Rave Restaurant GROUP, Inc. (RAVE) intrinsic value & 10-year financials
Rave Restaurant GROUP, Inc. (RAVE) has a Graham intrinsic value of $4.02 per share. At $2.18 on Oct 17, 2026, the stock trades 46% below that value. Over the last 10 fiscal years revenue shrank 16.5% a year to $12.0M, with an average return on invested capital of 20.2%.
- Graham intrinsic value
- $4.02
- Share price (Oct 17, 2026)
- $2.18
- Price vs Graham value
- 46% below
- Market cap
- $31.7M
- Revenue (FY2025)
- $12.0M
- Revenue growth (10-yr CAGR)
- -16.5%
- ROIC (10-yr avg)
- 20.2%
- Free cash flow (FY2025)
- $3.3M
RAVE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $12.0M | $2.7M | $0.19 | $3.3M | — | 24.7% |
| FY2024 | $12.2M | $2.5M | $0.17 | $2.7M | — | 30.2% |
| FY2023 | $11.9M | $1.6M | $0.10 | $2.6M | — | 24.5% |
| FY2022 | $10.7M | $8.0M | $0.45 | $1.3M | — | 239.3% |
| FY2021 | $8.6M | $1.5M | $0.09 | $1.3M | — | 534.3% |
| FY2020 | $10.0M | -$4.2M | -$0.28 | -$416.0K | — | -266.6% |
| FY2019 | $12.3M | -$750.0K | -$0.05 | $578.0K | — | -21.2% |
| FY2018 | $15.1M | $1.9M | $0.00 | -$5.0M | — | 113.0% |
| FY2017 | $57.1M | -$12.5M | -$0.00 | — | — | -369.1% |
| FY2016 | $60.8M | -$8.9M | -$0.00 | — | — | -107.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
RAVE RESTAURANT GROUP, INC. is facing top-line stagnation, with revenue contracting over the decade.
RAVE RESTAURANT GROUP, INC. has historically struggled to out-earn its cost of capital, averaging just 6.6% ROIC.
Over the decade, RAVE RESTAURANT GROUP, INC. shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, RAVE RESTAURANT GROUP, INC. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4.02 per share.