One Hospitality (STKS)
Market Price (9/18/2026): $1.615 | Market Cap: $54.1 MilSector: Consumer Discretionary | Industry: Restaurants
One Hospitality (STKS)
Market Price (9/18/2026): $1.615Market Cap: $54.1 MilSector: Consumer DiscretionaryIndustry: Restaurants
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 6.4% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech. | Weak multi-year price returns2Y Excs Rtn is -87%, 3Y Excs Rtn is -148% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1203% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -3.3% 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 -155% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 56.68 Key risksSTKS key risks include [1] managing significant debt obligations, Show more. |
| Attractive yieldFCF Yield is 6.4% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech. |
| Weak multi-year price returns2Y Excs Rtn is -87%, 3Y Excs Rtn is -148% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1203% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -3.3% |
| 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 -155% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 56.68 |
| Key risksSTKS key risks include [1] managing significant debt obligations, Show more. |
Qualitative Assessment
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One Hospitality (STKS) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Revenue Miss and Lowered Full-Year Guidance for Fiscal Year 2026.
The ONE Group Hospitality, Inc. reported a 3.3% year-over-year decline in GAAP revenues for fiscal Q2 2026, totaling $200.5 million, which missed analyst estimates by $5.9 million. Following this, the company lowered its full-year fiscal 2026 revenue guidance to a range of $805 million to $820 million, down approximately 5% from previous expectations of around $840 million, indicating a moderated sales outlook.
2. Significant Debt Burden and High Interest Rates.
The company maintains a substantial long-term financing structure, including a $350.0 million term loan and a $40.0 million revolver, with a weighted average interest rate of 10.2%. Additionally, Series A preferred stock is accreting towards a $247.4 million redemption value in fiscal 2027, placing considerable financial pressure on the company despite strategic efforts toward asset-light expansion and deleveraging.
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One Hospitality (STKS) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Revenue Miss and Lowered Full-Year Guidance for Fiscal Year 2026.
The ONE Group Hospitality, Inc. reported a 3.3% year-over-year decline in GAAP revenues for fiscal Q2 2026, totaling $200.5 million, which missed analyst estimates by $5.9 million. Following this, the company lowered its full-year fiscal 2026 revenue guidance to a range of $805 million to $820 million, down approximately 5% from previous expectations of around $840 million, indicating a moderated sales outlook.
2. Significant Debt Burden and High Interest Rates.
The company maintains a substantial long-term financing structure, including a $350.0 million term loan and a $40.0 million revolver, with a weighted average interest rate of 10.2%. Additionally, Series A preferred stock is accreting towards a $247.4 million redemption value in fiscal 2027, placing considerable financial pressure on the company despite strategic efforts toward asset-light expansion and deleveraging.
3. Operational Disruption from STK Downtown NYC Relocation.
The relocation of the STK Downtown New York restaurant resulted in its closure for most of fiscal Q2 2026. Delays in reopening, extending into July 2026 due to inspections, led to weekly operational costs of $150,000 to $200,000, negatively impacting the company's financial performance during the period.
4. Deteriorating Analyst Sentiment and Price Target Revisions.
Analyst consensus earnings per share (EPS) estimates for fiscal year 2026 fell by 22%, and the average price target was reduced by 14%, from $5.06 to $4.36. This reflects a more cautious outlook from financial analysts, with the company receiving a consensus rating of "Reduce" based on recent research.
