projected decrease in restaurant count. IHOP, despite performing better than Applebee's in some periods, continues to underperform compared to industry leaders. The brands are finding it challenging to resonate with younger demographics, which are driving the casual dining revival. This competitive pressure, coupled with rising operating costs such as food and labor, places significant strain on profitability.
  3. Governance and Leadership Issues
    Criticism has been leveled against Dine Brands Global's leadership and board of directors, with some analysts attributing the decline in shareholder value, stalled sales, and eroding franchisee confidence to poor governance. The company's stock has reportedly collapsed by approximately 70% since early 2021, while the CEO's compensation has remained high. Issues cited include a lack of operational expertise on the board, insufficient shareholder and franchisee representation, and a perceived disconnect between management and franchisees, impacting overall system morale and execution.

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Emerging threats for Dine Brands Global (DIN) include:
  • The emergence and rapid growth of **ghost kitchens and virtual restaurant brands**. These new operational models leverage technology and third-party delivery platforms to offer food for delivery and takeout with significantly lower overhead costs compared to traditional brick-and-mortar restaurants like Applebee's and IHOP. This allows them to compete aggressively on price, specialization, and convenience in the off-premise dining market, directly siphoning market share from established full-service restaurant concepts.
  • The continued and aggressive **expansion and innovation in the fast-casual dining segment**. Fast-casual restaurants offer a distinct value proposition of higher-quality food than traditional fast food, combined with quicker service and often customizable options, at a price point that frequently undercuts full-service casual dining. This segment continues to capture market share by catering to evolving consumer preferences for speed, freshness, and perceived healthier options, directly impacting the customer base for both Applebee's (casual dining) and IHOP (family dining).

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Dine Brands Global operates in the casual dining and family dining segments of the restaurant industry with its Applebee's and IHOP brands, respectively. The addressable markets for their main products and services can be identified as follows:

  • Global Casual Dining Market: The global casual dining market size was valued at approximately USD 333.02 billion in 2025. It is projected to reach USD 575.5 billion by 2035, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2035.
  • North American Casual Dining Market: North America accounts for 28% of the global casual dining market share. Based on the global market size in 2025, the North American casual dining market is estimated to be approximately USD 93.25 billion.
  • U.S. Full-Service Restaurant Market: As both casual dining and family dining fall under the full-service restaurant category, the broader U.S. full-service restaurant market provides an addressable market for both Applebee's and IHOP. This market was valued at USD 362.15 billion in 2025 and is estimated to grow to USD 685.11 billion by 2031, with a CAGR of 11.07% during the forecast period (2026-2031).

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Expected Drivers of Future Revenue Growth for Dine Brands Global (DIN)

  • Expansion of Dual-Branded Restaurants: Dine Brands Global is aggressively pursuing an expansion strategy focused on dual-branded Applebee's and IHOP locations. These co-branded restaurants, which combine both concepts under one roof, have demonstrated significantly higher sales (1.5 to 2.5 times more than single-brand restaurants) and improved restaurant-level margins. The company plans to significantly increase the number of these locations, with at least 50 domestic dual-branded openings projected, primarily by franchisees. This strategy maximizes market penetration and operational efficiency by utilizing a single kitchen, POS system, and cross-trained staff.
  • Menu Innovation and Value Offerings: Both Applebee's and IHOP are driving revenue growth through continuous menu innovation and evolving value platforms. Applebee's has successfully introduced new, high-selling burger innovations and maintained its popular 2 for $25 menu, which accounts for a substantial portion of transactions and boosts off-premise business. IHOP has expanded its value menu to seven days a week while also strategically promoting premium offerings to encourage upsells, leading to improved average check size. This approach aims to attract guests with compelling value while driving increased spending on premium items.
  • Growth in Off-Premise Sales and Digital Engagement: Off-premise dining, including to-go and delivery, continues to be a crucial revenue driver for both Applebee's and IHOP, consistently accounting for over 20% of sales mix. The company is focused on enhancing the guest experience and driving profitability through improved off-premise order accuracy. Digital marketing and social media engagement, alongside loyalty programs like Club Applebee's, are also key strategies for driving repeat business and overall sales.
  • Restaurant Remodels and Enhanced Guest Experience: Dine Brands Global is investing in refreshing the physical environment of its restaurants through remodeling programs, such as Applebee's "Lookin' Good" initiative. These remodels have shown promising results, with early indications of mid-single-digit sales lifts in updated locations. The focus on improving the "vibe" – food, service, and atmosphere – is considered a meaningful opportunity to drive traffic and strengthen brand relevance, thereby contributing to sustained positive performance.

