TXRH Texas Roadhouse, Inc. - Common Stock
About Texas Roadhouse, Inc. - Common Stock Company overview from Wikipedia
Texas Roadhouse is an American steakhouse chain that specializes in steaks in a Texan and Southwestern cuisine style. It is a subsidiary of Texas Roadhouse Inc, which has two other concepts and is headquartered in Louisville, Kentucky. As of August 2025, the chain operates about 800 locations in 49 U.S. states and 70 international locations in 11 countries.
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Texas Roadhouse is an American steakhouse chain that specializes in steaks in a Texan and Southwestern cuisine style. It is a subsidiary of Texas Roadhouse Inc, which has two other concepts (Bubba's 33 and Jaggers) and is headquartered in Louisville, Kentucky. As of August 2025, the chain operates about 800 locations in 49 U.S. states and 70 international locations in 11 countries.
History
Texas Roadhouse was established in 1993, at the Green Tree Mall in Clarksville, Indiana, across the Ohio River from Louisville, Kentucky. Founder W. Kent Taylor, a Louisville native, lived in Colorado and worked at nightclubs and restaurants there. In 1990, Taylor returned to his hometown of Louisville, Kentucky. He began work as a Kentucky Fried Chicken manager and had dreams to open a Colorado-themed restaurant. Former Kentucky governor John Y. Brown, Jr. helped Taylor fulfill his dream by backing him with $80,000. In 1991, Taylor opened Buckhead Mountain Grill. Taylor was his own executive chef. Brown invested more money and wanted to open a second store in Clarksville, but complications in the partnership caused it to fall apart.
Brown had elected to pursue another steak concept without Taylor, leaving Taylor with the decision to either stay committed to Buckhead or attempt to start a new business. He decided to go with the latter; however, he had trouble finding investors to help him launch the new concept. Taylor was turned down by many potential investors. Finally, Taylor met a potential investor while he was managing at Buckhead. Dr. John Rhodes became interested in Taylor's proposition of the new steak restaurant concept that Taylor showed to him through drawings on loose papers and cocktail napkins. Taylor was able to convince Dr. Rhodes and two of his colleagues to invest $100,000 each in 1992. A year later on February 17, 1993, the first Texas Roadhouse in Clarksville, Indiana opened its doors. In 1994, Taylor sold his shares in Buckhead Mountain Grill to focus solely on Texas Roadhouse.
In 1993, the second Texas Roadhouse opened in Gainesville, Florida. In 1994, three additional restaurants opened in Cincinnati; Ohio, Clearwater, Florida; and Sarasota, Florida. These three locations would all close because of poor building locations. Kent Taylor was forced to decide how to continue the success of the first two restaurants in Clarksville and Gainesville while dealing with the failures of the three new stores. Taylor decided that better in-store training, building designs, and restaurant decor would help improve Roadhouse's growth. Taylor hired a promising chef who worked in Louisville, Kentucky, Jim Broyles. Broyles was hired as the Director of Food and Beverages and transformed the way Roadhouse prepared and served food. The chain expanded rapidly in the late 1990s, and by the end of 1999, 67 restaurants had been opened. In 2004, Roadhouse became a public company, listing under the symbol "TXRH" on Nasdaq at a price of $17.50 per share and raising $159.3 million. In September 2011, Texas Roadhouse started their international expansion with the first international location in Dubai in the United Arab Emirates. During the COVID-19 Pandemic in 2020, Taylor donated his entire salary and bonus, totaling over $800,000, to his employees.
After struggling with unbearable tinnitus, Taylor died by suicide on March 18, 2021, at the age of 65. It was announced that Jerry Morgan would take over the role of president and CEO.
Taylor's memoir, Made From Scratch: The Legendary Success Story of Texas Roadhouse, was published posthumously.
In April 2025, Texas Roadhouse became the largest casual-dining restaurant chain in the United States according to data from Technomic on the Top 500 largest restaurant chains in the U.S. surpassing previous leader Olive Garden.
Finance
The key financial trends for Texas Roadhouse, Inc. are as follows, based on fiscal years ending December 31:
In the first quarter of 2025, the company posted a 10% year-over-year rise in revenue to nearly $1.5 billion, with earnings per share of $1.70, and same‑store sales growth of 3.5%, outperforming analysts' expectations.
Animal welfare and sustainability
According to Texas Roadhouse Corporate Sustainability Report 2023, Texas Roadhouse is committed to audits by independent third-party auditors ensuring that they adhere to FDA guidelines and also "ensure that the animals are treated with respect and cared for in accordance with the principles of the Farm Animal Welfare Committee (FAWC) and under the guidance of the “Five Freedoms” of animal welfare".
Operations and marketing
Texas Roadhouse's mission statement is "Legendary Food, Legendary Service". Their mascot is an armadillo named Andy. The company's restaurants offer entertainment in the form of line dancing. The waiters, waitresses and hosts perform these dances throughout the night. The employees participate in intercompany competitions: bartenders compete in "The Real Bar" competition, and meat cutters in the annual "Meat Hero Competition".
The Roadhouse Corporation supports the homebuilding programs Habitat for Humanity International and Homes For Our Troops. The company also sponsors a road cycling team of about 20 cyclists. Texas Roadhouse is a major supporter of Special Olympics.
Each restaurant had a table called "Willie's Corner", with pictures and memorabilia of Willie Nelson. In 2002, Nelson signed a deal to become an official partner of Texas Roadhouse. Since then, Nelson has heavily promoted the chain, including a special on Food Network. Willie Nelson is the owner of Texas Roadhouse in South Austin, TX.
