Rave Restaurant Financials

RAVE

Source SEC Filings (10-K/10-Q) Updated Dec 28, 2025 Currency USD FYE June

Financial Health Signals

Financial Profile 82/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Rave Restaurant's revenue grew a modest 1.3% year-over-year to $12.0M. This slow but positive growth earns a score of 32/100.

Leverage

100

Rave Restaurant carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 6.61, Rave Restaurant holds $6.61 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

100

Rave Restaurant converts 27.7% of revenue into free cash flow ($3.3M). This strong cash generation earns a score of 100/100.

Returns

Rave Restaurant earns a strong 19.1% return on equity (ROE), meaning it generates $19 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 76/100. This is up from 15.5% the prior year.

Piotroski F-Score Neutral

5/9

Rave Restaurant passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.26x

For every $1 of reported earnings, Rave Restaurant generates $1.26 in operating cash flow ($3.4M OCF vs $2.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Rave Restaurant (RAVE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).

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Key Financial Metrics

Revenue

$12.0M

YoY+1.3%

5Y CAGR-4.5%

10Y CAGR+75.7%

Rave Restaurant generated $12.0M in revenue in fiscal year 2025. This represents an increase of 1.3% from the prior year.

EBITDA

N/A

Free Cash Flow

$3.3M

YoY+20.3%

Rave Restaurant generated $3.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 20.3% from the prior year.

Net Income

$2.7M

YoY+67.5%

5Y CAGR+7.2%

10Y CAGR+146.8%

Rave Restaurant reported $2.7M in net income in fiscal year 2025. This represents an increase of 67.5% from the prior year.

EPS (Diluted)

$0.19

YoY+90.0%

5Y CAGR+7.9%

Rave Restaurant earned $0.19 per diluted share (EPS) in fiscal year 2025. This represents an increase of 90.0% from the prior year.

Cash & Debt

$2.9M

YoY-46.3%

5Y CAGR+15.6%

10Y CAGR+133.6%

Rave Restaurant held $2.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

14M

YoY+0.4%

5Y CAGR-1.1%

Rave Restaurant had 14M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

22.4%

YoY+8.9pp

5Y CAGR+9.8pp

10Y CAGR+21.7pp

Rave Restaurant's net profit margin was 22.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 8.9 percentage points from the prior year.

Return on Equity

19.1%

YoY+3.6pp

5Y CAGR-11.3pp

10Y CAGR+14.0pp

Rave Restaurant's ROE was 19.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$1.2M

YoY-75.8%

Rave Restaurant spent $1.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 75.8% from the prior year.

Capital Expenditures

$56K

YoY-13.8%

5Y CAGR-44.7%

Rave Restaurant invested $56K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.8% from the prior year.

RAVE Income Statement

Metric	FY25	FY23	FY22	FY21	FY20	FY18
Revenue	$12.0M+1.3%	$11.9M+11.2%	$10.7M+24.4%	$8.6M-14.3%	$10.0M-33.7%	$15.1M
Cost of Revenue	N/A	$0-100.0%	$1K-99.6%	$264K-39.9%	$439K-88.0%	$3.7M
Gross Profit	N/A	$11.9M+11.2%	$10.7M+28.4%	$8.3M-13.1%	$9.6M-16.4%	$11.5M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$5.2M-5.0%	$5.5M+0.8%	$5.4M+15.6%	$4.7M-14.4%	$5.5M-27.6%	$7.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$354K+35300.0%	$1K-98.4%	$61K-33.7%	$92K-3.2%	$95K-48.1%	$183K
Income Tax	$918K+70.9%	$537K+109.5%	-$5.7M-19406.9%	-$29K-100.7%	$4.1M+222.8%	-$3.3M
Net Income	$2.7M+67.5%	$1.6M-79.9%	$8.0M+427.8%	$1.5M+135.9%	-$4.2M-321.4%	$1.9M
EPS (Diluted)	$0.19+90.0%	$0.10-77.8%	$0.45+400.0%	$0.09+132.1%	$-0.28-315.4%	$0.13

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Revenue	$3.0M-5.3%	$3.2M+8.3%	$3.0M+3.4%	$2.9M-5.9%	$3.0M+3.0%	$3.0M+7.9%	$2.7M-11.0%	$3.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.5M+10.2%	$1.4M+5.8%	$1.3M-0.9%	$1.3M-7.5%	$1.4M+11.6%	$1.3M-5.1%	$1.3M+1.7%	$1.3M
Operating Income	$742K-1.3%	$752K	N/A	$664K+9.0%	$609K	N/A	N/A	N/A
Interest Expense	$86K	N/A	$84K-3.4%	$87K+6.1%	$82K+82.2%	$45K	$0	$0
Income Tax	$205K-0.5%	$206K-9.6%	$228K+58.3%	$144K-14.8%	$169K-15.5%	$200K+1638.5%	-$13K-109.8%	$132K
Net Income	$637K-1.2%	$645K-10.7%	$722K+18.9%	$607K+15.4%	$526K-19.6%	$654K+18.3%	$553K+43.3%	$386K
EPS (Diluted)	$0.04-20.0%	$0.050.0%	$0.05+25.0%	$0.040.0%	$0.040.0%	$0.040.0%	$0.04+33.3%	$0.03