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Capital Allocation Decisions for Dine Brands Global (DIN)

Share Repurchases

  • Dine Brands Global repurchased approximately $61 million of its common stock in 2025.
  • In 2024, the company repurchased approximately $12 million of its common stock.
  • Approximately $26 million of common stock was repurchased by the company in 2023.

Outbound Investments

  • In 2025, Dine Brands Global acquired 10 IHOP restaurants in March and 12 Applebee's restaurants in May, converting them to company-owned operations.
  • The company acquired 47 Applebee's restaurants in November 2024.
  • Dine Brands Global completed the acquisition of Fuzzy's Taco Shop in December 2022, which included 135 franchised and three company-owned restaurants.

Capital Expenditures

  • Capital expenditures are projected to be between $25 million and $35 million for 2026, primarily for continued investment in company-owned restaurants, including dual-brand conversions.
  • For fiscal year 2025, capital expenditures were estimated to be between $30 million and $40 million.
  • Capital expenditures through the third quarter of 2024 were $10.3 million, a decrease from $32 million in the same period of 2023, which included increased spending in IT and other projects.

Better Bets vs. Dine Brands Global (DIN)

Peer Outperformance in Restaurants

DIN has trailed 68% of its 34 Restaurants peers over 5Y. Among the peers that beat it are CAKE, MCD and SBUX. Restaurants ranks 9th of 23 industries in Consumer Discretionary by median 5Y return.
Share of Restaurants constituents that DIN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
84%
of 44 industry peers · 20.0% return
3Y
34%
of 41 industry peers · -38.8% return
5Y
32%
of 34 industry peers · -57.4% return
Restaurants peers with revenue growth within 4pp of DIN's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
DIN Dine Brands Global 1.5% 49.3x 20.0%-38.8%-57.4%
CAKE Cheesecake Factory 4.4% 25.2x 78.3%249.6%141.0% +198pp
MCD McDonald's 4.6% 20.0x -15.4%-4.0%15.0% +72pp
SBUX Starbucks 3.1% 55.1x 17.8%8.4%-4.3% +53pp
DPZ Domino's Pizza 3.7% 16.4x -30.1%-19.3%-37.1% +20pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Restaurants is DIN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -15.6%76.9%68.6% LINC 298% · PRDO 228% · UTI 224%
Homebuilding 18 -13.4%25.9%47.3% GRBK 187% · PHM 153% · TOL 123%
Specialty Stores 7 1.5%39.8%4.9% SIG 31% · FIVE 22% · ASO 14%
Hotels, Resorts & Cruise Lines 22 12.0%42.6%1.5% RCL 203% · MAR 146% · HLT 136%
Home Improvement Retail 5 -26.6%-6.0%1.4% HVT 13% · LOW 1% · HD 1%
Automotive Retail 18 -21.2%-4.9%-2.0% MUSA 224% · PAG 149% · ORLY 112%
Distributors 4 -12.8%-27.1%-13.0% ARMK 157% · GPC 21% · LKQ -47%
Home Furnishings 4 -7.7%19.8%-14.9% SGI 40% · LZB 1% · MHK -31%
Restaurants ← 35 -15.4%-17.8%-19.0% EAT 292% · CAKE 141% · BH-A 126%
Specialized Consumer Services 10 -17.7%18.1%-21.0% HRB 108% · FTDR 73% · SCI 37%
Footwear 9 45.7%41.5%-21.2% WEYS 163% · SHOO 19% · DECK 8%
Leisure Products 13 -26.9%-22.9%-36.0% GOLF 70% · HAS 10% · BC -23%
Apparel, Accessories & Luxury Goods 27 -12.4%0.0%-37.7% RL 228% · TPR 223% · ELA 198%
Leisure Facilities 11 -4.7%0.0%-37.9% OSW 124% · JAKK 110% · ESCA 25%
Automotive Parts & Equipment 38 -15.4%-15.6%-39.9% MOD 1579% · GTX 309% · BWA 80%
Casinos & Gaming 20 -14.1%-30.6%-41.9% MCRI 106% · RRR 36% · BYD 25%
Apparel Retail 25 -9.3%10.1%-43.3% ANF 264% · URBN 131% · ROST 109%
Household Appliances 18 -7.1%8.5%-43.9% KEQU 157% · FLXS 145% · HBB 128%
Computer & Electronics Retail 3 -12.5%29.2%-55.8% BBY 7% · GME -56% · UPBD -63%
Broadline Retail 15 -8.1%12.7%-57.5% DDS 310% · EBAY 65% · AMZN 47%
Automobile Manufacturers 8 -79.1%-52.6%-73.2% GM 67% · TSLA 44% · F 33%
Consumer Electronics 11 -14.6%-17.8%-76.6% AXIL 2695% · GRMN 81% · SONO -58%
Other Specialty Retail 18 -37.7%-48.9%-78.8% TLF 114% · BBW 65% · WINA 55%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

