Flanigan's Enterprises, Inc. (BDL) 10-Year Financial Performance & Capital Metrics

BDL • • Industrial / General

Consumer CyclicalRestaurantsCasual DiningFamily & Diner Casual

AboutFlanigan's Enterprises, Inc., together with its subsidiaries, operates a chain of full-service restaurants and package liquor stores in South Florida. It operates in two segments, Package Stores and Restaurants. The company operates package liquor stores under the Big Daddy's Liquors name, which offer private label liquors, beer, and wines; and restaurants under the Flanigan's Seafood Bar and Grill service mark that provide alcoholic beverages and full food services. As of October 2, 2021, it operated 27 units consisting of restaurants, package liquor stores, and combination restaurants/package liquor stores; and franchised 5 units comprising 2 restaurants and 3 combination restaurants/package liquor stores. Flanigan's Enterprises, Inc. was incorporated in 1959 and is headquartered in Fort Lauderdale, Florida.Show more

Revenue $205M +9.0%
EBITDA $15M +16.9%
Net Income $5M +50.0%
EPS (Diluted) 2.71 +49.7%
Gross Margin 19% -12.5%
EBITDA Margin 7.54% +7.2%
Operating Margin 3.96% +16.5%
Net Margin 2.45% +37.6%
ROE 6.51% +45.9%
ROIC 5.79% +23.8%
Debt/Equity 0.60 -10.6%
Interest Coverage 8.49 +35.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 35.3%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 12.7%
✓Trading at only 0.7x book value
✓Efficient asset utilization: 154.0x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.55%

5Y12.7%

3Y9.12%

TTM9.02%

Profit (Net Income) CAGR

10Y3.82%

5Y35.3%

3Y-7.27%

TTM49.97%

EPS CAGR

10Y3.84%

5Y35.2%

3Y-7.28%

TTM23868.42%

ROCE

10Y Avg9.96%

5Y Avg8.22%

3Y Avg8.76%

Latest15.42%

Peer Comparison

Family & Diner Casual

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BJRIBJ's Restaurants, Inc.	956.77M	45.27	64.67	1.81%	1.99%	7.12%	2.57%	1.35
FWRGFirst Watch Restaurant Group, Inc.	992.38M	16.26	54.20	13.95%	0.24%	0.44%		1.36
DRIDarden Restaurants, Inc.	23.78B	206.55	23.31	6.03%	8.9%	49.43%	4.35%	2.70
EATBrinker International, Inc.	7.39B	166.27	19.98	21.95%	7.94%	129.14%	5.6%	4.57
CAKEThe Cheesecake Factory Incorporated	2.98B	59.75	18.67	4.13%	4.33%	39.63%	3.63%	4.30
CBRLCracker Barrel Old Country Store, Inc.	715.84M	32.06	15.56	0.37%	1.33%	10.05%	8.42%	2.44
DENNDenny's Corporation	321.87M	6.25	15.24	-2.5%	3.53%		0.29%
BDLFlanigan's Enterprises, Inc.	59.01M	31.75	11.72	8.99%	2.45%	6.36%	7.93%	0.60

