ONE Group Hospitality, Inc. STKS
We are an international restaurant company that develops, owns and operates, manages, franchises and licenses upscale and polished casual, high-energy restaurants. The Company's primary restaurant brands are: STK, a modern twist on the American steakhouse concept featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere; Benihana, an interactive dining destination with highly skilled chefs preparing food in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails; Kona Grill, a polished casual bar-centric grill concept featuring American favorites, award-winning sushi, and specialty cocktails in a polished casual atmosphere; and RA Sushi, a Japanese cuisine concept that offers a fun-filled, bar-forward, upbeat, and vibrant dining atmosphere anchored by creative sushi, inventive drinks, and outstanding service.
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 | $805.7M | $673.3M | $332.8M | $316.6M | $277.2M | $141.9M | $120.7M | $85.6M | $79.7M | $72.4M |
| SG&A | $52.5M | $44.2M | $30.8M | $29.1M | $25.6M | $13.9M | $11.5M | $11.1M | $11.9M | $11.2M |
| Total operating expenses | — | — | — | — | — | — | — | $64.7M | $62.0M | $57.1M |
| Operating income | $8.0M | $8.9M | $9.3M | $16.3M | $19.4M | -$13.7M | $12.8M | $5.8M | -$2.7M | -$5.6M |
| Interest expense | $37.1M | $28.8M | $7.4M | $1.7M | $3.3M | $4.4M | $1.7M | $1.0M | $1.0M | $800.0K |
| Pre-tax income | -$32.9M | -$26.4M | $2.3M | $14.2M | $33.5M | -$19.0M | $10.0M | $4.6M | -$3.8M | -$6.0M |
| Income tax | $60.7M | $8.4M | $1.8M | $874.0K | $1.6M | $5.4M | $11.2M | $713.0K | $600.0K | $10.4M |
| Net income | -$92.2M | -$17.1M | $4.7M | $13.5M | $31.3M | -$12.8M | $20.8M | $3.3M | -$4.2M | -$16.7M |
| EPS, basic | -4.05 | -1.16 | 0.15 | 0.42 | 1.01 | -0.44 | 0.73 | 0.12 | -0.17 | — |
| EPS, diluted | -4.05 | -1.16 | 0.15 | 0.40 | 0.93 | -0.44 | 0.70 | 0.12 | -0.17 | -0.66 |
| Shares, diluted (wtd. avg.) | $31.0M | $31.2M | $32.3M | $33.9M | $33.8M | $28.9M | $29.6M | $28.1M | $25.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.2M | $27.6M | $21.0M | $55.1M | $23.6M | $24.4M | $12.3M | $1.6M | $1.5M | $918.0K |
| Receivables | $15.4M | $12.3M | $10.0M | $15.2M | $11.4M | $5.8M | $10.4M | $7.0M | $5.5M | $5.0M |
| Inventory | $9.8M | $11.3M | $6.2M | $5.7M | $3.9M | $2.5M | $3.1M | $1.4M | $1.4M | $1.3M |
| Total current assets | $56.9M | $69.3M | $46.7M | $78.5M | $42.9M | $34.4M | $27.1M | $11.5M | $9.8M | $9.3M |
| Property, plant and equipment | $278.2M | $276.1M | $139.9M | $94.1M | $69.6M | $67.3M | $70.5M | $39.3M | $37.8M | $36.8M |
| Goodwill | $155.8M | $155.8M | — | — | — | — | — | — | — | — |
| Other intangibles | $129.0M | $133.1M | $15.3M | $15.3M | $15.5M | $16.3M | $17.2M | — | — | — |
| Total assets | $884.2M | $960.1M | $317.2M | $291.0M | $229.8M | $215.6M | $206.6M | $56.0M | $53.0M | $52.1M |
| Accounts payable | $36.6M | $30.9M | $19.1M | $13.1M | $11.1M | $7.4M | $8.3M | $5.4M | $5.3M | $3.8M |
| Short-term debt | $9.3M | $6.1M | $1.5M | $1.5M | $500.0K | $588.0K | $749.0K | $3.2M | $3.2M | $3.2M |
| Total current liabilities | $133.2M | $131.4M | $58.2M | $45.7M | $42.3M | $40.7M | $28.1M | $17.8M | $16.9M | $13.2M |
| Long-term debt | $334.0M | $328.1M | $70.4M | $70.5M | $23.1M | $45.1M | $45.2M | $7.1M | $10.1M | $13.1M |
| Total liabilities | $772.7M | $758.7M | $249.9M | $222.4M | $169.3M | $193.6M | $172.7M | $43.9M | $46.5M | $44.8M |
| Retained earnings | -$93.2M | — | $28.9M | $24.2M | $10.6M | -$20.7M | -$7.9M | -$28.7M | -$32.0M | -$27.8M |
| Total equity | -$75.8M | $45.9M | $67.4M | $68.6M | $60.5M | $22.0M | $34.3M | $12.5M | $7.5M | $7.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $30.3M | $44.2M | $30.8M | $25.3M | $31.0M | $431.0K | $8.4M | $6.4M | $6.0M | $2.1M |
| Depreciation and amortisation | — | — | — | — | — | — | — | $2.8M | $3.1M | $2.6M |
| Stock-based compensation | $5.4M | $6.0M | $5.0M | $4.0M | $3.2M | $1.8M | $1.3M | $1.3M | $1.1M | $838.0K |
| Capital expenditure | $57.6M | $71.6M | $53.5M | $32.6M | $11.5M | $5.8M | $4.4M | $4.1M | $4.6M | $10.6M |
| Investing cash flow | -$57.6M | -$441.4M | -$53.5M | -$32.6M | -$11.5M | -$5.8M | -$30.4M | -$3.5M | -$4.3M | -$10.1M |
| Financing cash flow | $3.9M | $404.3M | -$11.2M | $39.1M | -$20.3M | $17.4M | $33.1M | -$2.2M | -$938.0K | $8.3M |
| Buybacks | $1.1M | $3.2M | $7.9M | $7.1M | $37.0K | — | — | — | — | — |
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 0001104659-26-041530.
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