Noble Roman's Inc (NROM)
OTHER OTC:NROM
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Noble Roman's
(OTC:NROM)
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Rating:54Neutral
Price Target:
$0.34
▼(-0.88% Downside)
Action:DowngradedDate:01/29/26
The score is held back mainly by balance-sheet risk and limited debt-service capacity despite a clear operating and cash-flow rebound. Valuation is supportive given the low P/E, while technical indicators show weak near-term momentum. Earnings-call commentary was generally constructive on profitability and expansion, but refinancing and macro/commodity pressures remain meaningful risks.
Positive Factors
Diversified Revenue Streams
Noble Roman's multi-channel model—company stores, franchising and retail frozen products—creates durable, less capital-intensive cash flows. Franchising supplies steady royalties and supports expansion with lower capex, while retail distribution diversifies demand beyond restaurant traffic.
Negative Factors
Elevated Leverage
A debt-to-equity ratio around 3x is high for a restaurant operator and constrains financial flexibility. Elevated leverage raises vulnerability to demand or cost shocks, limits the ability to invest opportunistically, and makes the company more dependent on consistent cash generation to meet obligations.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Revenue Streams
Noble Roman's multi-channel model—company stores, franchising and retail frozen products—creates durable, less capital-intensive cash flows. Franchising supplies steady royalties and supports expansion with lower capex, while retail distribution diversifies demand beyond restaurant traffic.
Read all positive factors
Noble Roman's (NROM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.41M
Dividend YieldN/A
Average Volume (3M)16.55K
Price to Earnings (P/E)1.6
Beta (1Y)0.25
Revenue Growth6.05%
EPS Growth37.10%
CountryUS
Employees36
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.03
Shares Outstanding22,215,511
10 Day Avg. Volume32,600
30 Day Avg. Volume16,555
Financial Highlights & Ratios
PEG Ratio24.32
Price to Book (P/B)3.49
Price to Sales (P/S)0.51
P/FCF Ratio9.56
Enterprise Value/Market Cap2.89
Enterprise Value/Revenue1.18
Enterprise Value/Gross Profit3.75
Enterprise Value/Ebitda5.60
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
Noble Roman's Business Overview & Revenue Model
Company Description
Noble Roman's, Inc. sells and services franchises, and licenses and operates foodservice locations for stand-alone restaurants and non-traditional foodservice operations. The company franchises, licenses, and operates foodservice locations under t...
How the Company Makes Money
Noble Roman's generates revenue through multiple channels. The primary revenue streams include sales from company-owned restaurants, franchise fees, and royalties from franchisees. The company earns significant income from selling food products to...
Noble Roman's Earnings Call Summary
Earnings Call Date:Nov 14, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call highlighted significant growth in revenue, net income, and margins, along with a successful expansion of franchise units. However, challenges such as a drop in consumer sentiment, commodity price fluctuations, and refinancing uncertainties posed concerns.Positive Updates
Increase in Net Income Before Taxes
Net income before taxes increased to $578,918 for the quarter, up from $193,314 in 2024.
Negative Updates
Drop in Consumer Sentiment
Consumer sentiment has dropped to a 3-year low, down 29.9% compared to last year.
Read all updates
Q3-2025 Updates
Positive
Negative
Increase in Net Income Before Taxes
Net income before taxes increased to $578,918 for the quarter, up from $193,314 in 2024.
Read all positive updates
Company Guidance
During the call, Noble Roman's provided a detailed overview of their financial performance metrics for the third quarter of fiscal year 2025. The company reported a net income before taxes of $578,918, a significant increase from $193,314 in the same period of 2024. Total revenue rose by 6.8% compared to the previous year, with same-store sales in the Craft Pizza & Pub segment up by 4.2%. Margins at these locations increased from 7.9% to 12.8%. The convenience store program saw a 14.8% rise in margin contribution, reaching approximately $1.1 million, with the margin rate for this segment climbing to 73.4% from 65.2% the previous year. The adjusted EBITDA for the trailing twelve months increased from over $3 million at the end of 2024 to approximately $3,825,000 at the end of Q3 2025. The company also discussed plans to open about 27 new units in Q4 and highlighted ongoing refinancing efforts, with current terms secured until June 2026. Despite challenges with consumer sentiment and external factors like the government shutdown, the company has maintained a value-oriented strategy and plans to introduce new products to enhance margins.Noble Roman's Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
38
Negative
Cash Flow
56
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.68M | 15.15M | 14.37M | 14.45M | 13.88M | 11.54M |
| Gross Profit | 4.93M | 4.65M | 5.54M | 3.05M | 4.38M | 4.41M |
| EBITDA | 3.30M | 1.98M | 3.58M | 1.37M | 3.07M | -1.15M |
| Net Income | 974.44K | -3.17K | 1.46M | -1.06M | 509.46K | -5.38M |
Balance Sheet | ||||||
| Total Assets | 16.08M | 16.77M | 18.48M | 18.34M | 19.38M | 18.42M |
| Cash, Cash Equivalents and Short-Term Investments | 719.50K | 710.23K | 872.34K | 785.52K | 1.26M | 1.19M |
| Total Debt | 12.79M | 11.57M | 12.89M | 14.86M | 14.72M | 14.32M |
| Total Liabilities | 12.70M | 14.55M | 16.29M | 16.48M | 16.48M | 16.06M |
| Stockholders Equity | 3.39M | 2.22M | 2.19M | 1.87M | 2.89M | 2.36M |
Cash Flow | ||||||
| Free Cash Flow | 1.18M | 808.66K | 1.57M | -477.99K | 69.15K | -408.96K |
| Operating Cash Flow | 1.32M | 896.97K | 1.57M | 29.58K | 1.52M | 1.68M |
| Investing Cash Flow | -135.51K | -88.30K | 13.82K | -507.57K | -1.45M | -2.08M |
| Financing Cash Flow | -929.29K | -887.41K | -1.50M | 0.00 | 1.39B | 1.39M |
Noble Roman's Technical Analysis
Negative
0.34
Price Trends
0.33
Negative
0.30
Negative
0.24
Positive
Market Momentum
>-0.01
Negative
46.59
Neutral
38.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NROM, the sentiment is Negative. The current price of 0.34 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.33, and above the 200-day MA of 0.24, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.59 is Neutral, neither overbought nor oversold. The STOCH value of 38.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NROM.
Noble Roman's Risk Analysis
Noble Roman's disclosed 12 risk factors in its most recent earnings report. Noble Roman's 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
Noble Roman's Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $33.40M | 18.57 | 19.70% | ― | 0.35% | 9.25% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | $6.41M | 1.56 | 36.45% | ― | 6.05% | 37.10% | |
53 Neutral | $10.45M | -1.65 | -13.30% | ― | -4.16% | 29.52% | |
50 Neutral | $24.52M | 6.41 | -29.84% | ― | -9.70% | -194.23% | |
48 Neutral | $13.30M | 17.64 | 3.18% | ― | 1.84% | 12.10% |
* Consumer Cyclical Sector Average
NROM
Noble Roman's
0.29
-0.03
-10.00%
ARKR
Ark Restaurants
6.80
-1.50
-18.07%
GTIM
Good Times Restaurants
1.26
-0.71
-36.04%
RAVE
Rave Restaurant Group
2.35
0.17
7.80%
BTBD
BT Brands
1.62
0.44
37.29%
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.