NATH on Nasdaq

Nathan's Famous

Logo: Nathan's Famous, Public domain, via Wikimedia Commons4

Fast food restaurant chain

Nathan's Famous, Inc., is an American company that operates a chain of fast-food restaurants specializing in hot dogs. The original Nathan's restaurant stands at the corner of Surf and Stillwell Avenues in the Coney Island neighborhood of Brooklyn, New York City.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

$162.1MRevenue, fiscal 20265
$20.0MNet income, fiscal 20265
1916Founded1

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  • TickerNATH on Nasdaq1
  • Industryfast food1
  • HeadquartersJericho1
  • Websitewww.nathansfamous.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business addressOne Jericho Plaza, Jericho, Ny 117536
  • Filer categoryAccelerated filer6
Nathan's Famous (Coney Island) AB
Photo: Chepry πŸ’¬ ( Andrzej Barabasz ) πŸ“· πŸ‡΅πŸ‡±, CC BY-SA 4.0, via Wikimedia Commons8

Nathan's Famous, Inc., is an American company that operates a chain of fast-food restaurants specializing in hot dogs. The original Nathan's restaurant stands at the corner of Surf and Stillwell Avenues in the Coney Island neighborhood of Brooklyn, New York City. Its restaurants are primarily in the Northeastern United States. The company's headquarters are at One Jericho Plaza in Jericho, part of Oyster Bay, New York.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

34.3%Gross margin5
18.6%Operating margin5
12.4%Net margin5
9.4%Revenue growth, 20265
$17.9MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Branded Products brought in 65% of the revenue Nathan's Famous broke down this way in fiscal 2026.

  1. Branded Products$105.8M565%up 15% from 2025
  2. License$37.4M523%down 0% from 2025
  3. Company-operated Restaurants$12.5M58%down 2% from 2025
  4. Franchise Royalties$3.9M52%up 3% from 2025
  5. Advertising Fund Revenue$2.1M51%down 1% from 2025
  6. Franchise$420.0K50%up 10% from 2025
Products and services by year
Products and services20252026
Branded Products$91.8M$105.8M
License$37.4M$37.4M
Company-operated Restaurants$12.7M$12.5M
Franchise Royalties$3.8M$3.9M
Advertising Fund Revenue$2.1M$2.1M
Franchise$381.0K$420.0K

Business segments

Branded Product Program brought in 66% of the revenue Nathan's Famous broke down this way in fiscal 2026.

  1. Branded Product Program$105.8M566%up 15% from 2025
  2. Product Licensing$37.4M523%down 0% from 2025
  3. Restaurant Operations$16.8M511%down 0% from 2025
Business segments by year
Business segments20252026
Branded Product Program$91.8M$105.8M
Product Licensing$37.4M$37.4M
Restaurant Operations$16.9M$16.8M

Regions

United States brought in 98% of the revenue Nathan's Famous broke down this way in fiscal 2026.

  1. United States$158.6M598%up 10% from 2025
  2. Outside the United States$3.4M52%down 11% from 2025
Regions by year
Regions20252026
United States$144.3M$158.6M
Outside the United States$3.9M$3.4M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue66Β’$106.5M
  • Other costs17Β’$27.4M
  • Income tax5Β’$8.2M
  • Profit12Β’$20.0M

Out of $162.1M in revenue.5

Where each dollar of operating cash went, fiscal 2026

  • Capital spending2Β’$370.0K
  • Kept or used elsewhere98Β’$17.9M

Out of $18.2M of cash from operations.5

Financial statements

Revenue910111213145$162.1M in 2026+59% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $101.8M$101.8M20192020: $103.3M$103.3M2020+1%2021: $75.8M$75.8M2021βˆ’27%2022: $114.9M$114.9M2022+51%2023: $130.8M$130.8M2023+14%2024: $138.6M$138.6M2024+6%2025: $148.2M$148.2M2025+7%2026: $162.1M$162.1M2026+9%
Gross profit145$55.5M in 2026+0% since 2024
0$20.0M$40.0M$60.0M2024: $55.4M$55.4M20242025: $58.5M$58.5M2025+5%2026: $55.5M$55.5M2026βˆ’5%
Operating income910111213145$30.1M in 2026+8% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $28.0M$28.0M20192020: $27.2M$27.2M2020βˆ’3%2021: $25.5M$25.5M2021βˆ’6%2022: $29.9M$29.9M2022+17%2023: $34.4M$34.4M2023+15%2024: $32.5M$32.5M2024βˆ’6%2025: $36.5M$36.5M2025+12%2026: $30.1M$30.1M2026βˆ’18%
Net income910111213145$20.0M in 2026βˆ’7% since 2019
0$10.0M$20.0M$30.0M2019: $21.5M$21.5M20192020: $13.4M$13.4M2020βˆ’37%2021: $11.1M$11.1M2021βˆ’18%2022: $13.6M$13.6M2022+23%2023: $19.6M$19.6M2023+44%2024: $19.6M$19.6M2024βˆ’0%2025: $24.0M$24.0M2025+22%2026: $20.0M$20.0M2026βˆ’17%

Every line of the income statement in the latest annual report, as filed.5

Period ending2026-03-312025-03-31
Revenues$162.1M$148.2M
Cost of sales$106.5M$89.7M
Restaurant operating expenses$4.4M$4.4M
Depreciation and amortization$925.0K$957.0K
General and administrative expenses$17.9M$14.5M
Advertising fund expense$2.2M$2.1M
Total costs and expenses$132.0M$111.7M
Income from operations$30.1M$36.5M
Interest expense-$2.9M-$4.1M
Loss on debt extinguishment (NOTE J)$0-$389.0K
Interest and dividend income$780.0K$672.0K
Other income, net$165.0K$87.0K
Income before provision for income taxes$28.2M$32.8M
Provision for income taxes$8.2M$8.7M
Net income$20.0M$24.0M
Basic (in shares)4.1M shares4.1M shares
Diluted (in shares)4.1M shares4.1M shares
Basic (in dollars per share)$4.89$5.88
Diluted (in dollars per share)$4.85$5.87

