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BTBD logoBT Brands, Inc.(BTBD)Earnings, Financials & Key Ratios

BTBD•NASDAQ
Price updated Jun 17, 2026
SectorConsumer CyclicalIndustryRestaurantsSub-IndustryQuick-Service Food Chains
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$13M-9.0%
  • EBITDA$257K+126.5%
  • Net Income-$688K+70.2%
  • EPS (Diluted)-0.11+70.3%
  • Gross Margin28.78%+38.1%
  • EBITDA Margin1.9%+129.2%
  • Operating Margin-2.91%+74.8%
  • Net Margin-5.1%+67.3%
  • ROE-10.28%+64.1%

BTBD Key Insights

BT Brands, Inc. (BTBD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 8/9
  • ✓Strong 5Y sales CAGR of 10.6%
  • ✓Trading at only 1.1x book value
  • ✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

  • ✗Weak momentum: RS Rating 15 (bottom 15%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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BTBD Price & Volume

BT Brands, Inc. (BTBD) stock price & volume — 10-year historical chart

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BTBD Growth Metrics

BT Brands, Inc. (BTBD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.66%
5 Years10.57%
3 Years2.29%
TTM-11.88%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM49.48%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM48.3%

Return on Capital

10 Years3.56%
5 Years-3.77%
3 Years-9.46%
Last Year-3.9%

BTBD Peer Comparison

BT Brands, Inc. (BTBD) competitors in Quick-Service Food Chains — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
DENN logoDENNDenny's CorporationDirect Competitor321.87M6.2515.24-2.5%2.24%
ARKR logoARKRArk Restaurants Corp.Direct Competitor22.83M6.33-1.99-9.69%-3.97%-19.23%2.67
KRUS logoKRUSKura Sushi USA, Inc.Direct Competitor584.6M49.06-306.6318.88%-1.37%-1.75%0.74
FWRG logoFWRGFirst Watch Restaurant Group, Inc.Direct Competitor707.68M11.4837.0320.34%1.38%2.85%1.18
QSR logoQSRRestaurant Brands International Inc.Product Competitor25.7B74.1731.5612.23%9.96%18.45%3.41
WEN logoWENThe Wendy's CompanyProduct Competitor1.32B6.958.18-3.1%7.81%150.73%35.31
JACK logoJACKJack in the Box Inc.Product Competitor236.51M12.40-2.95-6.75%2.82%
RRGB logoRRGBRed Robin Gourmet Burgers, Inc.Product Competitor116.73M6.31-4.82-3.07%-2.23%

Compare BTBD vs Peers

BT Brands, Inc. (BTBD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DENN

Most directly comparable listed peer for BTBD.

Scale Benchmark

vs MCD

Larger-name benchmark to compare BTBD against a more recognizable public peer.

