Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
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| Flanigans Enterprises Inc.BDL · shops | |
|---|---|
| Grade |  Bsecond fifth of 258 graded peers; percentile 34.2, sampling error 2.9 points; lower is stronger |
| Rank | 89 of 258 |
| Profitability | Dpercentile 64.0 |
| Solvency | Bpercentile 31.4 |
| Growth and financing | Bpercentile 37.0 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $140.6M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filer · fortress balance sheetnot computable: short runway, distress |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Dec 19, 2025294 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $46.522026-10-07; market equity $86.5M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Dec 19, 2025; the document on sec.gov.
Flanigan’s Enterprises, Inc., a Florida corporation, together with its subsidiaries (“we”, “our”, “ours” and “us” as the context requires), (i) operates 32 units, consisting of restaurants, package liquor stores, combination restaurant/package liquor stores and a sports bar that we either own or have operational control over and partial ownership in; and (ii) franchises an additional 5 units, consisting of 2 restaurants (one of which we operate) and 3 combination restaurant/package liquor stores. The table below provides information concerning the type (i.e. restaurant, sports bar, package liquor store or combination restaurant/package liquor store) and ownership of the units (i.e.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 64.0 | |||||||
| Gross profitability | not computable | 42.6% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | not computable | 10.9% | |||||
| latest aligned inputs end 2022-10-01; latest annual assets end 2025-09-27 | |||||||
| Accruals ratio | (3.9%) | [1,5-7] | (4.9%) | 64.0 | 287 | 2025-09-27 | |
| Gross margin stability, five years | not computable | 1.2 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 31.4 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 3.61 | [1,8-13] | 1.92 | 28.0 | 208 | 2025-09-27 | |
| Net debt to EBITDA | not computable | 1.84x | |||||
| latest aligned inputs end 2022-10-01; latest annual assets end 2025-09-27 | |||||||
| Interest coverage | not computable | 2.26x | |||||
| latest aligned inputs end 2023-09-30; latest annual assets end 2025-09-27 | |||||||
| Current ratio | 1.69x | [8-9] | 1.37x | 34.7 | 295 | 2025-09-27 | |
| Growth and financing, sleeve percentile 37.0 | |||||||
| Revenue growth, three-year compound | 9.1% | [2,14-16] | 1.5% | 17.9 | 269 | 2025-09-27 | |
| Free cash flow growth, three-year compound | 64.1% | [6,17-23] | 5.6% | 8.2 | 147 | 2025-09-27 | |
| Reinvestment rate | not computable | 7.3% | |||||
| latest aligned inputs end 2024-09-28; latest annual assets end 2025-09-27 | |||||||
| Asset growth, three years | (1.6%) | [1,7,24-25] | 3.4% | 68.3 | 272 | 2025-09-27 | |
| Net share issuance, one year | 0.0% | [26-27] | (0.6%) | 53.6 | 211 | 2025-12-18 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.136; sampling error 2.9 percentile points on 258 peers.
