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BBQ Holdings, Inc.NasdaqGS:BBQ 주식 보고서

시가총액 US$185.5m
주가
n/a
내 적정 가치
해당 없음
1Y8.0%
7D0.06%
1D
포트폴리오 가치
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BBQ Holdings, Inc.

NasdaqGS:BBQ 주식 리포트

시가총액: 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) 주식 개요

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. 자세히 보기

BBQ 펀더멘털 분석
스노우플레이크 점수
가치 평가3/6
미래 성장3/6
과거 실적1/6
재무 건전성4/6
배당0/6

강점

공정 가치 추정치보다 낮은 57.7% 에서 거래

수익은 매년 15.35% 증가할 것으로 예상됩니다.

위험 분석

재무 결과에 영향을 미치는 대규모 일회성 항목

지난 1년 동안 주주가 희석되었습니다.

이익 마진 (4.6%)이 지난해 (9.1%)보다 낮습니다.

지난 3개월 동안 주가 변동성이 US 시장과 비교해 높았습니다.


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BBQ Holdings, Inc. 경쟁사

가격 이력 및 성과

BBQ Holdings 주가의 최고가, 최저가 및 변동 요약
과거 주가
현재 주가US$17.24
52주 최고가US$17.56
52주 최저가US$9.95
베타1.63
1개월 변동0.41%
3개월 변동60.52%
1년 변동8.02%
3년 변동248.97%
5년 변동378.89%
IPO 이후 변동118.92%

최근 뉴스 및 업데이트

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.
분석 기사 • 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...
분석 기사 • 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.
분석 기사 • 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...
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.

주주 수익률

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

수익률 대 산업: BBQ은 지난 1년 동안 -4.4%의 수익을 기록한 US Hospitality 산업보다 더 좋은 성과를 냈습니다.

수익률 대 시장: BBQ은 지난 1년 동안 28.7%를 기록한 US 시장보다 더 좋은 성과를 냈습니다.

주가 변동성

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%

안정적인 주가: BBQ의 주가는 지난 3개월 동안 US 시장보다 변동성이 컸습니다.

시간에 따른 변동성: BBQ의 주간 변동성(14%)은 지난 1년 동안 안정적이었지만 US 종목 중 상위 75%보다 높습니다.

회사 소개

설립직원 수CEO웹사이트
19942,374Jeff Crivellowww.bbq-holdings.com

BBQ Holdings, Inc. 기초 지표 요약

BBQ Holdings의 순이익과 매출은 시가총액과 어떻게 비교됩니까?
BBQ 기초 통계
시가총액US$185.50m
순이익 (TTM)US$12.38m
매출 (TTM)US$267.73m
15.0x
주가수익비율(P/E)
0.7x
주가매출비율(P/S)

BBQ는 고평가되어 있습니까?

공정 가치 및 평가 분석 보기

순이익 및 매출

최근 실적 보고서(TTM)의 주요 수익성 지표
BBQ 손익계산서 (TTM)
매출US$267.73m
매출원가US$227.80m
총이익US$39.93m
기타 비용US$27.55m
순이익US$12.38m

최근 보고된 실적

Jul 03, 2022

다음 실적 발표일

해당 없음

주당순이익(EPS)1.15
총이익률14.91%
순이익률4.62%
부채/자본 비율34.2%

BBQ의 장기 실적은 어땠습니까?

과거 실적 및 비교 보기

기업 분석 및 재무 데이터 상태

데이터최종 업데이트 (UTC 시간)
기업 분석2022/09/27 11:36
종가2022/09/27 00:00
수익2022/07/03
연간 수익2022/01/02

데이터 소스

당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.

패키지데이터기간미국 소스 예시 *
기업 재무제표10년
  • 손익계산서
  • 현금흐름표
  • 대차대조표
분석가 컨센서스 추정치+3년
  • 재무 예측
  • 분석가 목표주가
시장 가격30년
  • 주가
  • 배당, 분할 및 기타 조치
지분 구조10년
  • 주요 주주
  • 내부자 거래
경영진10년
  • 리더십 팀
  • 이사회
주요 개발10년
  • 회사 공시

* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.

별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.

분석 모델 및 스노우플레이크

이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.

Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.

산업 및 섹터 지표

산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.

분석가 소스

BBQ Holdings, Inc.는 5명의 분석가가 다루고 있습니다. 이 중 2명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.

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