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Dine Brands Global, Inc. , together with its subsidiaries (referred to as the Company, Dine Brands Global, we, our and us ), owns and franchises the International House of Pancakes ( IHOP ) restaurant concept in the full-service restaurant family dining category, the Applebee s Neighborhood Grill + Bar ( Applebee s ) restaurant concept in the full-service casual dining category, and the Fuzzy s…
17.75% operating margin is respectable but not wide. ROIC at 9.21%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 7.9%, steady but not accelerating. Margins contracted 4.3pp, which offsets some of the top-line progress.
Free cash flow declined 43% versus the prior year, cash generation momentum has weakened. Net debt of $1.47B represents 27.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$886M
▲ +7.9% YoY
Net Income (TTM)
$16M
▼ -73.6% YoY
Op. Margin
17.02%
▼ -4.3pp YoY
ROIC
8.99%
▼ -0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$36M
▼ -43.2% YoY
Op. Cash Flow (TTM)
$80M
▼ -17.7% YoY
Net Debt
$1.51B
Cash & Equiv.
$104M
5Y CAGR: -0.6%
5Y CAGR: -21.5%
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