Recent News
March 12, 2026 — BJ’s announced a seasonal menu launch, the Monster Pizookie, expanding promotional mix and limited-time merchandising.
April 2, 2026 — An analyst note lowered BJRI’s price target while maintaining a Neutral view, reflecting muted sentiment among sell-side coverage.
April 21, 2026 — The company filed its proxy statement setting the 2026 Annual Meeting for June 11, 2026, and disclosed governance and meeting logistics.
Late April / early May 2026 — Annual report and related filings reinforced the company’s footprint (219 restaurants as of Feb 27, 2026) and operating focus on menu innovation and craft beer.
Technical Analysis
ADX at 10.76 signals no established directional trend; directional indicators present a constructive tilt as both DI+ and DI- recently triggered reversal patterns (DI+ dip-and-reversal; DI- peak-and-reversal), which together indicate bullish directional pressure despite the weak ADX reading.
MACD sits at 0.14 with a signal line at 0.16; the MACD has recently dipped and reversed, signalling bullish momentum building, but the oscillator remains below its signal line and therefore awaits a confirmed bullish cross to validate momentum acceleration.
MRO reads 29.3 and is increasing, indicating the current price sits above the model target and that mean-reversion risk exists until momentum cools; MRO strength suggests a material over-target gap that could check near-term gains.
RSI at 49.92 has peaked and reversed, indicating near-term weakening of short-term breadth even as other momentum indicators turn constructive; this divergence points to a period of chop unless momentum indicators align.
Price sits above its 200-day average ($36.74) and slightly above the 20-day average ($38.01), with the 12-day EMA trending as a dip-and-reversal — a short-term bullish configuration. Ichimoku components show Tenkan above Kijun, supporting near-term bias, but the Senkou cloud offers mixed support with Senkou B above price.
Bollinger bands place the close near the upper 1x band, and recent volume outpaced the 10-day average while remaining below the 200-day average, which aligns with a selective participation advance rather than broad conviction.
Fundamental Analysis
Top line and margins: Total revenue totaled $355,399,000 with YoY revenue growth of 33.61% and QoQ change of -1.79%, indicating strong annual comps alongside some quarter-to-quarter moderation. Gross margin stands at 16.10% and YoY improved modestly.
Profitability metrics present a mixed profile. Operating income registers $11,887,000 with an operating margin of 3.345% and an EBIT margin of 3.357%. EBIT margin improved sharply QoQ (+58.95%) but sits meaningfully below the industry peer mean (≈23.006%) and median (≈17.352%), highlighting a material earnings margin gap relative to peers.
Earnings: Reported EPS was $0.66 versus an estimate of $0.62, producing an EPS surprise of +6.45%. That beat supports the recent valuation signal and shows continued ability to exceed near-term consensus. (Earnings discussed here as part of fundamentals, not in Recent News.)
Cash flow and liquidity: Free cash flow totaled $7,455,000 with a free cash flow yield of 0.86%, slightly below the industry peer mean of 1.08%. Operating cash flow reached $18,554,000, but the company maintains a working capital deficit (net working capital negative $112,850,000) and a current ratio of 0.399, both reflecting a tight near-term liquidity posture.
Leverage and coverage: Total debt stands at $490,758,000 with net debt of $61,219,000. Debt-to-equity equals 1.34 (134.0%) while interest coverage of 11.25x exceeds the industry peer mean, indicating manageable interest serviceability despite elevated nominal leverage.
Efficiency and returns: Asset turnover sits at 0.349 with return on equity of 3.45% and return on assets of 1.24%; returns improved QoQ but remain modest in absolute terms. Cash conversion cycle at -5.48 days supports short operating float.
