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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
Metallus Inc. is the larger business by last-quarter revenue ($267.3M vs $140.0M, roughly 1.9× Fat Brands, Inc). Metallus Inc. runs the higher net margin — -5.3% vs -41.6%, a 36.2% gap on every dollar of revenue. On growth, Metallus Inc. posted the faster year-over-year revenue change (11.1% vs -2.3%). Fat Brands, Inc produced more free cash flow last quarter ($-16.9M vs $-37.2M). Over the past eight quarters, Fat Brands, Inc's revenue compounded faster (-6.1% CAGR vs -8.8%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
FAT vs MTUS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $267.3M |
| Net Profit | $-58.2M | $-14.3M |
| Gross Margin | — | 2.2% |
| Operating Margin | -12.4% | -7.7% |
| Net Margin | -41.6% | -5.3% |
| Revenue YoY | -2.3% | 11.1% |
| Net Profit YoY | -30.1% | 33.2% |
| EPS (diluted) | $-3.39 | $-0.34 |
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 | — | $267.3M | ||
| Q3 25 | $140.0M | $305.9M | ||
| Q2 25 | $146.8M | $304.6M | ||
| Q1 25 | $142.0M | $280.5M | ||
| Q4 24 | $145.3M | $240.5M | ||
| Q3 24 | $143.4M | $227.2M | ||
| Q2 24 | $152.0M | $294.7M | ||
| Q1 24 | $152.0M | $321.6M |
| Q4 25 | — | $-14.3M | ||
| Q3 25 | $-58.2M | $8.1M | ||
| Q2 25 | $-54.2M | $3.7M | ||
| Q1 25 | $-46.0M | $1.3M | ||
| Q4 24 | $-67.4M | $-21.4M | ||
| Q3 24 | $-44.8M | $-5.9M | ||
| Q2 24 | $-39.4M | $4.6M | ||
| Q1 24 | $-38.3M | $24.0M |
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 8.2% | ||
| Q1 24 | — | 15.7% |
| Q4 25 | — | -7.7% | ||
| Q3 25 | -12.4% | 3.6% | ||
| Q2 25 | -10.6% | 2.8% | ||
| Q1 25 | -6.0% | 1.0% | ||
| Q4 24 | -27.1% | -10.1% | ||
| Q3 24 | -6.2% | -3.1% | ||
| Q2 24 | -1.8% | 2.1% | ||
| Q1 24 | -0.9% | 9.3% |
| Q4 25 | — | -5.3% | ||
| Q3 25 | -41.6% | 2.6% | ||
| Q2 25 | -36.9% | 1.2% | ||
| Q1 25 | -32.4% | 0.5% | ||
| Q4 24 | -46.4% | -8.9% | ||
| Q3 24 | -31.2% | -2.6% | ||
| Q2 24 | -25.9% | 1.6% | ||
| Q1 24 | -25.2% | 7.5% |
| Q4 25 | — | $-0.34 | ||
| Q3 25 | $-3.39 | $0.19 | ||
| Q2 25 | $-3.17 | $0.09 | ||
| Q1 25 | $-2.73 | $0.03 | ||
| Q4 24 | $-4.06 | $-0.46 | ||
| Q3 24 | $-2.74 | $-0.13 | ||
| Q2 24 | $-2.43 | $0.10 | ||
| Q1 24 | $-2.37 | $0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $156.7M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $686.0M |
| Total Assets | $1.2B | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $156.7M | ||
| Q3 25 | — | $191.5M | ||
| Q2 25 | — | $190.8M | ||
| Q1 25 | — | $180.3M | ||
| Q4 24 | — | $240.7M | ||
| Q3 24 | — | $254.6M | ||
| Q2 24 | — | $272.8M | ||
| Q1 24 | — | $278.1M |
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | $0 | ||
| Q2 25 | $1.3B | $0 | ||
| Q1 25 | $1.3B | $5.4M | ||
| Q4 24 | $1.3B | $5.4M | ||
| Q3 24 | $1.2B | $13.2M | ||
| Q2 24 | $1.2B | $13.2M | ||
| Q1 24 | $1.2B | $13.2M |
| Q4 25 | — | $686.0M | ||
| Q3 25 | $-585.8M | $697.7M | ||
| Q2 25 | $-536.5M | $690.0M | ||
| Q1 25 | $-493.9M | $686.1M | ||
| Q4 24 | $-455.7M | $690.5M | ||
| Q3 24 | $-386.1M | $712.7M | ||
| Q2 24 | $-338.6M | $736.3M | ||
| Q1 24 | $-296.8M | $739.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.4B | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.02× | ||
| 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 | $-1.9M |
| Free Cash FlowOCF − Capex | $-16.9M | $-37.2M |
| FCF MarginFCF / Revenue | -12.1% | -13.9% |
| Capex IntensityCapex / Revenue | 1.7% | 13.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $-93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.9M | ||
| Q3 25 | $-14.5M | $22.0M | ||
| Q2 25 | $-26.9M | $34.8M | ||
| Q1 25 | $-13.2M | $-38.9M | ||
| Q4 24 | $-10.4M | $13.9M | ||
| Q3 24 | $-3.2M | $-15.3M | ||
| Q2 24 | $-14.2M | $8.3M | ||
| Q1 24 | $-28.4M | $33.4M |
| Q4 25 | — | $-37.2M | ||
| Q3 25 | $-16.9M | $-6.4M | ||
| Q2 25 | $-29.3M | $17.0M | ||
| Q1 25 | $-17.8M | $-66.4M | ||
| Q4 24 | $-11.0M | $-1.3M | ||
| Q3 24 | $-11.1M | $-32.9M | ||
| Q2 24 | $-24.4M | $-5.8M | ||
| Q1 24 | $-32.5M | $16.0M |
| Q4 25 | — | -13.9% | ||
| Q3 25 | -12.1% | -2.1% | ||
| Q2 25 | -20.0% | 5.6% | ||
| Q1 25 | -12.5% | -23.7% | ||
| Q4 24 | -7.6% | -0.5% | ||
| Q3 24 | -7.7% | -14.5% | ||
| Q2 24 | -16.1% | -2.0% | ||
| Q1 24 | -21.4% | 5.0% |
| Q4 25 | — | 13.2% | ||
| Q3 25 | 1.7% | 9.3% | ||
| Q2 25 | 1.6% | 5.8% | ||
| Q1 25 | 3.2% | 9.8% | ||
| Q4 24 | 0.4% | 6.3% | ||
| Q3 24 | 5.5% | 7.7% | ||
| Q2 24 | 6.7% | 4.8% | ||
| Q1 24 | 2.7% | 5.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 9.41× | ||
| Q1 25 | — | -29.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.80× | ||
| Q1 24 | — | 1.39× |
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% |
MTUS
| Industrial Market Sector | $95.3M | 36% |
| Manufactured Components | $67.8M | 25% |
| Aerospace And Defense | $39.6M | 15% |
| Seamless Mechanical Tubing | $31.3M | 12% |
| Energy Market Sector | $18.3M | 7% |
| Other | $11.3M | 4% |
| Other Market Sector | $3.7M | 1% |
