BT Brands (BTBD)
NASDAQ:BTBD
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BT Brands
(NASDAQ:BTBD)
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Rating:48Neutral
Price Target:
$1.00
▼(-33.77% Downside)
Action:Reiterated
Date:05/19/26
The score is held back primarily by weak technical momentum (below all major moving averages with negative MACD) and continued losses reflected in margins and a negative P/E. Offsetting these risks, cash flow has turned positive and leverage is moderate, indicating some progress in the underlying turnaround.
Positive Factors
Positive cash generation
A return to positive operating and free cash flow provides durable funding for day-to-day operations and small reinvestments without heavy external financing. This cash-flow rebound from 2023–2024 improves solvency and gives management runway to execute a multi-quarter turnaround.
Negative Factors
Persistent operating losses
Sustained negative EBIT and net margins erode retained earnings and limit the company’s ability to self-fund expansion. Continued operating losses will pressure equity and constrain investments in marketing, unit-level improvements, or franchise support without consistent margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive cash generation
A return to positive operating and free cash flow provides durable funding for day-to-day operations and small reinvestments without heavy external financing. This cash-flow rebound from 2023–2024 improves solvency and gives management runway to execute a multi-quarter turnaround.
Read all positive factors
BT Brands (BTBD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.92M
Dividend YieldN/A
Average Volume (3M)129.35K
Price to Earnings (P/E)―
Beta (1Y)0.44
Revenue Growth-11.88%
EPS Growth49.44%
CountryUS
Employees40
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)-0.18
Shares Outstanding6,184,724
10 Day Avg. Volume51,870
30 Day Avg. Volume129,348
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)1.36
Price to Sales (P/S)0.65
P/FCF Ratio78.07
Enterprise Value/Market Cap1.41
Enterprise Value/Revenue0.74
Enterprise Value/Gross Profit3.06
Enterprise Value/Ebitda86.22
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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, ...
How the Company Makes Money
BT Brands makes money primarily through restaurant-level sales generated at its company-owned locations (food and beverage revenue from walk-in customers and other off-premise ordering channels). Where it has franchised locations, it also generate...
BT Brands Earnings Call Summary
Earnings Call Date:Mar 28, 2024
(Q4-2023)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a challenging year for BT Brands with a significant net loss. However, there are positive signs of growth and potential improvements in various segments like Keegan's and Burger Time locations. The company remains optimistic about future performance based on its strong financial position and strategic plans.Positive Updates
Sales Growth Despite Challenges
BT Brands reported a 15% increase in sales, reaching $14 million, despite not making any new acquisitions during the year.
Negative Updates
Net Loss for the Year
BT Brands reported a net loss of $887,368 for the year, with significant losses attributed to Bagger Dave's and nonrecurring expenses.
Read all updates
Q4-2023 Updates
Positive
Negative
Sales Growth Despite Challenges
BT Brands reported a 15% increase in sales, reaching $14 million, despite not making any new acquisitions during the year.
Read all positive updates
Company Guidance
During the BT Brands earnings call for Q4 2023, Kenneth Brimmer outlined the company's financial performance and future strategy. The company reported a net loss of $887,368 on $14 million in sales, marking a 15% sales increase compared to the previous year. Brimmer attributed 35% of the loss to Bagger Dave's, with costs of $347,000. Additionally, legal and professional expenses tied to Noble Roman's board efforts amounted to over $100,000. Despite these setbacks, BT Brands holds $6.9 million in cash and aims to revamp its operations by divesting its Dairy Queen franchise and rebranding Bagger Dave's, projecting potential revenue growth to $12 million with an EBITDA margin target of 15%. Keegan's, another venture, aims to achieve $3.2 million in annual sales with 10% profitability, while the Village Bier Garten needs to surpass $30,000 weekly to maintain profitability. Overall, Brimmer expressed optimism for future profitability and growth through potential acquisitions and operational improvements.BT Brands Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.10M | 13.49M | 14.82M | 14.08M | 12.60M | 8.45M |
| Gross Profit | 3.18M | 3.88M | 3.09M | 3.02M | 3.62M | 2.78M |
| EBITDA | 113.15K | 42.49K | -1.26M | -336.22K | -178.48K | 1.21M |
| Net Income | -1.11M | -687.84K | -2.31M | -887.37K | -562.28K | 607.85K |
Balance Sheet | ||||||
| Total Assets | 9.98M | 10.75M | 12.00M | 14.61M | 16.77M | 14.51M |
| Cash, Cash Equivalents and Short-Term Investments | 3.64M | 4.44M | 4.27M | 6.69M | 8.14M | 12.39M |
| Total Debt | 3.57M | 1.76M | 4.05M | 4.38M | 5.64M | 3.00M |
| Total Liabilities | 4.30M | 4.33M | 5.03M | 5.42M | 6.62M | 3.88M |
| Stockholders Equity | 5.68M | 6.42M | 6.97M | 9.19M | 10.15M | 10.63M |
Cash Flow | ||||||
| Free Cash Flow | 405.29K | 111.95K | -1.22M | -747.17K | -266.60K | 606.03K |
| Operating Cash Flow | 493.96K | 284.88K | -723.50K | -258.79K | 211.80K | 813.96K |
| Investing Cash Flow | -209.04K | -1.06M | -2.18M | 4.71M | -11.04M | -207.92K |
| Financing Cash Flow | -340.04K | -329.72K | -440.85K | -1.30M | 590.70K | 10.46M |
BT Brands Technical Analysis
Negative
1.51
Price Trends
1.63
Negative
1.51
Negative
1.61
Negative
Market Momentum
-0.19
Positive
38.03
Neutral
66.77
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 1.51 is above the 20-day moving average (MA) of 1.46, below the 50-day MA of 1.63, and below the 200-day MA of 1.61, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 38.03 is Neutral, neither overbought nor oversold. The STOCH value of 66.77 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $42.07M | 11.28 | 19.21% | ― | 3.20% | 9.92% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $13.83M | 20.73 | 3.18% | ― | -5.12% | 73.41% | |
52 Neutral | $4.80M | 457.25 | 0.46% | ― | 0.23% | -177.05% | |
48 Neutral | $6.92M | -3.24 | -13.30% | ― | -11.88% | 49.44% | |
43 Neutral | $24.34M | -3.44 | -29.84% | ― | -11.28% | 36.59% | |
40 Underperform | $17.45M | ― | 2210.86% | ― | 36.54% | -15.64% |
* Consumer Cyclical Sector Average
BTBD
BT Brands
1.17
-0.11
-8.59%
ARKR
Ark Restaurants
6.60
-4.92
-42.71%
GTIM
Good Times Restaurants
1.28
-0.30
-18.99%
RAVE
Rave Restaurant Group
2.89
0.13
4.71%
REBN
Reborn Coffee, Inc.
2.21
-0.52
-19.05%
CHSN
Chanson International Holding Class A
1.23
-3,838.77
-99.97%
BT Brands Corporate Events
Regulatory Filings and Compliance
BT Brands Updates S-3 Shelf with Latest Audit
Neutral
Apr 6, 2026
BT Brands, Inc. has obtained and filed the consent of its independent registered public accounting firm to allow the firm’s audit report dated March 30, 2026, on the company’s consolidated financial statements for the fiscal year ended...
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.