Cuisine
Texas Roadhouse serves Texan and American cuisine, including steak, ribs, chicken, and seafood.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
TXRH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
TXRH Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| June 2, 2026 | $0.7500 |
| March 17, 2026 | $0.7500 |
| Dec. 2, 2025 | $0.6800 |
| Sept. 2, 2025 | $0.6800 |
| June 3, 2025 | $0.6800 |
| March 18, 2025 | $0.6800 |
| Dec. 10, 2024 | $0.6100 |
| Sept. 4, 2024 | $0.6100 |
| June 12, 2024 | $0.6100 |
| March 12, 2024 | $0.6100 |
| Dec. 5, 2023 | $0.5500 |
| Sept. 5, 2023 | $0.5500 |
| June 6, 2023 | $0.5500 |
| March 7, 2023 | $0.5500 |
| Dec. 6, 2022 | $0.4600 |
| Sept. 6, 2022 | $0.4600 |
| June 7, 2022 | $0.4600 |
| March 8, 2022 | $0.4600 |
| Dec. 7, 2021 | $0.4000 |
| Sept. 7, 2021 | $0.4000 |
TXRH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 6 17.6%
- Buy 13 38.2%
- Hold 15 44.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
23 analysts · 2026-08-19Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.85 | $1.86 | -0.01% |
| March 31, 2026 | $1.87 | $1.85 | 0.02% |
| Dec. 31, 2025 | $1.28 | $1.54 | -0.26% |
| Sept. 30, 2025 | $1.25 | $1.31 | -0.06% |
| June 30, 2025 | $1.86 | $1.95 | -0.09% |
| March 31, 2025 | $1.70 | $1.80 | -0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TXRH | $11.03B | 27.4 | 9.4% | 7.0% | 29.4% | — |
| YUM | — | 27.3 | 8.8% | 19.0% | -20.8% | — |
| CMG | — | 32.5 | 5.4% | 12.9% | 48.3% | — |
| QSR | $23.63B | 29.0 | 12.2% | 11.4% | 31.9% | — |
| DRI | $23.27B | 19.6 | 9.4% | 9.1% | 56.3% | 20.3% |
| ARMK | $10.25B | 32.0 | 6.3% | 1.8% | 10.6% | — |
| DPZ | $14.31B | 24.2 | 5.0% | 12.2% | -15.3% | 40.0% |
| EAT | $7.86B | 21.2 | 21.9% | 7.1% | 152.5% | — |
| BROS | — | 95.7 | 27.9% | 4.9% | 13.1% | — |
| CAVA | $6.99B | 111.4 | 22.4% | 5.4% | 8.3% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.88B | $5.37B | $4.63B | $4.01B | $3.46B | $2.40B | $2.76B | $2.46B | $2.22B | $1.99B | $1.81B | $1.58B | |
| SG&A Expense | $227M | $223M | $198M | $173M | $157M | $120M | $149M | $136M | $123M | $111M | $92M | $82M | |
| Operating Expenses | $5.40B | $4.86B | $4.28B | $3.69B | $3.17B | $2.37B | $2.54B | $2.27B | $2.03B | $1.82B | $1.66B | $1.45B | |
| Operating Income | $475M | $517M | $354M | $320M | $297M | $24M | $212M | $188M | $186M | $172M | $145M | $130M | |
| Interest Expense | · | · | · | · | · | · | · | · | $2M | $1M | $2M | $2M | |
| Pretax Income | $481M | $524M | $358M | $321M | $293M | $19M | $214M | $189M | $186M | $172M | $144M | $130M | |
| Income Tax | $66M | $80M | $45M | $44M | $40M | $-16M | $32M | $24M | $49M | $51M | $43M | $39M | |
| Net Income | $414M | $444M | $314M | $278M | $253M | $31M | $174M | $158M | $132M | $116M | $97M | $91M | |
| EPS (Basic) | $6.11 | $6.50 | $4.56 | $3.99 | $3.52 | $0.45 | $2.47 | $2.21 | $1.85 | $1.64 | $1.38 | $1.25 | |
| EPS (Diluted) | $6.10 | $6.47 | $4.54 | $3.97 | $3.50 | $0.45 | $2.46 | $2.20 | $1.84 | $1.63 | $1.37 | $1.23 | |
| Shares (Basic) | 66,324,000 | 66,752,000 | 66,893,000 | 67,643,000 | 69,709,000 | 69,438,000 | 70,509,000 | 71,467,000 | 70,989,000 | 70,396,000 | 70,032,000 | 69,719,000 | |
| Shares (Diluted) | 66,511,000 | 67,011,000 | 67,149,000 | 67,920,000 | 70,098,000 | 69,893,000 | 70,916,000 | 71,964,000 | 71,527,000 | 71,052,000 | 70,747,000 | 70,608,000 | |
| EBITDA | $681M | $695M | $507M | $457M | $424M | $142M | $328M | $289M | $280M | $255M | $214M | $190M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $135M | $245M | $104M | $174M | $336M | $363M | $108M | $210M | $151M | $113M | $59M | $86M | |
| Receivables | $215M | $193M | $175M | $150M | $161M | $98M | $99M | $92M | $76M | $56M | $45M | $34M | |
| Inventory | $46M | $41M | $38M | $38M | $32M | $22M | $20M | $19M | $16M | $16M | $16M | $14M | |
| Prepaid Expense | · | · | · | · | · | · | · | · | $13M | · | $11M | $11M | |
| Current Assets | $451M | $517M | $356M | $397M | $564M | $511M | $248M | $345M | $257M | $200M | $134M | $148M | |
| PP&E (Net) | $1.80B | $1.62B | $1.47B | $1.27B | $1.16B | $1.09B | $1.06B | $957M | $912M | $830M | $751M | $650M | |
| PP&E (Gross) | $3.18B | $2.84B | $2.55B | $2.24B | $2.03B | $1.85B | $1.74B | $1.56B | $1.44B | $1.29B | $1.15B | $997M | |
| Accum. Depreciation | $1.38B | $1.22B | $1.08B | $968M | $869M | $764M | $679M | $602M | $528M | $457M | $396M | $347M | |
| Goodwill | $242M | $170M | $170M | $149M | $127M | $127M | $125M | $123M | $121M | $117M | $117M | $117M | |
| Intangibles | $18M | $1M | $3M | $6M | $2M | $2M | $1M | $2M | $3M | $4M | $5M | $6M | |
| Other Non-current Assets | $155M | $116M | $95M | $74M | $79M | $66M | $53M | $42M | $38M | $29M | $26M | $23M | |
| Total Assets | $3.55B | $3.19B | $2.79B | $2.53B | $2.51B | $2.33B | $1.98B | $1.47B | $1.33B | $1.18B | $1.03B | $943M | |
| Accounts Payable | $163M | $145M | $132M | $106M | $95M | $67M | $62M | $62M | $58M | $51M | $51M | $44M | |
| Current Liabilities | $909M | $828M | $745M | $652M | $602M | $506M | $417M | $385M | $330M | $280M | $257M | $216M | |
| Capital Leases | $943M | $826M | $743M | $678M | $623M | $572M | $539M | · | · | · | · | · | |
