Latest Ratios: P/E Ratio -9.7x · EV/EBITDA 29.3x · ROE -10.3%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $7M | $9M | $9M | $16M | $12M | $13M | — | — | — | — | — |
| Enterprise Value | $8M | $10M | $11M | $15M | $15M | $4M | — | — | — | — | — |
| P/E Ratio → | -9.73 | — | — | — | — | 21.09 | — | — | — | — | — |
| P/S Ratio | 0.49 | 0.66 | 0.60 | 1.11 | 0.94 | 1.53 | — | — | — | — | — |
| P/B Ratio | 1.03 | 1.38 | 1.28 | 1.70 | 1.16 | 1.22 | — | — | — | — | — |
| P/FCF | 59.11 | 79.17 | — | — | — | 21.35 | — | — | — | — | — |
| P/OCF | 23.23 | 31.11 | — | — | 55.75 | 15.90 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.72 | 0.74 | 1.05 | 1.21 | 0.42 | — | — | — | — | — |
| EV / EBITDA | 29.32 | 38.06 | — | — | 264.24 | 2.93 | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | 3.63 | — | — | — | — | — |
| EV / FCF | — | 87.33 | — | — | — | 5.87 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.8% | 28.8% | 20.8% | 21.5% | 28.7% | 32.9% | 33.5% | 27.3% | 28.1% | 8.4% | 22.7% |
| Operating Margin | -2.9% | -2.9% | -11.5% | -9.8% | -3.1% | 11.6% | 6.5% | -5.8% | 3.4% | -0.3% | 5.3% |
| Net Profit Margin | -5.1% | -5.1% | -15.6% | -6.3% | -4.5% | 7.2% | 9.7% | -5.7% | 0.3% | -3.6% | 4.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.3% | -10.3% | -28.6% | -9.2% | -5.4% | 12.2% | — | — | — | — | 8270.9% |
| ROA | -6.0% | -6.0% | -17.4% | -5.7% | -3.6% | 6.8% | 26.3% | -12.5% | 0.7% | -12.5% | 20.7% |
| ROIC | -3.6% | -3.6% | -14.8% | -9.5% | -3.9% | 61.1% | 26.4% | -14.3% | 8.7% | -1.2% | 30.7% |
| ROCE | -3.9% | -3.9% | -14.5% | -10.0% | -2.8% | 12.3% | 25.3% | -17.1% | 10.5% | -1.6% | 37.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.27 | 0.27 | 0.58 | 0.48 | 0.56 | 0.28 | — | — | — | — | 271.94 |
| Debt / EBITDA | 6.85 | 6.85 | — | — | 97.38 | 2.47 | 4.43 | — | 8.08 | 20.48 | 2.24 |
| Net Debt / Equity | — | 0.14 | 0.30 | -0.10 | 0.34 | -0.88 | — | — | — | — | 189.09 |
| Net Debt / EBITDA | 3.56 | 3.56 | — | — | 60.22 | -7.72 | 2.59 | — | 6.66 | 19.19 | 1.56 |
| Debt / FCF | — | 8.16 | — | — | — | -15.48 | 1.50 | 64.18 | — | — | 2.92 |
| Interest Coverage | -7.43 | -7.43 | -20.07 | -9.58 | -5.47 | 5.67 | 6.19 | -1.74 | 1.20 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.84 | 4.84 | 3.46 | 4.66 | 4.15 | 13.58 | 1.36 | 0.42 | 1.08 | 0.42 | 0.64 |
| Quick Ratio | 4.65 | 4.65 | 3.28 | 4.53 | 4.08 | 13.49 | 1.30 | 0.35 | 1.00 | 0.33 | 0.55 |
| Cash Ratio | 3.65 | 3.65 | 2.96 | 4.32 | 3.82 | 13.39 | 1.28 | 0.32 | 0.91 | 0.30 | 0.50 |
| Asset Turnover | — | 1.26 | 1.24 | 0.96 | 0.75 | 0.58 | 2.41 | 2.46 | 2.16 | 2.48 | 4.35 |
| Inventory Turnover | 41.68 | 41.68 | 43.04 | 54.91 | 56.72 | 71.30 | 89.59 | 83.54 | 86.60 | 92.10 | 83.06 |
| Days Sales Outstanding | — | 1.48 | 1.71 | 0.75 | 2.23 | 3.12 | 0.85 | 0.87 | 1.05 | 0.98 | 1.47 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | 142.2% | — | 64.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 4.7% | — | — | — | — | — |
| FCF Yield | 1.7% | 1.3% | — | — | — | 4.7% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 1.6% | 1.6% | 0.9% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 1.6% | 1.6% | 0.9% | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $6M | $6M | $6M | $6M | $4M | $4M | $4M | $4M | $4M | $6M |
Liquidity and operational insolvency
As reported in recent financial filings, BTBD trades at a P/S ratio of 0.48, which appears to reflect the market's skepticism regarding the company's ability to reverse its -9.02% revenue decline and achieve a sustainable path toward positive earnings in the current competitive environment.
