Private company

DENNY'S Corp

American retail-eating places company based in Spartanburg, active since 20112

In its 2025 annual report the company says: “The Company owns and operates the Denny’s brand and the Keke’s Breakfast Cafe brand. We have four dayparts, breakfast, lunch, dinner and late night, accounting for 28%, 36%, 20% and 16%, respectively, of average daily sales.”5

Last updated Oct 21, 2026.

Overview

  • IndustryRetail-Eating Places2
  • HeadquartersSpartanburg, United States2
  • Incorporated inDE3
  • Business address203 East Main Street, Spartanburg, Sc 293193
  • Filer categoryAccelerated filer3
  • Legal formProfit Corporation2
  • LEI549300X8KXRRGEJS4S812
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CT CORPORATION SYSTEM, 33324 Plantation, United States2
  • Registered withFlorida Division of Corporations, P110000418922

Denny’s Corporation, or the “Company”, a Delaware corporation, is one of America’s largest franchised full-service restaurant chains. The Company owns and operates the Denny’s brand (“Denny’s”) and the Keke’s Breakfast Cafe brand (“Keke’s”). As of December 25, 2024, the Company consisted of 1,568 restaurants, 1,493 of which were franchised/licensed restaurants and 75 of which were company operated.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

10.0%Operating margin6
4.8%Net margin6
-2.5%Revenue growth, 20246

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Other costs94¢$423.1M
  • Income tax2¢$7.7M
  • Profit5¢$21.6M

Out of $452.3M in revenue.6

Where each dollar of operating cash went, fiscal 2024

  • Share buybacks40¢$11.7M
  • Kept or used elsewhere60¢$17.8M

Out of $29.5M of cash from operations.6

Financial statements

Revenue789106$452.3M in 2024−28% since 2018
0$200.0M$400.0M$600.0M$800.0M2018: $630.2M$630.2M20182019: $541.4M$541.4M2019−14%2020: $288.6M$288.6M2020−47%2021: $398.2M$398.2M2021+38%2022: $456.4M$456.4M2022+15%2023: $463.9M$463.9M2023+2%2024: $452.3M$452.3M2024−2%
Operating income789106$45.3M in 2024−38% since 2018
0$50.0M$100.0M$150.0M$200.0M2018: $73.6M$73.6M20182019: $165.0M$165.0M2019+124%2020: $6.7M$6.7M2020−96%2021: $104.1M$104.1M2021+1458%2022: $60.6M$60.6M2022−42%2023: $52.8M$52.8M2023−13%2024: $45.3M$45.3M2024−14%
Net income789106$21.6M in 2024−51% since 2018
-$50.0M0$50.0M$100.0M$150.0M2018: $43.7M$43.7M20182019: $117.4M$117.4M2019+169%2020: -$5.1M-$5.1M20202021: $78.1M$78.1M20212022: $74.7M$74.7M2022−4%2023: $19.9M$19.9M2023−73%2024: $21.6M$21.6M2024+8%
Fiscal year2018201920202021202220232024
Revenue$630.2M7$541.4M8$288.6M9$398.2M10$456.4M6$463.9M6$452.3M6
Cost of revenue$100.5M14
Operating expenses$38.0M10$81.0M6$101.0M6$97.0M6
Operating income$73.6M7$165.0M8$6.7M9$104.1M10$60.6M6$52.8M6$45.3M6
Interest$20.7M7$18.5M8$18.0M9$15.1M10$13.8M10$17.6M10
Income before tax$104.1M10$99.4M6$26.9M6$29.2M6
Income tax$8.6M7$31.8M8-$2.0M9$26.0M10$24.7M6$7.0M6$7.7M6
Net income$43.7M7$117.4M8-$5.1M9$78.1M10$74.7M6$19.9M6$21.6M6
Earnings per share$0.697$1.968-$0.089$1.2010$1.236$0.366$0.416
Earnings per share (diluted)$0.677$1.908-$0.089$1.1910$1.236$0.356$0.416
Shares (weighted, basic)65.2M shares1060.8M shares656.0M shares652.5M shares6
Shares (weighted, diluted)65.6M shares1060.9M shares656.2M shares652.6M shares6

Compare DENNY'S Corp with another company

Corporate structure

DENNY'S Corp is part of a group headed by Denny's. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of DENNY'S Corp

