What is Rave Restaurant Group's operating income?

Rave Restaurant Group's total operating income in 2026 was $3.47 million, based on the following breakdown: Total Gross Profit: $9.55 million Total Operating Expenses: $6.07 million

Rave Restaurant Group (RAVE) Financials

$2.29 0.00 (0.00%)

Closing price 04:00 PM Eastern

Extended Trading

$2.27 -0.02 (-0.87%)

As of 07:30 PM Eastern

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Annual Income Statements for Rave Restaurant Group

This table shows Rave Restaurant Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/26/2016	6/25/2017	6/24/2018	6/30/2019	6/28/2020	6/27/2021	6/26/2022	6/25/2023	6/30/2024	6/29/2025	6/28/2026
Net Income / (Loss) Attributable to Common Shareholders	-8.89	-12	1.91	-0.75	-4.23	1.52	8.02	1.61	2.47	2.70	2.88
Consolidated Net Income / (Loss)	-8.89	-12	1.91	-0.75	-4.23	1.52	8.02	1.61	2.47	2.70	2.88
Net Income / (Loss) Continuing Operations	-8.49	-11	2.27	-0.75	-4.23	1.52	8.02	1.61	2.47	2.70	2.88
Total Pre-Tax Income	-5.83	-11	-1.05	-0.80	-0.16	1.49	2.37	2.15	3.09	3.62	3.88
Total Operating Income	-5.83	-11	-0.87	-0.70	-0.06	0.93	1.72	2.15	2.93	3.25	3.47
Total Gross Profit	56	23	11	9.93	9.54	8.21	11	7.86	8.49	8.64	9.55
Total Revenue	60	26	15	12	10	8.59	11	12	12	12	13
Operating Revenue	60	26	15	12	10	8.59	11	12	12	12	13
Total Cost of Revenue	3.74	3.08	4.01	2.39	0.49	0.39	0.05	4.03	3.66	3.40	3.36
Operating Cost of Revenue	3.64	2.74	3.65	1.12	0.44	0.26	0.00	3.96	3.66	3.40	3.36
Total Operating Expenses	62	34	12	11	9.60	7.28	8.92	5.71	5.57	5.40	6.07
Selling, General & Admin Expense	59	25	7.60	5.27	5.50	4.71	5.45	5.49	5.28	5.23	5.90
Depreciation Expense	-	2.43	0.87	0.47	0.19	0.17	0.19	0.21	0.22	0.18	0.17
Other Operating Expenses / (Income)	0.89	0.16	2.65	3.78	3.05	2.39	3.28	-	0.07	-0.02	0.01
Total Other Income / (Expense), net	0.00	-0.11	-0.18	-0.10	-0.10	0.57	0.64	-0.00	0.16	0.37	0.41
Interest & Investment Income	-	-	-	-	-	-	-	-	0.15	0.35	0.39
Other Income / (Expense), net	-	-	-	-	0.00	0.66	0.70	-	0.01	0.02	0.02
Income Tax Expense	2.65	0.05	-3.32	-0.05	4.08	-0.03	-5.66	0.54	0.62	0.92	1.01
Basic Earnings per Share	($0.86)	($1.18)	$0.14	($0.05)	($0.28)	$0.09	$0.45	$0.11	$0.17	$0.19	$0.20
Weighted Average Basic Shares Outstanding	10.32M	10.62M	13.85M	15.07M	15.14M	17.31M	17.99M	15.32M	14.45M	14.50M	14.21M
Diluted Earnings per Share	($0.86)	($1.18)	$0.13	($0.05)	($0.28)	$0.09	$0.45	$0.10	$0.17	$0.19	$0.20
Weighted Average Diluted Shares Outstanding	10.32M	10.62M	14.98M	15.07M	15.14M	18.11M	17.99M	15.91M	14.63M	14.56M	14.30M
Weighted Average Basic & Diluted Shares Outstanding	10.66M	14.28M	15.05M	15.12M	15.47M	18.00M	16.40M	14.15M	14.59M	14.21M	14.21M

This table shows Rave Restaurant Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/24/2023	3/24/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026	6/28/2026
Net Income / (Loss) Attributable to Common Shareholders	0.55	0.65	0.88	0.53	0.61	0.72	0.85	0.65	0.64	0.80	0.80
Consolidated Net Income / (Loss)	0.55	0.65	0.88	0.53	0.61	0.72	0.85	0.65	0.64	0.80	0.80
Net Income / (Loss) Continuing Operations	0.55	0.65	0.88	0.53	0.61	0.72	0.85	0.65	0.64	0.80	0.80
Total Pre-Tax Income	0.54	0.85	1.18	0.70	0.75	0.95	1.22	0.85	0.84	1.06	1.14
Total Operating Income	0.49	0.81	1.12	0.61	0.66	0.86	1.12	0.75	0.74	0.96	1.02
Total Gross Profit	1.89	2.14	1.31	3.07	2.86	2.20	1.37	3.21	3.04	3.21	0.09
Total Revenue	2.75	2.96	3.36	3.05	2.87	2.97	3.15	3.21	3.04	3.22	3.43
Operating Revenue	2.75	2.96	3.36	3.05	2.87	2.97	3.15	3.21	3.04	3.22	3.43
Total Cost of Revenue	0.85	0.82	2.05	-0.02	0.01	0.77	1.78	0.00	0.01	0.01	3.34
Total Operating Expenses	1.40	1.33	0.19	2.46	2.20	1.34	0.25	2.46	2.29	2.26	-0.94
Selling, General & Admin Expense	1.34	1.27	1.34	1.42	1.31	1.31	1.18	1.38	1.52	1.47	1.53
Depreciation Expense	0.06	0.06	0.05	0.04	0.05	0.04	0.04	0.04	0.04	0.04	0.04
Other Operating Expenses / (Income)	-	-	-	1.00	0.83	-0.01	-	1.04	0.73	0.75	-2.51
Total Other Income / (Expense), net	0.05	0.05	0.06	0.09	0.09	0.10	0.10	0.10	0.10	0.10	0.11
Interest & Investment Income	-	-	-	0.08	0.09	0.08	-	0.09	0.09	0.10	0.11
Other Income / (Expense), net	-	-	-	0.00	0.00	0.01	-	0.01	0.01	0.00	0.00
Income Tax Expense	-0.01	0.20	0.30	0.17	0.14	0.23	0.38	0.21	0.21	0.26	0.34
Basic Earnings per Share	$0.04	$0.04	$0.06	$0.04	$0.04	$0.05	$0.06	$0.05	$0.04	$0.06	$0.05
Weighted Average Basic Shares Outstanding	14.44M	14.59M	14.45M	14.59M	14.69M	14.51M	14.50M	14.21M	14.21M	14.21M	14.21M
Diluted Earnings per Share	$0.04	$0.04	$0.06	$0.04	$0.04	$0.05	$0.06	$0.05	$0.04	$0.06	$0.05
Weighted Average Diluted Shares Outstanding	14.47M	14.74M	14.63M	14.80M	14.72M	14.53M	14.56M	14.28M	14.28M	14.30M	14.30M
Weighted Average Basic & Diluted Shares Outstanding	14.59M	14.59M	14.59M	14.71M	14.71M	-	0.00	14.21M	14.21M	14.21M	14.21M

