BT Brands (BTBD) AI Stock Analysis

• Market Cap: $8.08M
• Dividend Yield: N/A
• Average Volume (3M): 129.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.43
• Revenue Growth: -4.16%
• EPS Growth: 29.52%
• Country: US
• Employees: 40
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 0.15
• Shares Outstanding: 6,154,724
• 10 Day Avg. Volume: 51,870
• 30 Day Avg. Volume: 129,348
• PEG Ratio: -0.02
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 0.60
• P/FCF Ratio: -7.33
• Enterprise Value/Market Cap: 1.68
• Enterprise Value/Revenue: 0.96
• Enterprise Value/Gross Profit: 4.34
• Enterprise Value/Ebitda: 61.44
• 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: 48 Neutral
• Price Target: $1.50 ▲(10.29% Upside)

BT Brands' overall stock score is primarily impacted by its financial performance, which is challenged by declining revenues and negative profitability margins. Technical analysis indicates mixed momentum, with some bearish signals. Valuation is weak due to a negative P/E ratio and lack of dividend yield, further impacting the score.

Positive Factors

Operational Efficiency

The significant increase in restaurant-level adjusted EBITDA indicates improved operational efficiencies, which can enhance profitability and competitiveness over the long term.

Strategic Merger

The merger with Aero Systems could provide BT Brands access to new markets and technologies, potentially boosting growth and profitability in the long run.

Debt Management

Improved debt management enhances financial stability and flexibility, allowing the company to better navigate economic fluctuations and invest in growth opportunities.

Negative Factors

Declining Revenue

Declining revenue suggests challenges in maintaining market share and customer base, which could impact long-term growth and profitability if not addressed.

Profitability Challenges

Negative net profit margins highlight persistent profitability issues, which may hinder the company's ability to reinvest in business growth and innovation.

Cash Flow Issues

Negative cash flows can limit the company's ability to fund operations and growth initiatives, potentially affecting long-term financial health and stability.

BT Brands Business Overview & Revenue Model

Company Description

BT Brands, Inc. owns and operates fast-food restaurants in the north central region of United States. The company operates nine Burger Time restaurants located in Minnesota, North Dakota, and South Dakota; and a Dairy Queen franchise in Ham Lake, Minnesota. Its Burger Time restaurants provide various burgers and other food products, such as chicken sandwiches, pulled pork sandwiches, side dishes, and soft drinks; and Dairy Queen restaurant offers burgers, chicken, sides, ice cream and other desserts, and various beverages. The company was founded in 1987 and is based in West Fargo, North Dakota.

How the Company Makes Money

BT Brands generates revenue through multiple streams, primarily from franchise fees, royalties, and direct sales from company-owned locations. Franchise fees are collected from new franchisees who pay for the right to use the BT Brands' trademarks and business model. Additionally, BT Brands earns ongoing royalty payments based on a percentage of the franchisee's sales. The company's direct sales from its own outlets also contribute significantly to its revenue. Strategic partnerships with suppliers and distributors enable cost-effective procurement and inventory management, further enhancing profitability. Overall, BT Brands' revenue model is built on a combination of franchising, direct retail sales, and collaborative partnerships that ensure a steady income flow.

BT Brands Financial Statement Overview

Summary

BT Brands is experiencing financial difficulties with declining revenues and negative profitability margins. While leverage management has improved, cash flow challenges persist. The company needs to address operational inefficiencies and enhance revenue growth to improve its financial health.

Income Statement

BT Brands has experienced declining revenue growth with a negative trajectory in the TTM period. The gross profit margin has improved slightly, but net profit margins remain negative, indicating ongoing profitability challenges. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The company's debt-to-equity ratio has improved in the TTM period, indicating better leverage management. However, return on equity remains negative, highlighting profitability issues. The equity ratio is stable, suggesting a balanced asset structure.

Cash Flow

BT Brands faces negative operating and free cash flows, with a declining free cash flow growth rate. The operating cash flow to net income ratio is negative, indicating cash flow challenges. However, the free cash flow to net income ratio is positive, suggesting some efficiency in converting net income to cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.04M	14.82M	14.08M	12.60M	8.45M	8.16M
Gross Profit	3.12M	3.09M	1.71M	3.62M	2.78M	2.73M
EBITDA	220.45K	-1.26M	-336.22K	-178.48K	1.21M	1.29M
Net Income	-935.92K	-2.31M	-887.37K	-562.28K	607.85K	791.99K
Balance Sheet
Total Assets	11.94M	12.00M	14.61M	16.77M	14.51M	3.39M
Cash, Cash Equivalents and Short-Term Investments	4.74M	4.27M	6.69M	8.14M	12.39M	1.32M
Total Debt	3.74M	4.05M	4.38M	5.64M	3.00M	3.18M
Total Liabilities	4.21M	5.03M	5.42M	6.62M	3.88M	4.09M
Stockholders Equity	7.72M	6.97M	9.19M	10.15M	10.63M	-702.32K
Cash Flow
Free Cash Flow	-585.40K	-1.22M	-747.17K	-266.60K	606.03K	1.24M
Operating Cash Flow	-123.60K	-723.50K	-258.79K	211.80K	813.96K	1.40M
Investing Cash Flow	-1.45M	-2.18M	4.71M	-11.04M	-207.92K	24.58K
Financing Cash Flow	-236.91K	-440.85K	-1.30M	590.70K	10.46M	-358.96K

BT Brands Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.36
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BTBD, the sentiment is Negative. The current price of 1.36 is below the 20-day moving average (MA) of 1.52, below the 50-day MA of 1.64, and below the 200-day MA of 1.51, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 36.70 is Neutral, neither overbought nor oversold. The STOCH value of 21.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BTBD.

BT Brands Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RAVE	76 Outperform	$40.50M	14.56	20.05%	―	0.35%	9.25%
CHSN	62 Neutral	$99.41M	3.36	-1.73%	―	21.20%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
GTIM	51 Neutral	$13.61M	11.02	3.85%	―	1.84%	12.10%
BTBD	48 Neutral	$8.08M	-8.94	-11.53%	―	-4.16%	29.52%
ARKR	40 Underperform	$21.71M	-1.89	-29.84%	―	-9.70%	-194.23%
REBN	39 Underperform	$8.73M	-0.54	―	―	21.10%	-18.56%

BT Brands Corporate Events

BT Brands Expands ATM Offering Program

BT Brands, Inc. announced an amendment to its Equity Distribution Agreement with Maxim Group LLC, initially established on December 13, 2024, to increase the size of its ATM Offering Program from $3,005,000 to $3,565,880. This adjustment, approved by the company’s board of directors and formalized on November 21, 2025, allows BT Brands to sell additional shares of its common stock, potentially impacting its market presence and providing further capital for operations.