RAVE Balance Sheet

Metric	FY25	FY23	FY22	FY21	FY20	FY18
Total Assets	$16.6M+16.3%	$14.2M-23.1%	$18.5M+38.7%	$13.3M+37.5%	$9.7M-11.7%	$11.0M
Current Assets	$11.5M+68.2%	$6.8M-32.1%	$10.1M-3.0%	$10.4M+110.3%	$4.9M+4.1%	$4.7M
Cash & Equivalents	$2.9M-46.3%	$5.3M-31.0%	$7.7M-7.3%	$8.3M+180.6%	$3.0M+114.2%	$1.4M
Inventory	N/A	N/A	N/A	N/A	$0-100.0%	$6K
Accounts Receivable	$1.2M+2.3%	$1.1M-42.2%	$2.0M+117.5%	$911K-5.6%	$965K-36.4%	$1.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.4M-37.5%	$3.8M-24.6%	$5.1M-32.9%	$7.6M-17.3%	$9.2M+96.3%	$4.7M
Current Liabilities	$1.7M-20.8%	$2.2M-23.9%	$2.9M-36.2%	$4.5M+80.2%	$2.5M+27.0%	$2.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$14.2M+36.2%	$10.4M-22.5%	$13.4M+133.9%	$5.7M+1039.8%	$503K-92.0%	$6.3M
Retained Earnings	$7.6M+212.2%	$2.4M+195.3%	$826K+111.5%	-$7.2M+17.4%	-$8.7M-249.6%	-$2.5M

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Total Assets	$17.5M+3.2%	$17.0M+8.2%	$15.7M-2.5%	$16.1M-1.0%	$16.3M+8.9%	$15.0M+5.6%	$14.2M-3.9%	$14.7M
Current Assets	$13.0M+6.4%	$12.2M+19.3%	$10.2M-1.0%	$10.4M+0.9%	$10.3M+24.9%	$8.2M+15.6%	$7.1M-6.4%	$7.6M
Cash & Equivalents	$624K-55.3%	$1.4M+90.3%	$734K-74.4%	$2.9M+107.6%	$1.4M-78.1%	$6.3M+19.1%	$5.3M-10.7%	$5.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.3M+22.7%	$1.1M-11.5%	$1.2M+9.5%	$1.1M-18.3%	$1.4M+2.0%	$1.3M+12.2%	$1.2M+11.3%	$1.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.0M-7.2%	$2.2M-8.3%	$2.4M+1.2%	$2.3M-21.7%	$3.0M-5.4%	$3.2M+3.2%	$3.1M-21.0%	$3.9M
Current Liabilities	$1.5M-5.3%	$1.6M+2.5%	$1.6M+9.4%	$1.4M-27.9%	$2.0M+3.0%	$1.9M+14.3%	$1.7M-30.0%	$2.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$15.5M+4.7%	$14.8M+11.2%	$13.3M-3.1%	$13.8M+3.6%	$13.3M+12.7%	$11.8M+6.3%	$11.1M+2.3%	$10.9M
Retained Earnings	$8.9M+7.7%	$8.3M+22.0%	$6.8M+11.9%	$6.0M+11.2%	$5.4M+34.9%	$4.0M+19.4%	$3.4M+19.6%	$2.8M

RAVE Cash Flow Statement

Metric	FY25	FY23	FY22	FY21	FY20	FY18
Operating Cash Flow	$3.4M+19.5%	$2.8M+105.3%	$1.4M-6.8%	$1.5M+512.5%	-$360K+90.8%	-$3.9M
Capital Expenditures	$56K-13.8%	$65K-1.5%	$66K-68.9%	$212K+278.6%	$56K-94.8%	$1.1M
Free Cash Flow	$3.3M+20.3%	$2.8M+110.6%	$1.3M+3.5%	$1.3M+406.0%	-$416K+91.7%	-$5.0M
Investing Cash Flow	-$2.0M-796.9%	-$227K-167.2%	$338K+242.0%	-$238K-455.2%	$67K-90.5%	$708K
Financing Cash Flow	-$1.4M+72.3%	-$5.0M-115.1%	-$2.3M-160.0%	$3.9M+288.4%	$999K-75.8%	$4.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$1.2M-75.8%	$5.0M+872.5%	$512K	$0	N/A	N/A

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Operating Cash Flow	$306K-49.7%	$608K-34.4%	$927K+30.4%	$711K+34.2%	$530K-48.3%	$1.0M+417.6%	-$323K-151.4%	$628K
Capital Expenditures	$9K+12.5%	$8K	$0-100.0%	$44K	$0-100.0%	$30K+87.5%	$16K-27.3%	$22K
Free Cash Flow	$297K-50.5%	$600K-35.3%	$927K+39.0%	$667K+25.8%	$530K-46.8%	$996K+393.8%	-$339K-155.9%	$606K
Investing Cash Flow	-$1.1M+47.9%	-$2.1M-11.4%	-$1.9M-293.8%	$959K+147.2%	-$2.0M-14421.4%	-$14K-250.0%	-$4K+66.7%	-$12K
Financing Cash Flow	$1K	N/A	-$1.2M	N/A	N/A	$0+100.0%	-$311K	$0
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	-$1K	N/A	N/A	N/A	N/A	$0	$0	$0

