Jack In The Box (JACK)
Market Price (6/26/2026): $12.82 | Market Cap: $246.8 MilSector: Consumer Discretionary | Industry: Restaurants
Jack In The Box (JACK)
Market Price (6/26/2026): $12.82Market Cap: $246.8 MilSector: Consumer DiscretionaryIndustry: Restaurants
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Vegan & Alternative Foods. Themes include Last-Mile Delivery, Online Marketplaces, Show more. | Weak multi-year price returns2Y Excs Rtn is -109%, 3Y Excs Rtn is -153% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.59 | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1040% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.1%, Rev Chg QQuarterly Revenue Change % is -27% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -47% Significant short interestShort 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 35% Key risksJACK key risks include [1] significant same-store sales declines for both its Jack in the Box and Del Taco brands, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Vegan & Alternative Foods. Themes include Last-Mile Delivery, Online Marketplaces, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -109%, 3Y Excs Rtn is -153% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.59 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1040% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.1%, Rev Chg QQuarterly Revenue Change % is -27% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -47% |
| Significant short interestShort 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 35% |
| Key risksJACK key risks include [1] significant same-store sales declines for both its Jack in the Box and Del Taco brands, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Jack In The Box (JACK) stock has lost about 25% since 2/28/2026 because of the following key factors:
1. Jack in the Box reported disappointing fiscal Q2 2026 financial results and issued a weak outlook.
The company's fiscal Q2 2026, which ended April 12, 2026, saw same-store sales decrease by 3.8%. Total revenues fell 4.3% year-over-year to $254.3 million, missing analysts' expectations of $256.55 million. Furthermore, restaurant-level margin compressed to 16.4% from 19.6% in the prior year quarter, largely due to commodity cost inflation, particularly a 5% inflation in beef costs during Q2. The company also updated its fiscal year 2026 guidance, forecasting a low single-digit same-store sales decline.
2. A leadership transition and an accelerated restructuring plan created investor uncertainty.
Jack in the Box appointed Mark King as Interim Chief Executive Officer on May 13, 2026, succeeding Lance Tucker, who resigned from the Board of Directors on May 27, 2026. This change occurred as the company works to accelerate its "JACK on Track" program, which includes plans to close approximately 50 to 100 restaurants in fiscal year 2026, with an emphasis on franchise locations and an acceleration of these closures in the latter half of the fiscal year. Such significant leadership changes and restructuring initiatives typically introduce short-term uncertainty and execution risks for investors.
Show more
Jack In The Box (JACK) stock has lost about 25% since 2/28/2026 because of the following key factors:
1. Jack in the Box reported disappointing fiscal Q2 2026 financial results and issued a weak outlook.
The company's fiscal Q2 2026, which ended April 12, 2026, saw same-store sales decrease by 3.8%. Total revenues fell 4.3% year-over-year to $254.3 million, missing analysts' expectations of $256.55 million. Furthermore, restaurant-level margin compressed to 16.4% from 19.6% in the prior year quarter, largely due to commodity cost inflation, particularly a 5% inflation in beef costs during Q2. The company also updated its fiscal year 2026 guidance, forecasting a low single-digit same-store sales decline.
2. A leadership transition and an accelerated restructuring plan created investor uncertainty.
Jack in the Box appointed Mark King as Interim Chief Executive Officer on May 13, 2026, succeeding Lance Tucker, who resigned from the Board of Directors on May 27, 2026. This change occurred as the company works to accelerate its "JACK on Track" program, which includes plans to close approximately 50 to 100 restaurants in fiscal year 2026, with an emphasis on franchise locations and an acceleration of these closures in the latter half of the fiscal year. Such significant leadership changes and restructuring initiatives typically introduce short-term uncertainty and execution risks for investors.
3. Analysts downgraded ratings and significantly lowered price targets for the stock.
Following the fiscal Q2 2026 earnings report, several prominent analyst firms adjusted their outlook for Jack in the Box. Goldman Sachs lowered its price target from $17 to $12 on May 15, 2026. Similarly, UBS reduced its target from $23 to $14 on May 14, 2026, and Citigroup decreased its target from $15 to $14 on the same day. Guggenheim also downgraded its rating on May 29, 2026. The consensus rating among analysts is "Hold," with an average price target around $15.84 to $16.04, reflecting a cautious sentiment.
4. Company insiders demonstrated a net selling position exceeding $5 million during the period.
Since February 28, 2026, Jack in the Box insiders executed a net selling position of $6.2 million, comprising 121 sells totaling $6.3 million against 5 buys totaling $182.5K across 126 Form 4 filings as of June 18, 2026. This significant insider selling, exceeding the $5 million threshold, signals a lack of strong confidence from those closest to the company's operations and future prospects.
Show less
Stock Movement Drivers
Fundamental Drivers
The -24.2% change in JACK stock from 2/28/2026 to 6/25/2026 was primarily driven by a -17.3% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.92 | 12.82 | -24.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,274 | 1,179 | -7.5% |
| P/S Multiple | 0.3 | 0.2 | -17.3% |
| Shares Outstanding (Mil) | 19 | 19 | -1.0% |
| Cumulative Contribution | -24.2% |
Market Drivers
2/28/2026 to 6/25/2026| Return | Correlation | |
|---|---|---|
| JACK | -24.2% | |
| Market (SPY) | 7.3% | 28.7% |
| Sector (XLY) | -2.8% | 34.1% |
Fundamental Drivers
The -35.0% change in JACK stock from 11/30/2025 to 6/25/2026 was primarily driven by a -29.0% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.71 | 12.82 | -35.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,274 | 1,179 | -7.5% |
| P/S Multiple | 0.3 | 0.2 | -29.0% |
| Shares Outstanding (Mil) | 19 | 19 | -1.0% |
| Cumulative Contribution | -35.0% |
Market Drivers
11/30/2025 to 6/25/2026| Return | Correlation | |
|---|---|---|
| JACK | -35.0% | |
| Market (SPY) | 8.1% | 26.3% |
| Sector (XLY) | -3.7% | 34.5% |
Fundamental Drivers
The -32.4% change in JACK stock from 5/31/2025 to 6/25/2026 was primarily driven by a -21.8% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.96 | 12.82 | -32.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,350 | 1,179 | -12.6% |
| P/S Multiple | 0.3 | 0.2 | -21.8% |
| Shares Outstanding (Mil) | 19 | 19 | -1.1% |
| Cumulative Contribution | -32.4% |
Market Drivers
5/31/2025 to 6/25/2026| Return | Correlation | |
|---|---|---|
| JACK | -32.4% | |
| Market (SPY) | 26.0% | 23.9% |
| Sector (XLY) | 6.9% | 36.3% |
Fundamental Drivers
The -84.3% change in JACK stock from 5/31/2023 to 6/25/2026 was primarily driven by a -78.7% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 81.79 | 12.82 | -84.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,724 | 1,179 | -31.6% |
| P/S Multiple | 1.0 | 0.2 | -78.7% |
| Shares Outstanding (Mil) | 21 | 19 | 7.7% |
| Cumulative Contribution | -84.3% |
Market Drivers
5/31/2023 to 6/25/2026| Return | Correlation | |
|---|---|---|
| JACK | -84.3% | |
| Market (SPY) | 82.6% | 28.2% |
| Sector (XLY) | 53.2% | 33.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| JACK Return | -4% | -20% | 22% | -47% | -54% | -30% | -84% |
| Peers Return | 20% | -4% | 20% | 2% | -11% | -3% | 22% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| JACK Win Rate | 50% | 42% | 67% | 17% | 25% | 50% | |
| Peers Win Rate | 55% | 43% | 53% | 47% | 45% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| JACK Max Drawdown | -35% | -41% | -39% | -53% | -66% | -60% | |
| Peers Max Drawdown | -17% | -26% | -18% | -19% | -28% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MCD, YUM, QSR, WEN, CMG. See JACK 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 6/25/2026 (YTD)
How Low Can It Go
| Event | JACK | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.3% | -24.5% |
| % Gain to Breakeven | 54.6% | 32.4% |
| Time to Breakeven | 43 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.9% | -33.7% |
| % Gain to Breakeven | 374.7% | 50.9% |
| Time to Breakeven | 218 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -10.1% | -19.2% |
| % Gain to Breakeven | 11.3% | 23.8% |
| Time to Breakeven | 27 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -26.2% | -12.2% |
| % Gain to Breakeven | 35.4% | 13.9% |
| Time to Breakeven | 101 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -21.3% | -17.9% |
| % Gain to Breakeven | 27.0% | 21.8% |
| Time to Breakeven | 183 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -24.6% | -15.4% |
| % Gain to Breakeven | 32.6% | 18.2% |
| Time to Breakeven | 687 days | 125 days |
In The Past
Jack In The Box's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% 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.
| Event | JACK | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.3% | -24.5% |
| % Gain to Breakeven | 54.6% | 32.4% |
| Time to Breakeven | 43 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.9% | -33.7% |
| % Gain to Breakeven | 374.7% | 50.9% |
| Time to Breakeven | 218 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -26.2% | -12.2% |
| % Gain to Breakeven | 35.4% | 13.9% |
| Time to Breakeven | 101 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -21.3% | -17.9% |
| % Gain to Breakeven | 27.0% | 21.8% |
| Time to Breakeven | 183 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -24.6% | -15.4% |
| % Gain to Breakeven | 32.6% | 18.2% |
| Time to Breakeven | 687 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -53.1% | -53.4% |
| % Gain to Breakeven | 113.3% | 114.4% |
| Time to Breakeven | 187 days | 1085 days |
In The Past
Jack In The Box's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% 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 Jack In The Box (JACK)
Jack in the Box Inc. is a prominent operator and franchisor in the quick-service restaurant industry, primarily known for its namesake "Jack in the Box" brand. Established in 1951 and headquartered in San Diego, California, the company focuses on delivering convenient, fast-food experiences to its customers.
