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Rave Restaurant Group, Inc. (RAVE) stock

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NASDAQ: RAVE Nasdaq Restaurants Next results ~December 24, 2026

B Fundamentals grade

Rave Restaurant Group, Inc. is a US-listed company in the restaurants industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$5.3

Cash-flow model

Base case. Range ~$4.2–$6.8 across our lower- and higher-growth cases (0%–10% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 146% above it.

Price used: $2.16, November 3, 2026

Rave Restaurant Group, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds19 adding, 7 cuttingOf 3 active managers that changed their stake, 3 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rave Restaurant Group files

Where Rave Restaurant stands after its latest 10-K

Revenue for the twelve months to June 2026 was $13m, up 7.2% on a year earlier, faster than the 3.2% growth a quarter earlier. Free-cash-flow margin held at 27.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $5.26 a share, against a share price of $2.22. At that price, our model says the market is pricing in cash flow shrinking about 15.9% a year for five years, slower than the 8.5% a year revenue growth it has delivered.

Source: 10-K filed September 24, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 24, 2026 (estimated)

Rave Restaurant Group, Inc.'s trailing-twelve-month revenue grew 7.2% year on year, with a free-cash-flow margin of 27.1%. Where it stands out: free-cash-flow margin of 27.1% ranks 2 of 44 restaurants companies we cover. Where it lags: days sales outstanding of 41 days ranks 25 of 25 restaurants companies we cover.

Our discounted-cash-flow model values the business at ~$5.3 per share in the base case (~$4.2–$6.8 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 180% in the quarter to 2016-09-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $2.16 is 146% below our value per share of $5.
  • Growth speeding up. The growth rate is 4.0 points higher than a quarter earlier.
  • High operating margin. 26.9% of revenue is left as operating profit, against a median of 5.2% for restaurants companies we cover.
  • Strong cash generation. 27.1% of revenue turned into free cash flow, against a median of 3.6% for restaurants companies we cover.
  • Shrinking share count. Diluted shares fell 1.8% in a year, so each share owns more of the business.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 49% and a beta of 0.3 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 41 days ranks 25 of 25 restaurants companies we cover (median 6 days).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.3% ranks 35 of 40 restaurants companies we cover (median 0.8%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q4

Filed September 24, 2026
Earnings per share
-$0.14 against an average estimate of -$0.05: missed by 180.0%
Revenue
$3m, up 8.8% on a year earlier
Share reaction
-16.7% in the first session after the results on September 24, 2026, against +0.5% for the S&P 500

Rave Restaurant Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week-1.4%
  • 1 month-6.5%
  • This year-34.5%
  • 1 year-14.3%
  • 5 years+72.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$12.9M
Operating margin
26.9%
Net margin
22.3%
EPS (TTM, diluted)
$0.20

Growth

Revenue growth
+7.2%
Change in growth rate
+4.0 pts
Share count change
−1.8%

Cash

Free cash flow (TTM)
$3.5M
FCF margin
27.1%
Stock pay % of revenue
2.3%

Earnings

Last results
September 24, 2026
Next results (est.)
December 24, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rave Restaurant Group, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 17.1% a year for five years.That is slower than the 8.5% a year revenue growth Rave Restaurant Group has delivered.

  • Priced in-17.1%
  • Last 12 months7.2%
  • 3 years a year2.8%
  • 5 years a year8.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($2.16, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$5.3
Price used
$2.16close November 3, 2026
Implied change
▲ +146%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Rave Restaurant Group, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($3.1M, FY2026 Q4 TTM), growing 5% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$4.2–~$6.7 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Rave Restaurant Group, Inc.'s free cash flow after stock-based pay ( $3.1M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Rave Restaurant Group, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.82 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$5.3 ~$4.2–$6.8 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$3.8 ~$3.5–$6.6 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$13 ~$8.7–$19 Left out: out of range vs price (5.83x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$6.1 ~$5.2–$7.5 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.1 ~$3.8–$6.1 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Rave Restaurant Group, Inc. with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −21%
  • Revenue growth 5 points higher ▲ +28%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▼ −2%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $4$5$7$9$11$15
8.5% $3$4$5$7$9$11
10% $3$4$4$6$7$9

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$3.95$1.83$1.32$3.08$0.90$1.42$1.06$1.88$1.98$2.63$3.42
Market value$41m$19m$20m$46m$14m$26m$19m$30m$29m$38m$49m
+ Net debt (− = net cash)−$873000$3m$176000−$680000−$1m−$7m−$8m−$5m−$3m−$3m−$1m
Enterprise value$40m$23m$20m$46m$12m$19m$11m$25m$26m$35m$48m
Multiples
Price / sales 0.7x0.7x1.3x3.8x1.4x3.0x1.8x2.5x2.4x3.2x3.8x
Price / earnings ——10.3x——16.9x2.4x18.5x11.7x14.2x17.0x
Price / free cash flow ———80.3x—20.2x14.5x10.8x10.5x11.5x14.0x
EV / EBITDA ————————8.3x10.3x13.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

73 /100

Strong moat

How hard Rave Restaurant Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 13.1% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 93.3%, moving by 34.2 percentage points (standard deviation) across 6 years.

