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Side-by-side financial comparison of Vita Coco Company, Inc. (COCO) and Fat Brands, Inc (FAT). Click either name above to swap in a different company.
Vita Coco Company, Inc. is the larger business by last-quarter revenue ($179.8M vs $140.0M, roughly 1.3× Fat Brands, Inc). Vita Coco Company, Inc. runs the higher net margin — 17.0% vs -41.6%, a 58.5% gap on every dollar of revenue. On growth, Vita Coco Company, Inc. posted the faster year-over-year revenue change (37.3% vs -2.3%). Over the past eight quarters, Vita Coco Company, Inc.'s revenue compounded faster (11.7% CAGR vs -6.1%).
The Vita Coco Company, doing business simply as Vita Coco, is an American beverage company which mainly sells coconut water. The largest brand globally in coconut/plant waters, Vita Coco has operations in 31 countries as of 2016. It is a benefit corporation. The company is owned by All Market Inc.
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
COCO vs FAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.8M | $140.0M |
| Net Profit | $30.5M | $-58.2M |
| Gross Margin | 39.9% | — |
| Operating Margin | 18.7% | -12.4% |
| Net Margin | 17.0% | -41.6% |
| Revenue YoY | 37.3% | -2.3% |
| Net Profit YoY | 61.4% | -30.1% |
| EPS (diluted) | $0.50 | $-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.
| Q1 26 | $179.8M | — | ||
| Q4 25 | $127.8M | — | ||
| Q3 25 | $182.3M | $140.0M | ||
| Q2 25 | $168.8M | $146.8M | ||
| Q1 25 | $130.9M | $142.0M | ||
| Q4 24 | $127.3M | $145.3M | ||
| Q3 24 | $132.9M | $143.4M | ||
| Q2 24 | $144.1M | $152.0M |
| Q1 26 | $30.5M | — | ||
| Q4 25 | $5.5M | — | ||
| Q3 25 | $24.0M | $-58.2M | ||
| Q2 25 | $22.9M | $-54.2M | ||
| Q1 25 | $18.9M | $-46.0M | ||
| Q4 24 | $3.4M | $-67.4M | ||
| Q3 24 | $19.3M | $-44.8M | ||
| Q2 24 | $19.1M | $-39.4M |
| Q1 26 | 39.9% | — | ||
| Q4 25 | 34.9% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 36.3% | — | ||
| Q1 25 | 36.7% | — | ||
| Q4 24 | 32.5% | — | ||
| Q3 24 | 38.8% | — | ||
| Q2 24 | 40.8% | — |
| Q1 26 | 18.7% | — | ||
| Q4 25 | 8.0% | — | ||
| Q3 25 | 15.3% | -12.4% | ||
| Q2 25 | 14.9% | -10.6% | ||
| Q1 25 | 14.7% | -6.0% | ||
| Q4 24 | 3.4% | -27.1% | ||
| Q3 24 | 15.5% | -6.2% | ||
| Q2 24 | 20.8% | -1.8% |
| Q1 26 | 17.0% | — | ||
| Q4 25 | 4.3% | — | ||
| Q3 25 | 13.2% | -41.6% | ||
| Q2 25 | 13.6% | -36.9% | ||
| Q1 25 | 14.4% | -32.4% | ||
| Q4 24 | 2.6% | -46.4% | ||
| Q3 24 | 14.5% | -31.2% | ||
| Q2 24 | 13.2% | -25.9% |
| Q1 26 | $0.50 | — | ||
| Q4 25 | $0.10 | — | ||
| Q3 25 | $0.40 | $-3.39 | ||
| Q2 25 | $0.38 | $-3.17 | ||
| Q1 25 | $0.31 | $-2.73 | ||
| Q4 24 | $0.06 | $-4.06 | ||
| Q3 24 | $0.32 | $-2.74 | ||
| Q2 24 | $0.32 | $-2.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $201.9M | — |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $352.2M | $-585.8M |
| Total Assets | $488.3M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $201.9M | — | ||
| Q4 25 | $196.9M | — | ||
| Q3 25 | $203.7M | — | ||
| Q2 25 | $167.0M | — | ||
| Q1 25 | $153.6M | — | ||
| Q4 24 | $164.7M | — | ||
| Q3 24 | $156.7M | — | ||
| Q2 24 | $150.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | $352.2M | — | ||
| Q4 25 | $331.5M | — | ||
| Q3 25 | $323.7M | $-585.8M | ||
| Q2 25 | $296.9M | $-536.5M | ||
| Q1 25 | $277.9M | $-493.9M | ||
| Q4 24 | $258.8M | $-455.7M | ||
| Q3 24 | $252.1M | $-386.1M | ||
| Q2 24 | $232.0M | $-338.6M |
| Q1 26 | $488.3M | — | ||
| Q4 25 | $461.2M | — | ||
| Q3 25 | $461.3M | $1.2B | ||
| Q2 25 | $421.1M | $1.2B | ||
| Q1 25 | $384.0M | $1.3B | ||
| Q4 24 | $362.4M | $1.3B | ||
| Q3 24 | $353.1M | $1.3B | ||
| Q2 24 | $323.0M | $1.4B |
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 | — | $-14.5M |
| Free Cash FlowOCF − Capex | — | $-16.9M |
| FCF MarginFCF / Revenue | — | -12.1% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-75.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-3.9M | — | ||
| Q3 25 | $39.1M | $-14.5M | ||
| Q2 25 | $21.8M | $-26.9M | ||
| Q1 25 | $-9.8M | $-13.2M | ||
| Q4 24 | $6.9M | $-10.4M | ||
| Q3 24 | $9.3M | $-3.2M | ||
| Q2 24 | $26.9M | $-14.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-7.1M | — | ||
| Q3 25 | $35.6M | $-16.9M | ||
| Q2 25 | $20.9M | $-29.3M | ||
| Q1 25 | $-10.4M | $-17.8M | ||
| Q4 24 | $6.8M | $-11.0M | ||
| Q3 24 | $8.9M | $-11.1M | ||
| Q2 24 | $26.6M | $-24.4M |
| Q1 26 | — | — | ||
| Q4 25 | -5.6% | — | ||
| Q3 25 | 19.6% | -12.1% | ||
| Q2 25 | 12.4% | -20.0% | ||
| Q1 25 | -7.9% | -12.5% | ||
| Q4 24 | 5.3% | -7.6% | ||
| Q3 24 | 6.7% | -7.7% | ||
| Q2 24 | 18.5% | -16.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | — | ||
| Q3 25 | 1.9% | 1.7% | ||
| Q2 25 | 0.6% | 1.6% | ||
| Q1 25 | 0.4% | 3.2% | ||
| Q4 24 | 0.1% | 0.4% | ||
| Q3 24 | 0.3% | 5.5% | ||
| Q2 24 | 0.2% | 6.7% |
| Q1 26 | — | — | ||
| Q4 25 | -0.70× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | -0.52× | — | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 1.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COCO
| Subtotal | $148.2M | 82% |
| Private Label | $24.4M | 14% |
| Other | $7.2M | 4% |
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% |
