BT Brands, Inc. (BTBD) 10-Year Financial Performance & Capital Metrics

BTBD • • Industrial / General

Consumer CyclicalRestaurantsQuick Service Restaurants (QSR)Burger & Sandwich QSR

AboutBT 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.Show more

Revenue $15M +5.3%
EBITDA -$1M -129.8%
Net Income -$2M -160.5%
EPS (Diluted) -0.37 -164.3%
Gross Margin 20.84% +71.7%
EBITDA Margin -7.35% -118.2%
Operating Margin -12.36% -62.2%
Net Margin -15.59% -147.3%
ROE -28.61% -211.8%
ROIC -15.85% -115.9%
Debt/Equity 0.58 +21.8%
Interest Coverage -18.34 -66.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 18.0%
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y18%

3Y20.6%

TTM-4.16%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM30.54%

EPS CAGR

10Y-

5Y-

3Y-

TTM32.98%

ROCE

10Y Avg11.59%

5Y Avg9.61%

3Y Avg-8.68%

Latest-15.52%

Peer Comparison

Burger & Sandwich QSR

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SHAKShake Shack Inc.	4.06B	100.77	419.88	15.18%	3.1%	7.96%	0.88%	1.75
NATHNathan's Famous, Inc.	386.13M	94.42	16.09	6.91%	15.74%		6.48%
PTLOPortillo's Inc.	396.35M	5.51	11.98	4.51%	3.35%	5.02%	2.48%	1.22
WENThe Wendy's Company	1.63B	8.54	8.99	2.98%	8.43%	170.42%	16.05%	15.78
GTIMGood Times Restaurants Inc.	12.35M	1.17	8.36	3.01%	0.88%	3.72%	16.09%	1.34
RRGBRed Robin Gourmet Burgers, Inc.	75.99M	4.23	-0.86	-4.18%	-4.32%
BTBDBT Brands, Inc.	9.29M	1.51	-4.08	5.31%	-6.67%	-12.12%		0.58
JACKJack in the Box Inc.	444.45M	23.52	-5.59	-6.75%	-4.34%		16.68%