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Stock Movement Drivers
Fundamental Drivers
The -19.2% change in STKS stock from 5/31/2026 to 9/17/2026 was primarily driven by a -12.8% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.00 | 1.62 | -19.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 807 | 801 | -0.9% |
| P/S Multiple | 0.1 | 0.1 | -12.8% |
| Shares Outstanding (Mil) | 31 | 33 | -6.5% |
| Cumulative Contribution | -19.2% |
Market Drivers
5/31/2026 to 9/17/2026| Return | Correlation | |
|---|---|---|
| STKS | -19.2% | |
| Market (SPY) | 0.8% | 12.3% |
| Sector (XLY) | -7.8% | 23.3% |
Fundamental Drivers
The -19.8% change in STKS stock from 2/28/2026 to 9/17/2026 was primarily driven by a -11.1% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.02 | 1.62 | -19.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 821 | 801 | -2.4% |
| P/S Multiple | 0.1 | 0.1 | -11.1% |
| Shares Outstanding (Mil) | 31 | 33 | -7.5% |
| Cumulative Contribution | -19.8% |
Market Drivers
2/28/2026 to 9/17/2026| Return | Correlation | |
|---|---|---|
| STKS | -19.8% | |
| Market (SPY) | 11.5% | 13.4% |
| Sector (XLY) | -4.5% | 12.6% |
Fundamental Drivers
The -41.9% change in STKS stock from 8/31/2025 to 9/17/2026 was primarily driven by a -38.3% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.79 | 1.62 | -41.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 834 | 801 | -4.1% |
| P/S Multiple | 0.1 | 0.1 | -38.3% |
| Shares Outstanding (Mil) | 33 | 33 | -1.9% |
| Cumulative Contribution | -41.9% |
Market Drivers
8/31/2025 to 9/17/2026| Return | Correlation | |
|---|---|---|
| STKS | -41.9% | |
| Market (SPY) | 19.2% | 15.9% |
| Sector (XLY) | -3.3% | 16.3% |
Fundamental Drivers
The -76.4% change in STKS stock from 8/31/2023 to 9/17/2026 was primarily driven by a -89.8% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.85 | 1.62 | -76.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 327 | 801 | 144.6% |
| P/S Multiple | 0.7 | 0.1 | -89.8% |
| Shares Outstanding (Mil) | 32 | 33 | -5.1% |
| Cumulative Contribution | -76.4% |
Market Drivers
8/31/2023 to 9/17/2026| Return | Correlation | |
|---|---|---|
| STKS | -76.4% | |
| Market (SPY) | 75.3% | 30.8% |
| Sector (XLY) | 33.5% | 33.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STKS Return | 241% | -50% | -3% | -53% | -40% | -13% | -59% |
| Peers Return | 5% | -6% | 31% | 52% | -7% | 38% | 151% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| STKS Win Rate | 67% | 17% | 50% | 25% | 42% | 33% | |
| Peers Win Rate | 52% | 38% | 58% | 62% | 43% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| STKS Max Drawdown | -34% | -62% | -53% | -55% | -63% | -40% | |
| Peers Max Drawdown | -36% | -35% | -24% | -26% | -36% | -22% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DRI, TXRH, BLMN, CAKE, EAT.
[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 9/17/2026 (YTD)
How Low Can It Go
| Event | STKS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.2% | -18.8% |
| % Gain to Breakeven | 28.6% | 23.1% |
| Time to Breakeven | 20 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.2% | -7.8% |
| % Gain to Breakeven | 16.6% | 8.5% |
| Time to Breakeven | 277 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -81.0% | -33.7% |
| % Gain to Breakeven | 427.6% | 50.9% |
| Time to Breakeven | 331 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.9% | -19.2% |
| % Gain to Breakeven | 44.7% | 23.8% |
| Time to Breakeven | 141 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -33.9% | -3.7% |
| % Gain to Breakeven | 51.3% | 3.9% |
| Time to Breakeven | 308 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.3% | -12.2% |
| % Gain to Breakeven | 43.4% | 13.9% |
| Time to Breakeven | 953 days | 62 days |
In The Past
One Hospitality's stock fell -22.2% during the 2025 US Tariff Shock. Such a loss loss requires a 28.6% gain to breakeven.
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Asset Allocation
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| Event | STKS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.2% | -18.8% |
| % Gain to Breakeven | 28.6% | 23.1% |
| Time to Breakeven | 20 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -81.0% | -33.7% |
| % Gain to Breakeven | 427.6% | 50.9% |
| Time to Breakeven | 331 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.9% | -19.2% |
| % Gain to Breakeven | 44.7% | 23.8% |
| Time to Breakeven | 141 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -33.9% | -3.7% |
| % Gain to Breakeven | 51.3% | 3.9% |
| Time to Breakeven | 308 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.3% | -12.2% |
| % Gain to Breakeven | 43.4% | 13.9% |
| Time to Breakeven | 953 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -49.4% | -6.8% |
| % Gain to Breakeven | 97.7% | 7.3% |
| Time to Breakeven | 1841 days | 15 days |
In The Past
One Hospitality's stock fell -22.2% during the 2025 US Tariff Shock. Such a loss loss requires a 28.6% 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 One Hospitality (STKS)
The ONE Group Hospitality, Inc. (STKS) is a global hospitality company primarily engaged in developing, owning, operating, managing, and licensing restaurants and lounges. Beyond its proprietary restaurant concepts, the company also specializes in providing comprehensive, turn-key food and beverage services for a variety of hospitality venues, including hotels and casinos, where it manages and operates all aspects of their F&B offerings.
