Detailed financial statements for Bloomin' Brands, Inc. (BLMN): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Bloomin' Brands, Inc., through its various subsidiary entities, operates a diverse portfolio of dining establishments, encompassing casual, upscale casual, and fine dining experiences across the United States and internationally. The company's operations are divided into two main segments: U.S. and International.
Analysis Summary
Bloomin' Brands, Inc. reported revenue of $3.96B in the most recent fiscal year, growing at a 5-year CAGR of 4.5%.
Trailing-twelve-month margins: gross margin 40.1%, operating margin 1.3%, net margin 0.7%. Free cash flow grew at 13.7% CAGR over 5 years.
At the current price of $8.04, BLMN trades at a P/E of 22.75 and an ROE of 7.35%. Market capitalisation stands at $688M.
Balance sheet quality for BLMN: current ratio of 0.3, net debt of $1.96B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $96.8M represents 1799% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.25B | $4.21B | $4.13B | $4.14B | $3.17B | $4.12B | $4.01B | $4.17B | $3.95B | $3.96B |
| Cost of Revenue | $3.56B | $3.52B | $3.46B | $3.47B | $2.83B | $3.39B | $3.33B | $3.45B | $1.15B | $3.60B |
| Gross Profit | $694.1M | $697.7M | $666.4M | $672.2M | $336.0M | $731.7M | $674.9M | $719.2M | $2.80B | $351.9M |
| Research & Development | $5.2M | $3.9M | $3.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $268.0M | $307.0M | $282.7M | $275.2M | $254.4M | $245.6M | $212.9M | $233.6M | $219.4M | $238.4M |
| Operating Expenses | $461.8M | $499.2M | $484.3M | $481.1M | $511.0M | $422.7M | $368.8M | $436.4M | $2.66B | $189.3M |
| Operating Income | $127.6M | $146.1M | $145.3M | $191.1M | -$175.0M | $309.0M | $306.1M | $282.8M | $139.8M | $162.6M |
| EBITDA | $289.8M | $383.1M | $385.3M | $387.8M | $5.2M | $470.3M | $330.7M | $452.6M | $179.4M | $210.1M |
| Interest Expense | $45.7M | $41.4M | $44.9M | $49.3M | $64.4M | $57.6M | $53.4M | $52.2M | $62.6M | $45.4M |
| Pre-tax Income | $56.5M | $118.5M | $100.3M | $141.7M | -$239.5M | $249.3M | $127.4M | $231.2M | -$58.8M | -$12.9M |
| Income Tax | $10.1M | $16.0M | -$9.2M | $7.6M | -$80.7M | $26.4M | $34.3M | $18.4M | -$12.1M | -$26.7M |
| Net Income | $41.7M | $100.2M | $107.1M | $130.6M | -$158.7M | $215.6M | $101.9M | $247.4M | -$128.0M | $5.4M |
| EPS | $0.35 | $1.05 | $1.16 | $1.47 | $-1.82 | $2.42 | $1.15 | $2.84 | $-1.49 | $0.06 |
| EPS (Diluted) | $0.34 | $1.02 | $1.14 | $1.45 | $-1.82 | $2.00 | $1.03 | $2.56 | $-1.49 | $0.06 |
| Shares Outstanding (Diluted) | $114.3M | $99.7M | $94.1M | $89.8M | $87.5M | $107.8M | $98.5M | $96.5M | $85.9M | $85.2M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $928.8M | $975.2M | $1.06B | $1.02B |
| Gross Profit | $653.7M | $684.6M | $116.9M | $141.9M |
| Operating Income | -$36.4M | -$13.3M | $62.5M | $38.3M |
| EBITDA | $13.3M | $30.9M | $105.2M | $84.3M |
| Net Income | -$45.9M | -$13.5M | $55.7M | $31.3M |
| EPS | $-0.54 | $-0.16 | $0.65 | $0.37 |
| EPS (Diluted) | $-0.54 | $-0.16 | $0.65 | $0.36 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $127.2M | $128.3M | $71.8M | $67.1M | $110.0M | $87.6M | $84.7M | $111.5M | $70.1M | $59.5M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $134.9M | $110.7M | $122.3M | $141.1M | $103.5M | $123.1M | $131.9M | $93.8M | $114.6M | $102.2M |
