NATH Consumer Cyclical

Nathan's Famous, Inc.

$102.05+0.11%

Price as of close on Oct 23, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Consumer Cyclical
Industry: Restaurants
Country: United States
Market cap: 418.2M USD
Enterprise value: 440.4M USD
Full-time employees: 129

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: higher risk than most peers on debt, liquidity or share-price swings
About average: valuation

Ranks #705 of 1,502 consumer cyclical companies (top 47%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
Nathan's Famous's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Operating margin at a 6-year low. 19% in FY Mar 2026, the weakest of the last 6 years.
Nathan's Famous's operating margin fell to 19% in FY Mar 2026, its lowest in the 6 years of filings we have.
Sales growing faster than profits. Since FY Mar 2023: revenue +24%, operating profit −13%.
Since FY Mar 2023, Nathan's Famous's revenue changed +24% while operating profit fell 13%: costs rose faster than sales.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $76M in FY Mar 2021 to $162M in FY Mar 2026.
Nathan's Famous's fiscal-year revenue rose in each of the five years to FY Mar 2026, from $76M to $162M.

StockQuotient Score

53/ 100

Oct 5 53 → Nov 4 53

Valuation

Is the price right?

41/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.8%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.11Sector median: 0.0439 · MAD: 0.0329

EBITDA yield7.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.38Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield4.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.29Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield-1.7%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

60/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 4.4%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-16.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.80Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth8.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.64Sector median: 0.0425 · MAD: 0.0636

Revenue growth12.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.33Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

98/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin17.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.46Sector median: 0.0638 · MAD: 0.0461

Return on assets30.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.06Sector median: 0.0331 · MAD: 0.0254

Return on invested capital150.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 6.21Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin33.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equityUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.25

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 1.30Sector median: 0.6345 · MAD: 0.2980

Current ratio2.45×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.73Sector median: 1.4800 · MAD: 0.5570

Debt / equityUnavailable

Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -9.02Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Nathan's Famous

Is Nathan's Famous getting weaker?: Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is unchanged at 53/100 since Oct 28, 2026.
How is Nathan's Famous valued vs its peers?: Priced about in line with its peers. Valuation scores 41/100 against 1,612 consumer cyclical peers.
Is Nathan's Famous growing?: Yes, faster than most of its peers. Growth scores 60/100 against 1,612 consumer cyclical peers. Revenue growth 12.4% vs a peer median of 3.7% (stronger than 79% of peers).Revenue growth 12.4% vs peers 3.7% (stronger than 79% of peers). Earnings per share growth -16.0% vs a peer median of 4.2% (weaker than 70% of peers).Earnings per share growth -16.0% vs peers 4.2% (weaker than 70% of peers).
How profitable is Nathan's Famous?: More profitable than most of its peers. Profitability scores 98/100 against 1,612 consumer cyclical peers. Return on assets 30.7% vs a peer median of 3.3% (stronger than 95% of peers).Return on assets 30.7% vs peers 3.3% (stronger than 95% of peers).
How risky is Nathan's Famous?: Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Beta 0.25 vs a peer median of 0.63 (stronger than 88% of peers).Beta 0.25 vs peers 0.63 (stronger than 88% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 28, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 29, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	162.1M USD	169.1M USD	+4.4%
Net income (12 months)	20.0M USD	19.9M USD	−0.5%
Operating margin	18.6%	17.7%	−0.8 pts
Free cash flow (12 months)	17.9M USD	19.1M USD	+6.8%
Debt	48.1M USD	47.6M USD	−1.2%
Cash	24.4M USD	24.7M USD	+1.2%
Shares outstanding	4.1M	4.1M	0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Restaurants · 19 companies

Valuations in Restaurants are within their usual range since 2016.

