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Segment Information

9 Months Ended

Sep. 30, 2025

Segment Information

Segment Information

(12) Segment Information

​

Our chief operating decision maker (the "CODM") is the Chief Executive Officer. The CODM assesses the performance of the business and allocates resources at the concept level and as a result we have identified Texas Roadhouse, Bubba's 33, Jaggers, and our retail initiatives as separate operating segments. Our reportable segments are Texas Roadhouse and Bubba's 33. The Texas Roadhouse reportable segment includes the results of our company and franchise Texas Roadhouse restaurants. The Bubba's 33 reportable segment includes the results of our company Bubba's 33 restaurants. Our remaining operating segments, which include the results of our company and franchise Jaggers restaurants and the results of our retail initiatives, are included in Other. In addition, corporate-related assets, depreciation and amortization, and capital expenditures are also included in Other.

The CODM uses restaurant margin as the primary financial measure for assessing the performance of our segments. Restaurant margin represents restaurant and other sales less restaurant-level operating costs, including food and beverage costs, labor, rent, and other operating costs. Restaurant margin is also used by our CODM to evaluate core restaurant-level operating efficiency and performance, assist in the evaluation of operating trends over time, and in making capital allocation decisions. Capital allocation decisions include approving new store openings and the refurbishment, expansion, or relocation of existing restaurants.

​

In calculating restaurant margin, we exclude certain non-restaurant-level costs that support operations, including pre-opening and general and administrative expenses, but do not have a direct impact on restaurant-level operational efficiency and performance. We exclude pre-opening expenses as they occur at irregular intervals and would impact comparability to prior period results. We exclude depreciation and amortization expenses, substantially all of which relate to restaurant-level assets, as it represents a non-cash charge for the investment in our restaurants. We exclude impairment and closure expenses as we believe this provides a clearer perspective of the Company’s ongoing operating performance and a more useful comparison to prior period results. Restaurant margin as presented may not be comparable to other similarly titled measures of other companies in our industry.

​

Restaurant and other sales for all operating segments are derived primarily from food and beverage sales. We do not rely on any major customer as a source of sales and the customers and assets of our reportable segments are located predominantly in the United States. There are no material transactions between reportable segments.

The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	For the 13 Weeks Ended September 30, 2025
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	1,336,660	​	$	82,922	​	$	9,529	​	$	1,429,111
Restaurant operating costs (excluding depreciation and amortization)	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	484,872	​	​	23,612	​	​	3,047	​	​	511,531
Labor	​	446,368	​	​	30,907	​	​	3,022	​	​	480,297
Rent	​	20,706	​	​	2,091	​	​	288	​	​	23,085
Other Operating	​	192,786	​	​	15,263	​	​	1,868	​	​	209,917
Restaurant margin	$	191,928	​	$	11,049	​	$	1,304	​	$	204,281
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	43,773	​	$	4,800	​	$	4,055	​	$	52,628
Segment assets	​	2,613,014	​	​	289,606	​	​	363,993	​	​	3,266,613
Capital expenditures	​	94,945	​	​	10,797	​	​	23,154	​	​	128,896
​	​	​	​	​	​	​	​	​	​	​	​
​	For the 13 Weeks Ended September 24, 2024
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	1,184,125	​	$	73,416	​	$	7,738	​	$	1,265,279
Restaurant operating costs (excluding depreciation and amortization)	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	401,259	​	​	20,815	​	​	2,492	​	​	424,566
Labor	​	397,780	​	​	27,223	​	​	2,467	​	​	427,470
Rent	​	17,992	​	​	1,969	​	​	201	​	​	20,162
Other Operating	​	176,545	​	​	12,919	​	​	1,547	​	​	191,011
Restaurant margin	$	190,549	​	$	10,490	​	$	1,031	​	$	202,070
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	37,372	​	$	4,150	​	$	2,988	​	$	44,510
Segment assets	​	2,286,417	​	​	244,773	​	​	382,625	​	​	2,913,815
Capital expenditures	​	81,882	​	​	6,735	​	​	2,444	​	​	91,061
​	​	​	​	​	​	​	​	​	​	​	​
​	For the 39 Weeks Ended September 30, 2025
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	4,097,648	​	$	248,724	​	$	27,055	​	$	4,373,427
Restaurant operating costs (excluding depreciation and amortization)	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	1,435,234	​	​	70,058	​	​	8,554	​	​	1,513,846
Labor	​	1,356,696	​	​	90,078	​	​	8,547	​	​	1,455,321
Rent	​	61,625	​	​	6,173	​	​	792	​	​	68,590
Other Operating	​	585,296	​	​	44,231	​	​	5,235	​	​	634,762
Restaurant margin	$	658,797	​	$	38,184	​	$	3,927	​	$	700,908
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	126,103	​	$	13,679	​	$	12,390	​	$	152,172
Segment assets	​	2,613,014	​	​	289,606	​	​	363,993	​	​	3,266,613
Capital expenditures	​	232,803	​	​	36,705	​	​	29,300	​	​	298,808
​	​	​	​	​	​	​	​	​	​	​	​

​	For the 39 Weeks Ended September 24, 2024
​	Texas Roadhouse		​	Bubba's 33		​	Other		​	Total
Restaurant and other sales	$	3,672,510	​	$	217,501	​	$	23,062	​	$	3,913,073
Restaurant operating costs (excluding depreciation and amortization)	​	​	​	​	​	​	​	​	​	​	​
Food and Beverage	​	1,237,878	​	​	60,516	​	​	7,264	​	​	1,305,658
Labor	​	1,207,106	​	​	78,941	​	​	7,182	​	​	1,293,229
Rent	​	53,274	​	​	5,664	​	​	605	​	​	59,543
Other Operating	​	539,928	​	​	37,161	​	​	4,426	​	​	581,515
Restaurant margin	$	634,324	​	$	35,219	​	$	3,585	​	$	673,128
​	​	​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	108,327	​	$	11,961	​	$	8,630	​	$	128,918
Segment assets	​	2,286,417	​	​	244,773	​	​	382,625	​	​	2,913,815
Capital expenditures	​	214,815	​	​	25,268	​	​	6,456	​	​	246,539

​

A reconciliation of restaurant margin to income from operations is presented below. We do not allocate interest income, net and equity income from investments in unconsolidated affiliates to reportable segments.

​

​	​	​	​	​	​	​	​	​	​	​	​
​	13 Weeks Ended					​	39 Weeks Ended
​	September 30, 2025		​	September 24, 2024		​	September 30, 2025		​	September 24, 2024
Restaurant margin	$	204,281	​	$	202,070	​	$	700,908	​	$	673,128
​	​	​	​	​	​	​	​	​	​	​	​
Add:	​	​	​	​	​	​	​	​	​	​	​
Royalties and franchise fees	​	7,231	​	​	7,720	​	​	22,617	​	​	22,345
​	​	​	​	​	​	​	​	​	​	​	​
Less:	​	​	​	​	​	​	​	​	​	​	​
Pre-opening	​	7,419	​	​	7,282	​	​	19,695	​	​	21,579
Depreciation and amortization	​	52,628	​	​	44,510	​	​	152,172	​	​	128,918
Impairment and closure, net	​	140	​	​	844	​	​	279	​	​	1,135
General and administrative	​	54,376	​	​	55,131	​	​	173,356	​	​	165,874
Income from operations	$	96,949	​	$	102,023	​	$	378,023	​	$	377,967

​

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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