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Side-by-side financial comparison of Fat Brands, Inc (FAT) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $75.5M, roughly 1.9× PUMA BIOTECHNOLOGY, INC.). On growth, PUMA BIOTECHNOLOGY, INC. posted the faster year-over-year revenue change (27.7% vs -2.3%). PUMA BIOTECHNOLOGY, INC. produced more free cash flow last quarter ($14.4M vs $-16.9M). Over the past eight quarters, PUMA BIOTECHNOLOGY, INC.'s revenue compounded faster (31.3% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.
FAT vs PBYI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $75.5M |
| Net Profit | $-58.2M | — |
| Gross Margin | — | 69.3% |
| Operating Margin | -12.4% | 22.7% |
| Net Margin | -41.6% | — |
| Revenue YoY | -2.3% | 27.7% |
| Net Profit YoY | -30.1% | — |
| EPS (diluted) | $-3.39 | $0.26 |
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 | — | $75.5M | ||
| Q3 25 | $140.0M | $54.5M | ||
| Q2 25 | $146.8M | $52.4M | ||
| Q1 25 | $142.0M | $46.0M | ||
| Q4 24 | $145.3M | $59.1M | ||
| Q3 24 | $143.4M | $80.5M | ||
| Q2 24 | $152.0M | $47.1M | ||
| Q1 24 | $152.0M | $43.8M |
| Q4 25 | — | — | ||
| Q3 25 | $-58.2M | $8.8M | ||
| Q2 25 | $-54.2M | $5.9M | ||
| Q1 25 | $-46.0M | $3.0M | ||
| Q4 24 | $-67.4M | — | ||
| Q3 24 | $-44.8M | $20.3M | ||
| Q2 24 | $-39.4M | $-4.5M | ||
| Q1 24 | $-38.3M | $-4.8M |
| Q4 25 | — | 69.3% | ||
| Q3 25 | — | 77.7% | ||
| Q2 25 | — | 76.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 77.4% | ||
| Q1 24 | — | 75.5% |
| Q4 25 | — | 22.7% | ||
| Q3 25 | -12.4% | 17.6% | ||
| Q2 25 | -10.6% | 12.7% | ||
| Q1 25 | -6.0% | 8.7% | ||
| Q4 24 | -27.1% | 22.6% | ||
| Q3 24 | -6.2% | 27.4% | ||
| Q2 24 | -1.8% | -4.6% | ||
| Q1 24 | -0.9% | -5.3% |
| Q4 25 | — | — | ||
| Q3 25 | -41.6% | 16.2% | ||
| Q2 25 | -36.9% | 11.2% | ||
| Q1 25 | -32.4% | 6.5% | ||
| Q4 24 | -46.4% | — | ||
| Q3 24 | -31.2% | 25.2% | ||
| Q2 24 | -25.9% | -9.6% | ||
| Q1 24 | -25.2% | -11.0% |
| Q4 25 | — | $0.26 | ||
| Q3 25 | $-3.39 | $0.17 | ||
| Q2 25 | $-3.17 | $0.12 | ||
| Q1 25 | $-2.73 | $0.06 | ||
| Q4 24 | $-4.06 | $0.40 | ||
| Q3 24 | $-2.74 | $0.41 | ||
| Q2 24 | $-2.43 | $-0.09 | ||
| Q1 24 | $-2.37 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $97.5M |
| Total DebtLower is stronger | $1.3B | $22.7M |
| Stockholders' EquityBook value | $-585.8M | $130.3M |
| Total Assets | $1.2B | $216.3M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $97.5M | ||
| Q3 25 | — | $94.4M | ||
| Q2 25 | — | $96.0M | ||
| Q1 25 | — | $93.2M | ||
| Q4 24 | — | $101.0M | ||
| Q3 24 | — | $96.7M | ||
| Q2 24 | — | $96.8M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | — | $22.7M | ||
| Q3 25 | $1.3B | $34.0M | ||
| Q2 25 | $1.3B | $45.3M | ||
| Q1 25 | $1.3B | $56.7M | ||
| Q4 24 | $1.3B | $68.0M | ||
| Q3 24 | $1.2B | $79.3M | ||
| Q2 24 | $1.2B | $90.7M | ||
| Q1 24 | $1.2B | $102.0M |
| Q4 25 | — | $130.3M | ||
| Q3 25 | $-585.8M | $115.3M | ||
| Q2 25 | $-536.5M | $104.7M | ||
| Q1 25 | $-493.9M | $97.1M | ||
| Q4 24 | $-455.7M | $92.1M | ||
| Q3 24 | $-386.1M | $71.1M | ||
| Q2 24 | $-338.6M | $48.5M | ||
| Q1 24 | $-296.8M | $51.0M |
| Q4 25 | — | $216.3M | ||
| Q3 25 | $1.2B | $202.9M | ||
| Q2 25 | $1.2B | $194.9M | ||
| Q1 25 | $1.3B | $196.2M | ||
| Q4 24 | $1.3B | $213.3M | ||
| Q3 24 | $1.3B | $220.7M | ||
| Q2 24 | $1.4B | $205.0M | ||
| Q1 24 | $1.4B | $214.1M |
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.87× | ||
| Q1 24 | — | 2.00× |
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 | $14.4M |
| Free Cash FlowOCF − Capex | $-16.9M | $14.4M |
| FCF MarginFCF / Revenue | -12.1% | 19.1% |
| Capex IntensityCapex / Revenue | 1.7% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $41.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $14.4M | ||
| Q3 25 | $-14.5M | $9.7M | ||
| Q2 25 | $-26.9M | $14.1M | ||
| Q1 25 | $-13.2M | $3.6M | ||
| Q4 24 | $-10.4M | $15.6M | ||
| Q3 24 | $-3.2M | $11.0M | ||
| Q2 24 | $-14.2M | $1.0M | ||
| Q1 24 | $-28.4M | $11.2M |
| Q4 25 | — | $14.4M | ||
| Q3 25 | $-16.9M | $9.7M | ||
| Q2 25 | $-29.3M | $14.1M | ||
| Q1 25 | $-17.8M | $3.6M | ||
| Q4 24 | $-11.0M | $15.6M | ||
| Q3 24 | $-11.1M | $11.0M | ||
| Q2 24 | $-24.4M | $1.0M | ||
| Q1 24 | $-32.5M | — |
| Q4 25 | — | 19.1% | ||
| Q3 25 | -12.1% | 17.7% | ||
| Q2 25 | -20.0% | 26.8% | ||
| Q1 25 | -12.5% | 7.7% | ||
| Q4 24 | -7.6% | 26.4% | ||
| Q3 24 | -7.7% | 13.7% | ||
| Q2 24 | -16.1% | 2.1% | ||
| Q1 24 | -21.4% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 1.7% | 0.0% | ||
| Q2 25 | 1.6% | 0.0% | ||
| Q1 25 | 3.2% | 0.1% | ||
| Q4 24 | 0.4% | 0.0% | ||
| Q3 24 | 5.5% | 0.0% | ||
| Q2 24 | 6.7% | 0.0% | ||
| Q1 24 | 2.7% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | — | ||
| 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% |
PBYI
Segment breakdown not available.
