Dine Brands Global, Inc.
- Open
- 36.19
- Day high
- 36.19
- Day low
- 35.02
- Prev close
- 36.35
- Volume
- 290K
- Mkt cap
- $458M
- P/E (TTM)
- 34.4
- EPS (TTM)
- $1.04
- P/B
- -1.6
- P/S
- 0.5
- Yield
- 2.99%
- Per share
- $1.08
- ▼Insiders net selling -$52K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Dine Brands Global, Inc. (DIN) is a Consumer Cyclical company listed on NYSE. The stock is up 38% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Dine Brands Global, Inc. (DIN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DIN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $1.00 | $0.88 | -12.0% | $225M | +1.4% |
| Feb 25, 2026 | $1.08 | $1.46 | +35.2% | $218M | -3.8% |
| Nov 5, 2025 | $0.82 | $0.73 | -11.0% | $216M | -4.5% |
| Mar 5, 2025 | $1.35 | $0.87 | -35.6% | $205M | -0.5% |
| Feb 28, 2024 | $1.12 | $1.40 | +25.0% | $206M | +0.1% |
| Nov 1, 2023 | $1.31 | $1.46 | +11.5% | $203M | -2.1% |
| Aug 3, 2023 | $1.53 | $1.82 | +19.0% | $208M | -0.7% |
| May 3, 2023 | $1.71 | $1.97 | +15.2% | $214M | +3.4% |
| Mar 1, 2023 | $1.21 | $1.34 | +10.7% | $208M | -2.5% |
| Nov 2, 2022 | $1.30 | $1.66 | +27.7% | $233M | +1.6% |
| May 4, 2022 | $1.44 | $1.54 | +6.9% | $230M | +0.1% |
| Mar 2, 2022 | $1.27 | $1.32 | +3.9% | $230M | -3.0% |
DIN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | DAHL RICHARD Jdirector | Option | 3,616 | $31.02 |
| May 11, 2026 | Hyter Michaeldirector | Sell | 1,800 | $28.88 |
| Apr 14, 2026 | Hyter Michaeldirector | Grant | 26 | — |
| Apr 14, 2026 | Tomovich Liliandirector | Grant | 26 | — |
| Apr 14, 2026 | Starrs Artiedirector | Grant | 26 | — |
| Apr 14, 2026 | Poulter Marthadirector | Grant | 26 | — |
| Apr 14, 2026 | Silva Enriquedirector | Grant | 24 | — |
| Apr 14, 2026 | Ryan Matthew T.director | Grant | 26 | — |
| Apr 14, 2026 | Clark Amandadirector | Grant | 24 | — |
| Apr 14, 2026 | DAHL RICHARD Jdirector | Grant | 26 | — |
| Apr 14, 2026 | Berk Howard Mdirector | Grant | 26 | — |
| Apr 14, 2026 | PASQUALE DOUGLAS Mdirector | Grant | 26 | — |
| Mar 16, 2026 | PASQUALE DOUGLAS Mdirector | Buy | 1,000 | $27.75 |
| Mar 12, 2026 | PASQUALE DOUGLAS Mdirector | Buy | 1,000 | $29.00 |
| Mar 9, 2026 | Ryan Matthew T.director | Option | 4,947 | $31.58 |
Source: DIN SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full DIN insider & 13F page →Dine Brands Global, Inc. company profile
Overview
Dine Brands Global, Inc. (NYSE:DIN) is a restaurant franchisor founded in 1958 and headquartered in Glendale, California. The company owns and franchises two major restaurant brands: Applebee's Neighborhood Grill + Bar and International House of Pancakes (IHOP). Originally known as DineEquity, Inc., the company changed its name to Dine Brands Global in February 2018 to reflect its expanding international presence. As of 2024, Dine Brands operates over 3,300 restaurants globally, making it one of the largest full-service restaurant companies in the world, with a business model primarily focused on franchising rather than company-owned operations.
