FAT Brands Inc. (FAT) 10-Year Financial Performance & Capital Metrics

FAT • • Industrial / General

Consumer CyclicalRestaurantsMulti-Brand FranchisorsMulti-Concept Operators

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 Margin 25.38% -18.7%
EBITDA Margin -1.8% -116.2%
Operating Margin -8.81% -289.6%
Net Margin -32.03% -70.8%
ROE -
ROIC -3.76% -326.6%
Debt/Equity -
Interest Coverage -0.38 -298.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 92.4%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 1 (bottom 1%)
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y92.36%

3Y70.83%

TTM0.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-65.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-57.62%

ROCE

10Y Avg8.33%

5Y Avg-8.55%

3Y Avg-1.52%

Latest-4.97%

Peer Comparison

Multi-Concept Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YUMYum! Brands, Inc.	44.72B	161.05	30.85	6.68%	18.11%		3.2%
QSRRestaurant Brands International Inc.	24.02B	69.53	21.86	19.71%	9.95%	17.85%	5.42%	3.29
YUMCYum China Holdings, Inc.	17.07B	48.19	20.59	2.96%	7.81%	14.16%	4.18%	0.37
FATFAT Brands Inc.	6.92M	0.42	-0.04	23.35%	-36.77%
CNNECannae Holdings, Inc.	838.04M	16.21	-3.43	-20.61%	-108.39%	-39.43%		0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	7.53M	8.46M	2.17M	17.83M	22.5M	18.12M	118.88M	407.22M	480.46M	592.65M
Revenue Growth %	-	0.12%	-0.74%	7.21%	0.26%	-0.19%	5.56%	2.43%	0.18%	0.23%
Cost of Goods Sold+	0	0	0	5.88M	4.11M	5.22M	62.22M	221.63M	330.51M	442.23M
COGS % of Revenue	-	-	-	0.33%	0.18%	0.29%	0.52%	0.54%	0.69%	0.75%
Gross Profit+	7.53M	8.46M	2.17M	12.48M	18.39M	12.9M	56.67M	185.6M	149.95M	150.42M
Gross Margin %	1%	1%	1%	0.7%	0.82%	0.71%	0.48%	0.46%	0.31%	0.25%
Gross Profit Growth %	-	0.12%	-0.74%	4.74%	0.47%	-0.3%	3.39%	2.28%	-0.19%	0%
Operating Expenses+	2.59M	2.93M	2.15M	7.71M	12.48M	29.17M	55.84M	203.5M	127.62M	202.64M
OpEx % of Revenue	0.34%	0.35%	0.99%	0.43%	0.55%	1.61%	0.47%	0.5%	0.27%	0.34%
Selling, General & Admin	2.59M	2.93M	2.15M	13.53M	12.26M	14.88M	41.77M	157.93M	93.12M	128.56M
SG&A % of Revenue	0.34%	0.35%	0.99%	0.76%	0.54%	0.82%	0.35%	0.39%	0.19%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	-28K	-5.82M	219K	14.29M	14.07M	45.58M	34.5M	74.08M
Operating Income+	4.94M	5.52M	26K	4.24M	5.92M	-16.27M	824K	-17.9M	22.33M	-52.22M
Operating Margin %	0.66%	0.65%	0.01%	0.24%	0.26%	-0.9%	0.01%	-0.04%	0.05%	-0.09%
Operating Income Growth %	-	0.12%	-1%	161.92%	0.4%	-3.75%	1.05%	-22.73%	2.25%	-3.34%
EBITDA+	4.94M	5.52M	26K	4.59M	6.7M	-15.09M	9.3M	9.11M	53.46M	-10.69M
EBITDA Margin %	0.66%	0.65%	0.01%	0.26%	0.3%	-0.83%	0.08%	0.02%	0.11%	-0.02%
EBITDA Growth %	-	0.12%	-1%	175.69%	0.46%	-3.25%	1.62%	-0.02%	4.87%	-1.2%
D&A (Non-Cash Add-back)	0	0	0	358K	785K	1.17M	8.47M	27.02M	31.13M	41.53M
EBIT	4.94M	5.52M	0	2.7M	8.15M	-10M	-6.06M	-12.53M	21.17M	-54.35M
Net Interest Income+	0	0	0	-4.77M	-6.53M	-4.92M	-29.06M	-94.85M	-117.53M	-138.25M
Interest Income	0	0	-206K	0	2.13M	3.63M	0	0	0	0
Interest Expense	0	0	0	4.77M	8.66M	8.55M	29.06M	94.85M	117.53M	138.25M
Other Income/Expense	0	0	-28K	-6.31M	-6.43M	-2.28M	-35.94M	-89.47M	-118.69M	-140.38M
Pretax Income+	4.94M	5.52M	-208K	-2.07M	-508K	-18.55M	-35.12M	-107.38M	-96.36M	-192.6M
Pretax Margin %	0.66%	0.65%	-0.1%	-0.12%	-0.02%	-1.02%	-0.3%	-0.26%	-0.2%	-0.32%
Income Tax+	2.28M	1.98M	406K	-275K	510K	-3.69M	-3.54M	18.81M	-6.25M	-2.75M
Effective Tax Rate %	0.54%	0.64%	2.95%	0.87%	2%	0.8%	0.9%	1.18%	0.94%	0.99%
Net Income+	2.66M	3.55M	-614K	-1.8M	-1.02M	-14.86M	-31.58M	-126.19M	-90.11M	-189.85M
Net Margin %	0.35%	0.42%	-0.28%	-0.1%	-0.05%	-0.82%	-0.27%	-0.31%	-0.19%	-0.32%