Profit & Loss

	Dec 2013	Dec 2014	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.9M	5.31M	7.11M	7.05M	6.48M	8.16M	8.45M	12.6M	14.08M	14.82M
Revenue Growth %	-	0.08%	0.34%	-0.01%	-0.08%	0.26%	0.04%	0.49%	0.12%	0.05%
Cost of Goods Sold+	3.63M	4.1M	6.51M	5.07M	4.71M	5.43M	5.67M	8.98M	12.37M	11.73M
COGS % of Revenue	0.74%	0.77%	0.92%	0.72%	0.73%	0.67%	0.67%	0.71%	0.88%	0.79%
Gross Profit+	1.27M	1.21M	599.57K	1.98M	1.77M	2.73M	2.78M	3.62M	1.71M	3.09M
Gross Margin %	0.26%	0.23%	0.08%	0.28%	0.27%	0.33%	0.33%	0.29%	0.12%	0.21%
Gross Profit Growth %	-	-0.05%	-0.5%	2.3%	-0.11%	0.55%	0.02%	0.3%	-0.53%	0.81%
Operating Expenses+	949.52K	890.54K	621.65K	1.9M	1.89M	2.01M	1.8M	4.01M	2.78M	4.92M
OpEx % of Revenue	0.19%	0.17%	0.09%	0.27%	0.29%	0.25%	0.21%	0.32%	0.2%	0.33%
Selling, General & Admin	456.41K	447.81K	621.65K	1.34M	1.33M	1.4M	1.1M	2.78M	1.65M	3.09M
SG&A % of Revenue	0.09%	0.08%	0.09%	0.19%	0.2%	0.17%	0.13%	0.22%	0.12%	0.21%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	-29.42K	566.29K	615.94K	703.85K	1.23M	1.13M	1.83M
Operating Income+	215.56K	279.92K	-22.08K	240.81K	-112.25K	1.29M	980.71K	-391.16K	-1.07M	-1.83M
Operating Margin %	0.04%	0.05%	-0%	0.03%	-0.02%	0.16%	0.12%	-0.03%	-0.08%	-0.12%
Operating Income Growth %	-	0.3%	-1.08%	11.91%	-1.47%	12.51%	-0.24%	-1.4%	-1.74%	-0.71%
EBITDA+	429.59K	380.36K	187.07K	468.33K	100.54K	1.48M	1.21M	57.87K	-474.05K	-1.09M
EBITDA Margin %	0.09%	0.07%	0.03%	0.07%	0.02%	0.18%	0.14%	0%	-0.03%	-0.07%
EBITDA Growth %	-	-0.11%	-0.51%	1.5%	-0.79%	13.73%	-0.18%	-0.95%	-9.19%	-1.3%
D&A (Non-Cash Add-back)	214.03K	100.44K	209.15K	227.51K	212.79K	189.39K	234.03K	449.04K	598.54K	742.86K
EBIT	215.56K	279.92K	-22.09K	211.48K	-360.74K	1.1M	980.71K	-627.52K	-934.76K	-2.01M
Net Interest Income+	0	0	0	-176.87K	-203.44K	-74.13K	-172.86K	10.76K	203.31K	78.37K
Interest Income	63.07K	55.66K	190.78K	89	4.4K	103.62K	0	125.53K	300.92K	178.28K
Interest Expense	0	0	0	176.96K	207.84K	177.76K	172.86K	114.77K	97.61K	99.91K
Other Income/Expense	-63.07K	-55.66K	-232.77K	-206.29K	-195.03K	-369.95K	-172.86K	-351.12K	40.22K	-684.9K
Pretax Income+	255.05K	259.54K	-254.85K	34.53K	-417.08K	921.99K	807.85K	-742.28K	-1.03M	-2.52M
Pretax Margin %	0.05%	0.05%	-0.04%	0%	-0.06%	0.11%	0.1%	-0.06%	-0.07%	-0.17%
Income Tax+	0	0	-4	13.72K	48.5K	130K	200K	-180K	-145K	-206K
Effective Tax Rate %	1%	1%	1%	0.6%	0.88%	0.86%	0.75%	0.76%	0.86%	0.92%
Net Income+	255.05K	259.54K	-254.85K	20.8K	-368.58K	791.99K	607.85K	-562.28K	-887.37K	-2.31M
Net Margin %	0.05%	0.05%	-0.04%	0%	-0.06%	0.1%	0.07%	-0.04%	-0.06%	-0.16%
Net Income Growth %	-	0.02%	-1.98%	1.08%	-18.72%	3.15%	-0.23%	-1.93%	-0.58%	-1.6%
Net Income (Continuing)	255.05K	259.54K	-254.85K	20.8K	-466.58K	791.99K	607.85K	-562.28K	-887.37K	-2.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.05	0.05	-0.06	0.01	-0.09	0.20	0.14	-0.09	-0.14	-0.37
EPS Growth %	-	0.02%	-2.33%	1.08%	-	3.2%	-0.3%	-1.62%	-0.61%	-1.64%
EPS (Basic)	0.05	0.05	-0.06	0.01	-0.09	0.20	0.14	-0.09	-0.14	-0.37
Diluted Shares Outstanding	5.5M	5.5M	4.05M	4.05M	4.04M	4.05M	4.38M	6.46M	6.26M	6.19M
Basic Shares Outstanding	5.5M	5.5M	4.05M	4.05M	4.04M	4.05M	4.38M	6.46M	6.26M	6.19M
Dividend Payout Ratio	0.79%	0.64%	-	1.42%	-	-	-	-	-	-