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	103.62M	106.82M	113.28M	115.99M	112.87M	137.04M	157.96M	174.4M	188.32M	205.25M
Revenue Growth %	0.05%	0.03%	0.06%	0.02%	-0.03%	0.21%	0.15%	0.1%	0.08%	0.09%
Cost of Goods Sold+	78.49M	81.87M	86.11M	89.06M	90.15M	108.38M	117.6M	141.56M	147.43M	166.25M
COGS % of Revenue	0.76%	0.77%	0.76%	0.77%	0.8%	0.79%	0.74%	0.81%	0.78%	0.81%
Gross Profit+	25.13M	24.95M	27.17M	26.93M	22.72M	28.66M	40.36M	32.83M	40.9M	39M
Gross Margin %	0.24%	0.23%	0.24%	0.23%	0.2%	0.21%	0.26%	0.19%	0.22%	0.19%
Gross Profit Growth %	0.04%	-0.01%	0.09%	-0.01%	-0.16%	0.26%	0.41%	-0.19%	0.25%	-0.05%
Operating Expenses+	18.32M	18.7M	19.73M	20.61M	19.81M	20.01M	33.43M	25.81M	34.5M	30.87M
OpEx % of Revenue	0.18%	0.18%	0.17%	0.18%	0.18%	0.15%	0.21%	0.15%	0.18%	0.15%
Selling, General & Admin	18.32M	18.7M	19.95M	20.82M	19.92M	20.27M	33.6M	25.81M	5.34M	5.46M
SG&A % of Revenue	0.18%	0.18%	0.18%	0.18%	0.18%	0.15%	0.21%	0.15%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	-217K	-213K	-109K	-262K	-173K	0	29.16M	25.41M
Operating Income+	6.8M	6.26M	7.44M	6.32M	2.91M	8.65M	6.93M	7.02M	6.4M	8.12M
Operating Margin %	0.07%	0.06%	0.07%	0.05%	0.03%	0.06%	0.04%	0.04%	0.03%	0.04%
Operating Income Growth %	-0.08%	-0.08%	0.19%	-0.15%	-0.54%	1.97%	-0.2%	0.01%	-0.09%	0.27%
EBITDA+	9.49M	8.93M	10.25M	9.36M	9.2M	14.26M	12.33M	13.14M	13.24M	15.47M
EBITDA Margin %	0.09%	0.08%	0.09%	0.08%	0.08%	0.1%	0.08%	0.08%	0.07%	0.08%
EBITDA Growth %	-0.05%	-0.06%	0.15%	-0.09%	-0.02%	0.55%	-0.14%	0.07%	0.01%	0.17%
D&A (Non-Cash Add-back)	2.69M	2.67M	2.8M	3.04M	6.29M	5.61M	5.4M	6.11M	6.84M	7.35M
EBIT	6.8M	6.26M	7.44M	6.32M	2.96M	18.89M	10.57M	7.13M	6.61M	9.6M
Net Interest Income+	-465K	-498K	-683K	-654K	-787K	-880K	-626K	-959K	-812K	-561K
Interest Income	92K	102K	70K	54K	49K	58K	131K	108K	207K	396K
Interest Expense	557K	600K	753K	708K	836K	938K	757K	1.07M	1.02M	957K
Other Income/Expense	-465K	-498K	-683K	-52K	-787K	9.3M	2.88M	-959K	-810K	516K
Pretax Income+	6.34M	5.76M	6.76M	6.26M	2.12M	17.95M	9.81M	6.07M	5.59M	8.64M
Pretax Margin %	0.06%	0.05%	0.06%	0.05%	0.02%	0.13%	0.06%	0.03%	0.03%	0.04%
Income Tax+	1.37M	1.37M	1.37M	887K	-60K	1.19M	763K	649K	286K	622K
Effective Tax Rate %	0.48%	0.52%	0.54%	0.86%	0.52%	0.66%	0.64%	0.66%	0.6%	0.58%
Net Income+	3.04M	3.02M	3.68M	5.38M	1.11M	11.78M	6.31M	4M	3.36M	5.03M
Net Margin %	0.03%	0.03%	0.03%	0.05%	0.01%	0.09%	0.04%	0.02%	0.02%	0.02%
Net Income Growth %	-0.12%	-0.01%	0.22%	0.46%	-0.79%	9.62%	-0.46%	-0.37%	-0.16%	0.5%
Net Income (Continuing)	4.97M	4.39M	5.39M	5.38M	2.18M	16.77M	9.05M	5.42M	5.3M	8.02M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	6.99M	6.2M	6.15M	6.21M	6.13M	9.41M	17.67M	15.69M	14.19M	13.94M
EPS (Diluted)+	1.64	1.63	1.98	2.89	0.60	6.34	3.40	2.15	1.81	2.71
EPS Growth %	-0.12%	-0.01%	0.21%	0.46%	-0.79%	9.57%	-0.46%	-0.37%	-0.16%	0.5%
EPS (Basic)	1.64	1.63	1.98	2.89	0.60	6.34	3.40	2.15	1.81	2.71
Diluted Shares Outstanding	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M
Basic Shares Outstanding	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M	1.86M
Dividend Payout Ratio	0.11%	0.12%	0.13%	0.1%	-	-	0.29%	0.21%	0.28%	0.2%

