Noble Romans Inc (NROM) stock analysis
Close on Oct 19, 2026Market cap $13.72MP/E 19.3Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Weak7 of 30 checks passed
Noble Romans passes 7 of the 30 checks behind our score; 20 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 1/6
- Past performance
- 5/6
- Financial health
- 1/6
- Dividend
- 0/6
What stands out
Return on equity over 15%
Return on equity was 34.3% over the last twelve months and averaged 17.7% over five years.
Return on capital over 10%
Return on invested capital was 73.2%, above the 10% that usually covers the cost of capital.
Growing faster than the industry
Revenue grew 8.0% over the last twelve months; the Eating and Drinking Places median is 5.9%.
Return on equity above the industry
Noble Romans's return on equity of 34.3% is above the Eating and Drinking Places median of 7.9%.
What to watch
Revenue growing under 10% a year
Revenue grew 4.4% a year over the last three fiscal years, short of the 10% we look for.
Interest not well covered
Operating income covers interest expense 1.7 times; we look for at least 5.
No dividend
Noble Romans has not paid a dividend in the last twelve months.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth1/6
Revenue growing under 10% a year
Revenue grew 4.4% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 8.0% over the last twelve months; the Eating and Drinking Places median is 5.9%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
This company does not report gross profit.
Past performance5/6
Return on equity over 15%
Return on equity was 34.3% over the last twelve months and averaged 17.7% over five years.
Return on capital over 10%
Return on invested capital was 73.2%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Noble Romans's return on equity of 34.3% is above the Eating and Drinking Places median of 7.9%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 6.6% over the last twelve months, against a 5-year average of 2.4%.
Net margin above the industry
Noble Romans's net margin of 6.6% is above the Eating and Drinking Places median of 1.9%.
Financial health1/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest not well covered
Operating income covers interest expense 1.7 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 1.33 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Noble Romans has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Noble Romans. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 12.8
- Eating and Drinking Places median 28.5
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.7% | +4.4% | +7.4% | +7.9% | |
| Operating income | +63.1% | +77.8% | +0.8% | -2.0% | |
| Net income | – | – | – | +4.1% | |
| EPS, diluted | – | – | – | 0.0% | |
| Free cash flow | +51.8% | – | – | +10.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -6.0% | -105.6% | 41.5% | |
| Return on assets | -4.5% | -28.7% | 7.2% | |
| Current ratio | 2.14 | 2.60 | 0.40 | |
| Debt to equity | 0.02 | – | 1.02 | |
| Net debt to EBITDA | -0.05× | – | 1.07× | |
| Interest coverage | 137.6× | 1.2× | 1.8× | |
| Capex to revenue | 4.6% | 18.1% | 0.9% | |
| Diluted shares | 21M | 23M | 32M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Noble Romans generated $5.18M from operations and spent $2.20M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.1% | 1.01× | 5.78× | 41.5% |
| FY2024 | -0.0% | 0.86× | 8.00× | -0.1% |
| FY2023 | 10.2% | 0.78× | 12.69× | 100.7% |
| FY2022 | -9.1% | 0.77× | 10.46× | -72.9% |
| FY2021 | 3.7% | 0.73× | 7.20× | 19.4% |
| FY2020 | -46.7% | 0.61× | 3.68× | -105.6% |
| FY2019 | -3.2% | 0.67× | 2.18× | -4.7% |
| FY2018 | -24.6% | 0.72× | 1.84× | -32.6% |
| FY2017 | -34.4% | 0.51× | 1.57× | -27.4% |
| FY2016 | -11.1% | 0.41× | 1.33× | -6.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$1.17M
- Cash generatingOperating cash flow above zero$1.24M
- Return on assets improvedROA up on the prior year-0.0% → 7.0%
- Earnings backed by cashOperating cash flow above net income$1.24M vs $1.17M
- Less leverageLong-term debt to assets fell26.1% → 22.1%
- Better liquidityCurrent ratio rose0.90 → 0.40
- No dilutionShare count did not rise24M → 32M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.82 → 0.98
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