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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Shutterstock, Inc. (SSTK). Click either name above to swap in a different company.
Shutterstock, Inc. is the larger business by last-quarter revenue ($220.2M vs $140.0M, roughly 1.6× Fat Brands, Inc). Shutterstock, Inc. runs the higher net margin — -7.3% vs -41.6%, a 34.3% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -12.0%). Shutterstock, Inc. produced more free cash flow last quarter ($25.9M vs $-16.9M). Over the past eight quarters, Shutterstock, Inc.'s revenue compounded faster (1.4% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Shutterstock, Inc. is an American provider of stock photography, stock footage, stock music, and editing tools; it is headquartered in New York. Founded in 2002 by programmer and photographer Jon Oringer, Shutterstock maintains a library of around 200 million royalty-free stock photos, vector graphics, and illustrations, with around 10 million video clips and music tracks available for licensing. Originally a subscription site only, Shutterstock expanded beyond subscriptions into à la carte p...
FAT vs SSTK — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $220.2M |
| Net Profit | $-58.2M | $-16.0M |
| Gross Margin | — | 55.8% |
| Operating Margin | -12.4% | -1.1% |
| Net Margin | -41.6% | -7.3% |
| Revenue YoY | -2.3% | -12.0% |
| Net Profit YoY | -30.1% | -1021.0% |
| EPS (diluted) | $-3.39 | $-0.47 |
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 | — | $220.2M | ||
| Q3 25 | $140.0M | $260.1M | ||
| Q2 25 | $146.8M | $267.0M | ||
| Q1 25 | $142.0M | $242.6M | ||
| Q4 24 | $145.3M | $250.3M | ||
| Q3 24 | $143.4M | $250.6M | ||
| Q2 24 | $152.0M | $220.1M | ||
| Q1 24 | $152.0M | $214.3M |
| Q4 25 | — | $-16.0M | ||
| Q3 25 | $-58.2M | $13.4M | ||
| Q2 25 | $-54.2M | $29.4M | ||
| Q1 25 | $-46.0M | $18.7M | ||
| Q4 24 | $-67.4M | $-1.4M | ||
| Q3 24 | $-44.8M | $17.6M | ||
| Q2 24 | $-39.4M | $3.6M | ||
| Q1 24 | $-38.3M | $16.1M |
| Q4 25 | — | 55.8% | ||
| Q3 25 | — | 60.6% | ||
| Q2 25 | — | 60.3% | ||
| Q1 25 | — | 58.4% | ||
| Q4 24 | — | 55.1% | ||
| Q3 24 | — | 58.3% | ||
| Q2 24 | — | 58.5% | ||
| Q1 24 | — | 58.8% |
| Q4 25 | — | -1.1% | ||
| Q3 25 | -12.4% | 12.5% | ||
| Q2 25 | -10.6% | 13.0% | ||
| Q1 25 | -6.0% | 4.2% | ||
| Q4 24 | -27.1% | 5.3% | ||
| Q3 24 | -6.2% | 7.2% | ||
| Q2 24 | -1.8% | 9.4% | ||
| Q1 24 | -0.9% | 7.8% |
| Q4 25 | — | -7.3% | ||
| Q3 25 | -41.6% | 5.1% | ||
| Q2 25 | -36.9% | 11.0% | ||
| Q1 25 | -32.4% | 7.7% | ||
| Q4 24 | -46.4% | -0.6% | ||
| Q3 24 | -31.2% | 7.0% | ||
| Q2 24 | -25.9% | 1.6% | ||
| Q1 24 | -25.2% | 7.5% |
| Q4 25 | — | $-0.47 | ||
| Q3 25 | $-3.39 | $0.37 | ||
| Q2 25 | $-3.17 | $0.82 | ||
| Q1 25 | $-2.73 | $0.53 | ||
| Q4 24 | $-4.06 | $-0.04 | ||
| Q3 24 | $-2.74 | $0.50 | ||
| Q2 24 | $-2.43 | $0.10 | ||
| Q1 24 | $-2.37 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $178.2M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $581.0M |
| Total Assets | $1.2B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $178.2M | ||
| Q3 25 | — | $165.5M | ||
| Q2 25 | — | $116.4M | ||
| Q1 25 | — | $112.2M | ||
| Q4 24 | — | $111.3M | ||
| Q3 24 | — | $131.4M | ||
| Q2 24 | — | $74.9M | ||
| Q1 24 | — | $71.8M |
| 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 | — | $581.0M | ||
| Q3 25 | $-585.8M | $594.4M | ||
| Q2 25 | $-536.5M | $586.2M | ||
| Q1 25 | $-493.9M | $547.2M | ||
| Q4 24 | $-455.7M | $518.4M | ||
| Q3 24 | $-386.1M | $522.9M | ||
| Q2 24 | $-338.6M | $520.4M | ||
| Q1 24 | $-296.8M | $541.3M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | $1.4B | $1.0B |
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 | $36.2M |
| Free Cash FlowOCF − Capex | $-16.9M | $25.9M |
| FCF MarginFCF / Revenue | -12.1% | 11.8% |
| Capex IntensityCapex / Revenue | 1.7% | 4.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $123.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $36.2M | ||
| Q3 25 | $-14.5M | $78.4M | ||
| Q2 25 | $-26.9M | $26.8M | ||
| Q1 25 | $-13.2M | $25.2M | ||
| Q4 24 | $-10.4M | $8.0M | ||
| Q3 24 | $-3.2M | $-11.6M | ||
| Q2 24 | $-14.2M | $28.0M | ||
| Q1 24 | $-28.4M | $8.3M |
| Q4 25 | — | $25.9M | ||
| Q3 25 | $-16.9M | $68.0M | ||
| Q2 25 | $-29.3M | $15.5M | ||
| Q1 25 | $-17.8M | $14.4M | ||
| Q4 24 | $-11.0M | $-952.0K | ||
| Q3 24 | $-11.1M | $-26.3M | ||
| Q2 24 | $-24.4M | $18.9M | ||
| Q1 24 | $-32.5M | $-6.2M |
| Q4 25 | — | 11.8% | ||
| Q3 25 | -12.1% | 26.1% | ||
| Q2 25 | -20.0% | 5.8% | ||
| Q1 25 | -12.5% | 6.0% | ||
| Q4 24 | -7.6% | -0.4% | ||
| Q3 24 | -7.7% | -10.5% | ||
| Q2 24 | -16.1% | 8.6% | ||
| Q1 24 | -21.4% | -2.9% |
| Q4 25 | — | 4.7% | ||
| Q3 25 | 1.7% | 4.0% | ||
| Q2 25 | 1.6% | 4.2% | ||
| Q1 25 | 3.2% | 4.5% | ||
| Q4 24 | 0.4% | 3.6% | ||
| Q3 24 | 5.5% | 5.9% | ||
| Q2 24 | 6.7% | 4.1% | ||
| Q1 24 | 2.7% | 6.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.86× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 1.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.66× | ||
| Q2 24 | — | 7.71× | ||
| Q1 24 | — | 0.51× |
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% |
SSTK
Segment breakdown not available.