Net Income Growth %	-	0.33%	-1.17%	-1.93%	0.43%	-13.6%	-1.13%	-3%	0.29%	-1.11%
Net Income (Continuing)	2.66M	3.55M	0	-1.8M	-1.02M	-14.86M	-31.58M	-126.19M	-90.11M	-189.85M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.24	0.31	-0.06	-0.15	-0.09	-1.25	-2.15	-7.66	-5.85	-11.60
EPS Growth %	-	0.29%	-1.2%	-1.41%	0.43%	-13.52%	-0.72%	-2.56%	0.24%	-0.98%
EPS (Basic)	0.24	0.31	-0.06	-0.15	-0.09	-1.25	-2.15	-7.66	-5.85	-11.60
Diluted Shares Outstanding	11.23M	11.23M	9.85M	12.07M	11.82M	11.9M	14.66M	16.48M	16.6M	17.04M
Basic Shares Outstanding	11.23M	11.23M	9.85M	11.88M	11.82M	11.9M	14.66M	16.48M	16.6M	17.04M
Dividend Payout Ratio	2.63%	0.48%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.32M	568.01K	1.18M	3.54M	10.49M	24.42M	119.04M	95.7M	121.01M	88.03M
Cash & Short-Term Investments	210.87K	0	32K	653K	25K	3.94M	56.66M	28.67M	37.04M	23.38M
Cash Only	210.87K	0	32K	653K	25K	3.94M	56.66M	28.67M	37.04M	23.38M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	350.35K	408.65K	995K	1.84M	4.41M	4.42M	20.08M	23.88M	21.15M	19.42M
Days Sales Outstanding	16.98	17.64	167.13	37.74	71.46	88.96	61.66	21.4	16.06	11.96
Inventory	0	0	0	0	5.13M	13.7M	5.93M	6.92M	9.31M	8.42M
Days Inventory Outstanding	-	-	-	-	455.3	958.18	34.77	11.4	10.28	6.95
Other Current Assets	754.54K	159.36K	153K	1.04M	929K	2.37M	36.37M	36.23M	53.51M	36.81M
Total Non-Current Assets+	13.89M	13.62M	28.06M	54.42M	72.06M	96.72M	1.15B	1.12B	1.27B	1.2B
Property, Plant & Equipment	0	0	-8.31M	-15.73M	860K	4.47M	179.05M	180.3M	320.54M	295.49M
Fixed Asset Turnover	-	-	-	-	26.17x	4.05x	0.66x	2.26x	1.50x	2.01x
Goodwill	529.4K	529.4K	7.36M	10.39M	10.91M	10.91M	295.13M	293.3M	305.1M	285.3M
Intangible Assets	2.13M	2.13M	11.01M	23.29M	29.73M	47.71M	652.79M	625.3M	620.6M	595.7M
Long-Term Investments	0	0	8.31M	15.73M	27.77M	1.62M	0	0	15.59M	0
Other Non-Current Assets	8.64M	9.36M	8.75M	18.5M	755K	1.46M	24.02M	18.73M	20.96M	24.64M
Total Assets+	15.21M	14.19M	31.64M	57.96M	82.55M	121.14M	1.27B	1.21B	1.39B	1.29B
Asset Turnover	0.50x	0.60x	0.07x	0.31x	0.27x	0.15x	0.09x	0.34x	0.35x	0.46x
Asset Growth %	-	-0.07%	1.23%	0.83%	0.42%	0.47%	9.48%	-0.04%	0.14%	-0.07%
Total Current Liabilities+	3.72M	3.55M	6.72M	27.61M	45.61M	73.18M	198.49M	267.02M	276.6M	298.32M
Accounts Payable	1.03M	1.07M	2.44M	4.42M	7.18M	8.63M	27.53M	18.33M	21.81M	38.73M
Days Payables Outstanding	-	-	-	273.87	637.75	603.32	161.49	30.18	24.09	31.96
Short-Term Debt	0	0	0	15.4M	24.5M	19.31M	631K	49.61M	42.61M	49.24M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	895K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	4.75M	17.87M	79.78M	95.92M	95.26M	92.23M
Current Ratio	0.35x	0.16x	0.18x	0.13x	0.23x	0.33x	0.60x	0.36x	0.44x	0.30x
Quick Ratio	0.35x	0.16x	0.18x	0.13x	0.12x	0.15x	0.57x	0.33x	0.40x	0.27x
Cash Conversion Cycle	-	-	-	-	-111	443.82	-65.06	2.62	2.26	-13.05
Total Non-Current Liabilities+	5.51M	2.81M	20.5M	24.61M	31.56M	89.85M	1.09B	1.11B	1.37B	1.45B
Long-Term Debt	0	0	18.13M	14.19M	20.54M	73.85M	904.26M	958.63M	1.11B	1.21B
Capital Lease Obligations	0	0	0	0	639K	4.01M	92.92M	95.62M	211.74M	200.13M
Deferred Tax Liabilities	0	0	0	-14.19M	0	0	12.92M	27.18M	18.8M	13.77M
Other Non-Current Liabilities	0	0	436K	3.8M	5.13M	2.89M	65.43M	2.33M	4.68M	3.33M
Total Liabilities	9.22M	6.36M	29.63M	52.22M	77.17M	163.03M	1.29B	1.37B	1.64B	1.74B
Total Debt+	0	0	18.13M	15.4M	45.92M	97.92M	1.01B	1.12B	1.38B	1.47B
Net Debt	-210.87K	0	18.09M	14.75M	45.9M	93.98M	955.5M	1.09B	1.34B	1.45B
Debt / Equity	-	-	9.02x	2.68x	8.54x	-	-	-	-	-
Debt / EBITDA	-	-	697.12x	3.35x	6.85x	-	108.86x	122.78x	25.85x	-