| Deferred Tax | $15M | $8M | $23M | $21M | $12M | $3M | $23M | $17M | $5M | $12M | $6M | $6M | |
| Other Non-current Liabilities | $192M | $145M | $115M | $89M | $94M | $103M | $66M | $50M | $42M | $34M | $28M | $23M | |
| Total Liabilities | $2.07B | $1.82B | $1.64B | $1.50B | $1.44B | $1.38B | $1.05B | $509M | $479M | $422M | $356M | $328M | |
| Long-term Debt | · | · | · | · | · | $240M | · | · | · | · | $26M | $51M | |
| Total Debt | · | · | $0 | $50M | $100M | $240M | · | · | · | · | $26M | $51M | |
| Common Stock | $66.0K | $67.0K | $67.0K | $67.0K | $69.0K | $70.0K | $69.0K | $72.0K | $71.0K | $71.0K | $70.0K | $70.0K | |
| Retained Earnings | $1.46B | $1.36B | $1.14B | $999M | $944M | $782M | $776M | $688M | $602M | $531M | $469M | $419M | |
| AOCI | $0 | · | · | · | · | $-106.0K | $-225.0K | $-228.0K | $-39.0K | $-194.0K | $-109.0K | $-782.0K | |
| Stockholders' Equity | $1.46B | $1.36B | $1.14B | $1.01B | $1.06B | $928M | $916M | $946M | $839M | $750M | $670M | $608M | |
| Liabilities + Equity | $3.55B | $3.19B | $2.79B | $2.53B | $2.51B | $2.33B | $1.98B | $1.47B | $1.33B | $1.18B | $1.03B | $943M | |
| Shares Outstanding | 65,943,730 | 66,574,626 | 66,789,464 | 66,973,311 | 69,382,418 | 69,561,861 | 69,400,252 | 71,617,510 | 71,168,897 | 70,619,737 | 70,091,203 | 69,628,781 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $207M | $178M | $153M | $137M | $127M | $118M | $116M | $101M | $93M | $83M | $70M | $59M | |
| Stock-based Comp | $48M | $47M | $34M | $37M | $38M | $29M | $36M | $34M | $27M | $26M | $23M | $15M | |
| Deferred Tax | $7M | $-14M | $3M | $9M | $9M | $-20M | $6M | $12M | $-5M | $6M | $411.0K | $-480.0K | |
| Amort. of Intangibles | $6M | $2M | $3M | $3M | $751.0K | $563.0K | $725.0K | $741.0K | $922.0K | $1M | $1M | $2M | |
| Other Non-cash | $54M | $98M | $61M | $59M | $50M | $72M | $42M | $47M | $39M | $21M | $34M | $27M | |
| Operating Cash Flow | $730M | $754M | $565M | $512M | $469M | $230M | $374M | $353M | $286M | $257M | $228M | $192M | |
| CapEx | $388M | $354M | $347M | $246M | $201M | $154M | $214M | $156M | $162M | $165M | $173M | $125M | |
| Investing Cash Flow | $-483M | $-337M | $-367M | $-264M | $-195M | $-161M | $-215M | $-158M | $-178M | $-165M | $-173M | · | |
| Stock Repurchased | $150M | $80M | $50M | $213M | $52M | $13M | $140M | · | · | $4M | $11M | $43M | |
| Net Stock Activity | $-150M | $-80M | $-50M | $-213M | $-52M | $-13M | $-140M | · | · | $-4M | $-11M | $-43M | |
| Dividends Paid | $180M | $163M | $147M | $124M | $84M | $25M | $102M | $69M | $58M | $52M | $46M | $31M | |
| Financing Cash Flow | $-358M | $-276M | $-267M | $-410M | $-301M | $186M | $-262M | $-136M | $-70M | $-39M | $-82M | · | |
| Net Change in Cash | $-111M | $141M | $-70M | $-162M | $-28M | $255M | $-102M | $59M | $38M | $54M | $-27M | · | |
| Taxes Paid | $75M | $87M | $40M | $26M | $40M | $4M | $20M | $21M | $50M | $43M | $40M | $34M | |
| Free Cash Flow | $342M | $399M | $218M | $266M | $268M | $76M | $160M | $197M | $125M | $92M | $54M | $66M | |
| Levered FCF | · | · | · | · | · | · | · | · | $124M | $91M | $53M | $65M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 8.1% | 9.6% | 7.6% | 8.0% | 8.6% | 0.99% | 7.7% | 7.6% | 8.4% | 8.6% | 8.0% | 8.2% | |
| Net Margin | 7.0% | 8.3% | 6.8% | 6.7% | 7.1% | 1.3% | 6.3% | 6.4% | 5.9% | 6.1% | 5.6% | 5.8% | |
| Pretax Margin | 8.2% | 9.8% | 7.7% | 8.0% | 8.5% | 0.80% | 7.8% | 7.7% | 8.4% | 8.6% | 8.0% | 8.2% | |
| EBITDA Margin | 11.6% | 12.9% | 10.9% | 11.4% | 12.2% | 5.9% | 11.9% | 11.8% | 12.6% | 12.8% | 11.8% | 12.0% | |
| ROA | 12.3% | 14.6% | 11.8% | 10.7% | 10.1% | 1.5% | 10.1% | 11.3% | 10.5% | 10.9% | 10.2% | 10.0% | |
| ROE | 29.4% | 35.5% | 29.1% | 26.1% | 24.7% | 3.4% | 18.7% | 17.7% | 16.6% | 17.0% | 15.8% | 15.2% | |
| ROIC | 28.0% | 32.2% | 27.1% | 26.0% | 22.2% | 3.7% | 19.6% | 17.3% | 16.4% | 16.1% | 14.6% | 13.9% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 0.6 | 0.5 | 0.6 | 0.9 | 1.0 | 0.6 | 0.9 | 0.8 | 0.7 | 0.5 | 0.7 | |
| Quick Ratio | 0.4 | 0.5 | 0.4 | 0.5 | 0.8 | 0.9 | 0.5 | 0.8 | 0.7 | 0.6 | 0.4 | 0.6 | |
| Debt / Equity | · | · | 0.0 | 0.0 | 0.1 | 0.3 | · | · | · | · | 0.0 | 0.1 | |
| LT Debt / Equity | · | · | 0.0 | 0.0 | 0.1 | 0.2 | · | · | · | · | 0.0 | 0.1 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 118.1 | 137.0 | 73.8 | 62.6 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.7 | 1.8 | 1.7 | 1.6 | 1.4 | 1.1 | 1.6 | 1.8 | 1.8 | 1.8 | 1.8 | 1.7 | |
| Receivables Turnover | 28.8 | 29.2 | 28.4 | 25.8 | 26.7 | 24.3 | 28.8 | 29.1 | 33.5 | 39.2 | 45.5 | 53.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 9.4% | 16.0% | 15.4% | 15.9% | 44.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.6% | 15.8% | 24.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 19.6% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -5.7% | 42.5% | 14.4% | 13.4% | 677.8% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 15.4% | 22.7% | 116.1% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 68.4% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -6.8% | 41.7% | 13.0% | 9.6% | 710.5% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 14.3% | 20.6% | 115.7% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 67.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 48.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.88B | $5.37B | $4.63B | $4.01B | $3.46B | $2.40B | $2.76B | $2.46B | $2.22B | $1.99B | $1.81B | $1.58B | |