This table details how cash moves in and out of Rave Restaurant Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/26/2016	6/25/2017	6/24/2018	6/30/2019	6/28/2020	6/27/2021	6/26/2022	6/25/2023	6/30/2024	6/29/2025	6/28/2026
Net Change in Cash & Equivalents	-4.85	-0.42	0.94	0.88	0.71	5.13	-0.61	-2.40	-2.44	-0.03	-1.74
Net Cash From Operating Activities	1.95	-5.55	-3.90	0.66	-0.36	1.49	1.38	2.84	2.85	3.40	3.55
Net Cash From Continuing Operating Activities	-5.80	-6.63	-3.90	0.66	-0.36	1.49	1.38	2.84	2.85	3.40	3.55
Net Income / (Loss) Continuing Operations	-8.89	-12	1.91	-0.75	-4.23	1.52	8.02	1.61	2.47	2.70	2.88
Consolidated Net Income / (Loss)	-8.89	-12	1.91	-0.75	-4.23	1.52	8.02	1.61	2.47	2.70	2.88
Depreciation Expense	2.72	2.41	0.84	0.42	0.15	0.13	0.14	0.14	0.14	0.10	0.09
Amortization Expense	-	0.05	0.07	0.07	0.54	0.06	0.07	0.58	0.44	0.32	0.18
Non-Cash Adjustments To Reconcile Net Income	2.34	3.95	1.24	1.55	-0.67	-1.09	0.18	-0.14	0.26	0.14	0.32
Changes in Operating Assets and Liabilities, net	5.77	-0.54	-7.96	-0.63	3.86	0.86	-7.02	0.64	-0.47	0.14	0.10
Net Cash From Investing Activities	-7.67	0.43	0.71	0.13	0.07	-0.24	0.34	-0.23	-4.98	-2.04	-5.29
Net Cash From Continuing Investing Activities	-7.67	0.43	0.71	0.13	0.07	-0.24	0.34	-0.23	-4.98	-2.04	-5.29
Purchase of Property, Plant & Equipment	-	-	-1.08	-0.08	-0.06	-0.21	-0.07	-0.07	-0.08	-0.06	-0.05
Acquisitions	-	-	-	-	0.00	-0.07	-0.10	-0.17	-0.01	-0.01	0.00
Purchase of Investments	-	-	-	-	-	-	-	0.00	-10	-14	-14
Sale of Property, Plant & Equipment	0.44	1.00	1.79	0.01	0.00	0.00	0.00	0.01	0.00	0.01	0.01
Sale and/or Maturity of Investments	-	-	0.00	-	0.12	0.05	0.50	0.00	5.22	12	9.22
Other Investing Activities, net	-8.11	-0.57	-	0.20	-	-	-	0.00	0.00	-0.02	-0.00
Net Cash From Financing Activities	0.87	4.70	4.13	0.09	1.00	3.88	-2.33	-5.01	-0.31	-1.39	0.00
Net Cash From Continuing Financing Activities	0.87	4.70	4.13	0.09	1.00	3.88	-2.33	-5.01	-0.31	-1.39	0.00
Repurchase of Common Equity	-	-	-	0.00	-0.02	0.00	-0.51	-4.98	0.00	-1.20	0.00
Other Financing Activities, net	0.10	0.81	-	-	-	-	-	0.00	-0.31	-0.18	0.00
Cash Income Taxes Paid	0.00	-	0.06	0.17	0.02	0.02	0.03	0.09	0.01	0.12	0.12

This table details how cash moves in and out of Rave Restaurant Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/24/2023	3/24/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026	6/28/2026
Net Change in Cash & Equivalents	-0.64	1.01	-3.43	-1.50	1.49	-2.14	2.13	-1.46	-0.77	0.52	-0.02
Net Cash From Operating Activities	-0.32	1.03	1.51	0.53	0.71	0.96	1.23	0.61	0.31	1.14	1.50
Net Cash From Continuing Operating Activities	-0.32	1.03	1.51	0.53	0.71	0.96	1.23	0.61	0.31	1.14	1.50
Net Income / (Loss) Continuing Operations	0.55	0.65	0.88	0.53	0.61	0.72	0.85	0.65	0.64	0.80	0.80
Consolidated Net Income / (Loss)	0.55	0.65	0.88	0.53	0.61	0.72	0.85	0.65	0.64	0.80	0.80
Depreciation Expense	0.04	0.04	0.03	0.02	0.02	0.02	0.03	0.02	0.02	0.02	0.02
Amortization Expense	0.13	0.12	0.07	0.05	0.10	0.08	0.09	0.02	0.05	0.11	-0.01
Non-Cash Adjustments To Reconcile Net Income	0.14	0.06	0.09	-0.05	0.22	-0.32	0.29	-0.05	0.17	-0.17	0.36
Changes in Operating Assets and Liabilities, net	-1.18	0.16	0.45	-0.02	-0.24	0.45	-0.03	-0.03	-0.57	0.37	0.33
Net Cash From Investing Activities	-0.00	-0.01	-4.95	-2.03	0.96	-1.89	0.90	-2.07	-1.08	-0.62	-1.52
Net Cash From Continuing Investing Activities	-0.00	-0.01	-4.95	-2.03	0.96	-1.89	0.90	-2.07	-1.08	-0.62	-1.52
Purchase of Investments	-	-	-10	-5.04	-3.06	-4.16	-1.85	-4.30	-4.12	-4.52	-1.53
Sale of Property, Plant & Equipment	-	0.00	0.00	0.01	0.00	0.00	0.01	0.00	0.00	0.00	0.00
Cash Income Taxes Paid	-0.00	-	0.00	0.05	-	0.05	0.02	0.07	0.03	0.01	0.01

