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BBQ Holdings, Inc.NasdaqGS:BBQ Rapport sur les actions

Capitalisation boursière US$185.5m
Prix de l'action
n/a
Ma juste valeur
Indisponible
1Y8.0%
7D0.06%
1D
Valeur du portefeuille
​
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BBQ Holdings, Inc.

NasdaqGS:BBQ Rapport sur les actions

Capitalisation boursière : US$185.5m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

BBQ Holdings (BBQ) Aperçu de l'action

BBQ Holdings, Inc. develops, owns, operates, and franchises casual and fast dining restaurants under the Famous Dave’s, Village Inn, Clark Crew BBQ, Granite City, Tahoe Joe’s Steakhouse, Bakers Square, and Real Urban Barbecue names in the United States, Canada, and the United Arab Emirates. Plus de détails

BBQ analyse fondamentale
Score flocon de neige
Évaluation3/6
Croissance future3/6
Performances passées1/6
Santé financière4/6
Dividendes0/6

Récompenses

Se négocie à 57.7% en dessous de notre estimation de sa juste valeur

Les bénéfices devraient augmenter 15.35% par an

Analyse des risques

Des éléments non récurrents importants ayant un impact sur les résultats financiers

Les actionnaires ont été dilués au cours de l'année écoulée

Les marges bénéficiaires (4.6%) sont inférieures à celles de l'année dernière (9.1%)

Volatilité du cours de l'action au cours des 3 derniers mois par rapport au marché US


BBQ Community Fair Values

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BBQ Holdings, Inc. Concurrents

Historique des prix et performances

Résumé des hausses, des baisses et des variations du cours de l'action pour la période du 1er janvier au 31 décembre 2009 BBQ Holdings
Historique des cours de bourse
Prix actuel de l'actionUS$17.24
Plus haut sur 52 semainesUS$17.56
Plus bas sur 52 semainesUS$9.95
Bêta1.63
Variation sur 1 mois0.41%
Variation sur 3 mois60.52%
Variation sur 1 an8.02%
Variation sur 3 ans248.97%
Variation sur 5 ans378.89%
Évolution depuis l'introduction en bourse118.92%

Nouvelles et mises à jour récentes

Seeking Alpha • Aug 09

MTY Food to acquire BBQ for $17.25/share in an highly accretive transaction

MTY Food (OTCPK:MTYFF) and BBQ (NASDAQ:BBQ) entered into a definitive merger agreement wherein the former will acquire all of the issued and outstanding common shares of the latter for cash consideration of $17.25/BBQ share representing total transaction value of ~$200M including BBQ net debt. The transaction consideration will be 100% funded in cash; MTY will use its cash on hand and its existing credit facility to fund the cash consideration. On transaction completion (expected by Q4 of 2022), BBQ will become a subsidiary of MTY and the shares of BBQ will be de-listed from Nasdaq. As of Aug. 9, 2022, BBQ operates 200+ franchised and 100+ corporate-owned restaurants; for FY22 ending Jan. 1, 2023, the company is expected to generate 12-month run-rate system sales and cash EBITDA between $685M to $725M and $25.5M and $27.5M, respectively. With this Transaction, MTY will add leading restaurant brands to its network which will reach a total of ~7K locations, including 3.9K+ in U.S. The transaction is expected to be immediately accretive to MTY’s free cash flow per share; transaction represents a 7.5x multiple of BBQ mid-point FY2022E run-rate cash EBITDA guidance of $26.5M.
Seeking Alpha • Jul 12

