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Side-by-side financial comparison of Ellington Financial Inc. (EFC) 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 $78.2M, roughly 1.8× Ellington Financial Inc.). Ellington Financial Inc. runs the higher net margin — 28.9% vs -41.6%, a 70.5% gap on every dollar of revenue. On growth, Ellington Financial Inc. posted the faster year-over-year revenue change (8.7% vs -2.3%). Over the past eight quarters, Ellington Financial Inc.'s revenue compounded faster (1.8% CAGR vs -6.1%).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
EFC vs FAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $140.0M |
| Net Profit | $22.6M | $-58.2M |
| Gross Margin | — | — |
| Operating Margin | 7.4% | -12.4% |
| Net Margin | 28.9% | -41.6% |
| Revenue YoY | 8.7% | -2.3% |
| Net Profit YoY | -26.2% | -30.1% |
| EPS (diluted) | $0.10 | $-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 | $78.2M | — | ||
| Q3 25 | $82.8M | $140.0M | ||
| Q2 25 | $92.5M | $146.8M | ||
| Q1 25 | $82.9M | $142.0M | ||
| Q4 24 | $72.0M | $145.3M | ||
| Q3 24 | $67.0M | $143.4M | ||
| Q2 24 | $91.2M | $152.0M | ||
| Q1 24 | $75.5M | $152.0M |
| Q4 25 | $22.6M | — | ||
| Q3 25 | $29.5M | $-58.2M | ||
| Q2 25 | $42.9M | $-54.2M | ||
| Q1 25 | $31.6M | $-46.0M | ||
| Q4 24 | $30.7M | $-67.4M | ||
| Q3 24 | $16.2M | $-44.8M | ||
| Q2 24 | $52.3M | $-39.4M | ||
| Q1 24 | $26.9M | $-38.3M |
| Q4 25 | 7.4% | — | ||
| Q3 25 | 31.1% | -12.4% | ||
| Q2 25 | 38.3% | -10.6% | ||
| Q1 25 | 37.3% | -6.0% | ||
| Q4 24 | 28.0% | -27.1% | ||
| Q3 24 | 24.0% | -6.2% | ||
| Q2 24 | 52.8% | -1.8% | ||
| Q1 24 | 42.2% | -0.9% |
| Q4 25 | 28.9% | — | ||
| Q3 25 | 35.7% | -41.6% | ||
| Q2 25 | 46.4% | -36.9% | ||
| Q1 25 | 38.2% | -32.4% | ||
| Q4 24 | 42.6% | -46.4% | ||
| Q3 24 | 24.1% | -31.2% | ||
| Q2 24 | 57.4% | -25.9% | ||
| Q1 24 | 35.6% | -25.2% |
| Q4 25 | $0.10 | — | ||
| Q3 25 | $0.29 | $-3.39 | ||
| Q2 25 | $0.45 | $-3.17 | ||
| Q1 25 | $0.35 | $-2.73 | ||
| Q4 24 | $0.23 | $-4.06 | ||
| Q3 24 | $0.19 | $-2.74 | ||
| Q2 24 | $0.62 | $-2.43 | ||
| Q1 24 | $0.32 | $-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 | $201.9M | — |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $1.8B | $-585.8M |
| Total Assets | $19.4B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | — | ||
| Q3 25 | $184.8M | — | ||
| Q2 25 | $211.0M | — | ||
| Q1 25 | $203.3M | — | ||
| Q4 24 | $192.4M | — | ||
| Q3 24 | $217.7M | — | ||
| Q2 24 | $198.5M | — | ||
| Q1 24 | $187.5M | — |
| 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 24 | — | $1.2B |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $-585.8M | ||
| Q2 25 | $1.7B | $-536.5M | ||
| Q1 25 | $1.6B | $-493.9M | ||
| Q4 24 | $1.6B | $-455.7M | ||
| Q3 24 | $1.6B | $-386.1M | ||
| Q2 24 | $1.6B | $-338.6M | ||
| Q1 24 | $1.5B | $-296.8M |
| Q4 25 | $19.4B | — | ||
| Q3 25 | $17.8B | $1.2B | ||
| Q2 25 | $17.1B | $1.2B | ||
| Q1 25 | $16.6B | $1.3B | ||
| Q4 24 | $16.3B | $1.3B | ||
| Q3 24 | $16.0B | $1.3B | ||
| Q2 24 | $15.1B | $1.4B | ||
| Q1 24 | $15.1B | $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 | $-925.5M | $-14.5M |
| Free Cash FlowOCF − Capex | — | $-16.9M |
| FCF MarginFCF / Revenue | — | -12.1% |
| Capex IntensityCapex / Revenue | 0.0% | 1.7% |
| Cash ConversionOCF / Net Profit | -40.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-75.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | — | ||
| Q3 25 | $-290.4M | $-14.5M | ||
| Q2 25 | $-210.5M | $-26.9M | ||
| Q1 25 | $-126.4M | $-13.2M | ||
| Q4 24 | $-430.5M | $-10.4M | ||
| Q3 24 | $-141.7M | $-3.2M | ||
| Q2 24 | $-88.6M | $-14.2M | ||
| Q1 24 | $-59.5M | $-28.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-16.9M | ||
| Q2 25 | — | $-29.3M | ||
| Q1 25 | — | $-17.8M | ||
| Q4 24 | — | $-11.0M | ||
| Q3 24 | — | $-11.1M | ||
| Q2 24 | — | $-24.4M | ||
| Q1 24 | — | $-32.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | -12.1% | ||
| Q2 25 | — | -20.0% | ||
| Q1 25 | — | -12.5% | ||
| Q4 24 | — | -7.6% | ||
| Q3 24 | — | -7.7% | ||
| Q2 24 | — | -16.1% | ||
| Q1 24 | — | -21.4% |
| Q4 25 | 0.0% | — | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 0.0% | 0.4% | ||
| Q3 24 | 0.0% | 5.5% | ||
| Q2 24 | 0.0% | 6.7% | ||
| Q1 24 | 0.0% | 2.7% |
| Q4 25 | -40.92× | — | ||
| Q3 25 | -9.84× | — | ||
| Q2 25 | -4.90× | — | ||
| Q1 25 | -3.99× | — | ||
| Q4 24 | -14.04× | — | ||
| Q3 24 | -8.76× | — | ||
| Q2 24 | -1.69× | — | ||
| Q1 24 | -2.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
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% |
