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Side-by-side financial comparison of Fat Brands, Inc (FAT) and UNIVERSAL DISPLAY CORP \PA\ (OLED). Click either name above to swap in a different company.
UNIVERSAL DISPLAY CORP \PA\ is the larger business by last-quarter revenue ($142.2M vs $140.0M, roughly 1.0× Fat Brands, Inc). UNIVERSAL DISPLAY CORP \PA\ runs the higher net margin — 25.2% vs -41.6%, a 66.8% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -14.5%). Over the past eight quarters, UNIVERSAL DISPLAY CORP \PA\'s revenue compounded faster (-5.3% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Universal Display Corporation is a developer and manufacturer of organic light emitting diode (OLED) technologies and materials, and it is a provider of services to the display and lighting industries.
FAT vs OLED — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $142.2M |
| Net Profit | $-58.2M | $35.9M |
| Gross Margin | — | 74.6% |
| Operating Margin | -12.4% | 30.1% |
| Net Margin | -41.6% | 25.2% |
| Revenue YoY | -2.3% | -14.5% |
| Net Profit YoY | -30.1% | -44.3% |
| EPS (diluted) | $-3.39 | $0.76 |
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.
| Q1 26 | — | $142.2M | ||
| Q4 25 | — | $172.9M | ||
| Q3 25 | $140.0M | $139.6M | ||
| Q2 25 | $146.8M | $171.8M | ||
| Q1 25 | $142.0M | $166.3M | ||
| Q4 24 | $145.3M | $162.3M | ||
| Q3 24 | $143.4M | $161.6M | ||
| Q2 24 | $152.0M | $158.5M |
| Q1 26 | — | $35.9M | ||
| Q4 25 | — | $66.3M | ||
| Q3 25 | $-58.2M | $44.0M | ||
| Q2 25 | $-54.2M | $67.3M | ||
| Q1 25 | $-46.0M | $64.4M | ||
| Q4 24 | $-67.4M | $46.0M | ||
| Q3 24 | $-44.8M | $66.9M | ||
| Q2 24 | $-39.4M | $52.3M |
| Q1 26 | — | 74.6% | ||
| Q4 25 | — | 76.1% | ||
| Q3 25 | — | 74.6% | ||
| Q2 25 | — | 77.2% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.0% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 75.8% |
| Q1 26 | — | 30.1% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | -12.4% | 30.9% | ||
| Q2 25 | -10.6% | 39.9% | ||
| Q1 25 | -6.0% | 41.9% | ||
| Q4 24 | -27.1% | 32.3% | ||
| Q3 24 | -6.2% | 41.5% | ||
| Q2 24 | -1.8% | 35.6% |
| Q1 26 | — | 25.2% | ||
| Q4 25 | — | 38.4% | ||
| Q3 25 | -41.6% | 31.5% | ||
| Q2 25 | -36.9% | 39.2% | ||
| Q1 25 | -32.4% | 38.8% | ||
| Q4 24 | -46.4% | 28.4% | ||
| Q3 24 | -31.2% | 41.4% | ||
| Q2 24 | -25.9% | 33.0% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | — | $1.40 | ||
| Q3 25 | $-3.39 | $0.92 | ||
| Q2 25 | $-3.17 | $1.41 | ||
| Q1 25 | $-2.73 | $1.35 | ||
| Q4 24 | $-4.06 | $0.96 | ||
| Q3 24 | $-2.74 | $1.40 | ||
| Q2 24 | $-2.43 | $1.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $516.4M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | — |
| Total Assets | $1.2B | $1.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $516.4M | ||
| Q4 25 | — | $602.4M | ||
| Q3 25 | — | $603.0M | ||
| Q2 25 | — | $525.2M | ||
| Q1 25 | — | $571.3M | ||
| Q4 24 | — | $492.7M | ||
| Q3 24 | — | $551.6M | ||
| Q2 24 | — | $530.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $-585.8M | $1.7B | ||
| Q2 25 | $-536.5M | $1.7B | ||
| Q1 25 | $-493.9M | $1.7B | ||
| Q4 24 | $-455.7M | $1.6B | ||
| Q3 24 | $-386.1M | $1.6B | ||
| Q2 24 | $-338.6M | $1.5B |
| Q1 26 | — | $1.9B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | $1.2B | $1.9B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.3B | $1.9B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.4B | $1.8B |
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 | $108.9M |
| Free Cash FlowOCF − Capex | $-16.9M | — |
| FCF MarginFCF / Revenue | -12.1% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | — | 3.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $108.9M | ||
| Q4 25 | — | $31.1M | ||
| Q3 25 | $-14.5M | $97.2M | ||
| Q2 25 | $-26.9M | $51.9M | ||
| Q1 25 | $-13.2M | $30.6M | ||
| Q4 24 | $-10.4M | $34.7M | ||
| Q3 24 | $-3.2M | $79.9M | ||
| Q2 24 | $-14.2M | $67.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $15.1M | ||
| Q3 25 | $-16.9M | $84.3M | ||
| Q2 25 | $-29.3M | $37.5M | ||
| Q1 25 | $-17.8M | $17.5M | ||
| Q4 24 | $-11.0M | $22.0M | ||
| Q3 24 | $-11.1M | $66.2M | ||
| Q2 24 | $-24.4M | $57.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.7% | ||
| Q3 25 | -12.1% | 60.4% | ||
| Q2 25 | -20.0% | 21.8% | ||
| Q1 25 | -12.5% | 10.5% | ||
| Q4 24 | -7.6% | 13.6% | ||
| Q3 24 | -7.7% | 41.0% | ||
| Q2 24 | -16.1% | 36.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.3% | ||
| Q3 25 | 1.7% | 9.2% | ||
| Q2 25 | 1.6% | 8.4% | ||
| Q1 25 | 3.2% | 7.9% | ||
| Q4 24 | 0.4% | 7.8% | ||
| Q3 24 | 5.5% | 8.4% | ||
| Q2 24 | 6.7% | 5.8% |
| Q1 26 | — | 3.03× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | 1.28× |
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% |
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