Balance Sheet

	Dec 2013	Dec 2014	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	228.9K	336.75K	335.72K	790.55K	336.82K	1.41M	12.56M	8.86M	7.23M	5M
Cash & Short-Term Investments	186.97K	259.99K	241.05K	663.51K	258.1K	1.32M	12.39M	8.14M	6.69M	4.27M
Cash Only	186.97K	259.99K	241.05K	663.51K	258.1K	1.32M	12.39M	2.15M	5.3M	1.95M
Short-Term Investments	0	0	0	0	0	0	0	5.99M	1.39M	2.32M
Accounts Receivable	1.31K	21.46K	19.1K	20.24K	15.36K	19.03K	72.25K	76.95K	28.74K	69.46K
Days Sales Outstanding	0.1	1.47	0.98	1.05	0.87	0.85	3.12	2.23	0.75	1.71
Inventory	38.16K	49.41K	70.69K	58.58K	56.43K	60.58K	79.51K	158.35K	201.33K	272.6K
Days Inventory Outstanding	3.84	4.39	3.96	4.21	4.37	4.07	5.12	6.44	5.94	8.48
Other Current Assets	200	4.1K	0	40K	0	0	27.19K	446.52K	306K	386.37K
Total Non-Current Assets+	1.06M	882.7K	2.53M	2.47M	2.3M	1.98M	1.94M	7.91M	7.38M	7M
Property, Plant & Equipment	1.06M	882.7K	2M	2.05M	2.1M	1.63M	1.59M	5.75M	5.04M	5.07M
Fixed Asset Turnover	4.61x	6.02x	3.56x	3.44x	3.09x	5.00x	5.31x	2.19x	2.80x	2.93x
Goodwill	0	0	0	0	0	0	0	671.22K	671.22K	796.22K
Intangible Assets	0	0	0	0	0	0	0	453.98K	395.11K	367.8K
Long-Term Investments	0	0	0	0	179K	75K	75K	1.37M	1.02M	304.44K
Other Non-Current Assets	0	0	532.32K	421.75K	18.46K	232.51K	273.81K	-395.62K	49.2K	461.54K
Total Assets+	1.29M	1.22M	2.86M	3.26M	2.63M	3.39M	14.51M	16.77M	14.61M	12M
Asset Turnover	3.79x	4.35x	2.48x	2.16x	2.46x	2.41x	0.58x	0.75x	0.96x	1.24x
Asset Growth %	-	-0.06%	1.35%	0.14%	-0.19%	0.29%	3.28%	0.16%	-0.13%	-0.18%
Total Current Liabilities+	487.38K	524.28K	805.28K	731.77K	805.15K	1.03M	925.31K	2.13M	1.55M	1.44M
Accounts Payable	180.17K	133.77K	351.82K	288.66K	321.86K	270.49K	291.97K	448.61K	555.25K	612.06K
Days Payables Outstanding	18.12	11.9	19.72	20.77	24.92	18.19	18.8	18.23	16.39	19.04
Short-Term Debt	152.94K	161.31K	261.57K	254.4K	277.67K	245.31K	169.91K	958.99K	299.23K	185.01K
Deferred Revenue (Current)	0	0	0	93.17K	0	0	10.04K	0	26.84K	0
Other Current Liabilities	0	40K	16.77K	13.73K	136.83K	202.59K	202.64K	0	136.8K	0
Current Ratio	0.47x	0.64x	0.42x	1.08x	0.42x	1.36x	13.58x	4.15x	4.66x	3.46x
Quick Ratio	0.39x	0.55x	0.33x	1.00x	0.35x	1.30x	13.49x	4.08x	4.53x	3.28x
Cash Conversion Cycle	-14.18	-6.03	-14.78	-15.51	-19.68	-13.27	-10.56	-9.57	-9.7	-8.85
Total Non-Current Liabilities+	853.35K	692.03K	3.58M	3.57M	3.22M	3.06M	2.95M	4.48M	3.87M	3.59M
Long-Term Debt	853.35K	692.03K	3.57M	3.52M	3.22M	2.94M	2.83M	2.66M	2.27M	2.09M
Capital Lease Obligations	0	0	0	0	0	0	0	1.83M	1.6M	1.5M
Deferred Tax Liabilities	0	0	0	48.5K	-3.67K	118K	119K	0	0	0
Other Non-Current Liabilities	0	0	14.67K	0	0	0	0	0	0	0
Total Liabilities	1.34M	1.22M	4.39M	4.31M	4.03M	4.09M	3.88M	6.62M	5.42M	5.03M
Total Debt+	1.01M	853.35K	3.83M	3.77M	3.5M	3.18M	3M	5.64M	4.38M	4.05M
Net Debt	819.32K	593.36K	3.59M	3.11M	3.24M	1.86M	-9.38M	3.49M	-915.5K	2.1M
Debt / Equity	-	271.94x	-	-	-	-	0.28x	0.56x	0.48x	0.58x
Debt / EBITDA	2.34x	2.24x	20.48x	8.05x	34.80x	2.15x	2.47x	97.38x	-	-
Net Debt / EBITDA	1.91x	1.56x	19.19x	6.63x	32.23x	1.26x	-7.72x	60.22x	-	-
Interest Coverage	-	-	-	1.36x	-0.54x	7.27x	5.67x	-3.41x	-10.99x	-18.34x
Total Equity+	-49.42K	3.14K	-1.52M	-1.04M	-1.4M	-702.32K	10.63M	10.15M	9.19M	6.97M
Equity Growth %	-	1.06%	-486.89%	0.32%	-0.34%	0.5%	16.13%	-0.04%	-0.09%	-0.24%
Book Value per Share	-0.01	0.00	-0.38	-0.26	-0.35	-0.17	2.43	1.57	1.47	1.12
Total Shareholders' Equity	-49.42K	3.14K	-1.52M	-1.04M	-1.4M	-702.32K	10.63M	10.15M	9.19M	6.97M
Common Stock	0	3.14K	6.6K	8.09K	8.1K	8.1K	12.89K	12.79K	12.49K	12.31K
Retained Earnings	0	0	-1.52M	-1.53M	-1.9M	-1.21M	-600.24K	-1.16M	-2.05M	-4.36M
Treasury Stock	0	0	0	0	0	0	0	-106.88K	-357.11K	-499.72K
Accumulated OCI	0	0	-6.6K	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2013	Dec 2014	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	470.71K	278.39K	293.36K	49.12K	50.49K	1.4M	813.96K	211.8K	-258.79K	-723.5K
Operating CF Margin %	0.1%	0.05%	0.04%	0.01%	0.01%	0.17%	0.1%	0.02%	-0.02%	-0.05%
Operating CF Growth %	-	-0.41%	0.05%	-0.83%	0.03%	26.68%	-0.42%	-0.74%	-2.22%	-1.8%
Net Income	255.05K	259.54K	-254.85K	20.8K	-466.58K	791.99K	607.85K	-562.28K	-887.37K	-2.31M
Depreciation & Amortization	214.03K	100.44K	209.15K	225.81K	211.09K	189.39K	234.03K	449.04K	598.54K	742.86K
Stock-Based Compensation	0	0	0	0	13.5K	0	26.25K	118.7K	174K	230.5K
Deferred Taxes	0	0	0	0	-102K	20K	1K	-180K	-145K	206K
Other Non-Cash Items	4.17K	-81.69K	194.79K	-150.68K	342.16K	160.04K	56.91K	238.99K	-230.09K	603.66K
Working Capital Changes	-2.54K	94	291.29K	-46.82K	52.31K	236.1K	-112.08K	147.35K	231.13K	-195.31K
Change in Receivables	12	-20.14K	-944	-1.14K	4.88K	-3.67K	-53.22K	-4.7K	48.21K	-40.72K
Change in Inventory	9.21K	-11.25K	-17.14K	12.11K	2.15K	-4.14K	-18.93K	-22.85K	-42.98K	-6.27K
Change in Payables	0	0	289.37K	-63.16K	33.2K	-67.08K	37.2K	156.63K	106.64K	40.98K
Cash from Investing+	42.11K	114.55K	-155.77K	216.58K	-179K	24.58K	-207.92K	-11.04M	4.71M	-2.18M
Capital Expenditures	-229.89K	-75.45K	-462.19K	-66.65K	0	-154.42K	-207.92K	-478.4K	-488.39K	-494.06K
CapEx % of Revenue	0.05%	0.01%	0.07%	0.01%	-	0.02%	0.02%	0.04%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	272K	190K	302.31K	300K	0	179K	0	-37.54K	496K	130K
Cash from Financing+	-351.93K	-319.93K	-91.89K	156.77K	-276.9K	-358.96K	10.46M	590.7K	-1.3M	-440.85K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-200.54K	-166.98K	-44.15K	-29.57K	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-41K	0	0	-49.7K	74.87K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	240.83K	202.94K	-168.83K	-17.54K	50.49K	1.24M	606.03K	-266.6K	-747.17K	-1.22M
FCF Margin %	0.05%	0.04%	-0.02%	-0%	0.01%	0.15%	0.07%	-0.02%	-0.05%	-0.08%
FCF Growth %	-	-0.16%	-1.83%	0.9%	3.88%	23.62%	-0.51%	-1.44%	-1.8%	-0.63%
FCF per Share	0.04	0.04	-0.04	-0.00	0.01	0.31	0.14	-0.04	-0.12	-0.20
FCF Conversion (FCF/Net Income)	1.85x	1.07x	-1.15x	2.36x	-0.14x	1.76x	1.34x	-0.38x	0.29x	0.31x
Interest Paid	0	0	0	170.97K	202.1K	133.21K	119.3K	109.37K	85.92K	93.7K
Taxes Paid	0	0	0	0	0	0	114.18K	209.09K	0	0