| Inventory | $65.2M | $51.3M | $72.8M | $86.9M | $61.9M | $79.1M | $78.1M | $62.9M | $68.7M | $61.5M |
| Total Current Assets | $390.5M | $360.2M | $335.5M | $340.5M | $323.9M | $352.8M | $346.6M | $343.3M | $320.5M | $252.5M |
| Property, Plant & Equipment | $1.24B | $1.17B | $1.12B | $2.30B | $2.06B | $1.97B | $2.02B | $1.96B | $1.96B | $1.89B |
| Goodwill | $310.1M | $310.2M | $295.4M | $288.4M | $271.2M | $268.4M | $273.0M | $213.3M | $213.3M | $185.1M |
| Intangible Assets | $563.0M | $546.9M | $528.1M | $494.9M | $484.2M | $476.7M | $471.8M | $456.0M | $429.1M | $447.6M |
| Total Assets | $2.64B | $2.57B | $2.46B | $3.59B | $3.36B | $3.29B | $3.32B | $3.42B | $3.38B | $3.17B |
| Accounts Payable | $195.4M | $185.5M | $174.5M | $174.9M | $141.5M | $168.0M | $183.7M | $155.9M | $153.2M | $138.2M |
| Short-term Debt | $35.1M | $26.3M | $27.2M | $26.4M | $38.7M | $11.0M | $1.6M | 0 | $158.8M | $179.7M |
| Total Current Liabilities | $823.4M | $860.9M | $791.0M | $962.0M | $950.1M | $984.6M | $978.9M | $1.00B | $952.3M | $878.6M |
| Long-term Debt | $1.05B | $1.09B | $1.07B | $1.02B | $997.8M | $782.1M | $828.5M | $780.7M | $1.03B | $787.4M |
| Total Liabilities | $2.45B | $2.52B | $2.41B | $3.42B | $3.35B | $3.07B | $3.05B | $3.01B | $3.25B | $2.83B |
| Retained Earnings | -$786.8M | -$945.0M | -$920.0M | -$755.1M | -$918.1M | -$698.2M | -$706.1M | -$528.8M | -$925.8M | -$917.6M |
| Total Equity | $195.4M | $49.5M | $54.8M | $170.3M | $4.1M | $216.5M | $271.4M | $409.1M | $135.5M | $333.6M |
| Total Debt | $1.09B | $1.12B | $1.09B | $2.50B | $2.45B | $1.97B | $2.16B | $2.03B | $2.27B | $2.02B |
| Net Debt | $962.3M | $989.8M | $1.02B | $2.43B | $2.34B | $1.88B | $2.08B | $1.92B | $2.20B | $1.96B |
| Working Capital | -$432.9M | -$500.7M | -$455.6M | -$621.6M | -$626.2M | -$631.8M | -$632.3M | -$659.0M | -$631.8M | -$626.2M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $66.5M | $59.5M | $71.3M | $66.6M |
| Total Assets | $3.28B | $3.17B | $3.11B | $3.12B |
| Total Liabilities | $2.93B | $2.83B | $2.72B | $2.68B |
| Total Equity | $344.1M | $333.6M | $395.5M | $431.8M |
| Total Debt | $2.21B | $2.01B | $1.98B | $1.91B |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $41.7M | $101.3M | $107.1M | $130.6M | -$158.7M | $215.6M | $101.9M | $205.8M | -$52.0M | $13.8M |
| Depreciation & Amortization | $193.8M | $192.3M | $201.6M | $270.2M | $254.7M | $241.7M | $252.9M | $169.3M | $175.6M | $177.7M |
| Stock-based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $7.8M |
| Change in Working Capital | -$4.3M | $54.3M | -$79.7M | -$109.9M | -$4.7M | -$134.7M | -$174.6M | $12.4M | -$96.5M | $5.5M |
| Operating Cash Flow | $340.6M | $409.0M | $288.1M | $317.6M | $138.8M | $402.5M | $390.9M | $532.4M | $228.1M | $276.7M |
| Capital Expenditure | -$260.6M | -$260.6M | -$208.2M | -$161.9M | -$87.8M | -$122.8M | -$219.7M | -$282.2M | -$220.7M | -$179.9M |
| Acquisitions | $561.8M | $139.9M | $32.2M | $26.7M | $2.6M | $10.7M | -$2.0M | $4.4M | $8.4M | 0 |
| Stock Repurchased | -$310.3M | -$272.9M | -$114.0M | -$107.0M | -$1.5M | 0 | -$109.2M | -$70.8M | -$267.4M | 0 |
| Dividends Paid | -$31.4M | -$31.0M | -$33.3M | -$35.7M | -$17.5M | 0 | -$49.7M | -$83.7M | -$82.6M | -$38.3M |
| Free Cash Flow | $80.0M | $148.4M | $79.8M | $155.7M | $51.0M | $279.6M | $171.2M | $250.2M | $7.4M | $96.8M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | $34.4M | $119.1M | $75.3M | $90.9M |
