Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE N/A. (2015–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3M | $51M | $56M | $45M | $86M | $40M | $30M | $32M | $49M | — | — |
| Enterprise Value | $1.5B | $1.5B | $1.4B | $1.1B | $1.0B | $133M | $76M | $46M | $67M | — | — |
| P/E Ratio → | -0.01 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.01 | 0.09 | 0.12 | 0.11 | 0.73 | 2.18 | 1.33 | 1.77 | 22.54 | — | — |
| P/B Ratio | — | — | — | — | — | — | 5.58 | 5.51 | 24.38 | — | — |
| P/FCF | — | — | — | — | — | — | 9.92 | 18.72 | 32.82 | — | — |
| P/OCF | — | — | — | — | 126.80 | — | 9.78 | 17.21 | 32.67 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.53 | 2.92 | 2.79 | 8.76 | 7.37 | 3.37 | 2.60 | 30.86 | — | — |
| EV / EBITDA | — | — | 26.21 | 124.63 | 112.06 | — | 11.33 | 10.09 | 2579.53 | — | — |
| EV / EBIT | — | — | 66.19 | — | — | — | 9.32 | 17.19 | — | — | — |
| EV / FCF | — | — | — | — | — | — | 25.09 | 27.45 | 44.95 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.4% | 25.4% | 31.2% | 45.6% | 47.7% | 71.2% | 81.7% | 70.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -8.8% | -8.8% | 4.6% | -4.4% | 0.7% | -89.8% | 26.3% | 23.8% | 1.2% | 65.3% | 65.6% |
| Net Profit Margin | -32.0% | -32.0% | -18.8% | -31.0% | -26.6% | -82.0% | -4.5% | -10.1% | -28.3% | 41.9% | 35.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -18.3% | -46.4% | -12.5% | 51.4% | 44.5% |
| ROA | -14.2% | -14.2% | -6.9% | -10.2% | -4.5% | -14.6% | -1.4% | -4.0% | -2.7% | 24.1% | 17.5% |
| ROIC | -3.8% | -3.8% | 1.7% | -1.4% | 0.1% | -23.6% | 12.4% | 15.7% | 0.1% | 60.9% | 64.2% |
| ROCE | -5.0% | -5.0% | 2.2% | -1.8% | 0.1% | -38.3% | 17.6% | 15.3% | 0.1% | 49.9% | 43.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | 8.54 | 2.68 | 9.02 | — | — |
| Debt / EBITDA | — | — | 25.85 | 122.78 | 108.86 | — | 6.85 | 3.35 | 697.12 | — | — |
| Net Debt / Equity | — | — | — | — | — | — | 8.53 | 2.57 | 9.01 | 0.00 | -0.04 |
| Net Debt / EBITDA | — | — | 25.16 | 119.64 | 102.76 | — | 6.85 | 3.21 | 695.88 | 0.00 | -0.04 |
| Debt / FCF | — | — | — | — | — | — | 15.17 | 8.73 | 12.13 | 0.00 | -0.05 |
| Interest Coverage | -0.39 | -0.39 | 0.18 | -0.13 | -0.21 | -1.17 | 0.94 | 0.57 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.30 | 0.30 | 0.44 | 0.36 | 0.60 | 0.33 | 0.23 | 0.13 | 0.18 | 0.16 | 0.35 |
| Quick Ratio | 0.27 | 0.27 | 0.40 | 0.33 | 0.57 | 0.15 | 0.12 | 0.13 | 0.18 | 0.16 | 0.35 |
| Cash Ratio | 0.08 | 0.08 | 0.13 | 0.11 | 0.29 | 0.05 | 0.00 | 0.02 | 0.00 | — | 0.06 |
| Asset Turnover | — | 0.46 | 0.35 | 0.34 | 0.09 | 0.15 | 0.27 | 0.31 | 0.07 | 0.60 | 0.50 |
| Inventory Turnover | 52.52 | 52.52 | 35.52 | 32.00 | 10.50 | 0.38 | 0.80 | — | — | — | — |
| Days Sales Outstanding | — | 11.96 | 16.06 | 21.40 | 61.66 | 88.96 | 71.46 | 37.74 | 167.13 | 17.64 | 16.98 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 100.0% | 18.9% | 16.6% | 19.6% | 8.6% | 0.8% | 0.0% | 2.8% | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 47.9% | 263.1% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | 10.1% | 5.3% | 3.0% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 33.9% | 3.1% | 0.0% | 0.0% | 42.7% | — | — |
| Total Shareholder Yield | 100.0% | 18.9% | 16.6% | 19.6% | 42.5% | 3.9% | 0.0% | 2.8% | 42.7% | — | — |
| Shares Outstanding | — | $17M | $17M | $16M | $15M | $12M | $12M | $12M | $10M | $11M | $11M |
Insolvency and Liquidity Risk
According to recent financial disclosures, FAT's ROIC has trended into negative territory, reaching -1.4% in 2025Q3, which indicates that the company is currently destroying shareholder value rather than compounding it through its aggressive acquisition-led strategy across its seventeen-brand portfolio.
The consistent decline in ROIC from positive levels in 2023 suggests that the integration of acquired assets is failing to generate returns that exceed the cost of the capital deployed. Investors should monitor whether this decay is a structural consequence of the high-leverage model or a temporary byproduct of integration-related G&A spikes.
Based on reported figures, FAT's cash conversion cycle has fluctuated significantly, moving from 8 days in 2023Q3 to -24 days in 2025Q3, a shift that appears driven more by aggressive management of payables than by genuine improvements in operational velocity.
While a negative cash conversion cycle is often a hallmark of efficient retail models, in FAT's case, it may reflect a reliance on stretching supplier payment terms to preserve liquidity. This strategy warrants further investigation, as it may mask underlying cash flow pressures and create potential friction with the supply chain partners essential to the company's manufacturing operations.
As reported in recent SEC filings, the company's current ratio has collapsed from 0.61 in 2023Q3 to a precarious 0.03 in 2025Q3, signaling an extremely limited buffer to meet near-term obligations without immediate access to external financing or asset divestitures.
This liquidity profile suggests that the company is operating with virtually no margin for error, leaving it highly vulnerable to even minor operational disruptions or interest rate volatility. The reliance on external capital to bridge this gap appears unsustainable, and the lack of liquid assets raises significant questions regarding the company's ability to fund ongoing operations.
Market participants frequently misapply traditional restaurant P/E or EV/EBITDA multiples to FAT, which obscures the reality that the company functions more as a distressed, debt-heavy holding vehicle than a stable, cash-generative franchisor.
Because FAT's net income is consistently negative and its debt load is substantial, standard valuation metrics fail to capture the true risk profile of the business. Analysts should instead focus on the sustainability of royalty streams and the potential for asset-level divestitures, such as a spin-off of the Twin Peaks brand, to provide a more accurate assessment of intrinsic value.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying FAT stock.
FAT Brands Inc.'s current P/E ratio is -0.0x. This places it at the 50th percentile of its historical range.
Based on historical data, FAT Brands Inc. is trading at a P/E of -0.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FAT Brands Inc.'s current dividend yield is 100.00%.
FAT Brands Inc. has 25.4% gross margin and -8.8% operating margin.