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Side-by-side financial comparison of Fat Brands, Inc (FAT) and NATURES SUNSHINE PRODUCTS INC (NATR). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $123.8M, roughly 1.1× NATURES SUNSHINE PRODUCTS INC). NATURES SUNSHINE PRODUCTS INC runs the higher net margin — 3.3% vs -41.6%, a 44.9% gap on every dollar of revenue. On growth, NATURES SUNSHINE PRODUCTS INC posted the faster year-over-year revenue change (4.7% vs -2.3%). NATURES SUNSHINE PRODUCTS INC produced more free cash flow last quarter ($7.6M vs $-16.9M). Over the past eight quarters, NATURES SUNSHINE PRODUCTS INC's revenue compounded faster (5.6% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Nature's Sunshine Products, Inc. also known as "NSP", is a manufacturer of dietary supplements, including herbs, vitamins, minerals, and personal care products. It is based in Lehi, Utah, with a manufacturing facility in Spanish Fork, Utah.
FAT vs NATR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $123.8M |
| Net Profit | $-58.2M | $4.1M |
| Gross Margin | — | 72.5% |
| Operating Margin | -12.4% | 4.3% |
| Net Margin | -41.6% | 3.3% |
| Revenue YoY | -2.3% | 4.7% |
| Net Profit YoY | -30.1% | 1379.4% |
| EPS (diluted) | $-3.39 | $0.23 |
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 | — | $123.8M | ||
| Q3 25 | $140.0M | $128.3M | ||
| Q2 25 | $146.8M | $114.8M | ||
| Q1 25 | $142.0M | $113.2M | ||
| Q4 24 | $145.3M | $118.2M | ||
| Q3 24 | $143.4M | $114.6M | ||
| Q2 24 | $152.0M | $110.6M | ||
| Q1 24 | $152.0M | $111.0M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | $-58.2M | $5.3M | ||
| Q2 25 | $-54.2M | $5.3M | ||
| Q1 25 | $-46.0M | $4.7M | ||
| Q4 24 | $-67.4M | $-321.0K | ||
| Q3 24 | $-44.8M | $4.3M | ||
| Q2 24 | $-39.4M | $1.3M | ||
| Q1 24 | $-38.3M | $2.3M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 73.3% | ||
| Q2 25 | — | 71.7% | ||
| Q1 25 | — | 72.1% | ||
| Q4 24 | — | 72.0% | ||
| Q3 24 | — | 71.3% | ||
| Q2 24 | — | 71.4% | ||
| Q1 24 | — | 71.2% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | -12.4% | 7.0% | ||
| Q2 25 | -10.6% | 3.7% | ||
| Q1 25 | -6.0% | 5.4% | ||
| Q4 24 | -27.1% | 3.8% | ||
| Q3 24 | -6.2% | 4.6% | ||
| Q2 24 | -1.8% | 5.1% | ||
| Q1 24 | -0.9% | 4.2% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | -41.6% | 4.2% | ||
| Q2 25 | -36.9% | 4.6% | ||
| Q1 25 | -32.4% | 4.2% | ||
| Q4 24 | -46.4% | -0.3% | ||
| Q3 24 | -31.2% | 3.8% | ||
| Q2 24 | -25.9% | 1.2% | ||
| Q1 24 | -25.2% | 2.1% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | $-3.39 | $0.30 | ||
| Q2 25 | $-3.17 | $0.28 | ||
| Q1 25 | $-2.73 | $0.25 | ||
| Q4 24 | $-4.06 | $-0.02 | ||
| Q3 24 | $-2.74 | $0.23 | ||
| Q2 24 | $-2.43 | $0.07 | ||
| Q1 24 | $-2.37 | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $93.9M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $161.6M |
| Total Assets | $1.2B | $261.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $93.9M | ||
| Q3 25 | — | $95.6M | ||
| Q2 25 | — | $81.3M | ||
| Q1 25 | — | $86.5M | ||
| Q4 24 | — | $84.7M | ||
| Q3 24 | — | $78.7M | ||
| Q2 24 | — | $68.7M | ||
| Q1 24 | — | $77.8M |
| 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 | $2.1M |
| Q4 25 | — | $161.6M | ||
| Q3 25 | $-585.8M | $166.7M | ||
| Q2 25 | $-536.5M | $163.7M | ||
| Q1 25 | $-493.9M | $167.1M | ||
| Q4 24 | $-455.7M | $161.0M | ||
| Q3 24 | $-386.1M | $162.6M | ||
| Q2 24 | $-338.6M | $156.4M | ||
| Q1 24 | $-296.8M | $159.7M |
| Q4 25 | — | $261.1M | ||
| Q3 25 | $1.2B | $264.8M | ||
| Q2 25 | $1.2B | $254.9M | ||
| Q1 25 | $1.3B | $252.7M | ||
| Q4 24 | $1.3B | $240.9M | ||
| Q3 24 | $1.3B | $245.3M | ||
| Q2 24 | $1.4B | $235.8M | ||
| Q1 24 | $1.4B | $247.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.01× |
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 | $9.9M |
| Free Cash FlowOCF − Capex | $-16.9M | $7.6M |
| FCF MarginFCF / Revenue | -12.1% | 6.1% |
| Capex IntensityCapex / Revenue | 1.7% | 1.9% |
| Cash ConversionOCF / Net Profit | — | 2.41× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $28.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $9.9M | ||
| Q3 25 | $-14.5M | $18.5M | ||
| Q2 25 | $-26.9M | $4.3M | ||
| Q1 25 | $-13.2M | $2.6M | ||
| Q4 24 | $-10.4M | $12.2M | ||
| Q3 24 | $-3.2M | $9.6M | ||
| Q2 24 | $-14.2M | $1.3M | ||
| Q1 24 | $-28.4M | $2.2M |
| Q4 25 | — | $7.6M | ||
| Q3 25 | $-16.9M | $16.8M | ||
| Q2 25 | $-29.3M | $3.0M | ||
| Q1 25 | $-17.8M | $1.5M | ||
| Q4 24 | $-11.0M | $10.0M | ||
| Q3 24 | $-11.1M | $7.9M | ||
| Q2 24 | $-24.4M | $-2.0M | ||
| Q1 24 | $-32.5M | $-1.5M |
| Q4 25 | — | 6.1% | ||
| Q3 25 | -12.1% | 13.1% | ||
| Q2 25 | -20.0% | 2.6% | ||
| Q1 25 | -12.5% | 1.3% | ||
| Q4 24 | -7.6% | 8.5% | ||
| Q3 24 | -7.7% | 6.9% | ||
| Q2 24 | -16.1% | -1.9% | ||
| Q1 24 | -21.4% | -1.4% |
| Q4 25 | — | 1.9% | ||
| Q3 25 | 1.7% | 1.3% | ||
| Q2 25 | 1.6% | 1.2% | ||
| Q1 25 | 3.2% | 1.0% | ||
| Q4 24 | 0.4% | 1.9% | ||
| Q3 24 | 5.5% | 1.5% | ||
| Q2 24 | 6.7% | 3.0% | ||
| Q1 24 | 2.7% | 3.3% |
| Q4 25 | — | 2.41× | ||
| Q3 25 | — | 3.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.21× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 0.94× |
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% |
NATR
| Other | $68.1M | 55% |
| General Health Products | $20.2M | 16% |
| Digestive Products | $13.8M | 11% |
| Cardiovascular Products | $12.1M | 10% |
| Personal Care Products | $4.4M | 4% |
| Immunity Products | $3.1M | 3% |
| Weight Management Products | $2.1M | 2% |