  • Denny's Spartanburg, South Carolina, United States
    • DENNY'S Corp Spartanburg, South Carolina, United States
      • DENNY'S REALTY, LLC Subsidiary · Spartanburg, South Carolina, United States
      • DFO, LLC Subsidiary · Delaware, United States
      • East Main Insurance Company Subsidiary · South Carolina, United States
      • Keke's Franchise Organization, LLC Subsidiary · Delaware, United States
      • Keke's, Inc. Subsidiary · Florida, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What DENNY'S Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$271.0M6 Dec 25, 2024$253.4M6 Dec 27, 2023+7.0%
Accumulated depreciation$159.6M6 Dec 25, 2024$159.9M6 Dec 27, 2023−0.2%
Property and equipment, net$111.4M6 Dec 25, 2024$93.5M6 Dec 27, 2023+19.2%
Finance-lease assets$6.2M6 Dec 25, 2024$6.1M6 Dec 27, 2023+1.7%
Operating-lease assets (leased space)$124.7M6 Dec 25, 2024$116.8M6 Dec 27, 2023+6.8%

Real estate and locations

ItemLatestA year beforeChange
Countries it operates in1210 Dec 27, 2023129 Dec 28, 20220%

Investments

ItemLatestA year beforeChange
Marketable securities, current$1.1M6 Dec 25, 2024$1.3M6 Dec 27, 2023−13.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$66.4M6 Dec 25, 2024$65.9M6 Dec 27, 2023+0.7%
Intangible assets, net (excluding goodwill)$91.7M6 Dec 25, 2024$93.4M6 Dec 27, 2023−1.8%
Trademarks and trade names (indefinite-lived)$79.7M6 Dec 25, 2024$79.7M6 Dec 27, 20230%
Accumulated amortization$7.8M6 Dec 25, 2024$6.5M6 Dec 27, 2023+19.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.7M6 Dec 25, 2024$2.2M6 Dec 27, 2023−19.7%

Properties, in its own words

Most Denny’s restaurants are free-standing facilities with property sizes averaging approximately one acre. The restaurant buildings average between 3,800 - 5,000 square feet, allowing them to accommodate an average of 110 - 170 guests. Most Keke’s restaurants are attached to shopping centers. The restaurant buildings average between 4,000 - 5,000 square feet, allowing them to accommodate an average of 135 - 170 guests.

