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Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 1 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Ranked against 27 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCD | $182.1B | 21.5× | 17.3× | 6.8× | 3.7% | — | 31.9% | -478% | 22.0% | 3.1× | 1,221 |
| YUM | $42.2B | 27.9× | 14.9× | 5.1× | 8.8% | 69.8% | 19.0% | -21.3% | -21.4% | -0.2× | 409 |
| CMG | $40.3B | 28.0× | 17.4× | 3.4× | 5.4% | — | 12.9% | 54.3% | 54.3% | -0.1× | 337 |
| QSR | $25.5B | 31.1× | 16.1× | 2.7× | 12.2% | — | 11.4% | 29.6% | 6.4% | 5.5× | 136 |
| DRI | $24.9B | 21.2× | 12.6× | 1.9× | 9.4% | 20.3% | 9.1% | 54.7% | 26.6% | 1.0× | 315 |
| YUMC | $15.2B | 18.0× | 8.5× | 1.3× | 4.4% | — | 7.9% | 17.3% | 17.2% | -0.3× | 149 |
| ARMK | $14.2B | 44.2× | 14.9× | 0.8× | 6.4% | — | 1.8% | 10.4% | 3.8% | 3.8× | 120 |
| TXRH | $12.0B | 30.0× | 17.4× | 2.0× | 9.4% | — | 7.0% | 28.4% | 28.4% | -0.2× | 132 |
| EAT | $8.8B | 19.5× | 10.4× | 1.5× | 7.9% | — | 8.4% | 110% | 110% | -0.1× | 110 |
| CAVA | $6.9B | 108.8× | 51.0× | 5.8× | 22.4% | — | 5.4% | 8.2% | 8.2% | -2.2× | 98 |
| CAKE | $5.6B | 36.8× | 20.3× | 1.5× | 4.7% | — | 4.0% | 34.0% | 13.9% | 1.4× | 76 |
| WING | $3.9B | 23.4× | 24.2× | 5.6× | 11.4% | — | 25.0% | -23.7% | 36.9% | 5.0× | 73 |
| CBRL | $1.6B | 50.0× | 16.9× | 0.5× | -4.7% | 69.1% | 1.0% | 6.6% | 3.9% | 2.7× | 48 |
| ARCO | $1.4B | 6.7× | 4.1× | 0.3× | 4.7% | 98.1% | 4.5% | 27.5% | 11.1% | 1.4× | 25 |
| BJRI | $1.3B | 28.9× | 11.3× | 0.9× | 3.1% | 74.7% | 3.5% | 13.3% | 10.8% | 0.5× | 31 |
| BH | $1.3B | — | 20.7× | 3.2× | 9.2% | 59.2% | -9.5% | -7.2% | -4.9% | -0.4× | 13 |
| BLMN | $905M | 105.7× | 7.6× | 0.2× | 0.1% | 70.2% | 0.2% | 2.5% | 0.7% | 3.4× | 35 |
| FWRG | $786M | 41.1× | 11.1× | 0.6× | 20.3% | — | 1.6% | 3.1% | 2.1% | 2.8× | 32 |
| PZZA | $619M | 20.9× | 7.2× | 0.3× | -0.3% | — | 1.5% | -6.9% | 11.3% | 3.8× | 47 |
| LOCO | $468M | 17.1× | 8.8× | 0.9× | 3.6% | — | 5.4% | 9.1% | 7.7% | 0.8× | 23 |
| DIN | $450M | 32.0× | — | 0.5× | 8.2% | 40.9% | 1.9% | -6.2% | 1.9% | — | 26 |
| KRUS | $424M | — | 40.6× | 1.5× | 18.9% | — | -0.7% | -0.8% | -0.8% | -5.1× | 16 |
| NATH | $418M | 21.0× | 14.2× | 2.6× | 9.4% | 34.3% | 12.4% | -141% | 59.0% | 0.8× | 22 |
| PTLO | $360M | 18.4× | 9.4× | 0.5× | 3.0% | — | 2.6% | 4.1% | 2.4% | 4.5× | 33 |
| PLAY | $283M | — | 4.9× | 0.1× | -1.4% | 85.7% | -2.3% | -53.4% | -3.0% | 4.1× | 20 |
| BDL | $111M | 22.1× | — | 0.5× | 9.6% | — | 2.5% | 7.7% | 5.9% | — | 1 |
Peers = companies sharing BDL's sector (Retail-Eating Places) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 22% of free cash flow, leaving room to grow it and fund buybacks. Last year: $1.0M dividends + $0 buybacks = $1.0M returned on $4.7M FCF.
