Twin Hospitality (TWNP) Financials
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 12, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TWNP SEC filings page.
Twin Hospitality (TWNP) reported $343.7M in revenue over the twelve months to Sep 28, 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
Revenue expansion is being overwhelmed by rising costs and cash-consuming reinvestment at Twin Hospitality.
Revenue rose53.3% to$353.8M , but operating margin turned negative, showing that added volume did not cover the heavier cost base. Operating cash flow shifted from$6.0M positive to-$15.0M , so reported expansion was not translating into cash.
Free cash flow fell to
Liabilities exceeded assets by
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Twin Hospitality'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.
Twin Hospitality has an operating margin of -2.4%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 29/100. This is down from 5.6% the prior year.
Twin Hospitality's revenue surged 53.2% year-over-year to $353.8M, reflecting rapid business expansion. This strong growth earns a score of 95/100.
Twin Hospitality's current ratio of 0.52 is below the typical benchmark, resulting in a score of 5/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Twin Hospitality's operations used $15.0M of cash, and capex of $25.1M added to the outflow, for a free cash flow shortfall of $40.2M. This results in a cash flow score of 12/100.
Twin Hospitality scores 0.33, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Twin Hospitality passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Twin Hospitality reported a net loss of $48.2M while operations used $15.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Twin Hospitality reported an operating loss of $8.3M against $46.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Twin Hospitality generated $82.3M in revenue in Q3 2025. This represents a decrease of 1.6% from the same quarter a year earlier. Against the prior quarter it is down 6.3%.
Twin Hospitality's EBITDA was -$9.8M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 520.7% from the same quarter a year earlier. Against the prior quarter it is down 30.0%.
Twin Hospitality reported -$24.5M in net income in Q3 2025. This represents a decrease of 51.0% from the same quarter a year earlier. Against the prior quarter it is down 17.8%.
Twin Hospitality earned -$0.43 per diluted share (EPS) in Q3 2025. This represents a decrease of 34.4% from the same quarter a year earlier. Against the prior quarter it is down 13.2%.
Cash & Balance Sheet
Twin Hospitality recorded an outflow of $7.4M in free cash flow in Q3 2025, representing a cash shortfall after capex. This represents an increase of 14.6% from the same quarter a year earlier. Against the prior quarter it is up 30.0%.
Twin Hospitality held $5.5M in cash against $2.5M in long-term debt as of Q3 2025, with $448.2M of liabilities due within a year.
Not reported for Q3 2025.
Margins & Returns
Twin Hospitality's gross margin was 75.3% in Q3 2025, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Twin Hospitality's operating margin was -16.2% in Q3 2025, reflecting core business profitability. This is down 11.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.0 percentage points.
Twin Hospitality's net profit margin was -29.7% in Q3 2025, showing the share of revenue converted to profit. This is down 10.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.1 percentage points.
Not reported for Q3 2025.
Capital Allocation
Twin Hospitality invested $1.5M in capex in Q3 2025, funding long-term assets and infrastructure. This represents a decrease of 78.6% from the same quarter a year earlier. Against the prior quarter it is down 14.7%.
Not reported for Q3 2025.
Not reported for Q3 2025.