  • Durability 4 / 20

    Net margin has been a median 15.6%; its worst year was -42.2%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 8 of 9 years, at a median 14.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 21.0% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Rave Restaurant Group, Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2016 −$0.05 −$0.14 −180.0%
Jun 2016 −$0.06 −$0.14 −126.3%
Mar 2016 −$0.03 −$0.13 −336.7%
Dec 2015 −$0.04 −$0.03 +28.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
0.7%
of tradable shares
Days to cover
0.5
at average volume
Short interest, 1 month
−31%
to October 15, 2026
Held by institutions
38%
of shares
Held by insiders
6.3%
of shares
Employees
24
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −15.6%

$2.56 on October 31, 2025 to $2.16

ThenNowEffect
Revenue (last 12 months) $12m $13m +7.2%
Net margin 22.4% 22.3% −0.7%
P/E multiple 13.8x 10.7x −22.2%
Share count 15m 14m +1.8%

Biggest factor: p/e multiple.

Last 3 years −6.9%

$2.32 on November 3, 2023 to $2.16

ThenNowEffect
Revenue (last 12 months) $12m $13m +8.6%
Net margin 13.6% 22.3% +64.3%
P/E multiple 22.9x 10.7x −53.1%
Share count 16m 14m +11.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RAVE+11%+56%+41%+16%+28%−35%
Industry peers (median)+16%−17%+15%−1%−10%+6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RAVE50%42%58%42%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RAVE−45%−39%−32%−23%−36%−40%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 95% from November 11, 2015 to September 2, 2020. Getting back needed a 1812% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.09 – $3.48
From 52-week high
−37.9%
vs 50-day average
−15.7%
vs 200-day average
−24.6%
Volatility (1 year)
49%
Beta vs S&P 500
0.29