RAVE Financial Ratios

Metric	FY25	FY23	FY22	FY21	FY20	FY18
Gross Margin	N/A	100.0%0.0pp	100.0%+3.1pp	96.9%+1.3pp	95.6%+19.8pp	75.8%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	22.4%+8.9pp	13.6%-61.5pp	75.0%+57.3pp	17.7%+59.9pp	-42.2%-54.9pp	12.7%
Return on Equity	19.1%+3.6pp	15.5%-44.3pp	59.8%+33.3pp	26.5%	N/A	30.3%
Return on Assets	16.3%+5.0pp	11.3%-32.0pp	43.3%+31.9pp	11.4%+55.0pp	-43.6%-61.0pp	17.4%
Current Ratio	6.61+3.5	3.11-0.4	3.48+1.2	2.29+0.3	1.96-0.4	2.39
Debt-to-Equity	0.17-0.2	0.37-0.0	0.38-0.9	1.33-17.0	18.29+17.6	0.74
FCF Margin	27.7%+4.4pp	23.4%+11.0pp	12.3%-2.5pp	14.8%+19.0pp	-4.2%+28.8pp	-33.0%

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	24.4%+1.0pp	23.4%	N/A	23.1%+3.2pp	20.0%	N/A	N/A	N/A
Net Margin	20.9%+0.9pp	20.1%-4.3pp	24.3%+3.2pp	21.2%+3.9pp	17.3%-4.8pp	22.1%+1.9pp	20.1%+7.6pp	12.5%
Return on Equity	4.1%-0.2pp	4.3%-1.1pp	5.4%+1.0pp	4.4%+0.5pp	4.0%-1.6pp	5.5%+0.6pp	5.0%+1.4pp	3.6%
Return on Assets	3.6%-0.2pp	3.8%-0.8pp	4.6%+0.8pp	3.8%+0.5pp	3.2%-1.1pp	4.4%+0.5pp	3.9%+1.3pp	2.6%
Current Ratio	8.50+0.9	7.57+1.1	6.51-0.7	7.19+2.1	5.13+0.9	4.24+0.0	4.19+1.1	3.13
Debt-to-Equity	0.13-0.0	0.15-0.0	0.180.0	0.17-0.1	0.22-0.0	0.270.0	0.28-0.1	0.36
FCF Margin	9.8%-8.9pp	18.7%-12.6pp	31.3%+8.0pp	23.3%+5.9pp	17.4%-16.2pp	33.6%+46.0pp	-12.3%-32.0pp	19.6%

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Frequently Asked Questions

What is Rave Restaurant's annual revenue?

Rave Restaurant (RAVE) reported $12.0M in total revenue for fiscal year 2025. This represents a 1.3% 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 Rave Restaurant's revenue growing?

Rave Restaurant (RAVE) revenue grew by 1.3% year-over-year, from $11.9M to $12.0M in fiscal year 2025.

Is Rave Restaurant profitable?

Yes, Rave Restaurant (RAVE) reported a net income of $2.7M in fiscal year 2025, with a net profit margin of 22.4%.

What is Rave Restaurant's earnings per share (EPS)?

Rave Restaurant (RAVE) reported diluted earnings per share of $0.19 for fiscal year 2025. This represents a 90.0% 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 Rave Restaurant's net profit margin?

Rave Restaurant (RAVE) had a net profit margin of 22.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Rave Restaurant's return on equity (ROE)?

Rave Restaurant (RAVE) has a return on equity of 19.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Rave Restaurant's free cash flow?

Rave Restaurant (RAVE) generated $3.3M in free cash flow during fiscal year 2025. This represents a 20.3% 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 Rave Restaurant's operating cash flow?

Rave Restaurant (RAVE) generated $3.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Rave Restaurant's total assets?

Rave Restaurant (RAVE) had $16.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Rave Restaurant's capital expenditures?

Rave Restaurant (RAVE) invested $56K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Rave Restaurant buy back shares?

Yes, Rave Restaurant (RAVE) spent $1.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Rave Restaurant have outstanding?

Rave Restaurant (RAVE) had 14M shares outstanding as of fiscal year 2025.

What is Rave Restaurant's current ratio?

Rave Restaurant (RAVE) had a current ratio of 6.61 as of fiscal year 2025, which is generally considered healthy.

What is Rave Restaurant's debt-to-equity ratio?

Rave Restaurant (RAVE) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Rave Restaurant's return on assets (ROA)?

Rave Restaurant (RAVE) had a return on assets of 16.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Rave Restaurant's Piotroski F-Score?

Rave Restaurant (RAVE) has a Piotroski F-Score of 5 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 Rave Restaurant's earnings high quality?

Rave Restaurant (RAVE) has an earnings quality ratio of 1.26x, 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.

How financially healthy is Rave Restaurant?

Rave Restaurant (RAVE) scores 82 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.