Recent News
On August 27, 2025 BJ’s management announced participation at the Piper Sandler Growth Frontiers Conference, scheduling a fireside discussion and one-on-one meetings on September 10 in Nashville. Analysts updated coverage through late October and early November, with Barclays maintaining an underweight stance while adjusting its price target in late October; several outlets reported follow‑up analyst notes and a modest cluster of target changes. Insider disclosures show small executive share sales reported in August and September.
Technical Analysis
Directional Indicators (ADX / DI+ / DI-): ADX at 21.69 indicates an emerging trend strength. DI+ increased to 32.85 while DI- decreased to 21.69; the direction of both lines reads bullish and implies directional momentum favoring upside pressure on price.
MACD: MACD sits at 0.81, above the signal line at 0.32, with the MACD trend increasing; the recent cross above the signal line signals bullish momentum and supports a positive near-term price bias.
MRO (Momentum/Regression Oscillator): MRO at 35.28 (positive and increasing) indicates price sits above model target, implying potential mean reversion pressure; this creates a countervailing force versus short-term momentum.
RSI: RSI near 50.47 and rising shows neutral-to-constructive momentum without overbought readings, enabling room for further upside while avoiding immediate overextension.
Price vs Moving Averages and Bands: Price closed at $36.24, above the 12-day EMA ($33.82) and 20-day average ($33.11) and below the 200-day average ($36.32); this alignment signals short-term strength against intermediate resistance at the 200-day average. Bollinger bands show a 1× band range roughly $30.64–$35.57 and a 2× band up to $38.04, indicating current intraday volatility remains contained inside the wider band. Ichimoku components place short-term conversion and baseline around $32.69, providing a nearby support cluster.
Beta and Volume: 42-day beta at 1.65 and 52-week beta at 1.05 show elevated short-term sensitivity to market moves; recent volume (569,678) sits slightly below the 10-day average (600,406) but above the 50- and 200-day averages, suggesting participation without extended exhaustion.
Fundamental Analysis
Profitability And Margins: EBIT equals $24,975,000 and EBIT margin stands at 6.83%. Compared to the industry peer mean margin of 26.31% and industry peer median of 24.87%, the company’s EBIT margin remains below peers; QoQ improvement of 59.64% and YoY improvement of 49.48% demonstrate rapid operational leverage and margin recovery versus recent periods.
Revenue And Growth: Total revenue reached $365,597,000 with YoY revenue growth of 35.682% and period-to-period revenue growth of 5.065%; the company reported a strong QoQ revenue growth datapoint of 380.095% in the provided metric. These gains pair with improving operating margin (5.856%) and operating margin QoQ growth of 36.854% and YoY growth of 28.14%, signaling expansion in operating efficiency alongside top-line recovery.
Earnings And Cash Flow: Reported EPS of $0.04 exceeded the $0.03 estimate, producing a 33.33% surprise ratio. Operating cash flow of $62,279,000 and free cash flow of $41,906,000 produce a free cash flow yield of 5.04%; free cash flow yield sits above the industry peer mean of roughly 0.99% as provided, and free cash to net income of 188.70% underscores cash conversion strength. Cash balance stands at $25,964,000 with net debt at $34,536,000 and interest coverage near 19.63, indicating manageable interest obligations relative to operating earnings.
Leverage And Working Capital: Total debt equals $477,659,000 with debt-to-assets of 46.59% and debt-to-equity of 1.2357; debt-to-EBITDA measures about 10.93x. Net working capital sits negative at -$117,392,000, driven by current liabilities of $189,958,000 versus current assets of $72,566,000 and a current ratio of 0.382. These leverage and liquidity metrics require monitoring, particularly the elevated debt-to-EBITDA and the low current ratio.
Valuation Context: WMDST values the stock as under-valued. Market multiples show a PE ratio of 42.12 and an enterprise multiple near 29.37; EV/Revenue measures about 3.51. Forward metrics include forward PE near 109.03 and forward EPS of $0.375, which indicate market expectations for different near-term earnings paths. WMDST’s valuation assessment highlights the disconnect between improving operational performance and prevailing market multiples.