Net Debt / EBITDA	-0.04x	-	695.88x	3.21x	6.85x	-	102.76x	119.64x	25.16x	-
Interest Coverage	-	-	-	0.89x	0.68x	-1.90x	0.03x	-0.19x	0.19x	-0.38x
Total Equity+	5.98M	7.83M	2.01M	5.74M	5.38M	-41.88M	-21.66M	-159.18M	-255.86M	-455.71M
Equity Growth %	-	0.31%	-0.74%	1.86%	-0.06%	-8.79%	0.48%	-6.35%	-0.61%	-0.78%
Book Value per Share	0.53	0.70	0.20	0.48	0.45	-3.52	-1.48	-9.66	-15.41	-26.74
Total Shareholders' Equity	5.98M	7.83M	2.01M	5.74M	5.38M	-41.88M	-21.66M	-159.18M	-255.86M	-455.71M
Common Stock	0	0	2.62M	10.76M	11.41M	1K	2K	2K	2K	0
Retained Earnings	2.48M	4.33M	-613K	-5.02M	-6.04M	-20.9M	-52.48M	-178.67M	-268.78M	-458.62M
Treasury Stock	0	0	0	0	0	42.78M	0	0	0	0
Accumulated OCI	0	0	0	0	0	-42.78M	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.08M	2.21M	1.5M	1.84M	3.07M	-11.48M	682K	-47.4M	-35.61M	-56.25M
Operating CF Margin %	0.54%	0.26%	0.69%	0.1%	0.14%	-0.63%	0.01%	-0.12%	-0.07%	-0.09%
Operating CF Growth %	-	-0.46%	-0.32%	0.23%	0.67%	-4.74%	1.06%	-70.5%	0.25%	-0.58%
Net Income	2.66M	3.55M	-613K	-1.8M	-1.02M	-14.86M	-31.58M	-126.19M	-90.11M	-189.85M
Depreciation & Amortization	0	0	23K	358K	785K	1.17M	8.57M	27.02M	31.13M	41.53M
Stock-Based Compensation	0	0	89K	439K	262K	99K	1.64M	7.62M	3.62M	2.33M
Deferred Taxes	299.56K	993.54K	232K	-504K	204K	-4.08M	-5.34M	17.46M	-8.38M	-5.03M
Other Non-Cash Items	135.39K	153K	-336K	700K	1.47M	10.62M	13.23M	50.87M	6.66M	65.27M
Working Capital Changes	984.74K	-2.48M	1.64M	2.64M	1.37M	-4.44M	14.17M	-24.18M	21.47M	29.5M
Change in Receivables	-53.6K	-211.31K	-213K	-301K	-723K	554K	-4.71M	-24.52M	12.57M	696K
Change in Inventory	553.85K	634.53K	-88.46M	2.38M	853K	-4.85M	13.38M	0	-2.38M	886K
Change in Payables	238.85K	36.07K	808K	2.23M	3.77M	-9K	5.37M	-9.2M	3.48M	16.92M
Cash from Investing+	0	0	-10.52M	-7.74M	-10.49M	-36.58M	-723.2M	-12.5M	-59.8M	-26.47M
Capital Expenditures	0	0	-7K	-148K	-45K	-460K	-10.42M	-23.17M	-18.9M	0
CapEx % of Revenue	-	-	0%	0.01%	0%	0.03%	0.09%	0.06%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-9.33K	-6.74M	-10.45M	-13.29M	4.41M	11.7M	-2.31M	-26.47M
Cash from Financing+	-3.87M	-2.42M	9.05M	6.53M	6.79M	55.24M	815.23M	28.74M	118.55M	58.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-7M	-1.7M	0	-878K	-2K	-318K	-13.31M	-16.6M	-16.35M	-17.33M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.13M	-724.65K	9.05M	-50K	-80K	-1.24M	1.47M	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	4.08M	2.21M	1.49M	1.69M	3.03M	-11.94M	-9.74M	-70.57M	-57.11M	-79.05M
FCF Margin %	0.54%	0.26%	0.69%	0.09%	0.13%	-0.66%	-0.08%	-0.17%	-0.12%	-0.13%
FCF Growth %	-	-0.46%	-0.33%	0.13%	0.79%	-4.95%	0.18%	-6.25%	0.19%	-0.38%
FCF per Share	0.36	0.20	0.15	0.14	0.26	-1.00	-0.66	-4.28	-3.44	-4.64
FCF Conversion (FCF/Net Income)	1.53x	0.62x	-2.44x	-1.02x	-3.02x	0.77x	-0.02x	0.38x	0.40x	0.30x
Interest Paid	0	0	0	2.5M	5.99M	6.4M	14.98M	66.85M	109.39M	119.67M
Taxes Paid	152.28K	29.97K	0	220K	244K	167K	842K	1.03M	1.75M	1.89M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	44.48%	51.36%	-12.48%	-46.41%	-18.31%	-	-	-	-	-
Return on Invested Capital (ROIC)	64.25%	60.95%	0.14%	15.65%	12.37%	-23.6%	0.13%	-1.44%	1.66%	-3.76%
Gross Margin	100%	100%	100%	70%	81.73%	71.2%	47.67%	45.58%	31.21%	25.38%
Net Margin	35.32%	41.93%	-28.26%	-10.08%	-4.52%	-82.02%	-26.57%	-30.99%	-18.76%	-32.03%
Debt / Equity	-	-	9.02x	2.68x	8.54x	-	-	-	-	-
Interest Coverage	-	-	-	0.89x	0.68x	-1.90x	0.03x	-0.19x	0.19x	-0.38x
FCF Conversion	1.53x	0.62x	-2.44x	-1.02x	-3.02x	0.77x	-0.02x	0.38x	0.40x	0.30x
Revenue Growth	-	12.27%	-74.31%	720.71%	26.19%	-19.49%	556.15%	242.55%	17.98%	23.35%

