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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $140.0M, roughly 1.8× Fat Brands, Inc). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs -2.3%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $-16.9M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
FAT vs PLMR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $253.4M |
| Net Profit | $-58.2M | — |
| Gross Margin | — | — |
| Operating Margin | -12.4% | 28.7% |
| Net Margin | -41.6% | — |
| Revenue YoY | -2.3% | 62.7% |
| Net Profit YoY | -30.1% | — |
| EPS (diluted) | $-3.39 | $2.05 |
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 | — | $253.4M | ||
| Q3 25 | $140.0M | $244.7M | ||
| Q2 25 | $146.8M | $203.3M | ||
| Q1 25 | $142.0M | $174.6M | ||
| Q4 24 | $145.3M | $155.8M | ||
| Q3 24 | $143.4M | $148.5M | ||
| Q2 24 | $152.0M | $131.1M | ||
| Q1 24 | $152.0M | $118.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-58.2M | $51.5M | ||
| Q2 25 | $-54.2M | $46.5M | ||
| Q1 25 | $-46.0M | $42.9M | ||
| Q4 24 | $-67.4M | — | ||
| Q3 24 | $-44.8M | $30.5M | ||
| Q2 24 | $-39.4M | $25.7M | ||
| Q1 24 | $-38.3M | $26.4M |
| Q4 25 | — | 28.7% | ||
| Q3 25 | -12.4% | 27.4% | ||
| Q2 25 | -10.6% | 29.5% | ||
| Q1 25 | -6.0% | 30.8% | ||
| Q4 24 | -27.1% | 28.9% | ||
| Q3 24 | -6.2% | 25.9% | ||
| Q2 24 | -1.8% | 25.5% | ||
| Q1 24 | -0.9% | 29.0% |
| Q4 25 | — | — | ||
| Q3 25 | -41.6% | 21.0% | ||
| Q2 25 | -36.9% | 22.9% | ||
| Q1 25 | -32.4% | 24.6% | ||
| Q4 24 | -46.4% | — | ||
| Q3 24 | -31.2% | 20.5% | ||
| Q2 24 | -25.9% | 19.6% | ||
| Q1 24 | -25.2% | 22.3% |
| Q4 25 | — | $2.05 | ||
| Q3 25 | $-3.39 | $1.87 | ||
| Q2 25 | $-3.17 | $1.68 | ||
| Q1 25 | $-2.73 | $1.57 | ||
| Q4 24 | $-4.06 | $1.29 | ||
| Q3 24 | $-2.74 | $1.15 | ||
| Q2 24 | $-2.43 | $1.00 | ||
| Q1 24 | $-2.37 | $1.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $106.9M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $942.7M |
| Total Assets | $1.2B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $106.9M | ||
| Q3 25 | — | $111.7M | ||
| Q2 25 | — | $81.3M | ||
| Q1 25 | — | $119.3M | ||
| Q4 24 | — | $80.4M | ||
| Q3 24 | — | $86.5M | ||
| Q2 24 | — | $47.8M | ||
| Q1 24 | — | $61.4M |
| 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 | — |
| Q4 25 | — | $942.7M | ||
| Q3 25 | $-585.8M | $878.1M | ||
| Q2 25 | $-536.5M | $847.2M | ||
| Q1 25 | $-493.9M | $790.4M | ||
| Q4 24 | $-455.7M | $729.0M | ||
| Q3 24 | $-386.1M | $703.3M | ||
| Q2 24 | $-338.6M | $532.6M | ||
| Q1 24 | $-296.8M | $501.7M |
| Q4 25 | — | $3.1B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.3B | $2.4B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.4B | $2.0B | ||
| Q1 24 | $1.4B | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $-16.9M | $409.0M |
| FCF MarginFCF / Revenue | -12.1% | 161.4% |
| Capex IntensityCapex / Revenue | 1.7% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $409.1M | ||
| Q3 25 | $-14.5M | $83.6M | ||
| Q2 25 | $-26.9M | $120.9M | ||
| Q1 25 | $-13.2M | $87.2M | ||
| Q4 24 | $-10.4M | $261.2M | ||
| Q3 24 | $-3.2M | $100.3M | ||
| Q2 24 | $-14.2M | $55.1M | ||
| Q1 24 | $-28.4M | $33.1M |
| Q4 25 | — | $409.0M | ||
| Q3 25 | $-16.9M | $83.6M | ||
| Q2 25 | $-29.3M | $120.8M | ||
| Q1 25 | $-17.8M | $87.1M | ||
| Q4 24 | $-11.0M | $260.9M | ||
| Q3 24 | $-11.1M | $100.1M | ||
| Q2 24 | $-24.4M | — | ||
| Q1 24 | $-32.5M | — |
| Q4 25 | — | 161.4% | ||
| Q3 25 | -12.1% | 34.2% | ||
| Q2 25 | -20.0% | 59.4% | ||
| Q1 25 | -12.5% | 49.9% | ||
| Q4 24 | -7.6% | 167.5% | ||
| Q3 24 | -7.7% | 67.4% | ||
| Q2 24 | -16.1% | — | ||
| Q1 24 | -21.4% | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.7% | 0.0% | ||
| Q2 25 | 1.6% | 0.0% | ||
| Q1 25 | 3.2% | 0.0% | ||
| Q4 24 | 0.4% | 0.2% | ||
| Q3 24 | 5.5% | 0.1% | ||
| Q2 24 | 6.7% | 0.0% | ||
| Q1 24 | 2.7% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 2.14× | ||
| Q1 24 | — | 1.26× |
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% |
PLMR
Segment breakdown not available.