TWNP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $82.3M-1.6% | $87.8M-4.1% | $87.1M-5.4% | $86.5M | $83.7M | $91.6M | $92.1M | N/A |
| Cost of Revenue | $20.3M-2.3% | $21.5M-6.1% | $21.2M-5.2% | $21.2M | $20.8M | $22.9M | $22.4M | N/A |
| Gross Profit | $62.0M-1.4% | $66.3M-3.4% | $65.9M-5.5% | $65.2M | $62.8M | $68.6M | $69.7M | N/A |
| SG&A Expenses | $19.5M+172.1% | $19.9M+188.2% | $6.8M-2.5% | $12.2M | $7.2M | $6.9M | $7.0M | N/A |
| Operating Income | -$13.4M-272.3% | -$11.6M-931.3% | -$1.1M-179.2% | -$7.5M | -$3.6M | $1.4M | $1.3M | N/A |
| EBITDA | -$9.8M-520.7% | -$7.5M-203.9% | $5.0M-28.8% | -$1.5M | $2.3M | $7.2M | $7.1M | N/A |
| Interest Expense | $12.1M-4.2% | $11.5M-4.6% | $10.8M+4.0% | $11.1M | $12.6M | $12.0M | $10.4M | N/A |
| Income Tax | -$738K-7480.0% | -$2.1M-2040.4% | $265K+235.4% | -$8.4M | $10K | -$99K | $79K | N/A |
| Net Income | -$24.5M-51.0% | -$20.8M-93.7% | -$12.1M-31.4% | -$12.0M | -$16.2M | -$10.7M | -$9.2M | N/A |
| EPS (Basic) | -$0.43-34.4% | -$0.38 | -$0.26 | N/A | -$0.32 | N/A | N/A | N/A |
| EPS (Diluted) | -$0.43-34.4% | -$0.38 | -$0.26 | N/A | -$0.32 | N/A | N/A | N/A |
| Diluted Shares (Avg) | 57M+14.3% | 55M | 47M | N/A | 50M | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TWNP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $516.8M | $535.1M | $544.2M | $542.4M-4.1% | N/A | N/A | N/A | $565.6M |
| Current Assets | $28.3M | $34.3M | $35.6M | $28.8M+2.5% | N/A | N/A | N/A | $28.1M |
| Cash & Equivalents | $5.5M | $6.1M | $7.2M | $9.4M+108.6% | N/A | N/A | N/A | $4.5M |
| Accounts Receivable | $2.0M | $2.1M | $2.1M | $3.1M+37.5% | N/A | N/A | N/A | $2.3M |
| Goodwill | $117.2M | $117.2M | $117.2M | $117.2M0.0% | N/A | N/A | N/A | $117.2M |
| Total Liabilities | $608.9M | $613.7M | $646.1M | $627.1M+7.9% | N/A | N/A | N/A | $581.1M |
| Current Liabilities | $448.2M | $57.3M | $56.6M | $55.2M-21.9% | N/A | N/A | N/A | $70.7M |
| Non-Current Liabilities | $160.7M | $556.4M | $589.5M | $571.8M+12.0% | N/A | N/A | N/A | $510.4M |
| Long-Term Debt | $2.5M | $401.1M | $402.8M | $405.0M+21.3% | N/A | N/A | N/A | $334.0M |
| Total Equity | -$92.1M | -$78.6M | -$101.9M-46.3% | -$84.6M-445.5% | N/A | N/A | -$69.6M | -$15.5M |
| Retained Earnings | -$147.1M | -$122.6M | -$101.9M | -$84.6M | N/A | N/A | N/A | $0 |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments.
TWNP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.9M-287.8% | -$8.8M-272.2% | -$5.7M-53.5% | -$7.4M | -$1.5M | -$2.4M | -$3.7M | N/A |
| Depreciation & Amortization | $3.6M-39.3% | $4.1M-30.3% | $6.1M+6.1% | $6.0M | $5.9M | $5.8M | $5.7M | N/A |
| Stock-Based Compensation | $3.4M+1600.0% | $12.6M+6200.0% | $0-100.0% | N/A | $200K | $200K | $101K | N/A |
| Capital Expenditures | $1.5M-78.6% | $1.8M-80.9% | $4.0M+9.1% | $4.8M | $7.2M | $9.5M | $3.7M | N/A |
| Free Cash Flow | -$7.4M+14.6% | -$10.6M+10.1% | -$9.7M-31.5% | -$12.2M | -$8.7M | -$11.8M | -$7.4M | N/A |
| Investing Cash Flow | -$1.5M+78.6% | -$1.8M+80.9% | $434K+111.8% | -$198K | -$7.2M | -$9.5M | -$3.7M | N/A |
| Financing Cash Flow | $525K-95.5% | $3.5M-68.7% | $7.7M-26.3% | $3.9M | $11.7M | $11.2M | $10.5M | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TWNP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.3%+0.2pp | 75.5%+0.5pp | 75.6%-0.1pp | 75.4% | 75.1% | 74.9% | 75.7% | N/A |
| Operating Margin | -16.2%-11.9pp | -13.2%-14.7pp | -1.2%-2.7pp | -8.6% | -4.3% | 1.5% | 1.5% | N/A |
| Net Margin | -29.7%-10.4pp | -23.7%-11.9pp | -13.9%-3.9pp | -13.9% | -19.4% | -11.7% | -10.0% | N/A |
| Return on Assets | -4.7% | -3.9% | -2.2% | -2.2% | N/A | N/A | N/A | N/A |
| Current Ratio | 0.06 | 0.60 | 0.63 | 0.52+0.1x | N/A | N/A | N/A | 0.40 |
| Asset Turnover | 0.16 | 0.16 | 0.16 | 0.16 | N/A | N/A | N/A | N/A |
| FCF Margin | -9.0%+1.4pp | -12.1%+0.8pp | -11.2%-3.1pp | -14.1% | -10.4% | -12.9% | -8.0% | N/A |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Note: Shareholder equity is negative (-$84.6M), 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.