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	15.33M	14.94M	19.02M	19.59M	36.51M	39.79M	50.89M	35.29M	31.53M	30.59M
Cash & Short-Term Investments	10.17M	9.88M	13.41M	13.67M	29.92M	32.68M	42.14M	25.53M	21.4M	20.09M
Cash Only	10.17M	9.88M	13.41M	13.67M	29.92M	32.68M	42.14M	25.53M	21.4M	20.09M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	689K	496K	474K	870K	681K	450K	456K	834K	1.06M	892K
Days Sales Outstanding	2.43	1.69	1.53	2.74	2.2	1.2	1.05	1.75	2.06	1.59
Inventory	2.63M	2.84M	3.22M	3.29M	3.62M	4.28M	6.49M	7.2M	7.02M	6.92M
Days Inventory Outstanding	12.24	12.67	13.66	13.49	14.67	14.42	20.14	18.56	17.38	15.19
Other Current Assets	381K	299K	0	0	0	777K	0	0	0	705K
Total Non-Current Assets+	41.23M	45.57M	48.24M	49.16M	75.98M	88.21M	96.6M	110.47M	110.55M	110.03M
Property, Plant & Equipment	38.15M	42.7M	45.78M	47.77M	74.08M	85.56M	94.73M	107.19M	108.7M	0
Fixed Asset Turnover	2.72x	2.50x	2.47x	2.43x	1.52x	1.60x	1.67x	1.63x	1.73x	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1.29M	1.17M	630K	630K	630K	822K	1.27M	1.27M	1.27M	1.27M
Long-Term Investments	212K	237K	251K	231K	621K	1.12M	294K	252K	274K	322K
Other Non-Current Assets	716K	461K	967K	277K	290K	705K	310K	1.76M	311K	108.44M
Total Assets+	56.56M	60.51M	67.27M	68.75M	112.48M	128M	147.49M	145.77M	142.08M	1.33M
Asset Turnover	1.83x	1.77x	1.68x	1.69x	1.00x	1.07x	1.07x	1.20x	1.33x	153.97x
Asset Growth %	0.04%	0.07%	0.11%	0.02%	0.64%	0.14%	0.15%	-0.01%	-0.03%	-0.99%
Total Current Liabilities+	11.46M	11.01M	13.31M	13.13M	25.36M	20.22M	22.18M	22.37M	19.92M	18.12M
Accounts Payable	7.79M	8.07M	9.22M	8.53M	9.24M	6.42M	8.11M	9.27M	7.21M	9.08M
Days Payables Outstanding	36.22	35.96	39.08	34.97	37.4	21.62	25.17	23.9	17.86	19.94
Short-Term Debt	1.47M	1.08M	1.96M	1.98M	5.09M	2.56M	2.3M	1.29M	1.4M	4.19M
Deferred Revenue (Current)	0	0	0	0	0	1000K	1000K	1000K	1000K	0
Other Current Liabilities	2.2M	1.87M	2.13M	2.61M	3.14M	0	0	0	1.8M	4.85M
Current Ratio	1.34x	1.36x	1.43x	1.49x	1.44x	1.97x	2.29x	1.58x	1.58x	1.69x
Quick Ratio	1.11x	1.10x	1.19x	1.24x	1.30x	1.76x	2.00x	1.26x	1.23x	1.31x
Cash Conversion Cycle	-21.55	-21.6	-23.89	-18.74	-20.53	-6	-3.98	-3.6	1.58	-3.16
Total Non-Current Liabilities+	8.79M	11.32M	12.61M	11.1M	41.57M	47.15M	51.98M	48.48M	46.75M	43.41M
Long-Term Debt	8.79M	11.32M	12.61M	11.1M	21.23M	19.56M	23.09M	21.83M	20.51M	19.13M
Capital Lease Obligations	0	0	0	0	20.34M	27.18M	28.28M	25.85M	25.85M	23.79M
Deferred Tax Liabilities	0	0	0	0	0	406K	605K	801K	389K	481K
Other Non-Current Liabilities	0	0	0	0	0	406K	0	801K	0	0
Total Liabilities	20.25M	22.33M	25.92M	24.23M	66.93M	67.37M	74.15M	70.86M	66.67M	226K
Total Debt+	10.26M	12.4M	14.58M	13.08M	54.55M	51.31M	55.92M	51.36M	50.23M	47.12M
Net Debt	81K	2.51M	1.16M	-592K	24.63M	18.63M	13.79M	25.83M	28.82M	27.02M
Debt / Equity	0.28x	0.32x	0.35x	0.29x	1.20x	0.85x	0.76x	0.69x	0.67x	0.60x
Debt / EBITDA	1.08x	1.39x	1.42x	1.40x	5.93x	3.60x	4.54x	3.91x	3.79x	3.05x
Net Debt / EBITDA	0.01x	0.28x	0.11x	-0.06x	2.68x	1.31x	1.12x	1.97x	2.18x	1.75x
Interest Coverage	12.21x	10.43x	9.89x	8.92x	3.48x	9.22x	9.15x	6.58x	6.28x	8.49x
Total Equity+	36.32M	38.18M	41.34M	44.53M	45.56M	60.63M	73.34M	74.91M	75.41M	79.1M
Equity Growth %	0.07%	0.05%	0.08%	0.08%	0.02%	0.33%	0.21%	0.02%	0.01%	0.05%
Book Value per Share	19.54	20.54	22.24	23.96	24.51	32.62	39.46	40.31	40.57	42.56
Total Shareholders' Equity	29.33M	31.98M	35.19M	38.32M	39.43M	51.22M	55.67M	59.23M	61.22M	65.16M
Common Stock	420K	420K	420K	420K	420K	420K	420K	420K	420K	420K
Retained Earnings	28.75M	31.4M	34.61M	37.74M	38.85M	50.63M	55.09M	58.25M	60.67M	64.69M
Treasury Stock	-6.08M	-6.08M	-6.08M	-6.08M	-6.08M	-6.08M	-6.08M	-6.08M	-6.08M	-6.08M
Accumulated OCI	0	0	0	0	0	0	0	395K	-41K	0
Minority Interest	6.99M	6.2M	6.15M	6.21M	6.13M	9.41M	17.67M	15.69M	14.19M	13.94M