| Capital Expenditure | -$40.2M | -$55.5M | -$25.2M | -$44.0M |
| Free Cash Flow | -$5.7M | $63.7M | $50.1M | $46.9M |
| Dividends Paid | -$12.8M | $38.3M | 0 | 0 |
| Stock-based Compensation | 0 | $5.4M | $2.7M | $3.6M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -0.9% | -2.1% | +0.3% | -23.4% | +30.0% | -2.7% | +4.0% | -5.2% | +0.1% | |
| Net Income Growth (YoY) | +140.1% | +6.8% | +21.9% | -221.6% | +235.8% | -52.7% | +142.8% | -151.7% | +104.2% | |
| EPS Growth (YoY) | +200.0% | +10.5% | +26.7% | -223.8% | +233.0% | -52.5% | +147.0% | -152.5% | +104.2% | |
| Shares Change (YoY) | -12.8% | -5.6% | -4.6% | -2.6% | +23.2% | -8.6% | -2.1% | -10.9% | -0.8% | |
| FCF Growth (YoY) | +85.5% | -46.2% | +95.0% | -67.2% | +448.2% | -38.8% | +46.1% | -97.0% | +1208.6% | |
| Gross Margin | 16.3% | 16.6% | 16.2% | 16.2% | 10.6% | 17.7% | 16.8% | 17.3% | 70.9% | 8.9% |
| Operating Margin | 3.0% | 3.5% | 3.5% | 4.6% | -5.5% | 7.5% | 7.6% | 6.8% | 3.5% | 4.1% |
| EBITDA Margin | 6.8% | 9.1% | 9.3% | 9.4% | 0.2% | 11.4% | 8.2% | 10.9% | 4.5% | 5.3% |
| Net Margin | 1.0% | 2.4% | 2.6% | 3.2% | -5.0% | 5.2% | 2.5% | 5.9% | -3.2% | 0.1% |
| FCF Margin | 1.9% | 3.5% | 1.9% | 3.8% | 1.6% | 6.8% | 4.3% | 6.0% | 0.2% | 2.4% |
| Effective Tax Rate | 18.0% | 13.5% | -9.2% | 5.3% | 33.7% | 10.6% | 26.9% | 8.0% | 20.6% | 206.4% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $0.70 | $1.49 | $0.85 | $1.73 | $0.58 | $2.59 | $1.74 | $2.59 | $0.09 | $1.14 |
| Dividends Per Share | $0.27 | $0.31 | $0.35 | $0.40 | $0.20 | $0.00 | $0.50 | $0.87 | $0.96 | $0.45 |
| Shares Outstanding (Basic) | $111.4M | $96.4M | $92.0M | $88.8M | $87.5M | $89.0M | $88.8M | $87.2M | $85.9M | $85.2M |
What to look at in Consumer Cyclical companies
- 5y avg operating margin (Cycle average) — Look at the cycle average, not the current year (peak or trough).
- Inventory turnover (>=4x/year) — Healthy retail rotates inventory fast. A drop signals weak demand.
- 5y avg ROIC (>=12%) — Cyclicals with avg ROIC >12% are structural winners.
- Net debt / EBITDA (peak) (<3x trough) — In cyclicals debt kills in recessions.
- Current Ratio (>1.5x) — Survives 12-18 months without operating cash.
- Altman Z-Score (>2.99 safe) — Bankruptcy model — key in cyclicals sensitive to recessions.
Profitability
| Return on Equity | 7.35% |
| Return on Invested Capital | 2.07% |
| Return on Assets | 0.89% |
| Gross Margin | 40.14% |
| Operating Margin | 1.28% |
| Net Margin | 0.70% |
Financial Health
| Debt / Equity | 4.43 |
| Current Ratio | 0.25 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 51.51 | 20.32 | 15.42 | 15.01 | -10.36 | 8.78 | 18.23 | 9.91 | -8.13 | 99.68 |
| P/B | 10.28 | 41.57 | 30.04 | 11.51 | 397.98 | 8.74 | 6.86 | 6.00 | 7.68 | 1.61 |
| P/S | 0.47 | 0.49 | 0.40 | 0.47 | 0.52 | 0.46 | 0.46 | 0.59 | 0.26 | 0.14 |
| Gross Margin | 16.3% | 16.6% | 16.2% | 16.2% | 10.6% | 17.7% | 16.8% | 17.3% | 70.9% | 8.9% |
| Operating Margin | 3.0% | 3.5% | 3.5% | 4.6% | -5.5% | 7.5% | 7.6% | 6.8% | 3.5% | 4.1% |
| Net Margin | 1.0% | 2.4% | 2.6% | 3.2% | -5.0% | 5.2% | 2.5% | 5.9% | -3.2% | 0.1% |
Related companies: CBRL · DIN · ETD · HOV · KRUS · LEGH · OXM
Explore sector: Consumer Cyclical · Restaurants
More sections of BLMN: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Radar — undervalued stock signals · Investment Academy — learn to analyze stocks