The company's main products and services revolve around its two core restaurant brands: STK, known for its high-energy steakhouse experience, and Kona Grill, which offers sushi and American cuisine. In addition to these branded restaurants, STKS delivers extensive hospitality food and beverage solutions. This encompasses everything from developing, managing, and operating restaurants, bars, rooftops, and pools, to providing banqueting, catering, private dining room services, room service, and mini-bars. The company also offers advisory and consulting services for hospitality F&B operations.
STKS serves a diverse customer base, including diners at its STK and Kona Grill restaurants, as well as institutional clients such as hotels and casinos that seek expert management for their food and beverage operations. As of December 2021, the company operated or licensed 60 venues worldwide, including 23 STKs and 24 Kona Grills spread across North America, Europe, and the Middle East, alongside 13 F&B venues within hotels and casinos in the United States and Europe.
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- It's like Darden Restaurants (DRI), but focused exclusively on developing and operating upscale, experiential restaurant brands like steakhouses and sushi bars.
- Imagine if Darden Restaurants (DRI) also ran all the food and beverage operations for major hotel chains like Marriott International (MAR).
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- Restaurant and Lounge Operations: Develops, owns, operates, manages, and licenses full-service restaurants and lounges, primarily under the STK and Kona Grill brands.
- Hospitality Food and Beverage Solutions: Provides comprehensive, turn-key food and beverage services for third-party hospitality venues such as hotels and casinos, encompassing all F&B operations.
- Hospitality Advisory and Consulting Services: Offers expert guidance and consultation to other hospitality businesses on various operational and strategic aspects.
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One Hospitality (STKS) primarily sells its food and beverage offerings and hospitality experiences to individual customers. Based on its operations, the major categories of customers it serves include:
- Leisure & Social Diners: Individuals, couples, and groups seeking an upscale dining and lounge experience for personal enjoyment, celebrations, and social gatherings at their STK steakhouses and Kona Grill restaurants.
- Business & Corporate Clientele: Professionals and companies utilizing STK and Kona Grill venues for business meals, client entertainment, corporate events, and private dining functions.
- Hotel & Casino Guests: Individuals staying at or visiting partner hotels and casinos where ONE Hospitality manages and operates various food and beverage outlets (e.g., restaurants, bars, room service, banqueting), making them direct consumers of STKS's offerings within those specific venues.
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Emanuel P. Hilario, President and Chief Executive Officer
Mr. Hilario has served as President and Chief Executive Officer of The ONE Group Hospitality, Inc. since October 30, 2017, and has been a member of its board of directors since April 2017. With over 30 years of restaurant experience, he previously held the role of Chief Financial Officer for Sizzling Platter, a restaurant platform operating over 400 franchised restaurants, from 2015 to 2017. Before that, he served as Chief Operations Officer (2013-2014) and Chief Financial Officer (2010-2013) for Einstein Noah Restaurant Group, Inc. His prior experience also includes serving as Chief Financial Officer for McCormick & Schmick's Seafood Restaurants, Inc. (2004-2009) and Angelo and Maxie's, Inc. (2002-2004). Mr. Hilario began his career at McDonald's and founded Koios Path, LLC.
Nicole Thaung, Chief Financial Officer
Ms. Thaung was appointed Chief Financial Officer of The ONE Group Hospitality, Inc. effective September 8, 2025, succeeding Tyler Loy. She brings over 15 years of experience from Benihana, a subsidiary of The ONE Group, where she served as Chief Financial Officer since August 2018. Prior to her CFO role at Benihana, she held various leadership positions, including Vice President of Finance and Controller. Before joining Benihana in 2009, Ms. Thaung spent nearly eight years at Ernst & Young LLP, where her last role was Audit Manager. She was instrumental in the integration of Benihana after its acquisition by The ONE Group.
Caroline O'Mahony Baker, Senior Vice President of Operations
Ms. O'Mahony Baker joined The ONE Group in 2008 and has held the position of Vice President of Operations since September 2018. With over 18 years of industry experience, she oversees the Events Department, Human Resources, Facilities, and Reservations. Her background includes overseeing the opening of multiple properties and brands, such as STK Miami, Asellina in New York, and the Gansevoort Hotel. She began her hospitality career in San Francisco and worked for Rira Irish Pubs.