The company's core business revolves around its extensive network of approximately 2,200 quick-service restaurants, as of late 2021. These locations are strategically spread across 21 states, predominantly in the Western and Southern United States, as well as Guam, establishing a significant regional presence.
Jack in the Box restaurants offer a diverse menu of quick-service meals, including a wide array of burgers, chicken sandwiches, tacos, breakfast items, sides, and desserts. The primary customers are individuals seeking convenient, affordable, and varied meal options throughout the day, served in a fast-paced environment.
```AI Analysis | Feedback
Here are 1-3 brief analogies for Jack in the Box:
- A regional McDonald's or Burger King.
- Like Wendy's, but with a stronger presence in the Western and Southern U.S.
AI Analysis | Feedback
- Burgers: A variety of beef patties served on buns with various toppings.
- Chicken Products: Includes fried chicken sandwiches, strips, and nuggets.
- Tacos: A signature menu item, typically crispy tacos filled with seasoned beef.
- Breakfast Menu Items: A selection of breakfast sandwiches, burritos, and other morning meals.
- Fries & Sides: Common fast-food accompaniments such as french fries, onion rings, and egg rolls.
- Shakes & Desserts: A range of milkshakes, cookies, and other sweet treats.
- Beverages: A selection of soft drinks, coffee, and bottled water.
AI Analysis | Feedback
Jack In The Box (symbol: JACK) primarily sells its products and services to individual consumers.
The company serves the following categories of customers:
- General Public/Everyday Consumers: Individuals of various ages and demographics seeking convenient, quick, and affordable meal options throughout the day.
- On-the-Go Consumers/Commuters: Customers looking for fast service and convenient locations, often during commutes, work breaks, or late hours, prioritizing speed and accessibility.
- Families: Groups or families seeking an accessible and diverse menu for multiple individuals, often looking for a convenient meal solution.
AI Analysis | Feedback
AI Analysis | Feedback
Lance Tucker, Chief Executive Officer
Lance Tucker was named Chief Executive Officer at Jack in the Box in March 2025, after joining the company in January 2025 as Chief Financial Officer. He previously served as CFO for Jack in the Box from 2018 to 2020. Before his return to Jack in the Box, Tucker was CFO at Davidson Hospitality Group and CKE Restaurants. He also served for over a decade as CFO and Chief Administrative Officer of Papa John's International from 2009 to 2018. He began his career as a senior accountant for Ernst & Young, LLC.
Dawn Hooper, Chief Financial Officer
Dawn Hooper was named Chief Financial Officer at Jack in the Box in May 2025. She has been with Jack in the Box since October 2000, holding various roles including Senior Vice President, Controller since December 2022, and multiple stints as Interim CFO. Hooper began her career with KPMG LLP.
Ryan Ostrom, Executive Vice President, Chief Customer and Digital Officer
Ryan Ostrom joined Jack in the Box as Executive Vice President and Chief Marketing Officer in February 2021. He was promoted to Chief Customer and Digital Officer, assuming responsibility for all Jack in the Box operations in addition to marketing, effective December 6, 2024. Prior to Jack in the Box, Ostrom served as Chief Brand Officer for General Nutrition Centers (GNC) and as Global Chief Digital Officer for KFC (Yum! Brands). He also held the role of Chief Marketing Officer for Sears' Kenmore, Craftsman, and DieHard brands.
Sarah Super, Executive Vice President, Chief Legal & Administrative Officer
Sarah Super has served as Executive Vice President, Chief Legal & Administrative Officer since February 2025. From March 2020 to February 2025, she was Senior Vice President, Chief Legal & Risk Officer. Super joined Jack in the Box in December 2013, and before that, she was a partner at Gordon & Rees in Los Angeles from February 2008 through November 2013.
Shannon McKinney, Senior Vice President, Chief Operating Officer
Shannon McKinney returned to Jack in the Box as Senior Vice President, Chief Operating Officer in June 2025. He brings over 25 years of restaurant industry experience. McKinney previously served as Vice President of Operations and Brand Performance at Jack in the Box from March 2019 to August 2021. His prior experience includes leadership roles at Popeyes Louisiana Kitchen, Taco Bell, Outback Steakhouse, Crispers, Fresh Alternatives, LLC, and Bloomin' Brands.
AI Analysis | Feedback
The key risks to Jack In The Box (symbol: JACK) primarily revolve around increasing operational costs, shifting consumer behaviors impacting sales, and significant financial leverage.