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±7.2%
After a week
5 up, 7 down
typical move ±10.2%
After a month
7 up, 5 down
typical move ±16.5%
Results releasedNext dayS&P 500 next day5 days21 days
September 24, 2026 −16.7% +0.5% −16.0% −20.0%
May 7, 2026 +4.9% +0.5% −3.4% +15.0%
February 5, 2026 −0.6% +0.6% +1.2% −19.3%
November 6, 2025 +15.3% −1.0% +21.8% +18.5%
September 25, 2025 −4.2% +0.1% −9.4% −28.1%
May 8, 2025 +10.0% +0.6% +10.4% +4.8%
February 6, 2025 −4.5% −0.6% −2.4% +15.4%
November 7, 2024 −2.3% +1.2% −8.5% +2.3%
September 26, 2024 +18.4% +0.3% +34.5% +59.2%
May 2, 2024 −2.0% +2.2% −8.0% −5.0%
February 1, 2024 +4.2% +2.4% −3.7% −7.9%
November 2, 2023 +3.6% +2.8% +3.6% +2.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Rave Restaurant Group, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Rave Restaurant Group, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Rave Restaurant Group, Inc.
$11.5M $12M $12.5M $13M FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $12M Revenue (TTM), FY24 Q2: $11.9M Revenue (TTM), FY24 Q3: $11.8M Revenue (TTM), FY24 Q4: $12.2M Revenue (TTM), FY25 Q1: $12.1M Revenue (TTM), FY25 Q2: $12.2M Revenue (TTM), FY25 Q3: $12.2M Revenue (TTM), FY25 Q4: $12M Revenue (TTM), FY26 Q1: $12.2M Revenue (TTM), FY26 Q2: $12.4M Revenue (TTM), FY26 Q3: $12.6M Revenue (TTM), FY26 Q4: $12.9M $12.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $12M
FY24 Q2 $11.9M
FY24 Q3 $11.8M
FY24 Q4 $12.2M
FY25 Q1 $12.1M
FY25 Q2 $12.2M
FY25 Q3 $12.2M
FY25 Q4 $12M
FY26 Q1 $12.2M
FY26 Q2 $12.4M
FY26 Q3 $12.6M
FY26 Q4 $12.9M
Revenue growth, TTM YoY Rave Restaurant Group, Inc.
-5% 0% 5% 10% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 7.4% Revenue growth, TTM YoY, FY24 Q2: 4.7% Revenue growth, TTM YoY, FY24 Q3: 1.5% Revenue growth, TTM YoY, FY24 Q4: 2.2% Revenue growth, TTM YoY, FY25 Q1: 1.2% Revenue growth, TTM YoY, FY25 Q2: 3.2% Revenue growth, TTM YoY, FY25 Q3: 3.4% Revenue growth, TTM YoY, FY25 Q4: -0.9% Revenue growth, TTM YoY, FY26 Q1: 0.7% Revenue growth, TTM YoY, FY26 Q2: 1.1% Revenue growth, TTM YoY, FY26 Q3: 3.2% Revenue growth, TTM YoY, FY26 Q4: 7.2% 7.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 7.4%
FY24 Q2 4.7%
FY24 Q3 1.5%
FY24 Q4 2.2%
FY25 Q1 1.2%
FY25 Q2 3.2%
FY25 Q3 3.4%
FY25 Q4 -0.9%
FY26 Q1 0.7%
FY26 Q2 1.1%
FY26 Q3 3.2%
FY26 Q4 7.2%
Operating margin (TTM) Rave Restaurant Group, Inc.
26.5% 27% 27.5% 28% 28.5% FY25 Q4 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 Operating margin (TTM), FY25 Q4: 27.0% Operating margin (TTM), FY26 Q1: 27.8% Operating margin (TTM), FY26 Q2: 28.0% Operating margin (TTM), FY26 Q3: 28.3% Operating margin (TTM), FY26 Q4: 26.9% 26.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY25 Q4 27.0%
FY26 Q1 27.8%
FY26 Q2 28.0%
FY26 Q3 28.3%
FY26 Q4 26.9%
FCF margin (TTM) Rave Restaurant Group, Inc.
15% 20% 25% 30% 35% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 18.9% FCF margin (TTM), FY24 Q2: 19.2% FCF margin (TTM), FY24 Q3: 24.1% FCF margin (TTM), FY24 Q4: 22.8% FCF margin (TTM), FY25 Q1: 22.2% FCF margin (TTM), FY25 Q2: 30.2% FCF margin (TTM), FY25 Q3: 29.9% FCF margin (TTM), FY25 Q4: 27.7% FCF margin (TTM), FY26 Q1: 27.9% FCF margin (TTM), FY26 Q2: 24.6% FCF margin (TTM), FY26 Q3: 25.2% FCF margin (TTM), FY26 Q4: 27.1% 27.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 18.9%
FY24 Q2 19.2%
FY24 Q3 24.1%
FY24 Q4 22.8%
FY25 Q1 22.2%
FY25 Q2 30.2%
FY25 Q3 29.9%
FY25 Q4 27.7%
FY26 Q1 27.9%
FY26 Q2 24.6%
FY26 Q3 25.2%
FY26 Q4 27.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Rave Restaurant Group took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $12.9M
  2. Other income $410,000 · 3.2%
  3. Selling, general and admin $5.9M · 45.7%
  4. Other operating costs $3.5M · 27.4%
  5. Operating income $3.5M · 26.9%
  6. Income tax $1M · 7.8%
  7. Net income $2.9M · 22.3%

