BT Brands, Inc. (BTBD) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-84.5%

$0.28

vs $1.81 price

Levered DCF

-$0.74

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.51

Grey zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-12.91×	-3.89×	-17.86×	-20.99×	22.14×	22.75×	-49.95×	892.16×
P/B	1.36×	1.28×	1.7×	1.16×	1.28×	-26.22×	-13.18×	-17.69×
P/S	0.65×	0.6×	1.11×	0.94×	1.61×	2.26×	2.84×	2.61×
EV / EBITDA	227.22×	-8.73×	-43.84×	-85.68×	3.46×	15.73×	-146.27×	49.03×
Gross margin	28.8%	20.8%	21.5%	28.7%	32.9%	33.5%	27.3%	28.1%
Operating margin	-2.9%	-11.5%	-9.8%	-3.1%	11.6%	6.5%	-5.8%	3.4%
Net margin	-5.1%	-15.6%	-6.3%	-4.5%	7.2%	9.7%	-5.7%	0.3%
Current ratio	4.84×	3.46×	4.66×	4.15×	13.58×	1.36×	0.42×	1.08×
Debt / equity	0.27×	0.58×	0.48×	0.56×	0.28×	-4.53×	-2.51×	-3.62×
Interest coverage	-4.8×	-17.12×	-14.17×	-3.41×	5.67×	2.98×	-1.8×	1.36×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	142.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-10.7%	-33.2%	-9.7%	-5.5%	5.7%	-112.8%	26.4%	-2.0%
Return on invested capital	-3.9%	-15.5%	-8.8%	-1.9%	5.4%	17.5%	-14.6%	5.2%
Return on assets	-6.4%	-19.3%	-6.1%	-3.4%	4.2%	23.4%	-14.0%	0.6%
Free cash flow yield	1.3%	-13.6%	-4.8%	-2.3%	4.5%	6.8%	0.3%	-0.1%
Earnings yield	-7.9%	-25.9%	-5.7%	-4.8%	4.5%	4.3%	-2.0%	0.1%
Enterprise value	$9.7M	$11M	$14.7M	$15.3M	$4.2M	$20.3M	$21.6M	$21.5M
Net debt / EBITDA	21.51×	-1.66×	2.72×	-19.53×	-7.72×	1.45×	-21.9×	7.08×
Cash conversion cycle (days)	1	-9	-11	-10	-11	-13	-20	-16