Monday, June 09, 2025
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noble Virtual Conference. FAT Brands Chairman Andy Wiederhorn and Co-CEO Ken Kuick presented at the Noble Virtual Conference. Highlights included the new store pipeline, Twin Hospitality, and factory utilization. A rebroadcast is available at https://www.channelchek.com/videos/fat-brands-fat-noble-capital-markets-virtual-conference-replay
Pipeline. FAT Brands new store pipeline consists of approximately 1,100 units already paid for by franchisees, which will add some $50-60 million of incremental EBITDA once opened. With some 250 new unit agreements per year and some 100+ new openings per year, we expect the pipeline to be a key driver of financial performance going forward.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
