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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $140.0M, roughly 1.9× Fat Brands, Inc). Forestar Group Inc. runs the higher net margin — 5.6% vs -41.6%, a 47.2% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs -2.3%). Fat Brands, Inc produced more free cash flow last quarter ($-16.9M vs $-157.1M). Over the past eight quarters, Fat Brands, Inc's revenue compounded faster (-6.1% CAGR vs -9.6%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
FAT vs FOR — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $273.0M |
| Net Profit | $-58.2M | $15.4M |
| Gross Margin | — | 20.1% |
| Operating Margin | -12.4% | 7.6% |
| Net Margin | -41.6% | 5.6% |
| Revenue YoY | -2.3% | 9.0% |
| Net Profit YoY | -30.1% | -6.7% |
| EPS (diluted) | $-3.39 | $0.30 |
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 | — | $273.0M | ||
| Q3 25 | $140.0M | $670.5M | ||
| Q2 25 | $146.8M | $390.5M | ||
| Q1 25 | $142.0M | $351.0M | ||
| Q4 24 | $145.3M | $250.4M | ||
| Q3 24 | $143.4M | $551.3M | ||
| Q2 24 | $152.0M | $318.4M | ||
| Q1 24 | $152.0M | $333.8M |
| Q4 25 | — | $15.4M | ||
| Q3 25 | $-58.2M | $86.9M | ||
| Q2 25 | $-54.2M | $32.9M | ||
| Q1 25 | $-46.0M | $31.6M | ||
| Q4 24 | $-67.4M | $16.5M | ||
| Q3 24 | $-44.8M | $81.5M | ||
| Q2 24 | $-39.4M | $38.7M | ||
| Q1 24 | $-38.3M | $45.0M |
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 24.9% |
| Q4 25 | — | 7.6% | ||
| Q3 25 | -12.4% | 16.9% | ||
| Q2 25 | -10.6% | 11.2% | ||
| Q1 25 | -6.0% | 11.6% | ||
| Q4 24 | -27.1% | 8.7% | ||
| Q3 24 | -6.2% | 19.7% | ||
| Q2 24 | -1.8% | 16.2% | ||
| Q1 24 | -0.9% | 17.6% |
| Q4 25 | — | 5.6% | ||
| Q3 25 | -41.6% | 13.0% | ||
| Q2 25 | -36.9% | 8.4% | ||
| Q1 25 | -32.4% | 9.0% | ||
| Q4 24 | -46.4% | 6.6% | ||
| Q3 24 | -31.2% | 14.8% | ||
| Q2 24 | -25.9% | 12.2% | ||
| Q1 24 | -25.2% | 13.5% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | $-3.39 | $1.70 | ||
| Q2 25 | $-3.17 | $0.65 | ||
| Q1 25 | $-2.73 | $0.62 | ||
| Q4 24 | $-4.06 | $0.32 | ||
| Q3 24 | $-2.74 | $1.59 | ||
| Q2 24 | $-2.43 | $0.76 | ||
| Q1 24 | $-2.37 | $0.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $211.7M |
| Total DebtLower is stronger | $1.3B | $793.2M |
| Stockholders' EquityBook value | $-585.8M | $1.8B |
| Total Assets | $1.2B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $211.7M | ||
| Q3 25 | — | $379.2M | ||
| Q2 25 | — | $189.2M | ||
| Q1 25 | — | $174.3M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | — | $481.2M | ||
| Q2 24 | — | $359.2M | ||
| Q1 24 | — | $416.2M |
| Q4 25 | — | $793.2M | ||
| Q3 25 | $1.3B | $802.7M | ||
| Q2 25 | $1.3B | $872.8M | ||
| Q1 25 | $1.3B | $872.5M | ||
| Q4 24 | $1.3B | $806.8M | ||
| Q3 24 | $1.2B | $706.4M | ||
| Q2 24 | $1.2B | $706.1M | ||
| Q1 24 | $1.2B | $705.7M |
| Q4 25 | — | $1.8B | ||
| Q3 25 | $-585.8M | $1.8B | ||
| Q2 25 | $-536.5M | $1.7B | ||
| Q1 25 | $-493.9M | $1.6B | ||
| Q4 24 | $-455.7M | $1.6B | ||
| Q3 24 | $-386.1M | $1.6B | ||
| Q2 24 | $-338.6M | $1.5B | ||
| Q1 24 | $-296.8M | $1.5B |
| Q4 25 | — | $3.2B | ||
| Q3 25 | $1.2B | $3.1B | ||
| Q2 25 | $1.2B | $3.1B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $1.3B | $3.0B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.4B | $2.7B | ||
| Q1 24 | $1.4B | $2.6B |
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.48× |
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 | $-157.0M |
| Free Cash FlowOCF − Capex | $-16.9M | $-157.1M |
| FCF MarginFCF / Revenue | -12.1% | -57.5% |
| Capex IntensityCapex / Revenue | 1.7% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-157.0M | ||
| Q3 25 | $-14.5M | $256.3M | ||
| Q2 25 | $-26.9M | $15.8M | ||
| Q1 25 | $-13.2M | $-19.8M | ||
| Q4 24 | $-10.4M | $-450.0M | ||
| Q3 24 | $-3.2M | $119.2M | ||
| Q2 24 | $-14.2M | $-61.7M | ||
| Q1 24 | $-28.4M | $-59.2M |
| Q4 25 | — | $-157.1M | ||
| Q3 25 | $-16.9M | $255.6M | ||
| Q2 25 | $-29.3M | $15.0M | ||
| Q1 25 | $-17.8M | $-20.5M | ||
| Q4 24 | $-11.0M | — | ||
| Q3 24 | $-11.1M | $118.4M | ||
| Q2 24 | $-24.4M | $-62.3M | ||
| Q1 24 | $-32.5M | $-59.8M |
| Q4 25 | — | -57.5% | ||
| Q3 25 | -12.1% | 38.1% | ||
| Q2 25 | -20.0% | 3.8% | ||
| Q1 25 | -12.5% | -5.8% | ||
| Q4 24 | -7.6% | — | ||
| Q3 24 | -7.7% | 21.5% | ||
| Q2 24 | -16.1% | -19.6% | ||
| Q1 24 | -21.4% | -17.9% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 1.7% | 0.1% | ||
| Q2 25 | 1.6% | 0.2% | ||
| Q1 25 | 3.2% | 0.2% | ||
| Q4 24 | 0.4% | 0.0% | ||
| Q3 24 | 5.5% | 0.1% | ||
| Q2 24 | 6.7% | 0.2% | ||
| Q1 24 | 2.7% | 0.2% |
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | — | -1.32× |
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
