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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Ramaco Resources, Inc. (METC). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $121.0M, roughly 1.2× Ramaco Resources, Inc.). Ramaco Resources, Inc. runs the higher net margin — -11.0% vs -41.6%, a 30.6% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -27.7%). Fat Brands, Inc produced more free cash flow last quarter ($-16.9M vs $-17.5M). Over the past eight quarters, Fat Brands, Inc's revenue compounded faster (-6.1% CAGR vs -22.7%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Ramaco Resources, Inc. is a U.S.-based mining company focused on high-grade metallurgical coal production. It operates mining assets across the Appalachian region, supplying products to global steel manufacturing and industrial clients, with core operations centered on sustainable low-cost metallurgical coal extraction and distribution.
FAT vs METC — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $121.0M |
| Net Profit | $-58.2M | $-13.3M |
| Gross Margin | — | 15.8% |
| Operating Margin | -12.4% | -12.0% |
| Net Margin | -41.6% | -11.0% |
| Revenue YoY | -2.3% | -27.7% |
| Net Profit YoY | -30.1% | -5468.2% |
| 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.
| Q3 25 | $140.0M | $121.0M | ||
| Q2 25 | $146.8M | $153.0M | ||
| Q1 25 | $142.0M | $134.7M | ||
| Q4 24 | $145.3M | $170.9M | ||
| Q3 24 | $143.4M | $167.4M | ||
| Q2 24 | $152.0M | $155.3M | ||
| Q1 24 | $152.0M | $172.7M | ||
| Q4 23 | $158.6M | $202.7M |
| Q3 25 | $-58.2M | $-13.3M | ||
| Q2 25 | $-54.2M | $-14.0M | ||
| Q1 25 | $-46.0M | $-9.5M | ||
| Q4 24 | $-67.4M | $3.9M | ||
| Q3 24 | $-44.8M | $-239.0K | ||
| Q2 24 | $-39.4M | $5.5M | ||
| Q1 24 | $-38.3M | $2.0M | ||
| Q4 23 | $-26.2M | $30.0M |
| Q3 25 | — | 15.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 15.2% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 19.1% | ||
| Q4 23 | — | 31.2% |
| Q3 25 | -12.4% | -12.0% | ||
| Q2 25 | -10.6% | -9.1% | ||
| Q1 25 | -6.0% | -8.9% | ||
| Q4 24 | -27.1% | 3.7% | ||
| Q3 24 | -6.2% | 1.0% | ||
| Q2 24 | -1.8% | 3.5% | ||
| Q1 24 | -0.9% | 1.9% | ||
| Q4 23 | -2.0% | 18.4% |
| Q3 25 | -41.6% | -11.0% | ||
| Q2 25 | -36.9% | -9.1% | ||
| Q1 25 | -32.4% | -7.0% | ||
| Q4 24 | -46.4% | 2.3% | ||
| Q3 24 | -31.2% | -0.1% | ||
| Q2 24 | -25.9% | 3.6% | ||
| Q1 24 | -25.2% | 1.2% | ||
| Q4 23 | -16.5% | 14.8% |
| Q3 25 | $-3.39 | — | ||
| Q2 25 | $-3.17 | — | ||
| Q1 25 | $-2.73 | — | ||
| Q4 24 | $-4.06 | $0.06 | ||
| Q3 24 | $-2.74 | $-0.03 | ||
| Q2 24 | $-2.43 | $0.08 | ||
| Q1 24 | $-2.37 | $0.00 | ||
| Q4 23 | $-1.68 | $0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $193.8M |
| Total DebtLower is stronger | $1.3B | $116.3M |
| Stockholders' EquityBook value | $-585.8M | $526.9M |
| Total Assets | $1.2B | $849.7M |
| Debt / EquityLower = less leverage | — | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $193.8M | ||
| Q2 25 | — | $28.1M | ||
| Q1 25 | — | $43.5M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $22.9M | ||
| Q2 24 | — | $27.6M | ||
| Q1 24 | — | $30.5M | ||
| Q4 23 | — | $42.0M |
| Q3 25 | $1.3B | $116.3M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $88.2M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — | ||
| Q4 23 | $1.2B | $91.4M |
| Q3 25 | $-585.8M | $526.9M | ||
| Q2 25 | $-536.5M | $347.4M | ||
| Q1 25 | $-493.9M | $355.2M | ||
| Q4 24 | $-455.7M | $362.8M | ||
| Q3 24 | $-386.1M | $361.8M | ||
| Q2 24 | $-338.6M | $366.1M | ||
| Q1 24 | $-296.8M | $372.3M | ||
| Q4 23 | $-255.9M | $369.6M |
| Q3 25 | $1.2B | $849.7M | ||
| Q2 25 | $1.2B | $674.6M | ||
| Q1 25 | $1.3B | $685.7M | ||
| Q4 24 | $1.3B | $674.7M | ||
| Q3 24 | $1.3B | $645.4M | ||
| Q2 24 | $1.4B | $659.2M | ||
| Q1 24 | $1.4B | $674.0M | ||
| Q4 23 | $1.4B | $665.8M |
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | 0.25× |
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 | $-1.4M |
| Free Cash FlowOCF − Capex | $-16.9M | $-17.5M |
| FCF MarginFCF / Revenue | -12.1% | -14.5% |
| Capex IntensityCapex / Revenue | 1.7% | 13.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $-24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-14.5M | $-1.4M | ||
| Q2 25 | $-26.9M | $-4.3M | ||
| Q1 25 | $-13.2M | $26.0M | ||
| Q4 24 | $-10.4M | $15.7M | ||
| Q3 24 | $-3.2M | $37.4M | ||
| Q2 24 | $-14.2M | $34.4M | ||
| Q1 24 | $-28.4M | $25.2M | ||
| Q4 23 | $-12.6M | $41.6M |
| Q3 25 | $-16.9M | $-17.5M | ||
| Q2 25 | $-29.3M | $-19.8M | ||
| Q1 25 | $-17.8M | $7.6M | ||
| Q4 24 | $-11.0M | $5.1M | ||
| Q3 24 | $-11.1M | $25.6M | ||
| Q2 24 | $-24.4M | $20.3M | ||
| Q1 24 | $-32.5M | $6.5M | ||
| Q4 23 | $-18.0M | $23.6M |
| Q3 25 | -12.1% | -14.5% | ||
| Q2 25 | -20.0% | -13.0% | ||
| Q1 25 | -12.5% | 5.6% | ||
| Q4 24 | -7.6% | 3.0% | ||
| Q3 24 | -7.7% | 15.3% | ||
| Q2 24 | -16.1% | 13.1% | ||
| Q1 24 | -21.4% | 3.7% | ||
| Q4 23 | -11.4% | 11.6% |
| Q3 25 | 1.7% | 13.3% | ||
| Q2 25 | 1.6% | 10.2% | ||
| Q1 25 | 3.2% | 13.7% | ||
| Q4 24 | 0.4% | 6.2% | ||
| Q3 24 | 5.5% | 7.0% | ||
| Q2 24 | 6.7% | 9.1% | ||
| Q1 24 | 2.7% | 10.8% | ||
| Q4 23 | 3.4% | 8.9% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.06× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.21× | ||
| Q1 24 | — | 12.40× | ||
| Q4 23 | — | 1.38× |
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% |
METC
| Export Coal Revenues | $73.0M | 60% |
| Domestic Coal Revenues | $48.0M | 40% |
