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Side-by-side financial comparison of Fat Brands, Inc (FAT) and WORKIVA INC (WK). Click either name above to swap in a different company.
WORKIVA INC is the larger business by last-quarter revenue ($238.9M vs $140.0M, roughly 1.7× Fat Brands, Inc). WORKIVA INC runs the higher net margin — 4.9% vs -41.6%, a 46.5% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.5% vs -2.3%). WORKIVA INC produced more free cash flow last quarter ($50.7M vs $-16.9M). Over the past eight quarters, WORKIVA INC's revenue compounded faster (16.6% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
FAT vs WK — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $238.9M |
| Net Profit | $-58.2M | $11.8M |
| Gross Margin | — | 80.7% |
| Operating Margin | -12.4% | 3.3% |
| Net Margin | -41.6% | 4.9% |
| Revenue YoY | -2.3% | 19.5% |
| Net Profit YoY | -30.1% | 234.0% |
| EPS (diluted) | $-3.39 | $0.21 |
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 | — | $238.9M | ||
| Q3 25 | $140.0M | $224.2M | ||
| Q2 25 | $146.8M | $215.2M | ||
| Q1 25 | $142.0M | $206.3M | ||
| Q4 24 | $145.3M | $199.9M | ||
| Q3 24 | $143.4M | $185.6M | ||
| Q2 24 | $152.0M | $177.5M | ||
| Q1 24 | $152.0M | $175.7M |
| Q4 25 | — | $11.8M | ||
| Q3 25 | $-58.2M | $2.8M | ||
| Q2 25 | $-54.2M | $-19.4M | ||
| Q1 25 | $-46.0M | $-21.4M | ||
| Q4 24 | $-67.4M | $-8.8M | ||
| Q3 24 | $-44.8M | $-17.0M | ||
| Q2 24 | $-39.4M | $-17.5M | ||
| Q1 24 | $-38.3M | $-11.7M |
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 76.6% | ||
| Q4 24 | — | 77.1% | ||
| Q3 24 | — | 76.5% | ||
| Q2 24 | — | 76.8% | ||
| Q1 24 | — | 76.4% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | -12.4% | -1.5% | ||
| Q2 25 | -10.6% | -10.3% | ||
| Q1 25 | -6.0% | -12.0% | ||
| Q4 24 | -27.1% | -6.7% | ||
| Q3 24 | -6.2% | -11.7% | ||
| Q2 24 | -1.8% | -13.0% | ||
| Q1 24 | -0.9% | -10.4% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | -41.6% | 1.2% | ||
| Q2 25 | -36.9% | -9.0% | ||
| Q1 25 | -32.4% | -10.4% | ||
| Q4 24 | -46.4% | -4.4% | ||
| Q3 24 | -31.2% | -9.2% | ||
| Q2 24 | -25.9% | -9.9% | ||
| Q1 24 | -25.2% | -6.7% |
| Q4 25 | — | $0.21 | ||
| Q3 25 | $-3.39 | $0.05 | ||
| Q2 25 | $-3.17 | $-0.35 | ||
| Q1 25 | $-2.73 | $-0.38 | ||
| Q4 24 | $-4.06 | $-0.15 | ||
| Q3 24 | $-2.74 | $-0.31 | ||
| Q2 24 | $-2.43 | $-0.32 | ||
| Q1 24 | $-2.37 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $338.8M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $-5.4M |
| Total Assets | $1.2B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $338.8M | ||
| Q3 25 | — | $315.9M | ||
| Q2 25 | — | $284.3M | ||
| Q1 25 | — | $242.0M | ||
| Q4 24 | — | $301.8M | ||
| Q3 24 | — | $248.2M | ||
| Q2 24 | — | $267.9M | ||
| Q1 24 | — | $296.1M |
| 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 | — | $-5.4M | ||
| Q3 25 | $-585.8M | $-36.9M | ||
| Q2 25 | $-536.5M | $-66.5M | ||
| Q1 25 | $-493.9M | $-75.7M | ||
| Q4 24 | $-455.7M | $-41.7M | ||
| Q3 24 | $-386.1M | $-50.8M | ||
| Q2 24 | $-338.6M | $-77.7M | ||
| Q1 24 | $-296.8M | $-83.2M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
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 | $51.0M |
| Free Cash FlowOCF − Capex | $-16.9M | $50.7M |
| FCF MarginFCF / Revenue | -12.1% | 21.2% |
| Capex IntensityCapex / Revenue | 1.7% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $51.0M | ||
| Q3 25 | $-14.5M | $46.2M | ||
| Q2 25 | $-26.9M | $50.3M | ||
| Q1 25 | $-13.2M | $-7.4M | ||
| Q4 24 | $-10.4M | $44.0M | ||
| Q3 24 | $-3.2M | $18.9M | ||
| Q2 24 | $-14.2M | $-14.0K | ||
| Q1 24 | $-28.4M | $24.8M |
| Q4 25 | — | $50.7M | ||
| Q3 25 | $-16.9M | $46.1M | ||
| Q2 25 | $-29.3M | $49.3M | ||
| Q1 25 | $-17.8M | $-8.1M | ||
| Q4 24 | $-11.0M | $43.2M | ||
| Q3 24 | $-11.1M | $18.7M | ||
| Q2 24 | $-24.4M | $-122.0K | ||
| Q1 24 | $-32.5M | $24.6M |
| Q4 25 | — | 21.2% | ||
| Q3 25 | -12.1% | 20.5% | ||
| Q2 25 | -20.0% | 22.9% | ||
| Q1 25 | -12.5% | -3.9% | ||
| Q4 24 | -7.6% | 21.6% | ||
| Q3 24 | -7.7% | 10.1% | ||
| Q2 24 | -16.1% | -0.1% | ||
| Q1 24 | -21.4% | 14.0% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.7% | 0.0% | ||
| Q2 25 | 1.6% | 0.5% | ||
| Q1 25 | 3.2% | 0.4% | ||
| Q4 24 | 0.4% | 0.4% | ||
| Q3 24 | 5.5% | 0.1% | ||
| Q2 24 | 6.7% | 0.1% | ||
| Q1 24 | 2.7% | 0.1% |
| Q4 25 | — | 4.31× | ||
| Q3 25 | — | 16.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
