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Side-by-side financial comparison of Fat Brands, Inc (FAT) and SunOpta Inc. (STKL). Click either name above to swap in a different company.
SunOpta Inc. is the larger business by last-quarter revenue ($205.4M vs $140.0M, roughly 1.5× Fat Brands, Inc). SunOpta Inc. runs the higher net margin — 0.4% vs -41.6%, a 42.0% gap on every dollar of revenue. On growth, SunOpta Inc. posted the faster year-over-year revenue change (16.6% vs -2.3%). SunOpta Inc. produced more free cash flow last quarter ($12.1M vs $-16.9M). Over the past eight quarters, SunOpta Inc.'s revenue compounded faster (7.4% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
SunOpta, Inc. is a multi-national food and mineral company headquartered in Eden Prairie, Minnesota and founded in 1973 in Canada.
FAT vs STKL — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $205.4M |
| Net Profit | $-58.2M | $816.0K |
| Gross Margin | — | 12.4% |
| Operating Margin | -12.4% | 3.3% |
| Net Margin | -41.6% | 0.4% |
| Revenue YoY | -2.3% | 16.6% |
| Net Profit YoY | -30.1% | 113.1% |
| EPS (diluted) | $-3.39 | $0.01 |
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.
| Q3 25 | $140.0M | $205.4M | ||
| Q2 25 | $146.8M | $191.5M | ||
| Q1 25 | $142.0M | $201.6M | ||
| Q4 24 | $145.3M | $193.9M | ||
| Q3 24 | $143.4M | $175.9M | ||
| Q2 24 | $152.0M | $169.5M | ||
| Q1 24 | $152.0M | $184.4M | ||
| Q4 23 | $158.6M | $178.1M |
| Q3 25 | $-58.2M | $816.0K | ||
| Q2 25 | $-54.2M | $4.4M | ||
| Q1 25 | $-46.0M | $4.8M | ||
| Q4 24 | $-67.4M | $-8.7M | ||
| Q3 24 | $-44.8M | $-6.2M | ||
| Q2 24 | $-39.4M | $-5.3M | ||
| Q1 24 | $-38.3M | $2.9M | ||
| Q4 23 | $-26.2M | $-15.5M |
| Q3 25 | — | 12.4% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | 16.8% | ||
| Q4 23 | — | 14.1% |
| Q3 25 | -12.4% | 3.3% | ||
| Q2 25 | -10.6% | 5.5% | ||
| Q1 25 | -6.0% | 5.2% | ||
| Q4 24 | -27.1% | 1.4% | ||
| Q3 24 | -6.2% | 0.5% | ||
| Q2 24 | -1.8% | 1.2% | ||
| Q1 24 | -0.9% | 5.5% | ||
| Q4 23 | -2.0% | 2.1% |
| Q3 25 | -41.6% | 0.4% | ||
| Q2 25 | -36.9% | 2.3% | ||
| Q1 25 | -32.4% | 2.4% | ||
| Q4 24 | -46.4% | -4.5% | ||
| Q3 24 | -31.2% | -3.5% | ||
| Q2 24 | -25.9% | -3.1% | ||
| Q1 24 | -25.2% | 1.6% | ||
| Q4 23 | -16.5% | -8.7% |
| Q3 25 | $-3.39 | $0.01 | ||
| Q2 25 | $-3.17 | $0.03 | ||
| Q1 25 | $-2.73 | $0.04 | ||
| Q4 24 | $-4.06 | $-0.08 | ||
| Q3 24 | $-2.74 | $-0.05 | ||
| Q2 24 | $-2.43 | $-0.04 | ||
| Q1 24 | $-2.37 | $0.02 | ||
| Q4 23 | $-1.68 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.2M |
| Total DebtLower is stronger | $1.3B | $250.8M |
| Stockholders' EquityBook value | $-585.8M | $162.8M |
| Total Assets | $1.2B | $694.1M |