| Net Income TTM | $414M | $444M | $314M | $278M | $253M | $31M | $174M | $158M | $132M | $116M | $97M | $91M | |
| Market Cap | $11.03B | $12.01B | $8.23B | $6.31B | $6.22B | $5.49B | $3.91B | $4.07B | $3.85B | $3.50B | $2.53B | $2.35B | |
| Enterprise Value | · | · | $8.12B | $6.18B | $5.98B | $5.37B | · | · | · | · | $2.49B | $2.32B | |
| P/E | 27.4 | 27.9 | 27.1 | 23.7 | 25.6 | 175.5 | 22.9 | 25.8 | 29.4 | 30.4 | 26.3 | 27.5 | |
| P/S | 1.9 | 2.2 | 1.8 | 1.6 | 1.8 | 2.3 | 1.4 | 1.7 | 1.7 | 1.8 | 1.4 | 1.5 | |
| P/B | 7.5 | 8.8 | 7.2 | 6.2 | 5.9 | 5.9 | 4.3 | 4.3 | 4.6 | 4.7 | 3.8 | 3.9 | |
| P / Tangible Book | 9.2 | 10.1 | 8.5 | 7.3 | 6.7 | 6.9 | · | · | · | · | · | · | |
| P / Cash Flow | 15.1 | 15.9 | 14.6 | 12.3 | 13.3 | 23.8 | 10.4 | 11.5 | 13.4 | 13.6 | 11.1 | 12.3 | |
| P / FCF | 32.2 | 30.1 | 37.7 | 23.7 | 23.2 | 72.2 | 24.4 | 20.7 | 30.9 | 37.9 | 46.4 | 35.5 | |
| EV / EBITDA | · | · | 16.0 | 13.5 | 14.1 | 37.9 | · | · | · | · | 11.6 | 12.2 | |
| EV / FCF | · | · | 37.3 | 23.3 | 22.3 | 70.6 | · | · | · | · | 45.8 | 35.0 | |
| EV / Revenue | · | · | 1.8 | 1.5 | 1.7 | 2.2 | · | · | · | · | 1.4 | 1.5 | |
| Dividend Yield | 1.6% | 1.4% | 1.8% | 2.0% | 1.4% | 0.45% | 2.6% | 1.7% | 1.5% | 1.5% | 1.8% | 1.3% | |
| Earnings Yield | 3.6% | 3.6% | 3.7% | 4.2% | 3.9% | 0.57% | 4.4% | 3.9% | 3.4% | 3.3% | 3.8% | 3.6% | |
| Payout Ratio | 43.5% | 36.6% | 46.9% | 46.0% | 34.1% | 80.0% | 58.7% | 43.3% | 44.2% | 43.2% | 45.6% | 34.4% | |
| Annual Payout | $180M | $163M | $147M | $124M | $84M | $25M | $102M | $69M | $58M | $52M | $46M | $31M |
Income Statement 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.68B | $1.63B | $1.48B | $1.44B | $1.45B | $1.44B | $1.27B | $1.34B | $1.32B | $1.16B | $1.12B | $1.17B | $1.17B | $1.01B | $993M | |
| SG&A Expense | $72M | $61M | $54M | $54M | $56M | $57M | $55M | $58M | $53M | $50M | $48M | $51M | $50M | $40M | $43M | |
| Operating Expenses | $1.54B | $1.49B | $1.39B | $1.34B | $1.31B | $1.30B | $1.17B | $1.20B | $1.19B | $1.08B | $1.05B | $1.08B | $1.07B | $941M | $918M | |
| Operating Income | $143M | $146M | $97M | $97M | $135M | $139M | $102M | $143M | $133M | $84M | $74M | $95M | $101M | $69M | $75M | |
| Pretax Income | $144M | $147M | $98M | $98M | $136M | $141M | $104M | $145M | $135M | $84M | $74M | $97M | $103M | $70M | $75M | |
| Income Tax | $19M | $21M | $11M | $13M | $20M | $22M | $17M | $22M | $19M | $9M | $9M | $12M | $14M | $8M | $11M | |
| Net Income | $125M | $126M | $87M | $85M | $116M | $119M | $87M | $123M | $116M | $75M | $66M | $84M | $89M | $66M | $64M | |
| EPS (Basic) | $1.86 | $1.87 | $1.27 | $1.25 | $1.71 | $1.74 | $1.27 | $1.80 | $1.69 | $1.08 | $0.96 | $1.23 | $1.29 | $0.90 | $0.93 | |
| EPS (Diluted) | $1.85 | $1.87 | $1.28 | $1.25 | $1.70 | $1.73 | $1.26 | $1.79 | $1.69 | $1.09 | $0.95 | $1.22 | $1.28 | $0.89 | $0.93 | |
| Shares (Basic) | 65,696,000 | 65,921,000 | -49,000 | 66,358,000 | 66,485,000 | -133,580,000 | 66,704,000 | 66,785,000 | 66,843,000 | -133,876,000 | 66,779,000 | 66,974,000 | 67,016,000 | -135,983,000 | 66,886,000 | |
| Shares (Diluted) | 65,920,000 | 66,120,000 | -53,000 | 66,476,000 | 66,714,000 | -134,081,000 | 66,943,000 | 67,044,000 | 67,105,000 | -134,387,000 | 67,014,000 | 67,229,000 | 67,293,000 | -136,502,000 | 67,159,000 | |
| EBITDA | $201M | $203M | · | $150M | $184M | · | $147M | $186M | $175M | · | $113M | $133M | $137M | · | $109M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $202M | $215M | $135M | $108M | $221M | $245M | $189M | $197M | $213M | · | $69M | $107M | $156M | · | $185M | |
| Receivables | $74M | $54M | $215M | $61M | $51M | $193M | $52M | $69M | $54M | · | $49M | $61M | $42M | · | $38M | |
| Inventory | $50M | $46M | $46M | $45M | $44M | $41M | $40M | $41M | $38M | · | $37M | $38M | $37M | · | $33M | |
| Current Assets | $362M | $362M | $451M | $249M | $353M | $517M | $307M | $333M | $344M | · | $181M | $233M | $269M | · | $277M | |
| PP&E (Net) | $1.89B | $1.83B | $1.80B | $1.79B | $1.66B | $1.62B | $1.57B | $1.52B | $1.50B | · | $1.43B | $1.36B | $1.31B | · | $1.24B | |
| PP&E (Gross) | · | · | $3.18B | · | · | $2.84B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $1.46B | $1.42B | $1.38B | $1.33B | $1.26B | $1.22B | $1.18B | $1.16B | $1.12B | · | $1.05B | $1.02B | $995M | · | $943M | |
| Goodwill | $275M | $275M | $242M | $230M | $219M | $170M | $170M | $170M | $170M | $170M | $170M | $170M | $170M | $149M | $149M | |
| Intangibles | $26M | $29M | $18M | $13M | $16M | $1M | $2M | $2M | $3M | · | $4M | $5M | $6M | $6M | $6M | |
| Other Non-current Assets | $180M | $161M | $155M | $144M | $121M | $116M | $113M | $107M | $98M | · | $87M | $84M | $76M | · | $69M | |
| Total Assets | $3.67B | $3.57B | $3.55B | $3.27B | $3.19B | $3.19B | $2.91B | $2.86B | $2.83B | · | $2.55B | $2.51B | $2.47B | · | $2.37B | |
| Accounts Payable | $179M | $170M | $163M | $141M | $156M | $145M | $131M | $137M | $140M | · | $126M | $121M | $114M | · | $99M | |
