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Side-by-side financial comparison of Fat Brands, Inc (FAT) and FARMERS NATIONAL BANC CORP (FMNB). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $71.5M, roughly 2.0× FARMERS NATIONAL BANC CORP). FARMERS NATIONAL BANC CORP runs the higher net margin — 20.5% vs -41.6%, a 62.0% gap on every dollar of revenue. On growth, FARMERS NATIONAL BANC CORP posted the faster year-over-year revenue change (3.2% vs -2.3%). FARMERS NATIONAL BANC CORP produced more free cash flow last quarter ($52.2M vs $-16.9M). Over the past eight quarters, FARMERS NATIONAL BANC CORP's revenue compounded faster (6.2% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Farmers National Banc Corp (OH) is a regional financial holding company based in Ohio, the United States. It offers full-spectrum retail and commercial banking products, wealth management solutions, and insurance services, primarily catering to individual consumers, small and medium-sized enterprises, and local community clients in Ohio and adjacent Midwestern U.S. regions.
FAT vs FMNB — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $71.5M |
| Net Profit | $-58.2M | $14.6M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | 24.8% |
| Net Margin | -41.6% | 20.5% |
| Revenue YoY | -2.3% | 3.2% |
| Net Profit YoY | -30.1% | 1.7% |
| EPS (diluted) | $-3.39 | $0.39 |
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 | — | $71.5M | ||
| Q3 25 | $140.0M | $70.8M | ||
| Q2 25 | $146.8M | $69.8M | ||
| Q1 25 | $142.0M | $67.8M | ||
| Q4 24 | $145.3M | $69.3M | ||
| Q3 24 | $143.4M | $70.3M | ||
| Q2 24 | $152.0M | $66.5M | ||
| Q1 24 | $152.0M | $63.4M |
| Q4 25 | — | $14.6M | ||
| Q3 25 | $-58.2M | $12.5M | ||
| Q2 25 | $-54.2M | $13.9M | ||
| Q1 25 | $-46.0M | $13.6M | ||
| Q4 24 | $-67.4M | $14.4M | ||
| Q3 24 | $-44.8M | $8.5M | ||
| Q2 24 | $-39.4M | $11.8M | ||
| Q1 24 | $-38.3M | $11.2M |
| Q4 25 | — | 24.8% | ||
| Q3 25 | -12.4% | 20.7% | ||
| Q2 25 | -10.6% | 23.4% | ||
| Q1 25 | -6.0% | 24.1% | ||
| Q4 24 | -27.1% | 25.5% | ||
| Q3 24 | -6.2% | 14.4% | ||
| Q2 24 | -1.8% | 21.3% | ||
| Q1 24 | -0.9% | 21.2% |
| Q4 25 | — | 20.5% | ||
| Q3 25 | -41.6% | 17.6% | ||
| Q2 25 | -36.9% | 19.9% | ||
| Q1 25 | -32.4% | 20.0% | ||
| Q4 24 | -46.4% | 20.8% | ||
| Q3 24 | -31.2% | 12.1% | ||
| Q2 24 | -25.9% | 17.7% | ||
| Q1 24 | -25.2% | 17.7% |
| Q4 25 | — | $0.39 | ||
| Q3 25 | $-3.39 | $0.33 | ||
| Q2 25 | $-3.17 | $0.37 | ||
| Q1 25 | $-2.73 | $0.36 | ||
| Q4 24 | $-4.06 | $0.38 | ||
| Q3 24 | $-2.74 | $0.23 | ||
| Q2 24 | $-2.43 | $0.31 | ||
| Q1 24 | $-2.37 | $0.30 |
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 | $86.7M |
| Stockholders' EquityBook value | $-585.8M | $485.7M |
| Total Assets | $1.2B | $5.2B |
| Debt / EquityLower = less leverage | — | 0.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $86.7M | ||
| Q3 25 | $1.3B | $86.6M | ||
| Q2 25 | $1.3B | $86.4M | ||
| Q1 25 | $1.3B | $86.3M | ||
| Q4 24 | $1.3B | $86.2M | ||
| Q3 24 | $1.2B | $86.0M | ||
| Q2 24 | $1.2B | $88.9M | ||
| Q1 24 | $1.2B | $88.8M |
| Q4 25 | — | $485.7M | ||
| Q3 25 | $-585.8M | $465.9M | ||
| Q2 25 | $-536.5M | $437.7M | ||
| Q1 25 | $-493.9M | $429.1M | ||
| Q4 24 | $-455.7M | $406.0M | ||
| Q3 24 | $-386.1M | $439.7M | ||
| Q2 24 | $-338.6M | $396.7M | ||
| Q1 24 | $-296.8M | $397.0M |
| Q4 25 | — | $5.2B | ||
| Q3 25 | $1.2B | $5.2B | ||
| Q2 25 | $1.2B | $5.2B | ||
| Q1 25 | $1.3B | $5.2B | ||
| Q4 24 | $1.3B | $5.1B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $1.4B | $5.2B | ||
| Q1 24 | $1.4B | $5.1B |
| Q4 25 | — | 0.18× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.22× | ||
| Q1 24 | — | 0.22× |
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 | $60.0M |
| Free Cash FlowOCF − Capex | $-16.9M | $52.2M |
| FCF MarginFCF / Revenue | -12.1% | 73.0% |
| Capex IntensityCapex / Revenue | 1.7% | 11.0% |
| Cash ConversionOCF / Net Profit | — | 4.10× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $85.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $60.0M | ||
| Q3 25 | $-14.5M | $10.7M | ||
| Q2 25 | $-26.9M | $14.0M | ||
| Q1 25 | $-13.2M | $15.7M | ||
| Q4 24 | $-10.4M | $66.6M | ||
| Q3 24 | $-3.2M | $23.9M | ||
| Q2 24 | $-14.2M | $16.6M | ||
| Q1 24 | $-28.4M | $13.7M |
| Q4 25 | — | $52.2M | ||
| Q3 25 | $-16.9M | $9.0M | ||
| Q2 25 | $-29.3M | $12.4M | ||
| Q1 25 | $-17.8M | $12.2M | ||
| Q4 24 | $-11.0M | $54.9M | ||
| Q3 24 | $-11.1M | $20.4M | ||
| Q2 24 | $-24.4M | $14.4M | ||
| Q1 24 | $-32.5M | $12.2M |
| Q4 25 | — | 73.0% | ||
| Q3 25 | -12.1% | 12.8% | ||
| Q2 25 | -20.0% | 17.8% | ||
| Q1 25 | -12.5% | 18.0% | ||
| Q4 24 | -7.6% | 79.2% | ||
| Q3 24 | -7.7% | 29.1% | ||
| Q2 24 | -16.1% | 21.6% | ||
| Q1 24 | -21.4% | 19.2% |
| Q4 25 | — | 11.0% | ||
| Q3 25 | 1.7% | 2.4% | ||
| Q2 25 | 1.6% | 2.3% | ||
| Q1 25 | 3.2% | 5.2% | ||
| Q4 24 | 0.4% | 16.9% | ||
| Q3 24 | 5.5% | 4.9% | ||
| Q2 24 | 6.7% | 3.3% | ||
| Q1 24 | 2.7% | 2.4% |
| Q4 25 | — | 4.10× | ||
| Q3 25 | — | 0.86× | ||
| Q2 25 | — | 1.01× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 4.63× | ||
| Q3 24 | — | 2.80× | ||
| Q2 24 | — | 1.41× | ||
| Q1 24 | — | 1.22× |
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% |
FMNB
Segment breakdown not available.
