Intrinsic value of Rave Restaurant Group - RAVE

Previous Close

$1.61

  Intrinsic Value

$0.22

stock screener

  Rating & Target

str. sell

-86%

  Value-price divergence*

-4%

Previous close

$1.61

 
Intrinsic value

$0.22

 
Up/down potential

-86%

 
Rating

str. sell

 
Value-price divergence*

-4%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of RAVE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  27.08
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  61
  62
  64
  65
  67
  69
  71
  74
  76
  79
  82
  86
  89
  93
  97
  101
  105
  110
  115
  120
  126
  131
  138
  144
  151
  158
  166
  174
  182
  191
  200
Variable operating expenses, $m
 
  66
  68
  70
  72
  74
  76
  79
  82
  85
  88
  91
  95
  99
  103
  108
  112
  117
  122
  128
  134
  140
  147
  154
  161
  169
  177
  185
  194
  203
  213
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  67
  66
  68
  70
  72
  74
  76
  79
  82
  85
  88
  91
  95
  99
  103
  108
  112
  117
  122
  128
  134
  140
  147
  154
  161
  169
  177
  185
  194
  203
  213
Operating income, $m
  -6
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -13
  -13
EBITDA, $m
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
Interest expense (income), $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
Earnings before tax, $m
  -6
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
Tax expense, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -9
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  19
  18
  19
  19
  20
  20
  21
  22
  23
  23
  24
  25
  26
  27
  29
  30
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
  49
  51
  54
  56
  59
Adjusted assets (=assets-cash), $m
  18
  18
  19
  19
  20
  20
  21
  22
  23
  23
  24
  25
  26
  27
  29
  30
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
  49
  51
  54
  56
  59
Revenue / Adjusted assets
  3.389
  3.444
  3.368
  3.421
  3.350
  3.450
  3.381
  3.364
  3.304
  3.435
  3.417
  3.440
  3.423
  3.444
  3.345
  3.367
  3.387
  3.438
  3.382
  3.429
  3.405
  3.359
  3.366
  3.349
  3.356
  3.362
  3.388
  3.412
  3.370
  3.411
  3.390
Average production assets, $m
  5
  5
  5
  5
  6
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  16
Working capital, $m
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
Total debt, $m
  0
  0
  0
  1
  1
  1
  2
  2
  3
  3
  4
  4
  5
  5
  6
  7
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  20
  21
  23
Total liabilities, $m
  9
  10
  10
  11
  11
  11
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  33
Total equity, $m
  9
  8
  8
  9
  9
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
Total liabilities and equity, $m
  18
  18
  18
  20
  20
  20
  21
  22
  23
  23
  25
  25
  27
  27
  29
  30
  31
  32
  34
  36
  37
  39
  41
  43
  45
  47
  49
  51
  54
  56
  59
Debt-to-equity ratio
  0.000
  0.030
  0.050
  0.080
  0.120
  0.150
  0.180
  0.220
  0.250
  0.290
  0.330
  0.360
  0.400
  0.430
  0.460
  0.500
  0.530
  0.560
  0.590
  0.620
  0.640
  0.670
  0.700
  0.720
  0.750
  0.770
  0.790
  0.810
  0.830
  0.850
  0.870
Adjusted equity ratio
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444
  0.444

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -9
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
Depreciation, amort., depletion, $m
  3
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
Funds from operations, $m
  5
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
Change in working capital, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from operations, $m
  2
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
Maintenance CAPEX, $m
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
New CAPEX, $m
  -8
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from investing activities, $m
  -8
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
Free cash flow, $m
  -6
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
Issuance/(repayment) of debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
Issuance/(repurchase) of shares, $m
  1
  4
  4
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
Cash from financing (excl. dividends), $m  
  1
  4
  4
  5
  5
  5
  5
  5
  5
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  17
Total cash flow (excl. dividends), $m
  -5
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
Retained Cash Flow (-), $m
  8
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
Prev. year cash balance distribution, $m
 
