First Watch Restaurant FWRG Peer Comparison

NASDAQ FWRG
$12.27 +0.57 (+4.87%)
As of: Sep 4, 2026 · 12:50 PM EDT
Peer Comparison

41 Comparable Companies

Industry Quick-Service Restaurants

First Watch Restaurant Group, Inc. (FWRG) is the 20th largest of 41 Quick-Service Restaurants companies by market capitalisation, at 756.69 Mn, behind Sweetgreen, Inc. at 818.62 Mn. It trades on a P/E of 42.49, 85% above the peer median of 23.01. The table below compares all 41 on 8 financial metrics.

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# Ticker Company match industry_code industry_group industry_group_code Market Capitalization P/E P/S Enterprise Value
1 MCD Mcdonalds Corp primary D-16 Restaurants DG-06 182.00 Bn 20.72 6.57 181.18 Bn
2 SBUX Starbucks Corp primary D-16 Restaurants DG-06 120.03 Bn 60.56 3.13 116.42 Bn
3 CMG Chipotle Mexican Grill Inc primary D-16 Restaurants DG-06 47.47 Bn 33.45 3.82 46.80 Bn
4 QSR Restaurant Brands International Inc. primary D-16 Restaurants DG-06 28.16 Bn 22.12 2.90 27.09 Bn
5 RSTRF Restaurant Brands International Limited Partnership primary D-16 Restaurants DG-06 17.24 Bn 10.06 1.78 16.18 Bn
6 YUMC Yum China Holdings, Inc. primary D-16 Restaurants DG-06 15.23 Bn 14.84 1.22 13.84 Bn
7 DPZ Dominos Pizza Inc primary D-16 Restaurants DG-06 11.33 Bn 13.67 2.25 11.12 Bn
8 CAVA Cava Group, Inc. primary D-16 Restaurants DG-06 7.14 Bn 116.91 5.87 6.70 Bn
9 BROS Dutch Bros Inc. primary D-16 Restaurants DG-06 6.26 Bn 47.55 3.33 5.99 Bn
10 WING Wingstop Inc. primary D-16 Restaurants DG-06 3.01 Bn 25.84 4.17 2.85 Bn
11 SHAK Shake Shack Inc. primary D-16 Restaurants DG-06 2.83 Bn 65.47 1.83 2.53 Bn
12 CHA Chagee Holdings Ltd. primary D-16 Restaurants DG-06 1.90 Bn 13.83 1.03 0.73 Bn
13 ARCO Arcos Dorados Holdings Inc. primary D-16 Restaurants DG-06 1.74 Bn -0.07 0.35 1.47 Bn
14 WEN Wendy's Co primary D-16 Restaurants DG-06 1.52 Bn 12.07 0.69 1.18 Bn
15 SG Sweetgreen, Inc. primary D-16 Restaurants DG-06 0.82 Bn 59.81 1.20 0.68 Bn
16 FWRG First Watch Restaurant Group, Inc. primary D-16 Restaurants DG-06 0.76 Bn 42.49 0.57 0.74 Bn
17 PZZA Papa Johns International Inc primary D-16 Restaurants DG-06 0.74 Bn 27.91 0.37 0.71 Bn
18 DNUT Krispy Kreme, Inc. primary D-16 Restaurants DG-06 0.59 Bn -6.42 0.40 0.57 Bn
19 KRUS Kura Sushi Usa, Inc. primary D-16 Restaurants DG-06 0.54 Bn -283.04 1.69 0.50 Bn
20 LOCO El Pollo Loco Holdings, Inc. primary D-16 Restaurants DG-06 0.46 Bn 13.16 0.92 0.45 Bn
21 PTLO Portillo's Inc. primary D-16 Restaurants DG-06 0.33 Bn 23.90 0.44 0.31 Bn
22 JACK Jack In The Box Inc primary D-16 Restaurants DG-06 0.31 Bn -2.99 0.23 0.20 Bn
23 BRCB Black Rock Coffee Bar, Inc. primary D-16 Restaurants DG-06 0.20 Bn -21.38 0.92 0.19 Bn
24 NDLS NOODLES & Co primary D-16 Restaurants DG-06 0.09 Bn -3.70 0.17 0.08 Bn
25 THCH TH International Ltd primary D-16 Restaurants DG-06 0.04 Bn -0.60 0.26 0.03 Bn
26 RAVE Rave Restaurant Group, Inc. primary D-16 Restaurants DG-06 0.04 Bn 15.30 3.45 0.02 Bn
27 NROM Noble Romans Inc primary D-16 Restaurants DG-06 0.01 Bn 11.60 0.90 0.01 Bn
28 BTBD BT Brands, Inc. primary D-16 Restaurants DG-06 0.01 Bn -18.70 0.85 0.01 Bn
29 BABB Bab, Inc. primary D-16 Restaurants DG-06 0.01 Bn 10.38 1.82 0.00 Bn
30 REBN Reborn Coffee, Inc. primary D-16 Restaurants DG-06 0.01 Bn -0.65 0.73 0.00 Bn
31 CHSN Chanson International Holding primary D-16 Restaurants DG-06 0.00 Bn 0.16 0.02 -0.01 Bn
32 KO Coca Cola Co secondary S-03 Beverages SG-01 379.24 Bn 26.33 7.57 365.09 Bn
33 TXRH Texas Roadhouse, Inc. secondary D-17 Restaurants DG-06 12.44 Bn 30.11 2.00 12.24 Bn
34 CAKE Cheesecake Factory Inc secondary D-17 Restaurants DG-06 5.05 Bn 31.78 1.30 4.85 Bn
35 CBRL Cracker Barrel Old Country Store, Inc secondary D-17 Restaurants DG-06 1.22 Bn 46.51 0.37 1.19 Bn
36 DIN Dine Brands Global, Inc. secondary D-17 Restaurants DG-06 0.39 Bn 61.42 0.43 0.24 Bn
37 BRCC BRC Inc. secondary S-03 Beverages SG-01 0.10 Bn -10.07 0.23 0.09 Bn
38 GHG GreenTree Hospitality Group Ltd. secondary D-18 Travel and Lodging DG-07 0.07 Bn 12.22 0.51 0.07 Bn
39 FGNX FG Nexus Inc. secondary F-17 Capital Markets FG-05 0.05 Bn -0.43 21.06 0.03 Bn
40 GTIM Good Times Restaurants Inc. secondary D-17 Restaurants DG-06 0.02 Bn 6.88 0.12 0.01 Bn
41 SDOT Sadot Group Inc. secondary S-07 Agribusiness SG-03 0.01 Bn -0.12 — 0.01 Bn