NATHANS FAMOUS, INC. (NATH) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Retail / Consumer Discretionary · as of Jun 28, 2026
NATHANS FAMOUS, INC. (NATH)
A forensic read on NATHANS FAMOUS, INC. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
A · High-quality compounder
Forensic grade
Safe
Financial health
7.5
Altman Z-score
Clean
Earnings quality
4
Forensic signals
20.9
P / E (ttm)
23.4%
ROE
$418M
Market cap
1.97%
Dividend yield
NATHANS FAMOUS, INC. earns a A (High-quality compounder) forensic quality grade, and its Altman Z-score is 7.5, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+42.8%Accruals ratio.Net operating assets grew +42.8% relative to their average in FY2026 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by +23% of net operating assets.
stoppedShareholder returns — halted.Capital returns have STOPPED — $9M of buybacks + dividends in FY2023, but ~$0 in FY2024. A halt usually means the company is conserving cash; understand why before reading it as neutral.
+0.3%/yrShare-count dilution.Diluted share count changed +1% over the last 3 years to FY2026 (+0.3%/yr). Roughly flat — buybacks are about offsetting stock comp, not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
-100%Dividend — cut.The payout was CUT ~100% in FY2016 (from FY2015). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Net Margin12.4%
Free Cash Flow$17.9M
Latest Revenue$162.1M
Revenue Growth YoY+9.4%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on NATHANS FAMOUS, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about NATH's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown