GEN Restaurant Group, Inc. GENK
GEN Inc. is one of the largest Asian casual dining restaurant concepts by total revenue in the United States. During 2025, we expanded our footprint with partnerships with grocery stores to offer our ready-to-cook meals at over 800 locations, with expected expansion to 1,500 to 2,500 grocery stores in 2026. We offer an extensive menu of traditional Korean and Korean-American food, including high-quality meats, poultry, and seafood, all at a superior value. Founded in 2011 by two Korean immigrants, since the opening of our first restaurant in September 2011 we have grown to 57 company-owned restaurants, as of December 31, 2025, located in California, Arizona, Hawaii, Nevada, Texas, New York, Oregon, North Carolina, Washington, New Jersey, Florida and South Korea. Our restaurants have modern decor, lively Korean pop music playing in the background and embedded grills in the center of each table. We believe we offer our customers a unique dining experience in which guests cook the majority of the food themselves, reducing the need for chefs and servers and providing a similar customer experience across the restaurants. On February 18, 2024, the Company purchased the other 50% of GKBH and other rights and the Company now controls 100% of this equity investment, GKBH restaurant.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $212.5M | $208.4M | $181.0M | $163.7M | — |
| SG&A | $25.9M | $21.3M | $12.9M | $8.0M | — |
| Total operating expenses | $232.5M | $207.9M | $172.9M | $151.4M | — |
| Operating income | -$20.0M | $476.0K | $8.1M | $12.4M | — |
| Interest expense | $232.0K | $829.0K | $347.0K | $817.0K | — |
| Pre-tax income | -$20.3M | $4.9M | $11.5M | $11.7M | — |
| Income tax | $930.0K | $357.0K | $21.0K | — | — |
| Net income | -$3.0M | $592.0K | $8.4M | $10.3M | — |
| EPS, basic | -0.59 | 0.13 | 0.08 | — | — |
| EPS, diluted | -0.59 | 0.13 | 0.08 | — | — |
| Shares, diluted (wtd. avg.) | $5.2M | $4.7M | $4.2M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $2.8M | $23.7M | $32.6M | $11.2M | — |
| Receivables | $10.4M | $3.5M | $0 | — | — |
| Inventory | $1.2M | $727.0K | $461.0K | $2.5M | — |
| Total current assets | $22.7M | $33.9M | $36.8M | $14.7M | — |
| Property, plant and equipment | $65.7M | $52.6M | $33.9M | $21.3M | — |
| Goodwill | $9.5M | $9.5M | $0 | — | — |
| Total assets | $259.9M | $240.4M | $183.9M | $138.9M | — |
| Accounts payable | $14.8M | $12.4M | $10.7M | $7.5M | — |
| Short-term debt | $2.8M | $1.7M | $165.0K | — | — |
| Total current liabilities | $54.1M | $41.1M | $31.3M | $37.3M | — |
| Long-term debt | $10.8M | $5.1M | $4.5M | — | — |
| Total liabilities | $231.8M | $194.8M | $146.4M | $144.1M | — |
| Retained earnings | -$2.1M | $915.0K | $322.0K | -$10.0M | — |
| Total equity | $26.5M | $44.1M | $36.0M | -$6.8M | $10.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $3.4M | $17.8M | $22.2M | $23.4M | — |
| Stock-based compensation | $2.9M | $3.0M | $1.5M | — | — |
| Capital expenditure | $27.7M | $23.8M | $17.2M | $8.1M | — |
| Investing cash flow | -$27.7M | -$26.8M | -$6.3M | $2.6M | — |
| Financing cash flow | $3.5M | $18.0K | $5.6M | -$24.7M | — |
| Dividends paid | $157.0K | — | — | — | — |
| Buybacks | $201.0K | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-134555.
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