FAT Brands Inc.

EDGAR

Annual consolidated revenue for 2024: about USD 592.7M, using the latest reported figures. The previous period, 2023, was about USD 480.5M.

Watchlist

Latest quarter

Revenue

140 million USD

2025-09-28 · USD

Exact inputs and evidence

Operating margin

-12.4%

2025-09-28 · %

Exact inputs and evidence
  • Operating Income: -17366000 USD Source
  • Revenue: 140000000 USD Source

Operating cash flow

-14.6 million USD

2025-09-28 · USD

Exact inputs and evidence
  • Operating Cash Flow: -54700000 USD Source
  • Operating Cash Flow: -40100000 USD Source

Free cash flow

-16.9 million USD

2025-09-28 · USD

Exact inputs and evidence
  • Operating Cash Flow: -54700000 USD Source
  • Operating Cash Flow: -40100000 USD Source
  • Capital Expenditure: 9277000 USD Source
  • Capital Expenditure: 6949000 USD Source
Cash and cash equivalents
Not available
Long-term debt including current maturities
1.27 billion USD Source
Exact value

1266000000 USD

Shares outstanding
17.9 million shares Source
Exact value

17885205 shares

Reported share-count change

4.55% · 779 thousand shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 17106468 shares · 2024-09-29· Source
  • 17885205 shares · 2025-09-28· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Net income

-226 million USD

2024-09-30 – 2025-09-28

Exact inputs and evidence
  • Net income: -189847000 USD · 2024-01-01 – 2024-12-29 Source
  • Net income: -122430000 USD · 2024-01-01 – 2024-09-29 Source
  • Net income: -45969000 USD · 2024-12-30 – 2025-03-30 Source
  • Net income: -54188000 USD · 2025-03-31 – 2025-06-29 Source
  • Net income: -58219000 USD · 2025-06-30 – 2025-09-28 Source

Capital expenditure

9.87 million USD

2024-09-30 – 2025-09-28

Exact inputs and evidence
  • Capital expenditure: 22801000 USD · 2024-01-01 – 2024-12-29 Source
  • Capital expenditure: 22210000 USD · 2024-01-01 – 2024-09-29 Source
  • Capital expenditure: 4546000 USD · 2024-12-30 – 2025-03-30 Source
  • Capital expenditure: 6949000 USD · 2024-12-30 – 2025-06-29 Source
  • Capital expenditure: 4546000 USD · 2024-12-30 – 2025-03-30 Source
  • Capital expenditure: 9277000 USD · 2024-12-30 – 2025-09-28 Source
  • Capital expenditure: 6949000 USD · 2024-12-30 – 2025-06-29 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-06-04.

Financial data available through: 2024-12-29.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2024-12-29
  • Operating income: 7 of 11 periods available· newest 2024-12-29
  • Net income: 7 of 11 periods available· newest 2024-12-29
  • Operating cash flow: 7 of 11 periods available· newest 2024-12-29
  • Capital expenditure: 7 of 11 periods available· newest 2024-12-29
  • Total assets: 8 of 11 periods available· newest 2024-12-29
  • Total liabilities: 8 of 11 periods available· newest 2024-12-29
  • Current assets: 8 of 11 periods available· newest 2024-12-29
  • Current liabilities: 8 of 11 periods available· newest 2024-12-29
  • cash and cash equivalents: No compatible figures in this window
  • Long-term debt including current maturities: 6 of 11 periods available· newest 2024-12-29
  • Shares outstanding: 8 of 11 periods available· newest 2024-12-29

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +23.4%

    Prior period

    USD 480.5 million

    –

    Current period

    USD 592.7 million

    –

    Exact inputs and evidence

    592700000 − 480500000 = 112200000 USD

    480500000 USD · 2022-12-26 – 2023-12-31

    Inspect prior input Prior source

    592700000 USD · 2024-01-01 – 2024-12-29

    Inspect current input Current source
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  • Net income

