BT Brands Inc. (BTBD) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, BTBD scores 49 out of 100, a letter grade of D, with the verdict "Roarable Sell — Underperform / Distribution Warning." The five pillars are:

• Fundamental Cash Engine: 11 / 20. Per the RQD rating, this reflects ROIC of -3.5% and an FCF yield of 0.99%. For a prospective investor, negative return on invested capital means the business is not currently generating returns above its capital base, and a sub-1% FCF yield offers little cash cushion relative to the share price.
• Whale 13F Flow: 13 / 20. The RQD rating describes this pillar as reflecting institutional accumulation and options positioning. The source data does not provide the underlying 13F holdings, so the score cannot be traced to specific institutional activity.
• Insider Conviction: 5 / 20. Per the RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. This is the lowest-scoring pillar, indicating weak insider conviction signals in the source data.
• Macro Regime Fit: 13 / 20. Per the RQD rating, beta is 1.0 with sector sensitivity noted. A beta of 1.0 means the stock is modeled to move in line with the broader market, offering no defensive dampening.
• Forensic Balance Sheet: 7 / 20. Per the RQD rating, the Altman Z-Score is 2.58, the Piotroski F-Score is 6/9, and Debt/Equity is 0.3. The balance sheet metrics are moderate, not distressed, but do not offset the weak cash-generation profile.

Taken together, the RQD rating points to a company with thin operating economics, weak insider signals, and a valuation that the cash-flow data does not strongly support. Upside drivers would need to come from operational improvement or sentiment shifts; the rating's negative verdict frames the current distribution risk. Valuation tradeoffs are difficult to assess because forward earnings metrics are not available in source data.

BT Brands Inc. (BTBD) is a NASDAQ-listed company classified in the Consumer Discretionary sector and the Restaurants industry. Per the profile, the company operates as a restaurant business. The source data does not specify its product offerings, customer base, or revenue model beyond the sector and industry classification.

Per the SEC financials, revenue declined from $14.8M in FY 2024 to $13.5M in FY 2025, while net loss narrowed from $-2.3M to $-0.7M and free cash flow turned positive at $0.1M. Per the market data, gross margin is 0%, operating margin is -2.7%, net margin is -5.1%, and ROIC is -3.5%. Per the RQD rating, the Altman Z-Score is 2.58 and the Piotroski F-Score is 6/9, with Debt/Equity at 0.3. Cash balances are not available in source data for any period.

The news wire contains six items, all tagged to BTBD, with the majority of headlines being generic market commentary rather than company-specific events. Notable items include a "Top U.S. Stock Gainers" listing tagged as a CATALYST, and a market report noting BTBD slipping 2.31% to $1.69, consistent with a near-mid-range trading position. Risk watch items include the sub-$2 price relative to a $1.03–$2.48 range and the negative operating and net margins. Several headlines reference other tickers (GTIM, SERV, BIVI) and carry unreliable source attribution, so they should not be treated as company-specific evidence.

The Butterfly Supply-Chain Graph carries a LIQUIDITY_TAILWIND signal with a severity score of 94 and a BULLISH direction, labeled as a Macro Tailwind Score of 96/100. Per that graph, BTBD is assigned a 3.81x Net Liquidity beta with r = -0.25, and the True Net Liquidity Index is cited at $5,745.73B with a -0.64% 4-week rate of change. This signal is macro-driven and is not corroborated by company-specific fundamentals in the source data, which show negative returns on capital.

Per the Butterfly Supply-Chain Graph, the supply chain is listed as "NONE" and no butterfly links are provided. Upstream and downstream dependencies are therefore not available in source data. The sector is Consumer Discretionary and the industry is Restaurants. The liquidity-beta signal implies that BTBD's price may be sensitive to changes in net liquidity conditions, which is a 2nd-order macro channel rather than a supply-chain one. Investors should watch whether the liquidity tailwind persists relative to the company's weak cash generation, since macro support cannot by itself fix negative ROIC.

• What are the company's cash and cash-equivalent balances in each reported period, given that the cash field is N/A throughout the financials?
• What is the EPS (TTM) and forward earnings outlook, given that P/E, forward P/E, and EV/EBITDA are all unavailable?
• What drives the restaurant revenue decline from $14.8M to $13.5M, and is it tied to location count, same-store sales, or pricing?
• Who are the institutional holders and insiders, given that the holders section is empty?
• What is the composition of the FY 2023 debt figure, which is listed as N/A, and how does debt trend across the reported periods?