Services
Net Lease DispositionsAcquisitions & 1031 ExchangesLease RestructuringDiscount & Auto RetailShopping CentersQSR & Drive-ThruSale-LeasebacksBusiness Sales
Active ListingsTrack RecordTenant InsightsInsights
Net Lease News
AboutContactRequest a Valuation
Casual Dining

IHOP

Parent: Dine Brands Global · Public parent; franchised

NYSE: DIN$37.22+3.8%close Nov. 9, 2026
Credit ratingNot rated
AAAAAABBBBBBCCCD

No verified agency rating for Dine Brands Global.

Rating shown is for parent Dine Brands Global, not for IHOP on its own.

Founded1958Source: Wikidata
EmployeesNot verifiedNo verified source
Locations1,824Dec. 2025; source: DIN Form 10-K, fiscal year ended 2025-12-28
HeadquartersPasadena, CaliforniaCasual Dining

New Initiatives

How the real estate strategy is changing: openings, closures, formats, remodels, relocations and refranchising.

  • Dine Brands reported 44 domestic dual-brand Applebee’s and IHOP restaurants in the second quarter of 2026, with 13 openings and 30 closures across the system in the quarter.

    Source: Dine Brands second-quarter 2026 results
  • Dine Brands reported that dual-brand remodels were lifting sales at converted units.

    Source: Restaurant Dive

IHOP is a family dining chain owned by Dine Brands and run almost entirely by franchisees. Dine is converting some locations into dual-brand IHOP and Applebee’s units.

Store count

1,824 as of Dec. 28, 2025
0.0% 1-year change vs. prior fiscal year
  1. 1,6832015
  2. 1,7332016
  3. 1,7862017
  4. 1,8312018
  5. 1,8412019
  6. 1,7722020
  7. 1,7512021
  8. 1,7812022
  9. 1,8142023
  10. 1,8242024
  11. 1,8242025

IHOP restaurants, systemwide. Counts as reported at each period end. Sources: DIN Form 10-K, fiscal year ended 2022-12-31; DIN Form 10-K, fiscal year ended 2023-12-31; DIN Form 10-K, fiscal year ended 2024-12-31; DIN Form 10-K, fiscal year ended 2025-12-28 and 7 earlier sources.

Ownership history

  1. 2007

    IHOP Corp. acquires Applebee's, renamed DineEquity in 2008 and Dine Brands Global in 2018 Source: Wikipedia: Dine Brands Global

SEC Filings

Filings by parent Dine Brands Global, Inc.. IHOP does not file on its own. All filings on EDGAR

PeriodFormFiledDocument
Fiscal year ended Dec. 28, 202510-KFeb. 25, 2026View on sec.gov
Fiscal year ended Dec. 31, 202410-KMar. 5, 2025View on sec.gov
Fiscal year ended Dec. 31, 202310-KFeb. 28, 2024View on sec.gov
Fiscal year ended Dec. 31, 202210-KMar. 1, 2023View on sec.gov
Latest quarter, period ended Sept. 27, 202610-QNov. 4, 2026View on sec.gov

Credit ratings

AgencyRatingOutlookAs ofSource
S&P GlobalUnavailableNot verifiedNot verified
Moody’sUnavailableNot verifiedNot verified

Share prices, Yahoo Finance, as of Nov. 9, 2026. Bond index yields and spreads, ICE BofA US corporate and high yield indices, ICE Data Indices, LLC, via FRED, Federal Reserve Bank of St. Louis. 10-year yield, U.S. Department of the Treasury.

Casual Dining

Related tenants.

All tenant profiles · Store Count Tracker · Net Lease News

Big Boy

Casual Dining
Not rated
56 locations · Founded 1936

Bob Evans

Casual Dining
Parent: 4x4 Capital
Not rated
420 locations · Founded 1946