What is FAT Brands' operating income?

FAT Brands' total operating income in 2024 was -$52.22 million, based on the following breakdown: Total Gross Profit: $199.52 million Total Operating Expenses: $251.74 million

FAT Brands (FATBB) Financials

$0.89 0.00 (0.00%)

As of 07/15/2026

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Annual Income Statements for FAT Brands

This table shows FAT Brands' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Net Income / (Loss) Attributable to Common Shareholders	-1.80	-1.02	-15	-32	-133	-97	-198
Consolidated Net Income / (Loss)	-1.80	-1.02	-15	-32	-126	-90	-190
Net Income / (Loss) Continuing Operations	-1.80	-1.02	-15	-32	-126	-90	-190
Total Pre-Tax Income	-2.07	-0.51	-19	-35	-107	-96	-193
Total Operating Income	4.24	5.92	-16	0.82	-18	22	-52
Total Gross Profit	18	23	18	75	186	198	200
Total Revenue	18	23	18	119	407	480	593
Operating Revenue	18	23	18	119	407	480	593
Total Cost of Revenue	0.00	0.00	0.00	44	222	283	393
Operating Cost of Revenue	-	-	0.00	44	222	283	393
Total Operating Expenses	14	17	34	74	204	175	252
Selling, General & Admin Expense	10	12	15	42	113	93	129
Marketing Expense	3.18	4.11	5.22	18	45	48	49
Depreciation Expense	-	-	-	8.47	27	31	42
Other Operating Expenses / (Income)	-	0.22	3.83	0.31	4.18	2.87	1.95
Impairment Charge	-	0.00	9.30	1.04	14	0.50	31
Total Other Income / (Expense), net	-6.31	-6.43	-2.28	-36	-89	-119	-140
Interest Expense	4.77	6.53	5.01	37	95	120	140
Other Income / (Expense), net	-1.54	0.10	2.72	0.75	5.38	1.23	-0.33
Income Tax Expense	-0.28	0.51	-3.69	-3.54	19	-6.26	-2.75
Preferred Stock Dividends Declared	-	-	-	-	6.64	7.01	7.78
Basic Earnings per Share	($0.16)	($0.09)	($1.25)	($2.15)	($8.06)	($5.85)	($11.60)
Weighted Average Basic Shares Outstanding	10.97M	11.82M	11.90M	14.66M	16.48M	16.60M	17.04M
Diluted Earnings per Share	($0.16)	-	($1.25)	($2.15)	($8.06)	($5.85)	($11.60)
Weighted Average Diluted Shares Outstanding	10.97M	11.82M	11.90M	14.66M	16.48M	16.60M	17.04M
Weighted Average Basic & Diluted Shares Outstanding	10.97M	11.82M	11.90M	16.39M	16.59M	16.97M	17.79M
Cash Dividends to Common per Share	$0.36	$0.00	$0.00	$0.52	$0.54	$0.56	$0.56

This table shows FAT Brands' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/24/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025
Net Income / (Loss) Attributable to Common Shareholders	-26	-28	-40	-41	-47	-69	-48	-56	-61
Consolidated Net Income / (Loss)	-25	-26	-38	-39	-45	-67	-46	-55	-59
Net Income / (Loss) Continuing Operations	-25	-26	-38	-39	-45	-67	-46	-55	-59
Total Pre-Tax Income	-26	-35	-35	-37	-45	-76	-45	-55	-58
Total Operating Income	6.62	-3.14	-1.38	-2.70	-8.83	-39	-8.57	-16	-17
Total Gross Profit	50	54	53	52	47	48	46	49	45
Total Revenue	109	159	152	152	143	145	142	147	140
Operating Revenue	109	159	152	152	143	145	142	147	140
Total Cost of Revenue	59	105	99	100	97	97	96	98	95
Operating Cost of Revenue	59	105	99	100	97	97	96	98	95
Total Operating Expenses	44	57	54	55	55	87	54	64	63
Selling, General & Admin Expense	24	30	30	30	34	35	33	44	43
Marketing Expense	12	14	13	15	10	12	11	12	12
Depreciation Expense	7.04	9.91	10	10	11	10	10	8.38	7.91
Other Operating Expenses / (Income)	0.41	2.13	1.51	0.18	0.16	0.11	-0.02	-0.01	0.02
Total Other Income / (Expense), net	-33	-32	-33	-35	-36	-36	-36	-39	-41
Interest Expense	32	33	34	34	36	37	36	39	41
Other Income / (Expense), net	-0.13	1.10	0.20	-0.75	-0.25	0.47	0.04	0.01	0.17
Income Tax Expense	-1.31	-8.83	3.52	1.90	0.14	-8.32	1.77	0.46	1.10
Preferred Stock Dividends Declared	1.79	1.84	1.88	1.92	1.94	2.04	2.23	2.31	2.32
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	0.00	-	-0.34	-1.18	-1.24
Basic Earnings per Share	($1.59)	($1.68)	($2.37)	($2.43)	($2.74)	($4.06)	($2.73)	($3.17)	($3.39)
Weighted Average Basic Shares Outstanding	16.61M	16.60M	16.95M	17.01M	17.05M	17.04M	17.63M	17.82M	17.87M
Diluted Earnings per Share	($1.59)	($1.68)	($2.37)	($2.43)	($2.74)	($4.06)	($2.73)	($3.17)	($3.39)
Weighted Average Diluted Shares Outstanding	16.61M	16.60M	16.95M	17.01M	17.05M	17.04M	17.63M	17.82M	17.87M
Weighted Average Basic & Diluted Shares Outstanding	16.79M	16.97M	17.00M	17.01M	17.11M	17.79M	17.82M	17.89M	17.94M
Cash Dividends to Common per Share	$0.14	$0.14	$0.14	$0.14	$0.14	$0.14	$0.00	$0.00	$0.00

