Cracker Barrel Old Country Store (CBRL)
NASDAQ:CBRL
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Cracker Barrel
(NASDAQ:CBRL)
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Rating:45Neutral
Price Target:
$26.00
▼(-13.91% Downside)
Action:ReiteratedDate:03/05/26
The score is held down primarily by weakening financial performance (margin compression into a loss and negative free cash flow) and an expensive earnings multiple. The earnings call adds some support due to restructuring actions and balance-sheet flexibility, while technicals are broadly neutral with the longer-term trend still weak.
Positive Factors
Liquidity & Covenant Headroom
Very low senior leverage versus covenant gives durable financial flexibility: the company can absorb near-term operating weakness, retire convertible notes using revolver capacity, and execute restructuring without immediate covenant pressure, supporting a multi‑quarter operational reset.
Negative Factors
Margin Compression
Sharp multi‑year margin deterioration (EBITDA ~2.7%) and a move to net loss signal impaired earnings power. Persistent margin pressure from COGS, labor and discounts makes it harder to self‑fund reinvestment, prolongs recovery time, and increases sensitivity to modest revenue declines.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity & Covenant Headroom
Very low senior leverage versus covenant gives durable financial flexibility: the company can absorb near-term operating weakness, retire convertible notes using revolver capacity, and execute restructuring without immediate covenant pressure, supporting a multi‑quarter operational reset.
Read all positive factors
Cracker Barrel (CBRL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$700.03M
Dividend Yield3.54%
Average Volume (3M)1.07M
Price to Earnings (P/E)131.2
Beta (1Y)0.96
Revenue Growth-4.13%
EPS Growth-111.07%
CountryUS
Employees77,600
SectorGeneral
Sector StrengthN/A
IndustryRestaurants
Share Statistics
EPS (TTM)0.25
Shares Outstanding22,351,023
10 Day Avg. Volume1,169,811
30 Day Avg. Volume1,067,381
Financial Highlights & Ratios
PEG Ratio2.20
Price to Book (P/B)2.88
Price to Sales (P/S)0.38
P/FCF Ratio22.06
Enterprise Value/Market Cap2.62
Enterprise Value/Revenue0.55
Enterprise Value/Gross Profit2.15
Enterprise Value/Ebitda14.89
Forecast
1Y Price Target
$32.80Price Target Upside8.61% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)-1.28
Revenue Forecast (FY)$3.25B
Cracker Barrel Business Overview & Revenue Model
Company Description
Cracker Barrel Old Country Store, Inc. develops and operates the Cracker Barrel Old Country Store concept in the United States. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, a...
How the Company Makes Money
Cracker Barrel primarily makes money through (1) restaurant sales and (2) retail store sales generated at its co-located restaurant-and-store units. Restaurant revenue comes from guest dining occasions (breakfast, lunch, and dinner), with sales dr...
Cracker Barrel Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how different business areas contribute to overall sales, highlighting which segments drive growth and profitability for Cracker Barrel.
Shows how different business areas contribute to overall sales, highlighting which segments drive growth and profitability for Cracker Barrel.
Data provided by:
The Fly
The FlyCracker Barrel Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jun 09, 2026
Earnings Call Sentiment Negative
The call contains meaningful operational progress and encouraging guest-experience indicators (Google rating at multi-year high, YoY improvements in taste/service/value, loyalty scale >11M, management turnover improving and menu successes). However, these positives sit alongside material near-term financial headwinds: comparable sales and traffic down double digits in the quarter, adjusted EBITDA nearly halved YoY, weaker retail performance and margin pressure from higher COGS, labor and discounts. Management is taking cost actions (G&A savings, lower advertising, reduced capex) and the balance sheet is strong, but the current financial trends outweigh the early recovery signals.Positive Updates
Total Sales and Adjusted EBITDA Reported
Q2 total sales of $874.8 million and adjusted EBITDA of $38.2 million (4.4% of revenue).
Negative Updates
Revenue and Comparable Sales Declines
Total revenue down 7.9% YoY to $874.8M; restaurant revenue down 7.5% to $694.3M; comparable store restaurant sales decreased 7.1%.
Read all updates
Q2-2026 Updates
Positive
Negative
Total Sales and Adjusted EBITDA Reported
Q2 total sales of $874.8 million and adjusted EBITDA of $38.2 million (4.4% of revenue).
