BT Brands (BTBD)
Market Price (11/8/2026): $1.56 | Market Cap: $9.6 MilSector: Consumer Discretionary | Industry: Restaurants
BT Brands (BTBD)
Market Price (11/8/2026): $1.56Market Cap: $9.6 MilSector: Consumer DiscretionaryIndustry: Restaurants
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -10% | Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -84% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.1% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 30x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.7%, Rev Chg QQuarterly Revenue Change % is -6.1% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% Key risksBTBD key risks include [1] substantial execution risk from its strategic overhaul and diversification into unrelated sectors like biotech and drones, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -10% |
| Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -84% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.1% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 30x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.7%, Rev Chg QQuarterly Revenue Change % is -6.1% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% |
| Key risksBTBD key risks include [1] substantial execution risk from its strategic overhaul and diversification into unrelated sectors like biotech and drones, Show more. |
Qualitative Assessment
AI Analysis | Feedback
BT Brands (BTBD) stock has gained about 30% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Operating Results and Net Income Growth.
BT Brands reported its fiscal Q2 2026 financial results on August 18, 2026, for the thirteen weeks ended June 28, 2026. The company demonstrated significantly improved operating performance, driven by reduced costs, a 37% decrease in general and administrative expenses (to $334,000 from $531,000 in the prior year period), and stricter operating discipline across all locations. This led to a net income of $576,433 for the quarter, a substantial improvement over a net loss in the comparable prior-year period, with Earnings Per Share (EPS) growing 933.33% to $0.09. Following this announcement, BTBD shares gained +3.3% the day after the earnings release and subsequently drifted +35.7% higher, indicating a strong positive market reaction to the improved financial health.
2. Renewed Strategic Focus on Restaurant Profitability.
Although occurring before the specified period, the termination of the merger agreement with Aero Velocity on May 7, 2026, allowed BT Brands to explicitly reaffirm its commitment to maximizing shareholder value through a concentrated focus on its core restaurant operating business. This strategic reset prioritized restaurant profitability, cash flow improvement, and balance sheet flexibility as a standalone entity, providing a clear operational direction that likely contributed to the positive fiscal Q2 2026 results and investor confidence in the subsequent period.
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BT Brands (BTBD) stock has gained about 30% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Operating Results and Net Income Growth.
BT Brands reported its fiscal Q2 2026 financial results on August 18, 2026, for the thirteen weeks ended June 28, 2026. The company demonstrated significantly improved operating performance, driven by reduced costs, a 37% decrease in general and administrative expenses (to $334,000 from $531,000 in the prior year period), and stricter operating discipline across all locations. This led to a net income of $576,433 for the quarter, a substantial improvement over a net loss in the comparable prior-year period, with Earnings Per Share (EPS) growing 933.33% to $0.09. Following this announcement, BTBD shares gained +3.3% the day after the earnings release and subsequently drifted +35.7% higher, indicating a strong positive market reaction to the improved financial health.
2. Renewed Strategic Focus on Restaurant Profitability.
Although occurring before the specified period, the termination of the merger agreement with Aero Velocity on May 7, 2026, allowed BT Brands to explicitly reaffirm its commitment to maximizing shareholder value through a concentrated focus on its core restaurant operating business. This strategic reset prioritized restaurant profitability, cash flow improvement, and balance sheet flexibility as a standalone entity, providing a clear operational direction that likely contributed to the positive fiscal Q2 2026 results and investor confidence in the subsequent period.
3. Bullish Technical Momentum.
During the latter part of the specified period, BT Brands exhibited strong bullish technical indicators. As of October 30, 2026, the stock price was trading above its 20-day, 50-day, and 200-day moving averages ($1.73, $1.70, and $1.45 respectively), signaling an upward trend. Furthermore, the Momentum Indicator moved above the 0 level on October 28, 2026, with an 87% historical probability of continued upward movement, and the Moving Average Convergence Divergence (MACD) turned positive on the same day, historically indicating an 81% chance of further price increases in the following month. These technical signals suggested sustained positive investor sentiment and momentum for the stock.
