Latest Ratios: P/E Ratio 15.2x · EV/EBITDA 12.1x · ROE N/A. (1995–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $322M | $309M | $611M | $561M | $1.0B | $893M | $1.2B | $1.1B | $932M | $991M | $833M |
| Enterprise Value | $728M | $715M | $1.0B | $969M | $1.3B | $1.3B | $1.7B | $1.4B | $1.2B | $1.2B | $1.0B |
| P/E Ratio → | 15.24 | 14.32 | 31.09 | 7.49 | 13.45 | — | 10.46 | 24.19 | 23.64 | 51.32 | 23.40 |
| P/S Ratio | 0.71 | 0.68 | 1.32 | 1.23 | 2.63 | 3.09 | 2.27 | 1.69 | 1.76 | 1.95 | 1.70 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 350.62 | 336.43 | 9.84 | 20.31 | 15.25 | — | 41.88 | 20.57 | 15.68 | 19.27 | 15.52 |
| P/OCF | 10.92 | 10.47 | 8.48 | 14.21 | 13.77 | — | 28.37 | 14.42 | 11.91 | 13.92 | 10.33 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.58 | 2.16 | 2.12 | 3.37 | 4.40 | 3.05 | 2.18 | 2.30 | 2.43 | 2.13 |
| EV / EBITDA | 12.10 | 11.89 | 14.91 | 12.83 | 11.24 | 55.54 | 8.93 | 13.66 | 12.88 | 17.83 | 12.37 |
| EV / EBIT | 16.07 | 15.15 | 20.87 | 8.68 | 11.52 | 158.00 | 9.94 | 19.30 | 17.20 | 26.56 | 17.05 |
| EV / FCF | — | 779.24 | 16.12 | 35.08 | 19.52 | — | 56.26 | 26.61 | 20.46 | 23.99 | 19.51 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.4% | 73.4% | 33.2% | 31.0% | 35.7% | 27.6% | 30.0% | 26.5% | 31.2% | 32.4% | 31.3% |
| Operating Margin | 10.0% | 10.0% | 11.4% | 13.3% | 26.1% | 2.3% | 30.5% | 11.7% | 13.4% | 9.3% | 12.9% |
| Net Profit Margin | 4.8% | 4.8% | 4.3% | 16.4% | 19.6% | -1.8% | 21.7% | 6.9% | 7.5% | 3.8% | 7.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | 4.5% | 4.5% | 4.1% | 16.0% | 16.9% | -1.1% | 29.5% | 13.3% | 12.6% | 6.4% | 12.3% |
| ROIC | 9.7% | 9.7% | 11.3% | 15.2% | 32.9% | 1.9% | 53.5% | 30.2% | 29.6% | 21.7% | 30.5% |
| ROCE | 11.9% | 11.9% | 13.8% | 16.3% | 27.7% | 1.7% | 54.5% | 31.4% | 32.0% | 23.0% | 31.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 6.78 | 6.78 | 5.88 | 5.45 | 2.72 | 16.63 | 2.30 | 3.15 | 3.06 | 3.55 | 2.55 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 6.76 | 6.76 | 5.81 | 5.40 | 2.46 | 16.46 | 2.28 | 3.10 | 3.01 | 3.51 | 2.53 |
| Debt / FCF | — | 442.81 | 6.28 | 14.78 | 4.28 | — | 14.38 | 6.04 | 4.78 | 4.73 | 3.99 |
| Interest Coverage | 1.94 | 1.94 | 2.51 | 4.40 | 8.35 | 0.47 | 8.95 | 3.55 | 4.52 | 3.84 | 6.80 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.42 | 0.42 | 0.43 | 0.54 | 0.71 | 0.63 | 0.55 | 0.50 | 0.44 | 0.38 | 0.36 |
| Quick Ratio | 0.40 | 0.40 | 0.41 | 0.48 | 0.66 | 0.62 | 0.54 | 0.47 | 0.40 | 0.35 | 0.33 |
| Cash Ratio | 0.03 | 0.03 | 0.06 | 0.06 | 0.34 | 0.08 | 0.07 | 0.07 | 0.05 | 0.03 | 0.02 |
| Asset Turnover | — | 0.91 | 1.00 | 0.92 | 0.91 | 0.59 | 1.18 | 1.88 | 1.63 | 1.66 | 1.65 |
| Inventory Turnover | 68.82 | 68.82 | 142.55 | 56.84 | 50.61 | 176.90 | 285.83 | 154.72 | 116.15 | 112.57 | 108.34 |
| Days Sales Outstanding | — | 19.72 | 16.83 | 20.45 | 17.99 | 27.00 | 16.41 | 15.22 | 14.75 | 14.29 | 12.30 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 7.0% | 3.2% | 13.4% | 7.4% | — | 9.6% | 4.1% | 4.2% | 1.9% | 4.3% |
| FCF Yield | 0.3% | 0.3% | 10.2% | 4.9% | 6.6% | — | 2.4% | 4.9% | 6.4% | 5.2% | 6.4% |
| Buyback Yield | 3.6% | 3.8% | 8.5% | 11.6% | 2.9% | 4.0% | 7.7% | 5.8% | 8.9% | 5.2% | 11.1% |
| Total Shareholder Yield | 3.6% | 3.8% | 8.5% | 11.6% | 2.9% | 4.0% | 7.7% | 5.8% | 8.9% | 5.2% | 11.1% |
| Shares Outstanding | — | $53M | $56M | $61M | $66M | $61M | $62M | $66M | $70M | $77M | $85M |
