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Side-by-side financial comparison of Fat Brands, Inc (FAT) and FIRST COMMONWEALTH FINANCIAL CORP (FCF). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $133.7M, roughly 1.0× FIRST COMMONWEALTH FINANCIAL CORP). FIRST COMMONWEALTH FINANCIAL CORP runs the higher net margin — 28.1% vs -41.6%, a 69.7% gap on every dollar of revenue. On growth, FIRST COMMONWEALTH FINANCIAL CORP posted the faster year-over-year revenue change (13.0% vs -2.3%). Over the past eight quarters, FIRST COMMONWEALTH FINANCIAL CORP's revenue compounded faster (5.5% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
First Commonwealth Financial Corp is a Pennsylvania-based regional financial services holding company. It offers consumer and commercial banking products, loans, wealth management, and insurance services for individuals, small and mid-sized enterprises across central and western Pennsylvania and Ohio.
FAT vs FCF — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $133.7M |
| Net Profit | $-58.2M | $37.5M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | — |
| Net Margin | -41.6% | 28.1% |
| Revenue YoY | -2.3% | 13.0% |
| Net Profit YoY | -30.1% | 14.8% |
| EPS (diluted) | $-3.39 | $0.37 |
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 | — | $133.7M | ||
| Q4 25 | — | $137.9M | ||
| Q3 25 | $140.0M | $136.0M | ||
| Q2 25 | $146.8M | $131.0M | ||
| Q1 25 | $142.0M | $118.0M | ||
| Q4 24 | $145.3M | $120.4M | ||
| Q3 24 | $143.4M | $121.2M | ||
| Q2 24 | $152.0M | $120.2M |
| Q1 26 | — | $37.5M | ||
| Q4 25 | — | $44.9M | ||
| Q3 25 | $-58.2M | $41.3M | ||
| Q2 25 | $-54.2M | $33.4M | ||
| Q1 25 | $-46.0M | $32.7M | ||
| Q4 24 | $-67.4M | $35.8M | ||
| Q3 24 | $-44.8M | $32.1M | ||
| Q2 24 | $-39.4M | $37.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 40.9% | ||
| Q3 25 | -12.4% | 38.1% | ||
| Q2 25 | -10.6% | 32.1% | ||
| Q1 25 | -6.0% | 34.8% | ||
| Q4 24 | -27.1% | 37.1% | ||
| Q3 24 | -6.2% | 33.4% | ||
| Q2 24 | -1.8% | 38.7% |
| Q1 26 | — | 28.1% | ||
| Q4 25 | — | 32.5% | ||
| Q3 25 | -41.6% | 30.4% | ||
| Q2 25 | -36.9% | 25.5% | ||
| Q1 25 | -32.4% | 27.7% | ||
| Q4 24 | -46.4% | 29.8% | ||
| Q3 24 | -31.2% | 26.5% | ||
| Q2 24 | -25.9% | 30.9% |
| Q1 26 | — | $0.37 | ||
| Q4 25 | — | $0.44 | ||
| Q3 25 | $-3.39 | $0.39 | ||
| Q2 25 | $-3.17 | $0.32 | ||
| Q1 25 | $-2.73 | $0.32 | ||
| Q4 24 | $-4.06 | $0.35 | ||
| Q3 24 | $-2.74 | $0.31 | ||
| Q2 24 | $-2.43 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $1.3B | $154.9M |
| Stockholders' EquityBook value | $-585.8M | $1.6B |
| Total Assets | $1.2B | $12.3B |
| Debt / EquityLower = less leverage | — | 0.10× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $154.9M | ||
| Q4 25 | — | $261.7M | ||
| Q3 25 | $1.3B | $262.1M | ||
| Q2 25 | $1.3B | $262.4M | ||
| Q1 25 | $1.3B | $262.7M | ||
| Q4 24 | $1.3B | $263.0M | ||
| Q3 24 | $1.2B | $136.3M | ||
| Q2 24 | $1.2B | $136.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $-585.8M | $1.5B | ||
| Q2 25 | $-536.5M | $1.5B | ||
| Q1 25 | $-493.9M | $1.4B | ||
| Q4 24 | $-455.7M | $1.4B | ||
| Q3 24 | $-386.1M | $1.4B | ||
| Q2 24 | $-338.6M | $1.4B |
| Q1 26 | — | $12.3B | ||
| Q4 25 | — | $12.3B | ||
| Q3 25 | $1.2B | $12.3B | ||
| Q2 25 | $1.2B | $12.2B | ||
| Q1 25 | $1.3B | $11.8B | ||
| Q4 24 | $1.3B | $11.6B | ||
| Q3 24 | $1.3B | $12.0B | ||
| Q2 24 | $1.4B | $11.6B |
| Q1 26 | — | 0.10× | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | 0.10× |
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 | — | $187.5M | ||
| Q3 25 | $-14.5M | $49.5M | ||
| Q2 25 | $-26.9M | $30.4M | ||
| Q1 25 | $-13.2M | $55.9M | ||
| Q4 24 | $-10.4M | $129.5M | ||
| Q3 24 | $-3.2M | $53.6M | ||
| Q2 24 | $-14.2M | $22.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $171.5M | ||
| Q3 25 | $-16.9M | — | ||
| Q2 25 | $-29.3M | — | ||
| Q1 25 | $-17.8M | — | ||
| Q4 24 | $-11.0M | $113.9M | ||
| Q3 24 | $-11.1M | — | ||
| Q2 24 | $-24.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 124.3% | ||
| Q3 25 | -12.1% | — | ||
| Q2 25 | -20.0% | — | ||
| Q1 25 | -12.5% | — | ||
| Q4 24 | -7.6% | 94.6% | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -16.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 3.2% | — | ||
| Q4 24 | 0.4% | 12.9% | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 6.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.18× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 1.71× | ||
| Q4 24 | — | 3.61× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
FCF
Segment breakdown not available.