This table details how cash moves in and out of FAT Brands' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Net Change in Cash & Equivalents	0.75	-0.63	7.19	93	-31	23	-25
Net Cash From Operating Activities	1.84	1.59	-11	0.68	-47	-36	-56
Net Cash From Continuing Operating Activities	1.97	1.59	-11	0.68	-47	-36	-56
Net Income / (Loss) Continuing Operations	-1.80	-1.02	-15	-32	-126	-90	-190
Consolidated Net Income / (Loss)	-1.80	-1.02	-15	-32	-126	-90	-190
Depreciation Expense	-0.36	0.79	1.17	8.47	27	31	42
Non-Cash Adjustments To Reconcile Net Income	0.73	3.37	12	16	59	10	68
Changes in Operating Assets and Liabilities, net	3.26	-1.54	-9.67	7.94	-7.11	13	24
Net Cash From Investing Activities	-14	-9.01	-37	-723	-12	-60	-26
Net Cash From Continuing Investing Activities	-14	-9.01	-37	-723	-12	-60	-26
Purchase of Property, Plant & Equipment	-0.15	-0.05	-0.46	-10	-21	-19	-23
Acquisitions	-7.60	-2.33	-24	-721	-2.77	-41	-4.00
Sale and/or Maturity of Investments	-	-	0.07	0.21	1.76	0.30	0.33
Net Cash From Financing Activities	13	6.79	55	815	29	119	58
Net Cash From Continuing Financing Activities	13	6.79	55	815	29	119	58
Repayment of Debt	-11	-17	-24	-93	-4.87	-54	-460
Payment of Dividends	-0.88	-0.00	-0.82	-14	-17	-16	-17
Issuance of Debt	17	23	74	897	55	183	531
Issuance of Common Equity	-	-	-	-	0.69	6.16	5.00
Cash Interest Paid	2.50	5.99	6.40	15	67	109	120
Cash Income Taxes Paid	0.22	0.24	0.17	0.84	1.03	1.75	1.89

This table details how cash moves in and out of FAT Brands' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/24/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025
Net Change in Cash & Equivalents	67	-47	3.93	-23	-6.37	0.65	-8.05	-15	-21
Net Cash From Operating Activities	-1.82	-13	-28	-14	-3.22	-10	-13	-27	-15
Net Cash From Continuing Operating Activities	-1.82	-13	-29	-14	-3.22	-10	-13	-27	-15
Net Income / (Loss) Continuing Operations	-25	-26	-38	-39	-45	-67	-46	-55	-59
Consolidated Net Income / (Loss)	-25	-26	-38	-39	-45	-67	-46	-55	-59
Depreciation Expense	7.04	9.91	10	10	11	10	10	8.38	7.91
Non-Cash Adjustments To Reconcile Net Income	19	-6.07	4.87	9.58	8.75	48	5.12	17	20
Changes in Operating Assets and Liabilities, net	-2.72	9.83	-5.37	5.55	22	-1.40	18	3.27	17
Net Cash From Investing Activities	-7.47	-45	-8.05	-10	-7.79	-0.50	-0.02	-2.40	-2.30
Net Cash From Continuing Investing Activities	-7.47	-45	-8.05	-10	-7.79	-0.50	-0.02	-2.40	-2.30
Purchase of Property, Plant & Equipment	-6.40	-5.47	-4.13	-10	-7.87	-0.59	-4.55	-2.40	-2.33
Sale and/or Maturity of Investments	0.08	0.08	0.08	0.08	0.09	0.09	0.09	-	0.03
Net Cash From Financing Activities	76	11	40	1.62	4.64	12	5.19	14	-4.42
Net Cash From Continuing Financing Activities	76	11	40	1.62	4.64	12	5.19	14	-4.42
Repayment of Debt	-78	24	-36	-8.84	-9.28	-406	-24	-16	-21
Issuance of Debt	156	-11	80	14	17	420	27	29	17
Cash Interest Paid	30	29	29	29	30	32	27	31	30
Cash Income Taxes Paid	0.13	0.95	0.29	1.17	0.49	-0.06	0.35	0.46	0.76

This table presents FAT Brands' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Total Assets	29	58	83	121	1,270	1,213	1,388	1,289
Total Current Assets	1.18	3.54	10	24	119	96	121	88
Cash & Equivalents	0.03	0.65	0.03	3.94	57	29	37	23
Restricted Cash	-	-	0.00	2.87	25	25	39	25
Accounts Receivable	0.92	1.84	4.14	4.21	20	24	21	19
Inventories, net	-	-	-	-	5.93	6.93	9.31	8.42
Other Current Assets	0.15	1.04	6.06	13	12	11	14	12
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.48	81	79	101	97
Total Noncurrent Assets	28	54	72	96	1,070	1,038	1,167	1,104
Goodwill	7.36	10	11	11	295	293	305	285
Intangible Assets	11	23	30	48	653	625	621	596
Other Noncurrent Operating Assets	8.41	18	28	5.45	123	120	241	223
Total Liabilities & Shareholders' Equity	29	58	83	121	1,270	1,213	1,388	1,289
Total Liabilities	27	52	77	163	1,227	1,372	1,644	1,745
Total Current Liabilities	6.73	28	46	73	198	267	277	298
Short-Term Debt	0.00	15	25	19	0.63	50	43	49
Accounts Payable	2.44	4.42	7.18	8.63	28	18	22	39
Accrued Expenses	2.11	4.07	6.78	22	57	68	67	73
Dividends Payable	0.00	-	-	-	-	-	1.33	1.39
Current Deferred Revenue	-	1.08	0.90	1.89	2.64	2.02	2.49	2.28
Other Current Liabilities	-	0.39	1.66	9.62	95	112	113	108
Other Current Nonoperating Liabilities	0.41	2.25	4.59	12	15	17	28	25
Total Noncurrent Liabilities	21	25	32	90	1,029	1,105	1,367	1,447
Long-Term Debt	18	0.00	5.22	74	904	959	1,110	1,209
Noncurrent Deferred Revenue	-	-	5.25	-	18	22	22	20
Noncurrent Deferred & Payable Income Tax Liabilities	1.94	-	-	9.10	13	27	19	14
Other Noncurrent Operating Liabilities	0.44	25	21	6.90	94	98	216	203
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2.01	5.74	5.38	-42	-22	-159	-256	-456
Total Preferred & Common Equity	2.01	5.74	5.38	-42	-22	-159	-256	-456
Total Common Equity	2.01	5.74	5.38	-64	-22	-159	-256	-456
Common Stock	2.62	11	-	-43	-25	-26	-31	-38
Retained Earnings	-0.61	-5.02	-6.04	-21	-52	-179	-269	-459
Other Equity Adjustments	-	-	11	-	56	46	44	41
Noncontrolling Interest	-	-	-	-	-	-	-	0.00

