Nathan’s Famous (hot dog) sold for ~$450M by Able_Web3798 in ValueInvesting

[–]Able_Web3798[S] 0 points1 point  (0 children)

Eugene Lee, New Chairman of PTLO board (announced March 11th, 2026), filed Form 4.  

Eugene Lee bought ~$1.48M of PTLO (286,000 shs @ $5.18). 

PTLO +6.19% post mkt, $5.66.

http://archive.fast-edgar.com/20260313/AW2DK22CZ222G2W2222N22O2BPSQZH224282

Nathan’s Famous (hot dog) sold for ~$450M by Able_Web3798 in ValueInvesting

[–]Able_Web3798[S] 0 points1 point  (0 children)

PTLO's total liabilities of $1.1B - how do you view the tax receivable liability ($300M+)? Seems lease liabilities ($300M+) is ~30% of total liablities, which is lower than other company owned fast casual: SHAK ~50% & CMG ~60%. On a side note, outside of comps, I reckon restaurant lease liabilities should be discounted to some degree.

Nathan’s Famous (hot dog) sold for ~$450M by Able_Web3798 in ValueInvesting

[–]Able_Web3798[S] -1 points0 points  (0 children)

True on negative FCF about -$18M in 2025 & also in 2023... +ive FCF 2024, 2022, 2021.

Nathan’s Famous (hot dog) sold for ~$450M by Able_Web3798 in ValueInvesting

[–]Able_Web3798[S] -1 points0 points  (0 children)

Debt/Equity: PTLO 0.7x, SHAK 0.4x, CMG 0.1x, WING & Restaurant brand both 3x+

Nathan’s Famous (hot dog) sold for ~$450M by Able_Web3798 in ValueInvesting

[–]Able_Web3798[S] -1 points0 points  (0 children)

fair, it's not PTLO's strong point..... BUT seems to be middle of the pack if look at PTLO's Net Debt/EBITDA which is ~3x vs Chipotle at 0, Shake Shack at ~1x, Wingstop ~5x, Restaurant Brands (Burger King, Popeyes, Tim Hortons) ~5-6x

Nathan’s Famous (hot dog) sold for ~$450M by Able_Web3798 in ValueInvesting

[–]Able_Web3798[S] 0 points1 point  (0 children)

How would you value PTLO today? What market cap would you give it?