Key Ratios

Metric	2013	2014	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	8270.87%	-	-	-	-	12.25%	-5.41%	-9.18%	-28.61%
Return on Invested Capital (ROIC)	-	30.73%	-1.24%	8.75%	-4.31%	64.49%	61.12%	-3.94%	-7.34%	-15.85%
Gross Margin	25.88%	22.71%	8.43%	28.06%	27.25%	33.49%	32.93%	28.73%	12.14%	20.84%
Net Margin	5.21%	4.89%	-3.58%	0.29%	-5.69%	9.71%	7.19%	-4.46%	-6.3%	-15.59%
Debt / Equity	-	271.94x	-	-	-	-	0.28x	0.56x	0.48x	0.58x
Interest Coverage	-	-	-	1.36x	-0.54x	7.27x	5.67x	-3.41x	-10.99x	-18.34x
FCF Conversion	1.85x	1.07x	-1.15x	2.36x	-0.14x	1.76x	1.34x	-0.38x	0.29x	0.31x
Revenue Growth	-	8.42%	33.9%	-0.83%	-8.1%	25.91%	3.58%	49.09%	11.71%	5.31%

Frequently Asked Questions

Growth & Financials

BT Brands, Inc. (BTBD) reported $14.0M in revenue for fiscal year 2024. This represents a 187% increase from $4.9M in 2013.

BT Brands, Inc. (BTBD) grew revenue by 5.3% over the past year. This is steady growth.

BT Brands, Inc. (BTBD) reported a net loss of $0.9M for fiscal year 2024.

Dividend & Returns

BT Brands, Inc. (BTBD) has a return on equity (ROE) of -28.6%. Negative ROE indicates the company is unprofitable.

BT Brands, Inc. (BTBD) had negative free cash flow of $0.6M in fiscal year 2024, likely due to heavy capital investments.

