Recent News
On January 15, 2026 PAR agreed to exchange approximately $17.1 million of convertible senior notes for common stock and a small cash payment for accrued interest, reducing outstanding convertible principal. On February 3, 2026 PAR announced that Jack’s Family Restaurants selected its unified platform to power guest experiences across all locations. On February 28, 2026 at least one research house lowered its price target on the stock, triggering a gap down in pre-market trading.
Technical Analysis
Directional indicators: ADX at 43.67 registers a very strong trend. DI- (37.59) with a dip & reversal indicates dominant bearish directional pressure; DI+ at 15.15 (increasing) provides a countervailing but currently insufficient bullish push relative to the stronger DI- reading.
MACD: MACD sits at -2.93 with a peak & reversal, which signals bearish momentum; however MACD currently trades above its signal line (-3.02), creating a short-duration bullish crossover that may produce a transient pause or small bounce within the broader downtrend.
MRO: MRO at -33.53 indicates the price sits materially below the model target, implying upward mean-reversion potential; that pressure may produce bounces but does not by itself negate the prevailing bearish momentum.
RSI and volatility: RSI of 34.91 with a dip & reversal signals near-oversold conditions and susceptibility to a short-term relief rally. Elevated short-term beta (42-day beta 3.01) and a 42-day volatility of 6% point to outsized moves compared with the 52-week baseline.
Price vs moving averages and bands: Last close $16.39 lies well below the 20-day ($21.00), 50-day ($29.95) and 200-day ($45.62) averages, and below the lower Bollinger band metrics (lower 2x stddev $17.16), underscoring an out-of-step price that aligns with the strong ADX and bearish MACD trend. Ichimoku components show cloud levels (Senkou A $37.12, Senkou B $36.09) far above the price, reinforcing a bearish regime.
Fundamental Analysis
Profitability and margins: EBIT equals -$16,989,000, producing an EBIT margin of -14.26% (YoY change -16.89%). Operating margin registers -14.81%. Both margins sit well below the industry peer mean and median for EBIT margin, indicating materially lower profitability relative to peers (industry peer mean for EBIT margin 33.99%, median 20.68%).
Revenue and growth: Reported total revenue $119,183,000 with revenue growth flag at 6.03% but revenue growth YoY shown as -74.67% in the dataset; the QoQ and YoY margin contractions and revenue line items require careful reconciliation when modeling forward cash flows.
Cash, leverage, and liquidity: Cash and short-term investments equal $93,006,000 and operating cash flow stands at $8,392,000 with free cash flow $5,192,000. Current ratio 1.70 and quick ratio 1.51 indicate near-term liquidity coverage. Total debt $402,347,000 produces net debt $300,968,000; debt-to-equity 0.48 and debt-to-assets 0.292 imply moderate leverage, while interest coverage remains negative given operating losses.
Earnings and market multiples: EPS actual $0.06 versus estimate $0.03, an EPS surprise of 100%. PE ratio sits at 714.40 and forward PE near 672.17—extreme multiples reflecting depressed trailing earnings and small forward earnings expectations. Price-to-book 2.08 versus industry peer mean near 8.94 shows the stock trades below peer mean on P/B but other multiples indicate valuation dislocation. WMDST values the stock as over-valued given the combination of negative margins, extreme trailing multiples and current price relative to fundamentals.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2026-02-26 |
| NEXT REPORT DATE: | 2026-05-28 |
| CASH FLOW | Begin Period Cash Flow | $ 102.8 M |
| Operating Cash Flow | $ 8.4 M | |
| Capital Expenditures | $ -3.20 M | |
| Change In Working Capital | $ 5.3 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 4.1 M | |
| End Period Cash Flow | $ 106.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 119.2 M | |