Among 258 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 84 | Home Depot, Inc. (HD) Home Depot, Inc. (HD) Bsecond fifth; percentile 32.3 NYSE · Retail-Lumber & Other Building Materials Dealers market equity $294.8B; last close $295.47 No active warnings; 12 of 14 inputs | 32.3 | B | |
| 85 | Coupang, Inc. (CPNG) Coupang, Inc. (CPNG) Bsecond fifth; percentile 32.7 NYSE · Retail-Catalog & Mail-Order Houses last close $15.41 Warnings: fortress balance sheet; 9 of 14 inputs | 32.7 | B | fortress balance sheet |
| 86 | Pool Corp. (POOL) Pool Corp. (POOL) Bsecond fifth; percentile 33.1 Nasdaq · Wholesale-Misc Durable Goods market equity $5.8B; last close $158.13 No active warnings; 10 of 14 inputs | 33.1 | B | |
| 87 | Burlington Stores, Inc. (BURL) Burlington Stores, Inc. (BURL) Bsecond fifth; percentile 33.5 NYSE · Retail-Department Stores market equity $17.4B; last close $276.91 No active warnings; 8 of 14 inputs | 33.5 | B | |
| 88 | Weyco Group Inc. (WEYS) Weyco Group Inc. (WEYS) Bsecond fifth; percentile 33.9 Nasdaq · Wholesale-Apparel, Piece Goods & Notions market equity $496.8M; last close $51.88 No active warnings; 9 of 14 inputs | 33.9 | B | |
| 89 | Flanigans Enterprises Inc. (BDL) Flanigans Enterprises Inc. (BDL) Bsecond fifth; percentile 34.2 NYSE · Retail-Eating Places market equity $86.2M; last close $46.52 Warnings: late filer, fortress balance sheet; 7 of 14 inputs | 34.2 | B | late filer, fortress balance sheet |
| 90 | Live Ventures Inc. (LIVE) Live Ventures Inc. (LIVE) Bsecond fifth; percentile 34.6 Nasdaq · Retail-Miscellaneous Retail market equity $23.7M; last close $7.88 No active warnings; 9 of 14 inputs | 34.6 | B | |
| 91 | Cencora, Inc. (COR) Cencora, Inc. (COR) Bsecond fifth; percentile 35.0 NYSE · Wholesale-Drugs, Proprietaries & Druggists' Sundries market equity $61.3B; last close $321.30 No active warnings; 11 of 14 inputs | 35.0 | B | |
| 92 | Alta Equipment Group Inc. (ALTG) Alta Equipment Group Inc. (ALTG) Bsecond fifth; percentile 35.6 NYSE · Wholesale-Industrial Machinery & Equipment last close $6.34 No active warnings; 10 of 14 inputs | 35.6 | B | |
| 93 | Alta Equipment Group Inc. (ALTG-PA) Alta Equipment Group Inc. (ALTG-PA) Bsecond fifth; percentile 35.6 NYSE · Wholesale-Industrial Machinery & Equipment No active warnings; 10 of 14 inputs | 35.6 | B | |
| 94 | Reborn Coffee, Inc. (REBN) Reborn Coffee, Inc. (REBN) Bsecond fifth; percentile 36.2 Nasdaq · Retail-Eating Places market equity $16.3M; last close $1.87 Warnings: dilution, late filer, fortress balance sheet; 7 of 14 inputs | 36.2 | B | dilution, late filer, fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | C | 45.9 | 2204 |
| sector peers, equal sleeves (the grade) | B | 34.2 | 258 |
| same exchange, equal sleeves | C | 41.9 | 984 |
| sector peers, equal inputs | A/B | 21.4 | 258 |
Each letter is one fifth of the 258 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-07 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 49.5% | (0.1%) | 87 | hotter than 87 of 100 peers |
| Distance from 52-week high | (10.4%) | (24.1%) | 80 | closer to its high than 80 of 100 peers |
| EBIT to enterprise value | 13.7% | 5.3% | 91 | pricier than 9 of 100 peers |
| Free cash flow yield | 5.4% | 4.2% | 60 | pricier than 40 of 100 peers |
| Book value to price | 0.81 | 0.36 | 75 | pricier than 25 of 100 peers |
| Sales to price | 2.38 | 1.75 | 62 | pricier than 38 of 100 peers |
| Composite equity issuance, five years | (9.6%) | (16.7%) | 62 | more equity-funded than 62 of 100 peers |
| Relative strength against the sector, log excess return | 0.43 | 0.02 | 87 | ahead of 87 of 100 peers |
Inputs: market equity $86.2M; EBIT $8.7M; free cash flow $4.7M; book equity $69.8M; sales $205.2M; debt $20.9M; cash $43.1M[28].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-09-27 | ||
|---|---|---|
| Return on assets above zero | 3.5% | ✓ pass[5,7] |
| Operating cash flow above zero | $10.5M | ✓ pass[6] |
| Return on assets improved | 1.2 pts | ✓ pass[5,7,24,29] |
| Operating cash flow exceeds net income | $5.5M | ✓ pass[5-6] |
| Long-term leverage fell | (0.7 pts) | ✓ pass[1,7,24,30-31] |
| Current ratio improved | 10.6 pts | ✓ pass[8-9,32-33] |
| No new shares issued | 0.0% | ✓ pass[26-27] |
| Gross margin improved | n/a | |
| Asset turnover improved | 16.0 pts | ✓ pass[2,7,14,24] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[34-38] |