Daniel Cunningham, Chief Information Officer
Mr. Cunningham has served as Chief Information Officer since January 2019. Before joining The ONE Group, he was the Managing Director and Founder of Tack Sharp Consulting LLC. His previous experience also includes serving as Senior Vice President of Information Technology at Einstein Noah Restaurant Group, Inc. and Vice President of Information at McCormick & Schmick's Seafood Restaurants, Inc.
Jonathan Segal, Executive Chairman and Director of Business Development
Mr. Segal is a co-founder of The ONE Group and transitioned to Executive Chairman and Director of Business Development in late 2017, having previously served as CEO. He brings over 35 years of experience in developing hospitality projects, focusing on strategic growth initiatives, leveraging deep industry connections, and expanding the brand globally through licensing and business development.
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Key Risks to One Hospitality (STKS)
- Poor Financial Health and High Leverage: The company faces significant financial challenges, evidenced by a Z-Score in the distress zone (0.79), indicating a potential bankruptcy risk within two years. It also exhibits low interest coverage (1.16), a low current ratio (0.35) suggesting liquidity issues, and a high debt-to-equity ratio (5.31). Furthermore, the company has reported a negative net margin, and its financial health grades indicate poor financial strength. The recent delay in filing its annual Form 10-K, attributed to additional work required for the valuation of intangible assets and an expected approximately $60 million increase in income tax expense due to a non-cash tax valuation allowance, further highlights its financial constraints.
- Sensitivity to Economic Cycles and High Competition in the Restaurant Industry: As a company in the consumer cyclical sector, specifically the restaurant industry, One Hospitality is highly sensitive to economic cycles and faces intense competition. The company reported a 1.8% decline in consolidated comparable sales for Q4 and a 3.7% decrease for the full year 2025, underscoring operational challenges in a competitive market. This has led to underperformance compared to both the broader US Hospitality industry and the overall US Market.
- Stock Volatility and Negative Investor Sentiment: STKS exhibits high stock volatility with a beta of 1.97, suggesting greater price fluctuations than the overall market. Insider sentiment is negative, with key executives engaging in significant open-market selling. The stock has experienced a decline in price over recent periods, and some AI models have assigned a "Strong Sell" rating, driven by weak fundamentals including declining sales.
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The emergence and rapid growth of ghost kitchens and virtual restaurant brands pose a clear emerging threat to One Hospitality. These operational models allow competitors to operate with significantly lower overheads by eliminating the need for physical dining spaces, focusing solely on delivery and takeout. This shift challenges the traditional brick-and-mortar restaurant model, particularly for brands like Kona Grill and the broader F&B services STKS provides to hotels and casinos. Ghost kitchens can offer greater flexibility, speed to market, and potentially lower prices, thereby disrupting the established restaurant and hospitality food service landscape by fundamentally altering how food is prepared and distributed to consumers.
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Full-Service Restaurants
- U.S.: The U.S. full-service restaurants market is predicted to be valued at US$ 371.9 billion in 2025. This market is projected to reach US$ 715.8 billion by 2032.
- Europe: The full-service restaurants segment within the Europe foodservice market was approximately USD 349.075 billion in 2025. The overall Europe foodservice market size was USD 950 billion in 2025, with full-service restaurants accounting for 36.85% of the share.
- Middle East: The Middle East restaurant market was valued at $55.65 billion in 2024.
Hospitality Food and Beverage Services
- U.S.: Food and beverage services accounted for 44% of the U.S. hospitality spending in 2024. Given the overall U.S. Hospitality Market reached USD 1270.04 billion in 2024, the food and beverage services portion was approximately USD 558.82 billion.
- Europe: The Food and Beverage Services segment dominated the Europe hospitality market with a 58.3% share in 2025. With the Europe hospitality market valued at USD 1640.53 billion in 2025, the food and beverage services market was approximately USD 956.88 billion.
- Middle East & North Africa (MENA): The MENA hospitality market size was valued at USD 286.06 billion in 2024. Food & Beverage is anticipated to remain the highest-growth segment within the broader Middle East and Africa Hospitality Market, which was valued at USD 574.01 billion in 2024. The UAE food service market alone was valued at $17.8 billion in 2024.
