vs
Fat Brands, Inc（FAT）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是Fat Brands, Inc的1.3倍（$179.7M vs $140.0M），Rocket Lab Corp净利率更高（-29.5% vs -41.6%，领先12.1%），Rocket Lab Corp同比增速更快（35.7% vs -2.3%），Fat Brands, Inc自由现金流更多（$-16.9M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs -6.1%）
FAT Brands是来自美国的多品牌餐饮与体育酒吧连锁运营商，总部位于加利福尼亚州比弗利山庄，主要开展餐饮品牌的连锁加盟运营业务，旗下涵盖多个餐饮及休闲体育酒吧品牌。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
FAT vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.3倍
$140.0M
营收增速更快
RKLB
高出38.0%
-2.3%
净利率更高
RKLB
高出12.1%
-41.6%
自由现金流更多
FAT
多$97.3M
$-114.2M
两年增速更快
RKLB
近两年复合增速
-6.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.0M | $179.7M |
| 净利润 | $-58.2M | $-52.9M |
| 毛利率 | — | 38.0% |
| 营业利润率 | -12.4% | -28.4% |
| 净利率 | -41.6% | -29.5% |
| 营收同比 | -2.3% | 35.7% |
| 净利润同比 | -30.1% | -1.1% |
| 每股收益（稀释后） | $-3.39 | $-0.09 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FATRKLB
| Q4 25 | — | $179.7M | ||
| Q3 25 | $140.0M | $155.1M | ||
| Q2 25 | $146.8M | $144.5M | ||
| Q1 25 | $142.0M | $122.6M | ||
| Q4 24 | $145.3M | $132.4M | ||
| Q3 24 | $143.4M | $104.8M | ||
| Q2 24 | $152.0M | $106.3M | ||
| Q1 24 | $152.0M | $92.8M |
净利润FATRKLB
| Q4 25 | — | $-52.9M | ||
| Q3 25 | $-58.2M | $-18.3M | ||
| Q2 25 | $-54.2M | $-66.4M | ||
| Q1 25 | $-46.0M | $-60.6M | ||
| Q4 24 | $-67.4M | $-52.3M | ||
| Q3 24 | $-44.8M | $-51.9M | ||
| Q2 24 | $-39.4M | $-41.6M | ||
| Q1 24 | $-38.3M | $-44.3M |
毛利率FATRKLB
| Q4 25 | — | 38.0% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率FATRKLB
| Q4 25 | — | -28.4% | ||
| Q3 25 | -12.4% | -38.0% | ||
| Q2 25 | -10.6% | -41.3% | ||
| Q1 25 | -6.0% | -48.3% | ||
| Q4 24 | -27.1% | -38.9% | ||
| Q3 24 | -6.2% | -49.5% | ||
| Q2 24 | -1.8% | -40.7% | ||
| Q1 24 | -0.9% | -46.4% |
净利率FATRKLB
| Q4 25 | — | -29.5% | ||
| Q3 25 | -41.6% | -11.8% | ||
| Q2 25 | -36.9% | -46.0% | ||
| Q1 25 | -32.4% | -49.5% | ||
| Q4 24 | -46.4% | -39.5% | ||
| Q3 24 | -31.2% | -49.6% | ||
| Q2 24 | -25.9% | -39.2% | ||
| Q1 24 | -25.2% | -47.7% |
每股收益（稀释后）FATRKLB
| Q4 25 | — | $-0.09 | ||
| Q3 25 | $-3.39 | $-0.03 | ||
| Q2 25 | $-3.17 | $-0.13 | ||
| Q1 25 | $-2.73 | $-0.12 | ||
| Q4 24 | $-4.06 | $-0.11 | ||
| Q3 24 | $-2.74 | $-0.10 | ||
| Q2 24 | $-2.43 | $-0.08 | ||
| Q1 24 | $-2.37 | $-0.09 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $1.0B |
| 总债务越低越好 | $1.3B | $152.4M |
| 股东权益账面价值 | $-585.8M | $1.7B |
| 总资产 | $1.2B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资FATRKLB
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $976.7M | ||
| Q2 25 | — | $688.1M | ||
| Q1 25 | — | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $442.4M | ||
| Q2 24 | — | $496.8M | ||
| Q1 24 | — | $492.5M |
总债务FATRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | $1.3B | $347.0M | ||
| Q2 25 | $1.3B | $346.5M | ||
| Q1 25 | $1.3B | $345.9M | ||
| Q4 24 | $1.3B | $345.4M | ||
| Q3 24 | $1.2B | $61.2M | ||
| Q2 24 | $1.2B | $64.2M | ||
| Q1 24 | $1.2B | $66.8M |
股东权益FATRKLB
| Q4 25 | — | $1.7B | ||
| Q3 25 | $-585.8M | $1.3B | ||
| Q2 25 | $-536.5M | $688.5M | ||
| Q1 25 | $-493.9M | $431.3M | ||
| Q4 24 | $-455.7M | $382.5M | ||
| Q3 24 | $-386.1M | $419.8M | ||
| Q2 24 | $-338.6M | $455.2M | ||
| Q1 24 | $-296.8M | $478.9M |
总资产FATRKLB
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
负债/权益比FATRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-14.5M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-16.9M | $-114.2M |
| 自由现金流率自由现金流/营收 | -12.1% | -63.6% |
| 资本支出强度资本支出/营收 | 1.7% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-75.0M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流FATRKLB
| Q4 25 | — | $-64.5M | ||
| Q3 25 | $-14.5M | $-23.5M | ||
| Q2 25 | $-26.9M | $-23.2M | ||
| Q1 25 | $-13.2M | $-54.2M | ||
| Q4 24 | $-10.4M | $-2.4M | ||
| Q3 24 | $-3.2M | $-30.9M | ||
| Q2 24 | $-14.2M | $-13.0M | ||
| Q1 24 | $-28.4M | $-2.6M |
自由现金流FATRKLB
| Q4 25 | — | $-114.2M | ||
| Q3 25 | $-16.9M | $-69.4M | ||
| Q2 25 | $-29.3M | $-55.3M | ||
| Q1 25 | $-17.8M | $-82.9M | ||
| Q4 24 | $-11.0M | $-23.9M | ||
| Q3 24 | $-11.1M | $-41.9M | ||
| Q2 24 | $-24.4M | $-28.3M | ||
| Q1 24 | $-32.5M | $-21.8M |
自由现金流率FATRKLB
| Q4 25 | — | -63.6% | ||
| Q3 25 | -12.1% | -44.8% | ||
| Q2 25 | -20.0% | -38.3% | ||
| Q1 25 | -12.5% | -67.6% | ||
| Q4 24 | -7.6% | -18.1% | ||
| Q3 24 | -7.7% | -40.0% | ||
| Q2 24 | -16.1% | -26.7% | ||
| Q1 24 | -21.4% | -23.5% |
资本支出强度FATRKLB
| Q4 25 | — | 27.6% | ||
| Q3 25 | 1.7% | 29.6% | ||
| Q2 25 | 1.6% | 22.2% | ||
| Q1 25 | 3.2% | 23.4% | ||
| Q4 24 | 0.4% | 16.3% | ||
| Q3 24 | 5.5% | 10.5% | ||
| Q2 24 | 6.7% | 14.4% | ||
| Q1 24 | 2.7% | 20.7% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
