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Side-by-side financial comparison of Fat Brands, Inc (FAT) and PagerDuty, Inc. (PD). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $124.5M, roughly 1.1× PagerDuty, Inc.). PagerDuty, Inc. runs the higher net margin — 129.7% vs -41.6%, a 171.3% gap on every dollar of revenue. On growth, PagerDuty, Inc. posted the faster year-over-year revenue change (4.7% vs -2.3%). PagerDuty, Inc. produced more free cash flow last quarter ($24.1M vs $-16.9M). Over the past eight quarters, PagerDuty, Inc.'s revenue compounded faster (5.9% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
FAT vs PD — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $124.5M |
| Net Profit | $-58.2M | $161.6M |
| Gross Margin | — | 85.3% |
| Operating Margin | -12.4% | 6.5% |
| Net Margin | -41.6% | 129.7% |
| Revenue YoY | -2.3% | 4.7% |
| Net Profit YoY | -30.1% | 2827.7% |
| EPS (diluted) | $-3.39 | $1.69 |
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 | — | $124.5M | ||
| Q3 25 | $140.0M | $123.4M | ||
| Q2 25 | $146.8M | $119.8M | ||
| Q1 25 | $142.0M | $121.4M | ||
| Q4 24 | $145.3M | $118.9M | ||
| Q3 24 | $143.4M | $115.9M | ||
| Q2 24 | $152.0M | $111.2M | ||
| Q1 24 | $152.0M | $111.1M |
| Q4 25 | — | $161.6M | ||
| Q3 25 | $-58.2M | $9.6M | ||
| Q2 25 | $-54.2M | $-7.2M | ||
| Q1 25 | $-46.0M | $-8.8M | ||
| Q4 24 | $-67.4M | $-5.9M | ||
| Q3 24 | $-44.8M | $-10.9M | ||
| Q2 24 | $-39.4M | $-17.1M | ||
| Q1 24 | $-38.3M | $-28.2M |
| Q4 25 | — | 85.3% | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | 84.0% | ||
| Q1 25 | — | 83.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 82.7% | ||
| Q2 24 | — | 82.6% | ||
| Q1 24 | — | 81.7% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | -12.4% | 2.9% | ||
| Q2 25 | -10.6% | -8.6% | ||
| Q1 25 | -6.0% | -9.6% | ||
| Q4 24 | -27.1% | -8.7% | ||
| Q3 24 | -6.2% | -13.8% | ||
| Q2 24 | -1.8% | -19.5% | ||
| Q1 24 | -0.9% | -30.1% |
| Q4 25 | — | 129.7% | ||
| Q3 25 | -41.6% | 7.8% | ||
| Q2 25 | -36.9% | -6.0% | ||
| Q1 25 | -32.4% | -7.2% | ||
| Q4 24 | -46.4% | -5.0% | ||
| Q3 24 | -31.2% | -9.4% | ||
| Q2 24 | -25.9% | -15.4% | ||
| Q1 24 | -25.2% | -25.3% |
| Q4 25 | — | $1.69 | ||
| Q3 25 | $-3.39 | $0.10 | ||
| Q2 25 | $-3.17 | $-0.07 | ||
| Q1 25 | $-2.73 | $-0.12 | ||
| Q4 24 | $-4.06 | $-0.07 | ||
| Q3 24 | $-2.74 | $-0.14 | ||
| Q2 24 | $-2.43 | $-0.26 | ||
| Q1 24 | $-2.37 | $-0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $547.8M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $320.5M |
| Total Assets | $1.2B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $547.8M | ||
| Q3 25 | — | $567.9M | ||
| Q2 25 | — | $597.1M | ||
| Q1 25 | — | $570.8M | ||
| Q4 24 | — | $542.2M | ||
| Q3 24 | — | $599.3M | ||
| Q2 24 | — | $592.8M | ||
| Q1 24 | — | $571.2M |
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | $484.5M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | $489.5M |
| Q4 25 | — | $320.5M | ||
| Q3 25 | $-585.8M | $180.7M | ||
| Q2 25 | $-536.5M | $145.7M | ||
| Q1 25 | $-493.9M | $129.8M | ||
| Q4 24 | $-455.7M | $111.6M | ||
| Q3 24 | $-386.1M | $164.7M | ||
| Q2 24 | $-338.6M | $174.0M | ||
| Q1 24 | $-296.8M | $171.6M |
| Q4 25 | — | $1.0B | ||
| Q3 25 | $1.2B | $891.5M | ||
| Q2 25 | $1.2B | $926.8M | ||
| Q1 25 | $1.3B | $927.3M | ||
| Q4 24 | $1.3B | $866.8M | ||
| Q3 24 | $1.3B | $916.0M | ||
| Q2 24 | $1.4B | $924.0M | ||
| Q1 24 | $1.4B | $925.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.73× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.85× |
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 | $24.8M |
| Free Cash FlowOCF − Capex | $-16.9M | $24.1M |
| FCF MarginFCF / Revenue | -12.1% | 19.3% |
| Capex IntensityCapex / Revenue | 1.7% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 0.15× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $117.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $24.8M | ||
| Q3 25 | $-14.5M | $34.0M | ||
| Q2 25 | $-26.9M | $30.7M | ||
| Q1 25 | $-13.2M | $31.4M | ||
| Q4 24 | $-10.4M | $22.1M | ||
| Q3 24 | $-3.2M | $35.8M | ||
| Q2 24 | $-14.2M | $28.6M | ||
| Q1 24 | $-28.4M | $22.2M |
| Q4 25 | — | $24.1M | ||
| Q3 25 | $-16.9M | $33.1M | ||
| Q2 25 | $-29.3M | $30.2M | ||
| Q1 25 | $-17.8M | $30.3M | ||
| Q4 24 | $-11.0M | $21.5M | ||
| Q3 24 | $-11.1M | $35.1M | ||
| Q2 24 | $-24.4M | $28.2M | ||
| Q1 24 | $-32.5M | $21.2M |
| Q4 25 | — | 19.3% | ||
| Q3 25 | -12.1% | 26.8% | ||
| Q2 25 | -20.0% | 25.2% | ||
| Q1 25 | -12.5% | 24.9% | ||
| Q4 24 | -7.6% | 18.1% | ||
| Q3 24 | -7.7% | 30.3% | ||
| Q2 24 | -16.1% | 25.4% | ||
| Q1 24 | -21.4% | 19.1% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | 1.7% | 0.7% | ||
| Q2 25 | 1.6% | 0.4% | ||
| Q1 25 | 3.2% | 0.9% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | 5.5% | 0.5% | ||
| Q2 24 | 6.7% | 0.4% | ||
| Q1 24 | 2.7% | 0.9% |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 3.55× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
