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CARROLS RESTAURANT GROUP INC (TAST) Stock Fundamental Analysis

NASDAQ:TAST - Nasdaq - US14574X1046 - Common Stock - Currency: USD

9.54  -0.01 (-0.1%)

After market: 9.56 +0.02 (+0.21%)

Fundamental Rating

4

Overall TAST gets a fundamental rating of 4 out of 10. We evaluated TAST against 503 industry peers in the Hotels, Restaurants & Leisure industry. While TAST is still in line with the averages on profitability rating, there are concerns on its financial health. TAST is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year TAST was profitable.
In the past year TAST had a positive cash flow from operations.
TAST had negative earnings in 4 of the past 5 years.
In the past 5 years TAST always reported a positive cash flow from operatings.
TAST Yearly Net Income VS EBIT VS OCF VS FCFTAST Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M 100M

1.2 Ratios

The Return On Assets of TAST (2.13%) is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 18.29%, TAST is in the better half of the industry, outperforming 71.64% of the companies in the same industry.
With a Return On Invested Capital value of 4.42%, TAST perfoms like the industry average, outperforming 44.03% of the companies in the same industry.
Industry RankSector Rank
ROA 2.13%
ROE 18.29%
ROIC 4.42%
ROA(3y)-1.71%
ROA(5y)-1.73%
ROE(3y)-17.32%
ROE(5y)-14.63%
ROIC(3y)N/A
ROIC(5y)N/A
TAST Yearly ROA, ROE, ROICTAST Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 -40

1.3 Margins

TAST has a worse Profit Margin (1.81%) than 60.45% of its industry peers.
TAST's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 3.70%, TAST is doing worse than 67.16% of the companies in the same industry.
TAST's Operating Margin has improved in the last couple of years.
The Gross Margin of TAST (39.74%) is worse than 65.67% of its industry peers.
In the last couple of years the Gross Margin of TAST has remained more or less at the same level.
Industry RankSector Rank
OM 3.7%
PM (TTM) 1.81%
GM 39.74%
OM growth 3Y49.37%
OM growth 5Y2.77%
PM growth 3YN/A
PM growth 5Y21.87%
GM growth 3Y1.02%
GM growth 5Y-0.06%
TAST Yearly Profit, Operating, Gross MarginsTAST Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30 40

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TAST is destroying value.
Compared to 1 year ago, TAST has more shares outstanding
Compared to 5 years ago, TAST has more shares outstanding
Compared to 1 year ago, TAST has an improved debt to assets ratio.
TAST Yearly Shares OutstandingTAST Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
TAST Yearly Total Debt VS Total AssetsTAST Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

Based on the Altman-Z score of 1.38, we must say that TAST is in the distress zone and has some risk of bankruptcy.
TAST has a Altman-Z score (1.38) which is comparable to the rest of the industry.
TAST has a debt to FCF ratio of 5.07. This is a neutral value as TAST would need 5.07 years to pay back of all of its debts.
TAST's Debt to FCF ratio of 5.07 is fine compared to the rest of the industry. TAST outperforms 73.88% of its industry peers.
A Debt/Equity ratio of 2.28 is on the high side and indicates that TAST has dependencies on debt financing.
With a Debt to Equity ratio value of 2.28, TAST perfoms like the industry average, outperforming 50.75% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 2.28
Debt/FCF 5.07
Altman-Z 1.38
ROIC/WACC0.49
WACC8.98%
TAST Yearly LT Debt VS Equity VS FCFTAST Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M 300M 400M

2.3 Liquidity

A Current Ratio of 0.49 indicates that TAST may have some problems paying its short term obligations.
TAST's Current ratio of 0.49 is on the low side compared to the rest of the industry. TAST is outperformed by 76.87% of its industry peers.
A Quick Ratio of 0.41 indicates that TAST may have some problems paying its short term obligations.
The Quick ratio of TAST (0.41) is worse than 79.85% of its industry peers.
Industry RankSector Rank
Current Ratio 0.49
Quick Ratio 0.41
TAST Yearly Current Assets VS Current LiabilitesTAST Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

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5

3. Growth

3.1 Past

TAST shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 173.24%, which is quite impressive.
Measured over the past years, TAST shows a quite strong growth in Earnings Per Share. The EPS has been growing by 13.18% on average per year.
Looking at the last year, TAST shows a quite strong growth in Revenue. The Revenue has grown by 8.44% in the last year.
TAST shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.73% yearly.
EPS 1Y (TTM)173.24%
EPS 3YN/A
EPS 5Y13.18%
EPS Q2Q%280%
Revenue 1Y (TTM)8.44%
Revenue growth 3Y6.64%
Revenue growth 5Y9.73%
Sales Q2Q%5.67%

3.2 Future

The Earnings Per Share is expected to grow by 4.34% on average over the next years.
TAST is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.38% yearly.
EPS Next Y10.83%
EPS Next 2Y4.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.76%
Revenue Next 2Y2.88%
Revenue Next 3Y-0.54%
Revenue Next 5Y1.38%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
TAST Yearly Revenue VS EstimatesTAST Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B
TAST Yearly EPS VS EstimatesTAST Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 0.5 -0.5