United States - Denny’s · Company · Franchised / Licensed · Total

The rest of Item 2

Alabama · — · 5 · 5

Alaska · — · 1 · 1

Arizona · 1 · 79 · 80

Arkansas · — · 8 · 8

California · 22 · 332 · 354

Colorado · — · 18 · 18

Connecticut · — · 5 · 5

Delaware · — · 1 · 1

District of Columbia · — · 2 · 2

Florida · 9 · 108 · 117

Georgia · — · 10 · 10

Hawaii · 2 · 3 · 5

Idaho · — · 7 · 7

Illinois · — · 43 · 43

Indiana · — · 30 · 30

Iowa · — · 3 · 3

Kansas · — · 4 · 4

Kentucky · — · 10 · 10

Louisiana · — · 6 · 6

Maine · — · 2 · 2

Maryland · — · 23 · 23

Massachusetts · 1 · 3 · 4

Michigan · — · 12 · 12

Minnesota · — · 13 · 13

Mississippi · — · 4 · 4

Missouri · — · 26 · 26

Montana · — · 2 · 2

Nebraska · — · 3 · 3

Nevada · 7 · 33 · 40

New Hampshire · 2 · — · 2

New Jersey · — · 6 · 6

New Mexico · — · 29 · 29

New York · — · 33 · 33

North Carolina · — · 17 · 17

North Dakota · — · 3 · 3

Ohio · — · 26 · 26

Oklahoma · — · 7 · 7

Oregon · — · 18 · 18

Pennsylvania · — · 33 · 33

Rhode Island · — · 2 · 2

South Carolina · — · 9 · 9

South Dakota · — · 1 · 1

Tennessee · — · 4 · 4

Texas · 14 · 180 · 194

Utah · — · 21 · 21

Vermont · 1 · — · 1

Virginia · 2 · 18 · 20

Washington · — · 41 · 41

West Virginia · — · 2 · 2

Wisconsin · — · 23 · 23

Wyoming · — · 4 · 4

Total Domestic - Denny’s · 61 · 1,273 · 1,334

International - Denny’s · Company · Franchised / Licensed · Total

Canada · — · 86 · 86

Costa Rica · — · 3 · 3

Curacao N.V. · — · 1 · 1

El Salvador · — · 3 · 3

Guam · — · 2 · 2

Guatemala · — · 4 · 4

Honduras · — · 7 · 7

Indonesia · — · 2 · 2

Mexico · — · 15 · 15

New Zealand · — · 7 · 7

Philippines · — · 14 · 14

Puerto Rico · — · 15 · 15

United Arab Emirates · — · 5 · 5

United Kingdom · — · 1 · 1

Total International - Denny’s · — · 165 · 165

Total Domestic - Denny’s · 61 · 1,273 · 1,334

Total - Denny’s · 61 · 1,438 · 1,499

United States - Keke’s · Company · Franchised / Licensed · Total

California · — · 1 · 1

Colorado · — · 1 · 1

Florida · 9 · 52 · 61

Tennessee · 3 · — · 3

Texas · 2 · — · 2

Nevada · — · 1 · 1

Total Domestic - Keke’s · 14 · 55 · 69

Total · 75 · 1,493 · 1,568

Of our total 1,568 restaurants, our interest in restaurant properties consists of the following:

Company Restaurants · Franchised Restaurants · Total

Owned properties · 17 · 60 · 77

Leased properties · 58 · 131 · 189

75 · 191 · 266

We have generally been able to renew our restaurant leases as they expire at then-current market rates. The remaining terms of leases range from less than one to approximately 38 years, including optional renewal periods.

Our corporate offices include an owned building in Spartanburg, South Carolina and leased buildings in Irving, Texas and in Orlando, Florida. The Spartanburg office is an 18-story, 187,000 square foot office building where we occupy 17 floors with a portion of the building leased to others.

See Note 10 to our consolidated financial statements for information concerning encumbrances on substantially all of our properties.

Item 2 of the 10-K filed Feb 24, 2025.5

Leadership

Who has led DENNY'S Corp, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (44)

Subsidiaries and ownership

Parent company (GLEIF)

Subsidiaries (Exhibit 21)

  • DFO, LLC Delaware4
  • Denny's Realty, LLC Delaware4
  • Denny's, Inc. Florida4
  • East Main Insurance Company South Carolina4
  • Keke's Franchise Organization, LLC Delaware4
  • Keke's, Inc. Florida4

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • DENNYS CORPAug 12, 2002 to Jun 6, 20193
  • ADVANTICA RESTAURANT GROUP INCNov 3, 1998 to Jul 25, 20023
  • FLAGSTAR COMPANIES INCMar 31, 1994 to Nov 21, 19973

Timeline

  1. Jan 16, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale67
  2. Jan 13, 20268-K Shareholder vote68
  3. Jan 5, 20268-K Other events69
  4. Nov 4, 20258-K Results of operations70
  5. Nov 4, 20258-K Entered a material agreement; Other events71
  6. Nov 3, 20258-K Entered a material agreement; New debt or obligation72
  7. Aug 4, 20258-K Results of operations; Regulation FD disclosure73
  8. Jul 25, 20258-K Other events74
  9. May 16, 20258-K Executive or director change; Shareholder vote75
  10. May 5, 20258-K Results of operations; Regulation FD disclosure76
  11. Mar 3, 20258-K Other events77
  12. Feb 18, 20258-K Executive or director change78
  13. Jun 15, 2022New chief executive Kelli Valade becomes CEO16
  14. Apr 29, 2011Parent Directly consolidated by Denny's2
  15. Apr 29, 2011Founded DENNY'S Corp is founded2
  16. Mar 6, 2006New chief executive Nelson J. Marchioli becomes CEO17

Calendar

When it reported results

  1. Nov 4, 2025Reported quarterly or annual results70
  2. Aug 4, 2025Reported quarterly or annual results73
  3. May 5, 2025Reported quarterly or annual results76
  4. Feb 12, 2025Reported quarterly or annual results79
  5. Jan 13, 2025Reported quarterly or annual results80
  6. Oct 22, 2024Reported quarterly or annual results81
  7. Jul 30, 2024Reported quarterly or annual results82
  8. Apr 30, 2024Reported quarterly or annual results83

