Flanigan's Enterprises, Inc.

AI-generated fair value estimate for this company.

Method: 10-year owner-earnings DCF: $6.0M normalized FCF (adjusted above the reported $3.71M TTM FCF to reflect growth capex for new/renovated locations rather than pure maintenance capex); 6% annual growth years 1-5, 4% years 6-10; 9% discount rate; 2.5% terminal growth; -$28.89M net debt; 1.86M shares outstanding.

Reasoning: Flanigan's owns much of its real estate and funds unit growth through capex that depresses reported FCF, so normalizing for growth capex better reflects underlying cash-generating power. Growth assumptions reflect steady restaurant/package-store unit additions concentrated in Florida; the discount rate reflects small-cap, single-region concentration risk.