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- Benihana Acquisition and Integration: The full-year impact and continued integration of the Benihana acquisition, completed in May 2024, are anticipated to significantly contribute to revenue growth. The company reported that this acquisition was the primary driver for a 20% increase in total GAAP revenue for 2025.
- Portfolio Optimization and Conversions: The company is actively optimizing its portfolio by closing underperforming Kona Grill and RA Sushi locations and converting some of these sites to higher-performing STK or Benihana restaurants. This strategy aims to improve profitability and is expected to contribute to future revenue.
- New Venue Openings: The ONE Group plans to expand its footprint by opening new company-owned STK and Benihana restaurants, as well as pursuing asset-light expansion through managed and licensed venues. The company projects new venue openings for 2026.
- Comparable Sales Growth and Operational Improvements: Initiatives such as operational redesigns, loyalty programs like "Friends with Benefits," and menu innovation are expected to drive improved comparable sales across its brands, including STK, Benihana, and Kona Grill. The company anticipates consolidated comparable sales to be flat to up 1% for Q1 2026 and to rise by 1% to 3% for the full fiscal year 2026.
- Asset-Light Expansion: The company is focused on a capital-efficient growth strategy by expanding its presence through managed, licensed, and franchised restaurants and hospitality venues for its STK, Benihana, and Kona Grill brands, thereby increasing high-margin, recurring revenue streams.
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Share Repurchases
- In March 2024, the Board of Directors authorized a $5 million share repurchase program.
- The company purchased $0.3 million in shares during the first quarter of 2025.
- During the third quarter of 2025, an additional $0.2 million in shares were purchased under the program.
Share Issuance
No significant share issuances were identified; instead, the weighted average shares outstanding have shown a net decrease from $34 million in Q4 2021 to $31 million in Q3 2025.
Outbound Investments
- In May 2024, The ONE Group Hospitality acquired Benihana Inc., which included the Benihana and RA Sushi brands, for $365 million.
Capital Expenditures
- For 2026, the company plans to prioritize capital-efficient growth, focusing on new company-owned developments requiring $1.5 million or less to open, and significantly reducing discretionary capital expenditures.
- Conversions of existing Kona Grill and RA Sushi locations to Benihana or STK formats through the end of 2026 are expected to require approximately $1 million in capital investment per conversion.
- The company's total capital expenditures, net of allowances, are projected to be between $38 million and $42 million for fiscal year 2026.
Peer Outperformance in Restaurants
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -16.7% | 81.0% | 70.1% | LINC 299% · PRDO 230% · CVSA 219% |
| Homebuilding | 18 | -11.3% | 26.2% | 46.7% | GRBK 189% · PHM 156% · MHO 125% |
| Specialty Stores | 7 | 7.9% | 38.2% | 4.6% | SIG 33% · FIVE 23% · ASO 18% |
| Home Improvement Retail | 5 | -26.0% | -5.3% | 2.3% | HVT 13% · LOW 2% · HD 2% |
| Hotels, Resorts & Cruise Lines | 22 | 12.0% | 42.6% | 2.2% | RCL 208% · MAR 142% · HLT 134% |
