# BJ's Restaurants, Inc. (BJRI)

> Source: Nexqual · https://nexqual.com/BJRI · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, BJ's Restaurants, Inc. (BJRI), nexqual.com/BJRI" · informational, not investment advice.

**Price:** USD 58.79 (+3.54% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 56.78 · day 56.13–58.88 · 52w 28.46–74.6 · market cap $1.25B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.43B, net income $40.9M (2.9% margin), free cash flow $46.0M (SEC filings).
- Valuation: P/E 30.6x (avg 36.8x at the last 3 fiscal year-ends), EV/EBITDA 10.4x, net debt $29.6M.
- Analysts: Buy (mean 2.44 on a 1–5 scale) (9 analysts), mean target USD 74.71 (range 65–82).
- Total return with dividends: 1Y +79.8% vs S&P 500 +14.9%; 5Y +63.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.16, revenue estimate $346M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.09B | $1.28B | $1.33B | $1.36B | $1.40B | $1.43B |
| Gross profit | $799M | $934M | $987M | $1.01B | $1.05B | — |
| Operating income | -$16.5M | -$5.5M | $13.8M | $14.1M | $46.3M | $39.2M |
| Net income | -$3.6M | $4.1M | $19.7M | $16.7M | $48.8M | $40.9M |
| EPS (diluted) | -$0.16 | $0.17 | $0.82 | $0.70 | $2.16 | — |
| Free cash flow | $22.1M | -$27.5M | $6.9M | $24.6M | $40.9M | $46.0M |
| Gross margin | 73.5% | 72.8% | 74.0% | 74.2% | 74.7% | — |
| Operating margin | -1.5% | -0.4% | 1.0% | 1.0% | 3.3% | 2.7% |
| Net margin | -0.3% | 0.3% | 1.5% | 1.2% | 3.5% | 2.9% |
| Revenue growth | +39.6% | +18.1% | +3.8% | +1.8% | +3.1% | — |
| Cash + short-term investments | $38.5M | $24.9M | $29.1M | $26.1M | $23.8M | — |
| Total debt | $50.0M | $60.0M | $68.0M | $66.5M | $85.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 30.6x · P/S 0.9x · EV/EBITDA 10.4x · EV/Sales 0.9x · P/FCF 27.2x · P/B 3.1x · FCF yield 3.68% · Earnings yield 3.27% · Buyback yield (TTM) 3.70% · Net debt $29.6M · EV $1.28B
P/E at fiscal year-ends: Dec 2025 18.3x, Dec 2024 50.1x, Jan 2024 42.1x.

## Analysts
Consensus Buy (mean 2.44 on a 1–5 scale), 9 analysts; mean target USD 74.71 (low 65, high 82).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-01 | Mizuho | Upgrade | Neutral → Outperform | $74 → $76 |
| 2026-07-31 | Citigroup | Target raised | Neutral | $68 → $75 |
| 2026-07-31 | Benchmark | Target raised | Buy | $68 → $80 |
| 2026-07-20 | Citigroup | Target raised | Neutral | $47 → $68 |
| 2026-07-17 | William Blair | Upgrade | Market Perform → Outperform |  |
| 2026-07-17 | Benchmark | Target raised | Buy | $50 → $68 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +79.8% | +63.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +80.2% | +10.3% |
| Volatility (annualized) | 43.3% | 43.2% |
| Max drawdown | -26.6% (Jan 2026→Mar 2026) | -44.3% (Nov 2021→Jul 2022) |

## Peers (Restaurants)
SG (Sweetgreen, Inc.) USD 10.22 +0.59% · WEN (Wendy's Company (The)) USD 6.57 +4.62% · BH (Biglari Holdings Inc.) USD 395.33 -4.58% · CBRL (Cracker Barrel Old Country Stor) USD 67.31 +2.37% · BLMN (Bloomin' Brands, Inc.) USD 10.27 +2.14% · ARCO (Arcos Dorados Holdings Inc.) USD 8.02 -0.87%

## More
Full page: https://nexqual.com/BJRI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.16 | $0.14 | +20.4% | $345.9M | 9 |
| Next quarter (ends 2026-12-31) | $0.71 | $0.70 | +1.1% | $365.8M | 9 |
| Current fiscal year (ends 2026-12-31) | $2.37 | $2.28 | +4.1% | $1.46B | 9 |
| Next fiscal year (ends 2027-12-31) | $2.70 | $2.65 | +1.9% | $1.52B | 9 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±14.2%; last 8 reports averaged ±7.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 61.7% | ±14.2% |
| 2026-12-18 | 56 | 49.4% | ±15.8% |
| 2027-01-15 | 84 | 47.0% | ±18.2% |
| 2027-04-16 | 175 | 47.5% | ±26.1% |