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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Hippo Holdings Inc. (HIPO). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $120.4M, roughly 1.2× Hippo Holdings Inc.). Hippo Holdings Inc. runs the higher net margin — 5.0% vs -41.6%, a 46.6% gap on every dollar of revenue. On growth, Hippo Holdings Inc. posted the faster year-over-year revenue change (18.2% vs -2.3%). Hippo Holdings Inc. produced more free cash flow last quarter ($9.1M vs $-16.9M). Over the past eight quarters, Hippo Holdings Inc.'s revenue compounded faster (18.9% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Hippo Valley Estate is a sugar estate found near the town of Chiredzi in Chiredzi District of southeastern Zimbabwe, on the Runde River near the border with Mozambique.
FAT vs HIPO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $120.4M |
| Net Profit | $-58.2M | $6.0M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | 5.6% |
| Net Margin | -41.6% | 5.0% |
| Revenue YoY | -2.3% | 18.2% |
| Net Profit YoY | -30.1% | -86.4% |
| EPS (diluted) | $-3.39 | $0.31 |
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 | — | $120.4M | ||
| Q3 25 | $140.0M | $120.6M | ||
| Q2 25 | $146.8M | $117.3M | ||
| Q1 25 | $142.0M | $110.3M | ||
| Q4 24 | $145.3M | $101.9M | ||
| Q3 24 | $143.4M | $95.5M | ||
| Q2 24 | $152.0M | $89.6M | ||
| Q1 24 | $152.0M | $85.1M |
| Q4 25 | — | $6.0M | ||
| Q3 25 | $-58.2M | $98.1M | ||
| Q2 25 | $-54.2M | $1.3M | ||
| Q1 25 | $-46.0M | $-47.7M | ||
| Q4 24 | $-67.4M | $44.2M | ||
| Q3 24 | $-44.8M | $-8.5M | ||
| Q2 24 | $-39.4M | $-40.5M | ||
| Q1 24 | $-38.3M | $-35.7M |
| Q4 25 | — | 5.6% | ||
| Q3 25 | -12.4% | 81.3% | ||
| Q2 25 | -10.6% | 3.4% | ||
| Q1 25 | -6.0% | -41.3% | ||
| Q4 24 | -27.1% | 46.3% | ||
| Q3 24 | -6.2% | -5.4% | ||
| Q2 24 | -1.8% | -40.7% | ||
| Q1 24 | -0.9% | -38.7% |
| Q4 25 | — | 5.0% | ||
| Q3 25 | -41.6% | 81.3% | ||
| Q2 25 | -36.9% | 1.1% | ||
| Q1 25 | -32.4% | -43.2% | ||
| Q4 24 | -46.4% | 43.4% | ||
| Q3 24 | -31.2% | -8.9% | ||
| Q2 24 | -25.9% | -45.2% | ||
| Q1 24 | -25.2% | -42.0% |
| Q4 25 | — | $0.31 | ||
| Q3 25 | $-3.39 | $3.77 | ||
| Q2 25 | $-3.17 | $0.05 | ||
| Q1 25 | $-2.73 | $-1.91 | ||
| Q4 24 | $-4.06 | $1.81 | ||
| Q3 24 | $-2.74 | $-0.34 | ||
| Q2 24 | $-2.43 | $-1.64 | ||
| Q1 24 | $-2.37 | $-1.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $218.3M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $436.1M |
| Total Assets | $1.2B | $1.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $218.3M | ||
| Q3 25 | — | $247.7M | ||
| Q2 25 | — | $198.9M | ||
| Q1 25 | — | $140.9M | ||
| Q4 24 | — | $197.6M | ||
| Q3 24 | — | $191.2M | ||
| Q2 24 | — | $175.9M | ||
| Q1 24 | — | $223.4M |
| 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 | — | $436.1M | ||
| Q3 25 | $-585.8M | $421.5M | ||
| Q2 25 | $-536.5M | $332.5M | ||
| Q1 25 | $-493.9M | $322.8M | ||
| Q4 24 | $-455.7M | $362.1M | ||
| Q3 24 | $-386.1M | $326.4M | ||
| Q2 24 | $-338.6M | $322.6M | ||
| Q1 24 | $-296.8M | $351.2M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $1.2B | $1.9B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.4B | $1.5B |
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 | $9.2M |
| Free Cash FlowOCF − Capex | $-16.9M | $9.1M |
| FCF MarginFCF / Revenue | -12.1% | 7.6% |
| Capex IntensityCapex / Revenue | 1.7% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.53× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $14.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $9.2M | ||
| Q3 25 | $-14.5M | $16.9M | ||
| Q2 25 | $-26.9M | $24.7M | ||
| Q1 25 | $-13.2M | $-35.6M | ||
| Q4 24 | $-10.4M | $47.5M | ||
| Q3 24 | $-3.2M | $46.8M | ||
| Q2 24 | $-14.2M | $-10.6M | ||
| Q1 24 | $-28.4M | $17.7M |
| Q4 25 | — | $9.1M | ||
| Q3 25 | $-16.9M | $16.8M | ||
| Q2 25 | $-29.3M | $24.6M | ||
| Q1 25 | $-17.8M | $-35.7M | ||
| Q4 24 | $-11.0M | $47.2M | ||
| Q3 24 | $-11.1M | — | ||
| Q2 24 | $-24.4M | $-10.7M | ||
| Q1 24 | $-32.5M | $17.6M |
| Q4 25 | — | 7.6% | ||
| Q3 25 | -12.1% | 13.9% | ||
| Q2 25 | -20.0% | 21.0% | ||
| Q1 25 | -12.5% | -32.4% | ||
| Q4 24 | -7.6% | 46.3% | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -16.1% | -11.9% | ||
| Q1 24 | -21.4% | 20.7% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.7% | 0.1% | ||
| Q2 25 | 1.6% | 0.1% | ||
| Q1 25 | 3.2% | 0.1% | ||
| Q4 24 | 0.4% | 0.3% | ||
| Q3 24 | 5.5% | 0.0% | ||
| Q2 24 | 6.7% | 0.1% | ||
| Q1 24 | 2.7% | 0.1% |
| Q4 25 | — | 1.53× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 19.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.07× | ||
| 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% |
HIPO
Segment breakdown not available.