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BT Brands, Inc. (BTBD) 10-Year Financial Performance & Capital Metrics

BTBD • • Industrial / General

Consumer CyclicalRestaurantsQuick Service Restaurants (QSR)Burger & Sandwich QSR

Revenue $15M +5.3%
EBITDA -$1M -129.8%
Net Income -$2M -160.5%
EPS (Diluted) -0.37 -164.3%
Gross Margin 20.84% +71.7%
EBITDA Margin -7.35% -118.2%
Operating Margin -12.36% -62.2%
Net Margin -15.59% -147.3%
ROE -28.61% -211.8%
ROIC -15.85% -115.9%
Debt/Equity 0.58 +21.8%
Interest Coverage -18.34 -66.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 18.0%
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y18%

3Y20.6%

TTM-4.16%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM30.54%

EPS CAGR

10Y-

5Y-

3Y-

TTM32.98%

ROCE

10Y Avg11.59%

5Y Avg9.61%

3Y Avg-8.68%

Latest-15.52%

Peer Comparison

Burger & Sandwich QSR

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SHAKShake Shack Inc.	4.06B	100.77	419.88	15.18%	3.1%	7.96%	0.88%	1.75
NATHNathan's Famous, Inc.	386.13M	94.42	16.09	6.91%	15.74%		6.48%
PTLOPortillo's Inc.	396.35M	5.51	11.98	4.51%	3.35%	5.02%	2.48%	1.22
WENThe Wendy's Company	1.63B	8.54	8.99	2.98%	8.43%	170.42%	16.05%	15.78
GTIMGood Times Restaurants Inc.	12.35M	1.17	8.36	3.01%	0.88%	3.72%	16.09%	1.34
RRGBRed Robin Gourmet Burgers, Inc.	75.99M	4.23	-0.86	-4.18%	-4.32%
BTBDBT Brands, Inc.	9.29M	1.51	-4.08	5.31%	-6.67%	-12.12%		0.58
JACKJack in the Box Inc.	444.45M	23.52	-5.59	-6.75%	-4.34%		16.68%