Peer Set

Compare Top 5

vs DENN, ARKR, KRUS, FWRG

BTBD Income Statement

BT Brands, Inc. (BTBD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
7.11M7.05M6.48M8.16M8.45M12.6M14.08M14.82M13.49M13.1M
Revenue Growth %
33.9%-0.83%-8.1%25.91%3.58%49.09%11.71%5.31%-9.02%-11.88%
Cost of Goods Sold
6.51M5.07M4.71M5.43M5.67M8.98M11.06M11.73M9.61M9.91M
COGS % of Revenue
91.57%71.94%72.75%66.51%67.07%71.27%78.54%79.16%71.22%-
Gross Profit
599.57K▲ 0%
1.98M▲ 230.0%
1.77M▼ 10.7%
2.73M▲ 54.8%
2.78M▲ 1.8%
3.62M▲ 30.1%
3.02M▼ 16.5%
3.09M▲ 2.3%
3.88M▲ 25.6%
3.18M▲ 0%
Gross Margin %
8.43%28.06%27.25%33.49%32.93%28.73%21.46%20.84%28.78%24.31%
Gross Profit Growth %
-50.27%229.96%-10.73%54.76%1.83%30.08%-16.54%2.26%25.63%-
Operating Expenses
621.65K1.74M2.14M2.2M1.8M4.01M4.4M4.8M4.27M3.52M
OpEx % of Revenue
8.74%24.64%33.02%27.01%21.32%31.83%31.29%32.38%31.68%-
Selling, General & Admin
621.65K1.34M1.28M1.4M1.1M2.78M2.96M3.09M2.75M2.33M
SG&A % of Revenue
8.74%19%19.75%17.12%13%22.07%21.05%20.88%20.36%-
Research & Development
0000000000
R&D % of Revenue
----------
Other Operating Expenses
0397.87K859.78K806.43K703.85K1.23M1.44M1.71M1.53M1.18M
Operating Income
-22.08K▲ 0%
240.81K▲ 1190.6%
-373.55K▼ 255.1%
529.37K▲ 241.7%
980.71K▲ 85.3%
-391.16K▼ 139.9%
-1.38M▼ 253.5%
-1.71M▼ 23.7%
-391.82K▲ 77.1%
-332.43K▲ 0%
Operating Margin %
-0.31%3.42%-5.76%6.49%11.6%-3.1%-9.82%-11.54%-2.91%-2.54%
Operating Income Growth %
-107.89%1190.65%-255.12%241.71%85.26%-139.89%-253.5%-23.7%77.09%-
EBITDA
187.07K466.63K-162.46K718.75K1.21M57.87K-784.23K-967.58K256.89K311.45K
EBITDA Margin %
2.63%6.62%-2.51%8.81%14.37%0.46%-5.57%-6.53%1.9%2.38%
EBITDA Growth %
-50.82%149.44%-134.82%542.42%69.01%-95.24%-1455.07%-23.38%126.55%149.2%
D&A (Non-Cash Add-back)
209.15K225.81K211.09K189.39K234.03K449.04K598.54K742.86K648.7K643.88K
EBIT
-22.09K211.48K-360.74K1.1M980.71K-627.52K-934.76K-2.01M-606.22K-530.73K
Net Interest Income
0-176.87K-203.44K-74.13K-172.86K10.76K203.31K78.37K67.05K47.79K
Interest Income
190.78K894.4K103.62K0125.53K300.92K178.28K148.67K129.3K
Interest Expense
0176.96K207.84K177.76K172.86K114.77K97.61K99.91K81.62K81.51K
Other Income/Expense
-232.77K-206.29K-195.03K392.62K-172.86K-351.12K350.4K-394.77K-296.02K-776.57K
Pretax Income
-254.85K▲ 0%
34.53K▲ 113.5%
-568.58K▼ 1746.7%
921.99K▲ 262.2%
807.85K▼ 12.4%
-742.28K▼ 191.9%
-1.03M▼ 39.1%
-2.11M▼ 103.9%
-687.84K▲ 67.3%
-1.11M▲ 0%
Pretax Margin %
-3.58%0.49%-8.77%11.3%9.56%-5.89%-7.33%-14.2%-5.1%-8.47%
Income Tax
-413.72K-102K130K200K-180K-145K206K00
Effective Tax Rate %
0%39.75%17.94%14.1%24.76%24.25%14.05%-9.79%0%0%
Net Income
-254.85K▲ 0%
20.8K▲ 108.2%
-368.58K▼ 1871.7%
791.99K▲ 314.9%
607.85K▼ 23.3%
-562.28K▼ 192.5%
-887.37K▼ 57.8%
-2.31M▼ 160.5%
-687.84K▲ 70.2%
-1.11M▲ 0%
Net Margin %
-3.58%0.29%-5.69%9.71%7.19%-4.46%-6.3%-15.59%-5.1%-8.47%
Net Income Growth %
-198.19%108.16%-1871.75%314.88%-23.25%-192.5%-57.81%-160.46%70.24%49.48%
Net Income (Continuing)
-254.85K20.8K-466.58K791.99K607.85K-562.28K-887.37K-2.31M-687.84K-1.11M
Discontinued Operations
0000000000
Minority Interest
0000000000
EPS (Diluted)
-0.06▲ 0%
0.01▲ 108.1%
-0.09▼ 1886.3%
0.20▲ 319.5%
0.14▼ 30.0%
-0.09▼ 162.2%
-0.14▼ 60.7%
-0.37▼ 164.3%
-0.11▲ 70.3%
-0.18▲ 0%
EPS Growth %
-233.47%108.1%-319.54%-30%-162.21%-60.73%-164.29%70.27%48.3%
EPS (Basic)
-0.060.01-0.090.200.14-0.09-0.14-0.37-0.11-
Diluted Shares Outstanding
4.05M4.05M4.04M4.05M4.38M6.46M6.26M6.19M6.15M6.15M
Basic Shares Outstanding
4.05M4.05M4.04M4.05M4.38M6.46M6.26M6.19M6.15M6.15M
Dividend Payout Ratio
-142.15%--------

