Driven Brands Holdings Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Driven Brands Holdings Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	600	904	1,467	2,033	1,710	1,752	1,862
Selling, general and administrative	142	218	292	402	390	465	496
Operating expenses	530	809	1,290	1,834	1,595	1,553	1,631
Operating income	70	94.7	177	200	115	200	231
Interest expense	56.8	95.6	75.9	114	164	157	121
Other non-operating income	-57.4	-87.6	-142	-131	-156	-175	-112
Pre-tax income					-41.1	25.1	119
Income tax	4.83	11.4	25.4	25.2	5.64	24.5	-12.8
Net income to minority interests	0.02	-0.02	-0.1	-0.02	0	0
Net income	7.73	-4.2	9.63	43.2	-745	-292	131
EBITDA	94.2	157	290	347	192	279	313
EPS, basic	0.10	-0.04	0.07	0.28	-4.94	-1.86	0.85
EPS, diluted	0.10	-0.04	0.07	0.27	-4.94	-1.86	0.85
Shares, basic (weighted)	81.6	95.7	147	149	162	160	163
Shares, diluted (weighted)	81.6	95.7	151	153	162	161	164

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	34.9	173	523	150	133	103	103
Receivables		84.8	118	180	151	146	132
Inventory		43	47	72	83.2	48.9	52.4
Other current assets		25.1	24.3	40.1	46.7	24.1	50.1
Total current assets		374	769	571	821	608	541
Property, plant and equipment		827	1,351	1,546	1,438	409	472
Lease right-of-use assets		885	996	1,299	1,389	452	513
Goodwill	871	1,727	1,910	2,277	1,239	1,206	1,218
Intangible assets		829	816	766	739	635	618
Other non-current assets			3.18	30.6
Total assets		4,655	5,857	6,500	5,911	5,252	4,160
Accounts payable		67.8	83	60.6	67.5	86.2	93
Accrued liabilities		42	65	58	50	38	33
Short-term debt		23	26	33	32.7	33.7	277
Total current liabilities		305	478	505	427	449	726
Long-term debt		2,102	2,356	2,705	2,911	2,659	1,883
Lease liabilities		818	932	1,178	1,333	440	502
Total liabilities		3,549	4,212	4,846	5,004	4,708	3,393
Total debt		2,102	2,356	2,705	2,911	2,659	1,883
Paid-in capital		1,055	1,606	1,629	1,652	1,708	1,736
Retained earnings		32	41.6	84.8	-710	-1,093	-953
Other comprehensive income		16.5	-5.03	-62.4	-37.9	-72.1	-17.7
Shareholders' equity		1,104	1,644	1,653	906	544	767
Minority interests		2.12	1.1	0.63	0.64	0
Total equity	290	1,106	1,645	1,654	827	544	767
Total liabilities and equity		4,655	5,857	6,500	5,911	5,252	4,160
Shares outstanding		116	153	154	164	164	165

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	7.75	-4.22	9.54	43.2	-799	-297	140
Depreciation and amortization	24.2	62.1	113	147	76.6	79	81.9
Stock-based compensation	1	1.32	4.3	20.6	20.3	52.1	32.3
Deferred income tax	3.17	3.94	9.87	20.6	-138	-56.5	-20.4
Change in inventory	-5.45	-2.9	-5.72	-22.7	-3.77	-2.33	-1.48
Change in payables	13.8	-4.45	6.91	-34.6	18	24.6	0.6
Cash from operations	41.4	84	284	197	229	244	331
Capital expenditures	-28.2	-52.5	-161	-436	-596	-289	-223
Acquisitions	-454	-105	-801	-763	-59.6	-2.99	-11.3
Cash from investing	-482	-57.3	-815	-840	-451	50.1	233
Debt issued	575	625	950	365	0	275	500
Debt repaid	-11	-448	-722	-23.9	-28	-465	-995
Stock issued	0	0	0.51	0.34	6.12	0	0
Share buybacks	0	0	-43	0	-50	0	0
Cash from financing	447	119	886	343	170	-304	-565
Exchange rate effect	-0.12	4.47	0.56	-2.28	0.48	-4.1	5.65
Net change in cash	5.36	150	355	-302	-52.1	-14	3.95
Free cash flow	13.1	31.5	123	-239	-368	-44.7	108
Interest paid	51.2	88.8	75.8	113	156	148	121
Income taxes paid	1.77	6.24	12.8	17.2	23	37	24.9

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $12.31 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	14.0%	Operating income / revenue.
EBITDA margin	18.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.3%	Pre-tax income / revenue.
Net margin	8.9%	Net income / revenue.
FCF margin	6.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.2%	Cash from operations / revenue.
Effective tax rate	-2.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	20.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.8%	Net income / average total assets.
Return on invested capital (ROIC)	9.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	25.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	9.3%	Capital expenditures / revenue.
D&A / revenue	4.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	15.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	15.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	5.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	19.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	12.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	14.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	44.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y	46.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	35.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	18.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	31.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	27.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	41.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-22.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-7.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-20.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-13.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	11.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.47x	Current assets / current liabilities.
Quick ratio	0.90x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.49x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.99x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	46.9%	Total debt / total assets.
Liabilities / assets	76.5%	Total liabilities / total assets.
Net debt	$1.47B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.15x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.75x	Operating income / interest expense.
Working capital	$177.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	51.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$982.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.55x	Revenue / average total assets.
Fixed asset turnover	3.89x	Revenue / average property, plant and equipment.
Receivables turnover	12.4x	Revenue / average receivables.
Days sales outstanding	29 days	365 x average receivables / revenue.
FCF conversion	78.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	57.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.00	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$11.71	Revenue / diluted weighted shares.
FCF per share	$0.81	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.90	Cash from operations / diluted weighted shares.
Book value per share	$5.05	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$5.95	Tangible book value / shares outstanding.
Cash per share	$1.11	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.03B	Share price x shares outstanding.
Enterprise value	$3.51B	Market cap + total debt - cash - short-term investments.
P/E	11.9x	Market cap / net income. Only when net income is positive.
P/S	1.05x	Market cap / revenue.
P/B	2.44x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	15.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.49x	Market cap / cash from operations, when positive.
EV/Sales	1.82x	Enterprise value / revenue.
EV/EBIT	13.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.86x	Enterprise value / EBITDA, when both are positive.
EV/FCF	26.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.6%	Free cash flow / market cap.
Earnings yield	8.4%	Net income / market cap (the inverse of P/E).
PEG	0.26x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Driven Brands Holdings Inc.'s revenue in fiscal 2025?

Driven Brands Holdings Inc. reported revenue of $1.86B for fiscal 2025, 6.3% higher than the year before.

Was Driven Brands Holdings Inc. profitable in fiscal 2025?

Yes. Net income was $131.1M, a net margin of 7%.

How much free cash flow did Driven Brands Holdings Inc. generate in fiscal 2025?

Cash from operations of $330.5M minus capital expenditures of $222.8M left free cash flow of $107.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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