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

367 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 52 major events, 191 insider forms, 35 large holders, 72 other. The latest 20:

  1. Feb 10, 2026SCHEDULE 13G/A EDGAR
  2. Jan 26, 202615-12G EDGAR
  3. Jan 22, 2026EFFECT EDGAR
  4. Jan 22, 2026EFFECT EDGAR
  5. Jan 20, 20264 EDGAR
  6. Jan 20, 20264 EDGAR
  7. Jan 20, 20264 EDGAR
  8. Jan 20, 20264 EDGAR
  9. Jan 20, 20264 EDGAR
  10. Jan 20, 20264 EDGAR
  11. Jan 20, 20264 EDGAR
  12. Jan 20, 20264 EDGAR
  13. Jan 20, 20264 EDGAR
  14. Jan 20, 20264 EDGAR
  15. Jan 20, 20264 EDGAR
  16. Jan 20, 20264 EDGAR
  17. Jan 20, 20264 EDGAR
  18. Jan 20, 20264 EDGAR
  19. Jan 20, 20264 EDGAR
  20. Jan 16, 2026SCHEDULE 13G/A EDGAR

The 367 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

29 open-market trades by officers, directors and large owners since October 2021: 10 buys and 19 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 3, 2025Martin Christopher RossBuy250,000$4.08$1.0MForm 4
Oct 21, 2025Jumana Capital Investments LLCBuy9,347$5.14$48.0KForm 4
Oct 20, 2025Jumana Capital Investments LLCBuy162,210$5.05$819.2KForm 4
Oct 17, 2025Jumana Capital Investments LLCBuy11,750$4.99$58.6KForm 4
Feb 26, 2025Dunn Stephen C.EVP, Chief Global Dev. Ofc.Buy9,815$5.08$49.9KForm 4
Feb 20, 2025Saygbay-Hallie MonigoEVP, Chief People OfficerBuy950$5.09$4.8KForm 4
Feb 20, 2025Valade KelliCEOBuy9,700$5.13$49.8KForm 4
Feb 14, 2025Bode Christopher DPresident, COOBuy9,740$5.11$49.8KForm 4
Jun 14, 2024Verostek Robert P.EVP, Chief Financial OfficerBuy10,000$6.53$65.3KForm 4
Jun 14, 2024Gilmore Jay CSVP, CAO & Corp. ControllerBuy12,000$6.51$78.1KForm 4
May 22, 2024LAUDERBACK BRENDA JDirectorSale11,145$7.36$82.0KForm 4
Feb 26, 2024MILLER JOHN CDirectorSale35,359$9.25$327.1KForm 4
Nov 15, 2023MILLER JOHN CDirectorSale22,600$9.36$211.5KForm 4
Nov 14, 2023MILLER JOHN CDirectorSale114,900$9.23$1.1MForm 4
Sep 15, 2023Dunn Stephen C.EVP, Chief Global Dev. Ofc.Sale45,000$8.83$397.4KForm 4
Sep 12, 2023MILLER JOHN CDirectorSale25,000$9.08$227.0KForm 4
Sep 1, 2023MILLER JOHN CDirectorSale25,000$9.51$237.8KForm 4
Aug 31, 2023MILLER JOHN CDirectorSale25,000$9.62$240.5KForm 4
Aug 30, 2023MILLER JOHN CDirectorSale10,508$9.58$100.7KForm 4
Aug 29, 2023MILLER JOHN CDirectorSale6,583$9.50$62.5KForm 4

All 29 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How DENNY'S Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARDENNY'S Corp1
  • CIK0000852772
  • Employer ID (EIN)13-34874025
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)5812 Retail-Eating Places1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address203 East Main Street, Spartanburg, SC 293191
  • Phone86459780001
  • Shares outstanding51,498,994 as of Oct 28, 202513
  • Public float$290.2M as of Jun 26, 20245
  • AuditorKPMG LLP, Charlotte, NC PCAOB ID 185; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceJan 24, 19941
  • Filings2,065 in all: 4 (919), 8-K (354), SC 13G/A (151), 10-Q (96), SC 13G (55), DEFA14A (50), 3 (43), DFAN14A (43)1
    All 58 form types

