STKS ONE Group Hospitality, Inc.

Overview and Growth

In fiscal 2025, ONE Group Hospitality, Inc. recorded $805.72M of revenue, net loss of $92.24M, and an operating cash inflow of $30.31M. Revenue of $805.72M sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 19.7% from $673.34M in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were -$4.05, translating the period’s attributable earnings into the amount reported for each diluted share. Total assets stood at $884.20M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.91x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Operating income was $8.00M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 1.0%, showing the portion of revenue preserved after the full set of operating costs. After all below-operating-line items, the company recorded a net loss of $92.24M for the fiscal year. The net loss equaled 11.4% of revenue, showing the bottom-line deficit relative to the company’s sales base. Reported EBITDA totaled $51.19M, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. Before income taxes, the company recorded a loss of $32.90M, bridging the operating result to the final net loss. The pretax loss equaled 4.1% of revenue, measuring the pre-tax deficit against sales. Income tax expense totaled $60.68M, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-assets relationship was 10.4%, placing the bottom-line deficit against the company’s resource base. The net loss widened to $92.24M from $17.10M in fiscal 2024.

Liquidity and Capital Structure

With total equity at -$79.83M, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. Current assets were $56.90M against $133.22M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.43x of current liabilities, so current liabilities exceeded current assets at period end. Reported cash and equivalents were $4.17M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 3.1%, excluding receivables and other current assets. Borrowings totaled $343.31M, adding a fixed financing obligation alongside the company’s equity capital. Relative to total assets, debt measured 38.8%, showing how much of the asset base was matched by borrowing. The equity-to-assets relationship was -9.0%, placing book capital against the total resource base. The liabilities-to-assets relationship was 87.4%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 0.5% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $960.08M in fiscal 2024, the current asset base moved 7.9% and finished lower. Reported equity changed 284.6% from $43.25M in fiscal 2024, placing the current capital base lower year over year. Cash and equivalents were 84.9% lower than fiscal 2024 cash of $27.58M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported $30.31M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital spending was $57.59M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 190.0% of operating cash flow, quantifying the share of cash from operations directed to investment. Negative free cash flow was $27.28M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 3.4%. Relative to total assets, the post-investment cash deficit measured 3.1%.

Based on the annual report for the fiscal year ending Dec 28, 2025. Analysis generated Sep 24, 2026.