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FAT logoFAT Brands Inc.(FAT)Earnings, Financials & Key Ratios

FAT•NASDAQ
$0.16
$3M mkt cap·Price updated May 6, 2026
SectorConsumer CyclicalIndustryRestaurantsSub-IndustryQuick-Service Restaurant Franchisors
AboutFAT Brands Inc., a multi-brand franchising company, acquires, develops, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. As of August 22, 2022, it owned seventeen restaurant brands, including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, and Ponderosa Steakhouse/Bonanza Steakhouse, as well as franchises and owns approximately 2,300 locations. The company was incorporated in 2017 and is headquartered in Beverly Hills, California. FAT Brands Inc. operates as a subsidiary of Fog Cutter Holdings, LLC.Show more
  • Revenue$593M+23.4%
  • EBITDA-$11M-120.0%
  • Net Income-$190M-110.7%
  • EPS (Diluted)-11.60-98.3%
  • Gross Margin25.38%-18.7%
  • EBITDA Margin-1.8%-116.2%
  • Operating Margin-8.81%-289.6%
  • Net Margin-32.03%-70.8%
  • ROIC-3.76%-326.6%
  • Interest Coverage-0.39-318.3%
Technical→

FAT Key Insights

FAT Brands Inc. (FAT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 92.4%

✗Weaknesses

  • ✗Profits declining 184.5% over 5 years
  • ✗Weak Piotroski F-Score: 2/9
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 4 (bottom 4%)
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FAT Price & Volume

FAT Brands Inc. (FAT) stock price & volume — 10-year historical chart

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FAT Growth Metrics

FAT Brands Inc. (FAT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years92.36%
3 Years70.83%
TTM-5.26%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-51.88%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-45.01%

Return on Capital

10 Years8.33%
5 Years-8.55%
3 Years-1.52%
Last Year-4.97%

FAT Peer Comparison

FAT Brands Inc. (FAT) competitors in Quick-Service Restaurant Franchisors — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
DENN logoDENNDenny's CorporationDirect Competitor321.87M6.2515.24-2.5%2.24%
RRGB logoRRGBRed Robin Gourmet Burgers, Inc.Direct Competitor81.36M3.69-2.82-3.07%-1.92%
ARKR logoARKRArk Restaurants Corp.Direct Competitor25.98M7.21-2.27-9.69%-8.5%-41.5%2.67
RAVE logoRAVERAVE Restaurant Group, Inc.Direct Competitor37.94M2.6714.05-0.91%23.04%19.7%0.04
FWRG logoFWRGFirst Watch Restaurant Group, Inc.Direct Competitor749.98M12.1739.2620.34%1.38%2.85%1.18
BJRI logoBJRIBJ's Restaurants, Inc.Direct Competitor841.83M40.0518.543.08%3.15%11.97%1.34
QSR logoQSRRestaurant Brands International Inc.Product Competitor26.74B77.1832.8412.23%9.96%18.45%3.41
WEN logoWENThe Wendy's CompanyProduct Competitor1.27B6.6572.98%8.43%170.42%15.78

Compare FAT vs Peers

FAT Brands Inc. (FAT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DENN

Most directly comparable listed peer for FAT.

Scale Benchmark

vs MCD

Larger-name benchmark to compare FAT against a more recognizable public peer.

