Nathans Famous Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Nathans Famous has an operating margin of 24.6%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 23.4% the prior year.
Nathans Famous's revenue grew 6.9% year-over-year to $148.2M, a solid pace of expansion. This earns a growth score of 48/100.
With a current ratio of 2.69, Nathans Famous holds $2.69 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.
Nathans Famous converts 16.9% of revenue into free cash flow ($25.0M). This strong cash generation earns a score of 84/100.
Nathans Famous scores 9.37, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Nathans Famous passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Nathans Famous generates $1.05 in operating cash flow ($25.2M OCF vs $24.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Nathans Famous earns $8.9 in operating income for every $1 of interest expense ($36.5M vs $4.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Nathans Famous (NATH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Nathans Famous generated $148.2M in revenue in fiscal year 2025. This represents an increase of 6.9% from the prior year.
Nathans Famous's EBITDA was $37.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.3% from the prior year.
Nathans Famous generated $25.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 27.1% from the prior year.
Nathans Famous reported $24.0M in net income in fiscal year 2025. This represents an increase of 22.5% from the prior year.
Nathans Famous earned $5.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 22.3% from the prior year.
Nathans Famous held $27.8M in cash against $48.1M in long-term debt as of fiscal year 2025.
Nathans Famous paid $2.00 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Nathans Famous had 4M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.
Nathans Famous's gross margin was 39.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Nathans Famous's operating margin was 24.6% in fiscal year 2025, reflecting core business profitability. This is up 1.2 percentage points from the prior year.
Nathans Famous's net profit margin was 16.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.1 percentage points from the prior year.
Nathans Famous invested $225K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 28.1% from the prior year.
NATH Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.3M-24.9% | $45.7M-2.8% | $47.0M+49.1% | $31.5M-23.3% | $41.1M-8.2% | $44.8M+55.0% | $28.9M-25.4% | $38.7M |
| Cost of Revenue | $23.1M-28.5% | $32.4M+13.9% | $28.4M+45.2% | $19.6M-24.8% | $26.0M+3.1% | $25.2M+41.2% | $17.9M-26.1% | $24.2M |
| Gross Profit | $11.2M-16.0% | $13.3M-28.3% | $18.6M+55.5% | $11.9M-20.8% | $15.1M-22.8% | $19.5M+77.2% | $11.0M-24.3% | $14.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $4.4M+27.3% | $3.5M-12.6% | $4.0M+14.5% | $3.5M+6.1% | $3.3M-18.2% | $4.0M-5.6% | $4.2M+30.3% | $3.2M |
| Operating Income | $5.1M-31.7% | $7.5M-41.3% | $12.8M+89.4% | $6.8M-29.9% | $9.6M-29.9% | $13.7M+167.6% | $5.1M-43.6% | $9.1M |
| Interest Expense | $707K-4.3% | $739K-2.5% | $758K-10.0% | $842K-41.6% | $1.4M+35.9% | $1.1M | N/A | N/A |
| Income Tax | $1.7M-8.7% | $1.8M-45.3% | $3.3M+111.4% | $1.6M-23.9% | $2.1M-41.0% | $3.5M+210.9% | $1.1M-47.6% | $2.2M |
| Net Income | $3.1M-40.7% | $5.2M-41.8% | $8.9M+99.1% | $4.5M-25.6% | $6.0M-35.0% | $9.3M+255.8% | $2.6M-54.4% | $5.7M |
| EPS (Diluted) | $0.75-40.5% | $1.26-41.7% | $2.16+96.4% | $1.10-25.2% | $1.47-35.2% | $2.27+254.7% | $0.64-54.3% | $1.40 |
NATH Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $50.9M-19.0% | $62.9M-0.9% | $63.4M+30.2% | $48.7M-15.6% | $57.7M-1.4% | $58.5M+36.4% | $42.9M-34.6% | $65.6M |
| Current Assets | $43.9M-20.7% | $55.4M-0.2% | $55.5M+38.2% | $40.2M-17.5% | $48.7M-0.6% | $49.0M+50.9% | $32.5M-40.4% | $54.5M |
| Cash & Equivalents | $24.5M-23.7% | $32.2M+19.8% | $26.9M+13.3% | $23.7M-24.0% | $31.2M+20.1% | $26.0M+55.3% | $16.7M-54.8% | $37.0M |
| Inventory | $680K-28.0% | $945K+5.0% | $900K+53.1% | $588K-41.5% | $1.0M+7.9% | $931K+68.1% | $554K-39.8% | $921K |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $95K0.0% | $95K0.0% | $95K0.0% | $95K0.0% | $95K0.0% | $95K0.0% | $95K0.0% | $95K |
| Total Liabilities | $66.2M-3.7% | $68.8M-5.5% | $72.8M+7.5% | $67.7M-14.3% | $79.0M-6.0% | $84.0M+7.9% | $77.9M-22.9% | $101.0M |
| Current Liabilities | $16.1M-9.2% | $17.7M-13.8% | $20.6M+50.7% | $13.7M-15.1% | $16.1M-11.8% | $18.2M+59.6% | $11.4M-21.1% | $14.5M |
| Long-Term Debt | $46.3M-1.2% | $46.9M-1.2% | $47.5M-2.4% | $48.7M-14.9% | $57.2M-4.1% | $59.6M+0.2% | $59.5M-24.9% | $79.2M |
| Total Equity | -$15.3M-158.6% | -$5.9M+36.8% | -$9.3M+50.8% | -$19.0M+10.8% | -$21.3M+16.5% | -$25.5M+27.1% | -$35.0M+1.1% | -$35.4M |
| Retained Earnings | $7.4M-55.3% | $16.6M+23.5% | $13.4M+207.5% | $4.4M+126.5% | $1.9M+193.9% | -$2.1M+81.6% | -$11.2M+4.8% | -$11.7M |
NATH Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.8M-43.4% | $10.2M+4717.3% | -$220K-106.1% | $3.6M-63.1% | $9.8M+96.9% | $5.0M+123.9% | $2.2M-75.8% | $9.2M |