Business
Dine Brands Global operates in the full-service restaurant industry, specifically within the casual dining and family dining segments. The company's business revolves around two distinct restaurant concepts that serve different market niches and dining occasions. Applebee's Neighborhood Grill + Bar represents approximately 48% of the total restaurant count and operates in the casual dining segment, specifically the bar and grill category. These restaurants offer American fare including burgers, steaks, chicken, and pasta dishes, accompanied by alcoholic beverages, draft beers, and cocktails. Applebee's targets adults seeking a casual dining experience with a neighborhood atmosphere, often featuring sports viewing and social dining occasions. The brand emphasizes value-oriented meal deals and has a strong off-premise business representing about 21-23% of total sales through takeout and delivery services. IHOP (International House of Pancakes) comprises approximately 52% of total restaurant locations and operates in the family dining category. IHOP specializes in breakfast and brunch offerings, with pancakes as its signature menu item, though it also serves lunch and dinner options. The restaurants provide full table service in a family-friendly environment, targeting families with children, seniors, and breakfast enthusiasts. IHOP has been expanding its 24-hour operations at select locations and maintains off-premise sales of approximately 19-21% of total revenue. The company also owns Fuzzy's Taco Shop, a smaller fast-casual Mexican concept acquired in 2022, which operates approximately 137 locations primarily in Texas and surrounding states. Additionally, Dine Brands has been developing dual-brand restaurants that combine IHOP and Applebee's concepts in a single location, leveraging complementary dayparts (IHOP for breakfast/lunch, Applebee's for dinner/late night) to maximize revenue potential and operational efficiency.
Revenue model
Dine Brands Global operates primarily as a restaurant franchisor, generating revenue through multiple streams tied to its franchise business model rather than traditional restaurant operations. The company's primary revenue sources include franchise fees and royalties from its network of franchisees. Franchisees pay initial franchise fees when opening new locations, ongoing royalty fees typically calculated as a percentage of gross sales (usually 4-5% for most concepts), and marketing fund contributions for national advertising campaigns. This asset-light model provides relatively stable, recurring revenue streams that are less capital-intensive than company-owned operations. Rental operations constitute another significant revenue stream, where Dine Brands leases or subleases restaurant properties to franchisees. The company owns or controls leases on approximately 600 properties, primarily IHOP locations, generating rental income while helping franchisees secure prime real estate locations. This vertical integration provides additional recurring revenue and strengthens franchisee relationships. Financing operations generate revenue through financing franchise fees and equipment leases to franchisees, particularly smaller operators who may need capital assistance. This service helps expand the franchisee base while earning interest income on the provided financing. The company operates a limited number of company-owned restaurants, primarily used for testing new concepts, training purposes, or in strategic markets. However, this represents a small portion of total revenue and the company generally seeks to refranchise company-owned locations to maintain its asset-light model. Factors that increase margins include higher same-store sales growth at franchised locations (driving higher royalty payments), successful new unit development, effective cost management in rental operations, and pricing power in franchise agreements. Margin pressures can arise from franchisee financial difficulties, competitive pressures requiring increased marketing support, rising real estate costs for rental properties, and economic downturns that impact consumer dining frequency and spending.
