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Nathan's Famous, Inc., along with its subsidiaries, operates in the foodservice industry both in the United States and internationally. It operates through three segments: Branded Product Program; Product licensing; and Restaurant operations. The company owns and franchises restaurants under the Nathan's Famous brand name and sells products bearing the Nathan's Famous trademarks through various distribution channels. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded beef hot dogs, crinkle-cut french fries, and sausages in refrigerated consumer packages, which are resold through retail channels such as supermarkets, grocery stores, mass merchandisers, and club stores. In addition, the company has license agreements to manufacture Nathan's Famous branded hot dog and sausage products in bulk for use in the foodservice industry, supply Nathan's Famous natural casing and skinless hot dogs in bulk for use in the Nathan's Famous restaurant system, manufacture proprietary spices, produce and distribute pickles, and produce and sell french fries and onion rings for retail sale. Further, the company produces and sells miniature bagel dogs, franks-in-a-blanket, mozzarella sticks, corn dog nuggets, other hors d'oeuvres, and bottled mustard through club stores, supermarkets, and other retail food stores. Additionally, it sells Nathan's products directly to foodservice operators or various foodservice distributors and provides Arthur Treacher's branded fish fillets. Nathan's Famous, Inc. was founded in 1916 and is headquartered in Jericho, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $148M | $38M | $24M | $25M | -145.5% | 6.9% | 22.5% |
| 2024 | $139M | $34M | $20M | $20M | -59.6% | 6.0% | -0.0% |
| 2023 | $131M | $36M | $20M | $19M | -44.0% | 13.8% | 44.3% |
| 2022 | $115M | $30M | $14M | $16M | -24.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 114.88 | 130.78 | 138.61 | 148.18 |
| Cost Of Revenue | 70.82 | 81.14 | 89.36 | 96.20 |
| Gross Profit | 44.06 | 49.64 | 49.25 | 51.98 |
| Operating Expense | 14.20 | 15.20 | 16.75 | 15.49 |
| Operating Income | 29.86 | 34.45 | 32.51 | 36.50 |
| EBITDA | 29.73 | 35.68 | 33.94 | 37.82 |
| EBIT | 28.67 | 34.55 | 32.81 | 36.87 |
| Pretax Income | 18.54 | 26.80 | 27.45 | 32.76 |
| Tax Provision | 4.94 | 7.18 | 7.83 | 8.73 |
| Net Income | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income Common Stockholders | 13.60 | 19.62 | 19.62 | 24.03 |
| Total Expenses | 85.02 | 96.34 | 106.10 | 111.69 |
| Interest Expense | 10.13 | 7.74 | 5.36 | 4.11 |
| Interest Income | 0.11 | 0.44 | 0.38 | 0.67 |
| Selling General And Administration | 13.14 | 14.06 | 15.61 | 14.53 |
| Normalized EBITDA | 31.08 | 36.04 | 34.11 | 38.21 |
| Normalized Income | 14.59 | 19.88 | 19.74 | 24.31 |
| Basic EPS | 3.30 | 4.80 | 4.81 | 5.88 |
| Diluted EPS | 3.30 | 4.80 | 4.80 | 5.87 |
| Tax Effect Of Unusual Items | -0.36 | -0.10 | -0.05 | -0.10 |
| Tax Rate For Calcs | 0.27 | 0.27 | 0.28 | 0.27 |
| Total Unusual Items | -1.35 | -0.36 | -0.17 | -0.39 |
| Total Unusual Items Excluding Goodwill | -1.35 | -0.36 | -0.17 | -0.39 |
| Net Income From Continuing Operation Net Minority Interest | 13.60 | 19.62 | 19.62 | 24.03 |
| Reconciled Depreciation | 1.05 | 1.14 | 1.14 | 0.96 |
| Reconciled Cost Of Revenue | 70.82 | 81.14 | 89.36 | 96.20 |
| Net Interest Income | -10.03 | -7.30 | -4.97 | -3.43 |
| Net Income From Continuing And Discontinued Operation | 13.60 | 19.62 | 19.62 | 24.03 |
| Total Operating Income As Reported | 29.86 | 34.45 | 32.51 | 36.50 |
| Diluted Average Shares | 4.12 | 4.09 | 4.09 | 4.09 |
| Basic Average Shares | 4.12 | 4.09 | 4.08 | 4.09 |
| Diluted NI Availto Com Stockholders | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income Including Noncontrolling Interests | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income Continuous Operations | 13.60 | 19.62 | 19.62 | 24.03 |
| Other Income Expense | -1.30 | -0.34 | -0.08 | -0.30 |
| Other Non Operating Income Expenses | 0.05 | 0.02 | 0.09 | 0.09 |
| Special Income Charges | -1.35 | -0.36 | -0.17 | -0.39 |
| Other Special Charges | 1.35 | 0.36 | 0.17 | 0.39 |
| Net Non Operating Interest Income Expense | -10.03 | -7.30 | -4.97 | -3.43 |
| Interest Expense Non Operating | 10.13 | 7.74 | 5.36 | 4.11 |
| Interest Income Non Operating | 0.11 | 0.44 | 0.38 | 0.67 |
| Depreciation Amortization Depletion Income Statement | 1.05 | 1.14 | 1.14 | 0.96 |
| Depreciation And Amortization In Income Statement | 1.05 | 1.14 | 1.14 | 0.96 |
| General And Administrative Expense | 13.14 | 14.06 | 15.61 | 14.53 |
| Other Gand A | 13.14 | 14.06 | 15.61 | 14.53 |
| Operating Revenue | 114.88 | 130.78 | 138.61 | 148.18 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Nathan's Famous, Inc.this co. | NATH | $411M | 19.30↓ discount | -26.92 | -145.5% | 13.43 |
| Caleres, Inc. | CAL | $444M | - | 0.74 | -1.1% | 12.49 |
| Envela Corporation | ELA | $444M | 30.52 | 6.62 | 21.8% | 22.30 |
| Camping World Holdings, Inc. | CWH | $440M | - | 1.92 | -24.2% | 16.12 |
| Portillo's Inc. | PTLO | $427M | 21.93 |
| 0.91 |
| 3.9% |
| 13.72 |
| Zumiez Inc. | ZUMZ | $413M | 30.72 | 1.13 | 4.1% | 10.22 |
| El Pollo Loco Holdings, Inc. | LOCO | $407M | 15.10 | 1.40 | 9.1% | 10.41 |
| Citi Trends, Inc. | CTRN | $399M | 75.86 | 3.34 | 4.5% | 47.55 |
| Holley Inc. | HLLY | $382M | 19.94 | 0.84 | 4.3% | 8.32 |
| Peer Median | - | 26.22 | 1.26 | 4.2% | 13.11 | |