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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 |
| Operating 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 |
| Selling General And Administration | 13.14 | 14.06 | 15.61 | 14.53 |
| Total Expenses | 85.02 | 96.34 | 106.10 | 111.68 |
| Operating Income | 29.86 | 34.44 | 32.51 | 36.50 |
| Total Operating Income As Reported | 29.86 | 34.44 | 32.51 | 36.50 |
| EBITDA | 29.72 | 35.68 | 33.94 | 37.82 |
| Normalized EBITDA | 31.08 | 36.04 | 34.11 | 38.21 |
| EBIT | 28.67 | 34.55 | 32.81 | 36.87 |
| Interest Income | 0.11 | 0.44 | 0.38 | 0.67 |
| Interest Expense | 10.14 | 7.74 | 5.36 | 4.11 |
| Net Interest Income | -10.02 | -7.30 | -4.97 | -3.43 |
| Other Non Operating Income Expenses | 0.05 | 0.02 | 0.09 | 0.09 |
| Other Income Expense | -1.30 | -0.34 | -0.08 | -0.30 |
| Interest Income Non Operating | 0.11 | 0.44 | 0.38 | 0.67 |
| Interest Expense Non Operating | 10.14 | 7.74 | 5.36 | 4.11 |
| Net Non Operating Interest Income Expense | -10.02 | -7.30 | -4.97 | -3.43 |
| Pretax Income | 18.54 | 26.80 | 27.45 | 32.76 |
| Tax Provision | 4.94 | 7.18 | 7.84 | 8.74 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -0.36 | -0.10 | -0.05 | -0.10 |
| Net Income Continuous Operations | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income From Continuing And Discontinued Operation | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income From Continuing Operation Net Minority Interest | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income Common Stockholders | 13.60 | 19.62 | 19.62 | 24.03 |
| Net Income Including Noncontrolling Interests | 13.60 | 19.62 | 19.62 | 24.03 |
| Normalized Income | 14.59 | 19.88 | 19.74 | 24.31 |
| Diluted NI Availto Com Stockholders | 13.60 | 19.62 | 19.62 | 24.03 |
| Basic Average Shares | 4.12 | 4.09 | 4.08 | 4.09 |
| Diluted Average Shares | 4.12 | 4.09 | 4.09 | 4.10 |
| Reconciled Depreciation | 1.05 | 1.14 | 1.14 | 0.96 |
| Reconciled Cost Of Revenue | 70.82 | 81.14 | 89.36 | 96.20 |
| Total Unusual Items | -1.35 | -0.36 | -0.17 | -0.39 |
| Total Unusual Items Excluding Goodwill | -1.35 | -0.36 | -0.17 | -0.39 |
| Special Income Charges | -1.35 | -0.36 | -0.17 | -0.39 |
| Other Special Charges | 1.35 | 0.36 | 0.17 | 0.39 |
| 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 |
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 | $415M | 17.27↓ discount | -25.12 | -145.5% | 11.71 |
| Microvast Holdings, Inc. | MVST | $456M | -15.62 | 1.11 | -7.1% | 210.81 |
| Build-A-Bear Workshop, Inc. | BBW | $449M | 8.61 | 2.90 | 33.7% | 6.76 |
| Camping World Holdings, Inc. | CWH | $445M | - | 1.95 | -39.3% | 10.41 |
| Genesco Inc. | GCO | $443M |
| 33.40 |
| 0.78 |
| 2.3% |
| 12.15 |
| El Pollo Loco Holdings, Inc. | LOCO | $422M | 15.91 | 1.45 | 9.1% | 11.31 |
| Zumiez Inc. | ZUMZ | $405M | 30.28 | 1.25 | 4.1% | 11.63 |
| Citi Trends, Inc. | CTRN | $387M | 74.21 | 3.32 | 4.5% | 22.35 |
| Dine Brands Global, Inc. | DIN | $369M | 21.57 | -1.35 | -6.2% | 12.60 |
| Peer Median | - | 21.57 | 1.35 | 3.2% | 11.89 | |