Competitive moat
Dine Brands Global possesses a moderate competitive moat built primarily on brand recognition, franchisee relationships, and operational scale, though this moat faces ongoing challenges in the competitive restaurant industry. The company's strongest moat element is its established brand equity, particularly with IHOP's dominant position in the family dining breakfast segment. IHOP has achieved iconic status in American breakfast culture, with strong brand recognition that would be extremely difficult and expensive for competitors to replicate. Applebee's, while facing more intense competition in casual dining, maintains significant brand awareness and a large network effect from its "neighborhood" positioning. Franchisee network and relationships provide another moat component, as Dine Brands has cultivated long-term partnerships with experienced restaurant operators who have invested significant capital in their locations. This creates switching costs for franchisees and provides the company with local market expertise and operational leverage. The dual-brand concept represents an innovative approach that could strengthen franchisee economics and differentiate from competitors. Operational scale advantages include purchasing power for food and supplies, national advertising reach, and technology investments that smaller competitors cannot match. The company's rental operations business also creates additional franchisee dependency and revenue diversification. However, the moat faces significant challenges. The restaurant industry is highly competitive with low barriers to entry, and consumer preferences can shift rapidly. Casual dining faces particular pressure from fast-casual concepts and delivery platforms. Both brands have experienced declining same-store sales in recent periods, indicating weakening competitive positioning. The franchise model, while asset-light, also limits direct control over customer experience and operational execution, potentially allowing competitors with superior execution to gain market share. The competitive threats are substantial, including established players like Denny's (competing with IHOP), Chili's and other casual dining chains (competing with Applebee's), and the broader trend toward fast-casual dining and food delivery platforms that offer convenience advantages.
Risks & safety
Dine Brands Global presents a moderate margin of safety with manageable financial risks but some operational challenges that warrant attention. Liquidity and Solvency: 1. Strong cash position with $186.5 million in unrestricted cash and short-term investments as of Q1 2025 2. Current ratio of 0.87 indicates tight working capital management but adequate near-term liquidity 3. Negative shareholders' equity of approximately -$216 million due to leveraged capital structure, though this is common for franchise-focused companies 4. Debt-to-equity ratio of -7.6x appears concerning but reflects the negative equity rather than excessive debt burden 5. Free cash flow generation of $94.1 million in 2024 demonstrates ability to service debt and return capital to shareholders Valuation Metrics: 1. Price-to-earnings ratio of 10.6x appears reasonable for a mature franchise business 2. EV/EBITDA of 11.0x is moderate for the restaurant industry 3. Enterprise value supported by recurring franchise royalty streams and rental income 4. Trading below historical averages, potentially reflecting operational challenges Other Considerations: 1. Declining same-store sales trends across both brands create revenue pressure 2. Franchise model provides some insulation from direct operational risks 3. Restaurant industry cyclicality and consumer discretionary spending sensitivity 4. Management's focus on value positioning and operational improvements shows awareness of challenges
Recent development
Over the past few years, Dine Brands Global has undertaken several strategic initiatives to address declining same-store sales and adapt to changing consumer preferences. The company has prioritized value-focused positioning across both brands, with Applebee's launching expanded value platforms including the "Really Big Meal Deal" and plans for a comprehensive everyday value platform in 2025. IHOP introduced the "House Faves" weekday value menu and implemented a barbell strategy offering both premium and value options. Operational simplification has become a key focus, particularly at IHOP, where management has streamlined restaurant operations and focused on core breakfast fundamentals. Both brands have invested in technology and loyalty programs, with Applebee's Club Applebee's reaching 8.5 million members and IHOP's loyalty program expanding significantly. The companies have also enhanced their off-premise capabilities, with delivery and takeout representing approximately 20-23% of sales across both brands. The most significant innovation has been the development of dual-brand restaurants that combine IHOP and Applebee's in single locations. After successful international pilots, the company opened its first domestic dual-brand location in Seguin, Texas, which has performed at 3x the revenue of the previous single-brand operation. Management plans to open 12-14 dual-brand locations in 2025, viewing this as a key strategy to improve unit economics through complementary dayparts and shared operational costs. Leadership changes have included the appointment of Lawrence Kim as IHOP President and Patrick Kirk's promotion at Fuzzy's Taco Shop. The company has also taken back 47 underperforming Applebee's restaurants for remodeling and potential refranchising, demonstrating active portfolio management. International expansion continues with 35 restaurant openings in 2024, though domestic development remains challenged by market saturation and franchisee economics.
DIN company profile · for informational purposes only — not investment advice.
Track DIN with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free