2 consecutive years of dividend increases · -14%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $59.97 today, the market must believe free cash flow compounds 11.8%/yr for a decade (off $3.9M on the 3-yr avg basis).
The market's 11.8% is more optimistic than its 9-yr track record.
Default is 8.7% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.00B shares (market data) · net debt $20.6M
mean 20.9% · volatility σ 39% · implied rate exceeded in 4/6 yrs
Central path = implied 11.8%/yr growth; shaded band = ±1σ (39%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$1.5M of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2025-09-27 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.6% on $20.6M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2023 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $205.2M 100.0% | $187.2M 100.0% | $174.4M 100.0% | — | $158.1M 100.0% | $137.3M 100.0% | $113.0M 100.0% | $116.2M 100.0% | $113.5M 100.0% | $106.8M 100.0% |
| Selling, General & Admin | $5.5M 2.7% | $5.3M 2.8% | $4.7M 2.7% | — | $26.6M 16.8% | $20.3M 14.8% | $19.9M 17.6% | $20.8M 17.9% | $19.9M 17.6% | $18.7M 17.5% |
| Total Operating Expenses | $196.5M 95.7% | $181.4M 96.9% | $167.4M 96.0% | — | $151.2M 95.6% | $128.7M 93.7% | $110.1M 97.4% | $109.9M 94.6% | $106.1M 93.4% | $100.6M 94.1% |
| Operating Income | $8.7M 4.3% | $5.8M 3.1% | $7.0M 4.0% | — | $6.9M 4.4% | $8.7M 6.3% | $2.9M 2.6% | $6.3M 5.4% | $7.4M 6.6% | $6.3M 5.9% |
| Interest Expense | $957K 0.5% | $1.0M 0.5% | $1.1M 0.6% | — | $757K 0.5% | $938K 0.7% | $836K 0.7% | $708K 0.6% | $753K 0.7% | $600K 0.6% |
| Other Income (Expense), net | -$106K -0.1% | -$255K -0.1% | -$959K -0.5% | — | $2.9M 1.8% | $9.3M 6.8% | -$787K -0.7% | -$52K -0.0% | -$683K -0.6% | -$498K -0.5% |
| Pretax Income | $8.6M 4.2% | $5.6M 3.0% | $6.1M 3.5% | — | $9.8M 6.2% | $17.9M 13.1% | $2.1M 1.9% | $6.3M 5.4% | $6.8M 6.0% | $5.8M 5.4% |
| Income Tax Expense | $622K 0.3% | $286K 0.2% | $649K 0.4% | — | $763K 0.5% | $1.2M 0.9% | -$60K -0.1% | $887K 0.8% | $1.4M 1.2% | $1.4M 1.3% |
| Net Income | $5.0M 2.5% | $3.4M 1.8% | $5.4M 3.1% | $9.0M | $6.3M 4.0% | $11.8M 8.6% | $1.1M 1.0% | $3.6M 3.1% | $3.7M 3.2% | $3.0M 2.8% |
| Per Share | ||||||||||
| EPS (Basic) | $2.71 | $1.81 | $2.15 | — | $3.40 | $6.34 | — | — | — | — |
| EPS (Diluted) | $2.71 | $1.81 | $2.15 | — | $3.40 | $6.34 | — | — | — | — |
| Weighted Avg Shares (Basic) | 1.9M | 1.9M | 1.9M | — | 1.9M | 1.9M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 1.9M | 1.9M | 1.9M | — | 1.9M | 1.9M | — | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-19 | 4 co-filers Chief Executive Officer | Open-market buy | 76 | $31.46 | $2k |
| 2026-05-18 | 4 co-filers Chief Executive Officer | Open-market buy | 975 | $32.00 | $31k |
| 2026-05-18 | 4 co-filers Chief Executive Officer | Open-market buy | 924 | $31.50 | $29k |
| 2026-05-15 | 4 co-filers Chief Executive Officer | Open-market buy2d late | 25 | $30.00 | $750 |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 2025-12-29 | 4 co-filers CEO, President | Open-market buy | 866 | $30.00 | $26k |
| 2025-12-26 | 4 co-filers CEO, President | Open-market buy2d late | 116 | $29.50 | $3k |
| 2025-12-26 | 4 co-filers CEO, President | Open-market buy2d late | 18 | $29.75 | $536 |