This table presents Rave Restaurant Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/26/2016	6/25/2017	6/24/2018	6/30/2019	6/28/2020	6/27/2021	6/26/2022	6/25/2023	6/30/2024	6/29/2025	6/28/2026
Total Assets	19	9.55	11	10	9.71	13	19	14	16	17	20
Total Current Assets	4.64	5.13	4.74	4.70	4.93	10	10	6.83	9.54	11	16
Cash & Equivalents	0.87	0.45	1.39	2.26	2.97	8.33	7.72	5.33	2.89	2.86	1.12
Short-Term Investments	-	-	-	-	-	-	-	0.00	4.95	7.02	12
Accounts Receivable	2.95	3.44	2.53	1.58	1.51	1.81	2.15	1.25	1.48	1.22	1.48
Prepaid Expenses	0.43	0.30	0.27	0.35	0.17	0.20	0.15	0.20	0.17	0.34	0.61
Other Current Assets	-	-	0.54	0.27	0.04	0.04	0.04	0.05	0.06	0.06	0.06
Plant, Property, & Equipment, net	13	3.81	1.51	0.50	0.37	0.45	0.37	0.26	0.18	0.14	0.10
Total Noncurrent Assets	0.89	0.61	4.74	5.22	4.41	2.53	8.09	7.15	6.10	4.93	3.67
Noncurrent Note & Lease Receivables	0.38	0.13	0.80	0.74	0.45	0.05	0.20	0.03	0.08	0.08	0.04
Intangible Assets	-	0.24	0.21	0.20	0.16	0.18	0.23	0.33	0.25	0.18	0.10
Noncurrent Deferred & Refundable Income Taxes	-	0.00	3.48	4.06	-	0.00	5.77	5.34	4.76	4.00	3.10
Other Noncurrent Operating Assets	0.50	0.25	0.24	0.23	3.80	2.29	1.89	1.45	1.01	0.68	0.43
Total Liabilities & Shareholders' Equity	19	9.55	11	10	9.71	13	19	14	16	17	20
Total Liabilities	9.10	12	4.69	5.99	9.20	7.61	5.10	3.85	3.12	2.40	2.21
Total Current Liabilities	5.50	6.74	1.98	2.38	2.51	4.53	2.89	2.20	2.02	1.74	1.69
Accounts Payable	3.82	4.17	0.77	1.23	0.85	0.64	0.67	0.50	0.36	0.21	0.20
Accrued Expenses	1.22	1.27	1.11	0.83	0.78	0.92	1.08	0.89	0.92	0.86	0.93
Current Deferred Revenue	0.46	0.31	0.10	0.31	0.25	0.63	0.54	0.34	0.34	0.31	0.36
Other Current Liabilities	-	-	-	0.00	0.63	0.51	0.57	0.46	0.40	0.37	0.19
Total Noncurrent Liabilities	3.60	4.88	2.71	3.61	6.69	3.08	2.21	1.65	1.10	0.66	0.51
Noncurrent Deferred Revenue	3.15	2.08	1.10	1.96	0.96	1.17	0.79	0.69	0.54	0.46	0.50
Other Noncurrent Operating Liabilities	-	-	0.04	0.07	3.52	1.91	1.42	0.96	0.56	0.21	0.01
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9.40	-2.08	6.30	4.43	0.50	5.73	13	10	13	14	17
Total Preferred & Common Equity	9.40	-2.08	6.30	4.43	0.50	5.73	13	10	13	14	17
Total Common Equity	9.40	-2.08	6.30	4.43	0.50	5.73	13	10	13	14	17
Common Stock	26	27	33	34	34	37	38	38	38	38	38
Retained Earnings	8.09	-4.41	-2.49	-4.48	-8.72	-7.20	0.83	2.44	4.91	7.61	10
Treasury Stock	-25	-25	-25	-25	-25	-25	-25	-30	-30	-31	-31

This table presents Rave Restaurant Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/24/2023	12/24/2023	3/24/2024	9/29/2024	12/29/2024	3/30/2025	9/28/2025	12/28/2025	3/29/2026
Total Assets	15	14	15	16	16	16	17	18	19
Total Current Assets	7.59	7.11	8.21	10	10	10	12	13	14
Cash & Equivalents	5.94	5.31	6.32	1.38	2.87	0.73	1.40	0.62	1.15
Short-Term Investments	-	-	-	7.05	6.05	7.99	9.16	10	11
Accounts Receivable	1.19	1.28	1.40	1.43	1.18	1.27	1.13	1.35	1.70
Prepaid Expenses	0.39	0.46	0.43	0.34	0.21	0.22	0.49	0.69	0.60
Other Current Assets	0.07	0.07	0.06	0.05	0.05	0.05	0.06	0.06	0.06
Plant, Property, & Equipment, net	0.23	0.21	0.20	0.16	0.82	0.15	0.12	0.11	0.12
Total Noncurrent Assets	6.91	6.85	6.54	5.87	4.94	5.32	4.65	4.43	4.10
Noncurrent Note & Lease Receivables	0.04	0.06	0.05	0.07	0.06	0.09	0.06	0.07	0.07
Intangible Assets	0.31	0.29	0.27	0.23	0.21	0.19	0.16	0.14	0.12
Noncurrent Deferred & Refundable Income Taxes	5.23	5.27	5.10	4.61	4.49	4.30	3.82	3.65	3.43
Other Noncurrent Operating Assets	1.32	1.22	1.12	0.96	0.19	0.74	0.61	0.57	0.48
Total Liabilities & Shareholders' Equity	15	14	15	16	16	16	17	18	19
Total Liabilities	3.87	3.06	3.16	2.98	2.34	2.36	2.17	2.01	2.13
Total Current Liabilities	2.42	1.70	1.94	2.00	1.44	1.58	1.62	1.53	1.66
Accounts Payable	0.58	0.65	0.65	0.44	0.46	0.43	0.29	0.48	0.35
Accrued Expenses	1.17	0.45	0.67	0.97	0.50	0.60	0.86	0.58	0.75
Current Deferred Revenue	0.22	0.16	0.19	0.20	0.12	0.18	0.10	0.10	0.28
Other Current Liabilities	0.45	0.43	0.42	0.38	0.37	0.37	0.37	0.38	0.29
Total Noncurrent Liabilities	1.45	1.36	1.22	0.99	0.90	0.79	0.55	0.48	0.47
Noncurrent Deferred Revenue	0.60	0.62	0.57	0.52	0.50	0.49	0.44	0.47	0.46
Other Noncurrent Operating Liabilities	0.85	0.74	0.64	0.47	-	0.30	0.11	0.02	0.01
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	11	11	12	13	14	13	15	16	16
Total Preferred & Common Equity	11	11	12	13	14	13	15	16	16
Total Common Equity	11	11	12	13	14	13	15	16	16
Common Stock	38	38	38	38	38	38	38	38	38
Retained Earnings	2.83	3.38	4.03	5.44	6.05	6.77	8.26	8.90	9.70
Treasury Stock	-30	-30	-30	-30	-30	-31	-	-31	-31