BBQ Holdings: The Turnaround Is Now In Full Motion

BBQ is down more than 30% since my previous article which means it is a good time to revisit the investment thesis. In the short term, I believe investors are concerned that the company will suffer as consumer sentiment deteriorates across the economy. However, as evidenced by the recent results, I believe the long-term picture remains intact and the growth model based on cheap M&A deals has so far proved to be successful. According to my estimates and if management maintains the current momentum, BBQ could offer a 100% upside. Investors shouldn't get too excited just yet since market volatility will remain high in the coming months and offer numerous opportunities to accumulate shares at lower prices. Investment Thesis In my previous article on BBQ Holdings, Inc. (BBQ), I came to the conclusion that the company was pursuing a successful turnaround strategy focused on cheap acquisitions as the main growth source. You can read about it here. Since then, BBQ lost ~33% vs. a loss of ~14% for the S&P 500 and has outperformed the market. In the short term, I believe investors are concerned that deteriorating consumer sentiment will harm the company. However, I believe the long-term picture remains intact as illustrated by the recent results. Based on my estimates, BBQ could offer a 100% upside if management maintains the current momentum. As a result, I think the stock offers an attractive risk-reward scenario which makes it a buy. That said, investors shouldn't go all in just yet as I suspect that volatility will remain elevated in the markets in the months ahead and BBQ is likely to see lower prices. Recent Developments On May 10th, 2022, the company reported results for Q1 FY22. Overall, the results were solid and BBQ managed to beat both revenue and EPS estimates. Sales reached ~$64.18 million in the last quarter, representing a ~72% YoY increase. The results were boosted by the Village Inn and Tahoe Joe's Steakhouse acquisitions made in July and October 2021, respectively. More on that in my previous article on BBQ. On top of that, management remains committed to the same growth model going forward. The company acquired three bar-centric locations in March 2022, collectively referred to as Famous Craft Concepts, bringing the total cash spent on M&A deals for Q1 FY22 to $4.43 million. The company used less than $0.5 million in new debt to finance these acquisitions and mostly relied on cash from operating activities and accumulated cash reserves on its balance sheet. Another acquisition took place on April 11 2022 when BBQ closed the purchase of Barrio Queen, a chain of seven authentic Mexican fine dining restaurants in Phoenix, Arizona, for $28.5 million. BBQ 10-Q BBQ's numerous concepts continue to enjoy high comparable sales figures relative to 2019 and 2021, with a few exceptions. Famous Dave's company-owned restaurants are up 12.6%, whereas Village Inn and Bakers Square are down vs 2019. The next quarters will be very important to watch as they will give investors a good idea if management is successful in turning around these two lagging concepts. Given how high inflation is at the moment, I expect same-store sales to remain high over the next year on a company-wide level. BBQ Investor Relations Website TTM sales have now reached ~$233 million, and are at a multi-decade high. The turnaround is in full swing and management was successful in transforming this failing restaurant chain into a thriving M&A growth machine, while keeping the amount of leverage limited. BBQ finished the last quarter with less than $15 million in total debt, which is relatively low compared to the total amount spent on acquisitions in the previous 24 months. Management now expects revenue of $290 to $310 million for FY22, which is ~9% higher compared to the previous guidance from March 2022. Refinitiv Eikon What's good to see is that operations have benefited from this growth model. The TTM gross profit has now exceeded the 2015 high of ~$35 million and TTM cash from operating activities came close to $23.5 million. According to management, FY22 free cash flow is expected to range from $13.5 to $15.5 million, unchanged from what was communicated in March 2022. Refinitiv Eikon The company has a ~17% TTM gross margin, which remains below the 20% average between 2010 and 2015. It is of course very hard to compare today's situation with the last decade since BBQ has completely changed its strategy and is now focused on growing through acquisitions. This business model will impact the gross margin with every new acquisition. The operating margin is also stable at around ~13%, which is in line with other competitors. Refinitiv Eikon Refinitiv Eikon Valuation In my previous article on BBQ, I argued that the business was fairly priced at ~9.4x EV/EBITDA. Based on 10.6 million shares outstanding, the company has a market cap of approximately $117.6 million. In this part, I have used a DCF model to value the business. The following assumptions have been made in the model: Estimated free cash flow for FY23 of $17 million, slightly below Wall Street estimates of $19 million to provide a conservative intrinsic value figure. A growth rate of 5% until FY26. A 2% terminal growth rate. A 10% discount rate, in line with BBQ's WACC.
Article d’analyse • Jul 02

The Return Trends At BBQ Holdings (NASDAQ:BBQ) Look Promising

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Article d’analyse • May 25

What Does BBQ Holdings, Inc.'s (NASDAQ:BBQ) Share Price Indicate?

BBQ Holdings, Inc. ( NASDAQ:BBQ ), might not be a large cap stock, but it saw significant share price movement during...