This table presents FAT Brands' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/24/2023	3/31/2024	6/30/2024	9/29/2024	3/30/2025	6/29/2025	9/28/2025
Total Assets	1,276	1,385	1,356	1,340	1,274	1,248	1,211
Total Current Assets	163	124	101	91	83	71	49
Cash & Equivalents	88	40	17	17	12	7.65	2.05
Restricted Cash	34	39	40	33	29	26	12
Accounts Receivable	24	20	22	18	17	16	14
Inventories, net	6.84	9.18	8.87	8.47	8.56	7.73	7.45
Other Current Assets	9.76	16	14	14	16	14	14
Plant, Property, & Equipment, net	83	99	103	105	91	90	87
Total Noncurrent Assets	1,030	1,162	1,152	1,143	1,099	1,087	1,074
Goodwill	293	305	305	305	285	285	285
Intangible Assets	615	617	613	608	592	588	584
Other Noncurrent Operating Assets	121	240	234	230	222	214	205
Total Liabilities & Shareholders' Equity	1,276	1,385	1,356	1,340	1,274	1,248	1,211
Total Liabilities	1,504	1,681	1,695	1,726	1,773	1,791	1,804
Total Current Liabilities	265	266	272	302	317	336	1,566
Short-Term Debt	45	43	45	49	49	58	1,263
Accounts Payable	18	24	18	30	45	42	48
Accrued Expenses	65	57	66	74	79	86	98
Dividends Payable	-	-	-	1.36	1.46	4.43	8.87
Current Deferred Revenue	2.17	2.46	2.38	2.30	2.51	2.20	2.16
Other Current Liabilities	112	111	111	113	108	108	107
Other Current Nonoperating Liabilities	23	29	30	32	32	35	39
Total Noncurrent Liabilities	1,239	1,415	1,423	1,424	1,456	1,455	238
Long-Term Debt	1,094	1,158	1,168	1,178	1,217	1,218	2.46
Noncurrent Deferred Revenue	21	21	22	21	20	19	18
Noncurrent Deferred & Payable Income Tax Liabilities	27	22	23	23	15	15	15
Other Noncurrent Operating Liabilities	97	214	209	202	205	203	202
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-229	-297	-339	-386	-499	-543	-594
Total Preferred & Common Equity	-229	-297	-339	-386	-494	-536	-586
Total Common Equity	-273	-297	-339	-386	-494	-536	-586
Common Stock	-30	-33	-34	-36	-37	-24	-13
Retained Earnings	-243	-307	-346	-391	-499	-554	-612
Other Equity Adjustments	-	43	42	41	43	41	39
Noncontrolling Interest	-	-	-	-	-5.56	-6.74	-7.98

