企業概要
BJ's Restaurants, Inc. is an operator of full-service dining establishments across the United States, specializing in a menu that includes pizzas, craft beers, appetizers, entrées, wings, pastas, sandwiches, specialty salads, and Pizookie desserts. The enterprise operates within the Consumer Cyclical sector and specifically within the Restaurants industry, a classification that denotes its sensitivity to discretionary consumer spending patterns and economic cycles. The company demonstrates a substantial operational footprint with a market capitalization of $818.64M, generating annual revenue of $1.40B, and employing a workforce of 22,230 individuals. These financial metrics indicate that while the company possesses a significant revenue base supporting a large employee count, its market valuation relative to sales suggests a position where the market prices the business at a modest multiple, reflecting the cyclical nature of the restaurant sector and the competitive dynamics inherent in the industry.
財務健全性
The company reported a revenue of $1.40B over the trailing twelve months, with a net income of $48.81M and an EBITDA of $126.63M. The substantial disparity between the $1.40B revenue figure and the $48.81M net income reveals a cost structure where operating expenses, including cost of goods sold and overhead, consume a significant portion of top-line growth, leaving a compressed bottom line. The business generated free cash flow of $33.56M, which provides a measure of financial flexibility for capital allocation, debt servicing, and potential operational investments despite the heavy asset base typical of restaurant operations. The gross margin stands at 15.5%, the operating margin is 3.7%, and the profit margin is 3.5%; these figures indicate a low-margin business model where efficiency in supply chain management and labor control is critical to profitability. On the balance sheet, the company holds $23.78M in cash against total debt of $490.76M, resulting in a debt-to-equity ratio of 134.02%, which characterizes a highly leveraged capital structure that increases sensitivity to interest rate fluctuations. The current ratio is 0.40, indicating that current assets are insufficient to cover current liabilities without relying on external financing or asset liquidation, highlighting potential short-term liquidity constraints. Return on Equity is 13.3% and Return on Assets is 3.0%, metrics that respectively demonstrate how effectively management utilizes shareholder capital and how efficiently the company utilizes its total asset base to generate earnings.
バリュエーション評価
The trailing P/E ratio is 17.88 while the forward P/E is 14.30, implying that the market expects earnings growth in the future that would justify a lower valuation multiple compared to historical performance. The price-to-book ratio is 2.23, suggesting that the market is willing to pay a premium over the company's book value, likely reflecting brand intangibles or growth expectations despite the cyclical industry headwinds. Alternative valuation metrics such as the price-to-sales ratio of 0.59 and an EV/EBITDA of 10.15 provide a different perspective, indicating that the company trades at a relatively low multiple of sales and enterprise value relative to earnings before interest, taxes, depreciation, and amortization. The stock has traded between a 52-week low of $28.46 and a 52-week high of $47.02, meaning the current market price sits within this established trading range, bounded by recent volatility extremes. With a beta of 1.32, the stock exhibits price volatility that is significantly higher than the broader market, moving 32% more than the benchmark index in response to market fluctuations, which adds a layer of risk for price-sensitive investors.
Growth & Income
Revenue growth for the year-over-year period is 3.2%, whereas earnings growth is marked as N/A, indicating that the specific year-over-year change in net income is not disclosed or available in the current dataset. The absence of a reported earnings growth figure alongside the positive revenue growth suggests that revenue expansion is currently the primary driver of activity rather than immediate earnings acceleration. Regarding income distribution, the company has a dividend yield of N/A and a payout ratio of 0.0%, which signifies that the entity does not distribute cash dividends to shareholders and retains all earnings for internal reinvestment. This approach to capital management prioritizes retaining capital for growth initiatives or balance sheet strengthening over providing current income to investors. The overall growth and income profile is defined by modest revenue expansion without dividend support, positioning the company as a growth-oriented asset within the restaurant sector that relies on operational leverage rather than income yield.