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Happy Belly Food Group
(HBFG)
Happy Belly Food Group (HBFG) vs. iShares MSCI Canada ETF (EWC)
Happy Belly Food Group Business Overview & Revenue Model
Happy Belly Food Group Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.95M | 9.07M | 5.41M | 2.73M | 1.20M | 102.13K |
| Gross Profit | 9.67M | 5.46M | 2.96M | 1.21M | 606.57K | 102.13K |
| EBITDA | -284.65K | -938.00K | -678.00K | -1.94M | -26.00M | -4.27M |
| Net Income | -2.09M | -2.36M | -1.92M | -2.74M | -26.58M | -4.38M |
Balance Sheet | ||||||
| Total Assets | 13.77M | 9.34M | 5.85M | 4.28M | 3.67M | 5.29M |
| Cash, Cash Equivalents and Short-Term Investments | 3.06M | 3.56M | 1.58M | 1.16M | 1.01M | 4.14M |
| Total Debt | 8.06M | 5.20M | 5.34M | 2.90M | 338.02K | 70.22K |
| Total Liabilities | 10.89M | 6.91M | 6.41M | 3.50M | 592.71K | 799.24K |
| Stockholders Equity | 2.29M | 2.18M | -723.22K | 716.50K | 3.05M | 4.49M |
Cash Flow | ||||||
| Free Cash Flow | -353.26K | -1.03M | -1.08M | -1.74M | -4.18M | -1.80M |
| Operating Cash Flow | 868.35K | -888.54K | -722.92K | -1.62M | -4.18M | -1.78M |
| Investing Cash Flow | -1.82M | -12.73K | -350.68K | -31.03K | -664.55K | 144.59K |
| Financing Cash Flow | -202.79K | 3.12M | 1.24M | 1.82M | 1.64M | 5.47M |
Happy Belly Food Group Technical Analysis
Happy Belly Food Group Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | C$45.24M | 33.10 | 2.42% | ― | 41.69% | 134.37% | |
54 Neutral | $223.97M | -98.30 | -97.83% | ― | 144.66% | -11.39% | |
47 Neutral | $29.69M | -2.28 | -273.28% | ― | 15.68% | -10.62% | |
37 Underperform | C$11.44M | ― | ― | ― | 64.79% | 72.95% | |
25 Underperform | C$252.65M | -114.23 | ― | ― | 30.02% | 35.29% |
Happy Belly Food Group Corporate Events
Happy Belly Food Group has secured a prime real estate location in Toronto for its second combination store featuring iQ Food Co. and Heal Wellness. This expansion reflects the company’s strategy to optimize real estate efficiency and enhance customer accessibility by pairing complementary brands. The new location on Queen Street West is strategically positioned to attract the area’s health-conscious demographic, aligning with the fresh, wellness-driven menus of both brands. This move is part of Happy Belly’s broader growth strategy, which includes expanding its retail franchise locations across Canada.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group announced that its brand Heal Wellness has secured its first real estate location in Ottawa, marking a significant milestone in its expansion. This move is part of Happy Belly’s strategy to grow its footprint across Canada, supported by strong franchise partnerships and strategic real estate acquisitions. The expansion into Barrhaven, a growing suburb of Ottawa, is expected to capitalize on the area’s demand for healthy and convenient dining options, further solidifying Heal Wellness’s position as a leader in the açaí bowl market.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has appointed Dan Haroun to its Board of Directors, bringing his extensive leadership experience in the food, retail, and restaurant industries to the company. Haroun’s expertise in scaling brands and financial performance is expected to enhance Happy Belly’s strategic execution capabilities as it embarks on accelerated national and US expansion, aiming to establish itself as Canada’s leading restaurant consolidator.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has announced its 2026–2031 Compensation Growth Plans aimed at aligning executive and board compensation with long-term shareholder value. The plan includes stock options and performance warrants that reward executives only upon achieving sustained business performance and significant share price milestones. This strategy is designed to retain and incentivize leadership while ensuring their interests align with shareholders, reinforcing the company’s commitment to growth and market expansion.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has announced a definitive agreement to acquire the remaining 50% of Heal Wellness, a quick-service restaurant brand known for its smoothie bowls and açaí bowls. This acquisition will make Heal Wellness a wholly owned subsidiary of Happy Belly, enhancing its market presence with 27 operating stores and a pipeline of 168 additional locations across Canada and the U.S. The move is part of Happy Belly’s strategy to scale and franchise emerging restaurant brands, and it reflects the company’s commitment to expanding its wellness-focused dining options.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group’s Heal Wellness has announced the signing of its first real-estate location in Montreal, Quebec, marking a significant step in its coast-to-coast expansion. This move reflects the company’s strategic focus on Quebec as a priority growth market and demonstrates confidence in its scalable franchise model. With 27 locations already operating and 168 more in development, Heal Wellness aims to become North America’s leading smoothie bowl chain. The announcement underscores Happy Belly’s successful strategy in launching and scaling emerging brands, with 626 contractually committed retail franchise locations across its portfolio.