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Side-by-side financial comparison of Fat Brands, Inc (FAT) and STAG Industrial, Inc. (STAG). Click either name above to swap in a different company.
STAG Industrial, Inc. is the larger business by last-quarter revenue ($224.2M vs $140.0M, roughly 1.6× Fat Brands, Inc). STAG Industrial, Inc. runs the higher net margin — 27.6% vs -41.6%, a 69.2% gap on every dollar of revenue. On growth, STAG Industrial, Inc. posted the faster year-over-year revenue change (9.1% vs -2.3%). Over the past eight quarters, STAG Industrial, Inc.'s revenue compounded faster (8.7% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Stag Arms is a firearms manufacturer founded in May 2003 and located in Cheyenne, Wyoming. Stag Arms is a manufacturer of the AR-15 type rifle, marketed as Stag-15 rifles. Stag advertises that all their weapons and accessories are made in the United States. They are best known for their left-handed AR-15 rifles, which use a mirror imaged upper receiver and have the ejection port reversed for left-handed shooters and the safety selector control on the right side of the lower receiver.
FAT vs STAG — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $224.2M |
| Net Profit | $-58.2M | $62.0M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | — |
| Net Margin | -41.6% | 27.6% |
| Revenue YoY | -2.3% | 9.1% |
| Net Profit YoY | -30.1% | -32.2% |
| EPS (diluted) | $-3.39 | $0.32 |
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.
| Q1 26 | — | $224.2M | ||
| Q4 25 | — | $220.9M | ||
| Q3 25 | $140.0M | $211.1M | ||
| Q2 25 | $146.8M | $207.6M | ||
| Q1 25 | $142.0M | $205.6M | ||
| Q4 24 | $145.3M | $199.3M | ||
| Q3 24 | $143.4M | $190.7M | ||
| Q2 24 | $152.0M | $189.8M |
| Q1 26 | — | $62.0M | ||
| Q4 25 | — | $83.5M | ||
| Q3 25 | $-58.2M | $48.6M | ||
| Q2 25 | $-54.2M | $50.0M | ||
| Q1 25 | $-46.0M | $91.4M | ||
| Q4 24 | $-67.4M | $51.0M | ||
| Q3 24 | $-44.8M | $41.9M | ||
| Q2 24 | $-39.4M | $59.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -12.4% | — | ||
| Q2 25 | -10.6% | — | ||
| Q1 25 | -6.0% | — | ||
| Q4 24 | -27.1% | — | ||
| Q3 24 | -6.2% | — | ||
| Q2 24 | -1.8% | — |
| Q1 26 | — | 27.6% | ||
| Q4 25 | — | 37.8% | ||
| Q3 25 | -41.6% | 23.0% | ||
| Q2 25 | -36.9% | 24.1% | ||
| Q1 25 | -32.4% | 44.5% | ||
| Q4 24 | -46.4% | 25.6% | ||
| Q3 24 | -31.2% | 21.9% | ||
| Q2 24 | -25.9% | 31.5% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | — | — | ||
| Q3 25 | $-3.39 | — | ||
| Q2 25 | $-3.17 | — | ||
| Q1 25 | $-2.73 | — | ||
| Q4 24 | $-4.06 | — | ||
| Q3 24 | $-2.74 | — | ||
| Q2 24 | $-2.43 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $8.9M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $3.6B |
| Total Assets | $1.2B | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.9M | ||
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $17.3M | ||
| Q2 25 | — | $15.4M | ||
| Q1 25 | — | $9.3M | ||
| Q4 24 | — | $36.3M | ||
| Q3 24 | — | $70.0M | ||
| Q2 24 | — | $33.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | $1.3B | $3.1B | ||
| Q2 25 | $1.3B | $3.0B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $1.3B | $3.0B | ||
| Q3 24 | $1.2B | $2.9B | ||
| Q2 24 | $1.2B | $2.8B |
| Q1 26 | — | $3.6B | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $-585.8M | $3.4B | ||
| Q2 25 | $-536.5M | $3.4B | ||
| Q1 25 | $-493.9M | $3.5B | ||
| Q4 24 | $-455.7M | $3.5B | ||
| Q3 24 | $-386.1M | $3.3B | ||
| Q2 24 | $-338.6M | $3.3B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | $1.2B | $6.9B | ||
| Q2 25 | $1.2B | $6.8B | ||
| Q1 25 | $1.3B | $6.8B | ||
| Q4 24 | $1.3B | $6.8B | ||
| Q3 24 | $1.3B | $6.6B | ||
| Q2 24 | $1.4B | $6.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.89× | ||
| Q2 24 | — | 0.84× |
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 | — |
| Free Cash FlowOCF − Capex | $-16.9M | — |
| FCF MarginFCF / Revenue | -12.1% | — |
| Capex IntensityCapex / Revenue | 1.7% | 3.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $104.5M | ||
| Q3 25 | $-14.5M | $143.5M | ||
| Q2 25 | $-26.9M | $111.9M | ||
| Q1 25 | $-13.2M | $103.5M | ||
| Q4 24 | $-10.4M | $104.9M | ||
| Q3 24 | $-3.2M | $128.0M | ||
| Q2 24 | $-14.2M | $122.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $43.8M | ||
| Q3 25 | $-16.9M | $95.5M | ||
| Q2 25 | $-29.3M | $62.3M | ||
| Q1 25 | $-17.8M | $57.2M | ||
| Q4 24 | $-11.0M | $37.6M | ||
| Q3 24 | $-11.1M | $86.7M | ||
| Q2 24 | $-24.4M | $105.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | -12.1% | 45.2% | ||
| Q2 25 | -20.0% | 30.0% | ||
| Q1 25 | -12.5% | 27.8% | ||
| Q4 24 | -7.6% | 18.8% | ||
| Q3 24 | -7.7% | 45.5% | ||
| Q2 24 | -16.1% | 55.3% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | — | 27.4% | ||
| Q3 25 | 1.7% | 22.7% | ||
| Q2 25 | 1.6% | 23.9% | ||
| Q1 25 | 3.2% | 22.5% | ||
| Q4 24 | 0.4% | 33.8% | ||
| Q3 24 | 5.5% | 21.6% | ||
| Q2 24 | 6.7% | 9.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.24× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | — | 2.04× |
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% |
STAG
Segment breakdown not available.