Read all positive updates
Company Guidance
Management guided fiscal 2026 total revenue of $3.24–3.27 billion with pricing of ~4%, commodity inflation of 2.0–2.5% and hourly inflation of 2.5–3.0%, and now expects full‑year adjusted EBITDA of approximately $85–100 million. They are targeting annualized G&A savings of $20–25 million from restructuring, expect H2 advertising spend to be $13–17 million lower versus last year, and plan reduced capital expenditures of $105–115 million (Q2 capex was $26.6 million). Traffic is expected to be roughly negative 8.5%–9.5% for the year; for context Q2 revenue was $874.8 million, restaurant revenue $694.3 million with comparable restaurant sales down 7.1% and traffic down 10.1%, adjusted EBITDA was $38.2 million (4.4% of revenue). The company ended the quarter with $531.5 million of debt, a consolidated senior debt to adjusted EBITDA leverage ratio of 0.3 (below the 3.0 covenant), and expects a ~ $46 million net cash benefit in Q3 from litigation settlements (counted in credit‑agreement EBITDA but excluded from reported adjusted EBITDA).Cracker Barrel Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
45
Neutral
Cash Flow
39
Negative
| Breakdown | TTM | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.36B | 3.48B | 3.47B | 3.44B | 3.27B | 2.82B |
| Gross Profit | 852.16M | 1.15B | 1.11B | 1.11B | 1.07B | 973.06M |
| EBITDA | 123.23M | 193.19M | 169.60M | 237.84M | 269.31M | 488.00M |
| Net Income | -4.01M | 46.38M | 40.93M | 99.05M | 131.88M | 254.51M |
Balance Sheet | ||||||
| Total Assets | 2.10B | 2.16B | 2.16B | 2.22B | 2.29B | 2.39B |
| Cash, Cash Equivalents and Short-Term Investments | 8.57M | 39.64M | 12.04M | 25.15M | 45.10M | 144.59M |
| Total Debt | 1.15B | 1.13B | 1.20B | 1.12B | 1.20B | 1.08B |
| Total Liabilities | 1.68B | 1.70B | 1.72B | 1.73B | 1.78B | 1.73B |
| Stockholders Equity | 425.83M | 461.69M | 440.15M | 483.82M | 511.48M | 663.63M |
Cash Flow | ||||||
| Free Cash Flow | -21.31M | 60.25M | 40.69M | 125.07M | 108.15M | 231.77M |
| Operating Cash Flow | 123.04M | 218.90M | 168.98M | 250.46M | 205.25M | 301.90M |
| Investing Cash Flow | -141.12M | -156.70M | -124.33M | -124.32M | -98.50M | 78.33M |
| Financing Cash Flow | 16.31M | -34.59M | -57.77M | -146.10M | -206.24M | -672.64M |
Cracker Barrel Technical Analysis
Positive
30.20
Price Trends
29.64
Positive
29.05
Positive
38.76
Negative
Market Momentum
0.07
Negative
58.02
Neutral
75.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBRL, the sentiment is Positive. The current price of 30.2 is above the 20-day moving average (MA) of 28.17, above the 50-day MA of 29.64, and below the 200-day MA of 38.76, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 58.02 is Neutral, neither overbought nor oversold. The STOCH value of 75.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CBRL.
Cracker Barrel Risk Analysis
Cracker Barrel disclosed 35 risk factors in its most recent earnings report. Cracker Barrel reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cracker Barrel Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $411.00M | 31.17 | -182.42% | 2.09% | 7.79% | -9.60% | |
73 Outperform | $3.13B | 12.87 | 37.06% | 2.11% | 5.14% | 8.17% | |
71 Outperform | $6.53B | 12.42 | 123.43% | ― | 11.75% | 40.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | $1.19B | 42.31 | -6.99% | 4.72% | -0.27% | -64.64% | |
45 Neutral | $700.03M | 131.25 | -0.90% | 3.54% | -4.13% | -111.07% | |
42 Neutral | $54.32M | -1.46 | -8.89% | 1.27% | 2.00% | -517.28% |
* General Sector Average
CBRL
Cracker Barrel
31.09
-10.60
-25.43%
EAT
Brinker International
148.14
19.46
15.12%
NATH
Nathan's Famous
100.26
5.66
5.98%
PZZA
Papa John's International
35.50
1.66
4.89%
CAKE
Cheesecake Factory
60.20
10.79
21.84%
GENK
GEN Restaurant Group, Inc. Class A
1.63
-2.87
-63.78%
Cracker Barrel Corporate Events
Business Operations and StrategyFinancial Disclosures
Cracker Barrel Highlights Turnaround Actions at 2026 ICR Conference
Positive
Jan 12, 2026
From January 12–14, 2026, Cracker Barrel management is meeting with investors at the 2026 ICR Conference, using a January 2026 investor presentation that highlights the company’s operational reset, balance sheet position, and guest-exp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.