BTBD Balance Sheet

BT Brands, Inc. (BTBD) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
335.72K790.55K336.82K1.41M12.56M8.86M7.23M5M5.9M5.24M
Cash & Short-Term Investments
241.05K663.51K258.1K1.32M12.39M8.14M6.69M4.27M4.44M3.64M
Cash Only
241.05K663.51K258.1K1.32M12.39M2.15M5.3M1.95M846.17K1.01M
Short-Term Investments
000005.99M1.39M2.32M3.6M2.63M
Accounts Receivable
19.1K20.24K15.36K19.03K72.25K76.95K28.74K69.46K54.51K105.26K
Days Sales Outstanding
0.981.050.870.853.122.230.751.711.4811.71
Inventory
70.69K58.58K56.43K60.58K79.51K158.35K201.33K272.6K230.44K0
Days Inventory Outstanding
3.964.214.374.075.126.446.658.488.7612.27
Other Current Assets
040K0027.19K446.52K306K386.37K1.17M1.49M
Total Non-Current Assets
2.53M2.47M2.3M1.98M1.94M7.91M7.38M7M4.85M4.74M
Property, Plant & Equipment
2M2.05M2.1M1.63M1.59M5.75M5.04M5.07M3.72M3.58M
Fixed Asset Turnover
3.56x3.44x3.09x5.00x5.31x2.19x2.80x2.93x3.62x3.36x
Goodwill
00000671.22K671.22K796.22K796.22K796.22K
Intangible Assets
00000453.98K395.11K367.8K305.27K291.2K
Long-Term Investments
00179K75K75K1.37M1.02M304.44K0403.73K
Other Non-Current Assets
532.32K421.75K18.46K232.51K273.81K-395.62K49.2K461.54K21.17K74.14K
Total Assets
2.86M▲ 0%
3.26M▲ 14.0%
2.63M▼ 19.3%
3.39M▲ 28.7%
14.51M▲ 328.0%
16.77M▲ 15.6%
14.61M▼ 12.9%
12M▼ 17.9%
10.75M▼ 10.4%
9.98M▲ 0%
Asset Turnover
2.48x2.16x2.46x2.41x0.58x0.75x0.96x1.24x1.26x1.19x
Asset Growth %
134.86%14%-19.34%28.69%328%15.61%-12.88%-17.88%-10.43%-52.54%
Total Current Liabilities
805.28K731.77K805.15K1.03M925.31K2.13M1.55M1.44M1.22M1.27M
Accounts Payable
351.82K288.66K321.86K270.49K291.97K448.61K555.25K612.06K245.23K327.05K
Days Payables Outstanding
19.7220.7724.9218.1918.818.2318.3319.049.3210.97
Short-Term Debt
261.57K254.4K277.67K245.31K169.91K958.99K299.23K185.01K550.47K548.38K
Deferred Revenue (Current)
093.17K0010.04K026.84K0028.73K
Other Current Liabilities
16.77K13.73K136.83K202.59K24.66K0136.8K0322.89K398.43K
Current Ratio
0.42x1.08x0.42x1.36x13.58x4.15x4.66x3.46x4.84x4.11x
Quick Ratio
0.33x1.00x0.35x1.30x13.49x4.08x4.53x3.28x4.65x4.11x
Cash Conversion Cycle
-14.78-15.51-19.68-13.27-10.56-9.57-10.94-8.850.9113.01
Total Non-Current Liabilities
3.58M3.57M3.22M3.06M2.95M4.48M3.87M3.59M3.11M3.02M
Long-Term Debt
3.57M3.52M3.22M2.94M2.83M2.66M2.27M2.09M1.21M1.85M
Capital Lease Obligations
000001.83M1.6M1.5M04.94M
Deferred Tax Liabilities
048.5K-3.67K118K119K00000
Other Non-Current Liabilities
14.67K00118K00001.9M0
Total Liabilities
4.39M4.31M4.03M4.09M3.88M6.62M5.42M5.03M4.33M4.3M
Total Debt
3.83M3.77M3.5M3.18M3M5.64M4.38M4.05M1.76M3.57M
Net Debt
3.59M3.11M3.24M1.86M-9.38M3.49M-915.5K2.1M913.81K2.55M
Debt / Equity
----0.28x0.56x0.48x0.58x0.27x0.63x
Debt / EBITDA
20.48x8.08x-4.43x2.47x97.38x--6.85x11.46x
Net Debt / EBITDA
19.19x6.66x-2.59x-7.72x60.22x--3.56x8.20x
Interest Coverage
-1.20x-1.74x6.19x5.67x-5.47x-9.58x-20.07x-7.43x-6.51x
Total Equity
-1.52M▲ 0%
-1.04M▲ 31.7%
-1.4M▼ 34.1%
-702.32K▲ 49.7%
10.63M▲ 1613.4%
10.15M▼ 4.5%
9.19M▼ 9.5%
6.97M▼ 24.2%
6.42M▼ 7.9%
5.68M▲ 0%
Equity Growth %
-48689.39%31.71%-34.1%49.7%1613.35%-4.48%-9.49%-24.2%-7.85%-53.85%
Book Value per Share
-0.38-0.26-0.35-0.172.431.571.471.121.040.92
Total Shareholders' Equity
-1.52M-1.04M-1.4M-702.32K10.63M10.15M9.19M6.97M6.42M5.68M
Common Stock
6.6K8.09K8.1K8.1K12.89K12.79K12.49K12.31K12.31K12.31K
Retained Earnings
-1.52M-1.53M-1.9M-1.21M-600.24K-1.16M-2.05M-4.36M-5.05M-5.8M
Treasury Stock
00000-106.88K-357.11K-499.72K-499.72K-499.72K
Accumulated OCI
-6.6K000000000
Minority Interest
0000000000