Profit & Loss

	Dec 2013	Dec 2014	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.9M	5.31M	7.11M	7.05M	6.48M	8.16M	8.45M	12.6M	14.08M	14.82M
Revenue Growth %	-	0.08%	0.34%	-0.01%	-0.08%	0.26%	0.04%	0.49%	0.12%	0.05%
Cost of Goods Sold+	3.63M	4.1M	6.51M	5.07M	4.71M	5.43M	5.67M	8.98M	12.37M	11.73M
COGS % of Revenue	0.74%	0.77%	0.92%	0.72%	0.73%	0.67%	0.67%	0.71%	0.88%	0.79%
Gross Profit+	1.27M	1.21M	599.57K	1.98M	1.77M	2.73M	2.78M	3.62M	1.71M	3.09M
Gross Margin %	0.26%	0.23%	0.08%	0.28%	0.27%	0.33%	0.33%	0.29%	0.12%	0.21%
Gross Profit Growth %	-	-0.05%	-0.5%	2.3%	-0.11%	0.55%	0.02%	0.3%	-0.53%	0.81%
Operating Expenses+	949.52K	890.54K	621.65K	1.9M	1.89M	2.01M	1.8M	4.01M	2.78M	4.92M
OpEx % of Revenue	0.19%	0.17%	0.09%	0.27%	0.29%	0.25%	0.21%	0.32%	0.2%	0.33%
Selling, General & Admin	456.41K	447.81K	621.65K	1.34M	1.33M	1.4M	1.1M	2.78M	1.65M	3.09M
SG&A % of Revenue	0.09%	0.08%	0.09%	0.19%	0.2%	0.17%	0.13%	0.22%	0.12%	0.21%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	-29.42K	566.29K	615.94K	703.85K	1.23M	1.13M	1.83M
Operating Income+	215.56K	279.92K	-22.08K	240.81K	-112.25K	1.29M	980.71K	-391.16K	-1.07M	-1.83M
Operating Margin %	0.04%	0.05%	-0%	0.03%	-0.02%	0.16%	0.12%	-0.03%	-0.08%	-0.12%
Operating Income Growth %	-	0.3%	-1.08%	11.91%	-1.47%	12.51%	-0.24%	-1.4%	-1.74%	-0.71%
EBITDA+	429.59K	380.36K	187.07K	468.33K	100.54K	1.48M	1.21M	57.87K	-474.05K	-1.09M
EBITDA Margin %	0.09%	0.07%	0.03%	0.07%	0.02%	0.18%	0.14%	0%	-0.03%	-0.07%
EBITDA Growth %	-	-0.11%	-0.51%	1.5%	-0.79%	13.73%	-0.18%	-0.95%	-9.19%	-1.3%
D&A (Non-Cash Add-back)	214.03K	100.44K	209.15K	227.51K	212.79K	189.39K	234.03K	449.04K	598.54K	742.86K
EBIT	215.56K	279.92K	-22.09K	211.48K	-360.74K	1.1M	980.71K	-627.52K	-934.76K	-2.01M
Net Interest Income+	0	0	0	-176.87K	-203.44K	-74.13K	-172.86K	10.76K	203.31K	78.37K
Interest Income	63.07K	55.66K	190.78K	89	4.4K	103.62K	0	125.53K	300.92K	178.28K
Interest Expense	0	0	0	176.96K	207.84K	177.76K	172.86K	114.77K	97.61K	99.91K
Other Income/Expense	-63.07K	-55.66K	-232.77K	-206.29K	-195.03K	-369.95K	-172.86K	-351.12K	40.22K	-684.9K
Pretax Income+	255.05K	259.54K	-254.85K	34.53K	-417.08K	921.99K	807.85K	-742.28K	-1.03M	-2.52M
Pretax Margin %	0.05%	0.05%	-0.04%	0%	-0.06%	0.11%	0.1%	-0.06%	-0.07%	-0.17%
Income Tax+	0	0	-4	13.72K	48.5K	130K	200K	-180K	-145K	-206K
Effective Tax Rate %	1%	1%	1%	0.6%	0.88%	0.86%	0.75%	0.76%	0.86%	0.92%
Net Income+	255.05K	259.54K	-254.85K	20.8K	-368.58K	791.99K	607.85K	-562.28K	-887.37K	-2.31M
Net Margin %	0.05%	0.05%	-0.04%	0%	-0.06%	0.1%	0.07%	-0.04%	-0.06%	-0.16%
Net Income Growth %	-	0.02%	-1.98%	1.08%	-18.72%	3.15%	-0.23%	-1.93%	-0.58%	-1.6%
Net Income (Continuing)	255.05K	259.54K	-254.85K	20.8K	-466.58K	791.99K	607.85K	-562.28K	-887.37K	-2.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.05	0.05	-0.06	0.01	-0.09	0.20	0.14	-0.09	-0.14	-0.37
EPS Growth %	-	0.02%	-2.33%	1.08%	-	3.2%	-0.3%	-1.62%	-0.61%	-1.64%
EPS (Basic)	0.05	0.05	-0.06	0.01	-0.09	0.20	0.14	-0.09	-0.14	-0.37
Diluted Shares Outstanding	5.5M	5.5M	4.05M	4.05M	4.04M	4.05M	4.38M	6.46M	6.26M	6.19M
Basic Shares Outstanding	5.5M	5.5M	4.05M	4.05M	4.04M	4.05M	4.38M	6.46M	6.26M	6.19M
Dividend Payout Ratio	0.79%	0.64%	-	1.42%	-	-	-	-	-	-