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	8.77M	8.25M	9.96M	9.63M	8.79M	14.05M	10.5M	8.49M	6.63M	10.51M
Operating CF Margin %	0.08%	0.08%	0.09%	0.08%	0.08%	0.1%	0.07%	0.05%	0.04%	0.05%
Operating CF Growth %	-0.21%	-0.06%	0.21%	-0.03%	-0.09%	0.6%	-0.25%	-0.19%	-0.22%	0.59%
Net Income	4.97M	4.39M	5.39M	5.38M	1.11M	11.78M	9.05M	5.42M	5.3M	5.03M
Depreciation & Amortization	2.56M	2.54M	2.8M	3.04M	6.29M	5.61M	5.4M	6.11M	6.82M	7.32M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	35K	-55K	686K	363K	-103K	758K	199K	62K	-265K	-20K
Other Non-Cash Items	376K	153K	26K	205K	1.15M	-5.08M	-3.45M	94K	78K	3.1M
Working Capital Changes	823K	1.22M	1.02M	642K	335K	985K	-696K	-3.2M	-5.3M	-4.92M
Change in Receivables	498K	1.11M	1.12M	1.71M	-228K	43K	-6K	-2.44M	-199K	142K
Change in Inventory	-223K	-209K	-381K	-222K	-332K	-659K	-1.43M	-709K	178K	100K
Change in Payables	498K	276K	262K	-964K	590K	190K	898K	-55K	-2.07M	-1.97M
Cash from Investing+	-3.37M	-7.05M	-5.21M	-4.61M	-3.27M	-11.59M	-9.54M	-18.56M	-5.14M	-6.51M
Capital Expenditures	-3.07M	-7.15M	-5.33M	-5.75M	-3.08M	-11.32M	-9.55M	-18.67M	-3.44M	-5.83M
CapEx % of Revenue	0.03%	0.07%	0.05%	0.05%	0.03%	0.08%	0.06%	0.11%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-298K	93K	126K	1.11M	218K	139K	87K	51K	-1.7M	-684K
Cash from Financing+	-4.49M	-1.49M	-1.22M	-4.76M	10.74M	294K	8.5M	-6.54M	-5.62M	-5.32M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-344K	-372K	-465K	-520K	0	0	-1.86M	-838K	-929K	-1.02M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.1M	-2.25M	-1.76M	-1.67M	-1.16M	-1.75M	5.39M	-3.4M	-3.44M	-2.97M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	5.69M	1.11M	4.63M	3.87M	5.7M	2.73M	948K	-10.18M	1.39M	4.68M
FCF Margin %	0.05%	0.01%	0.04%	0.03%	0.05%	0.02%	0.01%	-0.06%	0.01%	0.02%
FCF Growth %	-0.21%	-0.81%	3.18%	-0.16%	0.47%	-0.52%	-0.65%	-11.74%	1.14%	2.38%
FCF per Share	3.06	0.60	2.49	2.08	3.07	1.47	0.51	-5.48	0.75	2.52
FCF Conversion (FCF/Net Income)	2.88x	2.73x	2.71x	1.79x	7.91x	1.19x	1.66x	2.12x	1.98x	2.09x
Interest Paid	559K	600K	753K	708K	836K	938K	757K	1.07M	967K	0
Taxes Paid	1.66M	1.15M	875K	322K	61K	371K	660K	571K	501K	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.67%	8.11%	9.25%	12.52%	2.46%	22.2%	9.42%	5.39%	4.46%	6.51%
Return on Invested Capital (ROIC)	14.11%	12.18%	13.42%	10.96%	3.83%	8.68%	6.25%	5.61%	4.68%	5.79%
Gross Margin	24.25%	23.36%	23.99%	23.21%	20.13%	20.91%	25.55%	18.83%	21.72%	19%
Net Margin	2.93%	2.83%	3.25%	4.64%	0.98%	8.6%	4%	2.29%	1.78%	2.45%
Debt / Equity	0.28x	0.32x	0.35x	0.29x	1.20x	0.85x	0.76x	0.69x	0.67x	0.60x
Interest Coverage	12.21x	10.43x	9.89x	8.92x	3.48x	9.22x	9.15x	6.58x	6.28x	8.49x
FCF Conversion	2.88x	2.73x	2.71x	1.79x	7.91x	1.19x	1.66x	2.12x	1.98x	2.09x
Revenue Growth	4.54%	3.09%	6.05%	2.39%	-2.69%	21.42%	15.26%	10.41%	7.98%	8.99%

