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Side-by-side financial comparison of Fat Brands, Inc (FAT) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $84.2M, roughly 1.7× iQSTEL Inc). iQSTEL Inc runs the higher net margin — -3.2% vs -41.6%, a 38.4% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-16.9M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
FAT vs IQST — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $84.2M |
| Net Profit | $-58.2M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | -12.4% | -2.9% |
| Net Margin | -41.6% | -3.2% |
| Revenue YoY | -2.3% | -14.9% |
| Net Profit YoY | -30.1% | -44.5% |
| EPS (diluted) | $-3.39 | $-0.92 |
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 | — | $84.2M | ||
| Q3 25 | $140.0M | $102.9M | ||
| Q2 25 | $146.8M | $72.2M | ||
| Q1 25 | $142.0M | $57.6M | ||
| Q4 24 | $145.3M | $98.9M | ||
| Q3 24 | $143.4M | $54.2M | ||
| Q2 24 | $152.0M | $78.6M | ||
| Q1 24 | $152.0M | $51.4M |
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $-58.2M | $-2.3M | ||
| Q2 25 | $-54.2M | $-2.3M | ||
| Q1 25 | $-46.0M | $-1.1M | ||
| Q4 24 | $-67.4M | $-1.9M | ||
| Q3 24 | $-44.8M | $-773.0K | ||
| Q2 24 | $-39.4M | $-2.0M | ||
| Q1 24 | $-38.3M | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | -2.9% | ||
| Q3 25 | -12.4% | -0.5% | ||
| Q2 25 | -10.6% | -0.9% | ||
| Q1 25 | -6.0% | -1.0% | ||
| Q4 24 | -27.1% | -0.3% | ||
| Q3 24 | -6.2% | -0.1% | ||
| Q2 24 | -1.8% | -0.4% | ||
| Q1 24 | -0.9% | -0.4% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | -41.6% | -2.3% | ||
| Q2 25 | -36.9% | -3.3% | ||
| Q1 25 | -32.4% | -2.0% | ||
| Q4 24 | -46.4% | -1.9% | ||
| Q3 24 | -31.2% | -1.4% | ||
| Q2 24 | -25.9% | -2.5% | ||
| Q1 24 | -25.2% | -1.1% |
| Q4 25 | — | $-0.92 | ||
| Q3 25 | $-3.39 | $-0.68 | ||
| Q2 25 | $-3.17 | $-0.82 | ||
| Q1 25 | $-2.73 | $-0.44 | ||
| Q4 24 | $-4.06 | $-1.19 | ||
| Q3 24 | $-2.74 | $-0.40 | ||
| Q2 24 | $-2.43 | $-0.90 | ||
| Q1 24 | $-2.37 | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.2M |
| Total DebtLower is stronger | $1.3B | $4.1M |
| Stockholders' EquityBook value | $-585.8M | $16.3M |
| Total Assets | $1.2B | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.2M | ||
| Q3 25 | — | $2.3M | ||
| Q2 25 | — | $2.0M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $2.1M | ||
| Q2 24 | — | $797.2K | ||
| Q1 24 | — | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | $1.3B | $2.7M | ||
| Q2 25 | $1.3B | $4.5M | ||
| Q1 25 | $1.3B | $3.5M | ||
| Q4 24 | $1.3B | $2.5M | ||
| Q3 24 | $1.2B | $3.2M | ||
| Q2 24 | $1.2B | $2.5M | ||
| Q1 24 | $1.2B | $194.0K |
| Q4 25 | — | $16.3M | ||
| Q3 25 | $-585.8M | $17.9M | ||
| Q2 25 | $-536.5M | $14.3M | ||
| Q1 25 | $-493.9M | $11.6M | ||
| Q4 24 | $-455.7M | $11.9M | ||
| Q3 24 | $-386.1M | $8.1M | ||
| Q2 24 | $-338.6M | $7.6M | ||
| Q1 24 | $-296.8M | $8.4M |
| Q4 25 | — | $51.1M | ||
| Q3 25 | $1.2B | $46.9M | ||
| Q2 25 | $1.2B | $51.4M | ||
| Q1 25 | $1.3B | $42.0M | ||
| Q4 24 | $1.3B | $79.0M | ||
| Q3 24 | $1.3B | $32.4M | ||
| Q2 24 | $1.4B | $30.0M | ||
| Q1 24 | $1.4B | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $-16.9M | $-1.2M |
| FCF MarginFCF / Revenue | -12.1% | -1.5% |
| Capex IntensityCapex / Revenue | 1.7% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.2M | ||
| Q3 25 | $-14.5M | $-953.0K | ||
| Q2 25 | $-26.9M | $257.7K | ||
| Q1 25 | $-13.2M | $-1.9M | ||
| Q4 24 | $-10.4M | $-403.7K | ||
| Q3 24 | $-3.2M | $625.0K | ||
| Q2 24 | $-14.2M | $-2.6M | ||
| Q1 24 | $-28.4M | $-536.9K |
| Q4 25 | — | $-1.2M | ||
| Q3 25 | $-16.9M | $-969.2K | ||
| Q2 25 | $-29.3M | $211.7K | ||
| Q1 25 | $-17.8M | $-2.0M | ||
| Q4 24 | $-11.0M | $-421.3K | ||
| Q3 24 | $-11.1M | $594.5K | ||
| Q2 24 | $-24.4M | $-2.6M | ||
| Q1 24 | $-32.5M | $-608.5K |
| Q4 25 | — | -1.5% | ||
| Q3 25 | -12.1% | -0.9% | ||
| Q2 25 | -20.0% | 0.3% | ||
| Q1 25 | -12.5% | -3.4% | ||
| Q4 24 | -7.6% | -0.4% | ||
| Q3 24 | -7.7% | 1.1% | ||
| Q2 24 | -16.1% | -3.4% | ||
| Q1 24 | -21.4% | -1.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 1.7% | 0.0% | ||
| Q2 25 | 1.6% | 0.1% | ||
| Q1 25 | 3.2% | 0.1% | ||
| Q4 24 | 0.4% | 0.0% | ||
| Q3 24 | 5.5% | 0.1% | ||
| Q2 24 | 6.7% | 0.0% | ||
| Q1 24 | 2.7% | 0.1% |
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% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
