BJs Restaurants Inc

BJ's Restaurants runs a national chain of full-service restaurants, where guests sit down and are served at the table. As of February 27, 2026, it owned and operated 219 restaurants in 31 states. It started in 1978 as a small deep-dish pizzeria in Orange County, California. In 1996 it added its own craft beer and a larger brewhouse-style restaurant. The menu has about 90 items, including deep-dish pizza, wings, slow-roasted prime rib and the Pizookie dessert, plus a full bar.

BJ's makes money by selling food and drinks in its dining rooms and through off-premise orders, meaning take-out, delivery through third-party partners and catering. Entrées generally cost $8.99 to $35.99, not counting promotions. Take-out family meals for 4 to 6 people start at $50.00. The company says its craft beer sets it apart from many other restaurant chains. The beer is made at four in-house brewing facilities and two standalone brewpubs, and outside brewers also make it using BJ's recipes.

Revenue was about $1.40 billion in the fiscal year ended December 30, 2025. On that date the company employed about 22,000 team members at its restaurants. The annual report does not give a clean revenue split by product, segment or region. The company says a significant number of its restaurants are in California, Texas and Florida. That makes the business particularly sensitive to economic, regulatory and weather conditions in those three states.

• In Q2 FY2026 (ended Jun 30, 2026), revenue was $388.9M, up 6.4% from a year earlier, and net income was $18.8M (-15.4%).
• For fiscal 2025, revenue was $1.40B (+3.1% year over year; +12.4% a year from FY2020 to FY2025) with a 3.5% net margin.

• Over FY2021–FY2025: $106.3M in buybacks and $263K in dividends.
• The company pays no regular dividend.
• Regular dividends per share grew -48.5% a year over 4 years (FY2020–FY2024).
• Dividends took 0% of earnings and 0% of free cash flow in the latest fiscal year.
• Shares outstanding changed -8.7% from Jul 30, 2021 to Jul 28, 2026.

Rank among 1514 US companies

Market value at each year end

BJs Restaurants’s market value went from $914.0M at the end of 2016 to $1.29B on Oct 28, 2026, up 41%; since the end of 2025 it is up 55%.

Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 3 open-market purchases ($108K) and 11 sales ($6.9M).

Large shareholders (13G filings)

ETFs with the most weight in BJRI

1. Heavy reliance on California, Texas and Florida. Its head office is in California, and a significant number of its restaurants are in California, Texas and Florida. Economic slowdowns, new rules or severe weather in those states could hit it harder.
2. Rising costs may outrun menu price increases. BJ's raises menu prices to offset higher food, brewing and other costs, including tariffs. If guests balk or prices lag, profit suffers. It kept 3.3 cents of operating profit per sales dollar in fiscal 2025.
3. Wage pressure and staff turnover. BJ's employed about 22,000 restaurant team members as of December 30, 2025. Wage pressure, turnover and new labor rules could raise costs, and staffing shortages could slow service and new openings.
4. Alcohol rules matter to a brewhouse. Its own craft beer and full bar are central to the brand. Federal, state and local beer and liquor rules, or any violations of them, could limit sales and hurt revenue.
5. Food safety scares can hit every location. A foodborne illness outbreak or bad publicity could drive guests away from all its restaurants, even if the reports prove inaccurate. The trouble could start at BJ's, at another restaurant or elsewhere in the food supply chain.
6. Diners can cut back or go elsewhere. Eating out is easy to trim when budgets tighten. BJ's competes with national chains, local restaurants, fast-casual spots and supermarket ready meals. Many rivals have far more money for marketing and discounts.

• Sep 9, 2026 Executive or board change; Bylaws or fiscal year changed; Other company announcement
• Jul 30, 2026 Quarterly results released
• Jun 23, 2026 Executive or board change
• Jun 15, 2026 Shareholder vote results
• May 5, 2026 Quarterly results released
• Apr 10, 2026 Executive or board change
• Feb 25, 2026 Quarterly results released
• Jan 23, 2026 Executive or board change
• Nov 17, 2025 Major agreement signed
• Nov 5, 2025 Executive or board change; Investor presentation or announcement

BJ's does not pay a dividend. Its small dividend payments shrank each year, from $150,000 in fiscal 2020 to zero in fiscal 2025, and the yield was 0% as of October 28, 2026. Instead, the company returns cash through buybacks, which means repurchasing its own stock. It spent $106.3 million on buybacks from fiscal 2021 to 2025. That included $67.8 million in fiscal 2025, more than that year's $40.9 million of free cash flow (cash left after running and investing in the business). Shares outstanding fell 8.7% between July 2021 and July 2026. For an income investor, returns depend entirely on the share price, so drawing income means cashing in shares.

The stock has fallen hard in downturns. It dropped 66.9% in the 2008 financial crisis, 85% in the 2020 COVID crash and 43.3% in the 2022 bear market. Each time, it took roughly 10 to 14 months from the low to regain its prior peak. Single stocks carry more risk than diversified funds.