    −USD 99.74 million

    Prior period

    −USD 90.11 million

    –

    Current period

    −USD 189.85 million

    –

    Exact inputs and evidence

    -189847000 − -90110000 = -99737000 USD

    -90110000 USD · 2022-12-26 – 2023-12-31

    Inspect prior input Prior source

    -189847000 USD · 2024-01-01 – 2024-12-29

    Inspect current input Current source
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  • Operating cash flow

    −USD 20.64 million

    Prior period

    −USD 35.61 million

    –

    Current period

    −USD 56.25 million

    –

    Exact inputs and evidence

    -56246000 − -35608000 = -20638000 USD

    -35608000 USD · 2022-12-26 – 2023-12-31

    Inspect prior input Prior source

    -56246000 USD · 2024-01-01 – 2024-12-29

    Inspect current input Current source
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  • Capital expenditure

    +20.7%

    Prior period

    USD 18.9 million

    –

    Current period

    USD 22.8 million

    –

    Exact inputs and evidence

    22801000 − 18896000 = 3905000 USD

    18896000 USD · 2022-12-26 – 2023-12-31

    Inspect prior input Prior source

    22801000 USD · 2024-01-01 – 2024-12-29

    Inspect current input Current source
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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2024 2024-01-01 – 2024-12-29

  • Revenue USD 592.7 million 100% of revenue
  • Operating costs Derived USD 644.9 million 109% of revenue
  • Operating income −USD 52.2 million −8.8% of revenue
  • Tax, interest and other Derived USD 137.65 million 23% of revenue
  • Net income −USD 189.85 million −32% of revenue

Cash

  • Operating cash flow −USD 56.25 million −9.5% of revenue
  • Capital expenditure USD 22.8 million 3.8% of revenue
  • Free cash flow Derived −USD 79.05 million −13% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2017 Not shown: operating income or net income is not reported.
  • 2018 Net loss: net income was −10% of revenue.
  • 2019 Net loss: net income was −4.5% of revenue.
  • 2020 Operating loss: operating costs were 190% of revenue.
  • 2021 Net loss: net income was −27% of revenue.
  • 2022 Operating loss: operating costs were 104% of revenue.
  • 2023 Net loss: net income was −19% of revenue.
  • 2024 Operating loss: operating costs were 109% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2017 2017-01-01 – 2017-12-312173000 UnavailableUnavailableUnavailableUnavailableUnavailable
Source
2018 2018-01-01 – 2018-12-3017834000 13598000 Derived 4236000 6034000 Derived -1798000 1689000 Derived
Source
2019 2018-12-31 – 2019-12-2922505000 16587000 Derived 5918000 6936000 Derived -1018000 1549000 Derived
Source
2020 2019-12-30 – 2020-12-2718118000 34418000 Derived -16300000 -1440000 Derived -14860000 -11944000 Derived
Source
2021 2020-12-28 – 2021-12-26118900000 118100000 Derived 800000 32383000 Derived -31583000 -9740000 Derived
Source
2022 2021-12-27 – 2022-12-25407200000 425100000 Derived -17900000 108288000 Derived -126188000 -68820000 Derived
Source
2023 2022-12-26 – 2023-12-31480500000 458200000 Derived 22300000 112410000 Derived -90110000 -54504000 Derived
Source
2024 2024-01-01 – 2024-12-29592700000 644900000 Derived -52200000 137647000 Derived -189847000 -79047000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 592.7M 2024
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.640.1M480.1M320.1M160.0M0.0201720212024
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Revenue2173000
2018Revenue17834000
2019Revenue22505000
2020Revenue18118000
2021Revenue118900000
2022Revenue407200000
2023Revenue480500000
2024Revenue592700000

Revenue growth

Change in revenue from the same financial period one year earlier.

