Flanigan's Enterprises (BDL) AI Stock Analysis

• Market Cap: $59.48M
• Dividend Yield: 1.89%
• Average Volume (3M): 1.54K
• Price to Earnings (P/E): 10.3
• Beta (1Y): 0.31
• Revenue Growth: 8.99%
• EPS Growth: 49.97%
• Country: US
• Employees: 665
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 0.43
• Shares Outstanding: 1,858,647
• 10 Day Avg. Volume: 597
• 30 Day Avg. Volume: 1,543
• PEG Ratio: 0.22
• Price to Book (P/B): 0.85
• Price to Sales (P/S): 0.27
• P/FCF Ratio: 11.85
• Enterprise Value/Market Cap: 1.83
• Enterprise Value/Revenue: 0.52
• Enterprise Value/Gross Profit: 2.71
• Enterprise Value/Ebitda: 6.05
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $36.00 ▲(28.57% Upside)
• Action: Reiterated Date: 02/12/26
• Date: Action: Reiterated 02/12/26

The score is primarily tempered by fundamentals: margin compression, increased leverage, and weaker recent free cash flow despite steady revenue growth. Technicals are constructive with price above key moving averages and positive momentum, and valuation looks reasonable with a low P/E and a modest dividend. The leadership reshuffle appears continuity-focused and mildly positive, but adds some transition risk.

Positive Factors

Consistent revenue growth

Sustained top-line expansion across multiple years provides a stable earnings base and supports scale economics. This durable growth underpins capacity to invest in operations, marketing and menu innovation, helping the business withstand short-term demand swings over the next several months.

Established brand and repeat customers

An entrenched casual-dining brand with repeat patronage and diversified channels (dine-in, takeout, catering, merchandise) produces more predictable revenue streams. This structural customer loyalty reduces volatility and supports margin recovery and long-term customer lifetime value.

Internal succession and leadership continuity

Promoting long-tenured internal executives preserves institutional knowledge and eases transition risk. Continuity-focused succession can accelerate execution of strategic initiatives, maintain supplier and franchise relationships, and limit disruption to operations over a multi-month horizon.

Negative Factors

Margin compression

A sustained decline in net and operating margins signals structural cost pressures or pricing erosion. Lower profitability limits internal reinvestment, weakens ability to absorb labor or commodity inflation, and constrains long-term free cash flow generation if not reversed.

Rising leverage

Debt rising to slightly above equity reduces financial flexibility and raises refinancing and interest-rate sensitivity. Higher leverage constrains capital allocation, increases risk during demand slowdowns, and can limit ability to fund growth or absorb earnings shocks over coming quarters.

Weak and volatile free cash flow

Sharp drop and historical volatility in free cash flow mean reported earnings don’t reliably convert to cash. Low FCF limits dividend funding, debt paydown and capex, increasing reliance on external financing and raising execution risk for multi-month strategic plans.

Flanigan's Enterprises Business Overview & Revenue Model

Company Description

Flanigan's Enterprises (BDL) is a diversified company primarily engaged in the food and beverage industry, with a focus on operating a chain of casual dining restaurants across various locations. The company offers a wide array of menu items ranging from seafood to steaks, along with a selection of beverages, including craft beers and cocktails. In addition to its restaurant operations, Flanigan's Enterprises also engages in retail, providing branded products and merchandise related to its dining experience.

How the Company Makes Money

Flanigan's Enterprises generates revenue primarily through its restaurant operations, which include sales from food and drinks served at its locations. The company benefits from repeat business due to its established brand and customer loyalty. Key revenue streams include dine-in services, takeout orders, and catering services for events. Additionally, Flanigan's Enterprises capitalizes on promotional partnerships with local breweries and beverage distributors, enhancing its drink offerings and attracting a broader customer base. The company may also see revenue from merchandise sales that promote its brand, further diversifying its income sources.

Flanigan's Enterprises Financial Statement Overview

Summary

Revenue growth is steady (FY2021 $137.0M to FY2025 $205.2M; TTM $207.6M), but profitability has materially compressed (net margin ~8.6% in FY2021 to ~2.8% TTM). Leverage has increased (TTM debt-to-equity ~1.05) and recent cash conversion weakened, with TTM free cash flow dropping to ~$1.3M and remaining low versus earnings.

Income Statement

Results show steady top-line expansion, with revenue rising from $137.0M (FY2021) to $205.2M (FY2025 annual) and $207.6M in TTM (Trailing-Twelve-Months). Profitability is positive but has compressed versus earlier years: net margin declined from ~8.6% (FY2021) to ~2.5% (FY2025 annual) and ~2.8% in TTM, with a similar step-down in gross and operating margins. The recent period shows modest improvement versus FY2024 (higher operating profit and net income), but margins remain well below peak levels, limiting the score despite consistent revenue growth.

