RAVE RESTAURANT GROUP, INC. RAVE
Rave Restaurant Group, Inc., through its subsidiaries (collectively, the "Company" or "we," "us" or "our"), franchises pizza buffet ("Buffet Units"), delivery/carry-out ("Delco Units"), express restaurants ("Express Units") and ghost kitchens ("Pizza Inn Ghost Kitchen Units") under the trademark "Pizza Inn" and franchises fast casual pizza restaurants ("Pie Five Units") and ghost kitchens ("Pie Five Ghost Kitchen Units") under the trademarks "Pie Five Pizza Company" or "Pie Five". The Company also licenses Pizza Inn Express, or PIE, kiosks ("PIE Units") under the trademark "Pizza Inn". We facilitate food, equipment, and supply distribution to our domestic and international system of restaurants through agreements with third-party distributors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.0M | $12.2M | $11.9M | $10.7M | $8.6M | $10.0M | $12.3M | $15.1M | $26.1M | $60.0M |
| Cost of revenue | — | — | $0 | $1.0K | $264.0K | $439.0K | $1.1M | $3.7M | — | — |
| Gross profit | — | — | $11.9M | $10.7M | $8.3M | $9.6M | $11.2M | $11.5M | — | — |
| SG&A | $5.2M | $5.3M | $5.5M | $5.4M | $4.7M | $5.5M | $5.3M | $7.6M | $10.8M | $7.1M |
| Total operating expenses | $8.4M | $9.1M | $9.7M | $9.0M | $7.8M | $10.2M | $13.1M | $16.2M | $37.3M | $65.8M |
| Interest expense | $354.0K | $153.0K | $1.0K | $61.0K | $92.0K | $95.0K | $104.0K | $183.0K | $106.0K | $4.0K |
| Pre-tax income | $3.6M | $3.1M | $2.1M | $2.4M | $1.5M | -$155.0K | -$801.0K | -$1.0M | -$11.2M | -$5.8M |
| Income tax | $918.0K | $619.0K | $537.0K | $5.7M | $29.0K | $4.1M | $51.0K | $3.3M | $53.0K | $2.7M |
| Net income | $2.7M | $2.5M | $1.6M | $8.0M | $1.5M | -$4.2M | -$750.0K | $1.9M | -$12.5M | -$8.9M |
| EPS, basic | 0.19 | 0.17 | 0.11 | 0.45 | 0.09 | -0.28 | -0.05 | 0.14 | -1.18 | -0.86 |
| EPS, diluted | 0.19 | 0.17 | 0.10 | 0.45 | 0.09 | -0.28 | -0.05 | 0.13 | -1.18 | -0.86 |
| Shares, diluted (wtd. avg.) | $14.6M | $14.6M | $15.9M | $18.0M | $18.1M | $15.1M | $15.1M | $15.0M | $10.6K | $10.3K |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.9M | $2.9M | $5.3M | $7.7M | $8.3M | $3.2M | $2.5M | $1.6M | $451.0K | $873.0K |
| Short-term investments | $7.0M | $4.9M | $0 | — | — | — | — | — | — | — |
| Receivables | $1.2M | $1.4M | $1.1M | $2.0M | $911.0K | $965.0K | $1.2M | $1.5M | $2.8M | $2.8M |
| Inventory | — | — | — | — | — | $0 | $7.0K | $6.0K | $79.0K | $197.0K |
| Total current assets | $11.5M | $9.5M | $6.8M | $10.1M | $10.4M | $4.9M | $4.7M | $4.7M | $5.1M | $4.6M |
| Property, plant and equipment | $137.0K | $182.0K | $258.0K | $365.0K | $445.0K | $366.0K | $500.0K | $1.5M | $3.8M | $13.0M |
| Other intangibles | $182.0K | $252.0K | $328.0K | $232.0K | $183.0K | $155.0K | $196.0K | $212.0K | $239.0K | — |
| Total assets | $16.6M | $15.8M | $14.2M | $18.5M | $13.3M | $9.7M | $10.4M | $11.0M | $9.5M | $18.5M |
| Short-term debt | — | — | $0 | $30.0K | $250.0K | $0 | — | $0 | $1.0M | $0 |
| Total current liabilities | $1.7M | $2.0M | $2.2M | $2.9M | $4.5M | $2.5M | $2.4M | $2.0M | $6.7M | $5.5M |
| Total liabilities | $2.4M | $3.1M | $3.8M | $5.1M | $7.6M | $9.2M | $6.0M | $4.7M | $11.6M | $9.1M |
| Retained earnings | $7.6M | $4.9M | $2.4M | $826.0K | -$7.2M | -$8.7M | -$4.5M | -$2.5M | -$4.4M | $8.1M |
| Total equity | $14.2M | $12.7M | $10.4M | $13.4M | $5.7M | $503.0K | $4.4M | $6.3M | -$2.1M | $9.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.4M | $2.8M | $2.8M | $1.4M | $1.5M | -$360.0K | $659.0K | -$3.9M | -$5.5M | $1.9M |
| Depreciation and amortisation | $101.0K | $135.0K | $141.0K | $140.0K | $131.0K | $145.0K | $423.0K | $835.0K | $2.4M | $2.7M |
| Stock-based compensation | $136.0K | $149.0K | $345.0K | $169.0K | $80.0K | -$104.0K | $36.0K | $115.0K | $58.0K | $213.0K |
| Capital expenditure | $56.0K | $76.0K | $65.0K | $66.0K | $212.0K | $56.0K | $81.0K | $1.1M | — | — |
| Investing cash flow | -$2.0M | -$5.0M | -$227.0K | $338.0K | -$238.0K | $67.0K | $131.0K | $708.0K | $426.0K | -$7.7M |
| Financing cash flow | -$1.4M | -$311.0K | -$5.0M | -$2.3M | $3.9M | $999.0K | $88.0K | $4.1M | $4.7M | $866.0K |
| Buybacks | $1.2M | $0 | $5.0M | $512.0K | $0 | — | — | — | — | — |
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 0001140361-25-040813.
Others in SIC 5140
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| USFD | US Foods Holding Corp. | $22.51B | 35.4x | 4.1% |
| DPZ | DOMINOS PIZZA INC | $11.28B | 19.4x | 5.0% |
| HFFG | HF Foods Group Inc. | $95.4M | — | 2.2% |