BJ's Restaurants (BJRI)
NASDAQ:BJRI
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BJ's Restaurants
(NASDAQ:BJRI)
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Rating:70Outperform
Price Target:
$47.00
▲(19.93% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by improving fundamentals (profitability and cash flow recovery) and constructive earnings-call momentum (traffic-led comps, margin progress, and debt reduction). Technicals are supportive with strong trend strength, though near-overbought signals add short-term risk. Valuation is reasonable but not clearly discounted, and leverage/cash-conversion volatility temper the overall rating.
Positive Factors
Sustained Traffic-Led Growth
Consecutive quarters of traffic-led same-store sales growth show durable demand and improving guest frequency. Persistent traffic gains support higher throughput, better fixed-cost absorption and more stable revenue per unit, strengthening unit economics over the medium term.
Negative Factors
Elevated Leverage
A relatively high debt burden limits financial flexibility and raises sensitivity to revenue or margin shocks. Continued leverage constrains free cash allocation toward growth or buybacks and increases refinancing and interest-rate risk during periods of volatility, affecting multi-quarter planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Traffic-Led Growth
Consecutive quarters of traffic-led same-store sales growth show durable demand and improving guest frequency. Persistent traffic gains support higher throughput, better fixed-cost absorption and more stable revenue per unit, strengthening unit economics over the medium term.
Read all positive factors
BJ's Restaurants (BJRI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$896.16M
Dividend YieldN/A
Average Volume (3M)345.68K
Price to Earnings (P/E)20.6
Beta (1Y)1.28
Revenue Growth3.02%
EPS Growth110.25%
CountryUS
Employees21,230
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)2.06
Shares Outstanding21,016,924
10 Day Avg. Volume444,254
30 Day Avg. Volume345,683
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)2.36
Price to Sales (P/S)0.62
P/FCF Ratio21.11
Enterprise Value/Market Cap1.52
Enterprise Value/Revenue0.97
Enterprise Value/Gross Profit1.66
Enterprise Value/Ebitda10.43
Forecast
1Y Price Target
$42.43Price Target Upside8.26% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)2.33
Revenue Forecast (FY)$1.44B
BJ's Restaurants Business Overview & Revenue Model
Company Description
BJ's Restaurants, Inc. owns and operates casual dining restaurants in the United States. The company's restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 19, 2022, ...
How the Company Makes Money
BJ's Restaurants makes money primarily through restaurant sales generated at its company-owned BJ's Restaurant & Brewhouse locations. The largest revenue stream is food sales (menu items sold for dine-in), complemented by beverage alcohol sales (i...
BJ's Restaurants Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call emphasized multiple signs of positive momentum: consecutive quarters of traffic and sales growth, margin expansion, outperformance vs. Black Box benchmarks, product wins (burgers, pizza, Pizookies), improved guest and team metrics, and meaningful debt reduction. Headwinds (weather, commodity inflation — especially beef — workers' compensation driven labor costs, limited check expansion in Q1, and one-time depreciation) are manageable and are being addressed through menu updates, pricing actions, operational improvements, and phased marketing reinvestment. Given the balance of durable operational improvements, margin progress, product momentum, and a clear development roadmap against transitory/moderate cost pressures, the tone is constructive.Positive Updates
Consecutive Growth Streak
Seventh consecutive quarter of sales and traffic growth and sixth consecutive quarter of profit dollar growth and EBITDA margin expansion, demonstrating sustained momentum.
Negative Updates
Weather-Related Volatility
Approximately 70 basis points of year-over-year weather-related headwinds in Q1 and multiple severe weather episodes introduced quarter-to-quarter volatility that required real-time operational adjustments.
Read all updates
Q1-2026 Updates
Positive
Negative
Consecutive Growth Streak
Seventh consecutive quarter of sales and traffic growth and sixth consecutive quarter of profit dollar growth and EBITDA margin expansion, demonstrating sustained momentum.