| Forward Revenue | $ -22.96 M | |
| COSTS | ||
| Cost Of Revenue | $ 70.0 M | |
| Depreciation | $ 9.1 M | |
| Depreciation and Amortization | $ 12.5 M | |
| Research and Development | $ 19.3 M | |
| Total Operating Expenses | $ 136.8 M | |
| PROFITABILITY | ||
| Gross Profit | $ 49.2 M | |
| EBITDA | $ -4.52 M | |
| EBIT | $ -16.99 M | |
| Operating Income | $ -17.65 M | |
| Interest Income | — | |
| Interest Expense | $ 1.5 M | |
| Net Interest Income | $ -1.47 M | |
| Income Before Tax | $ -18.45 M | |
| Tax Provision | $ -277.00 K | |
| Tax Rate | 1.501 % | |
| Net Income | $ -18.18 M | |
| Net Income From Continuing Operations | $ -18.18 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.03 | |
| EPS Actual | $ 0.06 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 100.0 % | |
| Forward EPS | $ 0.34 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.4 B | |
| Intangible Assets | $ 1.1 B | |
| Net Tangible Assets | $ -277.39 M | |
| Total Current Assets | $ 227.1 M | |
| Cash and Short-Term Investments | $ 93.0 M | |
| Cash | $ 92.5 M | |
| Net Receivables | $ 70.5 M | |
| Inventory | $ 25.4 M | |
| Long-Term Investments | $ 12.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 32.0 M | |
| Short-Term Debt | $ 19.9 M | |
| Total Current Liabilities | $ 133.9 M | |
| Net Debt | $ 301.0 M | |
| Total Debt | $ 402.3 M | |
| Total Liabilities | $ 539.3 M | |
| EQUITY | ||
| Total Equity | $ 838.0 M | |
| Retained Earnings | $ -343.51 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 20.65 | |
| Shares Outstanding | 40.591 M | |
| Revenue Per-Share | $ 2.94 | |
| VALUATION | Market Capitalization | $ 1.7 B |
| Enterprise Value | $ 2.0 B | |
| Enterprise Multiple | -453.57 | |
| Enterprise Multiple QoQ | 4.591 % | |
| Enterprise Multiple YoY | 41.569 % | |
| Enterprise Multiple IPRWA | high: 329.205 mean: 97.596 median: 95.447 low: -218.656 PAR: -453.57 |
|
| EV/R | 17.194 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.644 | |
| Asset To Liability | 2.554 | |
| Debt To Capital | 0.324 | |
| Debt To Assets | 0.292 | |
| Debt To Assets QoQ | 1.558 % | |
| Debt To Assets YoY | 17287.5 % | |
| Debt To Assets IPRWA | high: 0.923 median: 0.356 mean: 0.303 PAR: 0.292 low: 0.007 |
|
| Debt To Equity | 0.48 | |
| Debt To Equity QoQ | 3.039 % | |
| Debt To Equity YoY | 15189.809 % | |
| Debt To Equity IPRWA | high: 3.011 median: 2.386 mean: 1.532 PAR: 0.48 low: -2.088 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.076 | |
| Price To Book QoQ | -25.857 % | |
| Price To Book YoY | -29.662 % | |
| Price To Book IPRWA | high: 17.066 median: 9.007 mean: 8.943 PAR: 2.076 low: -6.772 |
|
| Price To Earnings (P/E) | 714.398 | |
| Price To Earnings QoQ | -67.093 % | |
| Price To Earnings YoY | -214.161 % | |
| Price To Earnings IPRWA | PAR: 714.398 high: 324.496 median: 130.431 mean: 121.378 low: -292.051 |
|
| PE/G Ratio | 7.144 | |
| Price To Sales (P/S) | 14.598 | |
| Price To Sales QoQ | -31.791 % | |
| Price To Sales YoY | -30.918 % | |
| Price To Sales IPRWA | high: 74.756 median: 56.608 mean: 38.879 PAR: 14.598 low: 0.551 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 672.171 | |
| Forward PE/G | 6.722 | |
| Forward P/S | -337.41 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -1.507 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.086 | |
| Asset Turnover Ratio QoQ | 6.193 % | |
| Asset Turnover Ratio YoY | 4.797 % | |
| Asset Turnover Ratio IPRWA | high: 0.496 median: 0.155 mean: 0.15 PAR: 0.086 low: 0.012 |
|
| Receivables Turnover | 1.668 | |
| Receivables Turnover Ratio QoQ | 5.632 % | |
| Receivables Turnover Ratio YoY | -4.732 % | |
| Receivables Turnover Ratio IPRWA | high: 11.368 mean: 2.232 median: 2.041 PAR: 1.668 low: 0.088 |
|
| Inventory Turnover | 2.647 | |
| Inventory Turnover Ratio QoQ | 9.148 % | |
| Inventory Turnover Ratio YoY | 21.789 % | |
| Inventory Turnover Ratio IPRWA | high: 45.423 mean: 5.287 median: 5.264 PAR: 2.647 low: 0.292 |
|