    4/A (38), DEF 14A (30), SC 13D/A (30), 10-K (28), UPLOAD (26), ARS (16), CORRESP (16), S-8 POS (14), S-8 (13), 144 (10), 10-K/A (9), 3/A (9), 424B3 (8), SC 13D (8), SCHEDULE 13G/A (8), S-4/A (7), POS AM (6), 11-K (5), PX14A6G (5), 10-K405 (4), 8-K/A (4), DEFC14A (4), PREC14A (4), PRRN14A (4), S-4 (4), 10-K405/A (3), 15-12G (3), 8-A12G (3), EFFECT (3), REGDEX (3), 424B5 (2), 5 (2), DFRN14A (2), NO ACT (2), PRE 14A (2), S-1/A (2), S-3 (2), SCHEDULE 13D/A (2), SCHEDULE 13G (2), 15-12G/A (1), 25-NSE (1), 8-A12G/A (1), DEFM14A (1), NT 10-K (1), NT 10-Q (1), PREM14A (1), S-1 (1), S-3/A (1), S-4MEF (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2025
    Quarterly report (10-Q) Nov 4, 2025
    Proxy statement (DEF 14A) Apr 4, 2024
    Latest 8-K (8-K) Jan 16, 2026

Securities registered for trading

ClassSymbolExchange
$.01 Par Value, Common StockDENNThe Nasdaq Stock Market

From the cover page of the 10-K filed Feb 24, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks DENNY'S Corp names in Item 1A of its 10-K filed Feb 24, 2025: 21 risks under these headings, as written.5

  • Risks Related to Macroeconomic Conditions
  • A decline in general economic conditions could adversely affect our financial results.
  • Risks Related to Restaurant Operations and the Restaurant Industry
  • The restaurant business is highly competitive, and if we are unable to compete effectively, our business will be adversely affected.
  • Our returns and profitability may be negatively impacted by a number of factors, including those described below.
  • The financial performance of our franchisees can negatively impact our business.
  • The locations of company and franchised restaurants may cease to be attractive as demographic patterns change.
  • Food safety and quality concerns may negatively impact our business and profitability.
  • Unfavorable publicity, or a failure to respond effectively to adverse publicity, could harm the reputations of our brands.
  • If we fail to recruit, develop and retain talented employees, our business could suffer.
  • Risks Related to Development Strategies
  • Our growth strategy depends on our ability and that of our franchisees to open new restaurants.
The other 12 risks
  • The expansion of the Denny’s brand into international markets may present increased risks due to lower customer awareness of our brand, our unfamiliarity with those markets and other factors.
  • Legal and Regulatory Risks
  • Litigation may adversely affect our business, financial condition and results of operations.
  • Our amended and restated by-laws provide that the Court of Chancery of the State of Delaware will be the exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or agents.
  • Numerous government regulations impact our business, and our failure to comply with them could adversely affect our business.
  • Existing and changing legal and regulatory requirements, as well as an increasing focus on environmental, social and governance issues, could adversely affect our brand, business, results of operations and financial condition.
  • Being liable as a joint employer could adversely affect our business
  • If our internal controls are ineffective, we may not be able to accurately report our financial results or prevent fraud.
  • Changes to existing accounting rules or the questioning of current accounting practices may adversely affect our reported financial results.
  • Information Technology Risks
  • Failure of computer systems, information technology, or the ability to provide a continuously secure network, or cyber attacks against our computer systems, could result in material harm to our reputation and business.
  • We rely on third parties for certain business processes and services. Failure or inability of such third-party vendors to perform subjects us to risks, including business disruption and increased costs.
  • Risks Related to Indebtedness
  • Our indebtedness could have an adverse effect on our financial condition and operations.
  • Risks Related to our Common Stock
  • Many factors, including those over which we have no control, affect the trading price of our common stock.

Legal proceedings

There are various claims and pending legal actions against or indirectly involving us, incidental to and arising out of the ordinary course of the business. In the opinion of management, based upon information currently available, the ultimate liability with respect to these proceedings and claims will not materially affect the Company’s consolidated results of operations or financial position.

The opening of Item 3, Legal Proceedings.5

Sources

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