Flanigan's Enterprises (BDL) AI Stock Analysis

• Market Cap: $64.31M
• Dividend Yield: 1.89%
• Average Volume (3M): 1.54K
• Price to Earnings (P/E): 17.1
• Beta (1Y): 0.28
• 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: 1.72
• Enterprise Value/Revenue: 0.53
• Enterprise Value/Gross Profit: 2.75
• Enterprise Value/Ebitda: 6.14
• 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: 65 Neutral
• Price Target: $35.00 ▲(25.00% Upside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is mainly held back by financial fundamentals: margin compression, higher leverage, and notably weaker recent free cash flow. Offsetting factors include a constructive technical setup (price above key moving averages with positive MACD) and a reasonable valuation (P/E 10.53 with a ~1.68% dividend yield), while corporate events are modestly supportive due to governance continuity and succession planning.

Positive Factors

Consistent Revenue Growth

Steady top-line expansion from $137M (FY2021) to $205M (FY2025) and $207.6M TTM indicates scalable customer demand and successful expansion. Persistent revenue growth provides a durable base to invest in operations, improve unit economics, and support medium-term strategic initiatives.

Diversified Revenue Streams & Loyal Brand

Multiple channels (dine‑in, takeout, catering), beverage partnerships and merchandise diversify cash flows and reduce dependence on any single format. Coupled with repeat business and brand loyalty, this structural mix increases resilience to local demand shifts and supports steadier revenue over time.

Governance Continuity and Succession

Board re‑elections plus an internal leadership reshuffle that promotes long‑tenured executives reflect deliberate succession planning and governance stability. Internal promotions preserve institutional knowledge, lower execution risk, and support consistent strategy execution across the medium term.

Negative Factors

Margin Compression

A decline in net margin from ~8.6% to ~2.5–2.8% materially reduces profitability and economic returns. Persistently lower margins limit internal funding for growth, reduce buffers against cost shocks or demand downturns, and make it harder to generate sustainable returns without structural cost or mix improvements.

Rising Leverage

Debt rising to ~$69M and debt/equity around 1.05 reduces financial flexibility and increases fixed obligations. Higher leverage elevates interest and refinancing risk, constrains the ability to fund capex or weather slower sales, and tightens capital allocation choices over the medium term.

Weak and Volatile Free Cash Flow

A ~68.8% drop in FCF to ~$1.3M TTM and cash conversion near 17% of net income shows poor cash realization. Low and volatile free cash flow limits debt paydown, dividends, and reinvestment, reducing financial resilience and the firm's ability to fund strategic initiatives without external financing.

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 has grown steadily (FY2021 $137.0M to FY2025 $205.2M; TTM $207.6M), but profitability has compressed meaningfully (net margin down to ~2.8% TTM from ~8.6% in FY2021). Leverage increased in TTM (debt ~$69.2M; debt-to-equity ~1.05), and cash conversion weakened with TTM free cash flow falling to ~$1.3M and remaining low relative to earnings (~17%).

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: Negative
• 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 33.33, below the 50-day MA of 32.62, and below the 200-day MA of 31.34, indicating a bullish trend. The MACD of 0.46 indicates Negative momentum. The RSI at 56.11 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 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	$37.66M	18.57	19.70%	―	0.35%	9.25%
BDL	65 Neutral	$64.31M	17.07	8.92%	1.89%	8.99%	49.97%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ARKR	50 Neutral	$24.77M	6.41	-29.84%	―	-9.70%	-194.23%
STKS	48 Neutral	$54.74M	-0.60	-51.90%	―	51.57%	-367.14%
NDLS	43 Neutral	$39.15M	-0.81	203.92%	―	-0.35%	-37.02%

Flanigan's Enterprises Corporate Events

Flanigan’s Shareholders Reelect Directors, Affirm Governance Stability

At Flanigan’s Enterprises, Inc.’s Annual Meeting of Shareholders held on February 27, 2026, 1,303,883 of 1,858,647 outstanding common shares were represented, establishing a 70.15% quorum for the proceedings. Shareholders elected all Board nominees—August H. Bucci, Christopher J. Nelms and Patrick J. Flanigan—to serve as directors until the 2029 Annual Meeting or until successors are chosen, while the terms of six incumbent directors continued, underscoring continuity in the company’s governance structure and leadership oversight.

These voting outcomes indicated broad shareholder support for the current board composition and its strategic direction, reinforcing management’s mandate to steer the restaurant and hospitality operator through its next several years of operations. The maintenance of a largely unchanged board lineup signaled stability for investors and other stakeholders, suggesting no major governance disputes and a steady approach to corporate policy and oversight in the near term.

The most recent analyst rating on (BDL) stock is a Buy with a $37.00 price target. To see the full list of analyst forecasts on Flanigan’s Enterprises stock, see the BDL Stock Forecast page.

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.