Peer Set

Compare Top 5

vs DENN, RRGB, ARKR, RAVE

FAT Income Statement

FAT Brands Inc. (FAT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue8.46M2.17M17.83M22.5M18.12M118.88M407.22M480.46M592.65M574.14M
Revenue Growth %12.27%-74.31%720.71%26.19%-19.49%556.15%242.55%17.98%23.35%-5.26%
Cost of Goods Sold005.88M4.11M5.22M62.22M221.63M330.51M442.23M416.75M
COGS % of Revenue--32.99%18.27%28.8%52.33%54.42%68.79%74.62%-
Gross Profit
8.46M▲ 0%
2.17M▼ 74.3%
12.48M▲ 474.5%
18.39M▲ 47.4%
12.9M▼ 29.9%
56.67M▲ 339.3%
185.6M▲ 227.5%
149.95M▼ 19.2%
150.42M▲ 0.3%
157.4M▲ 0%
Gross Margin %100%100%70%81.73%71.2%47.67%45.58%31.21%25.38%27.41%
Gross Profit Growth %12.27%-74.31%474.46%47.35%-29.87%339.27%227.53%-19.21%0.31%-
Operating Expenses2.93M2.15M7.71M12.48M29.17M55.84M203.5M127.62M202.64M238.16M
OpEx % of Revenue34.67%98.8%43.25%55.44%160.98%46.97%49.97%26.56%34.19%-
Selling, General & Admin2.93M2.15M13.53M12.26M14.88M41.77M157.93M93.12M128.56M178.35M
SG&A % of Revenue34.67%98.8%75.87%54.46%82.11%35.14%38.78%19.38%21.69%-
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0-28K-5.82M219K14.29M14.07M45.58M34.5M74.08M3M
Operating Income
5.52M▲ 0%
26K▼ 99.5%
4.24M▲ 16192.3%
5.92M▲ 39.7%
-16.27M▼ 374.9%
824K▲ 105.1%
-17.9M▼ 2272.8%
22.33M▲ 224.7%
-52.22M▼ 333.9%
-80.76M▲ 0%
Operating Margin %65.33%1.2%23.75%26.3%-89.78%0.69%-4.4%4.65%-8.81%-14.07%
Operating Income Growth %11.77%-99.53%16192.31%39.71%-374.86%105.07%-2272.82%224.72%-333.86%-
EBITDA5.52M26K4.59M6.7M-15.09M9.3M9.11M53.46M-10.69M-43.73M
EBITDA Margin %65.33%1.2%25.76%29.78%-83.31%7.82%2.24%11.13%-1.8%-7.62%
EBITDA Growth %11.77%-99.53%17569.23%45.91%-325.18%161.6%-2.01%486.77%-120%-274.7%
D&A (Non-Cash Add-back)00358K785K1.17M8.47M27.02M31.13M41.53M37.03M
EBIT5.52M02.7M8.15M-10M-6.06M-12.53M21.17M-54.35M-82.12M
Net Interest Income00-4.77M-6.53M-4.92M-29.06M-94.85M-117.53M-138.25M-151.43M
Interest Income0-206K02.13M3.63M00000
Interest Expense004.77M8.66M8.55M29.06M94.85M117.53M138.25M151.43M
Other Income/Expense0-28K-6.31M-6.43M-2.28M-35.94M-89.47M-118.69M-140.38M-152.79M
Pretax Income
5.52M▲ 0%
-208K▼ 103.8%
-2.07M▼ 896.6%
-508K▲ 75.5%
-18.55M▼ 3551.4%
-35.12M▼ 89.3%
-107.38M▼ 205.7%
-96.36M▲ 10.3%
-192.6M▼ 99.9%
-233.55M▲ 0%
Pretax Margin %65.33%-9.57%-11.62%-2.26%-102.38%-29.54%-26.37%-20.06%-32.5%-40.68%
Income Tax1.98M406K-275K510K-3.69M-3.54M18.81M-6.25M-2.75M-5M
Effective Tax Rate %35.81%-195.19%13.27%-100.39%19.89%10.07%-17.52%6.49%1.43%2.14%
Net Income
3.55M▲ 0%
-614K▼ 117.3%
-1.8M▼ 192.8%
-1.02M▲ 43.4%
-14.86M▼ 1359.7%
-31.58M▼ 112.5%
-126.19M▼ 299.5%
-90.11M▲ 28.6%
-189.85M▼ 110.7%
-225.79M▲ 0%
Net Margin %41.93%-28.26%-10.08%-4.52%-82.02%-26.57%-30.99%-18.76%-32.03%-39.33%
Net Income Growth %33.3%-117.31%-192.83%43.38%-1359.73%-112.54%-299.54%28.59%-110.68%-51.88%
Net Income (Continuing)3.55M0-1.8M-1.02M-14.86M-31.58M-126.19M-90.11M-189.85M-228.55M
Discontinued Operations0000000000
Minority Interest000000000-7.98M
EPS (Diluted)
0.31▲ 0%
-0.06▼ 120.1%
-0.15▼ 140.8%
-0.09▲ 42.6%
-1.25▼ 1351.8%
-2.15▼ 72.0%
-7.66▼ 256.3%
-5.85▲ 23.6%
-11.60▼ 98.3%
-12.63▲ 0%
EPS Growth %29.17%-120.1%-140.77%42.6%-1351.8%-72%-256.28%23.63%-98.29%-45.01%
EPS (Basic)0.31-0.06-0.15-0.09-1.25-2.15-7.66-5.85-11.60-
Diluted Shares Outstanding11.23M9.85M12.07M11.82M11.9M14.66M16.48M16.6M17.04M17.87M
Basic Shares Outstanding11.23M9.85M11.88M11.82M11.9M14.66M16.48M16.6M17.04M17.87M
Dividend Payout Ratio47.94%---------