- Labor Inflation and Regulatory Pressures: Jack In The Box faces substantial risk from rising labor costs, particularly in California, where a significant portion of its restaurants operate. California's AB1228 wage hikes have led to spiked labor costs and threaten further revenue erosion and margin compression. These regulatory changes force the company to implement price increases, which can alienate price-sensitive customers and lead to further traffic loss.
- Declining Same-Store Sales and Evolving Consumer Behavior: The company is experiencing declining same-store sales due to a challenging fast-food sector and changes in consumer spending patterns. Factors such as consumers pulling back on discretionary spending, the impact of health trends like the "Ozempic boom" (leading to reduced dining out and aversion to "unhealthy" fast food), and reduced disposable income among key demographics due to SNAP benefit reductions and immigration enforcement, contribute to decreased traffic and revenue.
- High Debt Levels and Financial Vulnerability: Jack In The Box carries elevated debt, with a high net debt-to-free cash flow ratio, which poses a significant financial risk. This leverage, coupled with declining sales and increasing operating costs, amplifies the potential for covenant breaches, refinancing failures, and liquidity crunches. Poor capital allocation decisions, such as the ill-timed acquisition and subsequent sale of Del Taco at a substantial loss, further highlight the company's financial vulnerability.
AI Analysis | Feedback
The emergence of virtual brands and ghost kitchens presents a clear threat. These new restaurant models operate without traditional brick-and-mortar dining rooms, often leveraging shared kitchen spaces and focusing solely on delivery via third-party platforms. They benefit from significantly lower overhead costs, allowing for greater menu flexibility and potentially more competitive pricing or specialized offerings. This model directly competes with established quick-service restaurants like Jack in the Box for delivery-focused customers, potentially eroding market share without the need for traditional restaurant infrastructure.
AI Analysis | Feedback
The addressable market for Jack in the Box's main products and services, which include a diverse menu of quick-service restaurant offerings such as burgers, chicken, tacos, and breakfast items, is the Quick Service Restaurant (QSR) market in the United States.
The United States quick-service restaurant market was valued at approximately USD 447.20 billion in 2025. This market is estimated to grow to USD 491.65 billion in 2026, with projections indicating further growth to USD 789.65 billion by 2031, expanding at a compound annual growth rate (CAGR) of 9.94% during the forecast period from 2026 to 2031.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for Jack in the Box (symbol: JACK) over the next 2-3 years:
- Restaurant Expansion and Net Unit Growth: Jack in the Box is focused on expanding its physical footprint by opening new restaurants. The company achieved the largest number of new restaurant openings in over a decade in fiscal year 2024. Management is targeting 25 to 35 new restaurant openings in 2024 and expects 35 to 45 gross restaurant openings for the Jack in the Box segment in fiscal year 2025. The company also has a growing development pipeline, with signed agreements for 464 new restaurants as of Q4 2024.
- Digital Sales Growth and Technology Modernization: Jack in the Box is heavily investing in digital transformation to drive sales. First-party digital platforms experienced over 80% growth during the second quarter of 2024. The company's strategy includes launching a next-generation mobile app and implementing a new point-of-sale (POS) system across its restaurants to enhance guest connections, improve data insights for personalized marketing, and ultimately achieve a target of 20% digital sales.
- Menu Innovation and Strategic Marketing: The company plans to drive sales through a robust marketing strategy that includes new product launches and celebrity partnerships. Initiatives like making French Toast Sticks a permanent menu item and various late-night menu promotions are aimed at increasing transactions. Jack in the Box also employs a "barbell promotional approach" to cater to both value-conscious and premium guests, featuring offerings like "munchies under $4" and $5 options alongside innovative new products.
- Strategic Pricing and Value Offerings: Jack in the Box intends to implement targeted price increases to bolster revenue. For fiscal year 2025, a pricing strategy of 3-4% for Jack in the Box is planned. These price adjustments, combined with a focus on competitive value offerings, are designed to address consumer needs across various price points and contribute to overall sales performance.
AI Analysis | Feedback
Share Repurchases
- In fiscal year 2025, Jack in the Box is planning share repurchases valued at approximately $5 million to $15 million, a reduction from an initial allocation of $20 million.
- The company repurchased 124,000 shares for $5 million in the first quarter of fiscal year 2025.
- Annual share buybacks amounted to $70 million in fiscal year 2024 and $90.029 million in fiscal year 2023.
Share Issuance
- The number of shares outstanding has generally decreased over the past few years, indicating share repurchases rather than significant issuances. Shares outstanding were 21.2 million in 2021, 20.92 million in 2022, 20.48 million in 2023, and 19.34 million in 2024.
Outbound Investments
- Jack in the Box acquired Del Taco Restaurants, Inc. for cash on March 8, 2022.
