Company Analysis

BT Brands, Inc. (BTBD)

Nasdaq: BTBD · Retail-Eating Places · Minnetonka, MN · filing with the SEC since 2017
Grade4.0
◀ Past 3.6● Present 4.0▶ Future 4.4
4 est.

The grade of BT Brands, Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.0/10
◀ Past3.625% of the headline
● Present4.045% of the headline
▶ Future4.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 5 read as filed from the record and 4 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.6/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
1.3/10

Has it survived what it has been through?

8 warning events since 2017; the latest 2026-11-09.

weight 45% of this tense · 13th percentile among 43 sector filers · read for itself

From the record

BT Brands, Inc.'s filings since 2017 show 8 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2026-01-20); a late-report notice (Form NT 10-K or NT 10-Q, 7 times, the latest 2026-11-09) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
5.5/10

What has it actually done, year after year?

+13.2% a year over 8 filed years; profitable in 3 of 8.

weight 33% of this tense · 55th percentile among 42 sector filers · read for its customers

From the record

BT Brands, Inc.'s 8 filed years say what it did: revenue went from $7 million in fiscal 2018 to $15 million in fiscal 2024, up 13.2% a year; it rose in 6 of 7 years; the deepest fall was 8% from fiscal 2018 to fiscal 2019; net income was positive in 3 of 8 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span13.2%top 27% of its family
  • the share of years revenue rosetop 32% of its family
  • the share of filed years with a profitbottom 18% of its family
  • the deepest fall from a revenue peak8.1%top 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
5.6/10

How has it treated the people who own it?

SI estimate 5.6/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 38 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 38 members with one.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
family median, 38 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: BT Brands, Inc.'s shareholder treatment is put at 5.6 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 38 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.0/1045% of the headline grade · 1 of 3 filed, 2 estimated

Financial health

SI estimate
4.5/10

Is it financially healthy right now?

SI estimate 4.5/10, confidence 20 of 100 (family median).

weight 45% of this tense · 50th percentile among 42 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
Fewer than two of the four checks can be read, so the desk assumes the typical reading of its industry family, the median of 42 members with one.
What the record cannot read
Fewer than two of the four checks can be read.
How it was reasoned
family median, 42 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: BT Brands, Inc.'s financial health is put at 4.5 of 10 with a confidence of 20 of 100, because fewer than two of the four checks can be read, so the desk assumes the typical reading of its industry family, the median of 42 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

Industry position

as filed
2.6/10

How strong is its position in its industry?

bottom 26% of 43 in its family; net margin -15.6%.

weight 33% of this tense · 26th percentile among 43 sector filers · read for its customers

From the record

BT Brands, Inc.'s standing among 43 graded names in its industry family: revenue of $15 million in fiscal 2024 ranks in the bottom 6% by size; a net margin of -15.6% ranks in the bottom 13%; revenue growth of 8.5% a year over the last 3 filed years ranks in the top 41% (its annual reports).

What it rests on

  • revenue against the family$14.8Mbottom 6% of its family
  • net margin-15.6%bottom 13% of its family
  • three-year revenue growth8.5%top 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 34 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 34 members with one.
What the record cannot read
No officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned
family median, 34 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: BT Brands, Inc.'s leadership is put at 5.0 of 10 with a confidence of 20 of 100, because no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 34 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

SI estimate
6.0/10

How much room does it have to grow?

SI estimate 6.0/10, confidence 35 of 100 (one part).

weight 22% of this tense · 60th percentile among 43 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, cash less debt against assets, which ranks in the top 40% of 43 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
What the record cannot read
The record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
How it was reasoned
one part: cash less debt against assets, the one part on file, ranked among 43 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: BT Brands, Inc.'s room to expand is put at 6.0 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the top 40% of 43 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.

Growth drivers

as filed
5.3/10

What could actually drive growth from here?

top 47% of 42 in its family for growth drivers.

weight 45% of this tense · 53rd percentile among 42 sector filers · read for its customers

From the record

BT Brands, Inc.'s growth drivers, from the filed years to fiscal 2024: revenue grew 8.5% a year over the last three filed years against 13.2% over all 8, slowing (bottom 15% of its family); the newest year grew 5.3% (top 49%); capital spending grew 33.6% a year (top 8%) (its annual reports). BT Brands, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-4.7 points a yearbottom 15% of its family
  • the newest year's revenue growth5.3%top 49% of its family
  • three-year growth of capital spending33.6%top 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
2.3/10

Did its newest year beat what its own record pointed to?

bottom 23% of 39 in its family for expectations against reality.

weight 33% of this tense · 23rd percentile among 39 sector filers · read for its shareholders

From the record

BT Brands, Inc.'s newest year against its own record: revenue of $15 million in fiscal 2024 came in 5.8% below the $16 million its prior three years' pace pointed to (bottom 35% of its family); net income of $2 million against a prior three-year average of $779 thousand (bottom 14%); a net margin of -15.6% against -5.7% before (bottom 19%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-5.8%bottom 35% of its family
  • net income against the prior three years' average-197%bottom 14% of its family
  • net margin against its prior average-9.9 pointsbottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BTBD · research, not advice