23.4% 2024
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.780%565%351%136%-79%201720212024
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2017Year over yearNo prior comparable period
2018Year over year720.7%
2019Year over year26.2%
2020Year over year-19.5%
2021Year over year556.3%
2022Year over year242.5%
2023Year over year18%
2024Year over year23.4%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -8.8% 2024
Net margin -32% 2024
Free cash flow margin -13.3% 2024
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.36%2%-32%-66%-99%2017-12-3120212024
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2017-12-31Operating marginNot reported
2018Operating margin23.8%
2019Operating margin26.3%
2020Operating margin-90%
2021Operating margin0.7%
2022Operating margin-4.4%
2023Operating margin4.6%
2024Operating margin-8.8%
2017-12-31Net marginNot reported
2018Net margin-10.1%
2019Net margin-4.5%
2020Net margin-82%
2021Net margin-26.6%
2022Net margin-31%
2023Net margin-18.8%
2024Net margin-32%
2017Free cash flow marginNot reported
2018Free cash flow margin9.5%
2019Free cash flow margin6.9%
2020Free cash flow margin-65.9%
2021Free cash flow margin-8.2%
2022Free cash flow margin-16.9%
2023Free cash flow margin-11.3%
2024Free cash flow margin-13.3%

Operating cash flow

Cash generated by the company’s normal business operations.

USD -56.2M 2024
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.6.5M-10.4M-27.2M-44.0M-60.9M201720212024
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Operating cash flowNot reportedNo source recorded
2018Operating cash flow1837000
2019Operating cash flow1594000
2020Operating cash flow-11484000
2021Operating cash flow682000
2022Operating cash flow-47399000
2023Operating cash flow-35608000
2024Operating cash flow-56246000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -79M 2024
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.8.1M-15.3M-38.7M-62.1M-85.5M201720212024
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Free cash flowUnavailableNo source recorded
2018Free cash flow1689000
2019Free cash flow1549000
2020Free cash flow-11944000
2021Free cash flow-9740000
2022Free cash flow-68820000
2023Free cash flow-54504000
2024Free cash flow-79047000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

135.3% 2024
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.146%110%73%37%0%201720212024
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2017Liabilities / assets93.1%
2018Liabilities / assets90.1%
2019Liabilities / assets93.5%
2020Liabilities / assets134.6%
2021Liabilities / assets96.6%
2022Liabilities / assets113.1%
2023Liabilities / assets118.4%
2024Liabilities / assets135.3%

Current assets to current liabilities

Current assets divided by current liabilities.

0.3× 2024
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.0.65×0.49×0.32×0.16×0.00×201720212024
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2017Current assets / current liabilities0.18×
2018Current assets / current liabilities0.13×
2019Current assets / current liabilities0.23×
2020Current assets / current liabilities0.33×
2021Current assets / current liabilities0.6×
2022Current assets / current liabilities0.36×
2023Current assets / current liabilities0.44×
2024Current assets / current liabilities0.3×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2018 2018-01-01 – 2018-12-30
−USD 1.8 million
Exact value

Exact value: -1798000 USD

2018-01-01 – 2018-12-30: -1798000 USD Inspect Net Income Open source
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USD 1.84 million
Exact value

Exact value: 1837000 USD

2018-01-01 – 2018-12-30: 1837000 USD Inspect Operating Cash Flow Open source
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USD 148,000
Exact value

Exact value: 148000 USD

2018-01-01 – 2018-12-30: 148000 USD Inspect Capital Expenditure Open source
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USD 1.69 million
Calculation and evidence

1837000 − 148000 USD

Exact free cash flow: 1689000 USD

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2019 2018-12-31 – 2019-12-29
−USD 1.02 million
Exact value

Exact value: -1018000 USD

2018-12-31 – 2019-12-29: -1018000 USD Inspect Net Income Open source
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USD 1.59 million
Exact value

Exact value: 1594000 USD

2018-12-31 – 2019-12-29: 1594000 USD Inspect Operating Cash Flow Open source
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USD 45,000
Exact value

