vs
Side-by-side financial comparison of Fat Brands, Inc (FAT) and TRIMAS CORP (TRS). Click either name above to swap in a different company.
TRIMAS CORP is the larger business by last-quarter revenue ($256.5M vs $140.0M, roughly 1.8× Fat Brands, Inc). TRIMAS CORP runs the higher net margin — 31.9% vs -41.6%, a 73.4% gap on every dollar of revenue. On growth, TRIMAS CORP posted the faster year-over-year revenue change (3.8% vs -2.3%). TRIMAS CORP produced more free cash flow last quarter ($36.8M vs $-16.9M). Over the past eight quarters, TRIMAS CORP's revenue compounded faster (3.3% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Trimas Corp is a diversified industrial manufacturing enterprise that designs, produces and distributes a wide portfolio of engineered products, including specialized fasteners, aerospace components, custom packaging solutions, and consumer & industrial hardware. It primarily serves aerospace, automotive, construction, consumer goods and industrial sectors, with core operations across North America and selected global markets.
FAT vs TRS — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $256.5M |
| Net Profit | $-58.2M | $81.7M |
| Gross Margin | — | 12.8% |
| Operating Margin | -12.4% | 5.7% |
| Net Margin | -41.6% | 31.9% |
| Revenue YoY | -2.3% | 3.8% |
| Net Profit YoY | -30.1% | 236.9% |
| EPS (diluted) | $-3.39 | $2.03 |
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 | — | $256.5M | ||
| Q4 25 | — | $-140.0M | ||
| Q3 25 | $140.0M | $269.3M | ||
| Q2 25 | $146.8M | $274.8M | ||
| Q1 25 | $142.0M | $241.7M | ||
| Q4 24 | $145.3M | $-66.2M | ||
| Q3 24 | $143.4M | $229.4M | ||
| Q2 24 | $152.0M | $240.5M |
| Q1 26 | — | $81.7M | ||
| Q4 25 | — | $81.7M | ||
| Q3 25 | $-58.2M | $9.3M | ||
| Q2 25 | $-54.2M | $16.7M | ||
| Q1 25 | $-46.0M | $12.4M | ||
| Q4 24 | $-67.4M | $5.6M | ||
| Q3 24 | $-44.8M | $2.5M | ||
| Q2 24 | $-39.4M | $10.9M |
| Q1 26 | — | 12.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 12.8% | ||
| Q2 25 | — | 13.8% | ||
| Q1 25 | — | 13.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.4% | ||
| Q2 24 | — | 14.4% |
| Q1 26 | — | 5.7% | ||
| Q4 25 | — | — | ||
| Q3 25 | -12.4% | 6.2% | ||
| Q2 25 | -10.6% | 9.9% | ||
| Q1 25 | -6.0% | 9.0% | ||
| Q4 24 | -27.1% | — | ||
| Q3 24 | -6.2% | 3.6% | ||
| Q2 24 | -1.8% | 7.4% |
| Q1 26 | — | 31.9% | ||
| Q4 25 | — | -58.4% | ||
| Q3 25 | -41.6% | 3.5% | ||
| Q2 25 | -36.9% | 6.1% | ||
| Q1 25 | -32.4% | 5.1% | ||
| Q4 24 | -46.4% | -8.5% | ||
| Q3 24 | -31.2% | 1.1% | ||
| Q2 24 | -25.9% | 4.5% |
| Q1 26 | — | $2.03 | ||
| Q4 25 | — | $2.01 | ||
| Q3 25 | $-3.39 | $0.23 | ||
| Q2 25 | $-3.17 | $0.41 | ||
| Q1 25 | $-2.73 | $0.30 | ||
| Q4 24 | $-4.06 | $0.14 | ||
| Q3 24 | $-2.74 | $0.06 | ||
| Q2 24 | $-2.43 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $30.0M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $705.6M |
| Total Assets | $1.2B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $30.0M | ||
| Q4 25 | — | $30.0M | ||
| Q3 25 | — | $33.6M | ||
| Q2 25 | — | $30.3M | ||
| Q1 25 | — | $32.7M | ||
| Q4 24 | — | $23.1M | ||
| Q3 24 | — | $26.9M | ||
| Q2 24 | — | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $469.2M | ||
| Q3 25 | $1.3B | $407.1M | ||
| Q2 25 | $1.3B | $424.5M | ||
| Q1 25 | $1.3B | $434.2M | ||
| Q4 24 | $1.3B | $398.1M | ||
| Q3 24 | $1.2B | $409.9M | ||
| Q2 24 | $1.2B | $427.4M |
| Q1 26 | — | $705.6M | ||
| Q4 25 | — | $705.6M | ||
| Q3 25 | $-585.8M | $725.0M | ||
| Q2 25 | $-536.5M | $715.3M | ||
| Q1 25 | $-493.9M | $686.6M | ||
| Q4 24 | $-455.7M | $667.3M | ||
| Q3 24 | $-386.1M | $682.8M | ||
| Q2 24 | $-338.6M | $675.9M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.4B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.60× | ||
| Q2 24 | — | 0.63× |
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 | $117.5M |
| Free Cash FlowOCF − Capex | $-16.9M | $36.8M |
| FCF MarginFCF / Revenue | -12.1% | 14.4% |
| Capex IntensityCapex / Revenue | 1.7% | 18.9% |
| Cash ConversionOCF / Net Profit | — | 1.44× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $109.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $117.5M | ||
| Q4 25 | — | $41.5M | ||
| Q3 25 | $-14.5M | $36.5M | ||
| Q2 25 | $-26.9M | $30.3M | ||
| Q1 25 | $-13.2M | $9.2M | ||
| Q4 24 | $-10.4M | $27.1M | ||
| Q3 24 | $-3.2M | $22.0M | ||
| Q2 24 | $-14.2M | $18.4M |
| Q1 26 | — | $36.8M | ||
| Q4 25 | — | $36.8M | ||
| Q3 25 | $-16.9M | $22.8M | ||
| Q2 25 | $-29.3M | $13.2M | ||
| Q1 25 | $-17.8M | $-3.8M | ||
| Q4 24 | $-11.0M | $12.1M | ||
| Q3 24 | $-11.1M | $10.2M | ||
| Q2 24 | $-24.4M | $7.5M |
| Q1 26 | — | 14.4% | ||
| Q4 25 | — | -26.3% | ||
| Q3 25 | -12.1% | 8.5% | ||
| Q2 25 | -20.0% | 4.8% | ||
| Q1 25 | -12.5% | -1.6% | ||
| Q4 24 | -7.6% | -18.3% | ||
| Q3 24 | -7.7% | 4.4% | ||
| Q2 24 | -16.1% | 3.1% |
| Q1 26 | — | 18.9% | ||
| Q4 25 | — | -3.4% | ||
| Q3 25 | 1.7% | 5.1% | ||
| Q2 25 | 1.6% | 6.2% | ||
| Q1 25 | 3.2% | 5.4% | ||
| Q4 24 | 0.4% | -22.6% | ||
| Q3 24 | 5.5% | 5.2% | ||
| Q2 24 | 6.7% | 4.5% |
| Q1 26 | — | 1.44× | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 3.92× | ||
| Q2 25 | — | 1.81× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | — | 8.71× | ||
| Q2 24 | — | 1.68× |
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% |
TRS
Segment breakdown not available.
