STKS
ONE Group Hospitality, Inc.
Next earnings Aug 3, 2026 · consensus $-0.01 EPS, $210M rev
Last earnings +1.6% on 2026-05-06
$1.97
▼ -4.37%$1.97▼ -52.42%
over 1Y
L $1.67H $5.13
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-4.4%
1W+8.2%
1M+4.8%
3M+10.7%
YTD+7.1%
1Y-52.4%
Avoid
Conviction
Horizon
Medium (3–12mo)
Street · 11 analysts
Buy
Negative equity, $4M cash against $343M debt, and a -$92M loss make STKS a distressed, uninvestable balance sheet despite acquisition-fueled 'growth.'
Stockholders' equity -$75.8M · FY2025
STKS's 19.7% revenue jump to $806M is almost entirely the May 2024 Benihana acquisition, not organic strength — management attributes the $132.4M increase to acquiring Safflower Holdings, while combined same-store sales fell -3.7% for 2025 (STK owned -3.4%, Grill Concepts owned -12.5%, non-core Grill -16.5%). Underneath the acquired scale, the base business is shrinking, and the company is in the middle of a defensive restructuring: closing four Kona Grills and two RA Sushis in 2025, exiting sports-arena Benihanas and management/license agreements, and planning to convert up to nine more Grill locations. This is a portfolio being triaged, not a growing chain.
The balance sheet is the disqualifier. Stockholders' equity is negative -$75.8M (down from a positive figure a year ago) against $773M of total liabilities including $334M long-term debt and $9.3M current debt, while cash collapsed 84.9% to just $4.17M. Current liabilities of $133M dwarf current assets of $56.9M — a working-capital hole with almost no cash cushion. The FY2025 net loss of -$92.2M (EPS -$4.05) sits below a positive $8.0M operating income, meaning the damage is from impairments (the 10-K cites 'loss on impairment of non-current assets'), interest on the debt load, and integration costs — a company that can generate a little restaurant profit but not enough to cover its capital structure.
Is STKS a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~60d expiry
- Long put 2 @ ~0.20 est
- Short put 2 @ ~0.20 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $277M | $317M | $333M | $673M | $806M |
| Gross profit | — | — | — | — | — |
| Operating income | $19.4M | $16.3M | $9.29M | $8.90M | $8.00M |
| Net income | $31.3M | $13.5M | $4.72M | -$17.1M | -$92.2M |
| Diluted EPS | $0.93 | $0.40 | $0.15 | -$1.16 | -$4.05 |
| Net margin | 11.3% | 4.3% | 1.4% | -2.5% | -11.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$401M
EV / EBITDA7.8
EV / Sales0.5
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-148.3%
FCF yield-43.9%
Quality & risk
ROIC (est.)—
Free cash flow-$27.3M
Total debt$343M
Net cash-$339M
Altman Z-Score0.74 distress
Piotroski F-Score3/9
Capital returns
Buyback yield1.8%
Dividend yield (est.)—
Shareholder yield1.8%
Shares Δ YoY+0.7%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Shareholder vote2026-05-19
Disclosed annual meeting vote results; routine governance items
- 8-K Earnings results2026-05-06
Q1 FY2026: STK/Grill same-store sales soft, equity still negative
- 10-Q Quarterly report2026-05-06
Q1 FY2026: STK/Grill same-store sales soft, equity still negative
- DEF 14A Proxy statement2026-04-09
Proxy for annual meeting; director slate and pay up for vote
- 8-K Other event2026-03-19
FY2025 10-K: $92M net loss, negative equity, SSS -3.7%
- 10-K Annual report2026-03-19
FY2025 10-K: $92M net loss, negative equity, SSS -3.7%
- 8-K Earnings results2026-03-13
Late-filing notice: FY2025 annual report delayed
- NT 10-K Late filing notice2026-03-13
Late-filing notice: FY2025 annual report delayed
- 8-K Earnings results2026-01-12
Preliminary FY2025 sales update flags weak same-store trends
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-02open ↗4Period ending 2026-06-302026-07-02open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗S-8Filing2026-05-20open ↗8-KPeriod ending 2026-05-192026-05-19open ↗10-QPeriod ending 2026-03-292026-05-06open ↗8-KPeriod ending 2026-05-062026-05-06open ↗4Period ending 2026-04-292026-05-01open ↗
Frequently asked
- Is ONE Group Hospitality, Inc. (STKS) a buy?
- STKS currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. Negative equity, $4M cash against $343M debt, and a -$92M loss make STKS a distressed, uninvestable balance sheet despite acquisition-fueled 'growth.'
- What is ONE Group Hospitality, Inc.'s quality score?
- STKS scores 43.827447079420665/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001399520, latest 10-Q filed 2026-05-06) · EODHD · Proprietary analysis · as of 7/3/2026, 4:45:38 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 12:45 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.