- The company pursued a refranchising strategy, particularly for Del Taco restaurants, refranchising 111 locations in fiscal year 2023 and 47 in fiscal year 2024, aiming for an asset-light model and incremental development agreements.
Capital Expenditures
- For fiscal year 2025, the capital expenditure target is between $100 million and $105 million.
- The company plans to significantly reduce spending on company-owned new restaurant development beginning in 2026, while continuing with planned improvements of its existing restaurant base via reimages.
- Capital expenditures for the second quarter of fiscal year 2026 were $23.2 million, following $88.2 million for fiscal year 2024.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 52.76 |
| Mkt Cap | 33.6 |
| Rev LTM | 9,038 |
| Op Inc LTM | 2,249 |
| FCF LTM | 1,564 |
| FCF 3Y Avg | 1,439 |
| CFO LTM | 2,022 |
| CFO 3Y Avg | 1,790 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.2% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 7.4% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | 1.3% |
| Op Inc Chg 3Y Avg | 5.8% |
| Op Mgn LTM | 21.3% |
| Op Mgn 3Y Avg | 22.2% |
| QoQ Delta Op Mgn LTM | -0.4% |
| CFO/Rev LTM | 19.0% |
| CFO/Rev 3Y Avg | 18.3% |
| FCF/Rev LTM | 16.3% |
| FCF/Rev 3Y Avg | 15.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 33.6 |
| P/S | 3.1 |
| P/Op Inc | 12.4 |
| P/EBIT | 12.7 |
| P/E | 22.9 |
| P/CFO | 17.8 |
| Total Yield | 6.7% |
| Dividend Yield | 2.3% |
| FCF Yield 3Y Avg | 3.5% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Jack in the Box | 1,154 | 1,197 | 1,195 | 1,151 |
| Del Taco | 311 | 374 | 497 | 317 |
| Total | 1,465 | 1,571 | 1,692 | 1,468 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Jack in the Box | 330 | 362 | 381 | 311 |
| Del Taco | 24 | 29 | 46 | 28 |
| (Gain)/ loss on COLI | 7 | 14 | 6 | -10 |
| Losses (gains) on the sale of company-operated restaurants | 3 | 3 | 18 | 4 |
| Other operating expense (income), net | -22 | |||
| Depreciation and amortization | -58 | -60 | -62 | -56 |
| General and administrative and other unallocated | -91 | |||
| Impairment of goodwill and intangible assets | -210 | |||
| Acquisition, integration and strategic initiatives | -16 | -9 | -20 | |
| Amortization of favorable and unfavorable leases and subleases, net | -1 | -2 | -1 | |
| Gains on acquisition of restaurants | 3 | 0 | ||
| Goodwill impairment | -163 | 0 | ||
| Share-based compensation | -13 | -11 | -7 | |
| Shared services and unallocated costs | -77 | -88 | ||
| Total | -18 | 83 | 279 | 248 |
| $ Mil | 2007 | 2006 | 2005 |
|---|---|---|---|
| Jack in the Box | 1,341 | 1,491 | 1,319 |
| Qdoba | 87 | 74 | 68 |
| Total | 1,428 | 1,565 | 1,387 |
Price Behavior
| Market Price | $12.82 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 03/05/1992 | |
| Distance from 52W High | -48.5% | |
| 50 Days | 200 Days | |
| DMA Price | $12.38 | $16.30 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 3.6% | -21.3% |
| 3M | 1YR | |
| Volatility | 83.7% | 74.1% |
| Downside Capture | 166.25 | 193.24 |
| Upside Capture | 153.96 | 112.74 |
| Correlation (SPY) | 23.6% | 23.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.41 | 1.29 | 1.90 | 1.72 | 1.56 | 1.04 |
| Up Beta | 0.42 | 0.75 | 1.32 | 1.38 | 0.86 | 0.94 |
| Down Beta | 2.31 | -0.66 | 2.17 | 2.07 | 1.82 | 1.06 |
| Up Capture | -161% | 194% | 97% | 94% | 124% | 26% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 22 | 26 | 61 | 121 | 348 |
| Down Capture | -507% | 212% | 278% | 211% | 170% | 110% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 19 | 37 | 63 | 127 | 398 |
[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 JACK | |