This table displays calculated financial ratios and metrics derived from Rave Restaurant Group's official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/26/2016	6/25/2017	6/24/2018	6/30/2019	6/28/2020	6/27/2021	6/26/2022	6/25/2023	6/30/2024	6/29/2025	6/28/2026
DEI Shares Outstanding	10,345,631.00	10,656,551.00	15,047,274.00	15,071,311.00	15,132,040.00	18,004,904.00	18,004,904.00	14,154,453.00	14,586,566.00	14,711,566.00	14,211,566.00
DEI Adjusted Shares Outstanding	10,345,631.00	10,656,551.00	15,047,274.00	15,071,311.00	15,132,040.00	18,004,904.00	18,004,904.00	14,154,453.00	14,586,566.00	14,711,566.00	14,211,566.00
DEI Earnings Per Adjusted Shares Outstanding	-0.86	-1.17	0.13	-0.05	-0.28	0.08	0.45	0.11	0.17	0.18	0.20
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	24.39%	-56.50%	-42.02%	-18.53%	-18.60%	-14.31%	24.43%	11.20%	2.20%	-0.91%	7.23%
EBITDA Growth	-409.17%	-177.34%	100.51%	-575.00%	399.52%	183.87%	48.23%	8.96%	22.58%	4.75%	1.87%
EBIT Growth	-161.80%	-90.02%	92.20%	19.42%	91.39%	2,738.33%	53.25%	-11.34%	36.63%	11.13%	6.95%
NOPAT Growth	-161.80%	-90.02%	92.20%	19.42%	91.39%	2,347.64%	518.74%	-72.37%	45.66%	3.71%	6.21%
Net Income Growth	-383.20%	-40.57%	115.31%	-139.23%	-464.40%	135.91%	427.76%	-79.89%	53.32%	9.26%	6.51%
EPS Growth	-377.78%	-37.21%	111.02%	-138.46%	-460.00%	132.14%	400.00%	-77.78%	70.00%	11.76%	5.26%
Operating Cash Flow Growth	-1.57%	-385.10%	29.67%	116.89%	-154.63%	512.50%	-6.80%	105.27%	0.14%	19.33%	4.62%
Free Cash Flow Firm Growth	63.16%	97.32%	-12,051.67%	142.46%	61.10%	-69.27%	-153.16%	449.71%	12.02%	19.47%	3.36%
Invested Capital Growth	-20.38%	-85.84%	409.04%	-45.62%	-114.03%	-56.07%	841.76%	-11.47%	-3.79%	-12.32%	-12.90%
Revenue Q/Q Growth	1.67%	-39.90%	53.81%	1.97%	-12.60%	9.73%	4.33%	1.93%	2.59%	-1.64%	2.20%
EBITDA Q/Q Growth	-47.02%	10.66%	112.29%	-121.98%	148.15%	-20.03%	97.45%	26.10%	6.80%	0.82%	-5.15%
EBIT Q/Q Growth	-28.62%	11.36%	40.71%	-274.25%	94.79%	119.86%	55.12%	23.48%	11.16%	0.09%	-2.67%
NOPAT Q/Q Growth	-28.62%	11.36%	40.71%	-108.33%	94.79%	32.37%	269.32%	-70.83%	9.22%	-2.32%	-2.73%
Net Income Q/Q Growth	-48.32%	16.07%	175.48%	-121.97%	16.85%	143.20%	271.22%	-79.23%	11.00%	-1.21%	-1.74%
EPS Q/Q Growth	-26.47%	9.23%	159.09%	-120.83%	20.00%	125.00%	246.15%	-77.27%	13.33%	0.00%	-4.76%
Operating Cash Flow Q/Q Growth	31.31%	-71.82%	43.82%	-30.49%	36.28%	1,626.74%	-41.53%	35.80%	4.33%	-5.09%	9.53%
Free Cash Flow Firm Q/Q Growth	65.40%	-102.63%	-20.00%	-45.45%	2.10%	242.83%	-129.93%	743.65%	2.80%	-9.34%	10.56%
Invested Capital Q/Q Growth	-12.43%	507.69%	84.63%	-27.33%	-433.78%	-252.67%	7,074.39%	-12.75%	-11.15%	-7.69%	-16.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	93.77%	88.20%	73.51%	80.64%	95.09%	95.52%	99.56%	66.11%	69.34%	71.96%	73.94%
EBITDA Margin	-5.19%	-33.09%	0.29%	-1.70%	6.24%	20.68%	24.64%	24.14%	28.95%	30.61%	29.08%
Operating Margin	-9.73%	-42.50%	-5.72%	-5.66%	-0.60%	10.78%	16.11%	18.09%	24.19%	27.13%	26.91%
EBIT Margin	-9.73%	-42.50%	-5.72%	-5.66%	-0.60%	18.42%	22.69%	18.09%	24.19%	27.13%	27.06%
Profit (Net Income) Margin	-14.82%	-47.90%	12.65%	-6.09%	-42.21%	17.69%	75.03%	13.57%	20.35%	22.44%	22.29%
Tax Burden Percent	152.34%	111.63%	-182.44%	93.63%	2,730.97%	101.95%	339.20%	75.02%	79.98%	74.64%	74.10%
Interest Burden Percent	100.00%	100.96%	121.16%	114.92%	258.33%	94.19%	97.49%	99.95%	105.21%	110.84%	111.19%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-1.95%	-239.20%	24.98%	20.02%	25.36%	25.90%
Return on Invested Capital (ROIC)	-40.30%	-151.32%	-15.63%	-9.76%	-2.78%	0.00%	236.09%	29.93%	47.32%	53.33%	64.43%
ROIC Less NNEP Spread (ROIC-NNEP)	-23.02%	-474.22%	127.12%	61.36%	436.07%	0.00%	205.37%	29.95%	45.47%	50.35%	61.84%
Return on Net Nonoperating Assets (RNNOA)	16.88%	-189.78%	106.25%	-4.21%	-168.71%	0.00%	-152.29%	-16.38%	-25.91%	-33.21%	-46.15%
Return on Equity (ROE)	-23.42%	-341.10%	90.62%	-13.98%	-171.48%	48.75%	83.80%	13.55%	21.42%	20.12%	18.28%
Cash Return on Invested Capital (CROIC)	-17.60%	-0.93%	-149.95%	49.34%	0.00%	0.00%	-11.35%	42.10%	51.19%	66.46%	78.22%
Operating Return on Assets (OROA)	-27.46%	-79.03%	-8.43%	-6.51%	-0.60%	13.74%	15.23%	13.13%	19.56%	20.18%	19.36%
Return on Assets (ROA)	-41.84%	-89.06%	18.62%	-7.01%	-42.05%	13.19%	50.36%	9.85%	16.46%	16.69%	15.95%
Return on Common Equity (ROCE)	-23.42%	-341.10%	90.62%	-13.98%	-171.48%	48.75%	83.80%	13.55%	21.42%	20.12%	18.28%
Return on Equity Simple (ROE_SIMPLE)	-94.50%	600.82%	30.35%	-16.91%	-841.55%	26.51%	59.81%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.08	-7.76	-0.61	-0.49	-0.04	0.94	5.84	1.61	2.35	2.44	2.57
NOPAT Margin	-6.81%	-29.75%	-4.00%	-3.96%	-0.42%	10.99%	54.63%	13.57%	19.35%	20.25%	19.94%
Net Nonoperating Expense Percent (NNEP)	-17.27%	322.91%	-142.76%	-71.13%	-438.85%	15.36%	30.73%	-0.01%	1.86%	2.98%	2.59%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	15.53%	18.51%	17.22%	14.85%
Cost of Revenue to Revenue	6.23%	11.80%	26.49%	19.36%	4.91%	4.48%	0.44%	33.89%	30.66%	28.04%	26.06%
SG&A Expenses to Revenue	99.18%	94.83%	50.24%	42.81%	54.88%	54.81%	50.94%	46.18%	43.35%	43.32%	45.69%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	103.50%	130.70%	79.23%	86.30%	95.69%	84.74%	83.45%	48.02%	45.15%	44.83%	47.03%
Earnings before Interest and Taxes (EBIT)	-5.83	-11	-0.87	-0.70	-0.06	1.58	2.43	2.15	2.94	3.27	3.49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.11	-8.63	0.04	-0.21	0.63	1.78	2.63	2.87	3.52	3.69	3.75
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.35	0.00	3.15	10.47	26.94	4.46	1.42	2.56	2.27	0.00	2.80
Price to Tangible Book Value (P/TBV)	4.35	0.00	3.26	10.95	38.94	4.61	1.45	2.64	2.32	0.00	2.82
Price to Revenue (P/Rev)	0.68	0.75	1.31	3.77	1.35	2.98	1.79	2.24	2.38	0.00	3.76
Price to Earnings (P/E)	0.00	0.00	10.39	0.00	0.00	16.82	2.38	16.50	11.68	0.00	16.89
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	9.63%	0.00%	0.00%	5.95%	42.03%	6.06%	8.56%	0.00%	5.92%
Enterprise Value to Invested Capital (EV/IC)	4.50	17.97	3.09	12.92	0.00	0.00	1.99	4.20	4.32	0.00	9.41
Enterprise Value to Revenue (EV/Rev)	0.67	0.88	1.33	3.69	1.25	2.22	1.07	1.79	1.73	0.00	2.71
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	455.42	0.00	20.05	10.73	4.33	7.42	5.98	0.00	9.32
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	12.04	4.70	9.89	7.16	0.00	10.02
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	20.19	1.95	13.19	8.96	0.00	13.59
Enterprise Value to Operating Cash Flow (EV/OCF)	20.78	0.00	0.00	69.05	0.00	12.84	8.23	7.49	7.40	0.00	9.85