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Stock Movement Drivers
Fundamental Drivers
The 32.2% change in BTBD stock from 7/31/2026 to 11/7/2026 was primarily driven by a 35.0% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.18 | 1.56 | 32.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13 | 13 | -1.7% |
| P/S Multiple | 0.6 | 0.7 | 35.0% |
| Shares Outstanding (Mil) | 6 | 6 | -0.3% |
| Cumulative Contribution | 32.2% |
Market Drivers
7/31/2026 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BTBD | 32.2% | |
| Market (SPY) | -1.6% | 34.5% |
| Sector (XLY) | 1.3% | 25.8% |
Fundamental Drivers
The -16.1% change in BTBD stock from 4/30/2026 to 11/7/2026 was primarily driven by a -11.8% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.86 | 1.56 | -16.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13 | 13 | -4.6% |
| P/S Multiple | 0.8 | 0.7 | -11.8% |
| Shares Outstanding (Mil) | 6 | 6 | -0.3% |
| Cumulative Contribution | -16.1% |
Market Drivers
4/30/2026 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BTBD | -16.1% | |
| Market (SPY) | 2.6% | 25.6% |
| Sector (XLY) | -0.5% | 24.7% |
Fundamental Drivers
The -16.1% change in BTBD stock from 10/31/2025 to 11/7/2026 was primarily driven by a -11.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.86 | 1.56 | -16.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15 | 13 | -11.4% |
| P/S Multiple | 0.8 | 0.7 | -5.0% |
| Shares Outstanding (Mil) | 6 | 6 | -0.3% |
| Cumulative Contribution | -16.1% |
Market Drivers
10/31/2025 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BTBD | -16.1% | |
| Market (SPY) | 8.7% | 28.9% |
| Sector (XLY) | -1.4% | 25.7% |
Fundamental Drivers
The -18.7% change in BTBD stock from 10/31/2023 to 11/7/2026 was primarily driven by a -12.2% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.92 | 1.56 | -18.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 13 | -8.6% |
| P/S Multiple | 0.9 | 0.7 | -12.2% |
| Shares Outstanding (Mil) | 6 | 6 | 1.2% |
| Cumulative Contribution | -18.7% |
Market Drivers
10/31/2023 to 11/7/2026| Return | Correlation | |
|---|---|---|
| BTBD | -18.7% | |
| Market (SPY) | 81.9% | 13.7% |
| Sector (XLY) | 58.2% | 11.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BTBD Return | -35% | -38% | 37% | -42% | -3% | 12% | -66% |
| Peers Return | 4% | -11% | 26% | 1% | -24% | -5% | -15% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| BTBD Win Rate | 0% | 25% | 25% | 25% | 50% | 45% | |
| Peers Win Rate | 48% | 42% | 52% | 37% | 38% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| BTBD Max Drawdown | - | -55% | -51% | -52% | -59% | -54% | |
| Peers Max Drawdown | -27% | -33% | -26% | -27% | -37% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MCD, QSR, WEN, JACK, SHAK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | BTBD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -39.8% | -18.8% |
| % Gain to Breakeven | 66.0% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.8% | -7.8% |
| % Gain to Breakeven | 16.0% | 8.5% |
| Time to Breakeven | 2 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -41.4% | -9.5% |
| % Gain to Breakeven | 70.5% | 10.5% |
| Time to Breakeven | 14 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -50.0% | -24.5% |
| % Gain to Breakeven | 100.0% | 32.4% |
| Time to Breakeven | 18 days | 427 days |
In The Past
BT Brands's stock fell -39.8% during the 2025 US Tariff Shock. Such a loss loss requires a 66.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | BTBD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -39.8% | -18.8% |
| % Gain to Breakeven | 66.0% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -41.4% | -9.5% |
| % Gain to Breakeven | 70.5% | 10.5% |
| Time to Breakeven | 14 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -50.0% | -24.5% |
| % Gain to Breakeven | 100.0% | 32.4% |
| Time to Breakeven | 18 days | 427 days |
In The Past
BT Brands's stock fell -39.8% during the 2025 US Tariff Shock. Such a loss loss requires a 66.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About BT Brands (BTBD)
BT Brands, Inc. (BTBD) is a public company that operates a chain of fast-food restaurants primarily within the north central United States. The company's core business involves owning and managing quick-service dining establishments that cater to local communities, offering a range of classic American fast-food items.
