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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Four Corners Property Trust, Inc. (FCPT). 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× Four Corners Property Trust, Inc.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs -41.6%, a 80.4% gap on every dollar of revenue. On growth, Four Corners Property Trust, Inc. posted the faster year-over-year revenue change (9.4% vs -2.3%). Over the past eight quarters, Four Corners Property Trust, Inc.'s revenue compounded faster (8.4% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
FAT vs FCPT — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $78.2M |
| Net Profit | $-58.2M | $30.4M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | 55.3% |
| Net Margin | -41.6% | 38.8% |
| Revenue YoY | -2.3% | 9.4% |
| Net Profit YoY | -30.1% | 16.0% |
| EPS (diluted) | $-3.39 | $0.28 |
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 | — | $78.2M | ||
| Q4 25 | — | $75.7M | ||
| Q3 25 | $140.0M | $74.1M | ||
| Q2 25 | $146.8M | $72.8M | ||
| Q1 25 | $142.0M | $71.5M | ||
| Q4 24 | $145.3M | $68.3M | ||
| Q3 24 | $143.4M | $66.8M | ||
| Q2 24 | $152.0M | $66.5M |
| Q1 26 | — | $30.4M | ||
| Q4 25 | — | $29.4M | ||
| Q3 25 | $-58.2M | $28.8M | ||
| Q2 25 | $-54.2M | $27.9M | ||
| Q1 25 | $-46.0M | $26.2M | ||
| Q4 24 | $-67.4M | $26.2M | ||
| Q3 24 | $-44.8M | $25.6M | ||
| Q2 24 | $-39.4M | $24.7M |
| Q1 26 | — | 55.3% | ||
| Q4 25 | — | — | ||
| Q3 25 | -12.4% | — | ||
| Q2 25 | -10.6% | — | ||
| Q1 25 | -6.0% | — | ||
| Q4 24 | -27.1% | — | ||
| Q3 24 | -6.2% | — | ||
| Q2 24 | -1.8% | — |
| Q1 26 | — | 38.8% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | -41.6% | 38.9% | ||
| Q2 25 | -36.9% | 38.3% | ||
| Q1 25 | -32.4% | 36.6% | ||
| Q4 24 | -46.4% | 38.3% | ||
| Q3 24 | -31.2% | 38.3% | ||
| Q2 24 | -25.9% | 37.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | — | $0.27 | ||
| Q3 25 | $-3.39 | $0.28 | ||
| Q2 25 | $-3.17 | $0.28 | ||
| Q1 25 | $-2.73 | $0.26 | ||
| Q4 24 | $-4.06 | $0.27 | ||
| Q3 24 | $-2.74 | $0.27 | ||
| Q2 24 | $-2.43 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $29.6M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $1.7B |
| Total Assets | $1.2B | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.6M | ||
| Q4 25 | — | $12.1M | ||
| Q3 25 | — | $6.7M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $22.3M | ||
| Q4 24 | — | $4.1M | ||
| Q3 24 | — | $44.5M | ||
| Q2 24 | — | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.2B |
| Q1 26 | — | $1.7B | ||
| 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 | $1.5B | ||
| Q3 24 | $-386.1M | $1.4B | ||
| Q2 24 | $-338.6M | $1.3B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.2B | $2.8B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.3B | $2.7B | ||
| Q4 24 | $1.3B | $2.7B | ||
| Q3 24 | $1.3B | $2.6B | ||
| Q2 24 | $1.4B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.79× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.84× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.92× |
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 | — | $192.3M | ||
| Q3 25 | $-14.5M | $48.9M | ||
| Q2 25 | $-26.9M | $43.8M | ||
| Q1 25 | $-13.2M | $51.6M | ||
| Q4 24 | $-10.4M | $144.1M | ||
| Q3 24 | $-3.2M | $43.4M | ||
| Q2 24 | $-14.2M | $39.7M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 3.2% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 6.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.53× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 5.51× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.61× |
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% |
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