Revenue by Segment

	2018	2020	2021	2022	2023	2024
Restaurant Sales	-	-	41.56M	241M	299.03M	413.48M
Restaurant Sales Growth	-	-	-	479.85%	24.08%	38.27%
Royalty	-	-	42.66M	87.92M	94.04M	90.03M
Royalty Growth	-	-	-	106.11%	6.96%	-4.25%
Advertising	-	-	16.73M	38M	39.49M	39.47M
Advertising Growth	-	-	-	127.15%	3.93%	-0.04%
Factory	-	-	13.47M	33.5M	37.98M	37.95M
Factory Growth	-	-	-	148.73%	13.37%	-0.09%
Franchisor	-	-	4.02M	3.71M	4.98M	6.49M
Franchisor Growth	-	-	-	-7.88%	34.35%	30.29%
Product and Service, Other	-	-	-	-	4.94M	5.23M
Product and Service, Other Growth	-	-	-	-	-	5.83%
Management Service	-	-	439K	3.1M	-	-
Management Service Growth	-	-	-	605.01%	-	-

Revenue by Geography

	2018	2020	2021	2022	2023	2024
UNITED STATES	-	-	108.64M	397.4M	-	579.8M
UNITED STATES Growth	-	-	-	265.79%	-	-
Other Countries	4.34M	3.97M	10.24M	9.8M	10.9M	12.9M
Other Countries Growth	-	-8.56%	157.75%	-4.28%	11.22%	18.35%
United States	14.02M	14.15M	-	-	-	-
United States Growth	-	0.88%	-	-	-	-

Frequently Asked Questions

Growth & Financials

FAT Brands Inc. (FAT) reported $577.5M in revenue for fiscal year 2024. This represents a 7567% 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 $212.3M 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 $69.2M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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FAT Brands Inc. (FAT) 10-Year Financial Performance & Capital Metrics

