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Fat Brands, Inc（FAT）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
Fat Brands, Inc的季度营收约是null的1.4倍（$140.0M vs $100.0M），null净利率更高（-7.0% vs -41.6%，领先34.6%），null同比增速更快（14.5% vs -2.3%），null自由现金流更多（$14.1M vs $-16.9M），过去两年null的营收复合增速更高（-4.9% 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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
FAT vs SWIM — 直观对比
营收规模更大
FAT
是对方的1.4倍
$100.0M
营收增速更快
SWIM
高出16.9%
-2.3%
净利率更高
SWIM
高出34.6%
-41.6%
自由现金流更多
SWIM
多$31.0M
$-16.9M
两年增速更快
SWIM
近两年复合增速
-6.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.0M | $100.0M |
| 净利润 | $-58.2M | $-7.0M |
| 毛利率 | — | 28.0% |
| 营业利润率 | -12.4% | -10.7% |
| 净利率 | -41.6% | -7.0% |
| 营收同比 | -2.3% | 14.5% |
| 净利润同比 | -30.1% | 76.0% |
| 每股收益（稀释后） | $-3.39 | $-0.06 |
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FATSWIM
| Q4 25 | — | $100.0M | ||
| Q3 25 | $140.0M | $161.9M | ||
| Q2 25 | $146.8M | $172.6M | ||
| Q1 25 | $142.0M | $111.4M | ||
| Q4 24 | $145.3M | $87.3M | ||
| Q3 24 | $143.4M | $150.5M | ||
| Q2 24 | $152.0M | $160.1M | ||
| Q1 24 | $152.0M | $110.6M |
净利润FATSWIM
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-58.2M | $8.1M | ||
| Q2 25 | $-54.2M | $16.0M | ||
| Q1 25 | $-46.0M | $-6.0M | ||
| Q4 24 | $-67.4M | $-29.2M | ||
| Q3 24 | $-44.8M | $5.9M | ||
| Q2 24 | $-39.4M | $13.3M | ||
| Q1 24 | $-38.3M | $-7.9M |
毛利率FATSWIM
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
营业利润率FATSWIM
| Q4 25 | — | -10.7% | ||
| Q3 25 | -12.4% | 13.3% | ||
| Q2 25 | -10.6% | 14.3% | ||
| Q1 25 | -6.0% | -4.4% | ||
| Q4 24 | -27.1% | -14.9% | ||
| Q3 24 | -6.2% | 8.9% | ||
| Q2 24 | -1.8% | 12.5% | ||
| Q1 24 | -0.9% | -1.9% |
净利率FATSWIM
| Q4 25 | — | -7.0% | ||
| Q3 25 | -41.6% | 5.0% | ||
| Q2 25 | -36.9% | 9.3% | ||
| Q1 25 | -32.4% | -5.4% | ||
| Q4 24 | -46.4% | -33.4% | ||
| Q3 24 | -31.2% | 3.9% | ||
| Q2 24 | -25.9% | 8.3% | ||
| Q1 24 | -25.2% | -7.1% |
每股收益（稀释后）FATSWIM
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $-3.39 | $0.07 | ||
| Q2 25 | $-3.17 | $0.13 | ||
| Q1 25 | $-2.73 | $-0.05 | ||
| Q4 24 | $-4.06 | $-0.24 | ||
| Q3 24 | $-2.74 | $0.05 | ||
| Q2 24 | $-2.43 | $0.11 | ||
| Q1 24 | $-2.37 | $-0.07 |
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 | — | — |
| 总债务越低越好 | $1.3B | $279.8M |
| 股东权益账面价值 | $-585.8M | $405.9M |
| 总资产 | $1.2B | $823.2M |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
总债务FATSWIM
| Q4 25 | — | $279.8M | ||
| Q3 25 | $1.3B | $281.1M | ||
| Q2 25 | $1.3B | $281.5M | ||
| Q1 25 | $1.3B | $306.9M | ||
| Q4 24 | $1.3B | $281.5M | ||
| Q3 24 | $1.2B | $282.8M | ||
| Q2 24 | $1.2B | $282.4M | ||
| Q1 24 | $1.2B | $282.8M |
股东权益FATSWIM
| Q4 25 | — | $405.9M | ||
| Q3 25 | $-585.8M | $408.4M | ||
| Q2 25 | $-536.5M | $398.4M | ||
| Q1 25 | $-493.9M | $381.1M | ||
| Q4 24 | $-455.7M | $387.2M | ||
| Q3 24 | $-386.1M | $416.6M | ||
| Q2 24 | $-338.6M | $408.1M | ||
| Q1 24 | $-296.8M | $391.8M |
总资产FATSWIM
| Q4 25 | — | $823.2M | ||
| Q3 25 | $1.2B | $844.4M | ||
| Q2 25 | $1.2B | $822.1M | ||
| Q1 25 | $1.3B | $824.6M | ||
| Q4 24 | $1.3B | $794.2M | ||
| Q3 24 | $1.3B | $853.4M | ||
| Q2 24 | $1.4B | $830.0M | ||
| Q1 24 | $1.4B | $808.6M |
负债/权益比FATSWIM
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-16.9M | $14.1M |
| 自由现金流率自由现金流/营收 | -12.1% | 14.1% |
| 资本支出强度资本支出/营收 | 1.7% | 9.2% |
| 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 | $38.0M |
8季度趋势，按日历期对齐
经营现金流FATSWIM
| Q4 25 | — | $23.3M | ||
| Q3 25 | $-14.5M | $51.0M | ||
| Q2 25 | $-26.9M | $36.0M | ||
| Q1 25 | $-13.2M | $-46.9M | ||
| Q4 24 | $-10.4M | $6.2M | ||
| Q3 24 | $-3.2M | $37.2M | ||
| Q2 24 | $-14.2M | $52.4M | ||
| Q1 24 | $-28.4M | $-34.5M |
自由现金流FATSWIM
| Q4 25 | — | $14.1M | ||
| Q3 25 | $-16.9M | $45.2M | ||
| Q2 25 | $-29.3M | $29.1M | ||
| Q1 25 | $-17.8M | $-50.3M | ||
| Q4 24 | $-11.0M | $-98.0K | ||
| Q3 24 | $-11.1M | $33.2M | ||
| Q2 24 | $-24.4M | $47.9M | ||
| Q1 24 | $-32.5M | $-39.9M |
自由现金流率FATSWIM
| Q4 25 | — | 14.1% | ||
| Q3 25 | -12.1% | 27.9% | ||
| Q2 25 | -20.0% | 16.8% | ||
| Q1 25 | -12.5% | -45.2% | ||
| Q4 24 | -7.6% | -0.1% | ||
| Q3 24 | -7.7% | 22.1% | ||
| Q2 24 | -16.1% | 29.9% | ||
| Q1 24 | -21.4% | -36.0% |
资本支出强度FATSWIM
| Q4 25 | — | 9.2% | ||
| Q3 25 | 1.7% | 3.6% | ||
| Q2 25 | 1.6% | 4.0% | ||
| Q1 25 | 3.2% | 3.1% | ||
| Q4 24 | 0.4% | 7.2% | ||
| Q3 24 | 5.5% | 2.7% | ||
| Q2 24 | 6.7% | 2.8% | ||
| Q1 24 | 2.7% | 4.8% |
现金转化率FATSWIM
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