BTBD's restaurant portfolio consists of nine "Burger Time" locations situated across Minnesota, North Dakota, and South Dakota. These Burger Time restaurants serve a menu featuring various burgers, chicken and pulled pork sandwiches, side dishes, and soft drinks. Additionally, the company operates one franchised Dairy Queen restaurant in Ham Lake, Minnesota, which expands its offerings to include burgers, chicken, and sides, alongside popular ice cream, desserts, and beverages.
AI Analysis | Feedback
Here are 1-3 brief analogies for BT Brands (BTBD):
- A micro-cap version of McDonald's, operating just a handful of fast-food restaurants in a few states.
- Like a publicly-traded, regional Wendy's that also happens to run a Dairy Queen franchise.
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- Burger Time Restaurant Offerings: This includes various fast-food items such as burgers, chicken and pulled pork sandwiches, side dishes, and soft drinks.
- Dairy Queen Restaurant Offerings: This includes a variety of fast-food items like burgers, chicken, sides, along with ice cream, desserts, and various beverages.
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BT Brands (symbol: BTBD) sells primarily to individuals. Its major customer categories include:
- General Public / Local Residents: Individuals and families residing in or visiting the communities where the Burger Time and Dairy Queen restaurants are located, seeking convenient and affordable meals or treats for daily consumption.
- Travelers and Commuters: People passing through the north central region of the United States who are looking for quick and accessible dining options while on the go.
- Families with Children: Families seeking casual dining experiences that cater to diverse tastes, particularly benefiting from the kid-friendly menus and dessert offerings at both Burger Time and Dairy Queen.
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Gary Copperud Chief Executive Officer and Director
Gary Copperud serves as the Chief Executive Officer and a Director of BT Brands, Inc.. He has been instrumental in guiding the company's vision and growth, leveraging his deep experience with the foundational Burger Time brand. His tenure as CEO began on July 31, 2018. Copperud is recognized for his commitment to operational excellence, product innovation, and fostering strong brand identities, possessing a track record in navigating complex market dynamics and driving sustainable profitability through a clear corporate strategy.
Kenneth W. Brimmer Chief Operating Officer, Chief Financial Officer, Principal Accounting Officer, and Chairman of the Board
Kenneth W. Brimmer holds multiple critical leadership roles at BT Brands, Inc., serving as Chief Operating Officer, Chief Financial Officer, Principal Accounting Officer, and Chairman of the Board. His multifaceted responsibilities are integral to the company's strategic and operational framework. As COO, he oversees daily business operations, ensuring efficiency and the successful execution of business plans. In his capacity as CFO and Principal Accounting Officer, Brimmer is responsible for the financial health, planning, budgeting, accounting, and reporting, ensuring compliance with financial regulations and managing capital to drive profitability.
AI Analysis | Feedback
Here are the key risks to BT Brands' business:
- Limited Geographic Concentration and Regional Economic Sensitivity: BT Brands operates its nine Burger Time restaurants and one Dairy Queen franchise exclusively in the north central region of the United States, specifically Minnesota, North Dakota, and South Dakota. This high geographic concentration exposes the company to specific regional economic downturns, adverse weather conditions (particularly severe winters common in these states that can impact customer traffic), and localized demographic shifts.
- Intense Competition in the Fast-Food Industry: The fast-food sector in the United States is highly saturated and fiercely competitive. BT Brands, with its regional Burger Time chain and a single Dairy Queen franchise, faces significant competition from numerous national and local fast-food chains. This intense rivalry puts constant pressure on pricing, marketing, menu innovation, and operational efficiency to attract and retain customers.
- Rising Operating Costs (Labor and Ingredients): The restaurant industry, including fast food, is highly susceptible to fluctuations in key operating costs. Labor expenses, encompassing wages, benefits, and payroll taxes, typically constitute a significant portion (25-35% for fast-food restaurants) of a restaurant's total revenue. Similarly, ingredient costs, especially for items like meat proteins which can represent a large share of expenses, are subject to volatility due to supply chain disruptions, inflation, and market demand, directly impacting profit margins.
