First Watch [FWRG] vs McDonald's [MCD] Detailed Stock Comparison

First Watch Restaurant Group Inc.

NASDAQ
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McDonald's Corporation

NYSE
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TLDR: Quick Comparison Summary

Based on 21 vital metrics comparison: First Watch Restaurant Group Inc. wins in 7 metrics, McDonald's Corporation wins in 13 metrics, with 0 ties. McDonald's Corporation appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric First Watch Restaurant Group Inc. McDonald's Corporation Better
P/E Ratio (TTM) 44.24 25.26 McDonald's Corporation
Price-to-Book Ratio 1.34 -120.30 First Watch Restaurant Group Inc.
Debt-to-Equity Ratio 161.20 -30.61 First Watch Restaurant Group Inc.
PEG Ratio 0.02 3.26 First Watch Restaurant Group Inc.
EV/EBITDA 16.69 18.40 First Watch Restaurant Group Inc.
Profit Margin (TTM) 1.59% 31.85% McDonald's Corporation
Operating Margin (TTM) 3.17% 45.07% McDonald's Corporation
EBITDA Margin (TTM) 3.17% 45.07% McDonald's Corporation
Return on Equity 3.18% -478.11% First Watch Restaurant Group Inc.
Return on Assets (TTM) 1.30% 13.51% McDonald's Corporation
Free Cash Flow (TTM) $-31.84M $7.19B McDonald's Corporation
Dividend Yield N/A 2.19% N/A
1-Year Return -17.51% -5.66% McDonald's Corporation
Price-to-Sales Ratio (TTM) 0.69 7.98 First Watch Restaurant Group Inc.
Enterprise Value $1.82B $268.48B McDonald's Corporation
EV/Revenue Ratio 1.49 9.99 First Watch Restaurant Group Inc.
Gross Profit Margin (TTM) 19.58% 57.51% McDonald's Corporation
Revenue per Share (TTM) $20 $38 McDonald's Corporation
Earnings per Share (Diluted) $0.31 $11.95 McDonald's Corporation
Beta (Stock Volatility) 0.98 0.53 McDonald's Corporation
Short % of Float 9.60% 1.44% McDonald's Corporation

First Watch Restaurant Group Inc. vs McDonald's Corporation Stock Performance Analysis

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FWRG
MCD

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
First Watch Restaurant Group Inc.-4.36%14.60%5.52%-0.67%-28.44%-22.90%
McDonald's Corporation0.46%3.00%3.52%-12.41%-10.23%-5.65%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
First Watch Restaurant Group Inc.-17.51%-24.86%-44.01%-44.01%-44.01%-44.01%
McDonald's Corporation-5.66%-3.03%24.04%132.94%245.14%759.41%

Performance & Financial Health Analysis: First Watch Restaurant Group Inc. vs McDonald's Corporation

MetricFWRGMCD
Market Information
Market Cap i$814.68M$215.05B
Market Cap CategorySmall capMega cap
10 Day Avg. Volume i1,196,9902,841,638
90 Day Avg. Volume i1,538,7132,958,969
Last Close$11.85$286.12
52 Week Range$9.97 - $19.53$271.85 - $341.75
% from 52W High-39.32%-16.28%
All-Time High$25.98 (Apr 29, 2024)$341.75 (Mar 02, 2026)
% from All-Time High-54.39%-16.28%
Growth Metrics
Quarterly Revenue Growth0.20%0.10%
Quarterly Earnings Growth20.69%0.07%
Financial Health
Profit Margin (TTM) i0.02%0.32%
Operating Margin (TTM) i0.03%0.45%
Return on Equity (TTM) i0.03%-4.78%
Debt to Equity (MRQ) i161.20-30.61
Cash & Liquidity
Book Value per Share (MRQ)$10.25$-2.52
Cash per Share (MRQ)$0.35$1.09
Operating Cash Flow (TTM) i$125.91M$10.55B
Levered Free Cash Flow (TTM) i$-61,100,000$6.30B
Dividends
Last 12-Month Dividend Yield iN/A2.19%
Last 12-Month Dividend iN/A$7.26

Valuation & Enterprise Metrics Analysis: First Watch Restaurant Group Inc. vs McDonald's Corporation

MetricFWRG (Apr 24, 2026)MCD (Apr 24, 2026)
Price Ratios
P/E Ratio (TTM) i44.2425.26
Forward P/E i45.8521.06
PEG Ratio i0.023.26
Price to Sales (TTM) i0.697.98
Price to Book (MRQ) i1.34-120.30
Market Capitalization
Market Capitalization i$814.68M$215.05B
Enterprise Value i$1.82B$268.48B
Enterprise Value Metrics
Enterprise to Revenue i1.499.99
Enterprise to EBITDA i16.6918.40
Risk & Other Metrics
Beta i0.980.53
Book Value per Share (MRQ) i$10.25$-2.52

Financial Statements Comparison: First Watch Restaurant Group Inc. vs McDonald's Corporation

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricFWRG (2025)MCD (2025)
Revenue/Sales i1.22B26.89B
Cost of Goods Sold i988.05M11.45B
COGS % of Revenue i80.8%42.6%
Gross Profit i234.45M15.43B
Gross Margin i19.2%57.4%
Research & Development iN/AN/A
Operating Income (EBIT) i30.49M12.39B
Operating Margin i2.5%46.1%
EBITDA i106.82M14.91B
EBITDA Margin i8.7%55.5%
Pre-Tax Income i12.13M10.90B
Pre-Tax Income % of Revenue i1.0%40.5%
Income Tax i-7.30M2.33B
Income Tax % of Revenue i-0.6%8.7%
Net Income (Profit) i19.43M8.56B
Profit Margin i1.6%31.9%

Balance Sheet & Liquidity Metrics

MetricFWRG (2025)MCD (2025)
Cash & Equivalents i21.25M774.00M
Total Current Assets i49.08M4.16B
Total Current Assets % of Revenue i4.0%15.5%
Total Current Liabilities i167.50M4.36B
Total Current Liabilities % of Revenue i13.7%16.2%
Long-Term Debt i920.33M54.12B
Long-Term Debt % of Revenue i75.3%201.3%
Total Shareholders Equity i626.28M-1.79B
Retained Earnings i-34.39M70.28B
Retained Earnings % of Revenue i-2.8%261.4%
Property, Plant & Equipment i626.28M18.02B

Cash Flow Statement Comparison

MetricFWRG (2025)MCD (2025)
Operating Cash Flow i122.37M10.79B
Operating Cash Flow % of Revenue i10.0%40.1%
Capital Expenditures iN/A130.00M
Free Cash Flow i-31.84M7.19B
FCF Margin i-2.6%26.7%
Debt Repayment i-396.41M-4.80B
Common Stock Repurchase iN/A-2.06B

Short Interest & Institutional Ownership Analysis

MetricFWRGMCD
Shares Short i5.28M9.15M
Short Ratio i2.802.86
Short % of Float i9.60%1.44%
Shares Outstanding i61.13M710.60M
Float Shares i60.28M709.39M
% Held by Insiders i1.58%0.28%
% Held by Institutions i126.66%75.65%
% Held by Public i-28.24%24.07%

Dividend Analysis & Yield Comparison: First Watch Restaurant Group Inc. vs McDonald's Corporation

MetricFWRGMCD
Last 12-Month Dividend iN/A$7.26
Last 12-Month Dividend Yield iN/A2.19%
3-Year Avg Annual Dividend iN/A$6.84
3-Year Avg Dividend Yield iN/A0.57%
3-Year Total Dividends iN/A$20.52
Ex-Dividend DateN/AMar 03, 2026