Balance Sheet

	Dec 2013	Dec 2014	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	228.9K	336.75K	335.72K	790.55K	336.82K	1.41M	12.56M	8.86M	7.23M	5M
Cash & Short-Term Investments	186.97K	259.99K	241.05K	663.51K	258.1K	1.32M	12.39M	8.14M	6.69M	4.27M
Cash Only	186.97K	259.99K	241.05K	663.51K	258.1K	1.32M	12.39M	2.15M	5.3M	1.95M
Short-Term Investments	0	0	0	0	0	0	0	5.99M	1.39M	2.32M
Accounts Receivable	1.31K	21.46K	19.1K	20.24K	15.36K	19.03K	72.25K	76.95K	28.74K	69.46K
Days Sales Outstanding	0.1	1.47	0.98	1.05	0.87	0.85	3.12	2.23	0.75	1.71
Inventory	38.16K	49.41K	70.69K	58.58K	56.43K	60.58K	79.51K	158.35K	201.33K	272.6K
Days Inventory Outstanding	3.84	4.39	3.96	4.21	4.37	4.07	5.12	6.44	5.94	8.48
Other Current Assets	200	4.1K	0	40K	0	0	27.19K	446.52K	306K	386.37K
Total Non-Current Assets+	1.06M	882.7K	2.53M	2.47M	2.3M	1.98M	1.94M	7.91M	7.38M	7M
Property, Plant & Equipment	1.06M	882.7K	2M	2.05M	2.1M	1.63M	1.59M	5.75M	5.04M	5.07M
Fixed Asset Turnover	4.61x	6.02x	3.56x	3.44x	3.09x	5.00x	5.31x	2.19x	2.80x	2.93x
Goodwill	0	0	0	0	0	0	0	671.22K	671.22K	796.22K
Intangible Assets	0	0	0	0	0	0	0	453.98K	395.11K	367.8K
Long-Term Investments	0	0	0	0	179K	75K	75K	1.37M	1.02M	304.44K
Other Non-Current Assets	0	0	532.32K	421.75K	18.46K	232.51K	273.81K	-395.62K	49.2K	461.54K
Total Assets+	1.29M	1.22M	2.86M	3.26M	2.63M	3.39M	14.51M	16.77M	14.61M	12M
Asset Turnover	3.79x	4.35x	2.48x	2.16x	2.46x	2.41x	0.58x	0.75x	0.96x	1.24x
Asset Growth %	-	-0.06%	1.35%	0.14%	-0.19%	0.29%	3.28%	0.16%	-0.13%	-0.18%
Total Current Liabilities+	487.38K	524.28K	805.28K	731.77K	805.15K	1.03M	925.31K	2.13M	1.55M	1.44M
Accounts Payable	180.17K	133.77K	351.82K	288.66K	321.86K	270.49K	291.97K	448.61K	555.25K	612.06K
Days Payables Outstanding	18.12	11.9	19.72	20.77	24.92	18.19	18.8	18.23	16.39	19.04
Short-Term Debt	152.94K	161.31K	261.57K	254.4K	277.67K	245.31K	169.91K	958.99K	299.23K	185.01K
Deferred Revenue (Current)	0	0	0	93.17K	0	0	10.04K	0	26.84K	0
Other Current Liabilities	0	40K	16.77K	13.73K	136.83K	202.59K	202.64K	0	136.8K	0
Current Ratio	0.47x	0.64x	0.42x	1.08x	0.42x	1.36x	13.58x	4.15x	4.66x	3.46x
Quick Ratio	0.39x	0.55x	0.33x	1.00x	0.35x	1.30x	13.49x	4.08x	4.53x	3.28x
Cash Conversion Cycle	-14.18	-6.03	-14.78	-15.51	-19.68	-13.27	-10.56	-9.57	-9.7	-8.85
Total Non-Current Liabilities+	853.35K	692.03K	3.58M	3.57M	3.22M	3.06M	2.95M	4.48M	3.87M	3.59M
Long-Term Debt	853.35K	692.03K	3.57M	3.52M	3.22M	2.94M	2.83M	2.66M	2.27M	2.09M
Capital Lease Obligations	0	0	0	0	0	0	0	1.83M	1.6M	1.5M
Deferred Tax Liabilities	0	0	0	48.5K	-3.67K	118K	119K	0	0	0
Other Non-Current Liabilities	0	0	14.67K	0	0	0	0	0	0	0
Total Liabilities	1.34M	1.22M	4.39M	4.31M	4.03M	4.09M	3.88M	6.62M	5.42M	5.03M
Total Debt+	1.01M	853.35K	3.83M	3.77M	3.5M	3.18M	3M	5.64M	4.38M	4.05M
Net Debt	819.32K	593.36K	3.59M	3.11M	3.24M	1.86M	-9.38M	3.49M	-915.5K	2.1M
Debt / Equity	-	271.94x	-	-	-	-	0.28x	0.56x	0.48x	0.58x
Debt / EBITDA	2.34x	2.24x	20.48x	8.05x	34.80x	2.15x	2.47x	97.38x	-	-
Net Debt / EBITDA	1.91x	1.56x	19.19x	6.63x	32.23x	1.26x	-7.72x	60.22x	-	-
Interest Coverage	-	-	-	1.36x	-0.54x	7.27x	5.67x	-3.41x	-10.99x	-18.34x
Total Equity+	-49.42K	3.14K	-1.52M	-1.04M	-1.4M	-702.32K	10.63M	10.15M	9.19M	6.97M
Equity Growth %	-	1.06%	-486.89%	0.32%	-0.34%	0.5%	16.13%	-0.04%	-0.09%	-0.24%
Book Value per Share	-0.01	0.00	-0.38	-0.26	-0.35	-0.17	2.43	1.57	1.47	1.12
Total Shareholders' Equity	-49.42K	3.14K	-1.52M	-1.04M	-1.4M	-702.32K	10.63M	10.15M	9.19M	6.97M
Common Stock	0	3.14K	6.6K	8.09K	8.1K	8.1K	12.89K	12.79K	12.49K	12.31K
Retained Earnings	0	0	-1.52M	-1.53M	-1.9M	-1.21M	-600.24K	-1.16M	-2.05M	-4.36M
Treasury Stock	0	0	0	0	0	0	0	-106.88K	-357.11K	-499.72K
Accumulated OCI	0	0	-6.6K	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2013	Dec 2014	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	470.71K	278.39K	293.36K	49.12K	50.49K	1.4M	813.96K	211.8K	-258.79K	-723.5K
Operating CF Margin %	0.1%	0.05%	0.04%	0.01%	0.01%	0.17%	0.1%	0.02%	-0.02%	-0.05%
Operating CF Growth %	-	-0.41%	0.05%	-0.83%	0.03%	26.68%	-0.42%	-0.74%	-2.22%	-1.8%
Net Income	255.05K	259.54K	-254.85K	20.8K	-466.58K	791.99K	607.85K	-562.28K	-887.37K	-2.31M
Depreciation & Amortization	214.03K	100.44K	209.15K	225.81K	211.09K	189.39K	234.03K	449.04K	598.54K	742.86K
Stock-Based Compensation	0	0	0	0	13.5K	0	26.25K	118.7K	174K	230.5K
Deferred Taxes	0	0	0	0	-102K	20K	1K	-180K	-145K	206K
Other Non-Cash Items	4.17K	-81.69K	194.79K	-150.68K	342.16K	160.04K	56.91K	238.99K	-230.09K	603.66K
Working Capital Changes	-2.54K	94	291.29K	-46.82K	52.31K	236.1K	-112.08K	147.35K	231.13K	-195.31K
Change in Receivables	12	-20.14K	-944	-1.14K	4.88K	-3.67K	-53.22K	-4.7K	48.21K	-40.72K
Change in Inventory	9.21K	-11.25K	-17.14K	12.11K	2.15K	-4.14K	-18.93K	-22.85K	-42.98K	-6.27K
Change in Payables	0	0	289.37K	-63.16K	33.2K	-67.08K	37.2K	156.63K	106.64K	40.98K
Cash from Investing+	42.11K	114.55K	-155.77K	216.58K	-179K	24.58K	-207.92K	-11.04M	4.71M	-2.18M
Capital Expenditures	-229.89K	-75.45K	-462.19K	-66.65K	0	-154.42K	-207.92K	-478.4K	-488.39K	-494.06K
CapEx % of Revenue	0.05%	0.01%	0.07%	0.01%	-	0.02%	0.02%	0.04%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	272K	190K	302.31K	300K	0	179K	0	-37.54K	496K	130K
Cash from Financing+	-351.93K	-319.93K	-91.89K	156.77K	-276.9K	-358.96K	10.46M	590.7K	-1.3M	-440.85K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-200.54K	-166.98K	-44.15K	-29.57K	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-41K	0	0	-49.7K	74.87K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	240.83K	202.94K	-168.83K	-17.54K	50.49K	1.24M	606.03K	-266.6K	-747.17K	-1.22M
FCF Margin %	0.05%	0.04%	-0.02%	-0%	0.01%	0.15%	0.07%	-0.02%	-0.05%	-0.08%
FCF Growth %	-	-0.16%	-1.83%	0.9%	3.88%	23.62%	-0.51%	-1.44%	-1.8%	-0.63%
FCF per Share	0.04	0.04	-0.04	-0.00	0.01	0.31	0.14	-0.04	-0.12	-0.20
FCF Conversion (FCF/Net Income)	1.85x	1.07x	-1.15x	2.36x	-0.14x	1.76x	1.34x	-0.38x	0.29x	0.31x
Interest Paid	0	0	0	170.97K	202.1K	133.21K	119.3K	109.37K	85.92K	93.7K
Taxes Paid	0	0	0	0	0	0	114.18K	209.09K	0	0