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The emergence and proliferation of virtual restaurants and ghost kitchens present a clear emerging threat. These new business models operate without traditional storefronts, focusing solely on food delivery with significantly lower overhead costs. This allows for greater flexibility in menu offerings, rapid market entry, and aggressive pricing, directly competing for the same customer base as traditional brick-and-mortar fast-food establishments like BT Brands’ Burger Time and Dairy Queen locations, especially in the growing food delivery segment.
AI Analysis | Feedback
BT Brands, Inc. operates fast-food restaurants, including Burger Time and Dairy Queen franchises, across Minnesota, North Dakota, and South Dakota. The addressable markets for their main products and services can be identified at both regional (state) and national (U.S.) levels.
Addressable Markets:
- Fast Food Market (Minnesota): The fast food restaurants industry in Minnesota is projected to have a market size of approximately $5.6 billion in 2026.
- Fast Food Market (North Dakota): The fast food restaurants industry in North Dakota is projected to be approximately $780.6 million in 2026.
- Fast Food Market (South Dakota): The fast food restaurants industry in South Dakota is projected to be approximately $887.3 million in 2026.
- Burger Restaurants Market (U.S.): The market size for Burger Restaurants in the U.S. is projected to be $177.7 billion in 2026.
- Chicken Fast Food Segment (U.S.): The U.S. quick-service chicken restaurants segment generated approximately $60–65 billion in annual revenue in 2025.
- Ice Cream Market (U.S.): The U.S. ice cream market is estimated to reach approximately $20.03 billion in 2026.
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- Development and Commercialization of Advanced Drone Technologies and AI-Powered Solutions: The combined company will concentrate on developing advanced drone technologies and providing AI-powered solutions for both government and commercial applications. This focus on cutting-edge technology and artificial intelligence is expected to drive significant revenue growth in a rapidly expanding market.
- Expansion of Contract Drone Manufacturing Business: Aero Velocity, as a wholly-owned subsidiary of the merged entity, is developing a contract drone manufacturing business. This initiative aims to broaden the company's portfolio and tap into the growing demand for drone hardware and production.
- Strategic Alliances and Partnerships in Drone and Robotics Inspections: The company is actively forming strategic alliances, such as agreements with SoftWash Systems and HMT, to scale drone and robotics inspection services. These collaborations are anticipated to facilitate market penetration and expand service offerings in various sectors for 2026 growth.
- Capitalizing on the Rapidly Expanding Global Drone Market: The global drone industry is experiencing rapid growth, with market forecasts predicting the sector will reach $63 billion by 2030. The merger positions BT Brands (as the new Aero Velocity Inc.) to leverage this substantial market expansion in commercial and defense applications.
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Share Repurchases
- On June 6, 2024, BT Brands' board of directors authorized the repurchase of up to 625,000 shares, representing approximately 10% of its outstanding common shares.
- By the end of 2024, the company had repurchased 306,394 shares under this program.
Share Issuance
- In November 2021, BT Brands completed its initial public offering (IPO), pricing 2,400,000 units at $5.00 per unit, which generated gross proceeds of $12 million. [cite: 3 in previous step]
- BT Brands established an at-the-market (ATM) equity offering program on December 13, 2024. [cite: 14 in previous step]
- On November 25, 2025, the company amended its ATM equity offering program, increasing the maximum aggregate offering price from $3,005,000 to $3,565,880, allowing for the sale of additional common stock. [cite: 6 in previous step, 13 in previous step]
Inbound Investments
- As part of the definitive merger agreement with Aero Velocity Inc., announced on September 3, 2025, an equity investment ranging from $3 million to $5 million from Aero Velocity shareholders is included. [cite: 6 in previous step, 19 in previous step] This merger is expected to result in Aero Velocity shareholders owning approximately 89% of the combined company. [cite: 6 in previous step, 20 in previous step]
Outbound Investments
- BT Brands holds a significant ownership interest in Bagger Dave's Burger Tavern, Inc., which has been reported between 39.6% and 41.7%. [cite: 9 in previous step, 11 in previous step, 21 in previous step]
- The company also has an investment in Noble Roman's Inc., and as of June 2024, BT Brands' CEO indicated an intention to nominate a dissident slate of directors to Noble Roman's board and assist with refinancing its debt. [cite: 2 in previous step]
- In 2025, BT Brands' 40.8%-owned affiliate, Bagger Dave's Burger Tavern, Inc., sold its Chesterfield, Michigan location for approximately $400,000 in cash and notes, and was in negotiations to sell five other operating Bagger Dave's restaurants. [cite: 9 in previous step, 16 in previous step]
Capital Expenditures
- In the third quarter of 2025, BT Brands invested $63,000 in capital expenditures, focusing on long-term assets and infrastructure.