Exact value: 45000 USD

2018-12-31 – 2019-12-29: 45000 USD Inspect Capital Expenditure Open source
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USD 1.55 million
Calculation and evidence

1594000 − 45000 USD

Exact free cash flow: 1549000 USD

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2020 2019-12-30 – 2020-12-27
−USD 14.86 million
Exact value

Exact value: -14860000 USD

2019-12-30 – 2020-12-27: -14860000 USD Inspect Net Income Open source
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−USD 11.48 million
Exact value

Exact value: -11484000 USD

2019-12-30 – 2020-12-27: -11484000 USD Inspect Operating Cash Flow Open source
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USD 460,000
Exact value

Exact value: 460000 USD

2019-12-30 – 2020-12-27: 460000 USD Inspect Capital Expenditure Open source
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−USD 11.94 million
Calculation and evidence

-11484000 − 460000 USD

Exact free cash flow: -11944000 USD

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2021 2020-12-28 – 2021-12-26
−USD 31.58 million
Exact value

Exact value: -31583000 USD

2020-12-28 – 2021-12-26: -31583000 USD Inspect Net Income Open source
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USD 682,000
Exact value

Exact value: 682000 USD

2020-12-28 – 2021-12-26: 682000 USD Inspect Operating Cash Flow Open source
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USD 10.42 million
Exact value

Exact value: 10422000 USD

2020-12-28 – 2021-12-26: 10422000 USD Inspect Capital Expenditure Open source
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−USD 9.74 million
Calculation and evidence

682000 − 10422000 USD

Exact free cash flow: -9740000 USD

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2022 2021-12-27 – 2022-12-25
−USD 126.19 million
Exact value

Exact value: -126188000 USD

2021-12-27 – 2022-12-25: -126188000 USD Inspect Net Income Open source
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−USD 47.4 million
Exact value

Exact value: -47399000 USD

2021-12-27 – 2022-12-25: -47399000 USD Inspect Operating Cash Flow Open source
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USD 21.42 million
Exact value

Exact value: 21421000 USD

2021-12-27 – 2022-12-25: 21421000 USD Inspect Capital Expenditure Open source
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−USD 68.82 million
Calculation and evidence

-47399000 − 21421000 USD

Exact free cash flow: -68820000 USD

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2023 2022-12-26 – 2023-12-31
−USD 90.11 million
Exact value

Exact value: -90110000 USD

2022-12-26 – 2023-12-31: -90110000 USD Inspect Net Income Open source
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−USD 35.61 million
Exact value

Exact value: -35608000 USD

2022-12-26 – 2023-12-31: -35608000 USD Inspect Operating Cash Flow Open source
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USD 18.9 million
Exact value

Exact value: 18896000 USD

2022-12-26 – 2023-12-31: 18896000 USD Inspect Capital Expenditure Open source
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−USD 54.5 million
Calculation and evidence

-35608000 − 18896000 USD

Exact free cash flow: -54504000 USD

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2024 2024-01-01 – 2024-12-29
−USD 189.85 million
Exact value

Exact value: -189847000 USD

2024-01-01 – 2024-12-29: -189847000 USD Inspect Net Income Open source
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−USD 56.25 million
Exact value

Exact value: -56246000 USD

2024-01-01 – 2024-12-29: -56246000 USD Inspect Operating Cash Flow Open source
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USD 22.8 million
Exact value

Exact value: 22801000 USD

2024-01-01 – 2024-12-29: 22801000 USD Inspect Capital Expenditure Open source
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−USD 79.05 million
Calculation and evidence

-56246000 − 22801000 USD

Exact free cash flow: -79047000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

88 filings · 2,337 latest values · 2,337 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001705012, 1705012, FAT, edgar:1705012

Also known as FAT Brands Inc., Fat Brands, Inc, fat Brands Inc.