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MARKETS / BALCAO / Consumer discretionary / Restaurants / NROM
BALCAO · RETAIL-EATING PLACES · SMALL CAP

Noble Romans Inc. NROM

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$16.5M
▲ 8.7% YoY
$1.2M
$1.1M
▲ 51.8% YoY

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

In brief

What this company does

The Company’s first Craft Pizza & Pub location opened in 2017 as a Company-operated restaurant in a northern suburb of Indianapolis, Indiana. In 1997, the Company started franchising non-traditional locations (a Noble Roman’s pizza operation within some other host business or activity with existing traffic) such as hospitals, convenience stores and other types of facilities. As of May 8, 2026, the Company employed approximately 38 persons full-time and 114 persons on a part-time, hourly basis, of which 15 of the full-time employees are employed in sales and service of the franchise units and 23 in restaurant locations. The Company owns and protects several trademarks and service marks.

Written from the business description in Noble Roman's, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 8 June 2026. Every sentence was checked against that document before publication.

Growth

USD 16.5M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 16.5 · Net income 1.2
10M20M-2M-4M
2009201220152018202120242025
Compound annual growth
+4.4%
+7.4%
+7.9%
+5.6%
+4.1%
+9.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +7.4% a year over the five years to FY2025.

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

7 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 14.6% · Net 7.1%
20%40%-20%-40%
200920172025
ROE
FY2025 · ROE 41.5%
50%100%-50%-100%
200920172025
Three returns, three denominators.
Gross margin·
Operating margin14.6%
Net margin7.1%
EBITDA·

Each USD of equity produced 42 cents of profit this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 1.1
1M2M-1M-2M
200920172025
Dividends paid·
Net buybacks·
Share of profit·
Consecutive raises·

Total assetsUSD 15.9M
EquityUSD 3.4M
CashUSD 533,670.00
Gross debtUSD 3.5M
Net debtUSD 3.0M
Current ratio0.40×

Net debt stands at 87% of equity.

The 17-year record

17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
NROM, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Operating income $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
EBITDA $B◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Income tax $B0.0−0.00.0−0.0−0.00.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B0.0−0.00.0−0.00.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.00.00.0
Free cash flow $B0.00.00.0−0.00.0−0.00.00.0−0.0−0.00.00.00.00.00.00.00.0
EPS, diluted $0.040.000.07−0.060.02−0.24−0.02−0.14−0.16−0.040.040.070.010.030.040.020.08
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend—————————————————
ROE %41.5−0.1100.7−72.919.4−105.6−4.7−32.6−27.4−6.05.512.50.85.27.22.915.8
Shares out B0.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.02◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 65 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Six checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRetail-Eating Places
Listed onOTC market
Incorporated inIndiana
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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