- The company's capital expenditures were approximately $494,000, which consumed a substantial portion of its operating cash flow, contributing to negative free cash flow.
- BT Brands primarily directs its capital expenditures towards maintaining its existing restaurant locations and acquiring businesses that align with its operational goals. [cite: 3 in previous step]
Peer Outperformance in Restaurants
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -14.6% | 32.4% | 41.0% | CVSA 246% · GHC 109% · LRN 107% |
| Homebuilding | 17 | 2.8% | 29.0% | 29.7% | PHM 175% · TOL 159% · GRBK 150% |
| Automotive Retail | 17 | -4.5% | 18.3% | 11.3% | MUSA 209% · PAG 115% · ORLY 111% |
| Hotels, Resorts & Cruise Lines | 21 | 19.1% | 65.4% | 7.0% | RCL 250% · MAR 159% · HLT 147% |
| Home Improvement Retail | 5 | -4.8% | 4.3% | 5.3% | HD 6% · LOW 5% · FND -62% |
| Home Furnishings | 3 | 3.8% | 76.0% | -1.2% | SGI 50% · MHK -15% |
| Footwear | 9 | 75.5% | 83.0% | -15.7% | DECK 23% · SHOO -11% · CROX -16% |
| Restaurants ← | 36 | 1.5% | -3.8% | -24.2% | EAT 363% · CAKE 158% · TXRH 110% |
| Computer & Electronics Retail | 3 | 32.8% | 80.3% | -24.5% | BBY -3% · GME -53% |
| Specialized Consumer Services | 10 | -12.1% | 33.3% | -25.5% | FTDR 168% · HRB 146% · ADT 24% |
| Distributors | 4 | -6.7% | -16.6% | -26.0% | ARMK 96% · GPC 4% · POOL -56% |
| Leisure Products | 14 | -18.0% | -5.2% | -34.4% | GOLF 51% · HAS 50% · BC -14% |
| Leisure Facilities | 12 | 16.8% | 5.3% | -39.5% | OSW 160% · LTH 143% · PLNT -37% |
| Household Appliances | 18 | 36.3% | 16.7% | -40.3% | WHR -82% |
| Broadline Retail | 12 | -4.4% | 16.3% | -45.7% | EBAY 76% · AMZN 47% · OLLI 24% |
| Apparel Retail | 27 | -5.5% | 2.6% | -48.8% | ANF 223% · VSXY 110% · TJX 104% |
| Automotive Parts & Equipment | 37 | -13.5% | -25.6% | -48.8% | GTX 197% · PATK 64% · ALV 41% |
| Casinos & Gaming | 21 | -25.1% | -16.3% | -51.8% | RRR 22% · BYD 19% · LVS 3% |
| Apparel, Accessories & Luxury Goods | 29 | 14.6% | 20.9% | -53.7% | TPR 255% · RL 225% · KTB 59% |
| Other Specialty Retail | 25 | -5.3% | -10.5% | -57.7% | ULTA 65% · ASO 53% · ARHS 26% |
| Automobile Manufacturers | 8 | -57.1% | -43.4% | -70.5% | GM 54% · TSLA -12% · F -12% |
| Consumer Electronics | 11 | -31.6% | -31.4% | -80.5% | GRMN 122% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is BT Brands Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 43.00 |
| Mkt Cap | 2.2 |
| Rev LTM | 1,905 |
| Op Inc LTM | 225 |
| FCF LTM | 222 |
| FCF 3Y Avg | 247 |
| CFO LTM | 308 |
| CFO 3Y Avg | 338 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.6% |
| Rev Chg 3Y Avg | 2.0% |
| Rev Chg Q | 0.3% |
| QoQ Delta Rev Chg LTM | 0.1% |
| Op Inc Chg LTM | 7.9% |
| Op Inc Chg 3Y Avg | 5.5% |
| Op Mgn LTM | 12.7% |
| Op Mgn 3Y Avg | 15.5% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 14.0% |
| CFO/Rev 3Y Avg | 15.3% |
| FCF/Rev LTM | 10.1% |
| FCF/Rev 3Y Avg | 11.2% |
Price Behavior
| Market Price | $1.56 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/12/2021 | |
| Distance from 52W High | -30.7% | |
| 50 Days | 200 Days | |
| DMA Price | $1.74 | $1.45 |
| DMA Trend | up | up |
| Distance from DMA | -10.2% | 7.2% |
| 3M | 1YR | |
| Volatility | 63.9% | 88.4% |
| Downside Capture | 25.10 | 227.28 |
| Upside Capture | 182.95 | 193.07 |
| Correlation (S&P 500) | 34.0% | 28.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.17 | 1.10 | 1.09 | 1.20 | 1.85 | 0.87 |
| Up Beta | -7.19 | -1.39 | 0.27 | 0.38 | 1.00 | 0.59 |
