vs
Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Fat Brands, Inc (FAT). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $75.1M, roughly 1.9× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -41.6%, a 50.2% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs -2.3%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs -6.1%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
BFS vs FAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $140.0M |
| Net Profit | $6.5M | $-58.2M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | -12.4% |
| Net Margin | 8.7% | -41.6% |
| Revenue YoY | 10.6% | -2.3% |
| Net Profit YoY | -19.6% | -30.1% |
| EPS (diluted) | $0.15 | $-3.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | — | ||
| Q3 25 | $72.0M | $140.0M | ||
| Q2 25 | $70.8M | $146.8M | ||
| Q1 25 | $71.9M | $142.0M | ||
| Q4 24 | $67.9M | $145.3M | ||
| Q3 24 | $67.3M | $143.4M | ||
| Q2 24 | $66.9M | $152.0M | ||
| Q1 24 | $66.7M | $152.0M |
| Q4 25 | $6.5M | — | ||
| Q3 25 | $10.5M | $-58.2M | ||
| Q2 25 | $10.7M | $-54.2M | ||
| Q1 25 | $9.8M | $-46.0M | ||
| Q4 24 | $8.1M | $-67.4M | ||
| Q3 24 | $14.5M | $-44.8M | ||
| Q2 24 | $14.4M | $-39.4M | ||
| Q1 24 | $13.6M | $-38.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 73.6% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 72.8% | — |
| Q4 25 | 65.4% | — | ||
| Q3 25 | 69.1% | -12.4% | ||
| Q2 25 | 68.7% | -10.6% | ||
| Q1 25 | 66.5% | -6.0% | ||
| Q4 24 | 82.9% | -27.1% | ||
| Q3 24 | 72.8% | -6.2% | ||
| Q2 24 | 75.0% | -1.8% | ||
| Q1 24 | 72.4% | -0.9% |
| Q4 25 | 8.7% | — | ||
| Q3 25 | 14.6% | -41.6% | ||
| Q2 25 | 15.1% | -36.9% | ||
| Q1 25 | 13.6% | -32.4% | ||
| Q4 24 | 11.9% | -46.4% | ||
| Q3 24 | 21.5% | -31.2% | ||
| Q2 24 | 21.6% | -25.9% | ||
| Q1 24 | 20.4% | -25.2% |
| Q4 25 | $0.15 | — | ||
| Q3 25 | $0.32 | $-3.39 | ||
| Q2 25 | $0.33 | $-3.17 | ||
| Q1 25 | $0.29 | $-2.73 | ||
| Q4 24 | $0.22 | $-4.06 | ||
| Q3 24 | $0.48 | $-2.74 | ||
| Q2 24 | $0.48 | $-2.43 | ||
| Q1 24 | $0.45 | $-2.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | — |
| Total DebtLower is stronger | $468.4M | $1.3B |
| Stockholders' EquityBook value | $307.8M | $-585.8M |
| Total Assets | $2.2B | $1.2B |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | — | ||
| Q3 25 | $11.8M | — | ||
| Q2 25 | $5.3M | — | ||
| Q1 25 | $6.5M | — | ||
| Q4 24 | $10.3M | — | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $6.9M | — | ||
| Q1 24 | $7.1M | — |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $455.8M | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
| Q4 25 | $307.8M | — | ||
| Q3 25 | $316.6M | $-585.8M | ||
| Q2 25 | $322.4M | $-536.5M | ||
| Q1 25 | $328.4M | $-493.9M | ||
| Q4 24 | $335.8M | $-455.7M | ||
| Q3 24 | $341.8M | $-386.1M | ||
| Q2 24 | $345.7M | $-338.6M | ||
| Q1 24 | $347.1M | $-296.8M |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.1B | $1.3B | ||
| Q2 24 | $2.1B | $1.4B | ||
| Q1 24 | $2.0B | $1.4B |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | — | ||
| Q1 24 | 4.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $99.8M | $-14.5M |
| Free Cash FlowOCF − Capex | — | $-16.9M |
| FCF MarginFCF / Revenue | — | -12.1% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-75.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | — | ||
| Q3 25 | $20.6M | $-14.5M | ||
| Q2 25 | $26.6M | $-26.9M | ||
| Q1 25 | $30.4M | $-13.2M | ||
| Q4 24 | $121.2M | $-10.4M | ||
| Q3 24 | $26.5M | $-3.2M | ||
| Q2 24 | $32.1M | $-14.2M | ||
| Q1 24 | $33.8M | $-28.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-16.9M | ||
| Q2 25 | — | $-29.3M | ||
| Q1 25 | — | $-17.8M | ||
| Q4 24 | — | $-11.0M | ||
| Q3 24 | $-28.3M | $-11.1M | ||
| Q2 24 | $-12.5M | $-24.4M | ||
| Q1 24 | $-11.7M | $-32.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | -12.1% | ||
| Q2 25 | — | -20.0% | ||
| Q1 25 | — | -12.5% | ||
| Q4 24 | — | -7.6% | ||
| Q3 24 | -42.1% | -7.7% | ||
| Q2 24 | -18.7% | -16.1% | ||
| Q1 24 | -17.6% | -21.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 81.5% | 5.5% | ||
| Q2 24 | 66.7% | 6.7% | ||
| Q1 24 | 68.3% | 2.7% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
