Sadot Group Inc. SDOT
to in this Form 10-K annual report ("Form 10-K") as the Company. The terms "we", "us" and "our"
are also used in the Form 10-K to refer to the Company. Throughout the Form 10-K, the terms "restaurants", "stores",
"eatery" and "locations" are used interchangeably. While Sadot Group as the parent Company, does not directly
own or operate any restaurants throughout this document we may refer to restaurants that were owned or operated by our subsidiaries as
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 | $246.9M | $700.9M | $717.5M | $161.7M | $10.3M | $4.5M | $5.0M | $6.0M | $7.9M | $5.0M |
| Cost of revenue | $242.4M | $678.2M | $707.9M | $157.3M | — | — | — | — | — | — |
| Gross profit | $4.6M | $22.7M | $9.6M | $4.4M | — | — | — | — | — | — |
| SG&A | $42.9M | $9.7M | $9.0M | $6.0M | $8.1M | $8.6M | $4.2M | $4.4M | $8.0M | $4.8M |
| Operating income | -$40.5M | $6.2M | -$7.0M | -$8.1M | -$9.4M | -$10.0M | -$3.7M | -$3.6M | -$11.9M | -$4.0M |
| Interest expense | — | — | $469.0K | $7.0K | $69.5K | — | — | — | — | — |
| Pre-tax income | -$93.5M | $5.6M | -$5.3M | -$7.9M | -$8.2M | -$10.1M | -$28.4M | -$7.2M | -$15.8M | -$4.1M |
| Income tax | $228.0K | $3.0K | $15.0K | $25.0K | $6.0K | — | — | — | $246.5K | $127.3K |
| Net income | -$93.4M | $4.0M | -$7.8M | -$8.0M | -$8.2M | -$10.1M | -$28.4M | -$7.2M | -$13.2M | -$3.1M |
| EPS, basic | — | 0.87 | -2.24 | -0.28 | -0.50 | — | — | — | — | — |
| EPS, diluted | — | 0.86 | -2.24 | -0.28 | -0.50 | -1.33 | -17.58 | -5.66 | -2.19 | -0.51 |
| Shares, diluted (wtd. avg.) | $820.3K | $466.6K | $3.5M | $28.6M | $16.5M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $653.0K | $1.8M | $1.4M | $9.9M | $15.8M | — | — | — | — | — |
| Receivables | $383.0K | $18.0M | $52.9M | $135.0K | $155.2K | $140.3K | $136.5K | $180.8K | $152.3K | $203.1K |
| Inventory | — | $717.0K | $2.6M | $298.0K | $258.8K | $113.8K | $78.4K | $45.1K | $92.8K | $64.1K |
| Total current assets | $2.8M | $152.7M | $112.9M | $10.6M | $18.0M | $4.5M | $780.5K | $637.9K | $376.8K | $703.7K |
| Property, plant and equipment | $20.0K | $11.8M | $12.9M | $1.9M | $2.3M | $2.3M | $1.6M | $637.3K | $517.0K | $1.1M |
| Goodwill | — | $0 | $1.8M | $2.6M | $2.6M | $656.3K | $656.3K | — | — | $2.5M |
| Other intangibles | — | $0 | $2.8M | $4.6M | $6.4M | $2.9M | $3.0M | $3.1M | $3.2M | $3.7M |
| Total assets | $2.9M | $164.7M | $178.1M | $27.2M | $29.4M | $10.5M | $6.3M | $4.5M | $4.2M | $8.3M |
| Accounts payable | $3.9M | $2.2M | $3.5M | $1.1M | $911.4K | $693.0K | $857.8K | $841.3K | $1.4M | $360.2K |
| Total current liabilities | $57.6M | $132.2M | $104.6M | $6.6M | $2.9M | $3.1M | $4.5M | $4.6M | $4.7M | $2.4M |
| Long-term debt | $10.2M | $7.4M | $7.3M | — | — | — | — | — | — | — |
| Total liabilities | $57.6M | $132.3M | $153.8M | $10.7M | $5.0M | $4.7M | $6.0M | $7.3M | $7.4M | $3.9M |
| Retained earnings | -$176.6M | -$83.2M | -$87.2M | -$79.4M | -$71.4M | -$63.2M | -$53.1M | -$23.8M | -$17.1M | -$3.8M |
| Total equity | -$57.4M | $29.2M | $36.1M | $16.6M | $24.4M | $5.8M | $245.8K | -$2.8M | -$3.2M | $4.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.7M | -$2.8M | -$13.7M | -$198.0K | -$6.4M | -$7.8M | -$4.5M | -$2.7M | -$3.7M | -$2.1M |
| Depreciation and amortisation | $95.0K | $259.0K | $1.1M | $2.0M | $1.2M | $362.0K | $134.7K | $134.7K | $335.8K | $93.6K |
| Stock-based compensation | $2.1M | $6.7M | $6.2M | $3.8M | $2.2M | $2.8M | $666.5K | $384.0K | $742.8K | $3.7K |
| Capital expenditure | — | $37.0K | $7.3M | $597.0K | $262.0K | $781.0K | $1.2M | $252.6K | $968.8K | $957.4K |
| Investing cash flow | — | -$4.0K | -$3.6M | -$5.4M | -$3.6M | -$850.3K | -$1.5M | -$188.2K | -$843.2K | -$1.1M |
| Financing cash flow | $3.8M | $2.8M | $8.6M | -$230.0K | $21.5M | $12.4M | $6.1M | $3.2M | $4.3M | $2.9M |
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 0001731122-26-000630.
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