Start here if you're new
what it is
BJ's sells pizza, beer, and big-menu casual dining through 219 company-owned restaurants across 31 states.
how it gets paid
Last year S Restaurants made $1.4B in revenue. core restaurant food was the main engine at $1.17B, or 84% of sales.
why it's growing
Revenue grew 3.1% last year. Comparable sales rose 2.6%. That is comp sales → sales growth at existing stores → so what: the current stores are still pulling people in.
what just happened
BJ's just cleared estimates by a penny, with Q4 revenue hitting $355.4M and EPS at $0.66 versus a $0.65 estimate.
At a glance
B balance sheet — gets the job done, barely
20/100 earnings predictability — expect surprises
19.1x trailing p/e — priced about right
0.7% dividend yield — cash in your pocket every quarter
17.5% return on capital — nothing to write home about
xvary composite: 50/100 — below average
What they do
BJ's sells pizza, beer, and big-menu casual dining through 219 company-owned restaurants across 31 states.
This is not a tech moat. It is a habit moat. BJ's has 219 locations in 31 states, and management says menu upgrades, better training, and a refreshed atmosphere are keeping guests coming back. Comparable sales grew 2.0% in 2025, which means same-store sales → sales at existing restaurants → proof people returned without needing a huge wave of new locations.
How they make money
$1.4B
annual revenue · their business grew +3.1% last year
core restaurant food
$1.17B
+3.1%
alcoholic beverages
$0.18B
+3.1%
consumer packaged products
$0.02B
up to $19M
other restaurant revenue
$0.03B
+3.1%
The products that matter
operates casual dining restaurants
Restaurant Operations
$1.4B revenue · 100% of sales
it's the whole company. BJRI generated $1.4B in revenue and kept 3.7% as net profit. If execution improves, you feel it quickly. If it slips, there is nowhere else to hide.
all of revenue
Key numbers
$2.85
fy2027 eps est
$2B
fy2027 rev est
19.1x
trailing p/e
0.7%
dividend yield
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 30 / 100
- long-term debt $90M (9% of capital)
- net profit margin 4.9% — keeps 5 cents of every dollar in revenue
- return on equity 20% — $0.20 profit for every $1 investors have put in
B — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in BJRI 3 years ago → it's now worth $12,950.
The index would have given you $13,880.
source: institutional data · total return
What just happened
beat estimates
BJ's just cleared estimates by a penny, with Q4 revenue hitting $355.4M and EPS at $0.66 versus a $0.65 estimate.
Q4 revenue rose 3.2% and comparable restaurant sales rose 2.6%. The result says traffic and pricing both held up, which matters more than a one-cent beat.
$355.4M
q4 revenue
$0.66
q4 eps
2.6%
comp sales
the number that mattered
Comparable sales rose 2.6%. That is comp sales → sales growth at existing stores → so what: the current stores are still pulling people in.
-
bj’s restaurants is in a position to post solid sales growth.though u.s. consumer confidence is stuck in the doldrums, those in the middle-income category continue to visit the company’s locations.
-
too, we suspect that higherincome individuals are coming in the doors to save money on dining.
-
management has worked hard to keep customers returning.
-
they have improved the menu, enhanced restaurant atmosphere, and bolstered employee training.
-
all this is paying off at the top and bottom lines.also worthy of note, bj’s is regularly refreshing its pazookie meal deals to sustain popularity of the offerings, inclusive of an appealing dessert lineup.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
BJRI does not have much room for an off quarter. The latest quarter already produced a $2.9M loss on $330M of revenue, which tells you exactly how unforgiving a 3.5–3.7% margin model can be.
med
thin-margin model
BJ's generated $1.4B in revenue last year and kept 3.7% as net profit. That is not much buffer.
The recent $2.9M quarterly loss shows how a profitable year can still include loss-making quarters. If traffic slips, profit disappears quickly.
med
demand softening
This is casual dining. Customers choose it with discretionary dollars, not necessity dollars.
The latest quarter grew revenue only 1% from a year ago. If that pace weakens again, the turnaround case gets thinner in a hurry.
med
institutional sellers are not helping the story
Institutions were net sellers for two straight quarters, with 96 buyers versus 110 sellers.
That is not a collapse in sponsorship. It is a signal that bigger holders have been trimming while the stock trades above the $39 midpoint target.
at 3.7% net margin, you do not need a disaster to damage the thesis. You need a few weak quarters in a row.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next quarterly print
The next report needs to show the $2.9M quarterly loss was a wobble, not a pattern. That's the number that matters first.
metric
revenue growth
Last year came in at 3.1%. The latest quarter managed 1% from a year ago. If growth keeps slowing, the valuation gets harder to defend.
trend
margin recovery
Quarterly margin was 3.5%. In a business this thin, a few tenths of a point matter more than a lot of storytelling.
risk
institutional selling
Two straight quarters of net selling is not fatal. A third would make the sponsorship trend harder to dismiss.
Analyst rankings
short-term outlook
average
momentum score 3 — in human-speak, analysts think the stock is acting mostly like the market rather than leading it.
risk profile
average
stability score 3 — you are not buying a bunker stock, but you are not staring at an obvious balance-sheet emergency either.
chart momentum
top 20%
technical score 2 — the chart has looked better than the operating story. That works until fundamentals are asked to do their part.
earnings predictability
20 / 100
earnings are hard to model here. Translation: expect surprises, and do not assume they break your way.
source: institutional data
Institutional activity
institutions have been net selling for 2 consecutive quarters — 96 buyers vs. 110 sellers in 3q2025. total institutional holdings: 24.5M shares. net selling for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$22
$55
$43
current price
$39
target midpoint · 9% from current · 3-5yr high: $75 (+75% · 15% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive