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Noble Roman's
(OTC:NROM)
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Rating:57Neutral
Price Target:
$0.60
▼(-6.88% Downside)
Action:Reiterated
Date:09/17/26
The score is driven primarily by improving operating performance and cash generation, but is held back by still-elevated leverage and a volatile multi-year profitability/cash flow history. Technically, near-term momentum is weak, while valuation appears modest based on the P/E.
Positive Factors
Improving profitability and revenue growth
Recent operating performance shows meaningful improvement, with faster revenue growth alongside positive net and EBITDA margins. If this expansion persists, it can strengthen earnings capacity, support reinvestment, and improve the company’s ability to sustain its branded foodservice programs.
Negative Factors
Elevated leverage
Leverage remains a material constraint despite improvement from prior elevated levels. Debt dependence can reduce financial flexibility, increase sensitivity to weaker operating results or higher costs, and limit the funds available for growth initiatives and other capital allocation priorities.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability and revenue growth
Recent operating performance shows meaningful improvement, with faster revenue growth alongside positive net and EBITDA margins. If this expansion persists, it can strengthen earnings capacity, support reinvestment, and improve the company’s ability to sustain its branded foodservice programs.
Read all positive factors
Noble Roman's (NROM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.72M
Dividend YieldN/A
Average Volume (3M)27.71K
Price to Earnings (P/E)11.6
Beta (1Y)-0.24
Revenue Growth7.98%
EPS Growth106.30%
CountryUS
Employees152
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.05
Shares Outstanding22,707,748
10 Day Avg. Volume15,696
30 Day Avg. Volume27,706
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.27
Price to Sales (P/S)0.47
P/FCF Ratio7.06
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Noble Roman's Business Overview & Revenue Model
Company Description
Noble Roman's, Inc. specializes in establishing and supporting foodservice operations across a spectrum of formats, encompassing both traditional independent restaurants and various non-traditional settings. The company expands its reach through a...
How the Company Makes Money
Noble Roman's primarily makes money by monetizing its brands through franchising and licensing rather than relying mainly on company-owned restaurant sales. Key revenue streams include: (1) Royalties and ongoing franchise/licensing fees: Franchise...
Noble Roman's Earnings Call Summary
Earnings Call Date:Nov 14, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The call highlighted significant growth in revenue, net income, and margins, along with a successful expansion of franchise units. However, challenges such as a drop in consumer sentiment, commodity price fluctuations, and refinancing uncertainties posed concerns.Positive Updates
Increase in Net Income Before Taxes
Net income before taxes increased to $578,918 for the quarter, up from $193,314 in 2024.
Negative Updates
Drop in Consumer Sentiment
Consumer sentiment has dropped to a 3-year low, down 29.9% compared to last year.
Read all updates
Q3-2025 Updates
Positive
Negative
Increase in Net Income Before Taxes
Net income before taxes increased to $578,918 for the quarter, up from $193,314 in 2024.
Read all positive updates
Company Guidance
During the call, Noble Roman's provided a detailed overview of their financial performance metrics for the third quarter of fiscal year 2025. The company reported a net income before taxes of $578,918, a significant increase from $193,314 in the same period of 2024. Total revenue rose by 6.8% compared to the previous year, with same-store sales in the Craft Pizza & Pub segment up by 4.2%. Margins at these locations increased from 7.9% to 12.8%. The convenience store program saw a 14.8% rise in margin contribution, reaching approximately $1.1 million, with the margin rate for this segment climbing to 73.4% from 65.2% the previous year. The adjusted EBITDA for the trailing twelve months increased from over $3 million at the end of 2024 to approximately $3,825,000 at the end of Q3 2025. The company also discussed plans to open about 27 new units in Q4 and highlighted ongoing refinancing efforts, with current terms secured until June 2026. Despite challenges with consumer sentiment and external factors like the government shutdown, the company has maintained a value-oriented strategy and plans to introduce new products to enhance margins.Noble Roman's Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
46
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.65M | 16.46M | 15.15M | 14.37M | 14.45M | 13.88M |
| Gross Profit | 5.47M | 5.21M | 4.65M | 5.54M | 3.05M | 4.38M |
| EBITDA | 3.71M | 4.09M | 1.98M | 3.58M | 1.37M | 3.07M |
| Net Income | 1.09M | 1.17M | -3.17K | 1.46M | -1.31M | 509.46K |
Balance Sheet | ||||||
| Total Assets | 15.59M | 15.89M | 16.77M | 18.48M | 18.34M | 19.38M |
| Cash, Cash Equivalents and Short-Term Investments | 1.10M | 533.67K | 710.23K | 872.34K | 785.52K | 1.26M |
| Total Debt | 9.44M | 9.56M | 11.57M | 12.89M | 14.86M | 14.72M |
| Total Liabilities | 11.78M | 12.46M | 14.55M | 16.29M | 17.63M | 16.48M |
| Stockholders Equity | 3.81M | 3.43M | 2.22M | 2.19M | 710.21K | 2.89M |
Cash Flow | ||||||
| Free Cash Flow | 1.66M | 1.10M | 808.66K | 1.57M | -477.99K | 69.15K |
| Operating Cash Flow | 1.82M | 1.24M | 896.97K | 1.57M | 29.58K | 1.52M |
| Investing Cash Flow | -155.78K | -144.20K | -88.30K | 13.82K | -507.57K | -1.45M |
| Financing Cash Flow | -1.20M | -1.28M | -887.41K | -1.50M | 0.00 | 1.39B |
Noble Roman's Technical Analysis
Positive
0.64
Price Trends
0.62
Negative
0.55
Positive
0.44
Positive
Market Momentum
-0.02
Positive
45.59
Neutral
56.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NROM, the sentiment is Positive. The current price of 0.64 is above the 20-day moving average (MA) of 0.58, above the 50-day MA of 0.62, and above the 200-day MA of 0.44, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 45.59 is Neutral, neither overbought nor oversold. The STOCH value of 56.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NROM.
Noble Roman's Risk Analysis
Noble Roman's disclosed 14 risk factors in its most recent earnings report. Noble Roman's reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Noble Roman's Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $33.40M | 11.50 | 17.95% | ― | 7.23% | 8.40% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $15.63M | 7.11 | 6.62% | ― | -5.81% | 78.41% | |
57 Neutral | $12.72M | 11.61 | 30.61% | ― | 7.98% | 106.30% | |
49 Neutral | $11.04M | -18.60 | -8.98% | ― | -11.44% | 71.51% | |
41 Neutral | $16.34M | -5.12 | -9.79% | 5.09% | -9.48% | 77.31% |
* Consumer Cyclical Sector Average
NROM
Noble Roman's
0.57
0.38
200.00%
ARKR
Ark Restaurants
4.51
-2.62
-36.73%
GTIM
Good Times Restaurants
1.50
-0.15
-9.09%
RAVE
Rave Restaurant Group
2.30
-0.91
-28.35%
BTBD
BT Brands
1.86
-0.15
-7.46%
Noble Roman's Corporate Events
Executive/Board ChangesShareholder Meetings
Noble Roman’s Shareholders Reinforce Board and Auditor Oversight
Positive
Sep 16, 2026
Noble Roman’s, Inc. held its 2026 Annual Meeting of Shareholders on September 15, 2026, with 52.44% of outstanding common shares represented, establishing a quorum for corporate actions. Shareholder participation underscored ongoing engageme...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.