Earnings Detail: The company released fiscal third quarter 2025 results showing revenue and adjusted profit improvements, including a shift to positive diluted net income per share after a prior loss; adjusted EBITDA improved year-over-year and restaurant-level operating profit expanded, supporting the margin narrative.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-10-30 |
| NEXT REPORT DATE: | 2026-01-29 |
| CASH FLOW | Begin Period Cash Flow | $ 19.0 M |
| Operating Cash Flow | $ 62.3 M | |
| Capital Expenditures | $ -20.37 M | |
| Change In Working Capital | $ 11.2 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 7.0 M | |
| End Period Cash Flow | $ 26.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 365.6 M | |
| Forward Revenue | $ 34.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 303.5 M | |
| Depreciation | $ 18.7 M | |
| Depreciation and Amortization | $ 18.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 344.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 62.1 M | |
| EBITDA | $ 43.7 M | |
| EBIT | $ 25.0 M | |
| Operating Income | $ 21.4 M | |
| Interest Income | — | |
| Interest Expense | $ 1.3 M | |
| Net Interest Income | $ -1.27 M | |
| Income Before Tax | $ 23.7 M | |
| Tax Provision | $ 1.5 M | |
| Tax Rate | 6.307 % | |
| Net Income | $ 22.2 M | |
| Net Income From Continuing Operations | $ 22.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.03 | |
| EPS Actual | $ 0.04 | |
| EPS Difference | $ 0.01 | |
| EPS Surprise | 33.333 % | |
| Forward EPS | $ 0.38 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.0 B | |
| Intangible Assets | $ 4.7 M | |
| Net Tangible Assets | $ 381.9 M | |
| Total Current Assets | $ 72.6 M | |
| Cash and Short-Term Investments | $ 26.0 M | |
| Cash | $ 26.0 M | |
| Net Receivables | $ 17.9 M | |
| Inventory | $ 12.5 M | |
| Long-Term Investments | $ 43.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 50.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 190.0 M | |
| Net Debt | $ 34.5 M | |
| Total Debt | $ 477.7 M | |
| Total Liabilities | $ 638.7 M | |
| EQUITY | ||
| Total Equity | $ 386.6 M | |
| Retained Earnings | $ 313.4 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.43 | |
| Shares Outstanding | 22.181 M | |
| Revenue Per-Share | $ 16.48 | |
| VALUATION | Market Capitalization | $ 831.9 M |
| Enterprise Value | $ 1.3 B | |
| Enterprise Multiple | 29.366 | |
| Enterprise Multiple QoQ | -22.132 % | |
| Enterprise Multiple YoY | 15.87 % | |
| Enterprise Multiple IPRWA | high: 115.782 mean: 73.867 median: 71.611 BJRI: 29.366 low: -56.203 |
|
| EV/R | 3.511 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.652 | |
| Asset To Liability | 1.605 | |
| Debt To Capital | 0.553 | |
| Debt To Assets | 0.466 | |
| Debt To Assets QoQ | -6.205 % | |
| Debt To Assets YoY | 653.518 % | |
| Debt To Assets IPRWA | high: 1.647 median: 0.724 mean: 0.699 BJRI: 0.466 low: 0.002 |
|
| Debt To Equity | 1.236 | |
| Debt To Equity QoQ | -9.389 % | |
| Debt To Equity YoY | 639.733 % | |
| Debt To Equity IPRWA | high: 10.498 BJRI: 1.236 median: -1.551 mean: -4.617 low: -20.242 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.152 | |
| Price To Book QoQ | 4.752 % | |
| Price To Book YoY | 1.773 % | |
| Price To Book IPRWA | high: 19.124 median: 3.747 BJRI: 2.152 mean: -0.315 low: -25.016 |
|
| Price To Earnings (P/E) | 42.119 | |
| Price To Earnings QoQ | -26.947 % | |
| Price To Earnings YoY | -14.145 % | |
| Price To Earnings IPRWA | high: 289.09 mean: 101.265 median: 95.392 BJRI: 42.119 low: -27.296 |
|
| PE/G Ratio | 0.654 | |
| Price To Sales (P/S) | 2.276 | |
| Price To Sales QoQ | 3.751 % | |
| Price To Sales YoY | -2.57 % | |
| Price To Sales IPRWA | high: 31.824 mean: 18.35 median: 16.293 BJRI: 2.276 low: 0.286 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 109.028 | |
| Forward PE/G | 1.693 | |
| Forward P/S | 24.302 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 13.375 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.358 | |
| Asset Turnover Ratio QoQ | 5.878 % | |
| Asset Turnover Ratio YoY | 6.725 % | |
| Asset Turnover Ratio IPRWA | high: 0.621 BJRI: 0.358 mean: 0.199 median: 0.147 low: 0.02 |
|
| Receivables Turnover | 21.354 | |
| Receivables Turnover Ratio QoQ | -11.541 % | |
| Receivables Turnover Ratio YoY | -6.082 % | |