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	18.45	3.16	15.61	0.00	9.38	8.28	0.00	11.20
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	-1.83	0.25	0.36	4.39	0.32	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.05	-1.35	0.25	0.36	4.39	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.73	0.40	0.84	-0.07	-0.39	-1.20	-0.74	-0.55	-0.57	-0.66	-0.75
Leverage Ratio	0.56	3.83	4.87	2.00	4.08	3.70	1.66	1.38	1.30	1.21	1.15
Compound Leverage Factor	0.56	3.87	5.89	2.29	10.53	3.48	1.62	1.38	1.37	1.34	1.27
Debt to Total Capital	4.60%	220.66%	19.87%	26.32%	81.43%	24.16%	0.22%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	58.04%	0.00%	0.00%	0.00%	24.16%	0.22%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	4.60%	162.62%	19.87%	26.32%	81.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.40%	-120.66%	80.13%	73.68%	18.57%	75.84%	99.78%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-0.15	-0.44	35.50	-7.58	3.52	1.03	0.01	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.14	-0.39	4.00	4.37	-1.59	-3.66	-2.92	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	-0.15	-0.32	35.50	-7.58	3.52	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-0.11	-0.49	-2.58	-3.25	-52.52	1.93	0.01	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.10	-0.43	-0.29	1.87	23.74	-6.89	-1.32	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-0.11	-0.36	-2.58	-3.25	-52.52	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	5.45	-0.94	3.64	5.27	0.94	2.82	3.78	6.12	7.95	0.00	16.09
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.84	0.76	2.39	1.98	1.96	2.29	3.48	3.11	4.72	6.61	9.31
Quick Ratio	0.69	0.58	1.98	1.62	1.78	2.24	3.42	2.99	4.61	6.38	8.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1.78	-0.05	-5.81	2.47	3.97	1.22	-0.65	2.27	2.54	3.04	3.13
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	941.43%	-642.86%	703.79%	2,096.97%	4,898.28%	3,897.26%	8,083.33%	8,880.00%
Free Cash Flow to Firm to Interest Expense	0.00	-0.45	-31.74	23.71	41.82	13.27	-10.64	2,269.75	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	-52.34	-21.32	6.34	-3.79	16.14	22.69	2,841.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-42.92	-17.45	5.66	-4.38	13.85	21.61	2,783.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.82	1.86	1.47	1.15	1.00	0.75	0.67	0.73	0.81	0.74	0.72
Accounts Receivable Turnover	18.78	8.17	5.07	5.99	6.49	5.17	5.39	6.99	8.90	8.93	9.57
Inventory Turnover	19.82	6.50	10.60	366.92	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.21	3.11	5.69	12.26	23.16	21.19	26.40	38.17	55.23	75.48	108.49
Accounts Payable Turnover	1.12	0.77	1.62	2.38	0.47	0.51	0.07	6.88	8.65	11.93	16.41
Days Sales Outstanding (DSO)	19.43	44.67	72.01	60.89	56.25	70.57	67.68	52.24	40.99	40.85	38.15
Days Inventory Outstanding (DIO)	18.41	56.15	34.45	0.99	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	326.71	473.15	225.06	153.50	773.40	709.62	5,098.35	53.04	42.18	30.60	22.24
Cash Conversion Cycle (CCC)	-288.87	-372.33	-118.60	-91.62	-717.15	-639.04	-5,030.67	-0.81	-1.19	10.26	15.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8.98	1.27	6.48	3.52	-0.49	-0.77	5.72	5.06	4.87	4.27	3.72
Invested Capital Turnover	5.92	5.09	3.90	2.46	6.63	-13.59	4.32	2.21	2.45	2.63	3.23
Increase / (Decrease) in Invested Capital	-2.30	-7.71	5.20	-2.95	-4.02	-0.28	6.49	-0.66	-0.19	-0.60	-0.55
Enterprise Value (EV)	40	23	20	46	13	19	11	21	21	0.00	35
Market Capitalization	41	20	20	46	14	26	19	27	29	0.00	49
Book Value per Share	$0.91	($0.20)	$0.42	$0.29	$0.03	$0.32	$0.74	$0.73	$0.87	$0.98	$1.22
Tangible Book Value per Share	$0.91	($0.22)	$0.40	$0.28	$0.02	$0.31	$0.73	$0.71	$0.85	$0.96	$1.21
Total Capital	9.86	1.72	7.86	6.02	2.71	7.56	13	10	13	14	17
Total Debt	0.45	3.80	1.56	1.58	2.21	1.83	0.03	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.45	2.80	1.56	1.58	2.21	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-0.42	3.35	0.18	-0.91	-1.00	-6.50	-7.69	-5.33	-7.83	-9.88	-14
Capital Expenditures (CapEx)	-0.44	-1.00	-0.71	0.07	0.06	0.21	0.07	0.06	0.07	0.04	0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.73	-1.07	1.37	-0.17	-0.79	-0.66	-0.53	-0.69	-0.31	-0.13	0.46
Debt-free Net Working Capital (DFNWC)	-0.86	-0.62	2.76	2.33	2.42	7.67	7.20	4.64	7.52	9.75	14
Net Working Capital (NWC)	-0.86	-1.62	2.76	2.33	2.42	5.84	7.17	4.64	7.52	9.75	14
Net Nonoperating Expense (NNE)	4.80	4.73	-2.52	0.26	4.19	-0.58	-2.18	0.00	-0.12	-0.26	-0.30
Net Nonoperating Obligations (NNO)	-0.42	3.35	0.18	-0.91	-1.00	-6.50	-7.69	-5.33	-7.83	-9.88	-14
Total Depreciation and Amortization (D&A)	2.72	2.46	0.91	0.49	0.69	0.19	0.21	0.72	0.58	0.42	0.26
Debt-free, Cash-free Net Working Capital to Revenue	-2.89%	-4.10%	9.08%	-1.40%	-7.83%	-7.70%	-4.91%	-5.82%	-2.58%	-1.08%	3.56%
Debt-free Net Working Capital to Revenue	-1.43%	-2.37%	18.25%	18.87%	24.11%	89.24%	67.32%	38.99%	61.87%	81.01%	108.99%
Net Working Capital to Revenue	-1.43%	-6.20%	18.25%	18.87%	24.11%	67.99%	67.04%	38.99%	61.87%	81.01%	108.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.86)	($1.18)	$0.14	($0.05)	($0.28)	$0.09	$0.45	$0.11	$0.17	$0.19	$0.20
Adjusted Weighted Average Basic Shares Outstanding	10.32M	10.62M	13.85M	15.07M	15.14M	17.31M	17.99M	15.32M	14.45M	14.50M	14.21M
Adjusted Diluted Earnings per Share	($0.83)	($1.18)	$0.13	($0.05)	($0.28)	$0.09	$0.45	$0.10	$0.17	$0.19	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	10.75M	10.62M	14.98M	15.07M	15.14M	18.11M	17.99M	15.91M	14.63M	14.56M	14.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	10.66M	14.28M	15.05M	15.12M	15.47M	18.00M	16.40M	14.15M	14.59M	0.00	14.21M
Normalized Net Operating Profit after Tax (NOPAT)	-2.89	-3.03	-0.00	0.29	0.56	0.66	1.21	1.62	2.35	2.44	2.57
Normalized NOPAT Margin	-4.83%	-11.61%	0.00%	2.36%	5.56%	7.63%	11.31%	13.61%	19.35%	20.25%	19.94%
Pre Tax Income Margin	-9.73%	-42.91%	-6.93%	-6.50%	-1.55%	17.35%	22.12%	18.08%	25.45%	30.07%	30.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-104.57	-4.73	-6.70	-0.63	17.21	39.77	2,151.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-73.20	-3.31	-4.69	-0.44	10.26	95.75	1,613.75	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-95.14	-0.86	-7.38	-1.22	14.91	38.69	2,093.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-63.77	0.56	-5.36	-1.03	7.97	94.67	1,555.75	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-0.35%	0.00%	6.38%	308.68%	0.00%	44.56%	0.00%