40% of months since 2016 were valued lower than now.
12% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +13% and earnings +17% (medians): earnings grew faster than prices.
Median price-to-sales is −28% vs the whole market, against a usual −11%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Gross margin	—	—	40.0%	39.5%	34.3%	▼ 5.2 pts
Operating margin	26.0%	26.3%	23.5%	24.6%	18.6%	▼ 6.1 pts
Net margin	11.8%	15.0%	14.2%	16.2%	12.4%	▼ 3.9 pts
Return on assets (ROA)	17.3%	33.5%	40.1%	44.9%	37.3%	▼ 7.6 pts
Free cash flow margin	13.8%	14.7%	14.2%	16.9%	11.0%	▼ 5.9 pts
Current ratio	3.98×	2.83×	2.49×	2.69×	2.49×	▼ 7.4%
Quick ratio	3.95×	2.80×	2.44×	2.62×	2.45×	▼ 6.6%
Interest coverage	—	—	6.07×	8.89×	10.54×	▲ 19%

NATH price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.

Nathan's Famous's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.

Operating margin at a 6-year low. 19% in FY Mar 2026, the weakest of the last 6 years.

Nathan's Famous's operating margin fell to 19% in FY Mar 2026, its lowest in the 6 years of filings we have.

Sales growing faster than profits. Since FY Mar 2023: revenue +24%, operating profit −13%.

Since FY Mar 2023, Nathan's Famous's revenue changed +24% while operating profit fell 13%: costs rose faster than sales.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $76M in FY Mar 2021 to $162M in FY Mar 2026.

Nathan's Famous's fiscal-year revenue rose in each of the five years to FY Mar 2026, from $76M to $162M.

Questions investors ask about Nathan's Famous

Is Nathan's Famous getting weaker?

Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is unchanged at 53/100 since Oct 28, 2026.

How is Nathan's Famous valued vs its peers?

Priced about in line with its peers. Valuation scores 41/100 against 1,612 consumer cyclical peers.

Is Nathan's Famous growing?

Yes, faster than most of its peers. Growth scores 60/100 against 1,612 consumer cyclical peers. Revenue growth 12.4% vs a peer median of 3.7% (stronger than 79% of peers).Revenue growth 12.4% vs peers 3.7% (stronger than 79% of peers). Earnings per share growth -16.0% vs a peer median of 4.2% (weaker than 70% of peers).Earnings per share growth -16.0% vs peers 4.2% (weaker than 70% of peers).

How profitable is Nathan's Famous?

More profitable than most of its peers. Profitability scores 98/100 against 1,612 consumer cyclical peers. Return on assets 30.7% vs a peer median of 3.3% (stronger than 95% of peers).Return on assets 30.7% vs peers 3.3% (stronger than 95% of peers).

How risky is Nathan's Famous?

Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Beta 0.25 vs a peer median of 0.63 (stronger than 88% of peers).Beta 0.25 vs peers 0.63 (stronger than 88% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

162.1M USD

169.1M USD

+4.4%

Net income (12 months)

20.0M USD

19.9M USD

−0.5%

Operating margin

18.6%

17.7%

−0.8 pts

Free cash flow (12 months)

17.9M USD

19.1M USD

+6.8%

Debt

48.1M USD

47.6M USD

−1.2%

Cash

24.4M USD

24.7M USD

+1.2%

Shares outstanding

4.1M

4.1M

0.0%

Key ratios

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Gross margin

—

40.0%

39.5%

34.3%

▼ 5.2 pts

Operating margin

26.0%

26.3%

23.5%

24.6%

18.6%

▼ 6.1 pts

Net margin

11.8%

15.0%

14.2%

16.2%

12.4%

▼ 3.9 pts

Return on assets (ROA)

17.3%

33.5%

40.1%

44.9%

37.3%

▼ 7.6 pts

Free cash flow margin

13.8%

14.7%

14.2%

16.9%

11.0%

▼ 5.9 pts

Current ratio

3.98×

2.83×

2.49×

2.69×

2.49×

▼ 7.4%

Quick ratio

3.95×

2.80×

2.44×

2.62×

2.45×

▼ 6.6%

Interest coverage

—

6.07×

8.89×

10.54×

▲ 19%