| Months of runway | not finite |
| the four latest operating-cash-flow quarters are not consecutive | |
| Late filings, two years | 1 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 59 |
| 10-Q received Aug 11, 2026 | |
| Median daily dollar volume | $1.3M |
| 63 sessions | |
| Days since newest grade input | 294 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $140.6M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:Revenues | $205.2M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $42.1M | 2022-10-01 | 2023-01-18 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $25.7M | 2022-10-01 | 2023-01-18 | 10-K | filing · viewer · series |
| 5 | net income | us-gaap:NetIncomeLoss | $5.0M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 6 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $10.5M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 7 | assets | us-gaap:Assets | $142.1M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 8 | current assets | us-gaap:AssetsCurrent | $30.6M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 9 | current liabilities | us-gaap:LiabilitiesCurrent | $18.1M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 10 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $64.7M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 11 | operating income | us-gaap:OperatingIncomeLoss | $8.7M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 12 | book equity | us-gaap:StockholdersEquity | $65.2M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 13 | liabilities | us-gaap:Liabilities | $61.5M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:Revenues | $187.2M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:Revenues | $174.4M | 2023-09-30 | 2024-12-27 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:Revenues | $158.1M | 2022-10-01 | 2023-12-29 | 10-K | filing · viewer · series |
| 17 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $5.8M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 18 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $6.6M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 19 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $3.4M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 20 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $8.5M | 2023-09-30 | 2024-12-27 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $13.2M | 2023-09-30 | 2024-12-27 | 10-K | filing · viewer · series |
| 22 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $10.5M | 2022-10-01 | 2023-12-29 | 10-K | filing · viewer · series |
| 23 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $9.4M | 2022-10-01 | 2023-01-18 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $145.8M | 2023-09-30 | 2024-12-27 | 10-K | filing · viewer · series |
| 25 | assets | us-gaap:Assets | $147.5M | 2022-10-01 | 2023-12-29 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 1,858,647 | 2025-12-18 | 2025-12-19 | 10-K | filing · viewer · series |
| 27 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 1,858,647 | 2024-12-26 | 2024-12-27 | 10-K | filing · viewer · series |
| 28 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 1,858,647 | 2026-08-10 | 2026-08-11 | 10-Q | filing · viewer · series |
| 29 | net income | us-gaap:NetIncomeLoss | $3.4M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 30 | long term debt | us-gaap:LongTermDebtNoncurrent | $19.1M | 2025-09-27 | 2025-12-19 | 10-K | filing · viewer · series |
| 31 | long term debt | us-gaap:LongTermDebtNoncurrent | $20.5M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 32 | current assets | us-gaap:AssetsCurrent | $31.5M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 33 | current liabilities | us-gaap:LiabilitiesCurrent | $19.9M | 2024-09-28 | 2025-12-19 | 10-K | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $12.8M | 2026-06-27 | 2026-08-11 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $7.1M | 2026-03-28 | 2026-05-12 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $4.9M | 2025-12-27 | 2026-02-10 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $7.2M | 2025-06-28 | 2026-08-11 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $5.7M | 2025-03-29 | 2026-05-12 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 34.2 is 5.8 points from the nearest band edge; sampling error is 2.9 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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