This table displays calculated financial ratios and metrics derived from FAT Brands' official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
DEI Shares Outstanding	11,529,891.00	11,843,907.00	11,926,264.00	16,348,303.00	16,576,713.00	16,789,323.00	17,106,605.00
DEI Adjusted Shares Outstanding	23,779,553.00	24,427,188.00	24,597,044.00	16,348,303.00	16,576,713.00	16,789,323.00	17,106,605.00
DEI Earnings Per Adjusted Shares Outstanding	-0.08	-0.04	-0.60	-1.93	-8.01	-5.78	-11.55
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	26.67%	-19.49%	556.15%	242.55%	17.98%	23.35%
EBITDA Growth	0.00%	191.02%	-281.72%	181.23%	44.17%	277.56%	-120.16%
EBIT Growth	0.00%	123.29%	-324.88%	111.62%	-896.00%	288.07%	-323.03%
NOPAT Growth	0.00%	39.71%	-374.86%	105.07%	-2,272.82%	224.72%	-333.86%
Net Income Growth	0.00%	43.38%	-1,359.73%	-112.54%	-299.54%	28.59%	-110.68%
EPS Growth	0.00%	0.00%	0.00%	-72.00%	-274.88%	27.42%	-98.29%
Operating Cash Flow Growth	0.00%	-13.23%	-820.45%	105.94%	-7,050.00%	24.88%	-57.96%
Free Cash Flow Firm Growth	0.00%	0.00%	-118.48%	-2,853.37%	106.89%	-139.51%	248.50%
Invested Capital Growth	0.00%	74.45%	41.72%	1,468.66%	-7.87%	4.69%	-8.22%
Revenue Q/Q Growth	0.00%	4.57%	40.29%	115.02%	7.85%	12.88%	-2.20%
EBITDA Q/Q Growth	0.00%	38.95%	-128.48%	1,317.21%	-65.35%	141.82%	-143.53%
EBIT Q/Q Growth	0.00%	22.52%	-110.70%	155.02%	-176.33%	525.48%	-233.35%
NOPAT Q/Q Growth	0.00%	-2.38%	-118.36%	116.45%	-250.05%	413.14%	-225.14%
Net Income Q/Q Growth	0.00%	63.04%	-70.59%	-65.35%	-68.33%	33.09%	-27.70%
EPS Q/Q Growth	0.00%	0.00%	-34.41%	-95.45%	-70.04%	32.13%	-25.81%
Operating Cash Flow Q/Q Growth	0.00%	-5.57%	-61.22%	109.77%	-48.51%	-5.25%	3.70%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	50.34%	-95.70%	118.56%	-425.90%	233.79%
Invested Capital Q/Q Growth	0.00%	3.24%	-37.16%	73.75%	-1.21%	4.94%	-5.29%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	62.78%	45.58%	41.12%	33.67%
EBITDA Margin	13.16%	30.25%	-68.27%	8.45%	3.56%	11.38%	-1.86%
Operating Margin	23.84%	26.30%	-89.78%	0.69%	-4.40%	4.65%	-8.81%
EBIT Margin	15.18%	26.76%	-74.74%	1.32%	-3.08%	4.90%	-8.87%
Profit (Net Income) Margin	-10.12%	-4.52%	-82.02%	-26.57%	-30.99%	-18.76%	-32.03%
Tax Burden Percent	86.73%	200.39%	80.11%	89.93%	117.52%	93.51%	98.57%
Interest Burden Percent	-76.86%	-8.44%	136.97%	-2,231.26%	857.04%	-408.97%	366.49%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	13.04%	13.28%	-23.75%	0.12%	-1.48%	1.88%	-4.48%
ROIC Less NNEP Spread (ROIC-NNEP)	-14.98%	-6.85%	-29.00%	-6.74%	-14.03%	-8.30%	-17.57%
Return on Net Nonoperating Assets (RNNOA)	-44.37%	-31.59%	105.17%	-6,888.45%	218.34%	41.54%	57.84%
Return on Equity (ROE)	-31.33%	-18.31%	81.41%	-6,888.33%	216.86%	43.42%	53.36%
Cash Return on Invested Capital (CROIC)	0.00%	-40.98%	-58.27%	-175.91%	6.72%	-2.70%	4.09%
Operating Return on Assets (OROA)	6.19%	8.57%	-13.30%	0.23%	-1.01%	1.81%	-3.93%
Return on Assets (ROA)	-4.12%	-1.45%	-14.59%	-4.54%	-10.16%	-6.93%	-14.18%
Return on Common Equity (ROCE)	-31.33%	-18.31%	130.01%	640,952.86%	336.96%	43.42%	53.36%
Return on Equity Simple (ROE_SIMPLE)	-31.33%	-18.93%	35.48%	145.85%	79.27%	35.22%	41.66%
Net Operating Profit after Tax (NOPAT)	2.97	4.14	-11	0.58	-13	16	-37
NOPAT Margin	16.69%	18.41%	-62.84%	0.49%	-3.08%	3.25%	-6.17%
Net Nonoperating Expense Percent (NNEP)	28.02%	20.13%	5.25%	6.86%	12.56%	10.18%	13.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	1.74%	-4.55%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	37.22%	54.42%	58.88%	66.33%
SG&A Expenses to Revenue	58.25%	54.46%	82.11%	35.14%	27.83%	19.38%	21.69%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	76.16%	73.70%	189.78%	62.09%	49.97%	36.47%	42.48%
Earnings before Interest and Taxes (EBIT)	2.70	6.02	-14	1.57	-13	24	-53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2.34	6.81	-12	10	14	55	-11
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.45	8.06	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.41	1.93	6.11	1.10	0.19	0.11	0.08
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	9.71%	13.12%	0.00%	6.47%	11.33%	18.50%	19.17%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.53	1.84	3.89	1.16	1.27	1.33	1.61
Enterprise Value to Revenue (EV/Rev)	3.24	3.25	12.08	8.57	2.54	2.35	2.13
Enterprise Value to EBITDA (EV/EBITDA)	24.58	10.73	0.00	101.44	71.33	20.61	0.00
Enterprise Value to EBIT (EV/EBIT)	21.32	12.13	0.00	647.58	0.00	47.85	0.00
Enterprise Value to NOPAT (EV/NOPAT)	19.39	17.63	0.00	1,767.14	0.00	72.13	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	31.30	45.82	0.00	1,494.55	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	18.16	0.00	37.75
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	2.68	5.53	-2.22	21.14	-6.33	-4.51	-2.76
Long-Term Debt to Equity	0.00	0.97	-1.76	21.13	-6.02	-4.34	-2.65
Financial Leverage	2.96	4.61	-3.63	1,021.87	-15.56	-5.01	-3.29
Leverage Ratio	11.25	12.64	-5.58	1,517.09	-21.34	-6.27	-3.76
