olivLaw · US equity research
Red Robin Gourmet Burgers, Inc. RRGB
Retail-Eating Places · SIC 5812 · Vertical: Retail-Eating Places (SIC 5812)
Red Robin Gourmet Burgers operates casual dining restaurants in North America, known for gourmet burgers and its bottomless side offer. The company is in a transformation under its First Choice plan, with declining revenue but improving margins, and a refinancing and refranchising strategy underway as described in its SEC filings.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Red Robin Gourmet Burgers, Inc. (RRGB) stock was 8.91 USD (−3.57% on the day), with market capitalisation 168.4 m USD, beta 0.93, 52-week range 2.59–10.59 USD. Latest reported quarter (Q2 2026): revenue of 277.6 m USD (−2.1% YoY), net income of 386.0 k USD (−90.3% YoY), diluted EPS 0.02 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 54.5
- neutral
- Bollinger (20, 2)
- 8.10 – 9.47
- in the upper half of the band · %B 0.59 · band width 15.5%
- SMA 50 / 200
- 8.28 / 5.94
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.23 / 0.21
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.6% | −5.9% | +12.5 pp | — |
| 3 months | +5.6% | −4.6% | +10.2 pp | — |
| 6 months | +142.8% | +0.2% | +142.6 pp | — |
| Year to date | +120.0% | +7.4% | +112.6 pp | — |
| 1 year | +91.2% | +8.2% | +83.0 pp | +3.4% |
| 3 years | −4.6% | +68.4% | −73.0 pp | −19.6% |
| 5 years | −60.3% | +56.5% | −116.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 12 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '23 | Q2 '24 | Q3 '24 | Q4 '24 | Q2 '25 | Q3 '25 | Q4 '25 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 309.0 m | 300.2 m | 274.6 m | 285.2 m | 283.7 m | 265.1 m | 269.0 m | 277.6 m |
| SG&A | 34.8 m | 28.7 m | 26.3 m | 24.1 m | — | — | — | — |
| Operating income | -8.0 m | -4.6 m | -12.9 m | -33.5 m | 9.8 m | -12.1 m | -4.0 m | 6.2 m |
| Depreciation & amortisation | 13.9 m | 13.4 m | 13.3 m | 12.8 m | 11.6 m | 12.0 m | 12.1 m | 9.7 m |
| Interest expense | — | — | 6.3 m | 6.4 m | 5.8 m | 6.0 m | 6.1 m | 5.7 m |
| Pre-tax income | -13.9 m | -9.5 m | -19.0 m | -39.8 m | 3.9 m | -18.1 m | -10.0 m | 377.0 k |
| Income tax | -143.0 k | -40.0 k | -98.0 k | -133.0 k | -97.0 k | 273.0 k | 84.0 k | -9.0 k |
| Net income | -13.7 m | -9.5 m | -18.9 m | -39.7 m | 4.0 m | -18.4 m | -10.1 m | 386.0 k |
| Diluted EPS | -0.89 ≈ | -0.61 | -1.20 | -2.48 ≈ | 0.21 | -1.03 | -0.56 ≈ | 0.02 |
| Operating cash flow | -18.5 m | — | -12.4 m ≈ | 5.2 m | — | -3.5 m ≈ | 11.0 m | — |
| Capex | 12.4 m | — | 5.6 m ≈ | 6.6 m | — | 6.6 m ≈ | 5.7 m | — |
| Share repurchases | 0 | — | 0 ≈ | 0 | — | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.3 bn | 868.7 m | 1.2 bn | 1.3 bn | 1.3 bn | 1.2 bn | 1.2 bn |
| Revenue YoY | −3.5% | −1.8% | −33.9% | +33.7% | +8.9% | +3.0% | −4.2% | −3.1% |
| Net income | -6.4 m | -7.9 m | -276.1 m | -50.4 m | -78.9 m | -21.2 m | -77.5 m | -23.3 m |
| Net income YoY | −121.4% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.49 | -0.61 | -19.29 | -3.22 | -4.98 | -1.34 | -4.93 | -1.31 |
| Diluted EPS YoY | −121.2% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -0.5% | -0.6% | -31.8% | -4.3% | -6.2% | -1.6% | -6.2% | -1.9% |
| Free cash flow | unavailable | unavailable | -1.9 m | 5.0 m | -2.6 m | -50.6 m | -19.0 m | 6.2 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 28 Dec 2025
- Cash
- 19.9 m USD
- Financial debt
- 164.7 m USD
- Net debt
- 144.8 m USD
- Equity
- -106.3 m USD
- Total assets
- 563.5 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.45x
- ROE
- unavailable
- ROA
- -3.9%
- FCF margin
- 0.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 868.7 m | 1.2 bn | 1.3 bn | 1.3 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | 106.8 m | 122.7 m | 136.6 m | 124.1 m | 118.4 m | — | SEC (XBRL)· 26 Feb 2025verified |
| Operating income | -275.1 m | -37.1 m | -57.5 m | 4.5 m | -53.1 m | 2.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 87.6 m | 83.4 m | 76.2 m | 66.2 m | 57.7 m | 51.1 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | -187.6 m ≈ | 46.3 m ≈ | 18.7 m ≈ | 70.7 m ≈ | 4.6 m ≈ | 53.9 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 10.2 m | 14.2 m | 20.6 m | 26.6 m | 25.3 m | 26.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | -283.6 m | -50.6 m | -78.1 m | -20.9 m | -77.6 m | -23.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | -7.5 m | -152.0 k | 747.0 k | 310.0 k | -90.0 k | 258.0 k | SEC (XBRL)· 25 Feb 2026verified |