Shares of revenue. Source: Rave Restaurant Group's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 0 0 41 42 48 60 26 15 12 10 9 11 12 12 12 13
Gross profit 0 0 6 6 — — — 11 11 10 8 11 12 — — —
EBITDA 0 0 — — — — — — — — — — — 3 3 4
Operating income 0 0 — — — — — — — — — — — 3 3 3
Net income 0 0 −1 −2 −2 −9 −12 2 −1 −4 2 8 2 2 3 3
Diluted EPS $0.17 −$0.01 −$0.15 −$0.17 −$0.18 −$0.86 −$1.18 $0.13 −$0.05 −$0.28 $0.09 $0.45 $0.10 $0.17 $0.19 $0.20
Growth (year on year)
Revenue — −0.1% +>999% +2.5% +14.2% +24.4% −56.5% −42.0% −18.5% −18.6% −14.3% +24.4% +11.2% +2.2% −0.9% +7.2%
EBITDA — −39.5% — — — — — — — — — — — — +8.9% +6.2%
Operating income — −60.7% — — — — — — — — — — — — +10.9% +7.0%
Net income — −76.3% — — — — — — −139.2% — — +427.8% −79.9% +53.3% +9.3% +6.5%
Diluted EPS — −105.9% — — — — — — −138.5% — — +400.0% −77.8% +70.0% +11.8% +5.3%
Margins
Gross margin 18.6% 16.7% 15.6% 14.0% — — — 75.8% 90.9% 95.6% 96.9% 100.0% 100.0% — — —
EBITDA margin 6.7% 4.1% — — — — — — — — — — — 25.9% 28.5% 28.2%
Operating margin 4.7% 1.9% — — — — — — — — — — — 24.1% 27.0% 26.9%
Net margin 3.2% 0.7% −3.1% −3.7% −3.8% −14.8% −47.9% 12.6% −6.1% −42.2% 17.7% 75.0% 13.6% 20.4% 22.4% 22.3%
Free-cash-flow margin 8.0% 8.5% −3.7% −5.1% — — — −33.0% 4.7% −4.1% 14.8% 12.3% 23.3% 22.8% 27.7% 27.1%
Cash flow
Cash from operations 0 0 1 −0 2 2 −6 −4 1 −0 1 1 3 3 3 4
Capital spending −0 −0 2 2 — — — 1 0 0 0 0 0 0 0 0
Free cash flow 0 0 −2 −2 — — — −5 1 −0 1 1 3 3 3 4
Stock-based pay 0 0 0 0 0 0 0 0 0 −0 0 0 0 0 0 0
Free cash flow after stock pay 0 0 −2 −2 — — — −5 1 −0 1 1 2 3 3 3
Balance sheet
Cash 0 0 1 3 6 1 0 1 2 3 8 8 5 3 3 1
Total debt 0 0 1 1 0 — 4 2 2 2 2 — 0 0 0 0
Net debt (negative = net cash) −0 −0 −0 −2 −6 −1 3 0 −1 −1 −7 −8 −5 −3 −3 −1
Diluted shares 8m 8m 8m 9m 10m 10m 11m 15m 15m 15m 18m 18m 16m 15m 15m 14m
Returned to shareholders
Buybacks — — — — — — — — — — 0 1 5 0 1 0
Total returned — — — — — — — — — — 0 1 5 0 1 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 28, 2026
What it owns · $20m
Short-term assets $16mLonger-term assets $4m
What it owes, and who funded it · $20m
Short-term liabilities $2mLonger-term liabilities $1mShareholders' equity $17m
  • Short-term assets cover short-term liabilities $16m of assets due within a year against $2m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $16m short-term assets against $513,000 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Rave Restaurant Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$1.2M
Diluted share count
−1.8%
year over year
Days sales outstanding
41 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in restaurants
Last 12 months unless stated RAVE CCHH CHSN MB GTIM ARKR Median
Revenue, last 12 months $13m $10m $18m $59m $135m $156m $1.4bn
Revenue growth, last 12 months 7.2% 7.6% 0.2% −8.8% −5.8% −9.5% 4.6%
Revenue growth, 3-year average 2.8% — — — −0.9% −6.0% 5.1%
Revenue growth, latest quarter 8.8% — — — −5.0% −6.5% 4.5%
Gross margin 100.0% 19.3% 45.0% — 9.8% — 68.6%
Operating margin 26.9% −24.6% −10.3% — 1.3% −1.6% 4.9%
Operating margin, 3-year average — — — — 0.9% −3.8% 6.9%
Net margin 22.3% −28.0% 1.0% −11.4% 1.7% −2.0% 2.5%
Cash from operations / revenue 27.5% −5.5% 15.7% −2.8% 2.8% −0.2% 11.9%
Free-cash-flow margin 27.1% −7.9% 2.6% −3.0% 1.9% −4.1% 3.4%
Free-cash-flow margin, 3-year average 25.9% — — — 1.1% −0.9% 2.8%
Stock pay / revenue 2.3% 24.1% — — 16.4% 0.0% 0.8%
Change in share count −1.8% 6.0% >999% 28.9% −0.9% 0.3% 0.2%