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -3
  -4
  -4
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -2
  -2
  -2
  -2
  -2
  -2
  -1
  -1
  -1
  -1
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  77.6
  60.1
  46.4
  35.8
  27.6
  21.2
  16.2
  12.4
  9.5
  7.3
  5.5
  4.2
  3.2
  2.4
  1.9
  1.4
  1.1
  0.8
  0.6
  0.5
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0

Rave Restaurant Group, Inc., together with its subsidiaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark in the United States and internationally. It operates in two segments, Franchising and Food and Supply Distribution, and Company-Owned Restaurants. The company’s buffet restaurants, which are located in free standing buildings or strip centers in retail developments that offer dine-in, carryout, and catering services, as well as delivery services. Its delco restaurants provide delivery and carryout services and are located in shopping centers or other in-line retail developments. The company’s Express restaurants serve customers through various non-traditional points of sale that are located in convenience stores, food courts, college campuses, airport terminals, travel plazas, athletic facilities, or other commercial facilities. Rave Restaurant Group, Inc. also operates and franchises fast casual restaurants under the Pie Five Pizza Company or Pie Five trademark. As of June 26, 2016, it owned and operated 32 restaurants, which include 31 Pie Five restaurants and a Pizza Inn buffet restaurant; and had 57 franchised Pie Five units and 221 franchised Pizza Inn restaurants. The company was formerly known as Pizza Inn Holdings, Inc. and changed its name to Rave Restaurant Group, Inc. in January 2015. Rave Restaurant Group, Inc. was founded in 1958 and is based in The Colony, Texas.

FINANCIAL RATIOS  of  Rave Restaurant Group (RAVE)

Valuation Ratios
P/E Ratio -1.8
Price to Sales 0.3
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 8.3
Price to Free Cash Flow -2.8
Growth Rates
Sales Growth Rate 27.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 14.3%
Cap. Spend. - 3 Yr. Gr. Rate 32%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -41.9%
Ret/ On Assets - 3 Yr. Avg. -21.9%
Return On Total Capital -69.2%
Ret/ On T. Cap. - 3 Yr. Avg. -34.5%
Return On Equity -69.2%
Return On Equity - 3 Yr. Avg. -36.3%
Asset Turnover 2.8
Profitability Ratios
Gross Margin 13.1%
Gross Margin - 3 Yr. Avg. 14%
EBITDA Margin -4.9%
EBITDA Margin - 3 Yr. Avg. -2.4%
Operating Margin -9.8%
Oper. Margin - 3 Yr. Avg. -6.9%
Pre-Tax Margin -9.8%
Pre-Tax Margin - 3 Yr. Avg. -6.3%
Net Profit Margin -14.8%
Net Profit Margin - 3 Yr. Avg. -7.9%
Effective Tax Rate -50%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

RAVE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RAVE stock intrinsic value calculation we used $61 million for the last fiscal year's total revenue generated by Rave Restaurant Group. The default revenue input number comes from 2016 income statement of Rave Restaurant Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RAVE stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for RAVE is calculated based on our internal credit rating of Rave Restaurant Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Rave Restaurant Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RAVE stock the variable cost ratio is equal to 106.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for RAVE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Rave Restaurant Group.

Corporate tax rate of 27% is the nominal tax rate for Rave Restaurant Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RAVE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RAVE are equal to 8.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Rave Restaurant Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RAVE is equal to -3.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $9 million for Rave Restaurant Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 10.336 million for Rave Restaurant Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Rave Restaurant Group at the current share price and the inputted number of shares is $0.0 billion.