| Net income | -276.1 m | -50.4 m | -78.9 m | -21.2 m | -77.5 m | -23.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | -19.29 | -3.22 | -4.98 | -1.34 | -4.93 | -1.31 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 14.3 m | 15.7 m | 15.8 m | 15.8 m | 15.7 m | 17.8 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 16.1 m | 22.8 m | 48.8 m | 23.6 m | 30.7 m | 19.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 16.5 m | 21.4 m | 22.0 m | 21.6 m | 19.7 m | 19.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 23.8 m | 25.2 m | 26.4 m | 26.8 m | 26.7 m | 25.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 86.9 m | 102.2 m | 119.6 m | 91.8 m | 99.4 m | 88.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 427.0 m | 386.3 m | 318.5 m | 261.3 m | 181.2 m | 158.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 0 | — | — | — | — | — | SEC (XBRL)· 03 Mar 2021verified |
| Intangibles (excl. goodwill) | 24.7 m | 21.3 m | 17.7 m | 15.5 m | 11.1 m | 9.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 974.7 m | 929.0 m | 832.1 m | 741.9 m | 641.3 m | 563.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 20.2 m | 32.5 m | 39.3 m | 27.7 m | 29.8 m | 31.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 9.7 m | 9.7 m | 3.4 m | 0 | — | — | SEC (XBRL)· 28 Feb 2024verified |
| Long-term debt | 161.0 m | 167.3 m | 203.2 m | 182.6 m | 181.6 m | 164.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 202.6 m | 223.3 m | 220.2 m | 186.3 m | 189.6 m | 198.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 854.0 m | 852.0 m | 830.4 m | 762.4 m | 725.6 m | 669.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 118.7 m † | 74.5 m † | 1.8 m † | -20.4 m † | -84.3 m † | -106.3 m † | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 20.2 m | 47.3 m | 35.5 m | -1.2 m | 7.0 m | 37.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 22.1 m | 42.3 m | 38.2 m | 49.4 m | 26.0 m | 30.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | -1.9 m ≈ | 5.0 m ≈ | -2.6 m ≈ | -50.6 m ≈ | -19.0 m ≈ | 6.2 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -21.4 m | -42.2 m | -29.6 m | 8.2 m | -1.7 m | -24.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -11.7 m | 1.6 m | 29.5 m | -33.7 m | 2.5 m | -22.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | 1.6 m | 0 | 0 | 10.0 m | 0 | 0 | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 22 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 168.4 m USD
Key indicators
Coverage and freshness
Score by group
- Quality28
- Growth0
- Balance sheet17
- Returns0
- Valuation43
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 8.47 – 29.68 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)8.47 – 22.24 (Mid 13.17)WACC 7.2% · starting FCFF 19.6 m USD · terminal value share of EV 80%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -10.8%
- Peers: EV/EBITDA9.33 – 29.68 (Mid 16.35)22 companies used · median multiple 10.0x · quartiles 7.1x – 15.7xARCO, ARMK, BJRI, BLMN, CBRL, DRI, FWRG, GTIM, LOCO, MCD, NATH, NDLS, PLAY, PTLO, PZZA, QSR, RICK, STKS, TXRH, WING, YUM, YUMC
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 22/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -2.5% | 28 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -1.5% | 0 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 3.1x | 35 (vs peers) | 17% |
| Interest coverage · Balance sheet | -0.2x | 0 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 6.9x | 78 (vs peers) | 17% |
| FCF yield · Valuation | -1.1% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet17/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial28/100 · 1/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation43/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RED ROBIN GOURMET BURGERS, INC. (RRGB). Latest full fiscal year: 2025; data up to 2026-07-12.
Figures computed from the financial statements: revenue 1.2 bn USD in 2025; YoY growth -3.1%; net margin -2.5%; net debt/EBITDA 3.1x.