| Capital Expenditures | $56K-65.2% | $161K+40.0% | $115K+180.5% | $41K-53.9% | $89K+117.1% | $41K-44.6% | $74K-22.9% | $96K |
| Free Cash Flow | $5.7M-43.0% | $10.0M+3084.2% | -$335K-109.3% | $3.6M-63.2% | $9.7M+96.8% | $5.0M+129.7% | $2.2M-76.4% | $9.1M |
| Investing Cash Flow | -$56K+65.2% | -$161K-40.0% | -$115K-180.5% | -$41K+53.9% | -$89K-117.1% | -$41K+44.6% | -$74K+22.9% | -$96K |
| Financing Cash Flow | -$13.3M-184.2% | -$4.7M-681.5% | -$600K+94.6% | -$11.1M-145.3% | -$4.5M | $0+100.0% | -$22.4M-449.1% | -$4.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
NATH Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.6%+3.4pp | 29.1%-10.4pp | 39.5%+1.6pp | 37.9%+1.2pp | 36.7%-6.9pp | 43.6%+5.5pp | 38.1%+0.6pp | 37.6% |
| Operating Margin | 14.9%-1.5pp | 16.4%-10.8pp | 27.2%+5.8pp | 21.4%-2.0pp | 23.4%-7.3pp | 30.7%+12.9pp | 17.8%-5.7pp | 23.5% |
| Net Margin | 9.0%-2.4pp | 11.4%-7.6pp | 19.0%+4.8pp | 14.2%-0.4pp | 14.7%-6.0pp | 20.7%+11.7pp | 9.0%-5.7pp | 14.7% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 6.0%-2.2pp | 8.3%-5.8pp | 14.1%+4.9pp | 9.2%-1.2pp | 10.4%-5.4pp | 15.8%+9.8pp | 6.1%-2.6pp | 8.7% |
| Current Ratio | 2.73-0.4 | 3.12+0.4 | 2.70-0.2 | 2.94-0.1 | 3.03+0.3 | 2.69-0.2 | 2.84-0.9 | 3.77 |
| Debt-to-Equity | -3.03+4.9 | -7.95-2.9 | -5.08-2.5 | -2.56+0.1 | -2.69-0.3 | -2.34-0.6 | -1.70+0.5 | -2.24 |
| FCF Margin | 16.6%-5.3pp | 21.9%+22.6pp | -0.7%-12.1pp | 11.4%-12.3pp | 23.7%+12.6pp | 11.1%+3.6pp | 7.5%-16.1pp | 23.5% |
Note: Shareholder equity is negative (-$16.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Nathans Famous's annual revenue?
Nathans Famous (NATH) reported $148.2M in total revenue for fiscal year 2025. This represents a 6.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nathans Famous's revenue growing?
Nathans Famous (NATH) revenue grew by 6.9% year-over-year, from $138.6M to $148.2M in fiscal year 2025.
Is Nathans Famous profitable?
Yes, Nathans Famous (NATH) reported a net income of $24.0M in fiscal year 2025, with a net profit margin of 16.2%.
What is Nathans Famous's earnings per share (EPS)?
Nathans Famous (NATH) reported diluted earnings per share of $5.87 for fiscal year 2025. This represents a 22.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Nathans Famous's EBITDA?
Nathans Famous (NATH) had EBITDA of $37.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nathans Famous have?
As of fiscal year 2025, Nathans Famous (NATH) had $27.8M in cash and equivalents against $48.1M in long-term debt.
What is Nathans Famous's gross margin?
Nathans Famous (NATH) had a gross margin of 39.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nathans Famous's operating margin?
Nathans Famous (NATH) had an operating margin of 24.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Nathans Famous's net profit margin?
Nathans Famous (NATH) had a net profit margin of 16.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Nathans Famous pay dividends?
Yes, Nathans Famous (NATH) paid $2.00 per share in dividends during fiscal year 2025.
What is Nathans Famous's free cash flow?
Nathans Famous (NATH) generated $25.0M in free cash flow during fiscal year 2025. This represents a 27.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nathans Famous's operating cash flow?
Nathans Famous (NATH) generated $25.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Nathans Famous's total assets?
Nathans Famous (NATH) had $53.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Nathans Famous's capital expenditures?
Nathans Famous (NATH) invested $225K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Nathans Famous have outstanding?
Nathans Famous (NATH) had 4M shares outstanding as of fiscal year 2025.
What is Nathans Famous's current ratio?
Nathans Famous (NATH) had a current ratio of 2.69 as of fiscal year 2025, which is generally considered healthy.
What is Nathans Famous's debt-to-equity ratio?
Nathans Famous (NATH) had a debt-to-equity ratio of -2.91 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nathans Famous's return on assets (ROA)?
Nathans Famous (NATH) had a return on assets of 44.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Nathans Famous's debt-to-equity ratio negative or unusual?
Nathans Famous (NATH) has negative shareholder equity of -$16.5M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Nathans Famous's Altman Z-Score?
Nathans Famous (NATH) has an Altman Z-Score of 9.37, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Nathans Famous's Piotroski F-Score?
Nathans Famous (NATH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nathans Famous's earnings high quality?
Nathans Famous (NATH) has an earnings quality ratio of 1.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Nathans Famous cover its interest payments?
Nathans Famous (NATH) has an interest coverage ratio of 8.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Nathans Famous?
Nathans Famous (NATH) scores 80 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.