EAT vs. SPOT

Last updated Jun 23, 2026

EAT (Brinker International, Inc.) and SPOT (Spotify Technology S.A.) are both stocks. EAT operates in Restaurants (Consumer Cyclical), while SPOT operates in Internet Content & Information (Communication Services). Over the past 5 years, EAT returned 23.75%/yr vs 12.34%/yr for SPOT. At a 0.21 correlation, their price movements are largely independent.

Performance

EAT vs. SPOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brinker International, Inc. (EAT) and Spotify Technology S.A. (SPOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EAT achieves a 14.59% return, which is significantly higher than SPOT's -20.90% return.

EAT

• 1D: -0.26%
• 1M: 19.69%
• YTD: 14.59%
• 6M: 8.88%
• 1Y: -7.94%
• 3Y*: 69.04%
• 5Y*: 23.75%
• 10Y*: 15.08%

SPOT

• 1D: -1.87%
• 1M: -11.64%
• YTD: -20.90%
• 6M: -20.64%
• 1Y: -35.07%
• 3Y*: 42.88%
• 5Y*: 12.34%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EAT vs. SPOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EAT Brinker International, Inc.	14.59%	8.49%	206.37%	35.32%	-12.79%	-35.32%	36.16%	-0.92%	25.55%
SPOT Spotify Technology S.A.	-20.90%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-31.59%

Correlation

The correlation between EAT and SPOT is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018	0.21

The correlation between EAT and SPOT shifts across timeframes, from 0.09 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap EAT : $7.32B SPOT : $96.13B
EPS EAT : $10.14 SPOT : €12.94
PE Ratio EAT : 16.22 SPOT : 30.96
PEG Ratio EAT : 0.37 SPOT : 0.34
PS Ratio EAT : 1.31 SPOT : 4.78
PB Ratio EAT : 18.03 SPOT : 10.45
Total Revenue (TTM) EAT : $5.73B SPOT : €17.60B
Gross Profit (TTM) EAT : $3.45B SPOT : €5.68B
EBITDA (TTM) EAT : $807.20M SPOT : €2.75B

Return for Risk

EAT vs. SPOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EAT

EAT Risk / Return Rank: 35
EAT Sharpe Ratio Rank: 35
EAT Sortino Ratio Rank: 34
EAT Omega Ratio Rank: 33
EAT Calmar Ratio Rank: 36
EAT Martin Ratio Rank: 35

SPOT

SPOT Risk / Return Rank: 12
SPOT Sharpe Ratio Rank: 10
SPOT Sortino Ratio Rank: 12
SPOT Omega Ratio Rank: 12
SPOT Calmar Ratio Rank: 14
SPOT Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EAT vs. SPOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brinker International, Inc. (EAT) and Spotify Technology S.A. (SPOT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EAT	SPOT	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	-0.77	+0.60
Sortino ratio: Return per unit of downside risk	0.09	-1.00	+1.08
Omega ratio: Gain probability vs. loss probability	1.01	0.88	+0.13
Calmar ratio: Return relative to maximum drawdown	-0.18	-0.75	+0.57
Martin ratio: Return relative to average drawdown	-0.36	-1.27	+0.90

EAT vs. SPOT - Sharpe Ratio Comparison

The current EAT Sharpe Ratio is -0.17, which is higher than the SPOT Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of EAT and SPOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EAT vs. SPOT - Drawdown Comparison

The maximum EAT drawdown since its inception was -88.40%, which is greater than SPOT's maximum drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for EAT and SPOT.

Drawdown Indicators

	EAT	SPOT	Difference
Max Drawdown Largest peak-to-trough decline	-88.40%	-80.51%	-7.89%
Max Drawdown (1Y) Largest decline over 1 year	-44.41%	-46.80%	+2.39%
Max Drawdown (3Y) Largest decline over 3 years	-45.92%	-46.80%	+0.88%
Max Drawdown (5Y) Largest decline over 5 years	-65.54%	-76.39%	+10.85%
Max Drawdown (10Y) Largest decline over 10 years	-84.94%	—	—
Current Drawdown Current decline from peak	-13.05%	-40.80%	+27.75%
Average Drawdown Average peak-to-trough decline	-24.33%	-30.89%	+6.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.86%	27.73%	-5.87%

Volatility

EAT vs. SPOT - Volatility Comparison

The current volatility for Brinker International, Inc. (EAT) is 12.26%, while Spotify Technology S.A. (SPOT) has a volatility of 16.88%. This indicates that EAT experiences smaller price fluctuations and is considered to be less risky than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EAT	SPOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.26%	16.88%	-4.62%
Volatility (6M) Calculated over the trailing 6-month period	36.42%	37.35%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	47.20%	45.57%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.02%	47.59%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.19%	47.34%	+7.85%

Dividends

EAT vs. SPOT - Dividend Comparison

Neither EAT nor SPOT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EAT Brinker International, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.67%	3.62%	3.46%	3.71%	2.67%	2.50%
SPOT Spotify Technology S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

EAT vs. SPOT - Profitability Comparison

The chart below illustrates the profitability comparison between Brinker International, Inc. and Spotify Technology S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brinker International, Inc. reported a gross profit of 1.10B and revenue of 1.47B. Therefore, the gross margin over that period was 74.6%.

SPOT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a gross profit of 1.51B and revenue of 4.61B. Therefore, the gross margin over that period was 32.9%.

EAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brinker International, Inc. reported an operating income of 166.60M and revenue of 1.47B, resulting in an operating margin of 11.3%.

SPOT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported an operating income of 726.76M and revenue of 4.61B, resulting in an operating margin of 15.8%.

EAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brinker International, Inc. reported a net income of 127.90M and revenue of 1.47B, resulting in a net margin of 8.7%.

SPOT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a net income of 732.86M and revenue of 4.61B, resulting in a net margin of 15.9%.

Frequently Asked Questions

Can I hold both EAT and SPOT in my portfolio?

EAT and SPOT have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EAT or SPOT?

SPOT has higher volatility (16.88%) compared to EAT (12.26%). In terms of maximum drawdown, EAT dropped -88.40% vs SPOT's -80.51%.

Which has better risk-adjusted returns?

EAT currently has the higher Sharpe Ratio (-0.17 vs -0.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.