Key Ratios

Metric	2013	2014	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	8270.87%	-	-	-	-	12.25%	-5.41%	-9.18%	-28.61%
Return on Invested Capital (ROIC)	-	30.73%	-1.24%	8.75%	-4.31%	64.49%	61.12%	-3.94%	-7.34%	-15.85%
Gross Margin	25.88%	22.71%	8.43%	28.06%	27.25%	33.49%	32.93%	28.73%	12.14%	20.84%
Net Margin	5.21%	4.89%	-3.58%	0.29%	-5.69%	9.71%	7.19%	-4.46%	-6.3%	-15.59%
Debt / Equity	-	271.94x	-	-	-	-	0.28x	0.56x	0.48x	0.58x
Interest Coverage	-	-	-	1.36x	-0.54x	7.27x	5.67x	-3.41x	-10.99x	-18.34x
FCF Conversion	1.85x	1.07x	-1.15x	2.36x	-0.14x	1.76x	1.34x	-0.38x	0.29x	0.31x
Revenue Growth	-	8.42%	33.9%	-0.83%	-8.1%	25.91%	3.58%	49.09%	11.71%	5.31%

Frequently Asked Questions

Growth & Financials

BT Brands, Inc. (BTBD) reported $14.0M in revenue for fiscal year 2024. This represents a 187% increase from $4.9M in 2013.

BT Brands, Inc. (BTBD) grew revenue by 5.3% over the past year. This is steady growth.

BT Brands, Inc. (BTBD) reported a net loss of $0.9M for fiscal year 2024.

Dividend & Returns

BT Brands, Inc. (BTBD) has a return on equity (ROE) of -28.6%. Negative ROE indicates the company is unprofitable.

BT Brands, Inc. (BTBD) had negative free cash flow of $0.6M in fiscal year 2024, likely due to heavy capital investments.