| Current Liabilities | $791M | $789M | $909M | $689M | $752M | $828M | $628M | $644M | $686M | · | $561M | $572M | $588M | · | $516M | |
| Capital Leases | $1.00B | $972M | $943M | $904M | $878M | $826M | $803M | $780M | $767M | · | $730M | $713M | $692M | · | $673M | |
| Deferred Tax | $22M | $21M | $15M | $10M | $3M | $8M | $12M | $18M | $23M | · | $23M | $22M | $24M | · | $17M | |
| Other Non-current Liabilities | $215M | $195M | $192M | $179M | $153M | $145M | $139M | $133M | $122M | · | $103M | $101M | $92M | · | $84M | |
| Total Liabilities | $2.09B | $2.04B | $2.07B | $1.79B | $1.80B | $1.82B | $1.59B | $1.58B | $1.61B | · | $1.43B | $1.42B | $1.40B | · | $1.37B | |
| Total Debt | $50M | $50M | · | · | · | · | · | · | · | · | $0 | · | · | · | $75M | |
| Common Stock | $66.0K | $66.0K | $66.0K | $66.0K | $66.0K | $67.0K | $67.0K | $67.0K | $67.0K | · | $67.0K | $67.0K | $67.0K | · | $67.0K | |
| Retained Earnings | $1.56B | $1.52B | $1.46B | $1.46B | $1.38B | $1.36B | $1.31B | $1.26B | $1.21B | · | $1.10B | $1.08B | $1.05B | · | $970M | |
| AOCI | $-90.0K | $-54.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $1.56B | $1.52B | $1.46B | $1.46B | $1.38B | $1.36B | $1.31B | $1.26B | $1.21B | · | $1.10B | $1.08B | $1.06B | · | $978M | |
| Liabilities + Equity | $3.67B | $3.57B | $3.55B | $3.27B | $3.19B | $3.19B | $2.91B | $2.86B | $2.83B | · | $2.55B | $2.51B | $2.47B | · | $2.37B | |
| Shares Outstanding | 65,585,589 | 65,825,744 | 65,943,730 | 66,228,169 | 66,403,351 | 66,574,626 | 66,713,823 | 66,727,898 | 66,846,291 | · | 66,783,010 | 66,843,456 | 67,000,306 | · | 66,914,586 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $58M | $57M | $54M | $53M | $49M | $49M | $45M | $43M | $41M | $40M | $39M | $37M | $36M | $35M | $34M | |
| Stock-based Comp | $13M | $13M | $12M | $13M | $13M | $14M | $15M | $9M | $10M | $9M | $9M | $9M | $8M | $8M | $10M | |
| Deferred Tax | $2M | $6M | $5M | $8M | $-4M | $-4M | $-5M | $-4M | $202.0K | $408.0K | $940.0K | $-1M | $3M | $4M | $1M | |
| Other Non-cash | · | $56M | · | · | $65M | · | · | · | $76M | · | · | · | $55M | · | · | |
| Operating Cash Flow | $180M | $259M | $220M | $144M | $238M | $238M | $139M | $134M | $243M | $174M | $103M | $99M | $189M | $117M | $96M | |
| CapEx | $99M | $80M | $89M | $129M | $77M | $108M | $91M | $78M | $78M | $103M | $89M | $88M | $67M | $72M | $66M | |
| Investing Cash Flow | $-95M | $-147M | $-99M | $-125M | $-156M | $-100M | $-91M | $-71M | $-75M | $-94M | $-88M | $-83M | $-103M | $-68M | $-56M | |
| Stock Repurchased | $44M | $28M | $50M | $40M | $50M | $35M | $10M | $26M | $9M | $5M | $12M | $23M | $10M | $0 | $0 | |
| Net Stock Activity | · | $-28M | · | · | $-50M | · | $-10M | $-26M | $-9M | · | $-12M | $-23M | $-10M | · | · | |
| Dividends Paid | $49M | $49M | $45M | $45M | $45M | $41M | $41M | $41M | $41M | $37M | $37M | $37M | $37M | $31M | $31M | |
| Financing Cash Flow | $-97M | $-32M | $-95M | $-88M | $-106M | $-82M | $-56M | $-78M | $-60M | $-46M | $-53M | $-65M | $-103M | $-60M | $-35M | |
| Net Change in Cash | $-12M | $80M | $27M | $-69M | $-24M | $56M | $-8M | $-16M | $109M | $35M | $-38M | $-49M | $-18M | $-11M | $5M | |
| Taxes Paid | $16M | $2M | $13M | $7M | $2M | $26M | $26M | $35M | $497.0K | $10M | $11M | $19M | $965.0K | $6M | $6M | |
| Free Cash Flow | · | $179M | · | · | $160M | · | · | · | $166M | · | · | · | $122M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 8.5% | 9.0% | · | 6.8% | 9.3% | · | 8.0% | 10.7% | 10.1% | · | 6.6% | 8.2% | 8.6% | · | 7.6% | |
| Net Margin | 7.4% | 7.7% | · | 5.9% | 8.0% | · | 6.8% | 9.2% | 8.8% | · | 5.9% | 7.0% | 7.4% | · | 6.3% | |
| Pretax Margin | 8.6% | 9.0% | · | 6.8% | 9.4% | · | 8.2% | 10.8% | 10.2% | · | 6.6% | 8.3% | 8.8% | · | 7.6% | |
| EBITDA Margin | 12.0% | 12.4% | · | 10.4% | 12.7% | · | 11.5% | 13.9% | 13.2% | · | 10.1% | 11.3% | 11.7% | · | 11.0% | |
| ROA | 3.6% | 3.7% | · | 2.8% | · | · | 3.2% | 4.6% | 4.4% | · | 2.7% | 3.4% | 3.5% | · | 2.6% | |
| ROE | 8.3% | 8.7% | · | 6.1% | · | · | 7.2% | 10.5% | 10.2% | · | 6.3% | 8.1% | 8.3% | · | 6.1% | |
| ROIC | 7.7% | 8.0% | · | 5.8% | · | · | 6.5% | 9.6% | 9.5% | · | 5.9% | 7.7% | 8.2% | · | 6.1% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 0.5 | · | 0.4 | · | · | 0.5 | 0.5 | 0.5 | · | 0.3 | 0.4 | 0.5 | · | 0.5 | |
| Quick Ratio | 0.3 | 0.3 | · | 0.2 | · | · | 0.4 | 0.4 | 0.4 | · | 0.2 | 0.3 | 0.3 | · | 0.4 | |
| Debt / Equity | 0.0 | 0.0 | · | · | · | · | · | · | · | · | 0.0 | · | · | · | 0.1 | |
| LT Debt / Equity | 0.0 | 0.0 | · | · | · | · | · | · | · | · | 0.0 | · | · | · | 0.1 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | · | 0.5 | · | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | |
| Receivables Turnover | 24.1 | 31.2 | · | 25.3 | · | · | 25.1 | 20.8 | 27.7 | · | 25.9 | 22.1 | 27.1 | · | 22.0 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.26B | $6.03B | · | $5.67B | $5.38B | · | $5.06B | $4.96B | $4.79B | · | $4.46B | $4.36B | $4.18B | · | $3.87B | |
| Net Income TTM | $462M | $454M | · | $414M | $442M | · | $391M | $389M | $355M | · | $303M | $309M | $300M | · | $264M | |