| Down Beta | 1.99 | 2.66 | 2.81 | 2.59 | 1.95 | 1.06 |
| Up Capture | 119% | 169% | 202% | 66% | 297% | 50% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 20 | 34 | 60 | 119 | 322 |
| Down Capture | 118% | 2% | -77% | 97% | 154% | 101% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 13 | 22 | 28 | 57 | 121 | 354 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTBD | |
|---|---|---|---|---|
| BTBD | -10.9% | 88.4% | 0.27 | - |
| Sector ETF (XLY) | -1.9% | 19.8% | -0.22 | 25.6% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 28.6% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 7.8% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -8.4% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 7.2% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 14.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTBD | |
|---|---|---|---|---|
| BTBD | -6.7% | 110.4% | 0.42 | - |
| Sector ETF (XLY) | 4.0% | 24.2% | 0.12 | 6.7% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 7.4% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 3.2% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | -1.2% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 2.8% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 3.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTBD | |
|---|---|---|---|---|
| BTBD | -3.4% | 110.4% | 0.42 | - |
| Sector ETF (XLY) | 12.8% | 22.3% | 0.52 | 6.7% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 7.4% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 3.2% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | -1.2% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 2.8% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 3.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/3/2026 | 7.4% | 0.0% | 10.8% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 7.4% | 0.0% | 10.8% |
| Median Negative | |||
| Max Positive | 7.4% | 0.0% | 10.8% |
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/3/2026 | 7.4% | 0.0% | 10.8% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 7.4% | 0.0% | 10.8% |
| Median Negative | |||
| Max Positive | 7.4% | 0.0% | 10.8% |
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/17/2026 | 10-Q |
| 03/31/2026 | 05/18/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/17/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/15/2023 | 10-Q |
| 06/30/2023 | 08/16/2023 | 10-Q |
| 03/31/2023 | 05/17/2023 | 10-Q |
| 12/31/2022 | 04/18/2023 | 10-K |
| 09/30/2022 | 11/15/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/17/2026 | 10-Q |
| 03/31/2026 | 05/18/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/17/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/15/2023 | 10-Q |
| 06/30/2023 | 08/16/2023 | 10-Q |
| 03/31/2023 | 05/17/2023 | 10-Q |
| 12/31/2022 | 04/18/2023 | 10-K |
| 09/30/2022 | 11/15/2022 | 10-Q |
| 06/30/2022 | 08/16/2022 | 10-Q |
| 03/31/2022 | 05/18/2022 | 10-Q |
| 12/31/2021 | 03/17/2022 | 10-K |
| 09/30/2021 | 11/17/2021 | 10-Q |
| 06/30/2021 | 08/18/2021 | 10-Q |
| 03/31/2021 | 05/18/2021 | 10-Q |
| 12/31/2020 | 03/11/2021 | 10-K |
| 09/30/2020 | 11/10/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 05/12/2020 | 10-Q |
| 12/31/2019 | 04/15/2020 | 10-K |
| 12/31/2018 | 11/25/2020 | 10-K/A |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Restaurants Resources |
| Nation's Restaurant News |
| Restaurant Business |
| QSR Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.