Valuation: WMDST values the stock as under-valued. Key valuation multiples display elevated P/E and enterprise multiple context (P/E ≈ 61.88; enterprise multiple ≈ 40.47) while forward metrics compress modestly; combined with the company’s margin gap versus the industry peer mean and the positive EPS surprise, the WMDST valuation implies upside if margins and free cash flow scale toward peer norms.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-25 |
| NEXT REPORT DATE: | 2026-05-27 |
| CASH FLOW | Begin Period Cash Flow | $ 25.4 M |
| Operating Cash Flow | $ 18.6 M | |
| Capital Expenditures | $ -11.10 M | |
| Change In Working Capital | $ -24.63 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -1.65 M | |
| End Period Cash Flow | $ 23.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 355.4 M | |
| Forward Revenue | $ 98.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 298.2 M | |
| Depreciation | $ 20.9 M | |
| Depreciation and Amortization | $ 20.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 343.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 57.2 M | |
| EBITDA | $ 32.8 M | |
| EBIT | $ 11.9 M | |
| Operating Income | $ 11.9 M | |
| Interest Income | — | |
| Interest Expense | $ 1.1 M | |
| Net Interest Income | $ -1.06 M | |
| Income Before Tax | $ 10.9 M | |
| Tax Provision | $ -1.77 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 12.6 M | |
| Net Income From Continuing Operations | $ 12.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.62 | |
| EPS Actual | $ 0.66 | |
| EPS Difference | $ 0.04 | |
| EPS Surprise | 6.452 % | |
| Forward EPS | $ 0.67 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.0 B | |
| Intangible Assets | $ 4.7 M | |
| Net Tangible Assets | $ 361.5 M | |
| Total Current Assets | $ 74.9 M | |
| Cash and Short-Term Investments | $ 23.8 M | |
| Cash | $ 23.8 M | |
| Net Receivables | $ 12.3 M | |
| Inventory | $ 13.1 M | |
| Long-Term Investments | $ 48.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 38.4 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 187.8 M | |
| Net Debt | $ 61.2 M | |
| Total Debt | $ 490.8 M | |
| Total Liabilities | $ 649.3 M | |
| EQUITY | ||
| Total Equity | $ 366.2 M | |
| Retained Earnings | $ 291.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.34 | |
| Shares Outstanding | 21.114 M | |
| Revenue Per-Share | $ 16.83 | |
| VALUATION | Market Capitalization | $ 862.4 M |
| Enterprise Value | $ 1.3 B | |
| Enterprise Multiple | 40.468 | |
| Enterprise Multiple QoQ | -32.9 % | |
| Enterprise Multiple YoY | -71.035 % | |
| Enterprise Multiple IPRWA | high: 130.17 median: 81.693 mean: 80.096 BJRI: 40.468 low: -2.827 |
|
| EV/R | 3.74 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.773 | |
| Asset To Liability | 1.564 | |
| Debt To Capital | 0.573 | |
| Debt To Assets | 0.483 | |
| Debt To Assets QoQ | -1.379 % | |
| Debt To Assets YoY | 0.505 % | |
| Debt To Assets IPRWA | high: 1.609 median: 0.72 mean: 0.688 BJRI: 0.483 low: 0.019 |
|
| Debt To Equity | 1.34 | |
| Debt To Equity QoQ | -4.69 % | |
| Debt To Equity YoY | -0.945 % | |
| Debt To Equity IPRWA | high: 12.912 BJRI: 1.34 mean: 0.492 median: 0.252 low: -8.585 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.355 | |
| Price To Book QoQ | 19.776 % | |
| Price To Book YoY | 8.153 % | |
| Price To Book IPRWA | high: 26.123 median: 6.554 BJRI: 2.355 mean: 1.526 low: -26.316 |
|
| Price To Earnings (P/E) | 61.883 | |
| Price To Earnings QoQ | -92.495 % | |
| Price To Earnings YoY | -18.063 % | |
| Price To Earnings IPRWA | high: 247.068 mean: 107.66 median: 88.315 BJRI: 61.883 low: -96.27 |
|
| PE/G Ratio | 0.04 | |
| Price To Sales (P/S) | 2.426 | |
| Price To Sales QoQ | 14.391 % | |
| Price To Sales YoY | 3.705 % | |
| Price To Sales IPRWA | high: 31.537 median: 21.736 mean: 19.239 BJRI: 2.426 low: 0.273 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 54.733 | |
| Forward PE/G | 0.035 | |
| Forward P/S | 8.608 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 834.966 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.349 | |
| Asset Turnover Ratio QoQ | 8.164 % | |
| Asset Turnover Ratio YoY | 5.511 % | |
| Asset Turnover Ratio IPRWA | high: 0.603 BJRI: 0.349 mean: 0.188 median: 0.123 low: 0.063 |
|
| Receivables Turnover | 25.038 | |
| Receivables Turnover Ratio QoQ | 28.891 % | |