|---|---|---|---|---|
| JACK | -25.2% | 74.0% | -0.08 | - |
| Sector ETF (XLY) | 5.8% | 18.6% | 0.17 | 35.1% |
| Equity (SPY) | 22.1% | 12.4% | 1.33 | 22.7% |
| Gold (GLD) | 20.8% | 27.7% | 0.67 | 0.7% |
| Commodities (DBC) | 23.3% | 18.5% | 0.99 | -15.7% |
| Real Estate (VNQ) | 11.6% | 13.8% | 0.55 | 25.5% |
| Bitcoin (BTCUSD) | -42.9% | 42.5% | -1.20 | 5.7% |
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 JACK | |
|---|---|---|---|---|
| JACK | -34.2% | 49.2% | -0.68 | - |
| Sector ETF (XLY) | 6.4% | 23.9% | 0.23 | 35.4% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 32.2% |
| Gold (GLD) | 17.4% | 18.3% | 0.77 | 3.5% |
| Commodities (DBC) | 7.9% | 19.5% | 0.30 | 1.9% |
| Real Estate (VNQ) | 2.8% | 18.9% | 0.05 | 29.4% |
| Bitcoin (BTCUSD) | 9.8% | 54.1% | 0.38 | 14.9% |
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 JACK | |
|---|---|---|---|---|
| JACK | -15.2% | 47.1% | -0.17 | - |
| Sector ETF (XLY) | 12.4% | 22.1% | 0.51 | 42.0% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 39.0% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 3.9% |
| Commodities (DBC) | 5.9% | 18.0% | 0.25 | 11.8% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 37.3% |
| Bitcoin (BTCUSD) | 56.4% | 66.5% | 0.97 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -14.2% | -12.7% | 4.5% |
| 2/18/2026 | -18.1% | -23.4% | -49.2% |
| 11/19/2025 | 7.8% | 35.3% | 35.3% |
| 8/6/2025 | -1.6% | -1.4% | 7.9% |
| 5/14/2025 | -6.3% | -22.3% | -28.7% |
| 2/25/2025 | 11.8% | 6.5% | -15.3% |
| 11/20/2024 | 4.8% | 2.8% | -9.9% |
| 8/6/2024 | -3.1% | 5.3% | -12.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 13 |
| # Negative | 14 | 14 | 11 |
| Median Positive | 4.8% | 5.3% | 6.2% |
| Median Negative | -3.0% | -5.1% | -15.3% |
| Max Positive | 11.8% | 35.3% | 35.3% |
| Max Negative | -18.1% | -23.4% | -49.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -14.2% | -12.7% | 4.5% |
| 2/18/2026 | -18.1% | -23.4% | -49.2% |
| 11/19/2025 | 7.8% | 35.3% | 35.3% |
| 8/6/2025 | -1.6% | -1.4% | 7.9% |
| 5/14/2025 | -6.3% | -22.3% | -28.7% |
| 2/25/2025 | 11.8% | 6.5% | -15.3% |
| 11/20/2024 | 4.8% | 2.8% | -9.9% |
| 8/6/2024 | -3.1% | 5.3% | -12.1% |
| 5/14/2024 | 0.0% | 2.0% | 6.2% |
| 2/21/2024 | -4.9% | -2.1% | -6.8% |
| 11/21/2023 | 1.8% | 2.0% | 20.1% |
| 8/9/2023 | -6.8% | -13.9% | -15.9% |
| 5/17/2023 | 0.3% | -3.5% | -3.1% |
| 3/1/2023 | 8.6% | 10.5% | 8.0% |
| 11/22/2022 | -16.1% | -14.6% | -20.1% |
| 8/10/2022 | 7.4% | 22.8% | 5.8% |
| 5/26/2022 | -2.9% | -5.0% | -15.7% |
| 2/23/2022 | -2.2% | -5.3% | 0.5% |
| 11/23/2021 | -2.9% | -13.8% | -11.2% |
| 8/4/2021 | -2.7% | -2.4% | 1.9% |
| 5/12/2021 | -2.5% | -1.4% | 2.2% |
| 2/17/2021 | 0.4% | 1.5% | 16.0% |
| 11/18/2020 | 4.8% | 5.3% | 6.6% |
| 8/6/2020 | -0.6% | -3.7% | 1.5% |
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 13 |
| # Negative | 14 | 14 | 11 |
| Median Positive | 4.8% | 5.3% | 6.2% |
| Median Negative | -3.0% | -5.1% | -15.3% |
| Max Positive | 11.8% | 35.3% | 35.3% |
| Max Negative | -18.1% | -23.4% | -49.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 01/31/2026 | 02/18/2026 | 10-Q |
| 09/30/2025 | 11/19/2025 | 10-K |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 01/31/2025 | 02/25/2025 | 10-Q |
| 09/30/2024 | 11/21/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 01/31/2024 | 02/21/2024 | 10-Q |
| 09/30/2023 | 11/21/2023 | 10-K |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/17/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-Q |
| 09/30/2022 | 11/22/2022 | 10-K |
| 06/30/2022 | 08/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 01/31/2026 | 02/18/2026 | 10-Q |
