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Side-by-side financial comparison of Fat Brands, Inc (FAT) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $85.1M, roughly 1.6× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -41.6%, a 64.4% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs -2.3%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-16.9M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
FAT vs FDMT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $85.1M |
| Net Profit | $-58.2M | $19.4M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | 17.3% |
| Net Margin | -41.6% | 22.8% |
| Revenue YoY | -2.3% | 8508900.0% |
| Net Profit YoY | -30.1% | 139.1% |
| EPS (diluted) | $-3.39 | $0.43 |
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 | — | $85.1M | ||
| Q3 25 | $140.0M | $90.0K | ||
| Q2 25 | $146.8M | $15.0K | ||
| Q1 25 | $142.0M | $14.0K | ||
| Q4 24 | $145.3M | $1.0K | ||
| Q3 24 | $143.4M | $3.0K | ||
| Q2 24 | $152.0M | $5.0K | ||
| Q1 24 | $152.0M | $28.0K |
| Q4 25 | — | $19.4M | ||
| Q3 25 | $-58.2M | $-56.9M | ||
| Q2 25 | $-54.2M | $-54.7M | ||
| Q1 25 | $-46.0M | $-48.0M | ||
| Q4 24 | $-67.4M | — | ||
| Q3 24 | $-44.8M | $-43.8M | ||
| Q2 24 | $-39.4M | $-35.0M | ||
| Q1 24 | $-38.3M | $-32.4M |
| Q4 25 | — | 17.3% | ||
| Q3 25 | -12.4% | -67983.3% | ||
| Q2 25 | -10.6% | -396373.3% | ||
| Q1 25 | -6.0% | -383007.1% | ||
| Q4 24 | -27.1% | — | ||
| Q3 24 | -6.2% | -1704400.0% | ||
| Q2 24 | -1.8% | -849120.0% | ||
| Q1 24 | -0.9% | -136200.0% |
| Q4 25 | — | 22.8% | ||
| Q3 25 | -41.6% | -63195.6% | ||
| Q2 25 | -36.9% | -364386.7% | ||
| Q1 25 | -32.4% | -342657.1% | ||
| Q4 24 | -46.4% | — | ||
| Q3 24 | -31.2% | -1461433.3% | ||
| Q2 24 | -25.9% | -699060.0% | ||
| Q1 24 | -25.2% | -115717.9% |
| Q4 25 | — | $0.43 | ||
| Q3 25 | $-3.39 | $-1.01 | ||
| Q2 25 | $-3.17 | $-0.98 | ||
| Q1 25 | $-2.73 | $-0.86 | ||
| Q4 24 | $-4.06 | — | ||
| Q3 24 | $-2.74 | $-0.79 | ||
| Q2 24 | $-2.43 | $-0.63 | ||
| Q1 24 | $-2.37 | $-0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $402.7M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $505.7M |
| Total Assets | $1.2B | $566.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $402.7M | ||
| Q3 25 | — | $305.1M | ||
| Q2 25 | — | $293.2M | ||
| Q1 25 | — | $321.4M | ||
| Q4 24 | — | $424.9M | ||
| Q3 24 | — | $501.9M | ||
| Q2 24 | — | $541.9M | ||
| Q1 24 | — | $525.9M |
| 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 | — | $505.7M | ||
| Q3 25 | $-585.8M | $369.0M | ||
| Q2 25 | $-536.5M | $420.9M | ||
| Q1 25 | $-493.9M | $469.7M | ||
| Q4 24 | $-455.7M | $510.6M | ||
| Q3 24 | $-386.1M | $552.9M | ||
| Q2 24 | $-338.6M | $588.3M | ||
| Q1 24 | $-296.8M | $600.6M |
| Q4 25 | — | $566.7M | ||
| Q3 25 | $1.2B | $424.0M | ||
| Q2 25 | $1.2B | $473.6M | ||
| Q1 25 | $1.3B | $515.7M | ||
| Q4 24 | $1.3B | $560.4M | ||
| Q3 24 | $1.3B | $604.0M | ||
| Q2 24 | $1.4B | $620.1M | ||
| Q1 24 | $1.4B | $629.9M |
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 | $28.6M |
| Free Cash FlowOCF − Capex | $-16.9M | $28.5M |
| FCF MarginFCF / Revenue | -12.1% | 33.5% |
| Capex IntensityCapex / Revenue | 1.7% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $28.6M | ||
| Q3 25 | $-14.5M | $-46.5M | ||
| Q2 25 | $-26.9M | $-43.4M | ||
| Q1 25 | $-13.2M | $-47.8M | ||
| Q4 24 | $-10.4M | $-134.6M | ||
| Q3 24 | $-3.2M | $-29.4M | ||
| Q2 24 | $-14.2M | $-30.2M | ||
| Q1 24 | $-28.4M | $-29.1M |
| Q4 25 | — | $28.5M | ||
| Q3 25 | $-16.9M | $-46.6M | ||
| Q2 25 | $-29.3M | $-43.4M | ||
| Q1 25 | $-17.8M | $-48.4M | ||
| Q4 24 | $-11.0M | $-138.4M | ||
| Q3 24 | $-11.1M | $-31.2M | ||
| Q2 24 | $-24.4M | $-30.6M | ||
| Q1 24 | $-32.5M | $-29.8M |
| Q4 25 | — | 33.5% | ||
| Q3 25 | -12.1% | -51765.6% | ||
| Q2 25 | -20.0% | -289620.0% | ||
| Q1 25 | -12.5% | -345635.7% | ||
| Q4 24 | -7.6% | -13837100.0% | ||
| Q3 24 | -7.7% | -1038966.7% | ||
| Q2 24 | -16.1% | -611840.0% | ||
| Q1 24 | -21.4% | -106421.4% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.7% | 101.1% | ||
| Q2 25 | 1.6% | 440.0% | ||
| Q1 25 | 3.2% | 4507.1% | ||
| Q4 24 | 0.4% | 378600.0% | ||
| Q3 24 | 5.5% | 59266.7% | ||
| Q2 24 | 6.7% | 6980.0% | ||
| Q1 24 | 2.7% | 2535.7% |
| Q4 25 | — | 1.47× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
FDMT
Segment breakdown not available.