| Receivables Turnover Ratio YoY | 9.116 % | |
| Receivables Turnover Ratio IPRWA | high: 47.268 BJRI: 25.038 mean: 7.6 median: 5.657 low: 0.996 |
|
| Inventory Turnover | 23.285 | |
| Inventory Turnover Ratio QoQ | 0.66 % | |
| Inventory Turnover Ratio YoY | 2.688 % | |
| Inventory Turnover Ratio IPRWA | high: 66.458 median: 51.345 mean: 38.884 BJRI: 23.285 low: 0.802 |
|
| Days Sales Outstanding (DSO) | 3.644 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -5.48 | |
| Cash Conversion Cycle Days QoQ | -5.996 % | |
| Cash Conversion Cycle Days YoY | -27.832 % | |
| Cash Conversion Cycle Days IPRWA | high: 84.283 mean: 4.653 median: 2.075 BJRI: -5.48 low: -80.186 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -3.149 | |
| CapEx To Revenue | -0.031 | |
| CapEx To Depreciation | -0.531 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 451.2 M | |
| Net Invested Capital | $ 451.2 M | |
| Invested Capital | $ 451.2 M | |
| Net Tangible Assets | $ 361.5 M | |
| Net Working Capital | $ -112.85 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.127 | |
| Current Ratio | 0.399 | |
| Current Ratio QoQ | 9.447 % | |
| Current Ratio YoY | -1.552 % | |
| Current Ratio IPRWA | high: 2.73 mean: 0.98 median: 0.955 BJRI: 0.399 low: 0.36 |
|
| Quick Ratio | 0.329 | |
| Quick Ratio QoQ | 9.733 % | |
| Quick Ratio YoY | -3.245 % | |
| Quick Ratio IPRWA | high: 2.688 mean: 0.956 median: 0.941 BJRI: 0.329 low: 0.162 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 14.94 | |
| Cost Of Debt | 0.169 % | |
| Interest Coverage Ratio | 11.255 | |
| Interest Coverage Ratio QoQ | 7135.901 % | |
| Interest Coverage Ratio YoY | -277.13 % | |
| Interest Coverage Ratio IPRWA | high: 21.419 BJRI: 11.255 mean: 8.582 median: 5.827 low: -12.905 |
|
| Operating Cash Flow Ratio | 0.16 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 13.17 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.645 % | |
| Revenue Growth | 7.645 % | |
| Revenue Growth QoQ | -178.863 % | |
| Revenue Growth YoY | 33.607 % | |
| Revenue Growth IPRWA | high: 27.02 % BJRI: 7.645 % median: -1.058 % mean: -1.259 % low: -38.858 % |
|
| Earnings Growth | 1550.0 % | |
| Earnings Growth QoQ | -1716.672 % | |
| Earnings Growth YoY | -435.834 % | |
| Earnings Growth IPRWA | BJRI: 1550.0 % high: 256.238 % median: -8.333 % mean: -9.339 % low: -219.355 % |
|
| MARGINS | ||
| Gross Margin | 16.096 % | |
| Gross Margin QoQ | 28.603 % | |
| Gross Margin YoY | 4.798 % | |
| Gross Margin IPRWA | high: 82.469 % mean: 40.029 % median: 39.908 % BJRI: 16.096 % low: -4.539 % |
|
| EBIT Margin | 3.357 % | |
| EBIT Margin QoQ | 5894.643 % | |
| EBIT Margin YoY | -223.601 % | |
| EBIT Margin IPRWA | high: 58.736 % mean: 23.006 % median: 17.352 % BJRI: 3.357 % low: -35.819 % |
|
| Return On Sales (ROS) | 3.345 % | |
| Return On Sales QoQ | -2713.281 % | |
| Return On Sales YoY | -223.159 % | |
| Return On Sales IPRWA | high: 45.049 % mean: 23.579 % median: 18.17 % BJRI: 3.345 % low: -37.15 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 7.5 M | |
| Free Cash Flow Yield | 0.864 % | |
| Free Cash Flow Yield QoQ | 68.093 % | |
| Free Cash Flow Yield YoY | -55.828 % | |
| Free Cash Flow Yield IPRWA | high: 7.195 % mean: 1.076 % BJRI: 0.864 % median: 0.802 % low: -9.377 % |
|
| Free Cash Growth | 106.911 % | |
| Free Cash Growth QoQ | -216.968 % | |
| Free Cash Growth YoY | 0.386 % | |
| Free Cash Growth IPRWA | high: 149.518 % BJRI: 106.911 % mean: -9.128 % median: -31.246 % low: -365.169 % |
|
| Free Cash To Net Income | 0.59 | |
| Cash Flow Margin | 8.453 % | |
| Cash Flow To Earnings | 2.376 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.241 % | |
| Return On Assets QoQ | 2657.778 % | |
| Return On Assets YoY | -345.257 % | |
| Return On Assets IPRWA | high: 6.953 % mean: 2.313 % median: 1.828 % BJRI: 1.241 % low: -1.777 % |
|
| Return On Capital Employed (ROCE) | 1.441 % | |
| Return On Equity (ROE) | 0.035 | |
| Return On Equity QoQ | 2535.878 % | |
| Return On Equity YoY | -342.656 % | |
| Return On Equity IPRWA | high: 0.437 median: 0.035 BJRI: 0.035 mean: 0.024 low: -0.363 |
|
| DuPont ROE | 3.5 % | |
| Return On Invested Capital (ROIC) | 2.089 % | |
| Return On Invested Capital QoQ | 6230.303 % | |
| Return On Invested Capital YoY | -234.168 % | |
| Return On Invested Capital IPRWA | high: 20.375 % mean: 6.432 % median: 6.096 % BJRI: 2.089 % low: -5.359 % |
|