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what it is
Jack in the Box runs and franchises fast-food burger restaurants, with 2,136 locations and most of them operated by franchisees.
how it gets paid
Fiscal 2025 revenue was about $1.47B (down ~6.7% vs. prior year). The largest line item was company restaurant sales (~$0.63B, ~43% of revenue), with franchise rental (~$0.37B), royalties and other (~$0.23B), and franchise advertising contributions (~$0.24B) making up the rest.
why growth slowed
Revenue fell about 6.7% last fiscal year. Latest reported quarter revenue was $326.2 million, down 6.6% vs. prior year. Jack in the Box system same-store sales were down 7.4% in that quarter and down 4.2% for fiscal 2025.
what just happened
Q4 fiscal 2025 adjusted EPS was $0.30, below the Zacks consensus of about $0.46 (a miss). Revenue of $326.2 million was slightly ahead of the consensus sales estimate.
At a glance
C+ balance sheet — struggling to keep the lights on
75/100 earnings predictability — reasonably predictable
trailing P/E n/a (FY loss) · forward ~2.6x on consensus — cheap for a reason
dividend suspended (2025) — cash directed to debt, not payouts
~9% return on invested capital — thin for the risk
xvary composite: 31/100 — weak
What they do
Jack in the Box runs and franchises fast-food burger restaurants, with 2,136 locations and most of them operated by franchisees.
This is a franchise machine, not just a burger chain. Jack in the Box has 1,986 franchised stores out of 2,136 total units, so other people put up much of the restaurant capital while the company collects fees. You also get density where it matters: California and Texas alone hold 1,490 stores, or 70% of the system, which keeps the brand visible and the supply chain efficient.
How they make money
~$1.47B
fiscal 2025 revenue · down ~6.7% vs prior year (SEC; FY ended Sep 28, 2025)
Company restaurant sales
$0.63B
Franchise rental revenues
$0.37B
Franchise royalties and other
$0.23B
Franchise advertising & other services
$0.24B
The products that matter
quick-service hamburger restaurants
Jack in the Box restaurants
~$1.47B · entire revenue base
it's the whole ~$1.47B business, and revenue declined about 6.7% last fiscal year. that means every improvement plan has to show up here.
100% of revenue
Key numbers
$1.7B
long-term debt
That debt load is larger than the company's ~$1.47 billion fiscal revenue, which is the kind of mismatch that turns a bad quarter into a real problem.
n/a
trailing P/E (FY loss)
Fiscal 2025 was a net loss, so trailing P/E is not meaningful; forward multiples look low but embed a turnaround the market is not sure about.
-1.2%
operating margin (FY)
Operating margin is profit before interest and taxes; about negative 1.2% for fiscal 2025 means the operating line was slightly underwater for the year.
—
dividend
The company discontinued the dividend in 2025 to prioritize debt reduction—there is no regular yield today.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 4 — safer than 20% of stocks
- price stability 30 / 100
- long-term debt $1.7B (81% of capital)
- net margin (FY2025) negative — reported net loss for the fiscal year (not the same as the ~6.7% revenue decline)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
You invested $10,000 in JACK 3 years ago → it's now worth $2,830.
The index would have given you $13,880.
source: institutional data · total return
What just happened
missed EPS
Q4 fiscal 2025 adjusted EPS was $0.30, below the Zacks consensus of about $0.46. Revenue of $326.2M was slightly ahead of the consensus sales estimate.
Revenue was down 6.6% vs. prior year (from $349.3M). Jack in the Box system same-store sales fell 7.4% in the quarter (down 4.2% for the full fiscal year). Translation: earnings missed, and traffic was still weak.
$326M
revenue
$0.30
adj. EPS
-7.4%
Q4 same-store sales
the number that mattered
The key number was the 7.4% same-store sales drop in the quarter, because one quarter of EPS versus estimates matters less than customers visiting less often.
-
jack in the box has completed the sale of the del taco chain.in december, yadav enterprises paid $119 million to acquire the roughly 575-unit quickservice concept. jack had purchased del taco less than four years ago for $585 million, including debt, but same-store sales there have been declining for nearly the past two years. selling the business has freed up cash for debt reduction and advanced the company’s shift toward a simpler, asset-light business model.
-
the company still has work to do at the flagship chain.jack in the box too has struggled through an extended period of soft sales, with trends getting steadily weaker over the course of fiscal 2025.
-
system-wide comps for the final quarter, which ended on september 28th, fell 7.4%.same-store sales probably remained in negative territory through the december period, but ought to stabilize, with a flat comparison likely for the full fiscal year. the backdrop for quickservice restaurants may well remain challenging, though recent initiatives to implement additional training and supervision, a shift toward more-value oriented marketing strategies, and promotional events surrounding the chain’s 75th anniversary ought to provide a lift.
-
we are cutting our earnings estimates for fiscal 2026. (note that our presentation excludes del taco as of the start of the fiscal year.) adjusted ebitda is expected to finish between $225 million and $240 million, versus $271 million for the combined company in 2025.
-
interest costs should decline a bit, and savings from the streamlining of general and administrative costs ought to build as the year progresses.
source: company earnings report, 2026
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What could go wrong
the #1 risk is too much debt for a shrinking revenue base.
high
leveraged balance sheet
long-term debt is $1.7B, equal to 81% of capital. that's a lot of leverage for a company with a C+ balance sheet and weak price stability.
the debt load is more than four times the company's ~$400M market value.
high
shrinking sales base
revenue was ~$1.47B last fiscal year, down ~6.7%, and some outlooks see a smaller standalone Jack revenue base after Del Taco—worth tracking versus consensus.
if the business trends toward $1B of revenue, today's low multiple is not a bargain. it's the market doing math.
med
dividend pressure
the dividend is suspended—there is no yield to clip today. the question is whether cash goes to debt, ops, or eventually returns to shareholders.
income-focused holders need a different thesis now; total return depends on turnaround execution and balance-sheet repair.
med
institutional hesitation
3q2025 showed 80 institutional buyers versus 102 sellers. that's not a collapse, but it does mean the larger holders were net leaning away.
when a fragile stock loses sponsorship, volatility tends to do the talking.
combined, these risks hit the same pressure points: revenue durability, balance-sheet flexibility, and confidence in the dividend.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
revenue stabilization
~$1.47B of revenue fell ~6.7% last fiscal year. if that decline slows post-restructuring, the whole story changes.
risk
debt versus equity value
~$1.7B of long-term debt against a market cap recently near ~$190M is the ratio to keep on your screen. leverage is the first thing the market sees.
calendar
next operating update
this page is thin on fresh segment detail. the next earnings report needs to answer a simple question: are sales still shrinking, or finally leveling out.
trend
institutional flow
80 buyers versus 102 sellers in 3q2025 tells you the stock has not won back broad sponsorship yet. you want to see that gap narrow.
Analyst rankings
earnings predictability
75 / 100
in human-speak, the business is more predictable than the share price. operations are not chaos, but the balance sheet makes investors nervous.
risk rank
4
safer than only 20% of stocks. translated: this sits in the riskier part of the market.
price stability
30 / 100
the stock has not behaved like a sleepy dividend name. it has behaved like a stressed small-cap.
source: institutional data
Institutional activity
80 buyers vs. 102 sellers in 3q2025. total institutional holdings: 19.1M shares.
source: institutional data
Price targets
3-5 year target range
$15
$51
$9.84
current price (indicative)
$33
target midpoint · analyst dispersion is wide—recheck live targets before using the bar
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