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group’s Heal Wellness has announced the signing of a new location in South Surrey, British Columbia, marking the fourth location in a 10-unit agreement with a multi-unit franchisee. This expansion into a high-income, health-conscious community underscores the brand’s strategic growth in areas with strong demand for nutritious, convenient food options. The move is part of Happy Belly’s broader strategy to rapidly scale its brands across Canada, leveraging strong partnerships and a robust franchise support system to enhance its national presence.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Rosie’s Burgers, a boutique QSR restaurant brand under Happy Belly Food Group, is expanding its presence with the opening of a new location in Calgary, Alberta. This expansion is part of Rosie’s strategic growth plan, which includes both franchised and corporate store openings, aiming to establish the brand as a leading player in Canada’s smash burger market. The new location in Bridgeland, Calgary, is strategically chosen for its vibrant community and high foot traffic, promising a strong market for Rosie’s offerings. With 115 locations secured across Canada, Happy Belly is focused on accelerating growth through organic initiatives and strategic acquisitions, positioning itself as a major restaurant consolidator in the country.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group’s Rosie’s Burgers brand has secured its first real estate location in Quebec, specifically in the Mile End neighborhood of Montreal. This marks the first of ten planned locations in the Greater Montreal Area under a franchise agreement with Carma Hospitality. The expansion into Quebec is part of a broader strategy to rapidly scale Rosie’s Burgers across Canada, with 115 locations already secured under various agreements. The new location in Mile End, known for its vibrant culinary scene, is expected to capitalize on the area’s demand for innovative comfort food, further strengthening Rosie’s position in the Canadian market.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has finalized the earn-out agreement for its acquisition of the Via Cibo Restaurant Chain, which specializes in fast-casual Italian street food. The integration of Via Cibo into Happy Belly’s framework has led to increased EBITDA and expansion with new franchise locations. The company continues to leverage its asset-light franchise model to accelerate growth, aiming to become a leading restaurant consolidator in Canada. The transaction involves issuing shares to the sellers and is classified as a related party transaction under regulatory guidelines.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group’s Heal Wellness has signed a franchise agreement for Collingwood, Ontario, as part of its strategy to expand its footprint and become the leading smoothie bowl chain in North America. With 27 locations currently open and 168 in development, the company is actively working to grow its retail franchise locations, aiming to significantly expand its pipeline in the latter half of 2025 and 2026.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has appointed Josh Hone as Vice President of Finance to support its ongoing franchising demand and organic growth. Hone brings over 15 years of experience in finance, particularly in wellness, food & beverage, and financial services, and is expected to play a crucial role in propelling the company into its next growth phase.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group announced its 13th consecutive record quarter with increased net income from operations, highlighting its growth strategy and market positioning. The company achieved significant financial growth, including a 114% increase in system sales and a 155% rise in total revenues compared to the previous year, driven by new restaurant openings and strategic acquisitions. This performance underscores Happy Belly’s commitment to expanding its national presence and enhancing shareholder value.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group’s Heal Wellness has secured its first real-estate location for a new quick-service restaurant at University Heights Shopping Centre, near the University of Victoria, as part of a multi-unit franchise agreement for five stores on Vancouver Island. This strategic expansion highlights the company’s ability to secure prime real estate and aligns with Vancouver Island’s health-conscious demographics, aiming to establish Heal Wellness as a leading acai bowl and smoothie brand in Canada.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has completed the acquisition of 50% of SALUS Fresh Foods, a quick-service restaurant chain known for its fresh and healthy offerings. This acquisition is part of Happy Belly’s strategy to expand its portfolio of food brands, now totaling 73 restaurants, and to enhance its market position as a leading consolidator of emerging food brands in Canada. The acquisition is expected to bring operational synergies and efficiencies, optimizing costs and supporting the growth of both brands.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has announced the signing of its second franchise agreement for Heal Wellness in Quebec, marking a significant step in the brand’s national expansion. This development highlights the company’s strategic growth in the province, reinforcing its ability to scale emerging food concepts and enhancing its market positioning in the quick-service restaurant industry.
