Rare to find micro-cap who is also a major industry player in a large growth market. Brazil Fast Food is the #2 hamburger chain in Brazil (behind McDonald's). Buffalo Wild Wings, an American chain of similar size and growth rates, sports a market cap of 10x that of BOBS. Fast food is considered a nascent market in Brazil by some, as the middle class begins to expand on the back of economic growth.
BOBS is cheap by most measures, trading at a P/S of 0.4 and a P/E of 6.5. The P/B is 3 but shrinking rapidly as newfound cash generation is tearing into debt obligations and growing book value extremely fast (it is up 60% through three quarters of 2007).