FAT Balance Sheet

FAT Brands Inc. (FAT) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets568.01K1.18M3.54M10.49M24.42M119.04M95.7M121.01M88.03M49.14M
Cash & Short-Term Investments032K653K25K3.94M56.66M28.67M37.04M23.38M2.05M
Cash Only032K653K25K3.94M56.66M28.67M37.04M23.38M2.05M
Short-Term Investments0000000000
Accounts Receivable408.65K995K1.84M4.41M4.42M20.08M23.88M21.15M19.42M13.99M
Days Sales Outstanding17.64167.1337.7471.4688.9661.6621.416.0611.9610.58
Inventory0005.13M13.7M5.93M6.92M9.31M8.42M7.45M
Days Inventory Outstanding---455.3958.1834.7711.410.286.957.04
Other Current Assets159.36K153K1.04M929K2.37M36.37M36.23M53.51M36.81M25.66M
Total Non-Current Assets13.62M28.06M54.42M72.06M96.72M1.15B1.12B1.27B1.2B1.16B
Property, Plant & Equipment0-8.31M-15.73M860K4.47M179.05M180.3M320.54M295.49M276.06M
Fixed Asset Turnover---26.17x4.05x0.66x2.26x1.50x2.01x2.00x
Goodwill529.4K7.36M10.39M10.91M10.91M295.13M293.3M305.1M285.3M285.34M
Intangible Assets2.13M11.01M23.29M29.73M47.71M652.79M625.3M620.6M595.7M584M
Long-Term Investments08.31M15.73M27.77M1.62M0015.59M019.13M
Other Non-Current Assets9.36M8.75M18.5M755K1.46M24.02M18.73M20.96M24.64M62.76M
Total Assets
14.19M▲ 0%
31.64M▲ 123.0%
57.96M▲ 83.2%
82.55M▲ 42.4%
121.14M▲ 46.8%
1.27B▲ 948.4%
1.21B▼ 4.5%
1.39B▲ 14.4%
1.29B▼ 7.1%
1.21B▲ 0%
Asset Turnover0.60x0.07x0.31x0.27x0.15x0.09x0.34x0.35x0.46x0.46x
Asset Growth %-6.69%123.01%83.17%42.43%46.75%948.37%-4.47%14.42%-7.14%-32.8%
Total Current Liabilities3.55M6.72M27.61M45.61M73.18M198.49M267.02M276.6M298.32M1.57B
Accounts Payable1.07M2.44M4.42M7.18M8.63M27.53M18.33M21.81M38.73M47.69M
Days Payables Outstanding--273.87637.75603.32161.4930.1824.0931.9638.15
Short-Term Debt0015.4M24.5M19.31M631K49.61M42.61M49.24M1.26B
Deferred Revenue (Current)1.34M1.77M1.08M895K1.89M2.64M2.02M2.49M2.27M9.15M
Other Current Liabilities0004.75M17.87M79.78M95.92M95.26M92.23M91.84M
Current Ratio0.16x0.18x0.13x0.23x0.33x0.60x0.36x0.44x0.30x0.30x
Quick Ratio0.16x0.18x0.13x0.12x0.15x0.57x0.33x0.40x0.27x0.27x
Cash Conversion Cycle----111443.82-65.062.622.26-13.05-20.52
Total Non-Current Liabilities2.81M20.5M24.61M31.56M89.85M1.09B1.11B1.37B1.45B238.25M
Long-Term Debt018.13M14.19M20.54M73.85M904.26M958.63M1.11B1.21B2.46M
Capital Lease Obligations000639K4.01M92.92M95.62M211.74M200.13M799.33M
Deferred Tax Liabilities00-14.19M0012.92M27.18M18.8M13.77M58.38M
Other Non-Current Liabilities0436K3.8M5.13M2.89M65.43M2.33M4.68M3.33M14.48M
Total Liabilities6.36M29.63M52.22M77.17M163.03M1.29B1.37B1.64B1.74B1.8B
Total Debt018.13M15.4M45.92M97.92M1.01B1.12B1.38B1.47B1.48B
Net Debt018.09M14.75M45.9M93.98M955.5M1.09B1.34B1.45B1.48B
Debt / Equity-9.02x2.68x8.54x------2.49x
Debt / EBITDA-697.12x3.35x6.85x-108.86x122.78x25.85x--33.85x
Net Debt / EBITDA-695.88x3.21x6.85x-102.76x119.64x25.16x--33.81x
Interest Coverage--0.57x0.94x-1.17x-0.21x-0.13x0.18x-0.39x-0.54x
Total Equity
7.83M▲ 0%
2.01M▼ 74.3%
5.74M▲ 185.7%
5.38M▼ 6.3%
-41.88M▼ 878.8%
-21.66M▲ 48.3%
-159.18M▼ 635.1%
-255.86M▼ 60.7%
-455.71M▼ 78.1%
-593.8M▲ 0%
Equity Growth %30.87%-74.33%185.66%-6.29%-878.78%48.3%-635.06%-60.74%-78.11%-260.6%
Book Value per Share0.700.200.480.45-3.52-1.48-9.66-15.41-26.74-33.23
Total Shareholders' Equity7.83M2.01M5.74M5.38M-41.88M-21.66M-159.18M-255.86M-455.71M-585.82M
Common Stock02.62M10.76M11.41M1K2K2K2K02K
Retained Earnings4.33M-613K-5.02M-6.04M-20.9M-52.48M-178.67M-268.78M-458.62M-611.78M
Treasury Stock000042.78M00000
Accumulated OCI0000-42.78M00000
Minority Interest000000000-7.98M