Liquidity and solvency constraints
According to current market data, Denny's trades at a P/E of 15.24, which appears to discount the company's recent revenue contraction and the significant operational risks associated with its aging 24/7 restaurant infrastructure compared to higher-growth, asset-light peers in the broader casual dining sector.
The current valuation suggests that investors are pricing in a turnaround, yet the lack of a clear PEG ratio indicates that earnings growth is currently too volatile to support a traditional growth-based valuation model. The discount relative to peers like Texas Roadhouse suggests the market is applying a risk premium for the company's high leverage and limited liquidity.
Based on reported figures, ROIC has trended downward to 2.0% in 2025Q3, signaling that the company is struggling to generate meaningful returns on its invested capital as it navigates the high costs of maintaining its legacy restaurant footprint and integrating the Keke's Breakfast Cafe acquisition.
The persistent decay in ROIC suggests that the company's capital allocation, particularly regarding store remodels and acquisitions, is not currently yielding returns that exceed the cost of capital. This trend warrants investigation into whether the asset-light transition is actually improving efficiency or merely masking the underlying decline in core restaurant productivity.
As reported in recent financial statements, the current ratio of 0.35 indicates a severe liquidity constraint, leaving the company with minimal cash buffers to navigate potential macroeconomic volatility or unexpected spikes in commodity costs that could further pressure its already thin operating margins.
The extremely low quick ratio of 0.33 confirms that the company is highly dependent on ongoing cash flow to meet its immediate obligations, as it lacks the liquid assets to cover short-term liabilities. This position appears precarious and suggests that any further deterioration in traffic could necessitate external financing or a suspension of capital return programs.
Investors frequently misapply the P/E ratio to Denny's, which obscures the impact of significant non-cash charges and lease accounting nuances that distort net income, making EV/EBITDA a more reliable metric for assessing the true operational earning power of this asset-light business model.
Because Denny's carries substantial lease liabilities and engages in re-franchising activities that create one-time gains or losses, the P/E ratio often fails to capture the underlying cash-generating capacity of the franchise royalty stream. Analysts should prioritize EV/EBITDA to normalize for the company's capital structure and the impact of its sublease portfolio.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DENN stock.
Denny's Corporation's current P/E ratio is 15.2x. The historical average is 18.3x. This places it at the 47th percentile of its historical range.
Denny's Corporation's current EV/EBITDA is 12.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
Based on historical data, Denny's Corporation is trading at a P/E of 15.2x. This is at the 47th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Denny's Corporation has 73.4% gross margin and 10.0% operating margin. Operating margin between 10-20% is typical for established companies.
Denny's Corporation's Debt/EBITDA ratio is 6.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.