| Automotive Retail | 18 | -19.7% | -2.4% | -0.6% | MUSA 222% · PAG 151% · ORLY 112% |
| Distributors | 4 | -11.3% | -25.1% | -11.1% | ARMK 159% · GPC 24% · LKQ -46% |
| Home Furnishings | 4 | -6.1% | 20.2% | -14.7% | SGI 44% · LZB 0% · MHK -29% |
| Restaurants ← | 35 | -15.5% | -18.5% | -18.5% | EAT 298% · CAKE 139% · BH-A 131% |
| Specialized Consumer Services | 10 | -16.1% | 21.0% | -20.3% | HRB 111% · FTDR 75% · SCI 39% |
| Footwear | 9 | 49.6% | 42.3% | -20.7% | WEYS 162% · SHOO 18% · DECK 10% |
| Leisure Products | 13 | -25.9% | -21.7% | -35.1% | GOLF 72% · HAS 11% · MCFT -21% |
| Apparel, Accessories & Luxury Goods | 27 | -10.3% | 4.4% | -37.5% | ELA 227% · TPR 226% · RL 226% |
| Leisure Facilities | 11 | -1.6% | -2.0% | -38.7% | OSW 124% · JAKK 112% · ESCA 26% |
| Automotive Parts & Equipment | 38 | -14.7% | -13.8% | -39.1% | MOD 1545% · GTX 309% · BWA 81% |
| Casinos & Gaming | 20 | -9.8% | -28.1% | -41.1% | MCRI 108% · RRR 41% · RSI 31% |
| Apparel Retail | 25 | -8.7% | 12.3% | -41.6% | ANF 272% · URBN 133% · ROST 111% |
| Household Appliances | 18 | -5.9% | 4.8% | -43.1% | KEQU 173% · FLXS 144% · HBB 124% |
| Computer & Electronics Retail | 3 | -12.8% | 29.7% | -55.6% | BBY 9% · GME -56% · UPBD -62% |
| Broadline Retail | 15 | -18.7% | 14.6% | -57.1% | DDS 308% · EBAY 66% · AMZN 45% |
| Automobile Manufacturers | 8 | -77.2% | -50.6% | -72.9% | GM 76% · TSLA 45% · F 37% |
| Consumer Electronics | 11 | -12.1% | -16.4% | -76.6% | AXIL 2673% · GRMN 82% · SONO -57% |
| Other Specialty Retail | 18 | -34.3% | -50.5% | -78.5% | TLF 111% · BBW 71% · WINA 60% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 131.33 |
| Mkt Cap | 6.5 |
| Rev LTM | 4,893 |
| Op Inc LTM | 380 |
| FCF LTM | 303 |
| FCF 3Y Avg | 245 |
| CFO LTM | 572 |
| CFO 3Y Avg | 468 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.8% |
| Rev Chg 3Y Avg | 10.1% |
| Rev Chg Q | 6.4% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | 1.9% |
| Op Inc Chg 3Y Avg | 20.5% |
| Op Mgn LTM | 7.4% |
| Op Mgn 3Y Avg | 7.5% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 11.0% |
| CFO/Rev 3Y Avg | 9.9% |
| FCF/Rev LTM | 5.9% |
| FCF/Rev 3Y Avg | 4.9% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Benihana | 444 | 298 | 0 | ||
| STK | 223 | 217 | 201 | 187 | 151 |
| Grill Concepts | 138 | 156 | 132 | ||
| Other | 1 | 2 | 0 | ||
| Corporate | 1 | 1 | |||
| Kona Grill | 126 | 123 | |||
| ONE Hospitality | 2 | 2 | |||
| Total | 806 | 673 | 333 | 317 | 277 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| STK | 39 | 40 | 40 | 6 | 15 |
| Kona Grill | 2 | 7 | 13 | 3 | 2 |
| ONE Hospitality | 0 | 1 | 0 | 0 | 2 |
| Corporate | -32 | -33 | -34 | -23 | -6 |
| Total | 9 | 16 | 19 | -14 | 13 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| STK | 154 | 114 | 96 | 81 | 83 |
| Kona Grill | 98 | 79 | 69 | 96 | 94 |
| Corporate | 60 | 93 | 60 | 32 | 22 |
| ONE Hospitality | 6 | 6 | 6 | 5 | 8 |
| Total | 317 | 291 | 230 | 216 | 207 |
Price Behavior
| Market Price | $1.62 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 10/30/2013 | |
| Distance from 52W High | -48.1% | |
| 50 Days | 200 Days | |
| DMA Price | $1.74 | $1.89 |
| DMA Trend | down | down |
| Distance from DMA | -6.7% | -14.5% |
| 3M | 1YR | |
| Volatility | 45.8% | 66.4% |
| Downside Capture | 150.89 | 165.63 |
| Upside Capture | 44.01 | 86.98 |
| Correlation (SPY) | 15.9% | 15.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.55 | 0.77 | 0.22 | 0.42 | 0.78 | 1.34 |