FAT • • Industrial / General

Consumer CyclicalRestaurantsMulti-Brand FranchisorsMulti-Concept Operators

Revenue $593M +23.4%
EBITDA -$11M -120.0%
Net Income -$190M -110.7%
EPS (Diluted) -11.60 -98.3%
Gross Margin 25.38% -18.7%
EBITDA Margin -1.8% -116.2%
Operating Margin -8.81% -289.6%
Net Margin -32.03% -70.8%
ROE -
ROIC -3.76% -326.6%
Debt/Equity -
Interest Coverage -0.38 -298.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 92.4%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 1 (bottom 1%)
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y92.36%

3Y70.83%

TTM0.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-65.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-57.62%

ROCE

10Y Avg8.33%

5Y Avg-8.55%

3Y Avg-1.52%

Latest-4.97%

Peer Comparison

Multi-Concept Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YUMYum! Brands, Inc.	44.72B	161.05	30.85	6.68%	18.11%		3.2%
QSRRestaurant Brands International Inc.	24.02B	69.53	21.86	19.71%	9.95%	17.85%	5.42%	3.29
YUMCYum China Holdings, Inc.	17.07B	48.19	20.59	2.96%	7.81%	14.16%	4.18%	0.37
FATFAT Brands Inc.	6.92M	0.42	-0.04	23.35%	-36.77%
CNNECannae Holdings, Inc.	838.04M	16.21	-3.43	-20.61%	-108.39%	-39.43%		0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	7.53M	8.46M	2.17M	17.83M	22.5M	18.12M	118.88M	407.22M	480.46M	592.65M
Revenue Growth %	-	0.12%	-0.74%	7.21%	0.26%	-0.19%	5.56%	2.43%	0.18%	0.23%
Cost of Goods Sold+	0	0	0	5.88M	4.11M	5.22M	62.22M	221.63M	330.51M	442.23M
COGS % of Revenue	-	-	-	0.33%	0.18%	0.29%	0.52%	0.54%	0.69%	0.75%
Gross Profit+	7.53M	8.46M	2.17M	12.48M	18.39M	12.9M	56.67M	185.6M	149.95M	150.42M
Gross Margin %	1%	1%	1%	0.7%	0.82%	0.71%	0.48%	0.46%	0.31%	0.25%
Gross Profit Growth %	-	0.12%	-0.74%	4.74%	0.47%	-0.3%	3.39%	2.28%	-0.19%	0%
Operating Expenses+	2.59M	2.93M	2.15M	7.71M	12.48M	29.17M	55.84M	203.5M	127.62M	202.64M
OpEx % of Revenue	0.34%	0.35%	0.99%	0.43%	0.55%	1.61%	0.47%	0.5%	0.27%	0.34%
Selling, General & Admin	2.59M	2.93M	2.15M	13.53M	12.26M	14.88M	41.77M	157.93M	93.12M	128.56M
SG&A % of Revenue	0.34%	0.35%	0.99%	0.76%	0.54%	0.82%	0.35%	0.39%	0.19%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	-28K	-5.82M	219K	14.29M	14.07M	45.58M	34.5M	74.08M
Operating Income+	4.94M	5.52M	26K	4.24M	5.92M	-16.27M	824K	-17.9M	22.33M	-52.22M
Operating Margin %	0.66%	0.65%	0.01%	0.24%	0.26%	-0.9%	0.01%	-0.04%	0.05%	-0.09%
Operating Income Growth %	-	0.12%	-1%	161.92%	0.4%	-3.75%	1.05%	-22.73%	2.25%	-3.34%
EBITDA+	4.94M	5.52M	26K	4.59M	6.7M	-15.09M	9.3M	9.11M	53.46M	-10.69M
EBITDA Margin %	0.66%	0.65%	0.01%	0.26%	0.3%	-0.83%	0.08%	0.02%	0.11%	-0.02%
EBITDA Growth %	-	0.12%	-1%	175.69%	0.46%	-3.25%	1.62%	-0.02%	4.87%	-1.2%
D&A (Non-Cash Add-back)	0	0	0	358K	785K	1.17M	8.47M	27.02M	31.13M	41.53M
EBIT	4.94M	5.52M	0	2.7M	8.15M	-10M	-6.06M	-12.53M	21.17M	-54.35M
Net Interest Income+	0	0	0	-4.77M	-6.53M	-4.92M	-29.06M	-94.85M	-117.53M	-138.25M
Interest Income	0	0	-206K	0	2.13M	3.63M	0	0	0	0
Interest Expense	0	0	0	4.77M	8.66M	8.55M	29.06M	94.85M	117.53M	138.25M
Other Income/Expense	0	0	-28K	-6.31M	-6.43M	-2.28M	-35.94M	-89.47M	-118.69M	-140.38M
Pretax Income+	4.94M	5.52M	-208K	-2.07M	-508K	-18.55M	-35.12M	-107.38M	-96.36M	-192.6M
Pretax Margin %	0.66%	0.65%	-0.1%	-0.12%	-0.02%	-1.02%	-0.3%	-0.26%	-0.2%	-0.32%
Income Tax+	2.28M	1.98M	406K	-275K	510K	-3.69M	-3.54M	18.81M	-6.25M	-2.75M
Effective Tax Rate %	0.54%	0.64%	2.95%	0.87%	2%	0.8%	0.9%	1.18%	0.94%	0.99%
Net Income+	2.66M	3.55M	-614K	-1.8M	-1.02M	-14.86M	-31.58M	-126.19M	-90.11M	-189.85M
Net Margin %	0.35%	0.42%	-0.28%	-0.1%	-0.05%	-0.82%	-0.27%	-0.31%	-0.19%	-0.32%
