NATHANS FAMOUS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NATHANS FAMOUS, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	96.3	104	102	103	75.8	115	131	139	148	162
Cost of revenue	51.6	58.8	52.8	54.5	32.5	65.2	75.2	83.2	89.7	107
Gross profit	44.6	45.4	49.1	48.8	43.3	49.7	55.6	55.4	58.5	55.5
General and administrative	13.7	13.5	13.9	14.8	12	13.1	14.1	15.6	14.5	17.9
Operating income	26.3	27.1	28	27.2	25.5	29.9	34.4	32.5	36.5	30.1
Interest expense								5.36	4.11	2.86
Interest income	0.1	0.17	0.84	1.36	0.36	0.11	0.44	0.38	0.67	0.78
Other non-operating income	0.09	0.1	0.21	0.09	0.05	0.05	0.02	0.09	0.09	0.17
Pre-tax income	11.8	4.11	29.4	18	15.3	18.5	26.8	27.5	32.8	28.2
Income tax	4.32	1.48	7.92	4.58	4.25	4.94	7.18	7.84	8.74	8.17
Net income	7.49	2.63	21.5	13.4	11.1	13.6	19.6	19.6	24	20
EBITDA	27.6	28.5	29.2	28.4	26.7	30.9	35.6	33.6	37.5	31
EPS, basic	1.79	0.63	5.13	3.19	2.69	3.30	4.80	4.81	5.88	4.89
EPS, diluted	1.78	0.62	5.09	3.19	2.69	3.30	4.80	4.80	5.87	4.85
Shares, basic (weighted)	4.17	4.18	4.19	4.22	4.12	4.12	4.09	4.08	4.09	4.09
Shares, diluted (weighted)	4.21	4.22	4.22	4.22	4.12	4.12	4.09	4.09	4.1	4.12
Dividend per share		5.00	1.00	1.40	1.40	1.50	1.85	2.00	2.00	4.50

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	56.9	57.3	75.4	77.1	81.1	50.1	29.9	21	27.8	24.4
Inventory	0.58	0.38	0.54	0.38	0.62	0.52	0.54	0.84	1.22	0.89
Other current assets	0.77	0.98	0.18	0.47	0.37	0.39	0.47	0.4	0.3	0.39
Total current assets	67.5	71.7	87.2	89.8	94.7	65.4	47.4	38.8	45.1	47.1
Property, plant and equipment	8.84	6.64	4.89	4.61	4.09	3.79	3.32	2.67	2.11	1.73
Lease right-of-use assets				9.18	8.34	7.42	6.42	6.2	4.99	3.67
Goodwill	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Intangible assets	1.35	1.35	1.35	1.27	1.16	1.04	0.87	0.7	0.52	0.35
Long-term investments	0
Other non-current assets	0.3	0.29	0.47	0.34	0.33	0.2	0.17	0.14	0.11	0.09
Total assets	78.1	80.1	94.3	105	109	78.5	58.6	48.9	53.5	53.7
Accounts payable	4.81	6.57	5.22	3.51	4.04	6.38	6.46	5.74	6.16	7.9
Accrued liabilities	5.87	11.2	9.38	9.3	8.48	7.83	8.13	7.62	5.97	6.47
Deferred revenue		0.19	0.32	0.23	0.24	0.35	0.34	0.33	0.31	0.19
Short-term debt					0			0	2.4	2.4
Total current liabilities	10.8	18	14.9	14.6	14.6	16.4	16.7	15.6	16.8	18.9
Long-term debt	131	145	145	146	147	108	79	59.6	48.1	45.7
Lease liabilities				8.53	7.55	6.49	5.41	4.94	3.53	2
Other non-current liabilities	1.56	1.36	1.39	0.7	0.77	0.67	0.74	0.81	0.93	0.72
Total liabilities	145	165	164	172	171	134	103	81.8	70	67.9
Total debt	131	145	145	146	147	110	80	59.6	50.5	48.1
Paid-in capital	60.6	60.8	60.9	62.1	62.2	62.3	62.6	62.9	63.5	64.2
Retained earnings	-49.9	-68.2	-52.9	-45.4	-40	-32.6	-20.6	-9.29	6.56	8.18
Treasury stock	-77.3	-77.3	-78.3	-83.3	-84.8	-84.8	-86.7	-86.7	-86.7	-86.7
Shareholders' equity	-66.5	-84.6	-70.1	-66.4	-62.5	-55	-44.6	-32.9	-16.5	-14.2
Total equity	-66.5	-84.6	-70.1	-66.4	-62.5	-55	-44.6	-32.9	-16.5	-14.2
Total liabilities and equity	78.1	80.1	94.3	105	109	78.5	58.6	48.9	53.5	53.7
Shares outstanding	4.18	4.18	4.19	4.14	4.11	4.12	4.08	4.08	4.09	4.09

