First Watch [FWRG] vs Arcos Dorados [ARCO] Detailed Stock Comparison

First Watch Restaurant Group Inc.

NASDAQ
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Arcos Dorados Holdings Inc.

NYSE
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TLDR: Quick Comparison Summary

Based on 21 vital metrics comparison: First Watch Restaurant Group Inc. wins in 4 metrics, Arcos Dorados Holdings Inc. wins in 15 metrics, with 0 ties. Arcos Dorados Holdings Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric First Watch Restaurant Group Inc. Arcos Dorados Holdings Inc. Better
P/E Ratio (TTM) 44.24 9.37 Arcos Dorados Holdings Inc.
Price-to-Book Ratio 1.34 2.59 First Watch Restaurant Group Inc.
Debt-to-Equity Ratio 161.20 290.81 First Watch Restaurant Group Inc.
PEG Ratio 0.02 -0.16 First Watch Restaurant Group Inc.
EV/EBITDA 16.69 6.69 Arcos Dorados Holdings Inc.
Profit Margin (TTM) 1.59% 4.53% Arcos Dorados Holdings Inc.
Operating Margin (TTM) 3.17% 9.37% Arcos Dorados Holdings Inc.
EBITDA Margin (TTM) 3.17% 9.37% Arcos Dorados Holdings Inc.
Return on Equity 3.18% 33.18% Arcos Dorados Holdings Inc.
Return on Assets (TTM) 1.30% 6.89% Arcos Dorados Holdings Inc.
Free Cash Flow (TTM) $-31.84M $-60.79M First Watch Restaurant Group Inc.
Dividend Yield N/A 3.27% N/A
1-Year Return -17.51% 16.80% Arcos Dorados Holdings Inc.
Price-to-Sales Ratio (TTM) 0.69 0.43 Arcos Dorados Holdings Inc.
Enterprise Value $1.82B $3.82B Arcos Dorados Holdings Inc.
EV/Revenue Ratio 1.49 0.82 Arcos Dorados Holdings Inc.
Gross Profit Margin (TTM) 19.58% N/A N/A
Revenue per Share (TTM) $20 $22 Arcos Dorados Holdings Inc.
Earnings per Share (Diluted) $0.31 $1.01 Arcos Dorados Holdings Inc.
Beta (Stock Volatility) 0.98 0.49 Arcos Dorados Holdings Inc.
Short % of Float 9.60% 2.97% Arcos Dorados Holdings Inc.

First Watch Restaurant Group Inc. vs Arcos Dorados Holdings Inc. Stock Performance Analysis

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FWRG
ARCO

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
First Watch Restaurant Group Inc.-4.36%14.60%5.52%-0.67%-28.44%-22.90%
Arcos Dorados Holdings Inc.-0.84%-2.72%1.48%-8.15%11.07%12.89%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
First Watch Restaurant Group Inc.-17.51%-24.86%-44.01%-44.01%-44.01%-44.01%
Arcos Dorados Holdings Inc.16.80%-2.86%41.05%83.58%-56.18%-58.66%

Performance & Financial Health Analysis: First Watch Restaurant Group Inc. vs Arcos Dorados Holdings Inc.

MetricFWRGARCO
Market Information
Market Cap i$814.68M$1.96B
Market Cap CategorySmall capSmall cap
10 Day Avg. Volume i1,196,9901,266,220
90 Day Avg. Volume i1,538,7131,062,480
Last Close$11.85$8.23
52 Week Range$9.97 - $19.53$6.51 - $9.75
% from 52W High-39.32%-15.59%
All-Time High$25.98 (Apr 29, 2024)$29.43 (Sep 05, 2011)
% from All-Time High-54.39%-72.04%
Growth Metrics
Quarterly Revenue Growth0.20%0.11%
Quarterly Earnings Growth20.69%-0.57%
Financial Health
Profit Margin (TTM) i0.02%0.05%
Operating Margin (TTM) i0.03%0.09%
Return on Equity (TTM) i0.03%0.33%
Debt to Equity (MRQ) i161.20290.81
Cash & Liquidity
Book Value per Share (MRQ)$10.25$3.66
Cash per Share (MRQ)$0.35$2.01
Operating Cash Flow (TTM) i$125.91M$296.34M
Levered Free Cash Flow (TTM) i$-61,100,000$120.64M
Dividends
Last 12-Month Dividend Yield iN/A3.27%
Last 12-Month Dividend iN/A$0.24

Valuation & Enterprise Metrics Analysis: First Watch Restaurant Group Inc. vs Arcos Dorados Holdings Inc.