The most recent analyst rating on (TSE:HBFG) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Happy Belly Food Group stock, see the TSE:HBFG Stock Forecast page.
Happy Belly Food Group has signed its first franchise agreement for Heal Wellness in Quebec, marking a significant step in its national expansion strategy. This move highlights the company’s ability to scale brands across Canada and capitalize on the growing demand for healthy quick-service options, further strengthening its presence in the province with the help of experienced local partners.
Happy Belly Food Group’s Heal Wellness has secured a new real estate location in downtown Oakville, Ontario, marking the opening of its eighth corporate store. This move is part of Happy Belly’s disciplined growth strategy, aimed at expanding its national footprint and establishing Heal Wellness as Canada’s leading smoothie bowl brand. The Oakville location is strategically chosen for its vibrant, health-conscious community, aligning with Heal’s focus on wellness and nutritious lifestyle choices. With 195 units secured through national development agreements, Heal Wellness is rapidly gaining national recognition, reinforcing Happy Belly’s long-term vision and franchise model. The broader Happy Belly portfolio now includes 616 committed retail locations, highlighting the company’s scalable, asset-light expansion strategy and its commitment to generating shareholder value.
Happy Belly Food Group’s Heal Wellness has signed a franchise agreement for a new location in Calgary’s Britannia neighborhood, marking its 7th location in Calgary and 10th in Alberta. This expansion is part of a broader 15-unit growth plan across the province. The new location is strategically positioned to attract a health-conscious demographic, aligning with Heal Wellness’s focus on fresh, convenient, and healthy dining options. The expansion reflects growing brand awareness and loyalty, with franchisees showing strong confidence in the brand by expanding their portfolios. This development is part of Happy Belly’s strategy to reinforce its scalability and establish a leading presence in the Canadian QSR landscape.
Happy Belly Food Group Inc. announced the release date for its second quarter results, which will be available on August 25, 2025, after market close. The company also revealed that it is finalizing the acquisition of 50% of Salus Fresh Foods Restaurant Chain, a move that is expected to enhance its market presence and operational capabilities.
Happy Belly Food Group’s Heal Wellness brand has signed a multi-unit agreement for three locations in central Alberta and secured its first real estate location in Red Deer. This expansion reflects the brand’s growing footprint in Western Canada and demonstrates confidence in its scalable business model. With 195 units secured through national development agreements, Heal Wellness is rapidly gaining national brand recognition and establishing itself as Canada’s first coast-to-coast smoothie bowl brand. The broader Happy Belly portfolio now includes 616 contractually committed retail locations, indicating significant momentum and long-term value creation for shareholders.
Happy Belly Food Group has entered into a three-year exclusive supply agreement with Coca-Cola Canada Bottling Limited, designating Coca-Cola as their preferred beverage partner. This partnership is expected to enhance Happy Belly’s operational efficiency by leveraging Coca-Cola’s buying power, reducing food costs, and streamlining inventory management, thereby strengthening Happy Belly’s position as a prominent restaurant consolidator in Canada.