DINDRIEATTXRHBLMNCAKEMedian
NameDine Bra.Darden R.Brinker .Texas Ro.Bloomin .Cheeseca. 
Mkt Price27.91209.28196.71167.568.0796.51132.03
Mkt Cap0.323.98.311.00.74.56.4
Rev LTM90013,2115,8076,2323,9803,8774,893
Op Inc LTM1311,607628490129271380
FCF LTM61,088558400155205303
FCF 3Y Avg731,033398360102130245
CFO LTM561,848789803320354572
CFO 3Y Avg1021,720630733305292468

Growth & Margins

DINDRIEATTXRHBLMNCAKEMedian
NameDine Bra.Darden R.Brinker .Texas Ro.Bloomin .Cheeseca. 
Rev Chg LTM6.5%9.4%7.9%9.9%1.2%5.7%7.2%
Rev Chg 3Y Avg1.5%8.0%12.2%12.8%-1.2%4.4%6.2%
Rev Chg Q4.4%13.7%5.1%11.1%1.3%7.7%6.4%
QoQ Delta Rev Chg LTM1.1%3.5%1.3%2.8%0.3%1.9%1.6%
Op Inc Chg LTM-13.2%11.9%13.5%-7.5%-15.6%11.2%1.9%
Op Inc Chg 3Y Avg-8.8%9.7%56.8%13.1%-26.5%28.0%11.4%
Op Mgn LTM14.5%12.2%10.8%7.9%3.2%7.0%9.3%
Op Mgn 3Y Avg18.2%12.0%9.1%8.7%4.5%6.4%8.9%
QoQ Delta Op Mgn LTM-1.0%0.3%0.2%-0.3%0.3%0.2%0.2%
CFO/Rev LTM6.2%14.0%13.6%12.9%8.0%9.1%11.0%
CFO/Rev 3Y Avg12.1%14.1%11.9%13.1%7.8%7.9%12.0%
FCF/Rev LTM0.7%8.2%9.6%6.4%3.9%5.3%5.9%
FCF/Rev 3Y Avg8.7%8.5%7.4%6.4%2.6%3.5%6.9%

Valuation

DINDRIEATTXRHBLMNCAKEMedian
NameDine Bra.Darden R.Brinker .Texas Ro.Bloomin .Cheeseca. 
Mkt Cap0.323.98.311.00.74.56.4
P/S0.41.81.41.80.21.21.3
P/Op Inc2.614.913.322.55.416.614.1
P/EBIT3.515.113.422.514.521.914.8
P/E49.319.817.126.625.025.225.1
P/CFO6.012.910.613.72.212.711.6
Total Yield8.0%7.9%5.8%5.5%5.9%5.2%5.8%
Dividend Yield6.0%2.9%0.0%1.7%1.8%1.2%1.8%
FCF Yield 3Y Avg16.3%4.7%6.6%2.9%10.6%4.3%5.7%
D/E5.00.30.20.12.80.50.4
Net D/E4.80.30.20.12.70.40.3