RELATED COMPANIES Price Int.Val. Rating
PZZA Papa John' 78.62 45.66  sell
FRSH Papa Murphy 4.56 7.15  str.buy
LOCO El Pollo Loco 11.45 20.26  buy
TACO Del Taco Resta 12.73 13.85  hold
PBPB Potbelly 11.30 5.36  str.sell

COMPANY NEWS

▶ Pie Five Tests Revolutionary Prototype Design   [Aug-01-17 05:22PM  PR Newswire]
▶ Pie Five Debuts Customized Mobile App   [09:32AM  PR Newswire]
▶ Domino's Success Shows That Convenience Really Matters   [Jul-31-17 09:20AM  Motley Fool]
▶ Pie Five Introduces Personalized Pizza To Clearwater   [Jul-28-17 08:30AM  PR Newswire]
▶ Pie Five Brings Personalized Pizza To Edmond   [Jul-19-17 09:00AM  PR Newswire]
▶ Pie Five Goes 'Pro-Ranch' With New Limited-Time Pizza   [May-22-17 08:00AM  PR Newswire]
▶ Pie Five Brings Personalized Pizza To Springfield   [May-18-17 03:31PM  PR Newswire]
▶ Rave Restaurant Group reports 3Q loss   [May-10-17 08:10AM  Associated Press]
▶ Pie Five Pizza Takes Flight At Second BWI Location   [May-04-17 01:34PM  PR Newswire]
▶ Pie Five Brings Personalized Pizza To York   [Apr-10-17 01:34PM  PR Newswire]
▶ Pie Five Brings Personalized Pizza To Waco   [Apr-03-17 01:14PM  PR Newswire]
▶ Franchisee suing Pie Five for claiming it had a bigger slice of sales   [12:50PM  American City Business Journals]
▶ Pie Five Pizza Brings the Heat With Pie-Ferno Pizza   [Mar-23-17 01:53PM  PR Newswire]
▶ Pie Five Pizza abruptly closes its Minnesota restaurants   [Mar-22-17 06:10PM  at bizjournals.com]
▶ Pie Five Pizza abruptly closes its Minnesota restaurants   [06:10PM  American City Business Journals]
▶ KC native talks plans for Pie Five, Pizza Inn parent company   [Mar-21-17 03:50PM  at bizjournals.com]
▶ KC native talks plans for Pie Five, Pizza Inn parent company   [03:50PM  American City Business Journals]
▶ Pie Five Pizza Brings Five-Minute Pizza To Tulsa, OK   [Mar-09-17 01:53PM  PR Newswire]
▶ Is Fast-Casual Pizza Dead?   [Feb-22-17 01:21PM  at Motley Fool]
▶ Pizza Inn Launches Tasty Loyalty Program   [Feb-03-17 12:12PM  PR Newswire]
▶ Get Ready Pizza Inn Fans, There's a New JoJo in Town   [Jan-18-17 07:30AM  PR Newswire]
▶ Exclusive: Rave Restaurant Group's new CEO dishes on his role   [Jan-09-17 07:15PM  at bizjournals.com]
▶ Ex-Smashburger CEO lands at pizza-chain company   [03:10PM  at bizjournals.com]
▶ Pie Five Pizza Co. Bringing the Pizza Party to Mishawaka   [Dec-06-16 09:00AM  PR Newswire]
▶ /C O R R E C T I O N -- RAVE Restaurant Group, Inc./   [Nov-09-16 06:56PM  PR Newswire]
▶ Pizza Inn Names Top Franchisees at Brand Convention   [Oct-25-16 01:33PM  PR Newswire]
▶ Pie Five Pizza Co. Shakes Things Up in Chi-Town   [Sep-26-16 08:05AM  PR Newswire]
▶ Pie Five Pizza Co. Brings Big Flavor to Little Rock   [Sep-22-16 08:00AM  PR Newswire]
▶ Pie Five Pizza Co. Brings the Pizza Party to White Marsh   [Sep-06-16 09:00AM  PR Newswire]
▶ RAVE Restaurant Group, Inc. Announces CEO Transition   [Jul-21-16 10:56AM  PR Newswire]
Stock chart of RAVE Financial statements of RAVE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.