FAT Cash Flow Statement

FAT Brands Inc. (FAT) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations2.21M1.5M1.84M3.07M-11.48M682K-47.4M-35.61M-56.25M-56.25M
Operating CF Margin %26.18%68.98%10.3%13.65%-63.38%0.57%-11.64%-7.41%-9.49%-
Operating CF Growth %-45.74%-32.29%22.55%67.17%-473.95%105.94%-7050%24.88%-57.96%-370.3%
Net Income3.55M-613K-1.8M-1.02M-14.86M-31.58M-126.19M-90.11M-189.85M-225.79M
Depreciation & Amortization023K358K785K1.17M8.57M27.02M31.13M41.53M37.03M
Stock-Based Compensation089K439K262K99K1.64M7.62M3.62M2.33M17.04M
Deferred Taxes993.54K232K-504K204K-4.08M-5.34M17.46M-8.38M-5.03M-7.42M
Other Non-Cash Items153K-336K700K1.47M10.62M13.23M50.87M6.66M65.27M72.39M
Working Capital Changes-2.48M1.64M2.64M1.37M-4.44M14.17M-24.18M21.47M29.5M44.41M
Change in Receivables-211.31K-213K-301K-723K554K-4.71M-24.52M12.57M696K1.04M
Change in Inventory634.53K-88.46M2.38M853K-4.85M13.38M0-2.38M886K1.02M
Change in Payables36.07K808K2.23M3.77M-9K5.37M-9.2M3.48M16.92M17.63M
Cash from Investing0-10.52M-7.74M-10.49M-36.58M-723.2M-12.5M-59.8M-26.47M-5.23M
Capital Expenditures0-7K-148K-45K-460K-10.42M-23.17M-18.9M0-9.87M
CapEx % of Revenue-0.32%0.83%0.2%2.54%8.77%5.69%3.93%3.85%-
Acquisitions0-10.52M-7.59M8K-22.82M-717.19M-1.02M-38.6M0-4M
Investments----------
Other Investing0-9.33K-6.74M-10.45M-13.29M4.41M11.7M-2.31M-26.47M8.64M
Cash from Financing-2.42M9.05M6.53M6.79M55.24M815.23M28.74M118.55M58.2M26.22M
Debt Issued (Net)006.21M5.77M49.18M800.34M44.65M128.74M70.53M26.31M
Equity Issued (Net)007.98M1.11M7.62M26.73M694K6.16M5M7.29M
Dividends Paid-1.7M0-878K-2K-318K-13.31M-16.6M-16.35M-17.33M-7.37M
Share Repurchases020.93M0-2K-1.24M-29.3M0000
Other Financing-724.65K9.05M-50K-80K-1.24M1.47M0000
Net Change in Cash
-210.87K▲ 0%
32K▲ 115.2%
621K▲ 1840.6%
-628K▼ 201.1%
7.19M▲ 1244.3%
92.71M▲ 1190.1%
-31.16M▼ 133.6%
23.14M▲ 174.3%
-24.51M▼ 205.9%
-44.09M▲ 0%
Free Cash Flow
2.21M▲ 0%
1.49M▼ 32.6%
1.69M▲ 13.2%
3.03M▲ 79.2%
-11.94M▼ 494.7%
-9.74M▲ 18.5%
-70.57M▼ 624.5%
-57.11M▲ 19.1%
-79.05M▼ 38.4%
-74.95M▲ 0%
FCF Margin %26.18%68.66%9.47%13.45%-65.92%-8.19%-17.33%-11.89%-13.34%-13.05%
