FWRG PEER ANALYSIS

First Watch Restaurant Group Inc — metric-by-metric comparison with peers and the industry median

FWRGFirst Watch Restaurant Group Inc

🇺🇸 USA · NASDAQ · Consumer Cyclical · Restaurants

Value it Duel

Overall Profile & Returns

· Restaurants

Position Within Industry

0 = weak quartile, 100 = strong quartile

FWRGIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	FWRG	MTY	BIGCH	BYDNR	ETILR	QSR	Ind. Median
P/E	45.61	5.61●	721.68	—	—	35.97	29.65
P/B	1.28	1.01●	2.74	1.99	2.41	9.19	1.94
EV/EBITDA	16.71	6.05	4.09●	6.54	6.50	18.85	14.57
P/S	0.63	0.74	0.75	0.75	0.61●	3.58	1.06

Financial Health
Metric	FWRG	MTY	BIGCH	BYDNR	ETILR	QSR	Ind. Median
Current Ratio	0.29	0.69	0.66	0.74	1.24●	0.99	0.72
Debt/Equity	164.2%	127.6%	65.5%●	65.7%	109.7%	420.7%	83.1%
NetDebt/EBITDA	9.31	3.29	0.70●	1.32	1.68	5.65	3.64

Profitability
Metric	FWRG	MTY	BIGCH	BYDNR	ETILR	QSR	Ind. Median
Net Margin	1.4%	13.1%●	0.1%	-2.1%	-1.0%	10.0%	3.0%
ROE	2.9%	18.5%	0.4%	-6.0%	-4.8%	27.9%●	8.0%
ROA	1.1%	6.1%●	0.2%	-2.9%	-1.6%	3.8%	2.9%
EBITDA Margin	8.5%	26.8%	22.2%	14.4%	12.7%	27.1%●	12.4%

Growth + Dividend
Metric	FWRG	MTY	BIGCH	BYDNR	ETILR	QSR	Ind. Median
Rev. Growth	20.4%●	0.6%	9.4%	3.2%	5.5%	9.2%	5.4%
NI Growth	85.7%	1,691.1%●	-96.5%	—	—	0.4%	-1.1%
Div. Yield	—	3.6%●	2.4%	1.9%	0.0%	2.4%	2.1%
Payout	—	20.2%	1,709.3%	-69.0%	0.0%	117.5%	45.9%

Valuation
Metric	FWRG	BLMN	KRUS	CNNE	SG	PZZA	Ind. Median
P/E	45.61	34.32●	—	—	62.83	41.44	29.65
P/B	1.28	1.89	3.05	0.70	2.16	-2.64●	1.94
EV/EBITDA	16.71	11.98	60.21	—	13.42	8.78●	14.57
P/S	0.63	0.19●	2.28	1.62	1.56	0.59	1.06

Financial Health
Metric	FWRG	BLMN	KRUS	CNNE	SG	PZZA	Ind. Median
Current Ratio	0.29	0.24	1.46	1.71●	1.61	0.84	0.72
Debt/Equity	164.2%	501.4%	89.2%	21.3%	72.8%	-212.1%●	83.1%
NetDebt/EBITDA	9.31	8.62	10.99	-0.34●	2.13	3.83	3.64

Profitability
Metric	FWRG	BLMN	KRUS	CNNE	SG	PZZA	Ind. Median
Net Margin	1.4%	0.5%	-0.6%	-103.8%	2.5%●	1.4%	3.0%
ROE	2.9%	5.6%●	-0.9%	-32.3%	3.6%	—	8.0%
ROA	1.1%	0.7%	-0.4%	-25.9%	1.9%	3.3%●	2.9%
EBITDA Margin	8.5%	5.6%	4.6%	-48.8%	13.8%●	11.9%	12.4%

Growth + Dividend
Metric	FWRG	BLMN	KRUS	CNNE	SG	PZZA	Ind. Median
Rev. Growth	20.4%●	4.2%	18.7%	-6.4%	-1.5%	-2.4%	5.4%
NI Growth	85.7%●	—	—	—	—	-63.4%	-1.1%
Div. Yield	—	3.4%	—	3.8%	—	5.1%●	2.1%
Payout	—	58.6%	—	-6.9%	—	214.6%	45.9%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.