Note: The current ratio is below 1.0 (0.52), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Twin Hospitality TWNP | FY2024 | $353.8M | -$48.2M | -13.6% | $4.1M | 28/100 |
| Dennys Corp DENN | FY2024 | $452.3M | $21.6M | 4.8% | $321.9M | 32/100 |
| Red Robin Gourmet Burgers Inc RRGB | FY2025 | $1.2B | -$23.3M | -1.9% | $160.1M | 22/100 |
| GEN Restaurant Group GENK | FY2025 | $212.5M | -$3.0M | -1.4% | $10.2M | 31/100 |
| The One Grou Ord STKS | FY2025 | $805.7M | -$92.2M | -11.5% | $51.4M | 34/100 |
| TH International Limited THCH | FY2025 | $1.1B | N/A | N/A | $43.2M | — |
Where Twin Hospitality Ranks
Frequently Asked Questions
What is Twin Hospitality's annual revenue?
Twin Hospitality (TWNP) reported $353.8M in total revenue for fiscal year 2024. This represents a 53.2% 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 Twin Hospitality's revenue growing?
Twin Hospitality (TWNP) revenue grew by 53.2% year-over-year, from $230.9M to $353.8M in fiscal year 2024.
Is Twin Hospitality profitable?
No, Twin Hospitality (TWNP) reported a net income of -$48.2M in fiscal year 2024, with a net profit margin of -13.6%.
What is Twin Hospitality's EBITDA?
Twin Hospitality (TWNP) had EBITDA of $15.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Twin Hospitality have?
As of fiscal year 2024, Twin Hospitality (TWNP) had $9.4M in cash and equivalents against $405.0M in long-term debt.
What is Twin Hospitality's gross margin?
Twin Hospitality (TWNP) had a gross margin of 75.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Twin Hospitality's operating margin?
Twin Hospitality (TWNP) had an operating margin of -2.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Twin Hospitality's net profit margin?
Twin Hospitality (TWNP) had a net profit margin of -13.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Twin Hospitality's free cash flow?
Twin Hospitality (TWNP) recorded an outflow of $40.2M in free cash flow during fiscal year 2024. This represents a -125.3% 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 Twin Hospitality's operating cash flow?
Twin Hospitality (TWNP) recorded an outflow of $15.0M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Twin Hospitality's total assets?
Twin Hospitality (TWNP) had $542.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Twin Hospitality's capital expenditures?
Twin Hospitality (TWNP) invested $25.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Twin Hospitality's current ratio?
Twin Hospitality (TWNP) had a current ratio of 0.52 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Twin Hospitality's return on assets (ROA)?
Twin Hospitality (TWNP) had a return on assets of -8.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Twin Hospitality's debt-to-equity ratio negative or not reported?
Twin Hospitality (TWNP) has negative shareholder equity of -$84.6M as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Twin Hospitality's Altman Z-Score?
Twin Hospitality (TWNP) has an Altman Z-Score of 0.33, placing it in the Distress Zone (elevated 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 Twin Hospitality's Piotroski F-Score?
Twin Hospitality (TWNP) has a Piotroski F-Score of 4 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 Twin Hospitality's earnings high quality?
Twin Hospitality (TWNP) reported a net loss of $48.2M while operations used $15.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Twin Hospitality cover its interest payments?
Twin Hospitality (TWNP) reported an operating loss of $8.3M against $46.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Twin Hospitality?
Twin Hospitality (TWNP) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.