Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
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| ONE Group Hospitality, Inc.STKS · shops | |
|---|---|
| Grade |  Bsecond fifth of 258 graded peers; percentile 26.1, sampling error 2.9 points; lower is stronger |
| Rank | 68 of 258 |
| Profitability | A/Bpercentile 17.8 |
| Solvency | D/Epercentile 80.8 |
| Growth and financing | Bpercentile 25.0 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $884.2M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filernot computable: distress |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Mar 19, 2026204 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $1.512026-10-08; market equity $48.0M; 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 Mar 19, 2026; the document on sec.gov.
We are an international restaurant company that develops, owns and operates, manages, franchises and licenses upscale and polished casual, high-energy restaurants. The Company’s primary restaurant brands are: STK, a modern twist on the American steakhouse concept featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere; Benihana, an interactive dining destination with highly skilled chefs preparing food in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails; Kona Grill, a polished casual bar-centric grill concept featuring American favorites, award-winning sushi, and specialty cocktails in a polished casu...
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 17.8 | |||||||
| Gross profitability | not computable | 42.6% | |||||
| latest aligned inputs end 2015-12-31; latest annual assets end 2025-12-28 | |||||||
| Return on invested capital | not computable | 10.9% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Accruals ratio | (13.3%) | [1,3-5] | (4.9%) | 17.8 | 287 | 2025-12-28 | |
| Gross margin stability, five years | not computable | 1.2 pts | |||||
| five annual gross margins are required; found 2 | |||||||
| Solvency, sleeve percentile 80.8 | |||||||
| 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 | (0.95) | [1,6-11] | 1.92 | 72.5 | 208 | 2025-12-28 | |
| Net debt to EBITDA | not computable | 1.84x | |||||
| latest aligned inputs end 2018-12-31; latest annual assets end 2025-12-28 | |||||||
| Interest coverage | 0.22x | [9,12] | 2.26x | 76.2 | 64 | 2025-12-28 | |
| Current ratio | 0.43x | [6-7] | 1.37x | 93.9 | 295 | 2025-12-28 | |
| Growth and financing, sleeve percentile 25.0 | |||||||
| Revenue growth, three-year compound | 36.5% | [2,13-15] | 1.5% | 1.5 | 269 | 2025-12-28 | |
| Free cash flow growth, three-year compound | not computable | 5.6% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 7.3% | |||||
| latest aligned inputs end 2018-12-31; latest annual assets end 2025-12-28 | |||||||
| Asset growth, three years | 44.8% | [1,5,16-17] | 3.4% | 2.2 | 272 | 2025-12-28 | |
| Net share issuance, one year | 0.7% | [18-19] | (0.6%) | 71.4 | 211 | 2026-02-28 | |
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 -0.208; 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 |
|---|---|---|---|---|
| 63 | Academy Sports & Outdoors, Inc. (ASO) Academy Sports & Outdoors, Inc. (ASO) Bsecond fifth; percentile 24.1 Nasdaq · Retail-Miscellaneous Shopping Goods Stores market equity $3.2B; last close $52.76 No active warnings; 10 of 14 inputs | 24.1 | B | |
| 64 | Dillard'S, Inc. (DDS) Dillard'S, Inc. (DDS) Bsecond fifth; percentile 24.7 NYSE · Retail-Department Stores last close $646.12 No active warnings; 7 of 14 inputs | 24.7 | B | |
| 65 | Dillard'S, Inc. (DDT) Dillard'S, Inc. (DDT) Bsecond fifth; percentile 24.7 NYSE · Retail-Department Stores last close $26.19 No active warnings; 7 of 14 inputs | 24.7 | B | |
| 66 | GameStop Corp. (GME) GameStop Corp. (GME) Bsecond fifth; percentile 25.5 NYSE · Retail-Computer & Computer Software Stores last close $25.27 Warnings: fortress balance sheet; 9 of 14 inputs | 25.5 | B | fortress balance sheet |
| 67 | GameStop Corp. (GME-WT) GameStop Corp. (GME-WT) Bsecond fifth; percentile 25.5 NYSE · Retail-Computer & Computer Software Stores Warnings: fortress balance sheet; 9 of 14 inputs | 25.5 | B | fortress balance sheet |
| 68 | ONE Group Hospitality, Inc. (STKS) ONE Group Hospitality, Inc. (STKS) Bsecond fifth; percentile 26.1 Nasdaq · Retail-Eating Places market equity $48.2M; last close $1.51 Warnings: late filer; 7 of 14 inputs | 26.1 | B | late filer |
| 69 | Genesco Inc. (GCO) Genesco Inc. (GCO) Bsecond fifth; percentile 26.5 NYSE · Retail-Shoe Stores market equity $398.9M; last close $36.81 Warnings: fortress balance sheet; 7 of 14 inputs | 26.5 | B | fortress balance sheet |
| 70 | BJs Restaurants Inc. (BJRI) BJs Restaurants Inc. (BJRI) Bsecond fifth; percentile 26.8 Nasdaq · Retail-Eating Places market equity $1.3B; last close $59.63 No active warnings; 9 of 14 inputs | 26.8 | B | |
| 71 | EVI Industries, Inc. (EVI) EVI Industries, Inc. (EVI) Bsecond fifth; percentile 27.2 NYSE · Services-Personal Services market equity $245.5M; last close $19.25 No active warnings; 9 of 14 inputs | 27.2 | B | |
| 72 | Hawkins Inc. (HWKN) Hawkins Inc. (HWKN) Bsecond fifth; percentile 27.6 Nasdaq · Wholesale-Chemicals & Allied Products market equity $2.7B; last close $128.59 No active warnings; 11 of 14 inputs | 27.6 | B | |
| 73 | Texas Roadhouse, Inc. (TXRH) Texas Roadhouse, Inc. (TXRH) Bsecond fifth; percentile 28.0 Nasdaq · Retail-Eating Places market equity $10.7B; last close $162.69 Warnings: fortress balance sheet; 8 of 14 inputs | 28.0 | B | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A/B | 20.3 | 2204 |
| sector peers, equal sleeves (the grade) | B | 26.1 | 258 |
| same exchange, equal sleeves | A | 16.6 | 1219 |
| sector peers, equal inputs | C | 47.1 | 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 2026-10-08 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 | (43.2%) | (0.1%) | 10 | hotter than 10 of 100 peers |
| Distance from 52-week high | (45.9%) | (24.1%) | 20 | closer to its high than 20 of 100 peers |
| EBIT to enterprise value | 2.1% | 5.3% | 21 | pricier than 79 of 100 peers |
| Free cash flow yield | (56.6%) | 4.2% | 4 | pricier than 96 of 100 peers |
| Book value to price | (1.91) | 0.36 | 1 | pricier than 99 of 100 peers |
| Sales to price | 16.73 | 1.75 | 95 | pricier than 5 of 100 peers |
| Composite equity issuance, five years | 8.5% | (16.7%) | 87 | more equity-funded than 87 of 100 peers |
| Relative strength against the sector, log excess return | (0.54) | 0.02 | 10 | ahead of 10 of 100 peers |
Inputs: market equity $48.2M; EBIT $8.0M; free cash flow -$27.3M; book equity -$92.1M; sales $805.7M; debt $347.7M; cash $6.4M[20].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-28 | ||
|---|---|---|
| Return on assets above zero | (9.6%) | ✗ fail[3,5] |
| Operating cash flow above zero | $30.3M | ✓ pass[4] |
| Return on assets improved | (4.2 pts) | ✗ fail[3,5,16,21] |
| Operating cash flow exceeds net income | $122.6M | ✓ pass[3-4] |
| Long-term leverage fell | (15.2 pts) | ✓ pass[1,5,16,22-23] |
| Current ratio improved | (10.1 pts) | ✗ fail[6-7,24-25] |
| No new shares issued | 0.7% | ✗ fail[18-19] |
| Gross margin improved | n/a | |
| Asset turnover improved | (128.3 pts) | ✗ fail[2,5,13,16] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $6.4M[26] |
| Operating cash flow, four quarters | $51.9M[4,26-30] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 1 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 63 |
| 10-Q received Aug 7, 2026 | |
| Median daily dollar volume | $27,057 |
| 63 sessions | |
| Days since newest grade input | 204 |
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 | $884.2M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:Revenues | $805.7M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 3 | net income | us-gaap:NetIncomeLoss | -$92.2M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 4 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $30.3M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 5 | assets | us-gaap:Assets | $960.1M | 2024-12-31 | 2026-03-19 | 10-K | filing · viewer · series |
| 6 | current assets | us-gaap:AssetsCurrent | $56.9M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 7 | current liabilities | us-gaap:LiabilitiesCurrent | $133.2M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 8 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$93.2M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 9 | operating income | us-gaap:OperatingIncomeLoss | $8.0M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | -$75.8M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 11 | liabilities | us-gaap:Liabilities | $772.7M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 12 | interest expense | us-gaap:InterestExpense | $37.1M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:Revenues | $673.3M | 2024-12-31 | 2026-03-19 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:Revenues | $332.8M | 2023-12-31 | 2025-03-10 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:Revenues | $316.6M | 2022-12-31 | 2024-03-14 | 10-K | filing · viewer · series |
| 16 | assets | us-gaap:Assets | $317.2M | 2023-12-31 | 2025-03-10 | 10-K | filing · viewer · series |
| 17 | assets | us-gaap:Assets | $291.0M | 2022-12-31 | 2024-03-14 | 10-K | filing · viewer · series |
| 18 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 31,245,373 | 2026-02-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 19 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 31,040,871 | 2025-02-28 | 2025-03-10 | 10-K | filing · viewer · series |
| 20 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 31,689,024 | 2026-07-31 | 2026-08-07 | 10-Q | filing · viewer · series |
| 21 | net income | us-gaap:NetIncomeLoss | -$17.1M | 2024-12-31 | 2026-03-19 | 10-K | filing · viewer · series |
| 22 | long term debt | us-gaap:LongTermDebtNoncurrent | $334.0M | 2025-12-28 | 2026-03-19 | 10-K | filing · viewer · series |
| 23 | long term debt | us-gaap:LongTermDebtNoncurrent | $328.1M | 2024-12-31 | 2026-03-19 | 10-K | filing · viewer · series |
| 24 | current assets | us-gaap:AssetsCurrent | $69.3M | 2024-12-31 | 2026-03-19 | 10-K | filing · viewer · series |
| 25 | current liabilities | us-gaap:LiabilitiesCurrent | $131.4M | 2024-12-31 | 2026-03-19 | 10-K | filing · viewer · series |
| 26 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $6.4M | 2026-06-28 | 2026-08-07 | 10-Q | filing · viewer · series |
| 27 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $33.0M | 2026-06-28 | 2026-08-07 | 10-Q | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $21.7M | 2026-03-29 | 2026-05-06 | 10-Q | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $17.2M | 2025-09-28 | 2025-11-06 | 10-Q | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $11.3M | 2025-06-29 | 2026-08-07 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 26.1 is 6.1 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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