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Side-by-side financial comparison of Fat Brands, Inc (FAT) and LXP Industrial Trust (LXP). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $86.7M, roughly 1.6× LXP Industrial Trust). LXP Industrial Trust runs the higher net margin — 33.2% vs -41.6%, a 74.8% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -14.0%). Over the past eight quarters, LXP Industrial Trust's revenue compounded faster (0.3% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
FAT vs LXP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $86.7M |
| Net Profit | $-58.2M | $28.8M |
| Gross Margin | — | 81.5% |
| Operating Margin | -12.4% | 34.6% |
| Net Margin | -41.6% | 33.2% |
| Revenue YoY | -2.3% | -14.0% |
| Net Profit YoY | -30.1% | — |
| EPS (diluted) | $-3.39 | — |
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 | — | $86.7M | ||
| Q3 25 | $140.0M | $86.9M | ||
| Q2 25 | $146.8M | $87.7M | ||
| Q1 25 | $142.0M | $88.9M | ||
| Q4 24 | $145.3M | $100.9M | ||
| Q3 24 | $143.4M | $85.6M | ||
| Q2 24 | $152.0M | $85.8M | ||
| Q1 24 | $152.0M | $86.3M |
| Q4 25 | — | $28.8M | ||
| Q3 25 | $-58.2M | $36.3M | ||
| Q2 25 | $-54.2M | $29.1M | ||
| Q1 25 | $-46.0M | $19.0M | ||
| Q4 24 | $-67.4M | — | ||
| Q3 24 | $-44.8M | $6.3M | ||
| Q2 24 | $-39.4M | $5.4M | ||
| Q1 24 | $-38.3M | $-269.0K |
| Q4 25 | — | 81.5% | ||
| Q3 25 | — | 82.3% | ||
| Q2 25 | — | 81.9% | ||
| Q1 25 | — | 80.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | — | 82.5% | ||
| Q2 24 | — | 82.0% | ||
| Q1 24 | — | 82.4% |
| Q4 25 | — | 34.6% | ||
| Q3 25 | -12.4% | 50.4% | ||
| Q2 25 | -10.6% | 33.7% | ||
| Q1 25 | -6.0% | 21.8% | ||
| Q4 24 | -27.1% | — | ||
| Q3 24 | -6.2% | 7.9% | ||
| Q2 24 | -1.8% | 6.9% | ||
| Q1 24 | -0.9% | 1.0% |
| Q4 25 | — | 33.2% | ||
| Q3 25 | -41.6% | 41.7% | ||
| Q2 25 | -36.9% | 33.2% | ||
| Q1 25 | -32.4% | 21.4% | ||
| Q4 24 | -46.4% | — | ||
| Q3 24 | -31.2% | 7.4% | ||
| Q2 24 | -25.9% | 6.3% | ||
| Q1 24 | -25.2% | -0.3% |
| Q4 25 | — | — | ||
| Q3 25 | $-3.39 | $0.12 | ||
| Q2 25 | $-3.17 | $0.09 | ||
| Q1 25 | $-2.73 | $0.06 | ||
| Q4 24 | $-4.06 | — | ||
| Q3 24 | $-2.74 | $0.02 | ||
| Q2 24 | $-2.43 | $0.01 | ||
| Q1 24 | $-2.37 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $170.4M |
| Total DebtLower is stronger | $1.3B | $1.4B |
| Stockholders' EquityBook value | $-585.8M | $2.0B |
| Total Assets | $1.2B | $3.5B |
| Debt / EquityLower = less leverage | — | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $170.4M | ||
| Q3 25 | — | $229.7M | ||
| Q2 25 | — | $71.0M | ||
| Q1 25 | — | $70.9M | ||
| Q4 24 | — | $101.8M | ||
| Q3 24 | — | $55.0M | ||
| Q2 24 | — | $48.7M | ||
| Q1 24 | — | $293.8M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $-585.8M | $2.1B | ||
| Q2 25 | $-536.5M | $2.1B | ||
| Q1 25 | $-493.9M | $2.1B | ||
| Q4 24 | $-455.7M | $2.1B | ||
| Q3 24 | $-386.1M | $2.1B | ||
| Q2 24 | $-338.6M | $2.1B | ||
| Q1 24 | $-296.8M | $2.2B |
| Q4 25 | — | $3.5B | ||
| Q3 25 | $1.2B | $3.7B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.3B | $3.8B | ||
| Q4 24 | $1.3B | $3.8B | ||
| Q3 24 | $1.3B | $3.9B | ||
| Q2 24 | $1.4B | $3.9B | ||
| Q1 24 | $1.4B | $4.2B |
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $188.7M |
| Free Cash FlowOCF − Capex | $-16.9M | — |
| FCF MarginFCF / Revenue | -12.1% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | — | 6.56× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $188.7M | ||
| Q3 25 | $-14.5M | $63.5M | ||
| Q2 25 | $-26.9M | $44.3M | ||
| Q1 25 | $-13.2M | $39.0M | ||
| Q4 24 | $-10.4M | $211.2M | ||
| Q3 24 | $-3.2M | $64.6M | ||
| Q2 24 | $-14.2M | $38.5M | ||
| Q1 24 | $-28.4M | $38.9M |
| Q4 25 | — | — | ||
| Q3 25 | $-16.9M | — | ||
| Q2 25 | $-29.3M | — | ||
| Q1 25 | $-17.8M | — | ||
| Q4 24 | $-11.0M | — | ||
| Q3 24 | $-11.1M | — | ||
| Q2 24 | $-24.4M | — | ||
| Q1 24 | $-32.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | -12.1% | — | ||
| Q2 25 | -20.0% | — | ||
| Q1 25 | -12.5% | — | ||
| Q4 24 | -7.6% | — | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -16.1% | — | ||
| Q1 24 | -21.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 3.2% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 6.7% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | — | 6.56× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.52× | ||
| Q1 25 | — | 2.05× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 10.18× | ||
| Q2 24 | — | 7.09× | ||
| 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% |
LXP
Segment breakdown not available.
