Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Noble Roman's, Inc. is a U.S.-based pizza franchising company operating primarily within the restaurant franchising and foodservice licensing industries. The company focuses on developing and licensing pizza concepts for both traditional restaurants and non-traditional foodservice venues. Its revenue is primarily generated through franchise fees, royalties, and the operation of a limited number of company-owned restaurants.
The company’s core business lines include Noble Roman’s Craft Pizza & Pub full-service restaurants and Noble Roman’s Take-N-Bake pizza franchises, as well as licensed operations in convenience stores, colleges, military bases, and other institutional settings. Noble Roman’s positions itself as a value-oriented pizza brand with flexible formats that allow operators to integrate its offerings into existing foodservice environments. The company was founded in 1972 and has evolved from operating company-owned restaurants to a predominantly franchised and licensed business model; specific details regarding the original founder are inconsistent across public sources, and data is inconclusive based on available public sources.
Business Operations
Noble Roman’s operates through two primary business segments: Franchising and Company-Owned Restaurants. The franchising segment licenses the Noble Roman’s brand, recipes, and operating systems to third-party operators, generating ongoing royalty income. These franchised locations are primarily non-traditional venues such as convenience stores, travel centers, educational institutions, and military facilities, which require lower capital investment and offer scalable growth opportunities.
The company-owned restaurant segment consists mainly of Noble Roman’s Craft Pizza & Pub locations, which are operated directly by the company and generate revenue through food and beverage sales. Operations are almost entirely domestic, and the company does not report material international revenue. Noble Roman’s controls its proprietary recipes, branding, and operating systems, which are disclosed in its SEC Form 10-K filings. There is no publicly confirmed information regarding material joint ventures, and data on major partnerships beyond standard franchise agreements is inconclusive based on available public sources.
Strategic Position & Investments
Strategically, Noble Roman’s emphasizes capital-light growth through franchising and licensing rather than expanding company-owned locations. Growth initiatives have focused on increasing the number of non-traditional franchise units and selectively expanding the Noble Roman’s Craft Pizza & Pub concept where management believes brand presence can be strengthened. The company has consistently highlighted franchise system expansion and operational efficiency as key strategic priorities in its public filings.
Noble Roman’s has made targeted investments related to brand development and restaurant concept refinement rather than large-scale acquisitions. Public disclosures do not indicate any recent material acquisitions of other restaurant brands or unrelated businesses. The company’s strategic involvement in emerging technologies is limited, primarily consisting of point-of-sale systems, digital ordering integration, and operational support tools commonly used within the restaurant industry. Where specific investments or acquisitions are referenced inconsistently across sources, data is inconclusive based on available public sources.
Geographic Footprint
Noble Roman’s is headquartered in Indianapolis, Indiana, and its operations are concentrated in the United States. Franchise and licensed locations are distributed across multiple states, with a heavier presence in the Midwest and Southeastern United States, reflecting the company’s historical roots and franchise development focus.
The company does not report significant international operations or overseas subsidiaries in its most recent SEC filings. Its geographic strategy prioritizes domestic market penetration through non-traditional venues rather than international expansion, resulting in a broad but primarily U.S.-centric operational footprint.
Leadership & Governance
Noble Roman’s is led by an executive team with long tenure in the company, emphasizing operational discipline, conservative financial management, and franchise-focused growth. The leadership philosophy centers on sustainable expansion, brand consistency, and maintaining a strong balance sheet, as outlined in management commentary within public filings.
Key executives include:
- Scott C. Mobley – President and Chief Executive Officer
- Joseph J. E. Ross – Chief Financial Officer
- Chris Baggott – Director (noted for strategic and brand-related experience)
The board of directors provides governance oversight, with a focus on aligning franchisee success with shareholder interests. Detailed governance practices and executive responsibilities are disclosed in the company’s SEC Form 10-K and related proxy materials.