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BT Brands (BTBD) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 17, 2026 · BT Brands (BTBD) Q2 2026 earnings results →

Q2 2026 Revenue down 6% year over year to $3.6M · 16¢ of every $1 of revenue kept as net profit · operating margin 3.3%

BT Brands made $3.6M in Q2 2026 (-6% Y/Y). Operating margin 3.3%, net earnings $576K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 17, 2026.

Revenue$3.6M
Year over year-6%
Operating margin3.3%
Net earnings$576K
Operating cash flow$215K

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $3.6M in Q2 2026, down 6% year over year and up 25% from the previous quarter.

Operating profit was $117K, a 3.3% margin (up 5.3 points year over year). Total costs fell 11% while revenue fell 6%. Net earnings were $576K, up 947% year over year. The effective tax rate was 0.0%. Non-operating items added $459K, 80% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $215K (down 44% year over year), 37% of net earnings. Non-cash charges added back $152K of depreciation and amortization and $43K of share-based compensation. Working capital and other items used $556K. Capital expenditures of $53K left free cash flow of $162K.

Quarterly history

BT Brands revenue by quarterBT Brands revenue by quarter$3.2MQ4 2024$3.2MQ1 2025$3.8MQ2 2025$3.9MQ3 2025$2.6MQ4 2025$2.8MQ1 2026$3.6MQ2 2026
BT Brands net earnings by quarterBT Brands net earnings by quarter−$1.6MQ4 2024−$330KQ1 2025$55KQ2 2025$915KQ3 2025−$1.3MQ4 2025−$751KQ1 2026$576KQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 17, 2026$3.6M-6%3.3%$576K$215K
Q1 202610-QMay 18, 2026$2.8M-12%-8.2%−$751K−$98K
Q4 202510-KMar 30, 2026$2.6M-17%-27.9%−$1.3M−$118K
Q3 202510-QNov 17, 2025$3.9M-11%19.1%$915K$325K
Q2 202510-QAug 19, 2025$3.8M-8%-2.0%$55K$384K
Q1 202510-QMay 14, 2025$3.2M+1%-9.0%−$330K−$307K
Q4 202410-KMar 31, 2025$3.2M+6%-29.6%−$1.6M−$516K

Charts

BT Brands: revenue growth, year over year and quarter over quarterBT Brands: revenue growth, year over year and quarter over quarterY/YQ/Q+6%Q4 2024+1%+2%Q1 2025-8%+17%Q2 2025-11%+2%Q3 2025-17%-32%Q4 2025-12%+8%Q1 2026-6%+25%Q2 2026
Latest (Q2 2026): Y/Y -6%, Q/Q +25%.
BT Brands: where the cash came from (+) and went (−), TTM to Q2 2026BT Brands: where the cash came from (+) and went (−), TTM to Q2 2026Other investing$1.2MCash drawn (+) / kept (−)−$1.0MOperating cash flow$325KNet borrowing (+) / repaid (−)−$191KCapital spending−$142KOther financing−$114K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
BT Brands: profit against cash, quarter by quarterBT Brands: profit against cash, quarter by quarterNet incomeOperating cash flow−$219K$129KQ3 2024−$1.6M−$516KQ4 2024−$330K−$307KQ1 2025$55K$384KQ2 2025$915K$325KQ3 2025−$1.3M−$118KQ4 2025−$751K−$98KQ1 2026$576K$215KQ2 2026
Latest (Q2 2026): Net income $576K, Operating cash flow $215K.
BT Brands: long-term debt falling due (FY2025)BT Brands: long-term debt falling due (FY2025)$192K2026$198K2027$213K2029$219K2030$1.1MLater
Cash $846K, short-term investments $3.6M, long-term debt $2.1M at 2025-12-28.
BT Brands in its industry: growth against margin (41 companies, SIC 5812)BT Brands in its industry: growth against margin (41 companies, SIC 5812)revenue growth, year over year →↑ operating marginmedian +4%median 6%MCDARMKYUMCCMGDRIQSRQSPYUMTXRHEATCAKEBLMNCBRLPLAYPZZABJRICAVAFWRGRRGBJACKDINJMKEPTLOWINGSTKSSGNDLSLOCOBH-AKRUSRICKBDLGENKNATHARKRGTIMLVOREBNNROMBABBBTBD (-6%, 3%)
Retail-Eating Places; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About BT Brands

In this Annual Report, and unless otherwise indicated, the terms “BT Brands,” the “Company,” “we,” “us,” “our,” “our Company,” and “our business” refer to BT Brands, Inc. together with its consolidated subsidiaries. The following discussion should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this Annual Report. Due to rounding, figures in tables may not sum exactly.

In its own words, from its 10-K, filed Mar 30, 2026.

BT Brands against its Retail-Eating Places peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -6% against the peers' median +5%. Operating margin: 3.3% against the peers' median 13.0%.

CompanyQuarterRevenueY/YOp. margin
BTBD BT BrandsQ2 2026$3.6M-6%3.3%
MCD McDonald'sQ3 2026$7.2B+1%50.2%
ARMK AramarkQ3 FY26$5.1B+9%4.3%
YUMC Yum China HoldingsQ3 2026$3.5B+8%13.0%
CMG Chipotle Mexican GrillQ3 2026$3.3B+10%13.7%
DRI Darden RestaurantsQ1 FY27$3.2B+5%10.0%
QSR Restaurant Brands InternationalQ3 2026$2.5B+3%27.6%
YUM Yum BrandsQ3 2026$2.1B+4%112.8%
TXRH Texas RoadhouseQ3 2026$1.6B+10%6.5%

Source: BT Brands 10-Q on SEC EDGAR · CIK 1718224 · Retail-Eating Places

13F: who owns BTBD and who is buying

Largest holders of BTBD (13F)Largest holders of BTBD (13F)Citadel Advisors LLC$49KVanguard Group$47KSusquehanna International Group, …$45KVanguard Capital Management LLC$32KGeode Capital Management, LLC$26KXTX Topco$24KTwo Sigma Investments, LP$21KState Street$17KJane Street Group, LLC$12KTower Research Capital LLC$4K
Funds' net buying of BTBD by quarter (13F)Funds' net buying of BTBD by quarter (13F)$02024-12$7K2025-03$5K2025-06$92K2025-09$191K2025-12−$433K2026-03$60K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BTBD

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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