Texas Roadhouse: Beef Costs Bite, But Execution Still Wins

Core Insights - Texas Roadhouse (TXRH) has shown significant growth, with the stake doubling since the end of the 2022 bear market, indicating strong performance and potential for long-term investment [1] Company Overview - Texas Roadhouse is a holding that has required minimal management, suggesting a stable operational model and effective management practices [1] - The company is positioned within the U.S. and European equities markets, focusing on undervalued growth stocks and high-quality dividend growers [1] Financial Performance - Sustained profitability is highlighted as a key driver of returns, characterized by strong margins, stable and expanding free cash flow, and high returns on invested capital [1] Investment Philosophy - The investment strategy emphasizes the importance of sustained profitability over valuation alone, indicating a long-term growth perspective [1] - The goal of the investment approach is to ensure financial freedom while maintaining the ability to work in a fulfilling manner [1]