The negative P/E of -9.55 and the absence of a forward P/E suggest that investors are currently unable to assign a value based on earnings, shifting the focus entirely to asset-based or sales-based metrics. This valuation discount relative to peers like First Watch suggests that the market is pricing in a high probability of continued operational contraction rather than a turnaround.
Based on the company's reported figures, the gross margin has contracted to 4.1% in 2026Q1, a significant deterioration from the 36.0% peak observed in 2025Q3, indicating that the business lacks the scale to absorb inflationary pressures on labor and food costs effectively.
The negative operating margin of -2.91% underscores a structural inability to cover corporate overhead with current store-level profits. Investors should monitor whether this margin weakness is a temporary result of commodity volatility or a permanent shift in the company's competitive positioning within its regional markets.
According to the latest quarterly data, BTBD's ROIC has plummeted to -2.0% in 2026Q1, reflecting a consistent decay in the company's ability to generate returns on its invested capital as it struggles to maintain a viable footprint in the North Central United States.
The persistent negative ROIC suggests that capital allocated to store operations is currently destroying rather than creating shareholder value. This trend warrants further investigation into whether the company's asset base is being efficiently utilized or if significant impairment charges are required to reflect the true economic reality of its restaurant locations.
As indicated by recent balance sheet filings, the company's cash reserves have dwindled significantly, leaving the business with limited financial flexibility to navigate the current period of negative cash flow and potential regional economic headwinds that could further impact its transactional revenue model.
While the current ratio of 4.11 appears high, it may be misleading if inventory or other current assets are not readily convertible to cash to meet immediate obligations. The company's reliance on consistent cash flow to fund operations makes its current liquidity position appear increasingly vulnerable to any unexpected operational shocks.
Investors frequently misapply the P/B ratio of 1.01 to BTBD, which obscures the potential for significant asset impairment and the reality that the company's book value may not represent a liquidation floor given the specialized nature of its restaurant leasehold interests.
Relying on book value in a declining restaurant business often ignores the fact that the underlying assets may be worth significantly less than their carrying value if they cannot generate positive cash flows. A more appropriate metric for this business model would be an enterprise value-to-unit count or a focus on free cash flow yield, which better captures the operational viability of the individual restaurant units.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying BTBD stock.
BT Brands, Inc.'s current P/E ratio is -9.7x. The historical average is 21.1x.
BT Brands, Inc.'s current EV/EBITDA is 29.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.5x.
BT Brands, Inc.'s return on equity (ROE) is -10.3%. The historical average is -8.2%.
Based on historical data, BT Brands, Inc. is trading at a P/E of -9.7x. Compare with industry peers and growth rates for a complete picture.
BT Brands, Inc. has 28.8% gross margin and -2.9% operating margin.
BT Brands, Inc.'s Debt/EBITDA ratio is 6.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.