Compare Nathan's Famous with another company

The story

Founded by Nathan Handwerker in 1916.1

Nathan Handwerker (1892–1974) was a Jewish-Polish immigrant who arrived in New York City in 1912 and soon found work at the Coney Island, Brooklyn, restaurant Feltman's German Gardens. By one account, he was encouraged by singing waiters Eddie Cantor and Jimmy Durante to go into business in competition with Feltman's; as United Press International noted in 1974, "There are many stories about Nathan and how the business began, but this is the way he told it..." The company's official history does not mention the future stars' encouragement. Nathan and his wife, Ida Handwerker, nΓ©e Greenwald, spent their life savings of $300 (equivalent to about $8,876 today) to begin the business together.

Nathan's began as a nickel hot dog stand in Coney Island in 1916. Ida created the hot dog recipe they used, and Ida's grandmother created the secret spice recipe. Because Nathan's Famous all-beef hot dogs lacked rabbinic supervision and the meat wasn't kosher, Handwerker coined the term "kosher style" because the hot dogs were not made from pork or horse meat.

Handwerker undercut Feltman's by charging five cents for a hot dog when his former employer was charging 10 cents. At a time when food regulation was in its infancy and the pedigree of the hot dog particularly suspect, Handwerker ensured that men wearing surgeon's smocks were seen eating at his stand to reassure potential customers. The business proved immensely popular.

The expansion of the chain was overseen by Nathan Handwerker's son, Murray Handwerker. A second branch on Long Beach Road in Oceanside, New York, opened in 1959, and another debuted in Yonkers, New York, in 1965. Murray Handwerker was named the president of Nathan's Famous in 1968, the year the company went public.

All locations were sold by the Handwerker family to a group of private investors in 1987, at which point Nathan's was franchised and a great number of establishments were opened around New York City and beyond. In the 1990s, the company acquired Kenny Rogers Roasters and Miami Subs Grill, both of which were later divested.

In 2002, Home Depot and Nathan's terminated a co-locating partnership which offered Nathan's space within certain Home Depot stores in New York.

International master franchise agreements were signed (c. 2006) with Egypt and Israel. The company also owns the exclusive co-branding rights to the Arthur Treacher's Fish and Chips chain.

On March 28, 2017, Major League Baseball announced that it had reached a sponsorship deal with Nathan's Famous, allowing the company to market itself as the official hot dog brand of the league. While Nathan's was already the official hot dog brand of the New York Mets, New York Yankees, Miami Marlins, and St. Louis Cardinals (the sponsorship does not restrict teams from making similar deals with competitors), the deal marked the first time that Major League Baseball had named an official hot dog sponsor.

Read the full text

Nathan's hot dogs are primarily manufactured by Smithfield Foods, a subsidiary of China's WH Group. Nathan's Hot Dogs can also be found in stores for retail sale, usually in the lunch meat aisle.

On January 21, 2026, Nathan's Famous announced that it had been sold to Smithfield Foods for $450 million. Smithfield will acquire all outstanding shares of the company, effectively taking it private. The acquisition is expected to be completed in the first half of 2026.

Original location

As of 2025, the original Nathan's hot dog stand still exists at its original 1916 site. Having been open for business every day, 365 days a year, the stand was forced to close on October 29, 2012, due to Hurricane Sandy. The shop re-opened six months later, on May 21, 2013, despite a small fire on May 4. Service is provided year-round inside, and during the summer additional walk-up windows are opened to serve the larger seasonal crowds. The original location still features fried frog legs, which have been a Nathan's menu item since the 1950s. The item is not offered at any other Nathan's location.

Hot dog eating contest

The Nathan's Hot Dog Eating Contest has been held annually at the original location on Coney Island since the early 1970s on the 4th of July. Contestants try to consume as many hot dogs as possible in 10 minutes. Winners include Takeru Kobayashi (2001–2006), Joey Chestnut (2007–2014, 2016–2023, 2025) and Miki Sudo (women's 2014–2020, 2022–2025). In 2008, Chestnut tied Kobayashi after eating 59 hot dogs and buns in 10 minutes. The tie resulted in a five-hot-dog eat-off, which Chestnut won by consuming all five before Kobayashi. In 2018, Chestnut consumed 74 hot dogs and buns for a new world record.

From Wikipedia’s article on Nathan's Famous, shared under CC BY-SA 4.0.7

Leadership

Who has led Nathan's Famous, and when. Pick a name to see everywhere that person has worked.

Former names

  • NATHANS FAMOUS INCNov 8, 1996 to Aug 7, 20206

Timeline

  1. 1916Founded Founded1

Recent filings

  1. Oct 14, 20268-K
  2. Sep 24, 2026DEFM14A
  3. Aug 31, 2026SCHEDULE 13D/A
  4. Aug 7, 20268-K
  5. Aug 7, 202610-Q
  6. Jul 24, 202610-K/A
  7. Jun 12, 20264 OWNERSHIP DOCUMENT
  8. Jun 9, 20268-K
  9. Jun 9, 202610-K
  10. Apr 23, 2026SCHEDULE 13D/A
  11. Mar 6, 2026PREM14A
  12. Feb 5, 20268-K
  13. Feb 5, 202610-Q
  14. Jan 21, 20268-K
  15. Jan 21, 2026DEFA14A

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2