This table displays calculated financial ratios and metrics derived from Rave Restaurant Group's official financial filings.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/24/2023	3/24/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026	6/28/2026
DEI Shares Outstanding	14,586,566.00	14,586,566.00	14,586,566.00	14,586,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,211,566.00
DEI Adjusted Shares Outstanding	14,586,566.00	14,586,566.00	14,586,566.00	14,586,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,711,566.00	14,211,566.00
DEI Earnings Per Adjusted Shares Outstanding	0.04	0.04	0.06	0.04	0.04	0.05	0.06	0.04	0.04	0.05	0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.19%	-0.27%	10.07%	-1.20%	4.48%	0.14%	-5.99%	5.34%	6.03%	8.66%	8.81%
EBITDA Growth	51.96%	17.46%	14.73%	0.59%	19.00%	0.83%	2.47%	16.89%	5.24%	12.16%	-16.55%
EBIT Growth	1.23%	84.70%	35.76%	18.80%	34.41%	7.05%	0.27%	23.98%	13.10%	10.51%	-8.73%
NOPAT Growth	45.37%	91.81%	31.54%	19.87%	6.09%	4.88%	-6.96%	23.66%	4.60%	11.68%	-7.43%
Net Income Growth	58.91%	102.48%	38.58%	36.27%	9.76%	10.40%	-3.75%	22.62%	4.94%	10.80%	-6.02%
EPS Growth	100.00%	100.00%	50.00%	33.33%	0.00%	25.00%	0.00%	25.00%	0.00%	20.00%	-16.67%
Operating Cash Flow Growth	5.83%	132.65%	-5.85%	-15.61%	320.12%	-6.34%	-18.96%	14.72%	-56.96%	18.21%	25.90%
Free Cash Flow Firm Growth	109.91%	116.91%	-20.43%	6.86%	170.53%	59.99%	34.06%	129.14%	-46.12%	-39.81%	-7.75%
Invested Capital Growth	-0.63%	-5.53%	-3.79%	-0.90%	-16.08%	-15.60%	-12.32%	-12.06%	-4.73%	-3.89%	-12.90%
Revenue Q/Q Growth	-11.05%	7.87%	13.27%	-9.09%	-5.93%	3.38%	6.34%	1.87%	-5.32%	5.95%	6.48%
EBITDA Q/Q Growth	-3.66%	46.20%	26.30%	-43.46%	13.97%	23.88%	28.35%	-35.50%	2.62%	32.04%	-4.50%
EBIT Q/Q Growth	-4.26%	63.77%	38.44%	-45.27%	8.32%	30.42%	29.68%	-32.32%	-1.18%	27.43%	7.11%
NOPAT Q/Q Growth	31.57%	22.46%	34.82%	-44.82%	16.44%	21.08%	18.07%	-26.66%	-1.51%	29.28%	-1.22%
Net Income Q/Q Growth	43.26%	18.26%	34.56%	-40.23%	15.40%	18.95%	17.31%	-23.85%	-1.24%	25.59%	-0.50%
EPS Q/Q Growth	33.33%	0.00%	50.00%	-33.33%	0.00%	25.00%	20.00%	-16.67%	-20.00%	50.00%	-16.67%
Operating Cash Flow Q/Q Growth	-151.43%	417.65%	47.56%	-64.99%	34.15%	35.16%	28.75%	-50.45%	-49.67%	271.24%	32.22%
Free Cash Flow Firm Q/Q Growth	14.90%	73.25%	9.22%	-50.85%	190.88%	2.46%	-8.99%	-15.99%	-31.60%	14.45%	39.98%
Invested Capital Q/Q Growth	17.98%	-5.40%	-11.15%	-0.06%	-0.10%	-4.85%	-7.69%	0.23%	8.22%	-4.01%	-16.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.90%	72.21%	38.96%	67.93%	71.10%	74.11%	43.44%	67.72%	99.77%	99.72%	2.56%
EBITDA Margin	23.96%	32.48%	36.21%	22.52%	27.29%	32.70%	39.47%	24.99%	27.09%	33.76%	30.27%
Operating Margin	17.99%	27.31%	33.38%	19.97%	23.14%	28.83%	35.61%	23.40%	24.39%	29.69%	29.81%
EBIT Margin	17.99%	27.31%	33.38%	20.10%	23.14%	29.20%	35.61%	23.65%	24.69%	29.69%	29.87%
Profit (Net Income) Margin	20.14%	22.08%	26.23%	17.25%	21.16%	24.34%	26.85%	20.07%	20.94%	24.82%	23.19%
Tax Burden Percent	102.41%	76.58%	74.58%	75.68%	80.83%	76.00%	69.20%	75.79%	75.65%	75.83%	70.07%
Interest Burden Percent	109.31%	105.56%	105.36%	113.38%	113.10%	109.70%	108.99%	111.97%	112.12%	110.24%	110.83%
Effective Tax Rate	-2.41%	23.42%	25.42%	24.32%	19.17%	24.00%	30.80%	24.21%	24.35%	24.17%	29.93%
Return on Invested Capital (ROIC)	37.56%	43.90%	60.90%	37.43%	42.95%	53.05%	64.89%	47.32%	48.10%	62.69%	67.49%
ROIC Less NNEP Spread (ROIC-NNEP)	36.48%	43.22%	60.22%	36.53%	41.96%	52.09%	64.10%	46.53%	47.33%	61.97%	66.81%
Return on Net Nonoperating Assets (RNNOA)	-15.65%	-20.50%	-34.31%	-21.74%	-23.99%	-31.15%	-42.28%	-31.40%	-32.00%	-43.10%	-49.85%
Return on Equity (ROE)	21.91%	23.40%	26.58%	15.69%	18.96%	21.90%	22.61%	15.92%	16.10%	19.59%	17.63%
Cash Return on Invested Capital (CROIC)	32.59%	43.83%	51.19%	50.46%	63.54%	66.06%	66.46%	68.51%	58.99%	62.30%	78.22%
Operating Return on Assets (OROA)	15.68%	22.74%	26.99%	15.70%	18.71%	23.31%	26.48%	17.34%	18.15%	21.88%	21.37%
Return on Assets (ROA)	17.56%	18.39%	21.21%	13.47%	17.10%	19.43%	19.97%	14.72%	15.40%	18.29%	16.59%
Return on Common Equity (ROCE)	21.91%	23.40%	26.58%	15.69%	18.96%	21.90%	22.61%	15.92%	16.10%	19.59%	17.63%
Return on Equity Simple (ROE_SIMPLE)	17.09%	18.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.51	0.62	0.84	0.46	0.54	0.65	0.78	0.57	0.56	0.73	0.72
NOPAT Margin	18.42%	20.92%	24.90%	15.11%	18.71%	21.91%	24.64%	17.74%	18.45%	22.52%	20.89%
Net Nonoperating Expense Percent (NNEP)	1.08%	0.68%	0.68%	0.91%	0.99%	0.96%	0.79%	0.79%	0.76%	0.72%	0.67%
Return On Investment Capital (ROIC_SIMPLE)	4.56%	5.25%	6.58%	3.47%	3.89%	4.87%	5.49%	3.84%	3.61%	4.41%	4.14%
Cost of Revenue to Revenue	31.10%	27.79%	61.04%	32.07%	28.90%	25.89%	56.56%	32.28%	0.23%	0.28%	97.44%
SG&A Expenses to Revenue	48.83%	42.94%	39.79%	46.56%	45.80%	44.27%	37.51%	42.89%	49.93%	45.55%	44.67%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	50.91%	44.90%	5.57%	47.97%	47.96%	45.28%	7.83%	44.32%	75.38%	70.03%	-27.24%
Earnings before Interest and Taxes (EBIT)	0.49	0.81	1.12	0.61	0.66	0.87	1.12	0.76	0.75	0.96	1.03
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	0.66	0.96	1.22	0.69	0.78	0.97	1.25	0.80	0.82	1.09	1.04
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.97	2.45	2.27	2.26	2.85	3.05	0.00	0.00	0.00	0.00	2.80