BTBD Cash Flow Statement

BT Brands, Inc. (BTBD) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
293.36K49.12K50.49K1.4M813.96K211.8K-258.79K-723.5K284.88K493.96K
Operating CF Margin %
4.13%0.7%0.78%17.13%9.63%1.68%-1.84%-4.88%2.11%-
Operating CF Growth %
5.38%-83.26%2.8%2667.83%-41.75%-73.98%-222.19%-179.58%139.37%663.18%
Net Income
-254.85K20.8K-466.58K791.99K607.85K-562.28K-887.37K-2.31M-687.84K-1.11M
Depreciation & Amortization
209.15K225.81K211.09K189.39K234.03K449.04K598.54K742.86K648.7K643.88K
Stock-Based Compensation
0013.5K026.25K118.7K174K230.5K141K126.38K
Deferred Taxes
00-102K20K1K-180K-145K206K00
Other Non-Cash Items
194.79K-150.68K342.16K160.04K56.91K238.99K-230.09K603.66K330.36K709.83K
Working Capital Changes
291.29K-46.82K52.31K236.1K-112.08K147.35K231.13K-195.31K-147.35K122.88K
Change in Receivables
-944-1.14K4.88K-3.67K-53.22K-4.7K48.21K-40.72K14.95K18.4K
Change in Inventory
-17.14K12.11K2.15K-4.14K-18.93K-22.85K-42.98K-6.27K42.16K9.86K
Change in Payables
289.37K-63.16K33.2K-67.08K37.2K156.63K106.64K40.98K-366.83K31.68K
Cash from Investing
-155.77K216.58K-179K24.58K-207.92K-11.04M4.71M-2.18M-1.06M-209.04K
Capital Expenditures
-462.19K-66.65K0-154.42K-207.92K-478.4K-488.39K-494.06K-172.93K-88.67K
CapEx % of Revenue
6.5%0.95%-1.89%2.46%3.8%3.47%3.33%1.28%0.68%
Acquisitions
22.48K0000-4.49M0-943K00
Investments
----------
Other Investing
302.31K300K0179K0-37.54K496K130K-120.49K-183.21K
Cash from Financing
-91.89K156.77K-276.9K-358.96K10.46M590.7K-1.3M-440.85K-329.72K-340.04K
Debt Issued (Net)
-47.73K-264.93K-276.9K-358.96K-188.52K622.84K-1.05M-298.06K-189.27K-10.32K
Equity Issued (Net)
0492.27K0010.7M-107.01K-250.53K-142.79K00
Dividends Paid
-44.15K-29.57K00000000
Share Repurchases
00000-107.01K-250.53K-142.79K00
Other Financing
0-41K00-49.7K74.87K00-140.45K-329.72K
Net Change in Cash
45.7K▲ 0%
422.46K▲ 824.4%
-405.41K▼ 196.0%
1.06M▲ 362.2%
11.06M▲ 940.7%
-10.24M▼ 192.5%
3.15M▲ 130.8%
-3.35M▼ 206.3%
-1.11M▲ 67.0%
-55.11K▲ 0%
Free Cash Flow
-168.83K▲ 0%
-17.54K▲ 89.6%
50.49K▲ 387.9%
1.24M▲ 2362.1%
606.03K▼ 51.2%
-266.6K▼ 144.0%
-747.17K▼ 180.3%
-1.22M▼ 63.0%
111.95K▲ 109.2%
405.29K▲ 0%
FCF Margin %
-2.37%-0.25%0.78%15.23%7.17%-2.12%-5.31%-8.21%0.83%3.09%
FCF Growth %
-183.19%89.61%387.92%2362.12%-51.25%-143.99%-180.26%-62.96%109.19%135.95%
FCF per Share
-0.04-0.000.010.310.14-0.04-0.12-0.200.020.07
FCF Conversion (FCF/Net Income)
-1.15x2.36x-0.14x1.76x1.34x-0.38x0.29x0.31x-0.41x-0.37x
Interest Paid
0170.97K202.1K133.21K119.3K109.37K85.92K93.7K0-114
Taxes Paid
0000114.18K209.09K0000