| Debt / EquityLower = less leverage | — | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $2.2M | ||
| Q2 25 | — | $2.2M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | — | $1.6M | ||
| Q3 24 | — | $2.9M | ||
| Q2 24 | — | $3.2M | ||
| Q1 24 | — | $1.5M | ||
| Q4 23 | — | $306.0K |
| Q3 25 | $1.3B | $250.8M | ||
| Q2 25 | $1.3B | $263.3M | ||
| Q1 25 | $1.3B | $260.6M | ||
| Q4 24 | $1.3B | $265.2M | ||
| Q3 24 | $1.2B | $289.9M | ||
| Q2 24 | $1.2B | $303.1M | ||
| Q1 24 | $1.2B | $258.8M | ||
| Q4 23 | $1.2B | $263.5M |
| Q3 25 | $-585.8M | $162.8M | ||
| Q2 25 | $-536.5M | $159.8M | ||
| Q1 25 | $-493.9M | $154.8M | ||
| Q4 24 | $-455.7M | $148.6M | ||
| Q3 24 | $-386.1M | $155.0M | ||
| Q2 24 | $-338.6M | $158.8M | ||
| Q1 24 | $-296.8M | $163.6M | ||
| Q4 23 | $-255.9M | $156.3M |
| Q3 25 | $1.2B | $694.1M | ||
| Q2 25 | $1.2B | $704.9M | ||
| Q1 25 | $1.3B | $690.7M | ||
| Q4 24 | $1.3B | $668.5M | ||
| Q3 24 | $1.3B | $699.3M | ||
| Q2 24 | $1.4B | $704.7M | ||
| Q1 24 | $1.4B | $671.8M | ||
| Q4 23 | $1.4B | $667.2M |
| Q3 25 | — | 1.54× | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.58× | ||
| Q4 23 | — | 1.69× |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-16.9M | $12.1M |
| FCF MarginFCF / Revenue | -12.1% | 5.9% |
| Capex IntensityCapex / Revenue | 1.7% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 20.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $36.4M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-14.5M | $16.3M | ||
| Q2 25 | $-26.9M | $-4.5M | ||
| Q1 25 | $-13.2M | $22.3M | ||
| Q4 24 | $-10.4M | $33.1M | ||
| Q3 24 | $-3.2M | $17.2M | ||
| Q2 24 | $-14.2M | $-5.6M | ||
| Q1 24 | $-28.4M | $5.3M | ||
| Q4 23 | $-12.6M | $4.4M |
| Q3 25 | $-16.9M | $12.1M | ||
| Q2 25 | $-29.3M | $-9.2M | ||
| Q1 25 | $-17.8M | $9.5M | ||
| Q4 24 | $-11.0M | $24.0M | ||
| Q3 24 | $-11.1M | $11.7M | ||
| Q2 24 | $-24.4M | $-15.3M | ||
| Q1 24 | $-32.5M | $-2.3M | ||
| Q4 23 | $-18.0M | $-3.5M |
| Q3 25 | -12.1% | 5.9% | ||
| Q2 25 | -20.0% | -4.8% | ||
| Q1 25 | -12.5% | 4.7% | ||
| Q4 24 | -7.6% | 12.4% | ||
| Q3 24 | -7.7% | 6.6% | ||
| Q2 24 | -16.1% | -9.0% | ||
| Q1 24 | -21.4% | -1.2% | ||
| Q4 23 | -11.4% | -2.0% |
| Q3 25 | 1.7% | 2.1% | ||
| Q2 25 | 1.6% | 2.5% | ||
| Q1 25 | 3.2% | 6.3% | ||
| Q4 24 | 0.4% | 4.7% | ||
| Q3 24 | 5.5% | 3.2% | ||
| Q2 24 | 6.7% | 5.7% | ||
| Q1 24 | 2.7% | 4.1% | ||
| Q4 23 | 3.4% | 4.5% |
| Q3 25 | — | 20.03× | ||
| Q2 25 | — | -1.03× | ||
| Q1 25 | — | 4.63× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.83× | ||
| Q4 23 | — | — |
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% |
STKL
| Beverages And Broths | $161.4M | 79% |
| Fruit Snacks | $40.9M | 20% |
| Ingredients | $3.1M | 2% |