| 09/30/2025 | 11/19/2025 | 10-K |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 01/31/2025 | 02/25/2025 | 10-Q |
| 09/30/2024 | 11/21/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 01/31/2024 | 02/21/2024 | 10-Q |
| 09/30/2023 | 11/21/2023 | 10-K |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/17/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-Q |
| 09/30/2022 | 11/22/2022 | 10-K |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/27/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-Q |
| 09/30/2021 | 11/23/2021 | 10-K |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/12/2021 | 10-Q |
| 12/31/2020 | 02/17/2021 | 10-Q |
| 09/30/2020 | 11/18/2020 | 10-K |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/14/2020 | 10-Q |
| 12/31/2019 | 02/20/2020 | 10-Q |
| 09/30/2019 | 11/21/2019 | 10-K |
| 06/30/2019 | 08/08/2019 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q2 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Same-Store Sales Growth | -2.0% | Lowered | Guidance: 0.0% for 2026 | ||||
| 2026 Company-Owned Restaurant Level Margin | 17.0% | -2.9% | -0.5% | Lowered | Guidance: 17.5% for 2026 | ||
| 2026 Franchise Level Margin | 2.65E10% | 2.7E10% | 2.75E10% | -4.4% | Lowered | Guidance: 2.825E10% for 2026 | |
| 2026 SG&A | 115.00 Mil | 120.00 Mil | 125.00 Mil | -7.7% | Lowered | Guidance: 130.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 225.00 Mil | 230.00 Mil | 235.00 Mil | -1.1% | Lowered | Guidance: 232.50 Mil for 2026 | |
| 2026 Restaurant Count | 2,050 | 2,075 | 2,100 | 0 | Affirmed | Guidance: 2,075 for 2026 | |
| 2026 Depreciation and Amortization | 45.00 Mil | 47.50 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 47.50 Mil for 2026 | |
| 2026 Capital Expenditures | 45.00 Mil | 50.00 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 2/18/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Jack in the Box Restaurant Count | 2,050 | 2,075 | 2,100 | 0 | Affirmed | Guidance: 2,075 for 2026 | |
| 2026 Same Store Sales | -0.01 | 0 | 0.01 | 0 | 0 | Affirmed | Guidance: 0 for 2026 |
| 2026 Company-Owned Restaurant Level Margin | 17.0% | 17.5% | 18.0% | 0 | 0 | Affirmed | Guidance: 17.5% for 2026 |
| 2026 Franchise Level Margin | 2.75E10% | 2.825E10% | 2.9E10% | 0 | Affirmed | Guidance: 2.825E10% for 2026 | |
| 2026 SG&A | 125.00 Mil | 130.00 Mil | 135.00 Mil | 0 | Affirmed | Guidance: 130.00 Mil for 2026 | |
| 2026 Depreciation and Amortization | 45.00 Mil | 47.50 Mil | 50.00 Mil | 0 | Affirmed | Guidance: 47.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | 225.00 Mil | 232.50 Mil | 240.00 Mil | 0 | Affirmed | Guidance: 232.50 Mil for 2026 | |
| 2026 Capital Expenditures | 45.00 Mil | 50.00 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |
Insider Activity
Updated 6/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | King, Mark James | Exec Chairman & Interim CEO | Direct | Sell | 6182026 | 12.53 | 5,911 | 74,065 | 2,420,520 | Form |
| 2 | Diaz, Guillermo JR | Direct | Buy | 5282026 | 11.51 | 5,962 | 68,623 | 238,165 | Form | |
| 3 | Diaz, Guillermo JR | Direct | Buy | 5282026 | 0.00 | 5,962 | Form | |||
| 4 | Hooper, Dawn E | EVP, Chief Financial Officer | Direct | Sell | 5042026 | 12.10 | 738 | 8,929 | 432,671 | Form |
| 5 | Super, Sarah L | EVP, Chief Legal&Admin Officer | Direct | Sell | 5042026 | 12.10 | 1,841 | 22,276 | 626,787 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | King, Mark James | Exec Chairman & Interim CEO | Direct | Sell | 6182026 | 12.53 | 5,911 | 74,065 | 2,420,520 | Form |
| 2 | Diaz, Guillermo JR | Direct | Buy | 5282026 | 11.51 | 5,962 | 68,623 | 238,165 | Form | |