| Market Cap | $12.67B | $10.87B | · | $11.00B | · | · | $11.71B | $11.45B | $10.18B | · | $6.32B | $7.31B | $7.12B | · | $5.75B | |
| Enterprise Value | $12.52B | $10.71B | · | · | · | · | · | · | · | · | $6.25B | · | · | · | $5.64B | |
| P/E | 28.3 | 24.7 | · | 27.4 | 26.2 | · | 30.9 | 30.4 | 29.6 | · | 21.6 | 24.3 | 24.4 | · | 22.4 | |
| P/S | 2.0 | 1.8 | · | 1.9 | · | · | 2.3 | 2.3 | 2.1 | · | 1.4 | 1.7 | 1.7 | · | 1.5 | |
| P/B | 8.1 | 7.2 | · | 7.5 | · | · | 9.0 | 9.1 | 8.4 | · | 5.7 | 6.7 | 6.7 | · | 5.9 | |
| P / Tangible Book | 10.1 | 9.0 | · | 9.0 | · | · | 10.3 | 10.5 | 9.8 | · | 6.8 | 8.0 | 8.1 | · | 7.0 | |
| P / Cash Flow | · | 42.0 | · | · | · | · | · | · | 41.8 | · | · | · | 37.7 | · | · | |
| P / FCF | · | 60.8 | · | · | · | · | · | · | 61.4 | · | · | · | 58.2 | · | · | |
| EV / EBITDA | 62.3 | 52.7 | · | · | · | · | · | · | · | · | 55.3 | · | · | · | 51.7 | |
| EV / FCF | · | 59.8 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 2.0 | 1.8 | · | · | · | · | · | · | · | · | 1.4 | · | · | · | 1.5 | |
| Earnings Yield | 3.5% | 4.0% | · | 3.6% | 3.8% | · | 3.2% | 3.3% | 3.4% | · | 4.6% | 4.1% | 4.1% | · | 4.5% | |
| Payout Ratio | · | 39.2% | · | · | 38.9% | · | · | · | 35.2% | · | · | · | 42.7% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-30 | 2025-07-01 | 2025-04-01 | 2024-12-31 | 2024-09-24 | |
|---|---|---|---|---|---|
| Revenue | $5.88B | — | — | $5.37B | — |
| Operating Margin % | 8.1% | — | — | 9.6% | — |
| Net Income | $414M | — | — | $444M | — |
| Diluted EPS | $6.10 | — | — | $6.47 | — |
Balance Sheet
| 2025-12-30 | 2025-07-01 | 2025-04-01 | 2024-12-31 | 2024-09-24 | |
|---|---|---|---|---|---|
| Current Ratio | 0.5 | — | — | 0.6 | — |
| Quick Ratio | 0.4 | — | — | 0.5 | — |
Cash Flow
| 2025-12-30 | 2025-07-01 | 2025-04-01 | 2024-12-31 | 2024-09-24 | |
|---|---|---|---|---|---|
| Free Cash Flow | $342M | — | — | $399M | — |
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Institutional owners (13F) 704 filers · $8.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 108 (+14 vs prior Q) | 67 (-1 vs prior Q) | 199 (-43 vs prior Q) | 249 (+51 vs prior Q) | +6.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Capital World Investors | $838,438,303 | 4,339,069 | 10.31% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $591,938,657 | 3,063,389 | 7.28% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $572,761,545 | 2,964,144 | 7.04% | Shares |
| ALLIANCEBERNSTEIN L.P. | $533,557,432 | 3,230,940 | 6.56% | Shares |
| STATE STREET CORP | $401,883,975 | 2,079,760 | 4.94% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $333,623,382 | 1,726,561 | 4.10% | Shares |
| FMR LLC | $282,965,037 | 1,464,395 | 3.48% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $208,521,007 | 1,078,826 | 2.56% | Shares |
| NORGES BANK | $204,464,392 | 1,058,140 | 2.51% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $191,994,487 | 993,606 | 2.36% | Shares |
| NEUBERGER BERMAN GROUP LLC | $182,975,203 | 946,930 | 2.25% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $171,473,661 | 887,407 | 2.11% | Shares |
| Holocene Advisors, LP | $146,015,022 | 755,654 | 1.79% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $123,281,000 | 638,000 | 1.52% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $111,708,582 | 578,112 | 1.37% | Shares |
| Artisan Partners Limited Partnership | $103,203,804 | 534,098 | 1.27% | Shares |
| PARK PRESIDIO CAPITAL LLC | $102,977,098 | 532,925 | 1.27% | Shares |
| AMERICAN CENTURY COMPANIES INC | $102,827,229 | 532,149 | 1.26% | Shares |
| D. E. Shaw & Co., Inc. | $99,589,583 | 515,394 | 1.22% | Shares |
| Woodline Partners LP | $89,751,857 | 464,482 | 1.10% | Shares |
| Stephens Investment Management Group LLC | $85,902,136 | 444,559 | 1.06% | Shares |
| GENEVA CAPITAL MANAGEMENT LLC | $83,476,161 | 432,004 | 1.03% | Shares |
| MILLENNIUM MANAGEMENT LLC | $81,948,650 | 424,099 | 1.01% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $80,904,821 | 418,697 | 0.99% | Shares |
| Bahl & Gaynor LLC | $65,107,496 | 336,943 | 0.80% | Shares |
| BANK OF AMERICA CORP /DE/ | $62,431,647 | 323,095 | 0.77% | Shares |
| Balyasny Asset Management L.P. | $61,013,532 | 315,756 | 0.75% | Shares |
| BAMCO INC /NY/ | $60,147,668 | 311,275 | 0.74% | Shares |
| Qube Research & Technologies Ltd | $56,905,849 | 294,498 | 0.70% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $50,880,357 | 263,315 | 0.63% | Shares |
| GOLDMAN SACHS GROUP INC | $44,561,350 | 230,613 | 0.55% | Shares |
| MANE GLOBAL CAPITAL MANAGEMENT LP | $41,627,346 | 215,429 | 0.51% | Shares |
| Clearbridge Investments, LLC | $39,687,510 | 205,390 | 0.49% | Shares |
| LOOMIS SAYLES & CO L P | $38,897,585 | 201,302 | 0.48% | Shares |
| Erste Asset Management GmbH | $38,869,297 | 200,624 | 0.48% | Shares |
| Greenvale Capital LLP | $38,646,000 | 200,000 | 0.48% | Shares |
| Boston Trust Walden Corp | $36,823,697 | 190,569 | 0.45% | Shares |
| RHUMBLINE ADVISERS | $36,046,193 | 186,546 | 0.44% | Shares |
| Ilex Capital Partners (UK) LLP | $35,161,677 | 181,968 | 0.43% | Shares |
| AMERIPRISE FINANCIAL INC | $34,667,938 | 179,414 | 0.43% | Shares |
| SIB LLC | $33,052,250 | 183,186 | 0.41% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $32,265,794 | 166,981 | 0.40% | Shares |