Recent updates

Seeking Alpha • Aug 09

MTY Food to acquire BBQ for $17.25/share in an highly accretive transaction

MTY Food (OTCPK:MTYFF) and BBQ (NASDAQ:BBQ) entered into a definitive merger agreement wherein the former will acquire all of the issued and outstanding common shares of the latter for cash consideration of $17.25/BBQ share representing total transaction value of ~$200M including BBQ net debt. The transaction consideration will be 100% funded in cash; MTY will use its cash on hand and its existing credit facility to fund the cash consideration. On transaction completion (expected by Q4 of 2022), BBQ will become a subsidiary of MTY and the shares of BBQ will be de-listed from Nasdaq. As of Aug. 9, 2022, BBQ operates 200+ franchised and 100+ corporate-owned restaurants; for FY22 ending Jan. 1, 2023, the company is expected to generate 12-month run-rate system sales and cash EBITDA between $685M to $725M and $25.5M and $27.5M, respectively. With this Transaction, MTY will add leading restaurant brands to its network which will reach a total of ~7K locations, including 3.9K+ in U.S. The transaction is expected to be immediately accretive to MTY’s free cash flow per share; transaction represents a 7.5x multiple of BBQ mid-point FY2022E run-rate cash EBITDA guidance of $26.5M.
Seeking Alpha • Jul 12

BBQ Holdings: The Turnaround Is Now In Full Motion

BBQ is down more than 30% since my previous article which means it is a good time to revisit the investment thesis. In the short term, I believe investors are concerned that the company will suffer as consumer sentiment deteriorates across the economy. However, as evidenced by the recent results, I believe the long-term picture remains intact and the growth model based on cheap M&A deals has so far proved to be successful. According to my estimates and if management maintains the current momentum, BBQ could offer a 100% upside. Investors shouldn't get too excited just yet since market volatility will remain high in the coming months and offer numerous opportunities to accumulate shares at lower prices. Investment Thesis In my previous article on BBQ Holdings, Inc. (BBQ), I came to the conclusion that the company was pursuing a successful turnaround strategy focused on cheap acquisitions as the main growth source. You can read about it here. Since then, BBQ lost ~33% vs. a loss of ~14% for the S&P 500 and has outperformed the market. In the short term, I believe investors are concerned that deteriorating consumer sentiment will harm the company. However, I believe the long-term picture remains intact as illustrated by the recent results. Based on my estimates, BBQ could offer a 100% upside if management maintains the current momentum. As a result, I think the stock offers an attractive risk-reward scenario which makes it a buy. That said, investors shouldn't go all in just yet as I suspect that volatility will remain elevated in the markets in the months ahead and BBQ is likely to see lower prices. Recent Developments On May 10th, 2022, the company reported results for Q1 FY22. Overall, the results were solid and BBQ managed to beat both revenue and EPS estimates. Sales reached ~$64.18 million in the last quarter, representing a ~72% YoY increase. The results were boosted by the Village Inn and Tahoe Joe's Steakhouse acquisitions made in July and October 2021, respectively. More on that in my previous article on BBQ. On top of that, management remains committed to the same growth model going forward. The company acquired three bar-centric locations in March 2022, collectively referred to as Famous Craft Concepts, bringing the total cash spent on M&A deals for Q1 FY22 to $4.43 million. The company used less than $0.5 million in new debt to finance these acquisitions and mostly relied on cash from operating activities and accumulated cash reserves on its balance sheet. Another acquisition took place on April 11 2022 when BBQ closed the purchase of Barrio Queen, a chain of seven authentic Mexican fine dining restaurants in Phoenix, Arizona, for $28.5 million. BBQ 10-Q BBQ's numerous concepts continue to enjoy high comparable sales figures relative to 2019 and 2021, with a few exceptions. Famous Dave's company-owned restaurants are up 12.6%, whereas Village Inn and Bakers Square are down vs 2019. The next quarters will be very important to watch as they will give investors a good idea if management is successful in turning around these two lagging concepts. Given how high inflation is at the moment, I expect same-store sales to remain high over the next year on a company-wide level. BBQ Investor Relations Website TTM sales have now reached ~$233 million, and are at a multi-decade high. The turnaround is in full swing and management was successful in transforming this failing restaurant chain into a thriving M&A growth machine, while keeping the amount of leverage limited. BBQ finished the last quarter with less than $15 million in total debt, which is relatively low compared to the total amount spent on acquisitions in the previous 24 months. Management now expects revenue of $290 to $310 million for FY22, which is ~9% higher compared to the previous guidance from March 2022. Refinitiv Eikon What's good to see is that operations have benefited from this growth model. The TTM gross profit has now exceeded the 2015 high of ~$35 million and TTM cash from operating activities came close to $23.5 million. According to management, FY22 free cash flow is expected to range from $13.5 to $15.5 million, unchanged from what was communicated in March 2022. Refinitiv Eikon The company has a ~17% TTM gross margin, which remains below the 20% average between 2010 and 2015. It is of course very hard to compare today's situation with the last decade since BBQ has completely changed its strategy and is now focused on growing through acquisitions. This business model will impact the gross margin with every new acquisition. The operating margin is also stable at around ~13%, which is in line with other competitors. Refinitiv Eikon Refinitiv Eikon Valuation In my previous article on BBQ, I argued that the business was fairly priced at ~9.4x EV/EBITDA. Based on 10.6 million shares outstanding, the company has a market cap of approximately $117.6 million. In this part, I have used a DCF model to value the business. The following assumptions have been made in the model: Estimated free cash flow for FY23 of $17 million, slightly below Wall Street estimates of $19 million to provide a conservative intrinsic value figure. A growth rate of 5% until FY26. A 2% terminal growth rate. A 10% discount rate, in line with BBQ's WACC.
Article d’analyse • Jul 02

