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Side-by-side financial comparison of Dine Brands Global, Inc. (DIN) and Fat Brands, Inc (FAT). Click either name above to swap in a different company.
Dine Brands Global, Inc. is the larger business by last-quarter revenue ($217.6M vs $140.0M, roughly 1.6× Fat Brands, Inc). Dine Brands Global, Inc. runs the higher net margin — -5.6% vs -41.6%, a 36.0% gap on every dollar of revenue. On growth, Dine Brands Global, Inc. posted the faster year-over-year revenue change (6.3% vs -2.3%). Dine Brands Global, Inc. produced more free cash flow last quarter ($-8.6M vs $-16.9M). Over the past eight quarters, Dine Brands Global, Inc.'s revenue compounded faster (2.7% CAGR vs -6.1%).
Dine Brands Global Inc. is a publicly traded food and beverage company based in Pasadena, California. Founded in 1958 as IHOP, it operates franchised and corporate owned full-service restaurants including three restaurant concepts, Applebee's Neighborhood Grill & Bar, International House of Pancakes (IHOP), and Fuzzy's Taco Shop.
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
DIN vs FAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $217.6M | $140.0M |
| Net Profit | $-12.2M | $-58.2M |
| Gross Margin | 42.4% | — |
| Operating Margin | -7.6% | -12.4% |
| Net Margin | -5.6% | -41.6% |
| Revenue YoY | 6.3% | -2.3% |
| Net Profit YoY | -336.1% | -30.1% |
| EPS (diluted) | $-0.79 | $-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 | $217.6M | — | ||
| Q3 25 | $216.2M | $140.0M | ||
| Q2 25 | $230.8M | $146.8M | ||
| Q1 25 | $214.8M | $142.0M | ||
| Q4 24 | $204.8M | $145.3M | ||
| Q3 24 | $195.0M | $143.4M | ||
| Q2 24 | $206.3M | $152.0M | ||
| Q1 24 | $206.2M | $152.0M |
| Q4 25 | $-12.2M | — | ||
| Q3 25 | $7.3M | $-58.2M | ||
| Q2 25 | $13.8M | $-54.2M | ||
| Q1 25 | $8.2M | $-46.0M | ||
| Q4 24 | $5.2M | $-67.4M | ||
| Q3 24 | $19.1M | $-44.8M | ||
| Q2 24 | $23.2M | $-39.4M | ||
| Q1 24 | $17.5M | $-38.3M |
| Q4 25 | 42.4% | — | ||
| Q3 25 | 39.1% | — | ||
| Q2 25 | 40.0% | — | ||
| Q1 25 | 42.0% | — | ||
| Q4 24 | 41.7% | — | ||
| Q3 24 | 47.8% | — | ||
| Q2 24 | 48.1% | — | ||
| Q1 24 | 47.2% | — |
| Q4 25 | -7.6% | — | ||
| Q3 25 | 4.7% | -12.4% | ||
| Q2 25 | 8.2% | -10.6% | ||
| Q1 25 | 6.0% | -6.0% | ||
| Q4 24 | 3.8% | -27.1% | ||
| Q3 24 | 13.6% | -6.2% | ||
| Q2 24 | 15.1% | -1.8% | ||
| Q1 24 | 11.7% | -0.9% |
| Q4 25 | -5.6% | — | ||
| Q3 25 | 3.4% | -41.6% | ||
| Q2 25 | 6.0% | -36.9% | ||
| Q1 25 | 3.8% | -32.4% | ||
| Q4 24 | 2.5% | -46.4% | ||
| Q3 24 | 9.8% | -31.2% | ||
| Q2 24 | 11.2% | -25.9% | ||
| Q1 24 | 8.5% | -25.2% |
| Q4 25 | $-0.79 | — | ||
| Q3 25 | $0.48 | $-3.39 | ||
| Q2 25 | $0.89 | $-3.17 | ||
| Q1 25 | $0.53 | $-2.73 | ||
| Q4 24 | $0.35 | $-4.06 | ||