Balance Sheet

The balance sheet is workable but more leveraged in the latest period. Total debt increased to $69.2M in TTM (Trailing-Twelve-Months) from $47.1M in FY2025 annual, pushing debt to slightly above equity (debt-to-equity ~1.05 in TTM). Equity has grown over time (from ~$51.2M in FY2021 to ~$66.0M in TTM), which helps stability, and returns on equity are positive (~8.9% in TTM). The main concern is the jump in leverage, which reduces financial flexibility if operating conditions soften.

Cash Flow

Cash generation is positive but uneven, with a notable recent weakening. Operating cash flow fell to $7.8M in TTM (Trailing-Twelve-Months) from $10.5M in FY2025 annual, and free cash flow dropped sharply to ~$1.3M in TTM (down ~68.8%). Free cash flow is also low relative to earnings in TTM (~17% of net income), suggesting profits are not translating into cash as efficiently. While FY2025 annual showed stronger free cash flow (~$4.7M), the TTM step-down and historical volatility (including negative free cash flow in FY2023) weigh on the score.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	205.25M	188.32M	174.40M	157.96M	137.04M
Gross Profit	39.00M	40.90M	32.83M	40.36M	28.66M
EBITDA	16.94M	13.45M	13.25M	15.97M	24.49M
Net Income	5.03M	3.36M	4.00M	6.31M	11.78M
Balance Sheet
Total Assets	140.62M	142.08M	145.77M	147.49M	128.00M
Cash, Cash Equivalents and Short-Term Investments	20.09M	21.40M	25.53M	42.14M	32.68M
Total Debt	47.12M	50.23M	51.36M	55.92M	51.31M
Total Liabilities	61.53M	66.67M	70.86M	74.15M	67.37M
Stockholders Equity	65.16M	61.22M	59.23M	55.67M	51.22M
Cash Flow
Free Cash Flow	4.68M	1.39M	-10.18M	948.00K	2.73M
Operating Cash Flow	10.51M	6.63M	8.49M	10.50M	14.05M
Investing Cash Flow	-6.12M	-5.14M	-18.56M	-9.54M	-11.59M
Financing Cash Flow	-5.70M	-5.62M	-6.54M	8.50M	294.00K

Flanigan's Enterprises Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDL, the sentiment is Positive. The current price of 28 is below the 20-day moving average (MA) of 32.55, below the 50-day MA of 31.34, and below the 200-day MA of 30.64, indicating a neutral trend. The MACD of 0.33 indicates Positive momentum. The RSI at 48.74 is Neutral, neither overbought nor oversold. The STOCH value of 33.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BDL.

Flanigan's Enterprises Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RAVE	78 Outperform	$42.63M	15.02	20.05%	―	0.35%	9.25%
BDL	64 Neutral	$59.48M	10.28	7.97%	1.89%	8.99%	49.97%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
STKS	48 Neutral	$62.83M	-0.55	-51.90%	―	51.57%	-367.14%
ARKR	46 Neutral	$25.06M	-1.83	-29.84%	―	-9.70%	-194.23%
NDLS	43 Neutral	$31.25M	-0.69	―	―	-0.35%	-37.02%

Flanigan's Enterprises Corporate Events

Flanigan’s Enterprises announces broad executive and board reshuffle

Flanigan’s Enterprises announced a sweeping leadership reshuffle taking effect between December 31, 2025, and January 8, 2026, involving changes across its executive team and board roles. Chief Operating Officer and Executive Vice President August H. Bucci will step down from his executive positions on December 31, 2025, but remain on the board, while James G. Flanigan II will relinquish his titles as President and Chairman on January 8, 2026, yet continue as Chief Executive Officer and a director with his compensation structure unchanged. On January 8, 2026, Chief Financial Officer Jeffrey D. Kastner will become Chief Legal Officer and Chairman of the Board, retaining his roles as General Counsel, Secretary, and director without a change in compensation; Christopher O’Neil will move from Vice President of Package Operations to President with a new annual base salary of $464,000 and will remain on the board; Director of Accounting Allison Govoni, a company veteran since 2007 with extensive accounting and controller experience, will be promoted to Chief Financial Officer with an annual base salary of $222,000; and Director of Operations Peter Bruce, who joined in 2016 and has held key operational posts, will advance to Chief Operating Officer with an annual base salary of $272,000. The reorganization consolidates leadership continuity while elevating long-tenured internal talent to top finance, legal, operational, and presidential roles, signaling a succession-focused transition that maintains stability in key board and executive positions.

The most recent analyst rating on (BDL) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Flanigan’s Enterprises stock, see the BDL Stock Forecast page.