Net Income Growth %	-	0.33%	-1.17%	-1.93%	0.43%	-13.6%	-1.13%	-3%	0.29%	-1.11%
Net Income (Continuing)	2.66M	3.55M	0	-1.8M	-1.02M	-14.86M	-31.58M	-126.19M	-90.11M	-189.85M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.24	0.31	-0.06	-0.15	-0.09	-1.25	-2.15	-7.66	-5.85	-11.60
EPS Growth %	-	0.29%	-1.2%	-1.41%	0.43%	-13.52%	-0.72%	-2.56%	0.24%	-0.98%
EPS (Basic)	0.24	0.31	-0.06	-0.15	-0.09	-1.25	-2.15	-7.66	-5.85	-11.60
Diluted Shares Outstanding	11.23M	11.23M	9.85M	12.07M	11.82M	11.9M	14.66M	16.48M	16.6M	17.04M
Basic Shares Outstanding	11.23M	11.23M	9.85M	11.88M	11.82M	11.9M	14.66M	16.48M	16.6M	17.04M
Dividend Payout Ratio	2.63%	0.48%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.32M	568.01K	1.18M	3.54M	10.49M	24.42M	119.04M	95.7M	121.01M	88.03M
Cash & Short-Term Investments	210.87K	0	32K	653K	25K	3.94M	56.66M	28.67M	37.04M	23.38M
Cash Only	210.87K	0	32K	653K	25K	3.94M	56.66M	28.67M	37.04M	23.38M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	350.35K	408.65K	995K	1.84M	4.41M	4.42M	20.08M	23.88M	21.15M	19.42M
Days Sales Outstanding	16.98	17.64	167.13	37.74	71.46	88.96	61.66	21.4	16.06	11.96
Inventory	0	0	0	0	5.13M	13.7M	5.93M	6.92M	9.31M	8.42M
Days Inventory Outstanding	-	-	-	-	455.3	958.18	34.77	11.4	10.28	6.95
Other Current Assets	754.54K	159.36K	153K	1.04M	929K	2.37M	36.37M	36.23M	53.51M	36.81M
Total Non-Current Assets+	13.89M	13.62M	28.06M	54.42M	72.06M	96.72M	1.15B	1.12B	1.27B	1.2B
Property, Plant & Equipment	0	0	-8.31M	-15.73M	860K	4.47M	179.05M	180.3M	320.54M	295.49M
Fixed Asset Turnover	-	-	-	-	26.17x	4.05x	0.66x	2.26x	1.50x	2.01x
Goodwill	529.4K	529.4K	7.36M	10.39M	10.91M	10.91M	295.13M	293.3M	305.1M	285.3M
Intangible Assets	2.13M	2.13M	11.01M	23.29M	29.73M	47.71M	652.79M	625.3M	620.6M	595.7M
Long-Term Investments	0	0	8.31M	15.73M	27.77M	1.62M	0	0	15.59M	0
Other Non-Current Assets	8.64M	9.36M	8.75M	18.5M	755K	1.46M	24.02M	18.73M	20.96M	24.64M
Total Assets+	15.21M	14.19M	31.64M	57.96M	82.55M	121.14M	1.27B	1.21B	1.39B	1.29B
Asset Turnover	0.50x	0.60x	0.07x	0.31x	0.27x	0.15x	0.09x	0.34x	0.35x	0.46x
Asset Growth %	-	-0.07%	1.23%	0.83%	0.42%	0.47%	9.48%	-0.04%	0.14%	-0.07%
Total Current Liabilities+	3.72M	3.55M	6.72M	27.61M	45.61M	73.18M	198.49M	267.02M	276.6M	298.32M
Accounts Payable	1.03M	1.07M	2.44M	4.42M	7.18M	8.63M	27.53M	18.33M	21.81M	38.73M
Days Payables Outstanding	-	-	-	273.87	637.75	603.32	161.49	30.18	24.09	31.96
Short-Term Debt	0	0	0	15.4M	24.5M	19.31M	631K	49.61M	42.61M	49.24M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	895K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	4.75M	17.87M	79.78M	95.92M	95.26M	92.23M
Current Ratio	0.35x	0.16x	0.18x	0.13x	0.23x	0.33x	0.60x	0.36x	0.44x	0.30x
Quick Ratio	0.35x	0.16x	0.18x	0.13x	0.12x	0.15x	0.57x	0.33x	0.40x	0.27x
Cash Conversion Cycle	-	-	-	-	-111	443.82	-65.06	2.62	2.26	-13.05
Total Non-Current Liabilities+	5.51M	2.81M	20.5M	24.61M	31.56M	89.85M	1.09B	1.11B	1.37B	1.45B
Long-Term Debt	0	0	18.13M	14.19M	20.54M	73.85M	904.26M	958.63M	1.11B	1.21B
Capital Lease Obligations	0	0	0	0	639K	4.01M	92.92M	95.62M	211.74M	200.13M
Deferred Tax Liabilities	0	0	0	-14.19M	0	0	12.92M	27.18M	18.8M	13.77M
Other Non-Current Liabilities	0	0	436K	3.8M	5.13M	2.89M	65.43M	2.33M	4.68M	3.33M
Total Liabilities	9.22M	6.36M	29.63M	52.22M	77.17M	163.03M	1.29B	1.37B	1.64B	1.74B
Total Debt+	0	0	18.13M	15.4M	45.92M	97.92M	1.01B	1.12B	1.38B	1.47B
Net Debt	-210.87K	0	18.09M	14.75M	45.9M	93.98M	955.5M	1.09B	1.34B	1.45B
Debt / Equity	-	-	9.02x	2.68x	8.54x	-	-	-	-	-
Debt / EBITDA	-	-	697.12x	3.35x	6.85x	-	108.86x	122.78x	25.85x	-
