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Side-by-side financial comparison of Fat Brands, Inc (FAT) and PTC THERAPEUTICS, INC. (PTCT). Click either name above to swap in a different company.
PTC THERAPEUTICS, INC. is the larger business by last-quarter revenue ($164.7M vs $140.0M, roughly 1.2× Fat Brands, Inc). Fat Brands, Inc runs the higher net margin — -41.6% vs -82.0%, a 40.4% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -22.7%). Fat Brands, Inc produced more free cash flow last quarter ($-16.9M vs $-36.6M). Over the past eight quarters, Fat Brands, Inc's revenue compounded faster (-6.1% CAGR vs -11.5%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
PTC Therapeutics, Inc. is a US pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapy which regulate gene expression by targeting post-transcriptional control (PTC) mechanisms in orphan diseases.
FAT vs PTCT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $164.7M |
| Net Profit | $-58.2M | $-135.0M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | -43.3% |
| Net Margin | -41.6% | -82.0% |
| Revenue YoY | -2.3% | -22.7% |
| Net Profit YoY | -30.1% | -104.8% |
| EPS (diluted) | $-3.39 | $-1.63 |
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 | — | $164.7M | ||
| Q3 25 | $140.0M | $211.0M | ||
| Q2 25 | $146.8M | $178.9M | ||
| Q1 25 | $142.0M | $1.2B | ||
| Q4 24 | $145.3M | $213.2M | ||
| Q3 24 | $143.4M | $196.8M | ||
| Q2 24 | $152.0M | $186.7M | ||
| Q1 24 | $152.0M | $210.1M |
| Q4 25 | — | $-135.0M | ||
| Q3 25 | $-58.2M | $15.9M | ||
| Q2 25 | $-54.2M | $-64.8M | ||
| Q1 25 | $-46.0M | $866.6M | ||
| Q4 24 | $-67.4M | $-65.9M | ||
| Q3 24 | $-44.8M | $-106.7M | ||
| Q2 24 | $-39.4M | $-99.2M | ||
| Q1 24 | $-38.3M | $-91.6M |
| Q4 25 | — | -43.3% | ||
| Q3 25 | -12.4% | 1.4% | ||
| Q2 25 | -10.6% | -19.5% | ||
| Q1 25 | -6.0% | 82.5% | ||
| Q4 24 | -27.1% | -76.2% | ||
| Q3 24 | -6.2% | -27.7% | ||
| Q2 24 | -1.8% | -21.5% | ||
| Q1 24 | -0.9% | -21.6% |
| Q4 25 | — | -82.0% | ||
| Q3 25 | -41.6% | 7.5% | ||
| Q2 25 | -36.9% | -36.3% | ||
| Q1 25 | -32.4% | 73.7% | ||
| Q4 24 | -46.4% | -30.9% | ||
| Q3 24 | -31.2% | -54.2% | ||
| Q2 24 | -25.9% | -53.1% | ||
| Q1 24 | -25.2% | -43.6% |
| Q4 25 | — | $-1.63 | ||
| Q3 25 | $-3.39 | $0.20 | ||
| Q2 25 | $-3.17 | $-0.83 | ||
| Q1 25 | $-2.73 | $10.04 | ||
| Q4 24 | $-4.06 | $-0.85 | ||
| Q3 24 | $-2.74 | $-1.39 | ||
| Q2 24 | $-2.43 | $-1.29 | ||
| Q1 24 | $-2.37 | $-1.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.9B |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $-205.3M |
| Total Assets | $1.2B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $884.8M |
| 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 | — |
| Q4 25 | — | $-205.3M | ||
| Q3 25 | $-585.8M | $-155.8M | ||
| Q2 25 | $-536.5M | $-206.5M | ||
| Q1 25 | $-493.9M | $-185.8M | ||
| Q4 24 | $-455.7M | $-1.1B | ||
| Q3 24 | $-386.1M | $-1.1B | ||
| Q2 24 | $-338.6M | $-980.2M | ||
| Q1 24 | $-296.8M | $-893.9M |
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.2B | $2.6B | ||
| Q2 25 | $1.2B | $2.6B | ||
| Q1 25 | $1.3B | $2.7B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.4B | $1.9B | ||
| Q1 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 | $-34.3M |
| Free Cash FlowOCF − Capex | $-16.9M | $-36.6M |
| FCF MarginFCF / Revenue | -12.1% | -22.3% |
| Capex IntensityCapex / Revenue | 1.7% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $702.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-34.3M | ||
| Q3 25 | $-14.5M | $-66.3M | ||
| Q2 25 | $-26.9M | $-58.3M | ||
| Q1 25 | $-13.2M | $870.1M | ||
| Q4 24 | $-10.4M | $-30.0M | ||
| Q3 24 | $-3.2M | $-77.0M | ||
| Q2 24 | $-14.2M | $-71.5M | ||
| Q1 24 | $-28.4M | $70.8M |
| Q4 25 | — | $-36.6M | ||
| Q3 25 | $-16.9M | $-69.7M | ||
| Q2 25 | $-29.3M | $-59.6M | ||
| Q1 25 | $-17.8M | $868.4M | ||
| Q4 24 | $-11.0M | $-33.8M | ||
| Q3 24 | $-11.1M | $-77.5M | ||
| Q2 24 | $-24.4M | $-78.8M | ||
| Q1 24 | $-32.5M | $61.2M |
| Q4 25 | — | -22.3% | ||
| Q3 25 | -12.1% | -33.1% | ||
| Q2 25 | -20.0% | -33.3% | ||
| Q1 25 | -12.5% | 73.8% | ||
| Q4 24 | -7.6% | -15.8% | ||
| Q3 24 | -7.7% | -39.4% | ||
| Q2 24 | -16.1% | -42.2% | ||
| Q1 24 | -21.4% | 29.1% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | 1.7% | 1.6% | ||
| Q2 25 | 1.6% | 0.7% | ||
| Q1 25 | 3.2% | 0.1% | ||
| Q4 24 | 0.4% | 1.8% | ||
| Q3 24 | 5.5% | 0.3% | ||
| Q2 24 | 6.7% | 4.0% | ||
| Q1 24 | 2.7% | 4.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | -4.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.00× | ||
| 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% |
PTCT
Segment breakdown not available.
