Nathans FAMOUS, Inc. (NATH) intrinsic value & 10-year financials
Nathans FAMOUS, Inc. (NATH) has a Graham intrinsic value of $102.52 per share. At $101.90 on Oct 17, 2026, the stock trades 1% below that value. Over the last 10 fiscal years revenue grew 6.0% a year to $162.1M, with an average return on invested capital of 373.1%.
- Graham intrinsic value
- $102.52
- Share price (Oct 17, 2026)
- $101.90
- Price vs Graham value
- 1% below
- Market cap
- $420.2M
- Revenue (FY2026)
- $162.1M
- Revenue growth (10-yr CAGR)
- 6.0%
- ROIC (10-yr avg)
- 373.1%
- Free cash flow (FY2026)
- $17.9M
NATH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $162.1M | $20.0M | $4.85 | $17.9M | 18.6% | 201.6% |
| FY2025 | $148.2M | $24.0M | $5.87 | $25.0M | 24.6% | 264.6% |
| FY2024 | $138.6M | $19.6M | $4.80 | $19.7M | 23.5% | 225.7% |
| FY2023 | $130.8M | $19.6M | $4.80 | $19.2M | 26.3% | 256.7% |
| FY2022 | $114.9M | $13.6M | $3.30 | $15.8M | 26.0% | 214.1% |
| FY2021 | $75.8M | $11.1M | $2.69 | $11.2M | 33.6% | 167.7% |
| FY2020 | $103.3M | $13.4M | $3.19 | $11.5M | 26.3% | 368.0% |
| FY2019 | $101.8M | $21.5M | $5.09 | $10.7M | 27.5% | 1508.9% |
| FY2018 | $104.2M | $2.6M | $0.62 | $18.3M | 26.0% | 317.5% |
| FY2017 | $96.3M | $7.5M | $1.78 | $9.3M | 27.3% | 206.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NATHANS FAMOUS, INC. has demonstrated mature, steady growth, with revenue compounding at 6.0% annually over the past decade.
NATHANS FAMOUS, INC. has historically struggled to out-earn its cost of capital, averaging just 3.7% ROIC.
NATHANS FAMOUS, INC. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, NATHANS FAMOUS, INC. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $102.52 per share.