Compound Leverage Factor	-8.65	-1.07	-7.64	-33,850.30	-182.88	25.63	-13.79
Debt to Total Capital	72.85%	84.68%	181.67%	95.48%	118.75%	128.52%	156.78%
Short-Term Debt to Total Capital	72.85%	69.81%	37.66%	0.07%	5.84%	4.75%	6.14%
Long-Term Debt to Total Capital	0.00%	14.86%	144.01%	95.42%	112.90%	123.77%	150.65%
Preferred Equity to Total Capital	0.00%	0.00%	42.49%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	6.80%	0.00%	0.00%	0.00%
Common Equity to Total Capital	27.15%	15.32%	-124.16%	-2.29%	-18.75%	-28.52%	-56.78%
Debt to EBITDA	6.58	4.37	-7.53	90.06	69.60	21.08	-114.14
Net Debt to EBITDA	6.30	4.36	-6.98	81.96	65.87	19.68	-109.73
Long-Term Debt to EBITDA	0.00	0.77	-5.97	89.99	66.18	20.30	-109.67
Debt to NOPAT	5.19	7.17	-8.18	1,568.82	-80.45	73.76	-34.42
Net Debt to NOPAT	4.97	7.17	-7.58	1,427.70	-76.14	68.88	-33.09
Long-Term Debt to NOPAT	0.00	1.26	-6.49	1,567.73	-76.49	71.03	-33.07
Altman Z-Score	0.33	0.24	-0.54	0.03	-0.04	0.02	-0.35
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	-59.69%	9,404.91%	-55.38%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.13	0.23	0.33	0.60	0.36	0.44	0.30
Quick Ratio	0.09	0.10	0.11	0.39	0.20	0.21	0.14
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-13	-28	-825	57	-22	33
Operating Cash Flow to CapEx	1,241.22%	3,542.22%	-2,496.52%	11.02%	-412.63%	-188.44%	-246.68%
Free Cash Flow to Firm to Interest Expense	0.00	-1.96	-5.58	-22.48	0.60	-0.19	0.24
Operating Cash Flow to Interest Expense	0.39	0.24	-2.29	0.02	-0.50	-0.30	-0.40
Operating Cash Flow Less CapEx to Interest Expense	0.35	0.24	-2.39	-0.15	-0.62	-0.45	-0.56
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.41	0.32	0.18	0.17	0.33	0.37	0.44
Accounts Receivable Turnover	12.87	7.52	4.34	9.79	18.53	21.34	29.22
Inventory Turnover	0.00	0.00	0.00	0.00	34.49	34.86	44.36
Fixed Asset Turnover	0.00	0.00	0.00	2.94	5.10	5.35	5.99
Accounts Payable Turnover	0.00	0.00	0.00	2.45	9.67	14.10	12.99
Days Sales Outstanding (DSO)	28.37	48.56	84.13	37.29	19.70	17.10	12.49
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	10.58	10.47	8.23
Days Payable Outstanding (DPO)	0.00	0.00	0.00	149.13	37.76	25.89	28.10
Cash Conversion Cycle (CCC)	28.37	48.56	84.13	-111.84	-7.47	1.68	-7.38
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	23	40	56	882	812	850	781
Invested Capital Turnover	0.78	0.72	0.38	0.25	0.48	0.58	0.73
Increase / (Decrease) in Invested Capital	0.00	17	17	826	-69	38	-70
Enterprise Value (EV)	57	73	219	1,019	1,033	1,127	1,260
Market Capitalization	43	43	111	131	79	51	50
Book Value per Share	$0.50	$0.45	($5.34)	($1.32)	($9.60)	($15.24)	($26.64)
Tangible Book Value per Share	($2.42)	($2.98)	($10.25)	($59.31)	($65.02)	($70.38)	($78.14)
Total Capital	21	35	51	948	849	897	803
Total Debt	15	30	93	905	1,008	1,153	1,258
Total Long-Term Debt	0.00	5.22	74	904	959	1,110	1,209
Net Debt	15	30	86	824	954	1,077	1,210
Capital Expenditures (CapEx)	0.15	0.05	0.46	6.19	11	19	23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-9.32	-11	-36	-160	-176	-189	-210
Debt-free Net Working Capital (DFNWC)	-8.67	-11	-29	-79	-122	-113	-161
Net Working Capital (NWC)	-24	-35	-49	-79	-171	-156	-210
Net Nonoperating Expense (NNE)	4.76	5.16	3.47	32	114	106	153
Net Nonoperating Obligations (NNO)	17	34	98	839	972	1,106	1,236
Total Depreciation and Amortization (D&A)	-0.36	0.79	1.17	8.47	27	31	42
Debt-free, Cash-free Net Working Capital to Revenue	-52.46%	-47.31%	-200.08%	-134.77%	-43.16%	-39.40%	-35.38%
Debt-free Net Working Capital to Revenue	-48.78%	-47.19%	-162.49%	-66.30%	-29.89%	-23.52%	-27.17%
Net Working Capital to Revenue	-135.46%	-156.07%	-269.09%	-66.83%	-42.07%	-32.38%	-35.48%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	($0.04)	($1.25)	($2.15)	($7.66)	($5.85)	($11.60)
Adjusted Weighted Average Basic Shares Outstanding	24.35M	24.39M	12.03M	14.66M	16.48M	16.60M	17.04M
Adjusted Diluted Earnings per Share	($0.08)	($0.04)	$0.00	($2.15)	($7.66)	($5.85)	($11.60)
Adjusted Weighted Average Diluted Shares Outstanding	24.35M	24.39M	12.03M	14.66M	16.48M	16.60M	17.04M
Adjusted Basic & Diluted Earnings per Share	($0.08)	($0.04)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	22.63M	24.39M	11.90M	16.39M	16.59M	16.97M	17.79M
Normalized Net Operating Profit after Tax (NOPAT)	2.97	4.14	-4.06	4.27	-2.46	16	-15
Normalized NOPAT Margin	16.69%	18.41%	-22.42%	3.59%	-0.61%	3.33%	-2.55%
Pre Tax Income Margin	-11.67%	-2.26%	-102.38%	-29.54%	-26.37%	-20.06%	-32.50%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.57	0.92	-2.70	0.04	-0.13	0.20	-0.38
NOPAT to Interest Expense	0.62	0.63	-2.27	0.02	-0.13	0.13	-0.26
EBIT Less CapEx to Interest Expense	0.53	0.92	-2.80	-0.13	-0.25	0.04	-0.54
NOPAT Less CapEx to Interest Expense	0.59	0.63	-2.37	-0.15	-0.25	-0.03	-0.42
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-48.83%	-0.20%	-5.50%	-45.55%	-13.16%	-18.14%	-9.13%
Augmented Payout Ratio	-48.83%	-0.20%	-10.50%	-45.55%	-13.16%	-18.14%	-9.13%

