Rave Restaurant Group, Inc.
RAVE Consumer Cyclical Restaurants
Rave Restaurant Group, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $12.9 million, up 7.23% from fiscal 2025. In the quarter to June 2026, revenue grew 8.81%, EPS was flat and free cash flow grew 30.0%, each against the same quarter a year earlier. Dividend growth for three consecutive years, operating cash flow growth for three.
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Rave Restaurant Group, Inc. (RAVE) Altman Z-score
Rave Restaurant Group, Inc.'s Altman Z-score for fiscal 2026 is 15.64, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 15.64 | 2.81 |
| FY2025 | 12.82 | 4.87 |
| FY2024 | 7.95 | 1.16 |
| FY2023 | 6.79 | 3.08 |
| FY2022 | 3.72 | 1.05 |
| FY2021 | 2.66 | 1.87 |
| FY2020 | 0.80 | (4.48) |
| FY2019 | 5.27 | 1.73 |
| FY2018 | 3.55 | 4.40 |
| FY2017 | −0.85 | (6.32) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.72 | — | 0.86 | |
| Retained earnings / total assets | 0.54 | — | 0.75 | |
| EBIT / total assets | 0.22 | — | 0.72 | |
| Market value of equity / total liabilities | 21.07 | — | 12.64 | |
| Sales / total assets | 0.66 | — | 0.66 | |
| Altman Z-score | Safe zone | 15.64 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 16.19 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| RAVE Rave Restaurant Group, Inc. | 15.6× |
| GTIM Good Times Restaurants Inc. compare | 1.5× |
| ARKR Ark Restaurants Corp. compare | 1.4× |
| CCHH CCH Holdings Ltd compare | 1.2× |
| STKS The ONE Group Hospitality, Inc. compare | 0.7× |
| PETZ TDH Holdings, Inc. compare | 0.6× |
| GENK GEN Restaurant Group, Inc. compare | 0.4× |
| VENU Venu Holding Corporation compare | 0.4× |
| THCH TH International Limited compare | −4.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets