The stock trades near the $102 merger price, capping upside. The delayed CFIUS review introduces execution risk — monitor for any regulatory or shareholder approval updates. The underlying business is seeing revenue growth offset by severe margin compression from beef costs, which could pressure the standalone valuation if the deal falls through.
Price Chart
Executive Summary
Nathan's Famous reported fiscal Q4 and full-year FY2026 results. Q4 revenue grew 13.9% YoY to $35.1M, but net income fell 33.7% to $2.8M ($0.68/diluted share) from $4.2M ($1.03) a year ago, driven by a 19% surge in beef costs that compressed branded product margins. The pending $102/share acquisition by Smithfield Foods (announced Jan 2026) remains the dominant catalyst, but the closing timeline has slipped to H2 2026 due to CFIUS delays from a partial government shutdown.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue $35.1M vs $30.8M YoY (+13.9%)
- Q4 net income $2.8M vs $4.2M YoY (-33.7%)
- Q4 diluted EPS $0.68 vs $1.03 YoY
- Full-year FY2026 revenue $162.1M vs $148.2M YoY (+9.4%)
- Full-year net income $20.0M vs $24.0M YoY (-16.7%)
- Full-year diluted EPS $4.85 vs $5.87 YoY
- Branded product program operating income fell 40% to $4.3M on 19% higher beef costs
- Merger with Smithfield Foods at $102/share (~$450M enterprise value) delayed to H2 2026
- Quarterly dividend maintained at $0.50/share
Financial Impact
Net income declined ~$4M YoY; branded product operating income fell $2.9M due to beef cost inflation
Risk Factors
- Merger closing delayed or blocked by CFIUS / antitrust review
- Continued beef cost inflation eroding branded product margins
- Shareholder vote failure or legal challenges to the merger
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-019921 |
| Document: nath20260527_8k.htm | 0001437749-26-019921 |
| Document: 0001437749-26-019921-index-headers.html | 0001437749-26-019921 |
| Document: 0001437749-26-019921-index.html | 0001437749-26-019921 |
| Document: 0001437749-26-019921.txt | 0001437749-26-019921 |
| 8-K Data (Synthetic) | 0001437749-26-019921 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | SC 13D/A | $102.05 | awaiting T+60 | — | $102.05 (+0.00%) |
Oct 26, 2026 1d ago | 25-NSE | $102.05 | awaiting T+60 | — | $102.05 (+0.00%) |
Oct 26, 2026 1d ago | 8-K | $102.05 | awaiting T+60 | — | $102.05 (+0.00%) |
Oct 14, 2026 12d ago | 8-K | $101.88 | awaiting T+60 | — | $102.05 (+0.17%) |
Aug 7, 2026 11w ago | 8-K | $98.01 | awaiting T+60 | — | $102.05 (+4.12%) |
Jul 24, 2026 13w ago | 10-K/A | $98.18 $101.88 | ▲ +3.77% | ▲ +0.48% | $102.05 (+3.94%) |
Jun 9, 2026 20w ago | 8-K | $101.47 $97.86 | ▲ +3.56% | ▲ +7.37% | $102.05 (−0.57%) |
Jun 9, 2026 20w ago | Press Release | $101.47 $97.86 | ▲ +3.56% | ▲ +7.37% | $102.05 (−0.57%) |
Mar 6, 2026 33w ago | PREM14A | $100.57 $100.99 | ▲ +0.42% | ▼ −11.57% | $102.05 (+1.47%) |
US Market Status
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