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MARKETS / NASDAQ / BTBD
NASDAQ · RETAIL-EATING PLACES · SMALL CAP

BT Brands, Inc. BTBD

7 fiscal years on record · USD · FY2024 reported · SEC filings only
$14.8M
▲ 5.3% YoY
$-2.3M
$-1.2M
In brief

What this company does

As of December 28, 2025, we owned and operated nine restaurants across multiple states in the Midwest, Massachusetts, and Florida, and held a minority ownership interest in an unconsolidated affiliate that operated an additional five restaurants, for a total of 14 operating restaurant locations. In addition, we own a 40.7% interest in Bagger Dave’s Burger Tavern, Inc. (“BDVB”), an unconsolidated affiliate operating five casual-dining restaurants in Michigan, Ohio, and Indiana. We operate our businesses under a centralized management structure. As of February 1, 2026, our corporate office has four employees. As of March 1, 2026, including the Company’s wholly owned subsidiaries, we had approximately 179 employees, consisting of 28 full-time and 151 part-time staff.

Written from the business description in BT Brands, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 30 March 2026. Every sentence was checked against that document before publication.

Growth
USD 14.8M
Revenue, FY2024 · full 7-year series below
Revenue $M Net income $M
FY2024 · Revenue 14.8 · Net income -2.3
5.0M10.0M-0.8M-1.6M2018201920202021202220232024
Compound annual growth
+20.6%
+18.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +18.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−16 cents
lost on every revenue dollar
Operating margin Net margin
FY2024 · Operating -12.4% · Net -15.6%
5%10%-5%-10%-15%2018201920202021202220232024
ROE
FY2024 · ROE -28.6%
5%10%-10%-20%2018201920202021202220232024

Each USD of equity lost 29 cents this year.

Cash & shareholders
returned in FY2024 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -1.2
0.5M1.0M-0.5M-1.0M2018201920202021202220232024

Total assetsUSD 12.0M
EquityUSD 7.0M
CashUSD 2.0M
Gross debtUSD 2.3M
Net debtUSD 324,929.00
Current ratio3.46×

Net debt stands at 5% of equity.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2024202320222021202020192018
Revenue $B0.00.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.00.00.0−0.00.0
EBITDA $B−0.0−0.00.00.00.0−0.00.0
Income tax $B0.0−0.00.00.00.0−0.0−0.0
Net income $B−0.0−0.0−0.00.00.0−0.00.0
Free cash flow $B−0.0−0.0−0.00.00.00.00.0
EPS, diluted $···0.140.20−0.120.00
Dividend / sh $·······
Payout %·······
ROE %−28.6−9.2−5.412.2···
Shares out B0.010.010.010.010.000.000.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 22 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 54 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRetail-Eating Places
Listed onNASDAQ
Incorporated inWyoming
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2018

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