This table displays calculated financial ratios and metrics derived from FAT Brands' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/24/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025
DEI Shares Outstanding	16,695,514.00	16,789,323.00	16,965,591.00	17,002,622.00	17,013,520.00	17,106,605.00	17,792,689.00	17,821,802.00	17,885,205.00
DEI Adjusted Shares Outstanding	16,695,514.00	16,789,323.00	16,965,591.00	17,002,622.00	17,013,520.00	17,106,605.00	17,792,689.00	17,821,802.00	17,885,205.00
DEI Earnings Per Adjusted Shares Outstanding	-1.58	-1.67	-2.37	-2.43	-2.74	-4.06	-2.71	-3.17	-3.38
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	5.95%	52.81%	43.78%	42.41%	31.09%	-8.42%	-6.55%	-3.42%	-2.34%
EBITDA Growth	60.25%	132.50%	17.72%	-73.51%	-87.80%	-462.04%	-79.35%	-205.45%	-662.33%
EBIT Growth	318.90%	93.43%	-316.94%	-118.60%	-239.92%	-1,797.12%	-624.02%	-349.87%	-89.25%
NOPAT Growth	554.25%	90.36%	-457.11%	-114.64%	-233.41%	-1,150.46%	-519.83%	-475.29%	-96.60%
Net Income Growth	-5.20%	62.95%	-19.27%	-455.06%	-81.52%	-156.95%	-20.87%	-40.68%	-32.85%
EPS Growth	99.90%	62.67%	-15.61%	-358.49%	-72.33%	-141.67%	-15.19%	-30.45%	-23.72%
Operating Cash Flow Growth	78.06%	-16.46%	-142.43%	-49.66%	-76.64%	17.20%	53.46%	-89.31%	-351.52%
Free Cash Flow Firm Growth	105.26%	-186.51%	-716.45%	-245.58%	-220.35%	205.24%	277.42%	375.84%	632.97%
Invested Capital Growth	-1.45%	4.69%	6.21%	4.16%	1.69%	-8.22%	-11.28%	-12.91%	-14.33%
Revenue Q/Q Growth	2.44%	45.05%	-4.20%	0.05%	-5.71%	1.34%	-2.24%	3.39%	-4.65%
EBITDA Q/Q Growth	-47.21%	-41.87%	14.61%	-24.68%	-75.69%	-1,825.14%	106.54%	-484.59%	-29.65%
EBIT Q/Q Growth	-65.04%	-131.53%	42.45%	-193.29%	-162.95%	-327.45%	78.04%	-82.24%	-10.62%
NOPAT Q/Q Growth	-64.14%	-147.47%	56.03%	-95.59%	-226.79%	-344.95%	78.20%	-81.53%	-11.68%
Net Income Q/Q Growth	-247.71%	-6.41%	-46.04%	-2.72%	-13.71%	-50.64%	31.31%	-19.56%	-7.38%
EPS Q/Q Growth	-200.00%	-5.66%	-41.07%	-2.53%	-12.76%	-48.18%	32.76%	-16.12%	-6.94%
Operating Cash Flow Q/Q Growth	80.79%	-589.25%	-125.91%	49.96%	77.33%	-223.19%	-26.96%	-103.58%	45.93%
Free Cash Flow Firm Q/Q Growth	-32.69%	-343.94%	-26.28%	29.79%	44.36%	313.30%	112.89%	9.16%	7.51%
Invested Capital Q/Q Growth	-0.47%	4.94%	0.42%	-0.70%	-2.82%	-5.29%	-2.92%	-2.52%	-4.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	45.90%	33.73%	34.82%	34.15%	32.49%	33.11%	32.34%	33.22%	32.42%
EBITDA Margin	12.37%	4.96%	5.93%	4.47%	1.15%	-19.60%	1.31%	-4.88%	-6.63%
Operating Margin	6.05%	-1.98%	-0.91%	-1.78%	-6.16%	-27.05%	-6.03%	-10.59%	-12.40%
EBIT Margin	5.94%	-1.29%	-0.78%	-2.27%	-6.34%	-26.73%	-6.01%	-10.59%	-12.28%
Profit (Net Income) Margin	-22.54%	-16.54%	-25.21%	-25.89%	-31.22%	-46.40%	-32.61%	-37.71%	-42.47%
Tax Burden Percent	94.95%	74.83%	110.13%	105.08%	100.32%	89.01%	103.97%	100.83%	101.89%
Interest Burden Percent	-399.91%	1,712.95%	2,953.48%	1,084.17%	491.05%	195.03%	522.24%	353.29%	339.41%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.21%	-0.80%	-0.40%	-0.86%	-3.20%	-13.76%	-3.05%	-5.40%	-6.52%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.80%	-3.12%	-3.88%	-4.26%	-6.63%	-17.17%	-6.40%	-9.00%	-10.28%
Return on Net Nonoperating Assets (RNNOA)	4.93%	15.60%	17.00%	17.31%	24.25%	56.52%	19.36%	25.19%	26.34%
Return on Equity (ROE)	7.14%	14.79%	16.59%	16.46%	21.05%	42.76%	16.31%	19.80%	19.83%
Cash Return on Invested Capital (CROIC)	0.84%	-2.70%	-4.29%	-4.12%	-3.05%	4.09%	6.79%	7.42%	8.05%
Operating Return on Assets (OROA)	2.01%	-0.48%	-0.31%	-1.01%	-2.94%	-11.83%	-2.63%	-4.69%	-5.53%
Return on Assets (ROA)	-7.62%	-6.11%	-10.16%	-11.51%	-14.47%	-20.54%	-14.30%	-16.72%	-19.12%
Return on Common Equity (ROCE)	8.13%	14.79%	16.59%	16.46%	22.55%	42.76%	16.19%	19.65%	19.67%
Return on Equity Simple (ROE_SIMPLE)	58.88%	0.00%	32.45%	0.00%	0.00%	0.00%	40.05%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4.63	-2.20	-0.97	-1.89	-6.18	-28	-6.00	-11	-12
NOPAT Margin	4.24%	-1.39%	-0.64%	-1.24%	-4.31%	-18.94%	-4.22%	-7.41%	-8.68%
Net Nonoperating Expense Percent (NNEP)	3.01%	2.31%	3.48%	3.40%	3.43%	3.41%	3.35%	3.60%	3.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.25%	-0.11%	-0.22%	-0.74%	-3.43%	-0.78%	-1.49%	-1.81%
Cost of Revenue to Revenue	54.10%	66.27%	65.18%	65.85%	67.51%	66.89%	67.66%	66.78%	67.58%
SG&A Expenses to Revenue	22.36%	19.10%	19.74%	19.44%	24.05%	23.76%	23.27%	30.25%	30.47%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.85%	35.71%	35.73%	35.93%	38.65%	60.16%	38.37%	43.81%	44.83%
Earnings before Interest and Taxes (EBIT)	6.49	-2.05	-1.18	-3.46	-9.09	-39	-8.53	-16	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	7.87	9.02	6.79	1.65	-28	1.86	-7.16	-9.28
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.26	0.11	0.12	0.08	0.07	0.08	0.09	0.07	0.06
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	8.60%	18.50%	14.53%	20.97%	21.35%	19.17%	113.13%	136.14%	163.92%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.44	1.33	1.39	1.42	1.48	1.61	1.67	1.73	1.81
Enterprise Value to Revenue (EV/Rev)	2.75	2.35	2.25	2.10	2.02	2.13	2.18	2.21	2.23
Enterprise Value to EBITDA (EV/EBITDA)	51.69	20.61	21.18	32.31	48.23	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	47.85	54.34	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	72.13	82.47	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	169.55	0.00	0.00	0.00	0.00	37.75	23.19	21.70	20.77
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	-4.98	-4.51	-4.05	-3.58	-3.18	-2.76	-2.53	-2.35	-2.13
Long-Term Debt to Equity	-4.78	-4.34	-3.90	-3.45	-3.05	-2.65	-2.44	-2.24	0.00
Financial Leverage	-6.18	-5.01	-4.38	-4.07	-3.66	-3.29	-3.02	-2.80	-2.56
Leverage Ratio	-7.99	-6.27	-5.33	-4.75	-4.25	-3.76	-3.34	-2.95	-2.60