Price to Tangible Book Value (P/TBV)	3.05	2.51	2.32	2.30	2.90	3.10	0.00	0.00	0.00	0.00	2.82
Price to Revenue (P/Rev)	2.78	2.44	2.38	2.48	3.21	3.33	0.00	0.00	0.00	0.00	3.76
Price to Earnings (P/E)	17.38	12.96	11.68	11.50	14.73	14.90	0.00	0.00	0.00	0.00	16.89
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.75%	7.71%	8.56%	8.70%	6.79%	6.71%	0.00%	0.00%	0.00%	0.00%	5.92%
Enterprise Value to Invested Capital (EV/IC)	4.77	4.12	4.32	4.44	6.24	6.92	0.00	0.00	0.00	0.00	9.41
Enterprise Value to Revenue (EV/Rev)	2.33	1.91	1.73	1.78	2.48	2.62	0.00	0.00	0.00	0.00	2.71
Enterprise Value to EBITDA (EV/EBITDA)	8.78	6.85	5.98	6.14	8.33	8.80	0.00	0.00	0.00	0.00	9.32
Enterprise Value to EBIT (EV/EBIT)	12.17	8.53	7.16	7.13	9.48	9.86	0.00	0.00	0.00	0.00	10.02
Enterprise Value to NOPAT (EV/NOPAT)	14.89	10.48	8.96	8.92	12.37	12.89	0.00	0.00	0.00	0.00	13.59
Enterprise Value to Operating Cash Flow (EV/OCF)	12.91	8.27	7.40	7.87	8.03	8.62	0.00	0.00	0.00	0.00	9.85
Enterprise Value to Free Cash Flow (EV/FCFF)	14.60	9.12	8.28	8.76	8.97	9.59	0.00	0.00	0.00	0.00	11.20
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.43	-0.47	-0.57	-0.60	-0.57	-0.60	-0.66	-0.67	-0.68	-0.70	-0.75
Leverage Ratio	1.34	1.32	1.30	1.28	1.22	1.22	1.21	1.18	1.15	1.15	1.15
Compound Leverage Factor	1.46	1.40	1.37	1.46	1.38	1.34	1.31	1.32	1.29	1.27	1.27
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	8.21	7.34	7.57	7.99	12.17	12.57	0.00	0.00	0.00	0.00	15.67
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.19	4.24	4.72	5.13	7.19	6.51	6.61	7.57	8.50	8.63	9.31
Quick Ratio	3.88	3.98	4.61	4.94	7.01	6.34	6.38	7.23	8.01	8.24	8.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.54	0.94	1.03	0.50	1.47	1.50	1.38	1.16	0.79	0.91	1.27
Operating Cash Flow to CapEx	-2,018.75%	3,537.93%	25,233.33%	0.00%	1,653.49%	0.00%	17,528.57%	10,133.33%	5,100.00%	3,917.24%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.87	0.83	0.81	0.78	0.81	0.80	0.74	0.73	0.74	0.74	0.72
Accounts Receivable Turnover	8.72	7.74	8.90	9.23	9.97	9.17	8.93	9.54	9.77	8.51	9.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	46.29	48.84	55.23	62.12	64.57	70.14	75.48	35.06	87.77	93.92	108.49
Accounts Payable Turnover	1.37	2.99	8.65	9.17	8.44	8.59	11.93	9.42	5.60	4.82	16.41
Days Sales Outstanding (DSO)	41.86	47.15	40.99	39.56	36.62	39.80	40.85	38.27	37.37	42.89	38.15
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	265.87	122.21	42.18	39.81	43.23	42.52	30.60	38.73	65.23	75.80	22.24
Cash Conversion Cycle (CCC)	-224.01	-75.06	-1.19	-0.25	-6.61	-2.72	10.26	-0.46	-27.86	-32.90	15.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5.80	5.48	4.87	4.87	4.86	4.63	4.27	4.28	4.63	4.45	3.72
Invested Capital Turnover	2.04	2.10	2.45	2.48	2.30	2.42	2.63	2.67	2.61	2.78	3.23
Increase / (Decrease) in Invested Capital	-0.04	-0.32	-0.19	-0.04	-0.93	-0.86	-0.60	-0.59	-0.23	-0.18	-0.55
Enterprise Value (EV)	28	23	21	22	30	32	0.00	0.00	0.00	0.00	35
Market Capitalization	33	29	29	30	39	41	0.00	0.00	0.00	0.00	49
Book Value per Share	$0.76	$0.81	$0.87	$0.91	$0.94	$0.92	$0.98	$1.04	$1.09	$1.16	$1.22
Tangible Book Value per Share	$0.74	$0.79	$0.85	$0.90	$0.92	$0.91	$0.96	$1.03	$1.08	$1.15	$1.21
Total Capital	11	12	13	13	14	13	14	15	16	16	17
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-5.31	-6.32	-7.83	-8.43	-8.92	-8.72	-9.88	-11	-11	-12	-14
Capital Expenditures (CapEx)	0.02	0.03	0.01	-0.01	0.04	-0.00	0.01	0.01	0.01	0.03	-0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.10	-0.04	-0.31	-0.18	-0.00	-0.05	-0.13	0.06	0.57	0.70	0.46
Debt-free Net Working Capital (DFNWC)	5.41	6.28	7.52	8.26	8.91	8.67	9.75	11	11	13	14
Net Working Capital (NWC)	5.41	6.28	7.52	8.26	8.91	8.67	9.75	11	11	13	14
Net Nonoperating Expense (NNE)	-0.05	-0.03	-0.04	-0.07	-0.07	-0.07	-0.07	-0.08	-0.08	-0.07	-0.08
Net Nonoperating Obligations (NNO)	-5.31	-6.32	-7.83	-8.43	-8.92	-8.72	-9.88	-11	-11	-12	-14
Total Depreciation and Amortization (D&A)	0.16	0.15	0.10	0.07	0.12	0.10	0.12	0.04	0.07	0.13	0.01
Debt-free, Cash-free Net Working Capital to Revenue	0.87%	-0.36%	-2.58%	-1.44%	-0.03%	-0.39%	-1.08%	0.48%	4.64%	5.51%	3.56%
Debt-free Net Working Capital to Revenue	45.64%	52.98%	61.87%	68.17%	72.83%	70.86%	81.01%	86.99%	92.74%	100.51%	108.99%
Net Working Capital to Revenue	45.64%	52.98%	61.87%	68.17%	72.83%	70.86%	81.01%	86.99%	92.74%	100.51%	108.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.04	$0.04	$0.06	$0.04	$0.04	$0.05	$0.06	$0.05	$0.04	$0.06	$0.05
Adjusted Weighted Average Basic Shares Outstanding	14.44M	14.59M	14.45M	14.59M	14.69M	14.51M	14.50M	14.21M	14.21M	14.21M	14.21M
Adjusted Diluted Earnings per Share	$0.04	$0.04	$0.06	$0.04	$0.04	$0.05	$0.06	$0.05	$0.04	$0.06	$0.05
Adjusted Weighted Average Diluted Shares Outstanding	14.47M	14.74M	14.63M	14.80M	14.72M	14.53M	14.56M	14.28M	14.28M	14.30M	14.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	14.59M	14.59M	14.59M	14.71M	0.00	0.00	0.00	0.00	0.00	14.21M	14.21M
Normalized Net Operating Profit after Tax (NOPAT)	0.35	0.62	0.84	0.46	0.54	0.65	0.78	0.57	0.56	0.73	0.72
Normalized NOPAT Margin	12.59%	20.92%	24.90%	15.11%	18.71%	21.91%	24.64%	17.74%	18.45%	22.52%	20.89%
Pre Tax Income Margin	19.67%	28.83%	35.17%	22.79%	26.18%	32.03%	38.81%	26.49%	27.68%	32.73%	33.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	44.06%	44.56%	0.00%	0.00%	-0.03%	0.00%