Returns

DINDRIEATTXRHBLMNCAKEMedian
NameDine Bra.Darden R.Brinker .Texas Ro.Bloomin .Cheeseca. 
1M Rtn-16.8%-5.7%-15.7%-17.1%-23.9%-8.8%-16.3%
3M Rtn-17.2%-1.2%19.3%-5.4%0.1%25.4%-0.5%
6M Rtn-0.5%4.7%37.2%-1.1%38.7%70.2%20.9%
12M Rtn20.0%12.0%41.7%6.6%18.5%78.3%19.3%
3Y Rtn-38.8%54.1%518.0%75.7%-64.8%249.6%64.9%
1M Excs Rtn-16.1%-4.9%-15.0%-16.4%-23.2%-8.1%-15.5%
3M Excs Rtn-19.2%-3.2%17.3%-7.4%-1.9%23.4%-2.5%
6M Excs Rtn-19.0%-11.8%20.1%-17.4%18.0%54.2%3.1%
12M Excs Rtn4.1%-12.5%20.3%-12.2%4.5%64.7%4.3%
3Y Excs Rtn-108.4%-16.2%449.9%3.6%-136.9%174.6%-6.3%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Franchise666686706662632
Rental109117123116114
Company-Owned Restaurants10592127146
Financing   44
Total879812831909896


Operating Income by Segment
$ Mil20252024202320222001
Franchise214221232221 
Rental25313431 
Gain on disposition of assets-0-3 -2 
Stock based compensation (unallocated)-10-10-10-10 
Amortization of intangible assets-12-11-11-11 
Company-Owned Restaurants-162-05 
Depreciation and amortization (unallocated)-18-17-13-12 
Other G&A expenses (unallocated)-40-44-46-49 
Loss on disposition of assets  1  
Financing   3 
Company Operations    -4
Franchise Operations    92
Other    23
Sales of Franchises    16
Total144168188176126


Assets by Segment
$ Mil20232022202120202019
Franchise1,0901,1239919981,116
Rental375391427452504
Corporate248333425455223
Financing2532405072
Company-Owned Restaurants13117121134
Total1,7401,8821,9992,0752,050


Price Behavior

Price Behavior
Market Price$27.91 
Market Cap ($ Bil)0.3 
First Trading Date07/12/1991 
Distance from 52W High-26.7% 
   50 Days200 Days
DMA Price$33.55$31.74
DMA Trendupindeterminate
Distance from DMA-16.8%-12.1%
 3M1YR
Volatility41.6%46.0%
Downside Capture79.9950.78
Upside Capture-28.7663.03
Correlation (SPY)-3.3%16.9%
DIN Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta-1.41-0.33-0.540.290.580.93
Up Beta-1.14-1.45-0.690.160.261.16
Down Beta-0.160.06-0.490.581.060.99
Up Capture-184%-29%-31%24%59%27%
Bmk +ve Days10213268138427
Stock +ve Days11213569132364
Down Capture-129%43%-80%19%41%97%
Bmk -ve Days11213259113324
Stock -ve Days10212958117381