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	7.49	2.63	21.5	13.4	11.1	13.6	19.6	19.6	24	20
Depreciation and amortization	1.3	1.35	1.21	1.23	1.18	1.05	1.14	1.14	0.96	0.93
Stock-based compensation	0.58	0.4	0.16	0.12	0.12	0.07	0.26	0.73	0.99	1.13
Deferred income tax	0.1	-0.51	0.09	0.35	-0.15	-0.44	0.21	0.17	-0.24	-0.09
Change in inventory	0.11	0.2	-0.15	0.16	-0.25	0.1	-0.02	-0.3	-0.38	0.33
Change in payables	-0.67	7.09	-3.37	-2.03	-0.29	1.7	0.38	-1.23	-1.23	2.24
Cash from operations	10.4	18.9	11.2	12.3	11.8	16.5	19.8	20	25.2	18.2
Capital expenditures	-1.13	-0.56	-0.45	-0.87	-0.55	-0.64	-0.63	-0.31	-0.23	-0.37
Cash from investing	-1.13	-0.55	12.3	-0.87	-0.55	-0.64	-0.58	-0.31	-0.23	-0.37
Debt issued		150							60	0
Debt repaid		-135			0	-40	-30	-20	-9.2	-2.4
Stock issued	0.04	0	0.13	1.08	0
Share buybacks	-1.27		-1	-4.97	-1.5	0	-1.89	0
Dividends paid	-0.38	-21.1		-5.91		-6.17	-7.56
Cash from financing	-2.6	-17.9	-5.38	-9.81	-7.27	-46.8	-39.5	-28.5	-18.2	-21.3
Net change in cash	6.69	0.42	18.1	1.67	3.95	-31	-20.2	-8.83	6.78	-3.4
Free cash flow	9.28	18.3	10.7	11.5	11.2	15.8	19.2	19.7	25	17.9
Interest paid	13.5	9.04	9.94	9.94	9.94	10.6	8.06	5.48	5.48	2.89
Income taxes paid	4.05	3.58	6.28	0	4.77	4.98	7.16	8.31	8.49	8.19

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 28, 2026; growth uses fiscal years. Valuation uses the share price of $101.55 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.0%	Gross profit / revenue.
Operating margin	17.7%	Operating income / revenue.
EBITDA margin	18.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	16.6%	Pre-tax income / revenue.
Net margin	11.8%	Net income / revenue.
FCF margin	11.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.5%	Cash from operations / revenue.
Effective tax rate	29.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	30.7%	Net income / average total assets.
Return on invested capital (ROIC)	135.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-5.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-0.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-17.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-4.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	3.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-17.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-4.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	3.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-16.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	0.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-17.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	0.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	12.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-27.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-2.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-28.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-2.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	9.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	125.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	34.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	26.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-13.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.45x	Current assets / current liabilities.
Quick ratio	1.03x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.03x	(Cash + short-term investments) / current liabilities.
Debt / assets	73.4%	Total debt / total assets.
Liabilities / assets	111.1%	Total liabilities / total assets.
Net debt	$22.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.74x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	11.0x	Operating income / interest expense.
Working capital	$34.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$7.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	2.61x	Revenue / average total assets.
Fixed asset turnover	105x	Revenue / average property, plant and equipment.
Inventory turnover	81.0x	Cost of revenue / average inventory.
Days inventory	5 days	365 x average inventory / cost of revenue.
Days payables	34 days	365 x average accounts payable / cost of revenue.
FCF conversion	95.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.82	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$40.96	Revenue / diluted weighted shares.
FCF per share	$4.62	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.70	Cash from operations / diluted weighted shares.
Book value per share	-$1.75	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$1.85	Tangible book value / shares outstanding.
Cash per share	$6.02	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$416.1M	Share price x shares outstanding.
Enterprise value	$439.0M	Market cap + total debt - cash - short-term investments.
P/E	20.9x	Market cap / net income. Only when net income is positive.
P/S	2.46x	Market cap / revenue.
P/FCF	21.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	21.4x	Market cap / cash from operations, when positive.
EV/Sales	2.60x	Enterprise value / revenue.
EV/EBIT	14.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	23.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.6%	Free cash flow / market cap.
Earnings yield	4.8%	Net income / market cap (the inverse of P/E).
PEG	60.4x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was NATHANS FAMOUS, INC.'s revenue in fiscal 2026?

NATHANS FAMOUS, INC. reported revenue of $162.1M for fiscal 2026, 9.4% higher than the year before.

Was NATHANS FAMOUS, INC. profitable in fiscal 2026?

Yes. Net income was $20.0M, a net margin of 12.4%.

How much free cash flow did NATHANS FAMOUS, INC. generate in fiscal 2026?

Cash from operations of $18.2M minus capital expenditures of $370.0K left free cash flow of $17.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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