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The ONE Group Hospitality ( (STKS) ) has shared an announcement.
On January 12, 2026, The ONE Group reported preliminary 2025 results indicating full-year GAAP revenue of about $805 million, up 20% from 2024 largely due to its May 2024 acquisition of Benihana, even as comparable sales are expected to fall 3.7%. Fourth-quarter 2025 revenue is projected at roughly $207 million, down 6.8% year over year, driven by planned RA Sushi and Kona Grill closures, the shift to a new 4-13-week fiscal calendar that removed New Year’s Eve from the quarter, and the resulting timing effects; STK is expected to post its first positive comparable sales quarter since 2023, Benihana is seen flat, and consolidated comparable sales improved sequentially by about four points. During 2025 the company opened multiple Benihana and STK locations, including a converted RA Sushi in Scottsdale, and in December 2025 it signed its largest asset-light development deal to date, securing rights for ten Benihana or Benihana Express units in the Greater San Francisco Bay Area while also expanding high-margin concessions in stadiums such as Phoenix’s Mortgage Matchup Center and UBS Arena in New York. Looking ahead to 2026, management plans to conserve cash and prioritize capital-efficient growth by sharply reducing discretionary capex, focusing new company-owned units on lower-cost builds, working through an existing lease pipeline, and converting up to nine additional Kona Grill and RA Sushi sites into Benihana or STK formats by the end of 2026, which are expected to be EBITDA-accretive and support a stronger balance sheet and more flexible growth profile.
The most recent analyst rating on (STKS) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on The ONE Group Hospitality stock, see the STKS Stock Forecast page.
Spark’s Take on STKS Stock
According to Spark, TipRanks’ AI Analyst, STKS is a Neutral.
The score is held down primarily by weak financial performance (profitability pressure, high leverage, and negative free cash flow) and a bearish technical setup. Offsetting factors include a mixed-but-constructive earnings narrative and positive asset-light expansion initiatives, while valuation offers limited support given the company is currently loss-making and lacks a dividend.
To see Spark’s full report on STKS stock, click here.
More about The ONE Group Hospitality
The ONE Group Hospitality, Inc., listed on Nasdaq under the ticker STKS, operates and develops upscale dining concepts including STK steakhouses, Benihana teppanyaki and Benihana Express, as well as RA Sushi and Kona Grill, with a growing focus on asset-light formats such as franchises, licensed concessions and stadium partnerships. The company targets high-traffic urban, suburban and entertainment locations, including professional sports and entertainment venues, and is increasingly emphasizing capital-efficient growth, conversions of existing units, and expansion of its Benihana and STK brands, particularly on the U.S. West Coast.
Average Trading Volume: 53,201
Technical Sentiment Signal: Sell
Current Market Cap: $63.14M
Learn more about STKS stock on TipRanks’ Stock Analysis page.