| GILDER GAGNON HOWE & CO LLC | $29,879,155 | 154,630 | 0.37% | Shares |
| Retirement Systems of Alabama | $29,033,387 | 150,253 | 0.36% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $27,236,348 | 140,953 | 0.33% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $26,537,084 | 136,902 | 0.33% | Shares |
| BRAUN STACEY ASSOCIATES INC | $26,307,105 | 136,144 | 0.32% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $26,269,039 | 135,947 | 0.32% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $25,705,967 | 133,033 | 0.32% | Shares |
| Swiss National Bank | $25,564,329 | 132,300 | 0.31% | Shares |
| BlackRock, Inc. | $25,199,318 | 130,411 | 0.31% | Shares |
| IEQ CAPITAL, LLC | $24,375,143 | 126,145 | 0.30% | Shares |
| FIRST TRUST ADVISORS LP | $22,825,243 | 118,125 | 0.28% | Shares |
| Longaeva Partners L.P. | $22,299,322 | 115,403 | 0.27% | Shares |
| Rockefeller Capital Management L.P. | $22,131,212 | 114,533 | 0.27% | Shares |
| JANE STREET GROUP, LLC | $21,950,928 | 113,600 | 0.27% | Call option |
| California Public Employees Retirement System | $21,781,079 | 112,721 | 0.27% | Shares |
| Ranger Investment Management, L.P. | $21,560,217 | 111,578 | 0.27% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $20,179,782 | 104,434 | 0.25% | Shares |
| Point72 Asset Management, L.P. | $19,996,407 | 103,485 | 0.25% | Shares |
| ALPS ADVISORS INC | $19,779,216 | 102,361 | 0.24% | Shares |
| Aptus Capital Advisors, LLC | $18,914,125 | 97,884 | 0.23% | Shares |
| 1832 Asset Management L.P. | $17,357,271 | 89,827 | 0.21% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $16,791,687 | 86,900 | 0.21% | Call option |
| Hudson Bay Capital Management LP | $15,993,840 | 82,771 | 0.20% | Shares |
| Quantinno Capital Management LP | $15,898,850 | 82,279 | 0.20% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $15,334,540 | 79,359 | 0.19% | Shares |
| Ensign Peak Advisors, Inc | $15,133,001 | 78,316 | 0.19% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $15,039,864 | 77,834 | 0.18% | Shares |
| CITADEL ADVISORS LLC | $14,981,315 | 77,531 | 0.18% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $14,551,185 | 75,305 | 0.18% | Shares |
| M&G PLC | $14,272,736 | 73,952 | 0.18% | Shares |
| Hendershot Investments Inc. | $14,177,865 | 73,373 | 0.17% | Shares |
| Aberdeen Group plc | $14,017,870 | 72,545 | 0.17% | Shares |
| USS Investment Management Ltd | $13,686,384 | 70,824 | 0.17% | Shares |
| CWM, LLC | $13,618,600 | 82,467 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $12,736,423 | 77,125 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $12,617,919 | 65,300 | 0.16% | Call option |
| RAYMOND JAMES FINANCIAL INC | $12,575,313 | 65,080 | 0.15% | Shares |
| TWO SIGMA INVESTMENTS, LP | $12,366,720 | 64,000 | 0.15% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $12,354,159 | 63,935 | 0.15% | Shares |
| Capital International, Inc./CA/ | $12,182,379 | 63,046 | 0.15% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $12,008,085 | 62,144 | 0.15% | Shares |
| VAN ECK ASSOCIATES CORP | $11,961,710 | 61,904 | 0.15% | Shares |
| UBS Group AG | $11,524,237 | 59,640 | 0.14% | Shares |
| Trexquant Investment LP | $10,619,341 | 54,957 | 0.13% | Shares |
| Moran Wealth Management, LLC | $10,479,249 | 54,232 | 0.13% | Shares |
| J. Goldman & Co LP | $10,433,840 | 53,997 | 0.13% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $10,213,751 | 52,858 | 0.13% | Shares |
| Congress Wealth Management LLC / DE / | $9,491,817 | 50,646 | 0.12% | Shares |
| PALISADE CAPITAL MANAGEMENT, LP | $9,473,686 | 49,028 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $9,473,101 | 49,025 | 0.12% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $9,396,388 | 48,628 | 0.12% | Shares |
| MORGAN STANLEY | $9,241,998 | 47,829 | 0.11% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $9,226,760 | 47,750 | 0.11% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $8,836,794 | 45,732 | 0.11% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $8,827,519 | 45,684 | 0.11% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $8,664,624 | 49,519 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $8,462,315 | 43,794 | 0.10% | Shares |
| LPL Financial LLC | $8,458,747 | 43,776 | 0.10% | Shares |
Company insiders 27 insiders · 16 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Gerald L. Morgan | CEO, President | May 23, 2022 F | 91,212 | 0 | 0 | $0 |
| Wayne Kent Taylor | Chairman, CEO | March 15, 2021 S | 3,036,295 | 0 | 0 | $0 |
| Gerard Johan Hart | CEO & President | Jan. 8, 2011 A | 94,029 | 0 | 0 | $0 |
| Tonya Robinson | Chief Financial Officer | March 1, 2022 S | 11,197 | 0 | 0 | $0 |
| George Price Cooper IV | Chief Financial Officer | Jan. 8, 2015 A | 42,714 | 0 | 0 | $0 |
| Scott Matthew Colosi | President | June 18, 2019 G | 57,648 | 0 | 0 | $0 |
| Douglas W. Thompson | Chief Operating Officer | Feb. 26, 2021 F | 50,694 | 0 | 0 | $0 |
| Steven J Ortiz | Chief Operating Officer | Jan. 7, 2015 M | 329,884 | 0 | 0 | $0 |
| Sean G Renfroe | GENERAL COUNSEL | July 2, 2026 M | 860 | 0 | 1 | $-82,018 |