| 3 | Diaz, Guillermo JR | Direct | Buy | 5282026 | 0.00 | 5,962 | Form | |||
| 4 | Hooper, Dawn E | EVP, Chief Financial Officer | Direct | Sell | 5042026 | 12.10 | 738 | 8,929 | 432,671 | Form |
| 5 | Super, Sarah L | EVP, Chief Legal&Admin Officer | Direct | Sell | 5042026 | 12.10 | 1,841 | 22,276 | 626,787 | Form |
| 6 | Piano, Steven | SVP, CHIEF PEOPLE OFFICER | Direct | Sell | 5042026 | 12.10 | 922 | 11,155 | 485,722 | Form |
| 7 | Cook, Richard D | SVP, CHIEF TECHNOLOGY OFFICER | Direct | Sell | 5042026 | 12.10 | 1,025 | 12,402 | 485,569 | Form |
| 8 | Mount, Carl | SVP, CHF SUPPLY CHAIN OFFICER | Direct | Sell | 5042026 | 12.10 | 1,142 | 13,817 | 492,796 | Form |
| 9 | Tucker, Lance F | DIRECTOR & CEO | Direct | Sell | 1282026 | 21.83 | 3,150 | 68,764 | 4,454,804 | Form |
| 10 | Super, Sarah L | EVP, Chief Legal&Admin Officer | Direct | Sell | 12302025 | 19.46 | 434 | 8,446 | 1,043,873 | Form |
| 11 | Piano, Steven | SVP, CHIEF PEOPLE OFFICER | Direct | Sell | 12302025 | 19.46 | 254 | 4,943 | 799,164 | Form |
| 12 | Ostrom, Ryan Lee | EVP, Chief Cust&Digtl Officer | Direct | Sell | 12302025 | 19.46 | 581 | 11,306 | 1,546,584 | Form |
| 13 | Cook, Richard D | SVP, CHIEF TECHNOLOGY OFFICER | Direct | Sell | 12302025 | 19.46 | 292 | 5,682 | 800,876 | Form |
| 14 | Super, Sarah L | EVP, Chief Legal&Admin Officer | Direct | Sell | 12172025 | 20.27 | 211 | 4,277 | 1,096,121 | Form |
| 15 | Piano, Steven | SVP, CHIEF PEOPLE OFFICER | Direct | Sell | 12172025 | 20.27 | 163 | 3,304 | 837,577 | Form |
| 16 | Ostrom, Ryan Lee | EVP, Chief Cust&Digtl Officer | Direct | Sell | 12172025 | 20.27 | 315 | 6,385 | 1,622,735 | Form |
| 17 | Cook, Richard D | SVP, CHIEF TECHNOLOGY OFFICER | Direct | Sell | 12172025 | 20.27 | 177 | 3,588 | 840,131 | Form |
| 18 | Ingram, Van | SVP, CHF DEVELOPMENT OFFICER | Direct | Sell | 12102025 | 19.06 | 127 | 2,421 | 93,870 | Form |
| 19 | Hooper, Dawn E | EVP, Chief Financial Officer | Direct | Sell | 12102025 | 19.06 | 236 | 4,498 | 283,060 | Form |
| 20 | Super, Sarah L | EVP, Chief Legal&Admin Officer | Direct | Sell | 12032025 | 19.08 | 2,114 | 40,341 | 622,860 | Form |
| 21 | Piano, Steven | SVP, CHIEF PEOPLE OFFICER | Direct | Sell | 12032025 | 19.08 | 1,491 | 28,453 | 516,249 | Form |
| 22 | Ostrom, Ryan Lee | EVP, Chief Cust&Digtl Officer | Direct | Sell | 12032025 | 19.08 | 3,726 | 71,095 | 982,832 | Form |
| 23 | Mount, Carl | SVP, CHF SUPPLY CHAIN OFFICER | Direct | Sell | 12032025 | 19.08 | 518 | 9,885 | 358,424 | Form |
| 24 | Ingram, Van | SVP, CHF DEVELOPMENT OFFICER | Direct | Sell | 12032025 | 19.08 | 351 | 6,698 | 96,410 | Form |
| 25 | Hooper, Dawn E | EVP, Chief Financial Officer | Direct | Sell | 12032025 | 19.08 | 691 | 13,186 | 287,896 | Form |
| 26 | Cook, Richard D | SVP, CHIEF TECHNOLOGY OFFICER | Direct | Sell | 12032025 | 19.08 | 1,787 | 34,101 | 518,914 | Form |
| 27 | Mount, Carl | SVP, CHF SUPPLY CHAIN OFFICER | Direct | Sell | 11252025 | 19.00 | 1,393 | 26,467 | 366,700 | Form |
| 28 | Tucker, Lance F | DIRECTOR & CEO | Direct | Buy | 11242025 | 17.29 | 5,000 | 86,450 | 1,461,956 | Form |
| 29 | Ostrom, Ryan Lee | EVP, Chief Cust&Digtl Officer | Direct | Buy | 11242025 | 17.55 | 1,000 | 17,552 | 886,168 | Form |
| 30 | Cook, Richard D | SVP, CHIEF TECHNOLOGY OFFICER | Direct | Sell | 11042025 | 16.38 | 154 | 2,523 | 428,632 | Form |
| 31 | Mount, Carl | SVP, CHF SUPPLY CHAIN OFFICER | Direct | Sell | 9102025 | 19.74 | 589 | 11,627 | 408,467 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Restaurants Resources |
| Nation's Restaurant News |
| Restaurant Business |
| QSR Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.