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DIN
DIN20.1%46.0%0.53-
Sector ETF (XLY)-7.6%19.5%-0.5331.0%
Equity (SPY)16.9%12.9%0.9416.8%
Gold (GLD)19.1%29.3%0.602.0%
Commodities (DBC)46.9%20.6%1.76-14.3%
Real Estate (VNQ)4.9%13.6%0.1022.6%
Bitcoin (BTCUSD)-34.5%43.9%-0.8415.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DIN
DIN-15.2%44.3%-0.24-
Sector ETF (XLY)4.8%24.1%0.1645.7%
Equity (SPY)12.9%17.2%0.5739.9%
Gold (GLD)19.1%18.8%0.832.5%
Commodities (DBC)11.3%19.5%0.451.2%
Real Estate (VNQ)1.1%18.8%-0.0536.8%
Bitcoin (BTCUSD)11.2%52.5%0.3920.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DIN
DIN-6.0%55.1%0.12-
Sector ETF (XLY)11.8%22.2%0.4949.7%
Equity (SPY)15.1%18.0%0.7248.5%
Gold (GLD)12.1%16.4%0.613.1%
Commodities (DBC)8.3%18.1%0.3715.4%
Real Estate (VNQ)4.4%20.7%0.1849.9%
Bitcoin (BTCUSD)61.7%66.1%1.0214.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity1.5 Mil
Short Interest: % Change Since 8152026-9.3%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest7.7 days
Basic Shares Quantity12.0 Mil
Short % of Basic Shares12.9%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20262.6%2.8%-5.8%
5/6/2026-3.5%5.3%3.3%
2/25/20260.2%0.9%-13.0%
11/5/20253.5%3.5%35.7%
8/6/2025-6.4%-3.3%6.8%
5/7/20252.1%23.4%20.2%
3/5/20253.4%9.8%3.6%
11/6/202415.5%8.2%6.6%
...
SUMMARY STATS   
# Positive111512
# Negative13912
Median Positive2.1%3.5%6.7%
Median Negative-3.3%-3.3%-6.9%
Max Positive15.5%23.4%35.7%
Max Negative-9.9%-15.7%-13.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20262.6%2.8%-5.8%
5/6/2026-3.5%5.3%3.3%
2/25/20260.2%0.9%-13.0%
11/5/20253.5%3.5%35.7%
8/6/2025-6.4%-3.3%6.8%
5/7/20252.1%23.4%20.2%
3/5/20253.4%9.8%3.6%
11/6/202415.5%8.2%6.6%
8/7/2024-4.6%-2.9%-4.4%
5/8/2024-0.0%3.3%-10.4%
2/28/20240.7%7.6%1.1%
11/1/2023-9.9%-11.5%-11.8%
8/3/2023-2.0%-0.9%-6.8%
5/3/20232.1%1.2%-3.7%
3/1/2023-5.8%-6.2%-13.0%
11/2/20220.8%5.1%5.6%
8/9/2022-1.1%3.0%-5.5%
5/4/2022-0.3%-2.4%2.1%
3/2/2022-9.2%-15.7%-0.4%
11/4/20217.5%2.8%-10.0%
8/5/20212.0%1.6%9.4%
5/5/2021-2.9%-2.3%-7.1%
3/2/2021-3.3%7.3%11.2%
10/28/2020-0.9%-8.9%13.8%
SUMMARY STATS   
# Positive111512
# Negative13912
Median Positive2.1%3.5%6.7%
Median Negative-3.3%-3.3%-6.9%
Max Positive15.5%23.4%35.7%
Max Negative-9.9%-15.7%-13.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/25/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202403/05/202510-K
09/30/202411/06/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202302/28/202410-K
09/30/202311/01/202310-Q
06/30/202308/03/202310-Q
03/31/202305/03/202310-Q
12/31/202203/01/202310-K
09/30/202211/02/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/25/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202403/05/202510-K
09/30/202411/06/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202302/28/202410-K
09/30/202311/01/202310-Q
06/30/202308/03/202310-Q
03/31/202305/03/202310-Q
12/31/202203/01/202310-K
09/30/202211/02/202210-Q
06/30/202208/09/202210-Q
03/31/202205/04/202210-Q
12/31/202103/02/202210-K
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202105/05/202110-Q
12/31/202003/02/202110-K
09/30/202010/28/202010-Q
06/30/202007/29/202010-Q
03/31/202004/29/202010-Q
12/31/201902/24/202010-K
09/30/201910/30/201910-Q

Insider Activity

Updated 7/14/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hyter, Michael DirectSell511202628.881,80051,975268,957Form
2Pasquale, Douglas M TrustBuy316202627.751,00027,750901,013Form
3Pasquale, Douglas M TrustBuy312202628.252,00056,500888,997Form
4Pasquale, Douglas M TrustBuy312202629.001,00029,000854,599Form
5Pasquale, Douglas M TrustBuy309202630.0050015,000705,669Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hyter, Michael DirectSell511202628.881,80051,975268,957Form
2Pasquale, Douglas M TrustBuy316202627.751,00027,750901,013Form
3Pasquale, Douglas M TrustBuy312202628.252,00056,500888,997Form
4Pasquale, Douglas M TrustBuy312202629.001,00029,000854,599Form
5Pasquale, Douglas M TrustBuy309202630.0050015,000705,669Form
6Pasquale, Douglas M TrustBuy304202629.501,50044,250679,158Form
7Pasquale, Douglas M TrustBuy304202630.041,50045,060646,527Form
8Poulter, Martha DirectBuy1208202533.1665021,553234,567Form
9Dahl, Richard J DirectBuy1124202527.473,60098,88798,887Form
10Berk, Howard M DirectBuy1107202524.504,082100,0091,027,699Form
11Chang, Vance YuwenChief Financial OfficerDirectBuy821202521.102,34049,3741,142,143Form
12Peyton, John WChief Executive OfficerDirectBuy821202522.114,52399,9904,190,674Form

Investor Activity (13F)

Updated Sep 19, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Divisar Capital Management LLC$6.4 Mil1.6%26New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Divisar Capital Management LLC$6.4 Mil1.6%26New13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Divisar Capital Management LLC$6.4 Mil1.6%26New13F
Core Cache Last Updated: 9/18/2026