Financials Breakdown Chart

Key Financial Trends

RAVE Restaurant Group’s recent results show a business that remains profitable and cash-generative, although the quality and consistency of its operating margins require close attention. Revenue increased from $3.05 million in Q1 2025 to $3.43 million in Q4 2026, with Q4 2026 revenue rising 6.5% from the prior quarter.

Profitability has also remained positive. Net income reached $796,000 in Q4 2026, compared with $645,000 in Q1 2026 and $800,000 in Q3. Based on the quarterly figures provided, cumulative net income increased from approximately $2.47 million in fiscal 2024 to $2.70 million in fiscal 2025 and approximately $2.88 million through fiscal 2026. However, reported operating expenses and cost-of-revenue classifications have been unusually volatile, limiting the usefulness of simple margin comparisons.

Revenue has trended higher. Quarterly revenue rose from $2.75 million in Q2 2024 and $2.96 million in Q3 2024 to $3.43 million in Q4 2026, indicating continued top-line expansion.
RAVE has maintained consistent profitability. Every reported quarter in the supplied period generated positive net income, and Q4 2026 earnings were $796,000, or approximately $0.05 per diluted share.
Operating cash flow remains strong. RAVE generated $1.50 million of operating cash flow in Q4 2026 and approximately $3.55 million for fiscal 2026 based on the quarterly cash-flow figures. Operating cash flow has been positive in all four fiscal 2026 quarters.
The balance sheet has substantial liquidity. As of Q3 2026, cash and short-term investments totaled approximately $12.73 million, compared with $10.03 million at Q1 2025. Total current assets of $14.36 million substantially exceeded current liabilities of $1.66 million.
Leverage appears limited. Total liabilities were $2.13 million at Q3 2026, versus total equity of $16.45 million. The company also reported no significant financing cash flows in the recent quarters and no interest expense in the 2026 income statements.
Investment activity is a major source of cash-flow volatility. RAVE has repeatedly purchased and sold short-term investments. In Q4 2026, a $1.53 million investment purchase contributed to a $22,000 decline in cash despite $1.50 million of operating cash flow.
Interest and investment income has become a meaningful earnings contributor. This income increased from $82,000 in Q1 2025 to $111,000 in Q4 2026, but it depends partly on the company’s investment portfolio and prevailing interest rates rather than restaurant operations.
Gross-margin data is highly inconsistent. Gross profit was $3.21 million on $3.22 million of revenue in Q3 2026, but only $88,000 on $3.43 million of revenue in Q4 2026 because reported cost of revenue rose to $3.34 million. This abrupt change may reflect classification or reporting differences, but investors should verify whether it represents a sustainable deterioration.
Operating results rely heavily on unusual other operating income. Q4 2026 included approximately $2.51 million of other operating income, while Q1 through Q3 2026 reported other operating expenses of $1.04 million, $732,000 and $747,000, respectively. This swing materially boosted Q4 operating income and makes underlying performance difficult to assess.
Cash balances remain exposed to investment decisions. Net changes in cash were negative in Q1 2026, Q2 2026 and Q4 2026, largely because investment purchases exceeded sales. Although liquidity is strong, continued deployment into investments can create quarter-to-quarter cash fluctuations.

Overall, the financial statements present a company with improving revenue, recurring earnings and a particularly strong liquidity position. The main caution for investors is that recent operating income has been affected by large swings in cost-of-revenue and other-operating-income classifications. RAVE’s underlying restaurant economics should be evaluated using normalized operating expenses and recurring revenue, rather than relying solely on the reported Q4 2026 operating margin.

10/06/26 09:51 PM ETAI Generated. May Contain Errors.

Rave Restaurant Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Rave Restaurant Group's financial year ends in June. Their financial year 2026 ended on June 28, 2026.

Rave Restaurant Group's net income appears to be on an upward trend, with a most recent value of $2.88 million in 2026, compared with -$8.89 million in 2016. The previous period was $2.70 million in 2025. View Rave Restaurant Group's forecast to see where analysts expect Rave Restaurant Group to go next.

Rave Restaurant Group's total operating income in 2026 was $3.47 million, based on the following breakdown:

Total Gross Profit: $9.55 million
Total Operating Expenses: $6.07 million

Over the last 10 years, Rave Restaurant Group's total revenue changed from $59.95 million in 2016 to $12.91 million in 2026, a change of -78.5%.

In the past 10 quarters, Rave Restaurant Group's cash and equivalents has ranged from $624 thousand in Q2 2026 to $6.32 million in Q3 2024, and is currently $1.15 million as of their latest financial filing in Q3 2026.

Rave Restaurant Group had total debt of $0.00 at the end of 2026, compared with none in 2025, and a 100.0% decrease since 2016.

Over the last 10 years, Rave Restaurant Group's book value per share changed from 0.91 in 2016 to 1.22 in 2026, a change of 34.2%.

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Financial statements for NASDAQ:RAVE last updated on 9/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Rave Restaurant Group (RAVE) Financials

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Rave Restaurant Group (RAVE) Financials

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