BT Brands Inc. Common Stock (BTBD)

FairStock Score: 45/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am wary of tiny restaurant operators unless they have a durable edge and a fortress balance sheet. BT Brands owns a handful of concepts across the North Central U.S., and with only 28 employees it is a very small enterprise. In fiscal 2024, the year ended 2024-12-29, revenue was $14.8 million but net income was a loss of $2.3 million. Fiscal 2023 revenue was $14.1 million with a loss of $887,368, and fiscal 2022 revenue was $12.6 million with a loss of $562,285. So the company has been losing money annually despite modest sales. Recent quarters are mixed: in fiscal Q1 2026, the quarter ended 2026-03-29, revenue was $2.8 million and net loss was $751,011; in fiscal Q2 2026, the quarter ended 2026-06-28, revenue was $3.6 million and net income was $576,433, or diluted EPS $0.09. That is encouraging but not yet a proven turnaround. FairStock calculations at the 2026-10-13 close of $1.76 show a P/B of 1.71, negative P/E of -17.60, ROE of -8.95%, and ROCE of -0.99%; EV/EBITDA of 88.45 is nosebleed for a restaurant operator. A Piotroski F-Score of 7/9 and free cash flow of $183,208, a 1.7% yield, suggest some improvement, but an Altman Z-Score of 1.77 signals distress risk. The Lynch category is TURNAROUND — loss in the latest year after earlier profits. Restaurants rarely have wide moats, and this one competes with far larger chains. I see no clear margin of safety until profits persist and debt stays controlled.

In plain English: BT Brands runs a small group of restaurants in the North Central United States, including Burger Time and other casual and quick-service concepts. The business looks weak: recent full years lost money, and the latest reported quarter had lower sales than the same quarter a year earlier, though a few recent quarters did make money. At $1.76, the price looks expensive compared with the company's weak profits and small cash flow, so it is not an obvious bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-28) · fiscal Q1 2026 10-Q (period ended 2026-03-29) · fiscal Q3 2025 10-Q (period ended 2025-09-28) · fiscal Q2 2025 10-Q (period ended 2025-06-29) · FY2024 10-K (period ended 2024-12-29) · FY2023 10-K (period ended 2023-12-29) · FY2022 10-K (period ended 2023-01-01)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer