# Bt Brands Inc. (BTBD)

**Exchange:** NASDAQ  
**Sector:** Consumer Cyclical  
**Market cap:** $7M  
**Price:** $1.14 (-2.56%)

> BT Brands Inc. owns and operates a portfolio of fast-food restaurants primarily in the north central region of the United States. The company manages Burger Time drive-through locations in Minnesota, North Dakota, and South Dakota, offering burgers, chicken sandwiches, pulled pork sandwiches, chicken tenders, chicken chunks, sides, and soft drinks. It also operates a Dairy Queen franchise in Ham Lake, Minnesota, featuring burgers, chicken, sides, ice cream, desserts, and beverages. Additionally, BT Brands Inc. holds a significant ownership stake in Bagger Dave’s Burger Tavern, which provides burgers, pizzas, fries, beers, milkshakes, salads, and other menu items across locations in Michigan, Ohio, and Indiana. Founded in 1987 and headquartered in West Fargo, North Dakota, BT Brands Inc. focuses on delivering quick-service dining options to customers in these regional markets through its family of established restaurant brands.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2024 | $15M | — | -$2M | -$2M | — |
| 2023 | $14M | — | -$1M | -$887,368 | — |
| 2023 | $14M | — | -$1M | -$887,368 | — |
| 2023 | $13M | — | -$391,164 | -$562,285 | — |
| 2022 | $8M | — | $980,712 | $607,851 | — |
| 2021 | $8M | — | $529,368 | $791,992 | — |
| 2019 | $6M | — | -$373,548 | -$466,577 | — |
| 2018 | $7M | — | $240,815 | $20,803 | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2024 | $12M | $5M | $7M | — | $2M |
| 2023 | $15M | $5M | $9M | — | $2M |
| 2023 | $17M | $7M | $10M | — | $3M |
| 2022 | $15M | $4M | $11M | $12M | $3M |
| 2021 | $3M | $4M | -$702,323 | $1M | $3M |
| 2019 | $3M | $4M | -$1M | $258,101 | $4M |
| 2018 | $3M | $4M | -$1M | $663,511 | $4M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2024 | -$723,505 | $494,064 | -$1M |
| 2023 | -$258,787 | $488,388 | -$747,175 |
| 2023 | $211,798 | $478,396 | -$266,598 |
| 2022 | $813,955 | $207,920 | $606,035 |
| 2021 | $1M | $154,420 | $1M |
| 2019 | $50,489 | — | $50,489 |
| 2018 | $49,116 | -$66,652 | -$17,536 |

Source: [CompaniesByCap](https://companiesbycap.com/company/BTBD)