Happy Belly Food Group has announced a new franchise agreement and real estate location for Rosie’s Burgers in Waterloo, Ontario. This marks the eighth location in Ontario as part of a 30-unit development plan. The strategic location in Waterloo, with its strong demographic mix and proximity to major universities, is expected to drive growth by attracting students, faculty, and tech professionals. The company’s asset-light franchising approach and strategic site selection are key to its expansion strategy, aiming to establish Rosie’s as Canada’s leading smash burger brand. With 115 locations secured across Canada, Happy Belly is poised for rapid growth, leveraging its proven franchise model and strong market positioning.
Happy Belly Food Group’s Rosie’s Burgers has signed a franchise agreement for a second location in Edmonton’s Brewery District, marking a significant step in its national rollout strategy. This expansion into a high-traffic area near McEwan University highlights the brand’s growing momentum in the QSR space, with 115 locations secured across Canada. The company’s dual expansion strategy and focus on operational discipline aim to establish Rosie’s as a leading smash burger brand in Canada, reinforcing Happy Belly’s position as a major restaurant consolidator.
Happy Belly Food Group announced that its existing multi-unit franchisee in Alberta has increased their commitment from 10 to 15 locations for Heal Wellness, a quick serve restaurant specializing in smoothie bowls and smoothies. This expansion reflects the growing brand awareness and customer loyalty of Heal Wellness, which is gaining recognition as Canada’s first national smoothie bowl brand. The company’s scalable, asset-light model supports its strategic growth, with 616 retail locations now contractually committed across various stages of development, construction, and operation. This disciplined execution is expected to translate into meaningful shareholder value and position Happy Belly for sustained growth through 2026 and beyond.
Happy Belly Food Group’s Rosie’s Burgers has signed a second franchise agreement in Halifax, Nova Scotia, as part of its strategic expansion across Atlantic Canada. The new location in downtown Halifax, known as Pizza Corner, is expected to benefit from the city’s strong demographics and vibrant culinary culture. This expansion underscores the brand’s rapid growth and the scalability of its franchise model, with 115 locations secured across Canada. The company’s dual expansion strategy, combining franchised growth with corporate store openings, aims to position Rosie’s as Canada’s leading smash burger brand, while also enhancing shareholder value.
Happy Belly Food Group’s Heal Wellness brand has secured a real estate location for its franchisee in Grand Prairie, Alberta, marking a significant step in its national expansion strategy. This move aligns with Happy Belly’s vision to establish Heal Wellness as Canada’s leading acai bowl and smoothie brand, capitalizing on the city’s youthful, health-conscious population and limited competition in the health-focused fast-casual space. With 195 units secured through national development agreements, Heal Wellness is rapidly gaining national recognition, contributing to Happy Belly’s broader portfolio of 616 retail locations. This expansion is expected to generate long-term value for shareholders and solidify the company’s position in the Canadian QSR sector.
Happy Belly Food Group’s Rosie’s Burgers has signed a franchise agreement and secured a real estate location in Calgary’s Marda Loop District, marking a significant step in its 20-unit development plan for Alberta. This expansion is part of a broader strategy to grow Rosie’s Burgers into a leading national smash burger brand, with 115 locations secured across Canada. The company is leveraging its asset-light franchise model and strategic site selection to drive growth and create long-term shareholder value.
Happy Belly Food Group’s Yolks Breakfast has signed a franchise agreement for a new location in Chilliwack, British Columbia, marking its continued expansion in the breakfast restaurant sector. This move underscores Happy Belly’s strategy of securing prime real estate and leveraging its franchising expertise to drive growth, with the goal of establishing Yolks as a recognized national brand across Canada.
Rosie’s Burgers, a brand under Happy Belly Food Group, has announced the signing of a new franchise agreement and secured a location in Abbotsford, British Columbia. This expansion reflects the brand’s momentum in the quick-service restaurant sector, driven by its unique offerings and strong franchise system. With 115 locations secured across Canada, Rosie’s is poised for rapid growth, aiming to become the leading smash burger brand in the country. The company’s strategic expansion through franchising and corporate store openings aligns with its goal of becoming Canada’s leading restaurant consolidator, enhancing shareholder value and brand scalability.