vs
Side-by-side financial comparison of Fat Brands, Inc (FAT) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $140.0M, roughly 1.9× Fat Brands, Inc). Smith Douglas Homes Corp. runs the higher net margin — 1.4% vs -41.6%, a 42.9% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -9.4%). Smith Douglas Homes Corp. produced more free cash flow last quarter ($8.7M vs $-16.9M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
FAT vs SDHC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $260.4M |
| Net Profit | $-58.2M | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | -12.4% | 6.5% |
| Net Margin | -41.6% | 1.4% |
| Revenue YoY | -2.3% | -9.4% |
| Net Profit YoY | -30.1% | -14.3% |
| EPS (diluted) | $-3.39 | $0.39 |
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 | — | $260.4M | ||
| Q3 25 | $140.0M | $262.0M | ||
| Q2 25 | $146.8M | $223.9M | ||
| Q1 25 | $142.0M | $224.7M | ||
| Q4 24 | $145.3M | $287.5M | ||
| Q3 24 | $143.4M | $277.8M | ||
| Q2 24 | $152.0M | $220.9M | ||
| Q1 24 | $152.0M | $189.2M |
| Q4 25 | — | $3.5M | ||
| Q3 25 | $-58.2M | $2.1M | ||
| Q2 25 | $-54.2M | $2.4M | ||
| Q1 25 | $-46.0M | $2.7M | ||
| Q4 24 | $-67.4M | $4.1M | ||
| Q3 24 | $-44.8M | $5.3M | ||
| Q2 24 | $-39.4M | $3.6M | ||
| Q1 24 | $-38.3M | $3.0M |
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 25.5% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | — | 26.1% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | -12.4% | 6.6% | ||
| Q2 25 | -10.6% | 7.7% | ||
| Q1 25 | -6.0% | 8.7% | ||
| Q4 24 | -27.1% | 10.4% | ||
| Q3 24 | -6.2% | 14.2% | ||
| Q2 24 | -1.8% | 11.7% | ||
| Q1 24 | -0.9% | 11.3% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | -41.6% | 0.8% | ||
| Q2 25 | -36.9% | 1.1% | ||
| Q1 25 | -32.4% | 1.2% | ||
| Q4 24 | -46.4% | 1.4% | ||
| Q3 24 | -31.2% | 1.9% | ||
| Q2 24 | -25.9% | 1.7% | ||
| Q1 24 | -25.2% | 1.6% |
| Q4 25 | — | $0.39 | ||
| Q3 25 | $-3.39 | $0.24 | ||
| Q2 25 | $-3.17 | $0.26 | ||
| Q1 25 | $-2.73 | $0.30 | ||
| Q4 24 | $-4.06 | $0.50 | ||
| Q3 24 | $-2.74 | $0.58 | ||
| Q2 24 | $-2.43 | $0.40 | ||
| Q1 24 | $-2.37 | $0.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.7M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $86.7M |
| Total Assets | $1.2B | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.7M | ||
| Q3 25 | — | $14.8M | ||
| Q2 25 | — | $16.8M | ||
| Q1 25 | — | $12.7M | ||
| Q4 24 | — | $22.4M | ||
| Q3 24 | — | $23.7M | ||
| Q2 24 | — | $17.3M | ||
| Q1 24 | — | $32.8M |
| 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 | — | $86.7M | ||
| Q3 25 | $-585.8M | $82.2M | ||
| Q2 25 | $-536.5M | $80.0M | ||
| Q1 25 | $-493.9M | $76.9M | ||
| Q4 24 | $-455.7M | $73.6M | ||
| Q3 24 | $-386.1M | $68.4M | ||
| Q2 24 | $-338.6M | $62.1M | ||
| Q1 24 | $-296.8M | $59.7M |
| Q4 25 | — | $557.6M | ||
| Q3 25 | $1.2B | $571.6M | ||
| Q2 25 | $1.2B | $570.2M | ||
| Q1 25 | $1.3B | $513.9M | ||
| Q4 24 | $1.3B | $475.9M | ||
| Q3 24 | $1.3B | $460.1M | ||
| Q2 24 | $1.4B | $429.3M | ||
| Q1 24 | $1.4B | $401.3M |
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 | $9.8M |
| Free Cash FlowOCF − Capex | $-16.9M | $8.7M |
| FCF MarginFCF / Revenue | -12.1% | 3.4% |
| Capex IntensityCapex / Revenue | 1.7% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $9.8M | ||
| Q3 25 | $-14.5M | $22.8M | ||
| Q2 25 | $-26.9M | $-28.9M | ||
| Q1 25 | $-13.2M | $-34.9M | ||
| Q4 24 | $-10.4M | $5.5M | ||
| Q3 24 | $-3.2M | $22.9M | ||
| Q2 24 | $-14.2M | $39.0K | ||
| Q1 24 | $-28.4M | $-9.3M |
| Q4 25 | — | $8.7M | ||
| Q3 25 | $-16.9M | $21.4M | ||
| Q2 25 | $-29.3M | $-31.1M | ||
| Q1 25 | $-17.8M | $-35.9M | ||
| Q4 24 | $-11.0M | $4.8M | ||
| Q3 24 | $-11.1M | $22.3M | ||
| Q2 24 | $-24.4M | $-2.1M | ||
| Q1 24 | $-32.5M | $-9.7M |
| Q4 25 | — | 3.4% | ||
| Q3 25 | -12.1% | 8.2% | ||
| Q2 25 | -20.0% | -13.9% | ||
| Q1 25 | -12.5% | -16.0% | ||
| Q4 24 | -7.6% | 1.7% | ||
| Q3 24 | -7.7% | 8.0% | ||
| Q2 24 | -16.1% | -1.0% | ||
| Q1 24 | -21.4% | -5.1% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | 1.7% | 0.5% | ||
| Q2 25 | 1.6% | 0.9% | ||
| Q1 25 | 3.2% | 0.5% | ||
| Q4 24 | 0.4% | 0.2% | ||
| Q3 24 | 5.5% | 0.2% | ||
| Q2 24 | 6.7% | 1.0% | ||
| Q1 24 | 2.7% | 0.2% |
| Q4 25 | — | 2.77× | ||
| Q3 25 | — | 10.70× | ||
| Q2 25 | — | -12.24× | ||
| Q1 25 | — | -13.01× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | — | 0.01× | ||
| Q1 24 | — | -3.12× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