| Q3 24 | $1.24 | $-2.74 | ||
| Q2 24 | $1.50 | $-2.43 | ||
| Q1 24 | $1.13 | $-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 | $128.2M | — |
| Total DebtLower is stronger | $1.2B | $1.3B |
| Stockholders' EquityBook value | $-273.9M | $-585.8M |
| Total Assets | $1.7B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.2M | — | ||
| Q3 25 | $167.9M | — | ||
| Q2 25 | $194.2M | — | ||
| Q1 25 | $186.5M | — | ||
| Q4 24 | $186.7M | — | ||
| Q3 24 | $169.6M | — | ||
| Q2 24 | $153.5M | — | ||
| Q1 24 | $145.0M | — |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
| Q4 25 | $-273.9M | — | ||
| Q3 25 | $-231.9M | $-585.8M | ||
| Q2 25 | $-212.5M | $-536.5M | ||
| Q1 25 | $-215.7M | $-493.9M | ||
| Q4 24 | $-216.0M | $-455.7M | ||
| Q3 24 | $-216.7M | $-386.1M | ||
| Q2 24 | $-231.7M | $-338.6M | ||
| Q1 24 | $-244.8M | $-296.8M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.7B | $1.3B | ||
| Q2 24 | $1.7B | $1.4B | ||
| Q1 24 | $1.7B | $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 | $5.7M | $-14.5M |
| Free Cash FlowOCF − Capex | $-8.6M | $-16.9M |
| FCF MarginFCF / Revenue | -3.9% | -12.1% |
| Capex IntensityCapex / Revenue | 6.6% | 1.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $53.4M | $-75.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.7M | — | ||
| Q3 25 | $30.2M | $-14.5M | ||
| Q2 25 | $37.0M | $-26.9M | ||
| Q1 25 | $16.1M | $-13.2M | ||
| Q4 24 | $30.5M | $-10.4M | ||
| Q3 24 | $25.5M | $-3.2M | ||
| Q2 24 | $21.6M | $-14.2M | ||
| Q1 24 | $30.6M | $-28.4M |
| Q4 25 | $-8.6M | — | ||
| Q3 25 | $18.1M | $-16.9M | ||
| Q2 25 | $31.0M | $-29.3M | ||
| Q1 25 | $12.8M | $-17.8M | ||
| Q4 24 | $26.7M | $-11.0M | ||
| Q3 24 | $22.0M | $-11.1M | ||
| Q2 24 | $18.2M | $-24.4M | ||
| Q1 24 | $27.2M | $-32.5M |
| Q4 25 | -3.9% | — | ||
| Q3 25 | 8.4% | -12.1% | ||
| Q2 25 | 13.4% | -20.0% | ||
| Q1 25 | 6.0% | -12.5% | ||
| Q4 24 | 13.0% | -7.6% | ||
| Q3 24 | 11.3% | -7.7% | ||
| Q2 24 | 8.8% | -16.1% | ||
| Q1 24 | 13.2% | -21.4% |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 5.6% | 1.7% | ||
| Q2 25 | 2.6% | 1.6% | ||
| Q1 25 | 1.5% | 3.2% | ||
| Q4 24 | 1.9% | 0.4% | ||
| Q3 24 | 1.8% | 5.5% | ||
| Q2 24 | 1.7% | 6.7% | ||
| Q1 24 | 1.6% | 2.7% |
| Q4 25 | — | — | ||
| Q3 25 | 4.12× | — | ||
| Q2 25 | 2.68× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 5.88× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 0.93× | — | ||
| Q1 24 | 1.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DIN
| Franchisor | $163.2M | 75% |
| Food And Beverage | $27.3M | 13% |
| Proprietary Product Sales And Other | $17.0M | 8% |
| Other | $8.1M | 4% |
| Franchise And Development Fees | $2.0M | 1% |
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% |