The Return Trends At BBQ Holdings (NASDAQ:BBQ) Look Promising

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Article d’analyse • May 25

What Does BBQ Holdings, Inc.'s (NASDAQ:BBQ) Share Price Indicate?

BBQ Holdings, Inc. ( NASDAQ:BBQ ), might not be a large cap stock, but it saw significant share price movement during...
Seeking Alpha • Apr 20

BBQ Holdings's Strategy Is Working And The Stock Is Cheap

BBQ is run rating ~$715M in system wide sales yet has an enterprise value of ~$145M. CEO Crivello has quietly taken EBITDA from $4M in 2017 to the current run rate of $27.5M+. BBQ has a battle tested growth algorithm that should drive extraordinary returns for shareholders over the next 5 years - in similar fashion to BBQ's last 5 years. BBQ will likely generate $18.5M+ in royalty and license revenue, which is a highly valuable cash flow stream and alone is worth more than the current stock price. BBQ management has a proven track record and is highly aligned with shareholders.
Seeking Alpha • Mar 25

Time For Some BBQ Holdings

Management has executed an interesting strategy of buying restaurant brands under pressure during the pandemic, with limited debt or equity issuance. The reopening rebound in restaurant sales has been slowed by a jump in gasoline prices during the past year, hopefully soon to reverse. The stock valuation is extremely low, if Wall Street estimates prove close to reality. Share quote gains over the past year have led the sector, with accumulation trends continuing by forward-looking investors.
Article d’analyse • Feb 24

Returns Are Gaining Momentum At BBQ Holdings (NASDAQ:BBQ)

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
Seeking Alpha • Feb 07

BBQ Holdings: Revisiting The Investment Thesis

BBQ continues to be active in the M&A field and recently bought Tahoe Joe's through a bankruptcy auction. BBQ delivered a solid third-quarter and is now on track to generate more than $16 million in operating cash flow in FY21, a level not achieved since 2013. BBQ is attractively priced relative to its peers, assuming BBQ will continue to reach its strategic targets.
Seeking Alpha • Dec 01

BBQ Holdings Is Cooking Up A New Winning Recipe

BBQ Holdings is the new holding company created by Famous Dave’s restaurants. BBQ Holdings is a micro-cap in turnaround. The company is making major changes in structure, innovating sales opportunities, acquiring other brands, cross selling, and taking advantages of synergies to reduce. I see a fair market value of $27.60. There is much room for upside potential if the turnaround is a success.
Article d’analyse • Nov 17

