RAVE Restaurant Group (RAVE)
Franchisor of Pizza Inn buffets and Pie Five made-to-order pizza.
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Franchises Pizza Inn buffet, dine-in and limited-service formats and Pie Five's customized fast-casual pizza restaurants. Runs an asset-light system with no company-operated restaurants in its year-end count, earning mainly royalties and distributor incentives tied to franchisee sales, restaurant count and product volumes.
Manages Pizza Inn, a family-oriented pizza buffet and dine-in franchise founded in 1958, alongside Pie Five, a made-to-order fast-casual pizza concept. Pizza Inn also reaches non-traditional venues through Pizza Inn Express kiosks, while both brands can use ghost kitchens for third-party delivery. The domestic footprint is concentrated in the southern United States, with Pizza Inn also present in Honduras, New Zealand and the Middle East.
Operates an asset-light franchise and licensing system rather than company-run restaurants. Revenue comes chiefly from royalties linked to franchisee retail sales and incentives tied to products distributed through third parties. The business depends on franchisee execution, restaurant count and sales, distributor relationships, and Pizza Inn, which supplies most franchising revenue. Buffet locations remain the core Pizza Inn format.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 29, 2026Cash & short-term investments $12.0M · Total debt $299.0K · Total assets $18.6M · Shareholders' equity $16.4M
- Revenue
- $3.2M
- Operating income
- $965.0K
- Net income
- $800.0K
No dividends on record.
| Institutions | 15.97% | 2.27M shares | |
|---|---|---|---|
| 39 holders · as of Jun 30, 2026 | |||
| Insiders | 46.87% | 6.66M shares | |
| 4 holders · as of Sep 15, 2025 | |||
| Other | 37.16% | 5.28M shares | |
| remainder | |||
14.21M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Mark E. Schwarz1,2Insiderdirector, 10 percent owner, officer: Chairman | 27.61% | 3.63M | filed Jun 9, 2022 |
Brian Timothy BaresInsiderdirector | 9.77% | 1.39M | filed Sep 15, 2025 |
Noam NakashInsider | 5.30% | 753,278 | filed Oct 30, 2023 |
Saber Capital Managment, LLCInstitution | 4.94% | 701,483 | as of Jun 30, 2026 |
Brandon SolanoInsiderofficer: CHIEF EXECUTIVE OFFICER | 4.19% | 595,151 | filed Oct 17, 2024 |
- Mark E. Schwarz's transaction reports restate only vehicles that traded; the 2017 ownership statement (3.63M) plus the 292.7K net shares acquired since is used instead.
- Mark E. Schwarz reports a block also reported by another filer; it is counted once, under that filer.
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| RAVE Restaurant Group | $2.79 | −1.06% | $40.1M | 13.7 | — | 3.2 | +8.7% |
| Domino's Pizza | $292.33 | −1.61% | $9.83B | 16.9 | 14.4 | 2.0 | +4.3% |
| Yum! Brands | $140.12 | +0.29% | $38.51B | 17.6 | 20.9 | 4.4 | +12.2% |
| Papa Johns | $20.04 | −1.76% | $671.2M | 25.8 | 17.9 | 0.3 | −8.8% |
| Median | 17.6 | 17.9 | 2.0 | +4.3% |