Texas Roadhouse, Inc. (TXRH)

Texas Roadhouse, Inc. is a restaurant company operating predominantly in the casual dining segment. It was incorporated in Delaware in 2004 and is headquartered in Louisville, Kentucky. Its founder, W. Kent Taylor, opened the first Texas Roadhouse in Clarksville, Indiana in 1993. The company's mission is "Legendary Food, Legendary Service," and its strategy is to make each restaurant the local hometown favorite for guests seeking high quality, affordable meals with friendly service. As of December 30, 2025, it had three concepts and 816 restaurants in 49 states, one U.S. territory and ten foreign countries.

The company operates three concepts. Texas Roadhouse is a moderately priced, full-service restaurant serving hand-cut, aged steaks cooked over open grills, plus ribs, seafood, chicken, pork chops, burgers, salads and sandwiches. Entrées usually come with two made-from-scratch sides, and dine-in guests get free peanuts and fresh-baked rolls. Bubba's 33, first opened in 2013, is a full-service concept serving burgers, pizza, wings, appetizers and entrées, with draft beer and signature cocktails. Jaggers, first opened in 2014, is a fast-casual concept offering burgers, hand-breaded chicken sandwiches and tenders, salads and milkshakes through drive-thru, carry-out and dine-in service. Texas Roadhouse, Bubba's 33 and Jaggers are each operating segments, as are the retail initiatives. Texas Roadhouse and Bubba's 33 are the reportable segments. Alcoholic beverages made up 8.8% of company restaurant sales in 2025.

Of the 816 restaurants, 714 are company-owned (648 Texas Roadhouse, 56 Bubba's 33 and ten Jaggers) and 102 are franchised. The franchised restaurants are 36 domestic and 60 international Texas Roadhouse (including two in Puerto Rico), five domestic Jaggers and one international Jaggers. The company's customers are general consumers seeking moderately priced meals. International franchise locations include the Philippines, South Korea, Taiwan, Mexico, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and China. Texas, Florida, Ohio and Indiana have large company restaurant counts. The company does not rely on national television or print advertising. Instead, local marketing is run by restaurant partners and marketing coordinators through community engagement.

Restaurants are run on an owner-operator partnership model. Managing partners (restaurant managers) and market partners (multi-restaurant operators) sign multi-year agreements, make refundable deposits, and earn a base salary plus a bonus tied to restaurant pre-tax income. Most Texas Roadhouse locations serve dinner only on weekdays. Kitchens follow proprietary recipes, with trained meat cutters at domestic Texas Roadhouse restaurants and a team of product coaches and a food team supporting quality and food safety. New sites are chosen by a real estate team and market partners using demographic and site data. The prototype Texas Roadhouse is a freestanding building of about 8,000 square feet seating 270 to 325 guests, and the Bubba's 33 prototype is about 7,600 square feet, with a smaller 6,700 square foot prototype planned for 2026. Average capital investment per new restaurant in 2025 was about $8.3 million for Texas Roadhouse and $9.0 million for Bubba's 33.