Median of all 44 companies we cover in restaurants. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 restaurants companies
Measure Company Peer median Rank
Revenue growth Growth 7.2% 4.7% 17 of 44
Change in growth rate Growth +4.0pp +0.3pp 4 of 44
Operating margin Profitability 26.9% 5.2% 5 of 42
Net margin Profitability 22.3% 2.6% 3 of 44
Free-cash-flow margin Cash generation 27.1% 3.6% 2 of 44
Stock pay as % of revenue Cash generation 2.3% 0.8% 35 of 40
Change in share count Balance sheet -1.8% 0.3% 12 of 42
Days sales outstanding Balance sheet 41 days 6 days 25 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 28, 2026
Segments
Line of business Revenue Share YoY
Pizza Inn Franchising $12M 92.9% ▲ 11.2%
Pie Five Franchising $915,000 7.1% ▼ 23.5%
Corporate Administration and Other $0 0.0% ▼ 100.0%
Products and services
Line of business Revenue Share YoY
Supplier and Distributor Incentive Revenues $5.7M 44.4% ▲ 16.0%
Franchise Royalties $4.7M 36.2% ▲ 1.3%
Advertising Funds $2.2M 16.7% ▲ 6.4%
Supplier Convention Funds $209,000 1.6% ▼ 3.7%
Franchise License Fees $106,000 0.8% ▼ 30.7%
Other Revenues $15,000 0.1% ▲ 25.0%
Area Development Exclusivity Fees and Foreign Master License Fees $12,000 0.1% ▼ 7.7%
Rental Income $0 0.0% ▼ 100.0%

From Rave Restaurant Group, Inc.'s 10-K filed September 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.4M
Institutions reporting
33
Shares held vs prior quarter
▲ 48.6%
Positions opened / closed
5 / 4

Top buyers and sellers, Q2 2026: 19 institutions bought and 7 sold ; the biggest buyer was Saber Capital Managment, LLC (+541K shares) and the biggest seller Susquehanna International Group, LLP (−19K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Saber Capital Managment, LLC $2.3M 701K 31.0% ▲ 337.1%
Renaissance Technologies LLC $876,847 268K 11.9% ▲ 51.4%
Vanguard Capital Management LLC $792,314 242K 10.7% ▲ 8.4%
Watchman Group, Inc. $597,756 183K 8.1% 0.0%
Corsair Capital Management, L.P. $475,138 145K 6.4% 0.0%
Geode Capital Management, LLC $426,044 130K 5.8% ▲ 19.5%
True North Advisors, LLC $348,837 107K 4.7% 0.0%
Blackrock, Inc. $232,818 71K 3.2% ▲ 27.1%
Vanguard Fiduciary Trust Co $211,324 65K 2.9% ▲ 0.7%
Citadel Advisors LLC $171,472 52K 2.3% New
Dimensional Fund Advisors LP $140,571 43K 1.9% ▲ 10.0%
Xtx Topco Ltd $134,469 41K 1.8% ▲ 193.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rave Restaurant Group, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around December 24, 2026 estimated from the company's past filing pattern, not announced

  • September 24, 2026
  • May 7, 2026
  • February 5, 2026
  • November 6, 2025
  • September 25, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Rave Restaurant Group, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rave Restaurant Group, Inc. in brief

What does Rave Restaurant Group, Inc. do?
Rave Restaurant Group, Inc. is a US-listed company in the restaurants industry. Its financial year ends in June.
What is Rave Restaurant Group, Inc.'s stock ticker?
Rave Restaurant Group, Inc. trades under the ticker RAVE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rave Restaurant Group, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rave Restaurant Group, Inc. reported revenue of $12.9M, 7.2% higher than a year earlier, according to its SEC filings.
What is Rave Restaurant Group, Inc.'s free cash flow?
Rave Restaurant Group, Inc.'s free-cash-flow margin is 27.1% of revenue over the trailing twelve months, ranking 2 of the 44 restaurants companies we cover.
What is Rave Restaurant Group, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Rave Restaurant Group, Inc.'s free cash flow after stock-based pay gives ~$5.3 per share in the base case, and ~$4.2–$6.8 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Rave Restaurant Group, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Saber Capital Managment, LLC, Renaissance Technologies LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Rave Restaurant Group, Inc.'s market cap?
On June 26, 2026, Rave Restaurant Group, Inc.'s market capitalisation was about $48.9M, with a price-to-earnings ratio of 17.0 and net debt of -$1.1M. Market figures come from third-party market data and may be delayed.
Who are Rave Restaurant Group, Inc.'s competitors?
In our Restaurants peer group, the companies closest to Rave Restaurant Group, Inc. are CCH Holdings Ltd, Chanson International Holding, Masterbeef Group, Good Times Restaurants Inc. and ARK Restaurants Corp. The side-by-side comparison below sets their revenue, margins and growth against Rave Restaurant Group, Inc.'s.
When is Rave Restaurant Group, Inc.'s next earnings date?
Around December 24, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rave Restaurant Group, Inc. announces its own schedule.