Compound Leverage Factor	31.97	-107.37	-157.38	-51.47	-20.89	-7.34	-17.43	-10.43	-8.83
Debt to Total Capital	125.13%	128.52%	132.82%	138.71%	145.92%	156.78%	165.22%	174.13%	188.35%
Short-Term Debt to Total Capital	4.97%	4.75%	4.74%	5.15%	5.84%	6.14%	6.34%	7.88%	187.98%
Long-Term Debt to Total Capital	120.16%	123.77%	128.09%	133.56%	140.08%	150.65%	158.89%	166.26%	0.37%
Preferred Equity to Total Capital	4.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.73%	-0.92%	-1.19%
Common Equity to Total Capital	-29.94%	-28.52%	-32.82%	-38.71%	-45.92%	-56.78%	-64.50%	-73.21%	-87.16%
Debt to EBITDA	50.36	21.08	21.42	32.61	48.45	-114.14	-69.61	-39.71	-29.40
Net Debt to EBITDA	44.95	19.68	20.01	31.09	46.47	-109.73	-67.32	-38.67	-29.07
Long-Term Debt to EBITDA	48.36	20.30	20.66	31.40	46.51	-109.67	-66.94	-37.92	-0.06
Debt to NOPAT	-228.18	73.76	83.44	-2,855.91	-109.14	-34.42	-30.43	-25.23	-22.39
Net Debt to NOPAT	-203.66	68.88	77.92	-2,722.60	-104.67	-33.09	-29.43	-24.57	-22.14
Long-Term Debt to NOPAT	-219.12	71.03	80.46	-2,749.86	-104.77	-33.07	-29.26	-24.09	-0.04
Altman Z-Score	0.03	-0.05	-0.03	-0.08	-0.15	-0.32	-0.32	-0.44	-1.77
Noncontrolling Interest Sharing Ratio	-13.90%	0.00%	0.00%	0.00%	-7.12%	0.00%	0.70%	0.76%	0.81%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.61	0.44	0.47	0.37	0.30	0.30	0.26	0.21	0.03
Quick Ratio	0.42	0.21	0.22	0.14	0.12	0.14	0.09	0.07	0.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	17	-40	-51	-36	-20	42	90	99	106
Operating Cash Flow to CapEx	-28.50%	-229.88%	-688.34%	-139.18%	-40.93%	-1,761.42%	-11,593.86%	-1,119.73%	-624.91%
Free Cash Flow to Firm to Interest Expense	0.51	-1.22	-1.51	-1.05	-0.56	1.15	2.51	2.50	2.57
Operating Cash Flow to Interest Expense	-0.06	-0.38	-0.84	-0.42	-0.09	-0.28	-0.37	-0.68	-0.35
Operating Cash Flow Less CapEx to Interest Expense	-0.25	-0.55	-0.97	-0.72	-0.31	-0.30	-0.37	-0.74	-0.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.37	0.40	0.44	0.46	0.44	0.44	0.44	0.45
Accounts Receivable Turnover	12.90	21.34	22.58	22.49	28.63	29.22	31.67	30.42	35.61
Inventory Turnover	0.00	34.86	40.47	48.08	52.42	44.36	43.97	46.77	48.49
Fixed Asset Turnover	5.08	5.35	5.96	6.26	6.46	5.99	6.13	5.99	5.98
Accounts Payable Turnover	12.17	14.10	14.73	21.22	16.55	12.99	11.29	12.84	9.93
Days Sales Outstanding (DSO)	28.28	17.10	16.16	16.23	12.75	12.49	11.53	12.00	10.25
Days Inventory Outstanding (DIO)	0.00	10.47	9.02	7.59	6.96	8.23	8.30	7.80	7.53
Days Payable Outstanding (DPO)	30.00	25.89	24.79	17.20	22.06	28.10	32.32	28.42	36.76
Cash Conversion Cycle (CCC)	-1.72	1.68	0.40	6.62	-2.34	-7.38	-12.50	-8.62	-18.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	810	850	854	848	824	781	758	739	706
Invested Capital Turnover	0.52	0.58	0.64	0.69	0.74	0.73	0.72	0.73	0.75
Increase / (Decrease) in Invested Capital	-12	38	50	34	14	-70	-96	-109	-118
Enterprise Value (EV)	1,169	1,127	1,187	1,202	1,221	1,260	1,269	1,278	1,279
Market Capitalization	109	51	65	45	45	50	51	42	35
Book Value per Share	($16.32)	($15.24)	($17.49)	($19.92)	($22.70)	($26.64)	($27.76)	($30.10)	($32.75)
Tangible Book Value per Share	($70.73)	($70.38)	($71.82)	($73.90)	($76.39)	($78.14)	($77.06)	($79.10)	($81.36)
Total Capital	910	897	904	875	841	803	766	733	672
Total Debt	1,139	1,153	1,201	1,213	1,227	1,258	1,265	1,276	1,266
Total Long-Term Debt	1,094	1,110	1,158	1,168	1,178	1,209	1,217	1,218	2.46
Net Debt	1,017	1,077	1,122	1,157	1,177	1,210	1,224	1,242	1,252
Capital Expenditures (CapEx)	6.40	5.47	4.13	10	7.87	0.59	0.11	2.40	2.33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-179	-189	-179	-182	-212	-210	-227	-240	-268
Debt-free Net Working Capital (DFNWC)	-57	-113	-100	-126	-162	-161	-185	-207	-254
Net Working Capital (NWC)	-102	-156	-143	-171	-211	-210	-234	-265	-1,517
Net Nonoperating Expense (NNE)	29	24	37	37	39	40	40	44	47
Net Nonoperating Obligations (NNO)	1,039	1,106	1,151	1,187	1,210	1,236	1,257	1,282	1,300
Total Depreciation and Amortization (D&A)	7.04	9.91	10	10	11	10	10	8.38	7.91
Debt-free, Cash-free Net Working Capital to Revenue	-42.16%	-39.40%	-34.00%	-31.89%	-34.97%	-35.38%	-38.87%	-41.62%	-46.60%
Debt-free Net Working Capital to Revenue	-13.40%	-23.52%	-18.93%	-21.99%	-26.68%	-27.17%	-31.75%	-35.83%	-44.16%
Net Working Capital to Revenue	-24.03%	-32.38%	-27.06%	-29.87%	-34.78%	-35.48%	-40.07%	-45.82%	-264.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.59)	($1.68)	($2.37)	($2.43)	($2.74)	($4.06)	($2.73)	($3.17)	($3.39)
Adjusted Weighted Average Basic Shares Outstanding	16.61M	16.60M	16.95M	17.01M	17.05M	17.04M	17.63M	17.82M	17.87M
Adjusted Diluted Earnings per Share	($1.59)	($1.68)	($2.37)	($2.43)	($2.74)	($4.06)	($2.73)	($3.17)	($3.39)
Adjusted Weighted Average Diluted Shares Outstanding	16.61M	16.60M	16.95M	17.01M	17.05M	17.04M	17.63M	17.82M	17.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.79M	16.97M	17.00M	17.01M	17.11M	17.79M	17.82M	17.89M	17.94M
Normalized Net Operating Profit after Tax (NOPAT)	4.63	-2.20	-0.97	-1.89	-6.18	-28	-6.00	-11	-12
Normalized NOPAT Margin	4.24%	-1.39%	-0.64%	-1.24%	-4.31%	-18.94%	-4.22%	-7.41%	-8.68%
Pre Tax Income Margin	-23.74%	-22.10%	-22.89%	-24.64%	-31.12%	-52.13%	-31.36%	-37.40%	-41.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.20	-0.06	-0.04	-0.10	-0.26	-1.05	-0.24	-0.39	-0.42
NOPAT to Interest Expense	0.14	-0.07	-0.03	-0.06	-0.17	-0.75	-0.17	-0.28	-0.30
EBIT Less CapEx to Interest Expense	0.00	-0.23	-0.16	-0.40	-0.48	-1.07	-0.24	-0.46	-0.47
NOPAT Less CapEx to Interest Expense	-0.05	-0.23	-0.15	-0.36	-0.40	-0.76	-0.17	-0.34	-0.35
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-11.98%	-18.14%	-17.16%	-13.13%	-11.48%	-9.13%	-7.74%	-5.47%	-3.22%
Augmented Payout Ratio	-11.98%	-18.14%	-17.16%	-13.13%	-11.48%	-9.13%	-7.74%	-5.47%	-3.22%