| Receivables Turnover Ratio IPRWA | high: 42.739 BJRI: 21.354 mean: 8.249 median: 4.375 low: 0.692 |
|
| Inventory Turnover | 24.451 | |
| Inventory Turnover Ratio QoQ | 5.057 % | |
| Inventory Turnover Ratio YoY | 11.308 % | |
| Inventory Turnover Ratio IPRWA | high: 63.048 median: 54.358 mean: 37.396 BJRI: 24.451 low: 0.492 |
|
| Days Sales Outstanding (DSO) | 4.273 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -2.829 | |
| Cash Conversion Cycle Days QoQ | -18.248 % | |
| Cash Conversion Cycle Days YoY | -65.058 % | |
| Cash Conversion Cycle Days IPRWA | high: 60.416 median: 4.8 mean: 2.18 BJRI: -2.829 low: -59.918 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -3.114 | |
| CapEx To Revenue | -0.056 | |
| CapEx To Depreciation | -1.087 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 447.1 M | |
| Net Invested Capital | $ 447.1 M | |
| Invested Capital | $ 447.1 M | |
| Net Tangible Assets | $ 381.9 M | |
| Net Working Capital | $ -117.39 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.137 | |
| Current Ratio | 0.382 | |
| Current Ratio QoQ | -1.958 % | |
| Current Ratio YoY | 9.261 % | |
| Current Ratio IPRWA | high: 2.698 mean: 1.018 median: 1.012 BJRI: 0.382 low: 0.137 |
|
| Quick Ratio | 0.316 | |
| Quick Ratio QoQ | 0.601 % | |
| Quick Ratio YoY | 16.435 % | |
| Quick Ratio IPRWA | high: 2.654 median: 1.178 mean: 1.043 BJRI: 0.316 low: 0.106 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.928 | |
| Cost Of Debt | 0.242 % | |
| Interest Coverage Ratio | 19.634 | |
| Interest Coverage Ratio QoQ | 62.203 % | |
| Interest Coverage Ratio YoY | 54.566 % | |
| Interest Coverage Ratio IPRWA | high: 46.029 BJRI: 19.634 mean: 8.999 median: 6.755 low: -26.646 |
|
| Operating Cash Flow Ratio | 0.362 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 10.976 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.529 % | |
| Revenue Growth | 5.065 % | |
| Revenue Growth QoQ | 380.095 % | |
| Revenue Growth YoY | 35.682 % | |
| Revenue Growth IPRWA | high: 52.655 % median: 14.912 % mean: 13.68 % BJRI: 5.065 % low: -34.396 % |
|
| Earnings Growth | 64.407 % | |
| Earnings Growth QoQ | 152.26 % | |
| Earnings Growth YoY | -48.474 % | |
| Earnings Growth IPRWA | high: 214.286 % BJRI: 64.407 % mean: 24.357 % median: 19.476 % low: -246.809 % |
|
| MARGINS | ||
| Gross Margin | 16.991 % | |
| Gross Margin QoQ | 6.36 % | |
| Gross Margin YoY | 9.662 % | |
| Gross Margin IPRWA | high: 82.429 % mean: 42.135 % median: 41.612 % BJRI: 16.991 % low: -15.915 % |
|
| EBIT Margin | 6.831 % | |
| EBIT Margin QoQ | 59.64 % | |
| EBIT Margin YoY | 49.475 % | |
| EBIT Margin IPRWA | high: 47.508 % mean: 26.312 % median: 24.865 % BJRI: 6.831 % low: -41.862 % |
|
| Return On Sales (ROS) | 5.856 % | |
| Return On Sales QoQ | 36.854 % | |
| Return On Sales YoY | 28.14 % | |
| Return On Sales IPRWA | high: 47.655 % mean: 25.715 % median: 24.801 % BJRI: 5.856 % low: -15.426 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 41.9 M | |
| Free Cash Flow Yield | 5.037 % | |
| Free Cash Flow Yield QoQ | -418.797 % | |
| Free Cash Flow Yield YoY | 5496.667 % | |
| Free Cash Flow Yield IPRWA | high: 7.323 % BJRI: 5.037 % mean: 0.991 % median: 0.675 % low: -3.222 % |
|
| Free Cash Growth | -447.422 % | |
| Free Cash Growth QoQ | 153.432 % | |
| Free Cash Growth YoY | -798.42 % | |
| Free Cash Growth IPRWA | high: 178.828 % median: -33.191 % mean: -61.594 % low: -342.665 % BJRI: -447.422 % |
|
| Free Cash To Net Income | 1.887 | |
| Cash Flow Margin | 18.828 % | |
| Cash Flow To Earnings | 3.1 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 2.172 % | |
| Return On Assets QoQ | 65.928 % | |
| Return On Assets YoY | 32.197 % | |
| Return On Assets IPRWA | high: 7.107 % mean: 2.936 % median: 2.755 % BJRI: 2.172 % low: -4.298 % |
|
| Return On Capital Employed (ROCE) | 2.99 % | |
| Return On Equity (ROE) | 0.057 | |
| Return On Equity QoQ | 58.177 % | |
| Return On Equity YoY | 29.421 % | |
| Return On Equity IPRWA | high: 0.488 BJRI: 0.057 median: 0.037 mean: 0.011 low: -0.628 |
|
| DuPont ROE | 5.859 % | |
| Return On Invested Capital (ROIC) | 5.234 % | |
| Return On Invested Capital QoQ | 62.648 % | |
| Return On Invested Capital YoY | -79.961 % | |
| Return On Invested Capital IPRWA | high: 16.565 % mean: 7.209 % median: 6.805 % BJRI: 5.234 % low: -8.237 % |
|