Net Debt / EBITDA	-0.04x	-	695.88x	3.21x	6.85x	-	102.76x	119.64x	25.16x	-
Interest Coverage	-	-	-	0.89x	0.68x	-1.90x	0.03x	-0.19x	0.19x	-0.38x
Total Equity+	5.98M	7.83M	2.01M	5.74M	5.38M	-41.88M	-21.66M	-159.18M	-255.86M	-455.71M
Equity Growth %	-	0.31%	-0.74%	1.86%	-0.06%	-8.79%	0.48%	-6.35%	-0.61%	-0.78%
Book Value per Share	0.53	0.70	0.20	0.48	0.45	-3.52	-1.48	-9.66	-15.41	-26.74
Total Shareholders' Equity	5.98M	7.83M	2.01M	5.74M	5.38M	-41.88M	-21.66M	-159.18M	-255.86M	-455.71M
Common Stock	0	0	2.62M	10.76M	11.41M	1K	2K	2K	2K	0
Retained Earnings	2.48M	4.33M	-613K	-5.02M	-6.04M	-20.9M	-52.48M	-178.67M	-268.78M	-458.62M
Treasury Stock	0	0	0	0	0	42.78M	0	0	0	0
Accumulated OCI	0	0	0	0	0	-42.78M	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.08M	2.21M	1.5M	1.84M	3.07M	-11.48M	682K	-47.4M	-35.61M	-56.25M
Operating CF Margin %	0.54%	0.26%	0.69%	0.1%	0.14%	-0.63%	0.01%	-0.12%	-0.07%	-0.09%
Operating CF Growth %	-	-0.46%	-0.32%	0.23%	0.67%	-4.74%	1.06%	-70.5%	0.25%	-0.58%
Net Income	2.66M	3.55M	-613K	-1.8M	-1.02M	-14.86M	-31.58M	-126.19M	-90.11M	-189.85M
Depreciation & Amortization	0	0	23K	358K	785K	1.17M	8.57M	27.02M	31.13M	41.53M
Stock-Based Compensation	0	0	89K	439K	262K	99K	1.64M	7.62M	3.62M	2.33M
Deferred Taxes	299.56K	993.54K	232K	-504K	204K	-4.08M	-5.34M	17.46M	-8.38M	-5.03M
Other Non-Cash Items	135.39K	153K	-336K	700K	1.47M	10.62M	13.23M	50.87M	6.66M	65.27M
Working Capital Changes	984.74K	-2.48M	1.64M	2.64M	1.37M	-4.44M	14.17M	-24.18M	21.47M	29.5M
Change in Receivables	-53.6K	-211.31K	-213K	-301K	-723K	554K	-4.71M	-24.52M	12.57M	696K
Change in Inventory	553.85K	634.53K	-88.46M	2.38M	853K	-4.85M	13.38M	0	-2.38M	886K
Change in Payables	238.85K	36.07K	808K	2.23M	3.77M	-9K	5.37M	-9.2M	3.48M	16.92M
Cash from Investing+	0	0	-10.52M	-7.74M	-10.49M	-36.58M	-723.2M	-12.5M	-59.8M	-26.47M
Capital Expenditures	0	0	-7K	-148K	-45K	-460K	-10.42M	-23.17M	-18.9M	0
CapEx % of Revenue	-	-	0%	0.01%	0%	0.03%	0.09%	0.06%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-9.33K	-6.74M	-10.45M	-13.29M	4.41M	11.7M	-2.31M	-26.47M
Cash from Financing+	-3.87M	-2.42M	9.05M	6.53M	6.79M	55.24M	815.23M	28.74M	118.55M	58.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-7M	-1.7M	0	-878K	-2K	-318K	-13.31M	-16.6M	-16.35M	-17.33M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.13M	-724.65K	9.05M	-50K	-80K	-1.24M	1.47M	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	4.08M	2.21M	1.49M	1.69M	3.03M	-11.94M	-9.74M	-70.57M	-57.11M	-79.05M
FCF Margin %	0.54%	0.26%	0.69%	0.09%	0.13%	-0.66%	-0.08%	-0.17%	-0.12%	-0.13%
FCF Growth %	-	-0.46%	-0.33%	0.13%	0.79%	-4.95%	0.18%	-6.25%	0.19%	-0.38%
FCF per Share	0.36	0.20	0.15	0.14	0.26	-1.00	-0.66	-4.28	-3.44	-4.64
FCF Conversion (FCF/Net Income)	1.53x	0.62x	-2.44x	-1.02x	-3.02x	0.77x	-0.02x	0.38x	0.40x	0.30x
Interest Paid	0	0	0	2.5M	5.99M	6.4M	14.98M	66.85M	109.39M	119.67M
Taxes Paid	152.28K	29.97K	0	220K	244K	167K	842K	1.03M	1.75M	1.89M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	44.48%	51.36%	-12.48%	-46.41%	-18.31%	-	-	-	-	-
Return on Invested Capital (ROIC)	64.25%	60.95%	0.14%	15.65%	12.37%	-23.6%	0.13%	-1.44%	1.66%	-3.76%
Gross Margin	100%	100%	100%	70%	81.73%	71.2%	47.67%	45.58%	31.21%	25.38%
Net Margin	35.32%	41.93%	-28.26%	-10.08%	-4.52%	-82.02%	-26.57%	-30.99%	-18.76%	-32.03%
Debt / Equity	-	-	9.02x	2.68x	8.54x	-	-	-	-	-
Interest Coverage	-	-	-	0.89x	0.68x	-1.90x	0.03x	-0.19x	0.19x	-0.38x
FCF Conversion	1.53x	0.62x	-2.44x	-1.02x	-3.02x	0.77x	-0.02x	0.38x	0.40x	0.30x
Revenue Growth	-	12.27%	-74.31%	720.71%	26.19%	-19.49%	556.15%	242.55%	17.98%	23.35%