Financials Breakdown Chart

FAT Brands Financials - Frequently Asked Questions

According to the most recent income statement we have on file, FAT Brands' fiscal year ends in December. Their fiscal year 2024 ended on December 29, 2024.

FAT Brands' net income appears to be on an upward trend, with a most recent value of -$189.85 million in 2024, rising from -$1.80 million in 2018. The previous period was -$90.11 million in 2023. See where experts think FAT Brands is headed by visiting FAT Brands' forecast page.

FAT Brands' total operating income in 2024 was -$52.22 million, based on the following breakdown:

Total Gross Profit: $199.52 million
Total Operating Expenses: $251.74 million

Over the last 6 years, FAT Brands' total revenue changed from $17.77 million in 2018 to $592.65 million in 2024, a change of 3,235.7%.

FAT Brands' total liabilities were at $1.74 billion at the end of 2024, a 6.1% increase from 2023, and a 6,308.7% increase since 2017.

In the past 7 years, FAT Brands' cash and equivalents has ranged from $25 thousand in 2019 to $56.66 million in 2021, and is currently $23.38 million as of their latest financial filing in 2024.

Over the last 6 years, FAT Brands' book value per share changed from 0.50 in 2018 to -26.64 in 2024, a change of -5,452.5%.

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Financial statements for NASDAQ:FATBB last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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FAT Brands (FATBB) Financials

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FAT Brands (FATBB) Financials

Annual Income Statements for FAT Brands

Quarterly Income Statements for FAT Brands

Annual Cash Flow Statements for FAT Brands

Quarterly Cash Flow Statements for FAT Brands

Annual Balance Sheets for FAT Brands

Quarterly Balance Sheets for FAT Brands

Annual Metrics And Ratios for FAT Brands

Quarterly Metrics And Ratios for FAT Brands

Financials Breakdown Chart

FAT Brands Financials - Frequently Asked Questions

When does FAT Brands' financial year end?

How has FAT Brands' net income changed over the last 6 years?

What is FAT Brands' operating income?

How has FAT Brands' revenue changed over the last 6 years?

How much debt does FAT Brands have?

How much cash does FAT Brands have?

How has FAT Brands' book value per share changed over the last 6 years?

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