MetricFWRG (Apr 24, 2026)ARCO (Apr 24, 2026)
Price Ratios
P/E Ratio (TTM) i44.249.37
Forward P/E i45.8511.19
PEG Ratio i0.02-0.16
Price to Sales (TTM) i0.690.43
Price to Book (MRQ) i1.342.59
Market Capitalization
Market Capitalization i$814.68M$1.96B
Enterprise Value i$1.82B$3.82B
Enterprise Value Metrics
Enterprise to Revenue i1.490.82
Enterprise to EBITDA i16.696.69
Risk & Other Metrics
Beta i0.980.49
Book Value per Share (MRQ) i$10.25$3.66

Financial Statements Comparison: First Watch Restaurant Group Inc. vs Arcos Dorados Holdings Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricFWRG (2025)ARCO (2024)
Revenue/Sales i1.22B4.47B
Cost of Goods Sold i988.05M3.88B
COGS % of Revenue i80.8%86.9%
Gross Profit i234.45M586.42M
Gross Margin i19.2%13.1%
Research & Development iN/AN/A
Operating Income (EBIT) i30.49M324.52M
Operating Margin i2.5%7.3%
EBITDA i106.82M515.99M
EBITDA Margin i8.7%11.5%
Pre-Tax Income i12.13M259.28M
Pre-Tax Income % of Revenue i1.0%5.8%
Income Tax i-7.30M109.90M
Income Tax % of Revenue i-0.6%2.5%
Net Income (Profit) i19.43M149.38M
Profit Margin i1.6%3.3%

Balance Sheet & Liquidity Metrics

MetricFWRG (2025)ARCO (2024)
Cash & Equivalents i21.25M135.06M
Total Current Assets i49.08M468.40M
Total Current Assets % of Revenue i4.0%10.5%
Total Current Liabilities i167.50M765.92M
Total Current Liabilities % of Revenue i13.7%17.1%
Long-Term Debt i920.33M1.57B
Long-Term Debt % of Revenue i75.3%35.0%
Total Shareholders Equity i626.28M509.43M
Retained Earnings i-34.39M664.39M
Retained Earnings % of Revenue i-2.8%14.9%
Property, Plant & Equipment i626.28M2.07B

Cash Flow Statement Comparison

MetricFWRG (2025)ARCO (2024)
Operating Cash Flow i122.37M331.31M
Operating Cash Flow % of Revenue i10.0%7.4%
Capital Expenditures iN/A8.21M
Free Cash Flow i-31.84M-60.79M
FCF Margin i-2.6%-1.4%
Debt Repayment i-396.41M-500,000
Common Stock Repurchase iN/AN/A

Short Interest & Institutional Ownership Analysis

MetricFWRGARCO
Shares Short i5.28M3.06M
Short Ratio i2.802.39
Short % of Float i9.60%2.97%
Shares Outstanding i61.13M130.66M
Float Shares i60.28M121.06M
% Held by Insiders i1.58%4.58%
% Held by Institutions i126.66%51.49%
% Held by Public i-28.24%43.93%

Dividend Analysis & Yield Comparison: First Watch Restaurant Group Inc. vs Arcos Dorados Holdings Inc.

MetricFWRGARCO
Last 12-Month Dividend iN/A$0.24
Last 12-Month Dividend Yield iN/A3.27%
3-Year Avg Annual Dividend iN/A$0.22
3-Year Avg Dividend Yield iN/A0.66%
3-Year Total Dividends iN/A$0.67
Ex-Dividend DateN/ADec 22, 2025