Revenue by Segment

	2018	2020	2021	2022	2023	2024
Restaurant Sales	-	-	41.56M	241M	299.03M	413.48M
Restaurant Sales Growth	-	-	-	479.85%	24.08%	38.27%
Royalty	-	-	42.66M	87.92M	94.04M	90.03M
Royalty Growth	-	-	-	106.11%	6.96%	-4.25%
Advertising	-	-	16.73M	38M	39.49M	39.47M
Advertising Growth	-	-	-	127.15%	3.93%	-0.04%
Factory	-	-	13.47M	33.5M	37.98M	37.95M
Factory Growth	-	-	-	148.73%	13.37%	-0.09%
Franchisor	-	-	4.02M	3.71M	4.98M	6.49M
Franchisor Growth	-	-	-	-7.88%	34.35%	30.29%
Product and Service, Other	-	-	-	-	4.94M	5.23M
Product and Service, Other Growth	-	-	-	-	-	5.83%
Management Service	-	-	439K	3.1M	-	-
Management Service Growth	-	-	-	605.01%	-	-

Revenue by Geography

	2018	2020	2021	2022	2023	2024
UNITED STATES	-	-	108.64M	397.4M	-	579.8M
UNITED STATES Growth	-	-	-	265.79%	-	-
Other Countries	4.34M	3.97M	10.24M	9.8M	10.9M	12.9M
Other Countries Growth	-	-8.56%	157.75%	-4.28%	11.22%	18.35%
United States	14.02M	14.15M	-	-	-	-
United States Growth	-	0.88%	-	-	-	-

Frequently Asked Questions

Growth & Financials

FAT Brands Inc. (FAT) reported $577.5M in revenue for fiscal year 2024. This represents a 7567% 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 $212.3M 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 $69.2M in fiscal year 2024, likely due to heavy capital investments.