| Days Sales Outstanding (DSO) | 54.696 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 41.536 | |
| Cash Conversion Cycle Days QoQ | 0.852 % | |
| Cash Conversion Cycle Days YoY | 15.837 % | |
| Cash Conversion Cycle Days IPRWA | high: 197.089 PAR: 41.536 mean: 8.85 median: 1.532 low: -157.517 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.279 | |
| CapEx To Revenue | -0.027 | |
| CapEx To Depreciation | -0.352 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.2 B | |
| Net Invested Capital | $ 1.2 B | |
| Invested Capital | $ 1.2 B | |
| Net Tangible Assets | $ -277.39 M | |
| Net Working Capital | $ 93.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.695 | |
| Current Ratio | 1.696 | |
| Current Ratio QoQ | -0.273 % | |
| Current Ratio YoY | -20.27 % | |
| Current Ratio IPRWA | high: 6.28 PAR: 1.696 mean: 1.286 median: 1.122 low: 0.118 |
|
| Quick Ratio | 1.506 | |
| Quick Ratio QoQ | 1.218 % | |
| Quick Ratio YoY | -21.088 % | |
| Quick Ratio IPRWA | high: 5.554 PAR: 1.506 mean: 0.982 median: 0.892 low: 0.617 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -89.054 | |
| Cost Of Debt | 0.36 % | |
| Interest Coverage Ratio | -11.597 | |
| Interest Coverage Ratio QoQ | -12.628 % | |
| Interest Coverage Ratio YoY | 138.794 % | |
| Interest Coverage Ratio IPRWA | high: 98.083 median: 27.876 mean: 21.794 PAR: -11.597 low: -67.657 |
|
| Operating Cash Flow Ratio | -0.064 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 52.439 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.032 % | |
| Revenue Growth | 6.031 % | |
| Revenue Growth QoQ | -26.702 % | |
| Revenue Growth YoY | -74.666 % | |
| Revenue Growth IPRWA | high: 51.745 % PAR: 6.031 % median: 5.767 % mean: 3.759 % low: -41.658 % |
|
| Earnings Growth | 100.0 % | |
| Earnings Growth QoQ | -125.0 % | |
| Earnings Growth YoY | -264.285 % | |
| Earnings Growth IPRWA | high: 300.0 % PAR: 100.0 % median: 5.542 % mean: -3.608 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 41.294 % | |
| Gross Margin QoQ | -8.974 % | |
| Gross Margin YoY | -7.152 % | |
| Gross Margin IPRWA | high: 90.505 % median: 77.282 % mean: 63.911 % PAR: 41.294 % low: -50.144 % |
|
| EBIT Margin | -14.255 % | |
| EBIT Margin QoQ | -14.261 % | |
| EBIT Margin YoY | -16.885 % | |
| EBIT Margin IPRWA | high: 112.717 % mean: 33.985 % median: 20.683 % PAR: -14.255 % low: -116.648 % |
|
| Return On Sales (ROS) | -14.812 % | |
| Return On Sales QoQ | -3.799 % | |
| Return On Sales YoY | -13.638 % | |
| Return On Sales IPRWA | high: 67.836 % mean: 30.389 % median: 18.878 % PAR: -14.812 % low: -116.648 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 5.2 M | |
| Free Cash Flow Yield | 0.298 % | |
| Free Cash Flow Yield QoQ | -183.008 % | |
| Free Cash Flow Yield YoY | -13.873 % | |
| Free Cash Flow Yield IPRWA | high: 10.909 % median: 1.031 % mean: 0.973 % PAR: 0.298 % low: -14.742 % |
|
| Free Cash Growth | -160.072 % | |
| Free Cash Growth QoQ | 197.338 % | |
| Free Cash Growth YoY | 9.857 % | |
| Free Cash Growth IPRWA | high: 298.25 % mean: 34.813 % median: 20.71 % PAR: -160.072 % low: -422.717 % |
|
| Free Cash To Net Income | -0.286 | |
| Cash Flow Margin | -7.193 % | |
| Cash Flow To Earnings | 0.472 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.313 % | |
| Return On Assets QoQ | -13.448 % | |
| Return On Assets YoY | -22.031 % | |
| Return On Assets IPRWA | high: 13.698 % mean: 3.884 % median: 2.29 % PAR: -1.313 % low: -12.964 % |
|
| Return On Capital Employed (ROCE) | -1.366 % | |
| Return On Equity (ROE) | -0.022 | |
| Return On Equity QoQ | -11.433 % | |
| Return On Equity YoY | -24.24 % | |
| Return On Equity IPRWA | high: 0.294 median: 0.044 mean: 0.042 PAR: -0.022 low: -0.242 |
|
| DuPont ROE | -2.142 % | |
| Return On Invested Capital (ROIC) | -1.359 % | |
| Return On Invested Capital QoQ | 15.267 % | |
| Return On Invested Capital YoY | -112.047 % | |
| Return On Invested Capital IPRWA | high: 15.138 % mean: 7.638 % median: 4.236 % PAR: -1.359 % low: -6.709 % |
|