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.

Rave Restaurant Financials

RAVE

Source SEC Filings (10-K/10-Q) Updated Mar 29, 2026 Currency USD FYE June

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).

Rhea AI RAVE FY2025 2026-05-07

Low reinvestment needs and shrinking liabilities show a small company increasingly monetizing a steady revenue base through cash, not scale.

From FY2022 to FY2025, revenue only moved from $10.7M to $12.0M. Over the same span, free cash flow rose from $1.3M to $3.3M, pointing to overhead discipline and low capital intensity rather than broad sales growth; the improvement is coming from better cash extraction, not a much larger operating footprint.

FY2025 net income of $2.7M turned into operating cash flow of $3.4M, so earnings quality looks better than the income statement alone suggests. Capital spending was just $56K, which means ongoing operations are not demanding much cash merely to stay in place, leaving more cash available after the bills are paid.

Liabilities fell from $9.2M in FY2020 to $2.4M in FY2025, reducing how much of the business is claimed by creditors. Equity rebuilt from $503K to $14.2M, leaving a more self-financed balance sheet and making recent capital returns look funded by internally generated resources rather than by balance-sheet strain.

Financial Health Signals

Financial Profile 66/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Rave Restaurant's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

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 44/100.

Leverage

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 99/100, 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

Rave Restaurant converts 27.7% of revenue into free cash flow ($3.3M). This strong cash generation earns a score of 83/100.

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 69/100. 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.

Key Financial Metrics

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Earnings & Revenue

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

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 & Balance Sheet

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.

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.

Margins & Returns

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.

Capital Allocation

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	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$3.2M+6.0%	$3.0M-5.3%	$3.2M+1.9%	$3.2M+6.3%	$3.0M+3.4%	$2.9M-5.9%	$3.0M	N/A
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-3.4%	$1.5M+10.2%	$1.4M+18.0%	$1.2M-11.0%	$1.3M-0.1%	$1.3M-7.5%	$1.4M	N/A
Operating Income	$957K+29.0%	$742K-1.3%	$752K	N/A	$855K+28.8%	$664K+9.0%	$609K	N/A
Interest Expense	$95K+10.5%	$86K	N/A	$108K+40.3%	$77K-11.5%	$87K+6.1%	$82K	N/A
Income Tax	$255K+24.4%	$205K-0.5%	$206K-45.4%	$377K+65.4%	$228K+58.3%	$144K-14.8%	$169K	N/A
Net Income	$800K+25.6%	$637K-1.2%	$645K-23.8%	$847K+17.3%	$722K+18.9%	$607K+15.4%	$526K	N/A
EPS (Diluted)	$0.06+50.0%	$0.04-20.0%	$0.05	N/A	$0.05+25.0%	$0.040.0%	$0.04	N/A

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	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$18.6M+5.9%	$17.5M+3.2%	$17.0M+2.7%	$16.6M+5.4%	$15.7M-2.5%	$16.1M-1.0%	$16.3M+2.9%	$15.8M
Current Assets	$14.4M+10.4%	$13.0M+6.4%	$12.2M+6.4%	$11.5M+12.1%	$10.2M-1.0%	$10.4M+0.9%	$10.3M+7.6%	$9.5M
Cash & Equivalents	$1.1M+83.5%	$624K-55.3%	$1.4M-51.1%	$2.9M+289.5%	$734K-74.4%	$2.9M+107.6%	$1.4M-52.1%	$2.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.7M+26.0%	$1.3M+22.7%	$1.1M-7.7%	$1.2M-4.1%	$1.2M+9.5%	$1.1M-18.3%	$1.4M-3.3%	$1.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.1M+6.1%	$2.0M-7.2%	$2.2M-9.8%	$2.4M+1.7%	$2.4M+1.2%	$2.3M-21.7%	$3.0M-4.3%	$3.1M
Current Liabilities	$1.7M+8.8%	$1.5M-5.3%	$1.6M-7.2%	$1.7M+10.5%	$1.6M+9.4%	$1.4M-27.9%	$2.0M-1.0%	$2.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$16.4M+5.9%	$15.5M+4.7%	$14.8M+4.8%	$14.2M+6.0%	$13.3M-3.1%	$13.8M+3.6%	$13.3M+4.7%	$12.7M
Retained Earnings	$9.7M+9.0%	$8.9M+7.7%	$8.3M+8.5%	$7.6M+12.5%	$6.8M+11.9%	$6.0M+11.2%	$5.4M+10.7%	$4.9M

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	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	$1.1M+271.2%	$306K-49.7%	$608K-49.0%	$1.2M+24.1%	$961K+35.2%	$711K+34.2%	$530K	N/A
Capital Expenditures	$32K+255.6%	$9K+12.5%	$8K-33.3%	$12K	$0-100.0%	$44K	$0	N/A
Free Cash Flow	$1.1M+271.7%	$297K-50.5%	$600K-49.2%	$1.2M+22.9%	$961K+44.1%	$667K+25.8%	$530K	N/A
Investing Cash Flow	-$615K+43.0%	-$1.1M+47.9%	-$2.1M-322.3%	$931K+149.2%	-$1.9M-297.4%	$959K+147.2%	-$2.0M	N/A
Financing Cash Flow	$0	N/A	N/A	$1K+100.1%	-$1.2M	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$1.2M	N/A	N/A	-$1K	N/A	N/A	N/A	N/A

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%+868.1pp	-841.5%-871.9pp	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	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	29.7%+5.3pp	24.4%+1.0pp	23.4%	N/A	28.8%+5.7pp	23.1%+3.2pp	20.0%	N/A
Net Margin	24.8%+3.9pp	20.9%+0.9pp	20.1%-6.8pp	26.9%+2.5pp	24.3%+3.2pp	21.2%+3.9pp	17.3%	N/A
Return on Equity	4.9%+0.8pp	4.1%-0.2pp	4.3%-1.6pp	6.0%+0.6pp	5.4%+1.0pp	4.4%+0.5pp	4.0%	N/A
Return on Assets	4.3%+0.7pp	3.6%-0.2pp	3.8%-1.3pp	5.1%+0.5pp	4.6%+0.8pp	3.8%+0.5pp	3.2%	N/A
Current Ratio	8.63+0.1	8.50+0.9	7.57+1.0	6.61+0.1	6.51-0.7	7.19+2.1	5.13+0.4	4.72
Debt-to-Equity	0.130.0	0.13-0.0	0.15-0.0	0.170.0	0.180.0	0.17-0.1	0.22-0.0	0.25
FCF Margin	34.3%+24.5pp	9.8%-8.9pp	18.7%-18.8pp	37.4%+5.0pp	32.4%+9.2pp	23.3%+5.9pp	17.4%	N/A

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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 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 to 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 66 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.