FCF Growth %-45.74%-32.6%13.2%79.16%-494.71%18.45%-624.54%19.07%-38.41%15.5%
FCF per Share0.200.150.140.26-1.00-0.66-4.28-3.44-4.64-4.64
FCF Conversion (FCF/Net Income)0.62x-2.44x-1.02x-3.02x0.77x-0.02x0.38x0.40x0.30x0.33x
Interest Paid002.5M5.99M6.4M14.98M66.85M109.39M119.67M119.99M
Taxes Paid29.97K0220K244K167K842K1.03M1.75M1.89M-384K

FAT Key Ratios

FAT Brands Inc. (FAT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
Return on Equity (ROE)51.36%-12.48%-46.41%-18.31%-----43.17%
Return on Invested Capital (ROIC)60.95%0.14%15.65%12.37%-23.6%0.13%-1.44%1.66%-3.76%-3.76%
Gross Margin100%100%70%81.73%71.2%47.67%45.58%31.21%25.38%27.41%
Net Margin41.93%-28.26%-10.08%-4.52%-82.02%-26.57%-30.99%-18.76%-32.03%-39.33%
Debt / Equity-9.02x2.68x8.54x------2.49x
Interest Coverage--0.57x0.94x-1.17x-0.21x-0.13x0.18x-0.39x-0.54x
FCF Conversion0.62x-2.44x-1.02x-3.02x0.77x-0.02x0.38x0.40x0.30x0.33x
Revenue Growth12.27%-74.31%720.71%26.19%-19.49%556.15%242.55%17.98%23.35%-5.26%

FAT SEC Filings & Documents

FAT Brands Inc. (FAT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Mar 30, 2026·SEC

Material company update

Jan 30, 2026·SEC

10-K Annual Reports

1
FY 2025

Feb 28, 2025·SEC

10-Q Quarterly Reports

5
FY 2025

Nov 12, 2025·SEC

FY 2025

Jul 31, 2025·SEC

FY 2025

May 9, 2025·SEC

FAT Frequently Asked Questions

FAT Brands Inc. (FAT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

FAT Brands Inc. (FAT) reported $574.1M in revenue for fiscal year 2024. This represents a 7522% increase from $7.5M in 2015.

FAT Brands Inc. (FAT) grew revenue by 23.4% over the past year. This is strong growth.

FAT Brands Inc. (FAT) reported a net loss of $225.8M for fiscal year 2024.

Dividend & Returns

Yes, FAT Brands Inc. (FAT) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.

FAT Brands Inc. (FAT) had negative free cash flow of $75.0M in fiscal year 2024, likely due to heavy capital investments.

Explore More FAT

FAT Brands Inc. (FAT) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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