Good Times Restaurants Inc. (GTIM) 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

+1315.1%

$18.82

vs $1.33 price

Levered DCF

$5.71

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

1.58

Distress zone

Rating

Overall 4 / 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	16.89×	19.33×	3.18×	-10.38×	3.9×	-1.29×	-4.74×	-54.22×
P/B	0.52×	0.99×	1.08×	1.03×	2.19×	1.31×	0.74×	1.65×
P/S	0.12×	0.23×	0.26×	0.2×	0.53×	0.16×	0.18×	0.56×
EV / EBITDA	12.51×	13.89×	16.96×	21.78×	4.24×	-22.16×	27.57×	13.89×
Gross margin	9.6%	11.1%	11.2%	11.5%	14.8%	11.2%	9.7%	10.6%
Operating margin	0.2%	1.0%	0.7%	-0.6%	5.6%	-11.0%	-3.2%	0.4%
Net margin	0.7%	1.1%	8.0%	-1.9%	13.5%	-12.7%	-4.6%	-1.0%
Current ratio	0.37×	0.42×	0.44×	0.92×	0.89×	0.72×	0.53×	0.77×
Debt / equity	1.27×	1.37×	1.5×	1.92×	1.84×	5.52×	0.47×	0.22×
Interest coverage	1.68×	11.04×	12.35×	-16.26×	25.64×	-15.95×	-4.62×	0.95×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.1%	5.0%	34.0%	-10.0%	56.4%	-101.7%	-18.7%	-3.0%
Return on invested capital	0.4%	1.8%	1.2%	-1.1%	8.0%	-13.1%	-6.9%	0.7%
Return on assets	1.2%	1.9%	12.2%	-3.1%	17.9%	-14.0%	-8.6%	-1.7%
Free cash flow yield	-8.4%	6.2%	9.1%	9.8%	9.1%	32.3%	-6.5%	-7.0%
Earnings yield	5.9%	5.0%	31.4%	-9.7%	25.7%	-77.8%	-25.5%	-1.8%
Enterprise value	$56.5M	$72.6M	$79.9M	$69.2M	$111.1M	$82M	$30.3M	$60.1M
Net debt / EBITDA	8.68×	7.76×	9.48×	13.23×	1.75×	-17.32×	9.2×	0.93×
Cash conversion cycle (days)	-2	-4	-3	4	1	-3	-7	-5