# Driven Brands Holdings Inc. (DRVN)

> Source: Nexqual · https://nexqual.com/DRVN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Driven Brands Holdings Inc. (DRVN), nexqual.com/DRVN" · informational, not investment advice.

**Price:** USD 11.82 (+3.50% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 11.42 · day 11.41–11.93 · 52w 9.8–17.3 · market cap $1.95B · NMS

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $1.93B, net income $165M (8.6% margin), free cash flow $134M (SEC filings).
- Valuation: P/E 11.8x (avg 17.3x at the last 1 fiscal year-ends), EV/EBITDA 9.7x, net debt $1.50B.
- Earnings quality: non-operating income -$110M vs operating income $270M over the last four quarters; P/E excluding non-operating income ≈7.1x (estimate: non-operating income taxed at the company's 0% effective rate).
- Analysts: Hold (mean 2.62 on a 1–5 scale) (13 analysts), mean target USD 16.09 (range 12–22).
- Total return with dividends: 1Y -23.7% vs S&P 500 +14.9%; 5Y -63.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.29, revenue estimate $515M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.47B | $2.03B | $1.71B | $1.75B | $1.86B | $1.93B |
| Operating income | $177M | $200M | $115M | $200M | $231M | $270M |
| Net income | $9.6M | $43.2M | -$745M | -$292M | $140M | $165M |
| EPS (diluted) | $0.06 | $0.25 | -$4.94 | -$1.86 | $0.85 | — |
| Free cash flow | $123M | -$239M | -$368M | -$44.7M | $108M | $134M |
| Operating margin | 12.1% | 9.8% | 6.7% | 11.4% | 12.4% | 14.0% |
| Net margin | 0.7% | 2.1% | -43.6% | -16.7% | 7.5% | 8.6% |
| Revenue growth | +62.3% | +38.6% | -15.9% | +2.5% | +6.3% | — |
| Cash + short-term investments | $523M | $150M | $133M | $103M | $103M | — |
| Total debt | $2.38B | $2.74B | $2.94B | $2.69B | $2.16B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 11.8x · P/E ex non-operating (est.) ≈7.1x · P/S 1.0x · EV/EBITDA 9.7x · EV/Sales 1.8x · P/FCF 14.6x · P/B 2.3x · FCF yield 6.86% · Earnings yield 8.48% · Net debt $1.50B · EV $3.45B
P/E at fiscal year-ends: Dec 2025 17.3x.

## Analysts
Consensus Hold (mean 2.62 on a 1–5 scale), 13 analysts; mean target USD 16.09 (low 12, high 22).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-10 | Canaccord Genuity | Target raised | Buy | $17 → $18 |
| 2026-08-07 | RBC Capital | Target lowered | Outperform | $17 → $16 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -23.7% | -63.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -23.8% | -18.1% |
| Volatility (annualized) | 55.8% | 45.9% |
| Max drawdown | -39.7% (Feb 2026→Mar 2026) | -70.0% (Sep 2022→Mar 2026) |

## Peers (Auto & Truck Dealerships)
SAH (Sonic Automotive, Inc.) USD 63.14 +4.05% · ACVA (ACV Auctions Inc.) USD 10.5 +0.00% · BGSI (Boyd Group Services Inc.) USD 83.44 +4.31% · GPI (Group 1 Automotive, Inc.) USD 242.79 +7.98% · ABG (Asbury Automotive Group Inc) USD 173.43 +5.72% · VVV (Valvoline Inc.) USD 32.44 +4.24%

## More
Full page: https://nexqual.com/DRVN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in DRVN's own 10-K filed 2026-05-19 (https://www.sec.gov/Archives/edgar/data/1804745/000180474526000048/drvn-20251227.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | RC IV Cayman ICW Holdings | "In connection with the completion of the IPO, we entered into a registration rights agreement with Driven Equity LLC and RC IV Cayman ICW Holdings LLC on January 20, 2021." |
| Partner | Driven Equity | "In connection with the completion of the IPO, we entered into a registration rights agreement with Driven Equity LLC and RC IV Cayman ICW Holdings LLC on January 20, 2021." |
| Partner | Driven Equity Sub | "On December 29, 2021, we entered into joinder agreements to the registration rights agreement with Driven Equity Sub LLC and RC IV Cayman ICW Holdings Sub LLC." |

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Take 5 | $334.8M | 66.0% | +10.1% |
| Auto Glass Now | $72.9M | 14.4% | +2.4% |
| Franchise Brands | $69.6M | 13.7% | -4.6% |
| Total revenue | $507.4M | 100% | — |
The lines above cover 94.1% of total revenue.

## Revenue by product line (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Company-operated store sales | $352.6M | 69.5% | +5.8% |
| Supply and other revenue | $73.1M | 14.4% | +11.2% |
| Franchise royalties and fees | $51.7M | 10.2% | +5.0% |
| Advertising | $30.1M | 5.9% | +11.3% |
| Total revenue | $507.4M | 100% | — |

## Revenue by region (fiscal year ended 2025-12-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $1.80B | 96.5% | +9.3% |
| Canada | $64.9M | 3.5% | -40.2% |
| Total revenue | $1.86B | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "The Company continues to expect fiscal year 2026 same store sales growth in the range of flat to 2%; and net store growth of approximately 160 to 190."
- "The Company continues to expect to generate between $125 million and $145 million of free cash flow 2 in fiscal year 2026."
- "Note: 2026 Outlook excludes the impact of any potential M&A and divestitures other than the completed divestiture of the international car wash business. 1 Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP financial measures."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.29 | $0.30 | -5.0% | $515.4M | 12 |
| Next quarter (ends 2026-12-31) | $0.33 | $0.35 | -7.1% | $499.2M | 12 |
| Current fiscal year (ends 2026-12-31) | $1.20 | $1.22 | -1.5% | $2.01B | 12 |
| Next fiscal year (ends 2027-12-31) | $1.44 | $1.49 | -3.3% | $2.19B | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±30.9%; last 8 reports averaged ±4.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 84.1% | ±30.9% |
| 2026-12-18 | 56 | 67.4% | ±21.6% |
| 2027-01-15 | 84 | 64.4% | ±25.8% |
| 2027-03-19 | 147 | 57.2% | ±29.6% |