Read all positive updates
Company Guidance
Management reiterated full‑year 2026 guidance, modeling comparable restaurant sales of 1%–3% (with average check assumed flat to +1%) while noting strong traffic momentum (Q1 comps +2.4% driven by +2.2% traffic and a 3.3% outperformance vs. Black Box); they expect Q2 to be the peak for commodity inflation with Q2 cost of sales modestly above Q1’s 25.1% but plan a mid‑year menu update and pricing to fully offset inflation in H2, expect occupancy & operating expense around 23% of sales in Q2 (Q1 was 22.7%), will keep full‑year marketing roughly flat year‑over‑year at ~2.2% of sales but shift spend into Q2, target pre‑opening costs of about $700k per new unit with ~80% of those costs in Q4 as two restaurants open this year, and expect workers’ compensation pressures to normalize and profit growth to accelerate in the back half of the year.BJ's Restaurants Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.41B | 1.40B | 1.36B | 1.33B | 1.28B | 1.09B |
| Gross Profit | 819.03M | 1.05B | 1.01B | 177.79M | 144.76M | 129.63M |
| EBITDA | 130.58M | 128.55M | 86.49M | 86.01M | 64.97M | 58.57M |
| Net Income | 44.35M | 48.81M | 16.69M | 19.66M | 4.08M | -3.61M |
Balance Sheet | ||||||
| Total Assets | 999.07M | 1.02B | 1.04B | 1.22B | 1.21B | 1.04B |
| Cash, Cash Equivalents and Short-Term Investments | 22.67M | 23.78M | 26.10M | 29.07M | 24.87M | 38.53M |
| Total Debt | 462.65M | 490.76M | 500.61M | 519.50M | 532.71M | 525.26M |
| Total Liabilities | 626.54M | 649.26M | 671.05M | 856.87M | 867.84M | 701.39M |
| Stockholders Equity | 372.53M | 366.19M | 370.02M | 365.76M | 345.51M | 333.77M |
Cash Flow | ||||||
| Free Cash Flow | 80.15M | 40.90M | 24.57M | 6.92M | -27.48M | 22.10M |
| Operating Cash Flow | 148.88M | 110.51M | 101.47M | 105.84M | 51.12M | 64.28M |
| Investing Cash Flow | -68.67M | -69.57M | -76.89M | -98.91M | -71.91M | -42.17M |
| Financing Cash Flow | -76.54M | -43.26M | -27.55M | -2.73M | 7.13M | -35.25M |
BJ's Restaurants Technical Analysis
Positive
39.19
Price Trends
37.70
Positive
39.63
Positive
36.92
Positive
Market Momentum
1.27
Negative
62.76
Neutral
75.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BJRI, the sentiment is Positive. The current price of 39.19 is below the 20-day moving average (MA) of 39.77, above the 50-day MA of 37.70, and above the 200-day MA of 36.92, indicating a bullish trend. The MACD of 1.27 indicates Negative momentum. The RSI at 62.76 is Neutral, neither overbought nor oversold. The STOCH value of 75.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BJRI.
BJ's Restaurants Risk Analysis
BJ's Restaurants disclosed 25 risk factors in its most recent earnings report. BJ's Restaurants reported the most risks in the "Ability to Sell" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BJ's Restaurants Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $896.16M | 20.55 | 11.97% | ― | 3.02% | 110.25% | |
67 Neutral | $2.97B | 12.87 | 38.34% | 2.11% | 5.14% | 8.17% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $654.95M | 2.05 | 5.91% | 10.60% | -5.10% | ― | |
54 Neutral | $620.39M | -124.65 | -0.84% | ― | 18.74% | 82.49% | |
48 Neutral | $297.92M | -235.32 | 3.37% | ― | 2.37% | -49.32% |
* Consumer Cyclical Sector Average
BJRI
BJ's Restaurants
42.12
0.55
1.32%
CAKE
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13.55%
BLMN
Bloomin' Brands
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2.00%
KRUS
Kura Sushi USA
53.22
-10.26
-16.16%
PTLO
Portillo's
3.98
-7.52
-65.39%
BJ's Restaurants Corporate Events
Business Operations and StrategyExecutive/Board Changes
BJ’s Restaurants Appoints New Principal Accounting Officer
Positive
Apr 10, 2026
On April 10, 2026, BJ’s Restaurants, Inc. announced it had appointed Ashley A. Van as Senior Vice President and Principal Accounting Officer, effective May 11, 2026, while current Chief Financial Officer J. Todd Wilson will cease serving as ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.