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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 132 industry peers in the Hotels, Restaurants & Leisure industry. There are concerns on the financial health of TAST while its profitability can be described as average. 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

TAST had positive earnings in the past year.
In the past year TAST had a positive cash flow from operations.
In the past 5 years TAST reported 4 times negative net income.
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

TAST has a Return On Assets of 2.13%. This is comparable to the rest of the industry: TAST outperforms 47.76% of its industry peers.
With a decent Return On Equity value of 18.29%, TAST is doing good in the industry, outperforming 71.64% of the companies in the same industry.
TAST has a Return On Invested Capital of 4.42%. This is comparable to the rest of the industry: TAST outperforms 44.03% of its industry peers.
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

Looking at the Profit Margin, with a value of 1.81%, TAST is doing worse than 60.45% of the companies in the same industry.
TAST's Profit Margin has improved in the last couple of years.
TAST has a Operating Margin of 3.70%. This is in the lower half of the industry: TAST underperforms 67.16% of its industry peers.
In the last couple of years the Operating Margin of TAST has grown nicely.
Looking at the Gross Margin, with a value of 39.74%, TAST is doing worse than 65.67% of the companies in the same industry.
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

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TAST is destroying value.
Compared to 1 year ago, TAST has more shares outstanding
Compared to 5 years ago, TAST has more shares outstanding
The debt/assets ratio for TAST has been reduced compared to a year ago.
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's Altman-Z score of 1.38 is in line compared to the rest of the industry. TAST outperforms 44.03% of its industry peers.
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.
Looking at the Debt to FCF ratio, with a value of 5.07, TAST is in the better half of the industry, outperforming 73.88% of the companies in the same industry.
A Debt/Equity ratio of 2.28 is on the high side and indicates that TAST has dependencies on debt financing.
TAST has a Debt to Equity ratio of 2.28. This is comparable to the rest of the industry: TAST outperforms 50.75% of its industry peers.
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

TAST has a Current Ratio of 0.49. This is a bad value and indicates that TAST is not financially healthy enough and could expect problems in meeting 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.
TAST shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 13.18% yearly.
Looking at the last year, TAST shows a quite strong growth in Revenue. The Revenue has grown by 8.44% in the last year.
The Revenue has been growing by 9.73% on average over the past years. This is quite good.
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

TAST is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.34% yearly.
Based on estimates for the next years, TAST will show a small growth in Revenue. The Revenue will grow by 1.38% on average per year.
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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

Based on the Price/Earnings ratio of 18.35, the valuation of TAST can be described as rather expensive.
Based on the Price/Earnings ratio, TAST is valued a bit cheaper than 67.16% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.48, TAST is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 16.55, the valuation of TAST can be described as correct.
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 36.52. TAST is valued rather cheaply 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 20 40 60 80

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

TAST's 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.
Compared to an average industry Dividend Yield of 3.47, TAST pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.34, 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%