The estimated value range is 8.90–25.96 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 14.76 USD, the price of 8.91 USD leaves a potential of 65.7% (value / price − 1) and a margin of safety of 39.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 22/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, quality, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/EBITDA: 6.9x
What contradicts it
- Net margin: -2.5%
- Revenue CAGR 3Y: -1.5%
- Interest coverage: -0.2x
- Current ratio: 0.7x
- FCF yield: -1.1%
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, P/E (TTM), Payout ratio (FCF).
Versus the vertical median
Retail-Eating Places (SIC 5812) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MCDMcDONALD’S CORPORATION | 196.8 bn | 0.0 | — | 31.7% | +3.7% | −11% / −1% |
| YUMYum! Brands, Inc. | 45.3 bn | 20.9 | — | 25.4% | +8.8% | +8% / +32% |
| CMGChipotle Mexican Grill, Inc. | 44.8 bn | 33.1 | 48.5% | 10.8% | +5.4% | +3% / −20% |
| DRIDarden Restaurants, Inc. | 25.9 bn | 22.3 | 55.1% | 8.8% | +9.4% | +27% / +46% |
| QSRRestaurant Brands International Inc. | 24.9 bn | 18.3 | 53.8% | 20.1% | +12.2% | +9% / +11% |
| YUMCYum China Holdings, Inc. | 16.8 bn | 17.4 | 18.2% | 7.9% | +4.4% | +3% / +15% |
| ARMKAramark | 13.3 bn | 35.3 | 11.8% | 1.9% | +6.4% | +35% / +80% |
| TXRHTexas Roadhouse, Inc. | 12.6 bn | 30.6 | 28.1% | 6.8% | +9.4% | +9% / +70% |
| EATBrinker International, Inc. | 8.8 bn | 18.7 | 134.7% | 8.4% | +7.9% | +38% / +491% |
| CAVACAVA Group, Inc. | 7.0 bn | 108.4 | 7.9% | 4.5% | +22.4% | +23% / +76% |
| WINGWingstop Inc. | 4.5 bn | 38.9 | — | 16.0% | +11.4% | −37% / −31% |
| CBRLCracker Barrel Old Country Store, Inc. | 1.5 bn | 48.5 | 6.7% | 1.0% | −4.7% | +135% / +1% |
| ARCOArcos Dorados Holdings Inc. | 1.5 bn | 6.9 | 33.2% | 4.5% | +4.7% | −8% / −40% |
| BJRIBj’s Restaurants, Inc. | 1.2 bn | 31.2 | 10.4% | 2.9% | +3.1% | +52% / +95% |
| SGSweetgreen, Inc. | 1.1 bn | 115.4 | 3.1% | 2.0% | +0.4% | +78% / +23% |
| BLMNBloomin’ Brands, Inc. | 896.5 m | 33.5 | 6.7% | 0.7% | +0.1% | +47% / −55% |
| FWRGFirst Watch Restaurant Group, Inc. | 809.9 m | 40.9 | 3.1% | 1.5% | +20.3% | −29% / −27% |
| PZZAPapa John’s International, Inc. | 655.2 m | 26.3 | — | 1.4% | −0.3% | −53% / −70% |
| LOCOEl Pollo Loco Holdings, Inc. | 500.9 m | 14.1 | 11.8% | 7.0% | +3.6% | +51% / +98% |
| DINDine Brands Global, Inc. | 441.1 m | 105.0 | — | 0.4% | +8.2% | +15% / −17% |
| PTLOPortillo's Inc. | 433.8 m | 31.5 | 3.6% | 2.3% | +3.0% | +34% / −55% |
| NATHNathan's Famous, Inc. | 418.2 m | 21.1 | — | 11.8% | +9.4% | −4% / +56% |
| PLAYDave & Buster’s Entertainment, Inc. | 283.7 m | — | -69.7% | -4.3% | −1.4% | −53% / −80% |
| JACKJack In The Box Inc. | 274.8 m | 8.2 | — | 2.4% | −6.7% | −27% / −80% |
| RICKRci Hospitality Holdings, Inc. | 223.3 m | — | -1.7% | -1.5% | −5.5% | +20% / −50% |
1- and 3-year price returns: for RRGB from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 12 Aug 2026; since then the company filed 8-K (02 Nov 2026 · results).
In brief
Red Robin Gourmet Burgers operates casual dining restaurants in North America, known for gourmet burgers and its bottomless side offer. The company is in a transformation under its First Choice plan, with declining revenue but improving margins, and a refinancing and refranchising strategy underway as described in its SEC filings 123.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Debt refinancinghigh
Maturing debt must be refinanced, and failure could lead to accelerated repayment 1. The company extended maturities but there is no assurance of acceptable terms 1.
- Covenant compliancehigh
Breaching credit covenants could trigger default and acceleration of the debt 1.
- Strategy executionmedium
The First Choice plan could fail to deliver the expected traffic and cost reductions 1.
- Data securitymedium
A security incident could expose guest and employee data and create remediation costs 1.
- Geographic concentrationlow
Operations concentrated in the western United States expose the company to regional climate and economic events 2.
Investment thesis
What would need to be true (bull case)
- The second quarter of fiscal 2026 showed the best traffic in several years and higher margins, which could signal a recovery 23.
- The announced refranchising deals could materially reduce debt and add financial flexibility if completed 3.
- Labor cost control could support margins even if sales remain soft 1.
What to watch
- Completion of refranchising deals and updated fiscal 2026 guidanceQ3 2026
- Refinancing or extension of debt before the September 2027 maturity2027
- Trends in comparable traffic and average guest checkQ3 2026
- Restaurant-level margin and labor cost developmentnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 12 Aug 2026; since then the company filed 8-K (02 Nov 2026 · results).
The business
Red Robin Gourmet Burgers, Inc. is the parent of Red Robin International, Inc., which operates, franchises and develops casual dining restaurants in North America, focusing on more than 20 craveable burgers served with Bottomless Steak Fries 1. At the end of fiscal 2025 there were 475 restaurants, of which 385 were company-owned and 90 franchised 1. Total revenues in fiscal 2025 were 1.21 billion USD, down 38.3 million USD from 2024, with a net loss of 23.3 million USD 1.
The strategy is the First Choice plan, launched in July 2025, aiming to hold serve, drive traffic, find money through selective refranchising and debt reduction, fix restaurants and win together through a high-performance culture 1. David Pace was appointed President and CEO in fiscal 2025 1. The company describes its Big Yummm burger deal as a response to value-seeking guests 12.
In the second quarter of fiscal 2026, total revenues were 277.6 million USD and adjusted EBITDA was 18.9 million USD 23. Management announced three refranchising agreements covering 116 restaurants with expected gross proceeds of 96 million USD, which could support debt refinancing if completed 3. Fiscal 2026 guidance was reaffirmed without including the effects of these transactions 3.
Segments
Market context
The company competes in North American casual dining, where barriers to entry are low and competition is intense 1. Demand depends on visit frequency and discretionary spending, which are sensitive to inflation and economic conditions 1. Operations are concentrated in the Western United States, which exposes the company to regional events 2.
Market conditions are shaped by labor, food and third-party delivery commission costs, which pressured margins in 2025 1. In 2026, traffic recovery and higher average checks supported quarterly performance 3.
Trends
- Shift toward valuemixed
Guests adopted the Big Yummm value offer, which lowered average check but supported traffic 12. If this trend continues it could support volumes in the near term 2.
- Lower labor cost ratiotailwind
Labor costs fell as a share of sales in 2025 due to efficiency and lower turnover 1. This supports margins but depends on wage inflation 1.
- Cost and inflation pressureheadwind
Wage, food and general liability insurance inflation could reduce margins 1. The company also cites tariffs on commodities as a risk 12.
- Refinancing and refranchisingmixed
Debt being refinanced and planned restaurant sales to franchisees could bring liquidity if completed 3. Success depends on lender terms 13.
Competitive position
Competitors include well-capitalized national casual dining chains, better-burger quick serve and fast casual concepts, and local independents 1. Some competitors have greater financial and marketing resources and may use deep discounts 1. Guests may also choose delivery services or supermarket meals 1.
The company differentiates through gourmet burgers, bottomless sides and a family-friendly atmosphere aimed at multi-generational middle-income guests 1. The sources do not name competitors listed on a US exchange, so no tickers are given 1.
- National casual dining chains
Well-capitalized chains competing for the same guests, as described in the 10-K risk factors 1.
- Better-burger quick serve and fast casual concepts
Burger concepts of higher quality expanding quickly into segments the company targets 1.
- Local independent restaurants
Local operators entering markets easily given low barriers to entry 1.
- Delivery services and supermarkets
Meal kits, delivery and grocery meals that can reduce restaurant visits 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Red Robin (RRGB) Completes $89.4M of Refranchising Transactions. Will Debt Relief Offset the Loss of Company-Operated Economics?Yahoo Finance — News · 10 Sept 2026 · EN
The latest news item in our archive is from 10 Sept 2026; the newest SEC filing is from 02 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report02 Nov 2026Results of operations · Financial statements and exhibits
- Current report28 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report05 Oct 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
- Current report17 Sept 2026Departure or appointment of officers
- Current report01 Sept 2026Acquisition or disposition of assets · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report12 Aug 2026
- Current report12 Aug 2026Results of operations · Financial statements and exhibits
- Current report (amendment)24 Jul 2026Departure or appointment of officers
- Current report23 Jul 2026Departure or appointment of officers
- Current report15 Jun 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-28 · SEC / Red Robin Gourmet Burgers, Inc. · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-07-12 · SEC / Red Robin Gourmet Burgers, Inc. · 12 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Red Robin Gourmet Burgers, Inc. · 12 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.