| 2025-12-26 | 4 co-filers CEO, President | Open-market buy2d late | 866 | $29.94 | $26k |
EOD close · as of 2026-10-30
Where each multiple sits in its own 15-yr range · 95th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 15-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 8% against ROIC 6% — 2% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 5.2× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2021 | FY2022 | FY2023 | FY2023 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 17.9 | 17.6 | 14.8 | 16.8 | — | 2.7 | 2.8 | 2.7 |
| Operating Income | 5.4 | 2.6 | 6.3 | 4.4 | — | 4.0 | 3.1 | 4.3 |
| Income Tax | 0.8 | -0.1 | 0.9 | 0.5 | — | 0.4 | 0.2 | 0.3 |
| Net Income | 3.1 | 1.0 | 8.6 | 4.0 | — | 3.1 | 1.8 | 2.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BDL: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -8.06pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2021 | 4.0% | 8.7% (today's — no rate published for this year) | -4.7pts |
| FY2022 | 11.0% | 7.2% | 3.8pts |
| FY2023 | 8.8% | 7.8% | 1.0pts |
| FY2023 | 5.9% | 7.8% | -1.9pts |
| FY2024 | 4.8% | 7.1% | -2.3pts |
| FY2025 | 7.2% | 7.3% | -0.1pts |
| Now | 5.9% | 8.7% | -2.8pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | not reported | 5.9% | 2.8% |
| FY2018 | not reported | 6.6% | 3.2% |
| FY2019 | not reported | 5.4% | 3.1% |
| FY2021 | not reported | 2.6% | 1.0% |
| FY2022 | not reported | 6.3% | 8.6% |
| FY2023 | not reported | 4.4% | 4.0% |
| FY2023 | not reported | 4.0% | 3.1% |
| FY2024 | not reported | 3.1% | 1.8% |
| FY2025 | not reported | 4.3% | 2.5% |
Return on equity (8%) and return on invested capital (6%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
The spread was positive in only 2 of the last 5 years.
Cash conversion of 0.54x sits below the level that would make the earnings clearly cash-backed.
Conversion has deteriorated: 0.34x over three years against 0.54x over 5.
Missing from our data, so excluded from this answer: share_based_compensation.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-09-27 (10-K); cash from the 2025-09-27 balance sheet; FCF from FY2025. No cash figure on the matching balance sheet, so no coverage line is drawn.
Balance sheet at 2025-09-27. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
At $59.97, free cash flow must compound 14.22%/yr for 10 years. It has done -6.43%/yr over 5 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2022 | 14.9% | 14.2% |
| FY2023 | −13.5% | 14.2% |
| FY2023 | −172.3% | 14.2% |
| FY2025 | 46.9% | 14.2% |
The implied rate has been matched or beaten in 2 of the last 4 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $5M | $5M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $5M | $11M |
| Operating cash flow | $11M | $11M |
| Capex | −$6M | $5M |
| Free cash flow | $5M | $5M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2022 | 21.5% | not reported | not reported |
| FY2023 | 15.2% | not reported | not reported |
| FY2024 | 7.3% | not reported | not reported |
| FY2025 | 9.6% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2021 | -6.8 percent |
| FY2022 | -1.7 percent |
| FY2023 | -2.8 percent |
| FY2023 | not reported |
| FY2023 | -2.1 percent |
| FY2024 | -2.3 percent |
| FY2025 | -3.9 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.