Revenue by Segment

	2012	2020	2021	2024	2025
Restaurant Food Sales Member	-	-	-	114.8M	124.5M
Restaurant Food Sales Member Growth	-	-	-	-	8.46%
Package Store Sales Member	13.21M	-	-	40.5M	46.99M
Package Store Sales Member Growth	-	-	-	-	16.03%
Restaurant Bar Sales Member	-	-	-	30.01M	31.76M
Restaurant Bar Sales Member Growth	-	-	-	-	5.84%
Intersegment Revenues Member	-	-	-	-	4.53M
Intersegment Revenues Member Growth	-	-	-	-	-
Franchise Related Revenues Member	-	-	-	1.69M	1.75M
Franchise Related Revenues Member Growth	-	-	-	-	3.60%
Rental Income Member	-	-	-	1.1M	-
Rental Income Member Growth	-	-	-	-	-
Restaurants	62.2M	84.65M	105.3M	-	-
Restaurants Growth	-	36.10%	24.39%	-	-
Package stores	-	26.28M	29.3M	-	-
Package stores Growth	-	-	11.52%	-	-

Frequently Asked Questions

Valuation & Price

Flanigan's Enterprises, Inc. (BDL) has a price-to-earnings (P/E) ratio of 11.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Flanigan's Enterprises, Inc. (BDL) reported $205.2M in revenue for fiscal year 2025. This represents a 165% increase from $77.3M in 2012.

Flanigan's Enterprises, Inc. (BDL) grew revenue by 9.0% over the past year. This is steady growth.

Yes, Flanigan's Enterprises, Inc. (BDL) is profitable, generating $5.0M in net income for fiscal year 2025 (2.5% net margin).

Dividend & Returns

Yes, Flanigan's Enterprises, Inc. (BDL) pays a dividend with a yield of 1.73%. This makes it attractive for income-focused investors.

Flanigan's Enterprises, Inc. (BDL) has a return on equity (ROE) of 6.5%. This is below average, suggesting room for improvement.

Flanigan's Enterprises, Inc. (BDL) generated $4.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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