Graves: Raising Cane's Is Valued at Over $20 Billion on 20x EBITDA
Todd Graves · How Todd Graves Built Raising Cane's · Nov 9, 2025 · at 1:44:24
Todd Graves, founder and CEO of Raising Cane's, explains why maintaining company-owned restaurant locations rather than franchising generates a significantly higher valuation multiple for the business.
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“We're trading on, not trading, we don't trade, but we're valued on over 20 times EBITDA, those company restaurants. Go into that. So the profitability that comes into all of it gets on that, that higher multiple. That's why we have the twenty billion plus valuation for the business.”
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