| Up Beta | -0.17 | -0.48 | 1.54 | 0.10 | -0.10 | 1.24 |
| Down Beta | 8.48 | 1.93 | -0.90 | -0.15 | 0.30 | 1.04 |
| Up Capture | -34% | 26% | -21% | 37% | 71% | 121% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 18 | 29 | 60 | 113 | 333 |
| Down Capture | 94% | 181% | 66% | 105% | 141% | 111% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 22 | 33 | 61 | 128 | 391 |
[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 STKS | |
|---|---|---|---|---|
| STKS | -37.3% | 66.4% | -0.44 | - |
| Sector ETF (XLY) | -7.5% | 19.5% | -0.52 | 16.3% |
| Equity (SPY) | 16.6% | 12.9% | 0.92 | 15.8% |
| Gold (GLD) | 17.4% | 29.3% | 0.55 | 4.2% |
| Commodities (DBC) | 45.8% | 20.7% | 1.72 | -10.7% |
| Real Estate (VNQ) | 5.7% | 13.5% | 0.16 | 8.9% |
| Bitcoin (BTCUSD) | -34.9% | 43.9% | -0.85 | 16.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STKS | |
|---|---|---|---|---|
| STKS | -31.0% | 62.0% | -0.36 | - |
| Sector ETF (XLY) | 4.7% | 24.1% | 0.16 | 39.9% |
| Equity (SPY) | 12.6% | 17.2% | 0.56 | 38.2% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 3.9% |
| Commodities (DBC) | 11.7% | 19.6% | 0.47 | 2.9% |
| Real Estate (VNQ) | 1.0% | 18.8% | -0.05 | 33.4% |
| Bitcoin (BTCUSD) | 10.4% | 52.5% | 0.38 | 21.5% |
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 STKS | |
|---|---|---|---|---|
| STKS | -4.1% | 68.0% | 0.23 | - |
| Sector ETF (XLY) | 11.8% | 22.2% | 0.48 | 32.8% |
| Equity (SPY) | 15.1% | 18.0% | 0.71 | 31.7% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 3.3% |
| Commodities (DBC) | 8.5% | 18.1% | 0.39 | 9.6% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.17 | 31.7% |
| Bitcoin (BTCUSD) | 62.0% | 66.1% | 1.02 | 13.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -3.4% | 0.6% | -7.9% |
| 5/6/2026 | 1.6% | 0.5% | -2.1% |
| 3/13/2026 | -3.9% | 2.2% | -6.1% |
| 1/12/2026 | 20.6% | 25.5% | 4.9% |
| 11/6/2025 | -4.1% | -6.1% | -5.6% |
| 8/5/2025 | -5.9% | -10.5% | -10.8% |
| 5/7/2025 | 12.8% | 34.9% | 13.8% |
| 3/10/2025 | -11.7% | -10.1% | -5.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 15 | 13 |
| # Negative | 13 | 12 | 14 |
| Median Positive | 6.7% | 14.1% | 5.9% |
| Median Negative | -4.1% | -7.1% | -7.6% |
| Max Positive | 20.6% | 34.9% | 49.4% |
| Max Negative | -18.6% | -24.0% | -21.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -3.4% | 0.6% | -7.9% |
| 5/6/2026 | 1.6% | 0.5% | -2.1% |
| 3/13/2026 | -3.9% | 2.2% | -6.1% |
| 1/12/2026 | 20.6% | 25.5% | 4.9% |
| 11/6/2025 | -4.1% | -6.1% | -5.6% |
| 8/5/2025 | -5.9% | -10.5% | -10.8% |
| 5/7/2025 | 12.8% | 34.9% | 13.8% |
| 3/10/2025 | -11.7% | -10.1% | -5.6% |
| 1/13/2025 | 8.8% | 16.9% | 11.6% |
| 11/7/2024 | -18.6% | -24.0% | -17.9% |
| 8/6/2024 | -10.6% | -8.0% | -12.6% |
| 5/7/2024 | -3.5% | 22.9% | 10.2% |
| 3/14/2024 | 12.1% | 22.6% | 49.4% |
| 11/7/2023 | -1.5% | 0.4% | 8.5% |
| 8/3/2023 | -2.8% | -0.1% | 1.5% |
| 5/4/2023 | 1.6% | -8.6% | -3.2% |
| 3/9/2023 | -0.6% | -3.4% | 4.2% |
| 11/3/2022 | -18.1% | -8.7% | -8.4% |
| 8/4/2022 | -10.9% | -5.5% | -21.3% |
| 5/6/2022 | 4.7% | -2.8% | 3.0% |
| 3/14/2022 | 2.1% | 14.1% | 1.6% |
| 1/25/2022 | 1.2% | 3.8% | -7.2% |
| 11/4/2021 | 11.7% | 7.6% | -8.7% |
| 8/10/2021 | 15.6% | -2.3% | -2.6% |
| 6/3/2021 | 1.5% | 14.8% | 3.5% |
| 3/19/2021 | 1.5% | 3.3% | 5.9% |
| 11/5/2020 | 20.6% | 25.8% | 36.1% |
| SUMMARY STATS | |||
| # Positive | 14 | 15 | 13 |
| # Negative | 13 | 12 | 14 |