Why BBQ Holdings' (NASDAQ:BBQ) Earnings Are Weaker Than They Seem

Despite posting strong earnings, BBQ Holdings, Inc.'s ( NASDAQ:BBQ ) stock didn't move much over the last week. We...
Seeking Alpha • Sep 19

BBQ Holdings: Fairly Priced Even After Stellar YTD Performance

The company has launched new initiatives that could increase revenue and margins in the near future. BBQ has been very active recently in the M&A field: they have acquired 4 businesses since the start of 2020. The stock is now fairly valued after a stellar YTD performance.
Article d’analyse • Sep 18

The Market Doesn't Like What It Sees From BBQ Holdings, Inc.'s (NASDAQ:BBQ) Earnings Yet

BBQ Holdings, Inc.'s ( NASDAQ:BBQ ) price-to-earnings (or "P/E") ratio of 11.6x might make it look like a buy right now...
Seeking Alpha • Jul 05

BBQ Holdings: Earnings Growth Combined With Multiple Expansion Should Rerate The Stock

BBQ is primarily a royalty income annuity FCF business with negligible capital needs. BBQ has excellent prospects for multi-year double-digit franchise unit and franchise income growth. Earnings estimates should be beat handily. BBQ has additional strategies to fuel growth including adding high-end breakfast/brunch in some concepts as well as a strong balance sheet for M&A led by talented and incentivized capital allocators.

Rendement pour les actionnaires

BBQUS HospitalityUS Marché
7D0.06%0.2%1.1%
1Y8.0%-4.4%28.7%

Rendement vs Industrie: BBQ a dépassé le secteur US Hospitality qui a rapporté -4.4 % au cours de l'année écoulée.

Rendement vs marché: BBQ a dépassé le marché US qui a rapporté 28.7 % au cours de l'année écoulée.

Volatilité des prix

Is BBQ's price volatile compared to industry and market?
BBQ volatility
BBQ Average Weekly Movement14.1%
Hospitality Industry Average Movement7.7%
Market Average Movement7.2%
10% most volatile stocks in US Market16.5%
10% least volatile stocks in US Market3.1%

Cours de l'action stable: Le cours de l'action de BBQ a été volatil au cours des 3 derniers mois par rapport au marché US.

Volatilité au fil du temps: La volatilité hebdomadaire de BBQ ( 14% ) est restée stable au cours de l'année écoulée, mais reste supérieure à 75 % des actions de US.

À propos de l'entreprise

FondéeSalariésPDGSite web
19942,374Jeff Crivellowww.bbq-holdings.com

BBQ Holdings, Inc. Résumé des fondamentaux

Comment les bénéfices et les revenus de BBQ Holdings se comparent-ils à sa capitalisation boursière ?
BBQ statistiques fondamentales
Capitalisation boursièreUS$185.50m
Bénéfices(TTM)US$12.38m
Recettes(TTM)US$267.73m
15.0x
Ratio P/E
0.7x
Ratio P/S

Le site BBQ est-il surévalué ?

Voir Juste valeur et analyse de l'évaluation

Bénéfices et recettes

Principales statistiques de rentabilité tirées du dernier rapport sur les bénéfices (TTM)
BBQ compte de résultat (TTM)
RecettesUS$267.73m
Coût des recettesUS$227.80m
Marge bruteUS$39.93m
Autres dépensesUS$27.55m
Les revenusUS$12.38m

Derniers bénéfices déclarés

Jul 03, 2022

Prochaine date de publication des résultats

s/o

Résultat par action (EPS)1.15
Marge brute14.91%
Marge bénéficiaire nette4.62%
Ratio dettes/capitaux propres34.2%

Quelles ont été les performances à long terme de BBQ?

Voir les performances historiques et les comparaisons

Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2022/09/27 15:41
Cours de l'action en fin de journée2022/09/27 00:00
Les revenus2022/07/03
Revenus annuels2022/01/02

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

BBQ Holdings, Inc. est couverte par 5 analystes. 2 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Conrad LyonB. Riley Securities, Inc.
Brooks O'NeilColliers Securities
Alex FuhrmanCraig-Hallum Capital Group LLC