| Keith Humpich | CHIEF ACCT & FIN SVCS OFFCR | July 2, 2026 M | 21,137 | 0 | 0 | $0 |
| Regina A. Tobin | Chief Learning & Culture Offcr | May 5, 2022 M | 8,600 | 0 | 0 | $0 |
| Christopher C. Colson | General Counsel | May 5, 2022 M | 4,357 | 0 | 0 | $0 |
| Chris S. Jacobsen | Chief Marketing Officer | Feb. 25, 2022 F | 23,449 | 0 | 0 | $0 |
| Hernan E. Mujica | Chief Information Officer | Feb. 24, 2022 M | 14,260 | 0 | 0 | $0 |
| Celia Catlett | General Counsel | Jan. 8, 2019 A | 19,170 | 0 | 0 | $0 |
| Sheila Carol Brown | General Counsel, Corporate Sec | Jan. 8, 2011 A | 49,298 | 0 | 0 | $0 |
| Hugh J Carroll | Director | July 2, 2026 M | 3,533 | 0 | 0 | $0 |
| Curtis Warfield | Director | May 23, 2022 P | 15,662 | 0 | 0 | $0 |
| James R Zarley | Director | May 20, 2022 P | 7,069 | 0 | 0 | $0 |
| Michael Anthony Crawford | Director | Jan. 10, 2022 A | 4,200 | 0 | 0 | $0 |
| Donna E Epps | Director | Jan. 10, 2022 A | 500 | 0 | 0 | $0 |
| Kathy Widmer | Director | Jan. 10, 2022 A | 15,520 | 0 | 0 | $0 |
| James F Parker | Director | Jan. 8, 2019 A | 92,560 | 0 | 0 | $0 |
| James Ramsey | Director | Jan. 9, 2017 M | 114,418 | 0 | 0 | $0 |
| Martin T Hart | Director | Dec. 10, 2013 M | 129,008 | 0 | 0 | $0 |
| Gregory N Moore | — | Aug. 11, 2026 S | 26,900 | 0 | 4 | $-1,377,338 |
| Jill Marchant | — | Jan. 8, 2013 S | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 103 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| OSCV · ETF Series Solutions | 2.29% | 97,021 NS | April 30, 2026 | N-PORT |
| OUSM · ALPS ETF Trust | 2.18% | 105,854 NS | May 31, 2026 | N-PORT |
| RUNN · Strategic Trust | 1.70% | 32,508 NS | May 31, 2026 | N-PORT |
| GRPM · Invesco Exchange-Traded Fund Trust | 1.55% | 37,994 SH | Aug. 8, 2026 | Daily |
| XMHQ · Invesco Exchange-Traded Fund Trust | 1.50% | 404,994 SH | Aug. 8, 2026 | Daily |
| NBSM · Neuberger Berman ETF Trust | 1.16% | 14,511 NS | May 31, 2026 | N-PORT |
| LCLG · Advisors Series Trust | 0.96% | 6,041 NS | April 30, 2026 | N-PORT |
| CGMM · Capital Group Equity ETF Trust I | 0.89% | 137,799 NS | May 31, 2026 | N-PORT |
| IJK · iShares Trust | 0.73% | 384,151 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.70% | 9,781 SH | Aug. 8, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.66% | 64,857 SH | Aug. 8, 2026 | Daily |
| TMFX · RBB Fund, Inc. | 0.58% | 1,040 NS | May 31, 2026 | N-PORT |
| FXD · First Trust Exchange-Traded AlphaDE… | 0.51% | 8,453 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.48% | 89 NS | May 29, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.46% | 9,676 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.43% | 8,890 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.43% | 20,671 SH | Aug. 8, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.39% | 12,456 NS | April 30, 2026 | N-PORT |
| IJH · iShares Trust | 0.38% | 2,267,812 SH | Aug. 8, 2026 | Daily |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.36% | 12,372 NS | May 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.35% | 871,009 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.35% | 106,215 SH | Aug. 8, 2026 | Daily |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.34% | 9,246 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.31% | 7,588 NS | April 30, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.30% | 19,596 SH | Aug. 8, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.27% | 10,238 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.26% | 2,286 NS | May 31, 2026 | N-PORT |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.25% | 180,279 NS | May 31, 2026 | N-PORT |
| VCR · VANGUARD WORLD FUND | 0.25% | 89,113 SH | Aug. 8, 2026 | Daily |
| IYC · iShares Trust | 0.23% | 13,106 SH | Aug. 8, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.22% | 178,784 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.21% | 27,064 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.21% | 2,930 SH | Aug. 8, 2026 | Daily |
| MIDU · Direxion Shares ETF Trust | 0.21% | 1,096 NS | April 30, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.21% | 30,857 NS | April 30, 2026 | N-PORT |
| IEDI · iShares U.S. ETF Trust | 0.19% | 266 SH | Aug. 8, 2026 | Daily |
| FDIS · FIDELITY COVINGTON TRUST | 0.19% | 20,592 NS | April 30, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.19% | 2,790 NS | May 29, 2026 | N-PORT |
| SMMD · iShares Trust | 0.18% | 32,774 SH | Aug. 8, 2026 | Daily |
| UMDD · ProShares Trust | 0.18% | 319 NS | May 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 0.16% | 22,815 NS | April 30, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.15% | 2,159 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.15% | 1,507,642 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.15% | 1,148 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.15% | 3,282 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.14% | 754,360 SH | Aug. 8, 2026 | Daily |
| TMFE · RBB Fund, Inc. | 0.14% | 648 NS | May 31, 2026 | N-PORT |
| HDUS · Lattice Strategies Trust | 0.14% | 1,513 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.13% | 10,992 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.13% | 4,031 SH | Aug. 8, 2026 | Daily |