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5

4. Valuation

4.1 Price/Earnings Ratio

TAST is valuated rather expensively with a Price/Earnings ratio of 18.35.
Based on the Price/Earnings ratio, TAST is valued a bit cheaper than 67.16% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.28. TAST is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 16.55, TAST is valued correctly.
Based on the Price/Forward Earnings ratio, TAST is valued a bit cheaper than 61.19% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.76. TAST is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.35
Fwd PE 16.55
TAST Price Earnings VS Forward Price EarningsTAST Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, TAST is valued cheaply inside the industry as 86.57% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, TAST is valued cheaply inside the industry as 96.27% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.2
EV/EBITDA 6.33
TAST Per share dataTAST EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.69
PEG (5Y)1.39
EPS Next 2Y4.34%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.84%, TAST is not a good candidate for dividend investing.
TAST's Dividend Yield is a higher than the industry average which is at 2.42.
Compared to an average S&P500 Dividend Yield of 2.42, TAST's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.84%

5.2 History

TAST has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years1
TAST Yearly Dividends per shareTAST Yearly Dividends per shareYearly Dividends per share 2021 2023 2024 0.1 0.2 0.3 0.4

5.3 Sustainability

TAST pays out 3.77% of its income as dividend. This is a sustainable payout ratio.
DP3.77%
EPS Next 2Y4.34%
EPS Next 3YN/A
TAST Yearly Income VS Free CF VS DividendTAST Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M
TAST Dividend Payout.TAST Dividend Payout, showing the Payout Ratio.TAST Dividend Payout.PayoutRetained Earnings

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CARROLS RESTAURANT GROUP INC

NASDAQ:TAST (5/15/2024, 8:11:18 PM)

After market: 9.56 +0.02 (+0.21%)

9.54

-0.01 (-0.1%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)05-09 2024-05-09/amc
Earnings (Next)08-08 2024-08-08/amc
Inst Owners5.14%
Inst Owner Change0%
Ins Owners5.93%
Ins Owner Change0%
Market Cap524.03M
Analysts45.71
Price Target9.74 (2.1%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.84%
Yearly Dividend0
Dividend Growth(5Y)N/A
DP3.77%
Div Incr Years0
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)147.43%
Min EPS beat(2)96.08%
Max EPS beat(2)198.79%
EPS beat(4)4
Avg EPS beat(4)451.87%
Min EPS beat(4)96.08%
Max EPS beat(4)1412.61%
EPS beat(8)7
Avg EPS beat(8)235.05%
EPS beat(12)9
Avg EPS beat(12)154.44%
EPS beat(16)10
Avg EPS beat(16)212.27%
Revenue beat(2)0
Avg Revenue beat(2)-1.25%
Min Revenue beat(2)-1.97%
Max Revenue beat(2)-0.53%
Revenue beat(4)2
Avg Revenue beat(4)0.17%
Min Revenue beat(4)-1.97%
Max Revenue beat(4)3.07%
Revenue beat(8)2
Avg Revenue beat(8)-0.59%
Revenue beat(12)3
Avg Revenue beat(12)-0.52%
Revenue beat(16)3
Avg Revenue beat(16)-0.93%
PT rev (1m)-7.06%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-20%
EPS NY rev (1m)0%
EPS NY rev (3m)5.61%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.61%
Valuation
Industry RankSector Rank
PE 18.35
Fwd PE 16.55
P/S 0.28
P/FCF 6.2
P/OCF 3.77
P/B 2.83
P/tB N/A
EV/EBITDA 6.33
EPS(TTM)0.52
EY5.45%
EPS(NY)0.58
Fwd EY6.04%
FCF(TTM)1.54
FCFY16.14%
OCF(TTM)2.53
OCFY26.55%
SpS34.16
BVpS3.37
TBVpS-4.5
PEG (NY)1.69
PEG (5Y)1.39
Profitability
Industry RankSector Rank
ROA 2.13%
ROE 18.29%
ROCE 5.01%
ROIC 4.42%
ROICexc 4.57%
ROICexgc 6.74%
OM 3.7%
PM (TTM) 1.81%
GM 39.74%
FCFM 4.51%
ROA(3y)-1.71%
ROA(5y)-1.73%
ROE(3y)-17.32%
ROE(5y)-14.63%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y66.87%
ROICexcg growth 5Y-11.6%
ROICexc growth 3Y66.57%
ROICexc growth 5Y-6.92%
OM growth 3Y49.37%
OM growth 5Y2.77%
PM growth 3YN/A
PM growth 5Y21.87%
GM growth 3Y1.02%
GM growth 5Y-0.06%
F-Score9
Asset Turnover1.18
Health
Industry RankSector Rank
Debt/Equity 2.28
Debt/FCF 5.07
Debt/EBITDA 2.94
Cap/Depr 73.57%
Cap/Sales 2.91%
Interest Coverage 2.31
Cash Conversion 96.88%
Profit Quality 249.68%
Current Ratio 0.49
Quick Ratio 0.41
Altman-Z 1.38
F-Score9
WACC8.98%
ROIC/WACC0.49
Cap/Depr(3y)62.2%
Cap/Depr(5y)90.23%
Cap/Sales(3y)2.75%
Cap/Sales(5y)4.38%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)173.24%
EPS 3YN/A
EPS 5Y13.18%
EPS Q2Q%280%
EPS Next Y10.83%
EPS Next 2Y4.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)8.44%
Revenue growth 3Y6.64%
Revenue growth 5Y9.73%
Sales Q2Q%5.67%
Revenue Next Year3.76%
Revenue Next 2Y2.88%
Revenue Next 3Y-0.54%
Revenue Next 5Y1.38%
EBIT growth 1Y381.22%
EBIT growth 3Y59.29%
EBIT growth 5Y12.78%
EBIT Next Year121.36%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y586.12%
FCF growth 3Y21.64%
FCF growth 5Y75.37%
OCF growth 1Y568.98%
OCF growth 3Y10.23%
OCF growth 5Y11.48%