DINE BRANDS GLOBAL, INC.
DIN Consumer Cyclical Restaurants
DINE BRANDS GLOBAL, INC.’s revenue for fiscal 2025 (year ended December 2025) was $879.3 million, up 8.25% from fiscal 2024. In the quarter to June 2026, revenue grew 4.38%, EPS fell 60.7%, free cash flow fell 97.0% and total debt fell 1.99%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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DINE BRANDS GLOBAL, INC. (DIN) Altman Z-score
DINE BRANDS GLOBAL, INC.'s Altman Z-score for fiscal 2025 is 1.05, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.05 | 0.05 |
| FY2024 | 1.00 | (0.11) |
| FY2023 | 1.11 | (0.03) |
| FY2022 | 1.14 | (0.09) |
| FY2021 | 1.23 | 0.42 |
| FY2020 | 0.81 | (0.36) |
| FY2019 | 1.17 | (0.01) |
| FY2018 | 1.18 | 1.18 |
| FY2017 | −0.00 | (1.36) |
| FY2016 | 1.36 | 0.03 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.01) | — | −0.01 | |
| Retained earnings / total assets | 0.10 | — | 0.14 | |
| EBIT / total assets | 0.08 | — | 0.27 | |
| Market value of equity / total liabilities | 0.23 | — | 0.14 | |
| Sales / total assets | 0.51 | — | 0.51 | |
| Altman Z-score | Distress zone | 1.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.69 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NATH Nathan's Famous, Inc. compare | 9.4× |
| PZZA Papa John's International, Inc. compare | 3.7× |
| KRUS Kura Sushi USA, Inc. compare | 3.6× |
| HDL Super Hi International Holding Ltd. Unsponsored ADR compare | 2.9× |
| LOCO El Pollo Loco Holdings, Inc. compare | 1.6× |
| BRCB Black Rock Coffee Bar, Inc. compare | 1.6× |
| DIN DINE BRANDS GLOBAL, INC. | 1.0× |
| PTLO Portillo's Inc. compare | 0.7× |
| BH.A Biglari Holdings Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets