Bowlero Corp. Stock Research

Market Summary

USD15.94+0.14

Delayed

0.89%

BOWL Alerts

2 major insider sales recently.
Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)

BOWL Stock Price

BOWL RSI Chart

BOWL Valuation

Market Cap

2.6B

Price/Earnings (Trailing)

-60.03

Price/Sales (Trailing)

2.52

EV/EBITDA

20.06

Price/Free Cashflow

24.59

BOWL Price/Sales (Trailing)

BOWL Profitability

Operating Margin

33.28%

EBT Margin

-3.50%

Return on Equity

218.78%

Return on Assets

-2.22%

Free Cashflow Yield

4.07%

BOWL Fundamentals

BOWL Revenue

Revenue (TTM)

1.0B

Revenue Y/Y

33.24%

Revenue Q/Q

18.73%

BOWL Earnings

Earnings (TTM)

-43.1M

Earnings Y/Y

104.16%

Earnings Q/Q

104.28%

Price Action

52 Week Range

8.1917.45

(Low)(High)

Last 7 days

-7.7%

Last 30 days

12.7%

Last 90 days

29.6%

Trailing 12 Months

38.2%

BOWL Financial Health

Current Ratio

Debt/Equity

-63.23

Debt/Cashflow

0.27

BOWL Investor Care

Shares Dilution (1Y)

9.23%

Diluted EPS (TTM)

-0.33

Financials for Bowlero

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	7.1%	1,029,182,000	960,987,000	911,705,000	1,039,222,000	893,614,000
Gross Profit	9.6%	342,554,000	312,682,000	301,734,000	240,225,000	156,995,000
Operating Expenses	-32.1%	133,784,000	197,032,000	185,109,000	149,346,526	137,517,526
S&GA Expenses	-30.7%	132,950,000	191,781,000	180,702,000	174,131,000	161,511,000
EBITDA	28.4%	168,347,000	131,152,000	-18,127,000	-183,383,000	-195,183,000
EBITDA Margin	19.9%	0.16	0.14	-0.02	-0.18	-0.22
Earnings Before Taxes	50.7%	-35,998,000	-73,049,000	-30,624,000	-170,462,000	-175,256,000
EBT Margin	54.0%	-0.03	-0.08	-0.03	-0.16	-0.20
Interest Expenses	-3.7%	90,319,000	93,818,000	94,460,000	-157,958,000	-157,968,000
Net Income	45.4%	-43,143,000	-79,032,000	-29,934,000	-163,338,000	-168,442,000
Net Income Margin	49.0%	-0.04	-0.08	-0.03	-0.16	-0.16
Free Cahsflow	203.5%	105,305,000	34,696,000	15,299,000	-9,492,728	-77,154,197

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	3.3%	1,941	1,879	1,854	1,872	1,841
Current Assets	-9.3%	139	153	169	214	157
Cash Equivalents	-18.6%	90.00	110	132	173	116
Inventory	2.3%	11.00	11.00	10.00	10.00	10.00
Net PPE	13.1%	653	577	535	512	515
Goodwill	0.7%	749	744	743	739	739
Liabilities	3.7%	1,788	1,723	1,662	1,698	1,654
Current Liabilities	14.2%	139	122	119	121	121
Long Term Debt	-0.2%	877	878	865	868	870
LT Debt, Current	-0.2%	6.00	6.00	5.00	5.00	5.00
Retained Earnings	0.4%	-344	-346	-312	-319	-301
Additional Paid-In Capital	-0.6%	336	338	335	297	295
Accumulated Depreciation	5.7%	372	352	331	-	-
Shares Outstanding	-0.2%	162	163	163	149	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	28.9%	234	182	178	143	59.00
Share Based Compensation	-72.6%	15.00	53.00	50.00	47.00	45.00
Cashflow From Investing	-18.9%	-222	-187	-220	-178	-415
Cashflow From Financing	-514.1%	-37.22	-6.06	-12.14	22.00	287
Buy Backs	22.5%	48.00	39.00	31.00	1.00	0.00

Risks for BOWL

What is the probability of a big loss on BOWL?

60.6%

Probability that Bowlero stock will be more than 20% underwater in next one year

Probability that Bowlero stock will be more than 30% underwater in next one year.

Probability that Bowlero stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does BOWL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Bowlero was unfortunately bought at previous high price.

Drawdowns

Returns for BOWL

Cumulative Returns on BOWL

Which funds bought or sold BOWL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.05	12,983	147,983	-%
2023-02-28	Voya Investment Management LLC	reduced	-18.23	-20,340	174,660	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-15.62	-46,232	560,768	-%
2023-02-15	Metropolitan Life Insurance Co/NY	reduced	-24.42	-5,011	25,989	-%
2023-02-15	State of Wyoming	added	17.04	37,531	172,531	0.06%
2023-02-15	Point72 Middle East FZE	new	-	167,853	167,853	0.01%
2023-02-15	Cerity Partners LLC	new	-	384,193	384,193	-%
2023-02-15	MetLife Investment Management, LLC	reduced	-25.63	-50,615	220,385	-%
2023-02-15	JANE STREET GROUP, LLC	reduced	-3.12	29,846	523,846	-%
2023-02-15	LAZARD ASSET MANAGEMENT LLC	added	0.74	15,000	158,000	-%

Latest Funds Activity

Are funds buying BOWL calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own BOWL

No. of Funds

Bowlero News

Schedule 13G FIlings of Bowlero

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 14, 2023	shannon thomas f.	41.4%	77,555,373	SC 13D/A
Mar 09, 2023	a-b parent llc	65.0%	76,883,402	SC 13D/A
Feb 14, 2023	apollo management holdings gp, llc	0.5%	574,538	SC 13G/A
Feb 14, 2023	brigade capital management, lp	4.61%	4,671,155	SC 13G
Feb 13, 2023	soros fund management llc	7.42%	8,154,303	SC 13G/A
Jan 27, 2023	shannon thomas f.	40.4%	73,759,954	SC 13D/A
Jan 27, 2023	parker brett i.	5.7%	6,511,171	SC 13D/A
Mar 23, 2022	apollo management holdings gp, llc	0.9%	1,003,869	SC 13G
Feb 14, 2022	telemark asset management, llc	2.40%	6	SC 13G/A
Feb 14, 2022	citadel advisors llc	0.0%	6	SC 13G/A

BOWL Fair Value

Recent SEC filings of Bowlero

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	SC 13D/A	13D - Major Acquisition
Mar 10, 2023	4	Insider Trading
Mar 09, 2023	4	Insider Trading
Mar 09, 2023	SC 13D/A	13D - Major Acquisition
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading

Latest Insider Trading transactions for BOWL

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	Parker Brett I.	sold	-	-	-3.00	chief financial officer
2023-03-08	Parker Brett I.	sold	-680,000	17.00	-40,000	chief financial officer
2023-03-07	Parker Brett I.	sold	-540,012	16.5	-32,728	chief financial officer
2023-03-06	Shannon Thomas F.	sold	-3,307,910	16.1674	-204,604	chief executive officer
2023-03-03	Shannon Thomas F.	sold	-2,842,670	16.1375	-176,153	chief executive officer
2023-03-02	A-B Parent LLC	acquired	-	-	4,908,230	-
2023-03-02	KOSTELNI JEFFREY C	sold (taxes)	-7,139	15.9	-449	chief accounting officer
2023-03-02	Shannon Thomas F.	sold	-307,808	16.00	-19,238	chief executive officer
2023-03-02	Parker Brett I.	sold (taxes)	-3,435,070	15.9	-216,042	chief financial officer
2023-03-02	Parker Brett I.	sold	-37,488	16.5	-2,272	chief financial officer

About Bowlero

Thomas F. Shannon

www.bowlerocorp.com

Bowlero Corp. operates bowling entertainment centers. As of December 26, 2021, it operated approximately 317 centers in the United States, Mexico, and Canada. The company was founded in 1997 and is headquartered in Mechanicsville, Virginia.

BOWL Income Statement

2023-01-01

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 01, 2023	Dec. 26, 2021	Jan. 01, 2023	Dec. 26, 2021
Income Statement [Abstract]
Revenues	$ 273,385	$ 205,190	$ 503,645	$ 386,168
Costs of revenues	179,706	141,383	344,908	268,251
Gross profit	93,679	63,807	158,737	117,917
Operating (income) expenses:
Selling, general and administrative expenses	34,452	93,283	66,946	114,698
Asset impairment	0	0	84	0
Gain on sale of assets	(1,823)	(124)	(1,978)	(154)
Other operating expense	614	3,332	1,976	3,809
Total operating expense	33,243	96,491	67,028	118,353
Operating profit (loss)	60,436	(32,684)	91,709	(436)
Other expenses:
Interest expense, net	27,379	23,880	50,949	46,808
Change in fair value of earnout liability	30,776	(22,542)	71,536	(22,542)
Change in fair value of warrant liability	0	70	0	70
Other income	(678)	0	(630)	0
Total other expense	57,477	1,408	121,855	24,336
Income (loss) before income tax expense (benefit)	2,959	(34,092)	(30,146)	(24,772)
Income tax expense (benefit)	1,524	362	1,953	(5,882)
Net income (loss)	1,435	(34,454)	(32,099)	(18,890)
Series A preferred stock dividends	(2,802)	(2,221)	(5,603)	(4,472)
Net loss attributable to common stockholders, basic	(1,367)	(36,675)	(37,702)	(23,362)
Net loss attributable to common stockholders, diluted	$ (1,367)	$ (36,675)	$ (37,702)	$ (23,362)
Net loss per share attributable to Class A and B common stockholders
Basic (in dollars per share)	$ (0.01)	$ (0.25)	$ (0.23)	$ (0.16)
Diluted (in dollars per share)	$ (0.01)	$ (0.25)	$ (0.23)	$ (0.16)
Weighted-average shares used in computing net loss per share attributable to common stockholders
Basic (in shares)	162,478,147	148,754,908	162,665,041	147,801,618
Diluted (in shares)	162,478,147	148,754,908	162,665,041	147,801,618

BOWL Balance Sheet

2023-01-01

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 01, 2023	Jul. 03, 2022
Current assets:
Cash and cash equivalents	$ 79,446	$ 132,236
Restricted cash	10,363	0
Marketable securities	12,125	0
Accounts and notes receivable, net of allowance for doubtful accounts of $609 and $504, respectively	8,807	5,227
Inventories, net	11,407	10,310
Prepaid expenses and other current assets	14,206	12,732
Assets held-for-sale	2,552	8,789
Total current assets	138,906	169,294
Property and equipment, net	652,847	534,721
Internal use software, net	14,901	11,423
Property and equipment under capital leases, net	254,583	262,703
Intangible assets, net	92,795	92,593
Goodwill	748,594	742,669
Other assets	38,643	41,022
Total assets	1,941,269	1,854,425
Current liabilities:
Accounts payable	44,590	38,217
Accrued expenses	76,612	62,854
Current maturities of long-term debt	5,821	4,966
Other current liabilities	11,995	13,123
Total current liabilities	139,018	119,160
Long-term debt, net	876,856	865,090
Long-term obligations under capital leases	394,836	397,603
Earnout liability	282,557	210,952
Other long-term liabilities	79,354	54,418
Deferred income tax liabilities	15,213	14,882
Total liabilities	1,787,834	1,662,105
Commitments and Contingencies (Note 10)
Temporary Equity
Series A preferred stock	211,667	206,002
Stockholders’ Deficit
Additional paid-in capital	336,261	335,015
Treasury stock, at cost	(47,968)	(34,557)
Accumulated deficit	(344,950)	(312,851)
Accumulated other comprehensive loss	(1,592)	(1,306)
Total stockholders’ deficit	(58,232)	(13,682)
Total liabilities, temporary equity and stockholders’ deficit	1,941,269	1,854,425
Class A ordinary shares
Stockholders’ Deficit
Common stock	11	11
Class B ordinary shares
Stockholders’ Deficit
Common stock	$ 6	$ 6