BTBD Key Ratios

BT Brands, Inc. (BTBD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
----12.25%-5.41%-9.18%-28.61%-10.28%-16.67%
Return on Invested Capital (ROIC)
-1.24%8.75%-14.33%26.42%61.12%-3.94%-9.47%-14.8%-3.58%-2.57%
Gross Margin
8.43%28.06%27.25%33.49%32.93%28.73%21.46%20.84%28.78%24.31%
Net Margin
-3.58%0.29%-5.69%9.71%7.19%-4.46%-6.3%-15.59%-5.1%-8.47%
Debt / Equity
----0.28x0.56x0.48x0.58x0.27x0.63x
Interest Coverage
-1.20x-1.74x6.19x5.67x-5.47x-9.58x-20.07x-7.43x-6.51x
FCF Conversion
-1.15x2.36x-0.14x1.76x1.34x-0.38x0.29x0.31x-0.41x-0.37x
Revenue Growth
33.9%-0.83%-8.1%25.91%3.58%49.09%11.71%5.31%-9.02%-11.88%
Related:BTBD Dividend History·BTBD Revenue History·BTBD Price History·BTBD P/E History·BTBD Financial Ratios·BTBD Institutional Holders

BTBD SEC Filings & Documents

BT Brands, Inc. (BTBD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Apr 16, 2026·SEC

Material company update

Apr 6, 2026·SEC

10-K Annual Reports

6
FY 2026

Mar 31, 2026·SEC

FY 2025

Mar 31, 2025·SEC

FY 2024

Apr 1, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 18, 2026·SEC

FY 2025

Nov 17, 2025·SEC

FY 2025

Aug 19, 2025·SEC

BTBD Frequently Asked Questions

BT Brands, Inc. (BTBD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

BT Brands, Inc. (BTBD) reported $13.1M in revenue for fiscal year 2025. This represents a 167% increase from $4.9M in 2013.

BT Brands, Inc. (BTBD) saw revenue decline by 9.0% over the past year.

BT Brands, Inc. (BTBD) reported a net loss of $1.1M for fiscal year 2025.

Dividend & Returns

BT Brands, Inc. (BTBD) has a return on equity (ROE) of -10.3%. Negative ROE indicates the company is unprofitable.

BT Brands, Inc. (BTBD) generated $0.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in BTBD back in 2013?

Total return calculator · dividends reinvested · 13+ years of data

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How much would $100/month in BTBD be worth today?

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