| Median Positive | 6.7% | 14.1% | 5.9% |
| Median Negative | -4.1% | -7.1% | -7.6% |
| Max Positive | 20.6% | 34.9% | 49.4% |
| Max Negative | -18.6% | -24.0% | -21.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/10/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/10/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/16/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/10/2021 | 10-Q |
| 03/31/2021 | 05/11/2021 | 10-Q |
| 12/31/2020 | 03/19/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/12/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/26/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 9/15/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Consolidated comparable sales | Reported | 0 | 0.01 | 0.02 | -0.5% | Lower New | Guidance: 0.01 for Q2 2026 | |
| Q3 2026 Total GAAP revenues | Reported | 176.00 Mil | 178.00 Mil | 180.00 Mil | -12.7% | Lower New | Guidance: 204.00 Mil for Q2 2026 | |
| Q3 2026 Consolidated Adjusted EBITDA | Reported | 12.00 Mil | 13.50 Mil | 15.00 Mil | -46.0% | Lower New | Guidance: 25.00 Mil for Q2 2026 | |
| 2026 Consolidated comparable sales | Reported | 0.01 | 0.01 | 0.02 | -0.5% | Lowered | Guidance: 0.02 for 2026 | |
| 2026 Total GAAP revenues | Reported | 805.00 Mil | 812.50 Mil | 820.00 Mil | -4.1% | Lowered | Guidance: 847.50 Mil for 2026 | |
| 2026 Consolidated Adjusted EBITDA | Reported | 95.00 Mil | 100.00 Mil | 105.00 Mil | -4.8% | Lowered | Guidance: 105.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Consolidated comparable sales | Reported | 0.01 | 0.01 | 0.02 | ||||
| Q2 2026 Total GAAP revenues | Reported | 202.00 Mil | 204.00 Mil | 206.00 Mil | ||||
| Q2 2026 Managed, license and franchise fee revenues | Reported | 3.00 Mil | 3.50 Mil | 4.00 Mil | ||||
| Q2 2026 Consolidated Adjusted EBITDA | Reported | 24.00 Mil | 25.00 Mil | 26.00 Mil | ||||
| 2026 Consolidated comparable sales | Reported | 0.01 | 0.02 | 0.03 | 0.0% | Affirmed | Guidance: 0.02 for 2026 | |
| 2026 Total GAAP revenues | Reported | 840.00 Mil | 847.50 Mil | 855.00 Mil | 0.0% | Affirmed | Guidance: 847.50 Mil for 2026 | |
| 2026 Managed, license and franchise fee revenues | Reported | 14.00 Mil | 14.50 Mil | 15.00 Mil | ||||
| 2026 Consolidated Adjusted EBITDA | Reported | 100.00 Mil | 105.00 Mil | 110.00 Mil | 0.0% | Affirmed | Guidance: 105.00 Mil for 2026 | |
| 2026 Consolidated total capital expenditures | Reported | 38.00 Mil | 40.00 Mil | 42.00 Mil | ||||
Q4 2025 Earnings Reported 3/13/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Consolidated comparable sales | Reported | 0 | 0.01 | 0.01 | ||||
| Q1 2026 Total GAAP revenues | Reported | 217.00 Mil | 219.00 Mil | 221.00 Mil | ||||
| Q1 2026 Consolidated Adjusted EBITDA | Reported | 28.00 Mil | 28.50 Mil | 29.00 Mil | ||||
| 2026 Consolidated comparable sales | Reported | 0.01 | 0.02 | 0.03 | ||||
| 2026 Total GAAP revenues | Reported | 840.00 Mil | 847.50 Mil | 855.00 Mil | ||||
| 2026 Consolidated Adjusted EBITDA | Reported | 100.00 Mil | 105.00 Mil | 110.00 Mil | ||||
Q4 2025 Earnings Reported 1/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Conversion Locations | Reported | 9 | ||||||
| 2026 Capital Investment per Restaurant | Reported | 1.00 Mil | ||||||
Investor Activity (13F)
Updated Sep 18, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
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 |
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