Biglari (BH) vs First Watch Restaurant Group (FWRG)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 10, 2026.
Summary
Biglari (BH) has outperformed First Watch Restaurant Group (FWRG) over the past year, gaining 5.9% versus a loss of 30.6%. Over five years, BH leads with a +117.5% price change compared with -49.1% for FWRG. Biglari is the larger company by market cap ($1.16 billion vs $677.6 million), about 1.7 times the size.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BH | FWRG |
|---|---|---|
| Share price | $363.81 | $10.98 |
| Market cap | $1.16B | $677.60M |
| 1-day change | -1.06% | +0.18% |
| YTD return | +9.44% | -27.19% |
| 1-year return | +5.92% | -30.64% |
| 5-year return | +117.46% | -49.14% |
| P/E ratio (TTM) | — | 39.21 |
| Forward P/E | — | 44.67 |
| EPS (TTM) | $-22.74 | $0.28 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $395.26M | — |
| Revenue growth (YoY) | +9.15% | — |
| Net income (latest FY) | $-37.49M | — |
| Gross margin | 59.19% | — |
| Net margin | -9.48% | — |
| 52-week high | $483.60 | $18.82 |
| 52-week low | $234.92 | $9.88 |
| Distance from 52-week high | -24.77% | -41.67% |
| Analyst consensus | — | strong_buy |
| Avg. price target upside | — | +75.77% |
| Average volume | 153.95K | 1.20M |
| Shares outstanding | 2.11M | 61.71M |
| Employees | 2,359 | 18,000 |
| Sector | Consumer Discretionary | Consumer Discretionary |
| Industry | Restaurants | Restaurants |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- BH has outperformed FWRG by 36.6 percentage points over the past year.
About Biglari
BH stock →Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States. The company owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names.
Consumer Discretionary · Restaurants · 2,359 employees
About First Watch Restaurant Group
FWRG stock →First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc.
Consumer Discretionary · Restaurants · 18,000 employees
BH vs FWRG FAQ
Which is bigger, Biglari or First Watch Restaurant Group?
Biglari (BH) is larger, with a market capitalization of $1.16B compared with $677.60M for First Watch Restaurant Group (FWRG).
Which stock has performed better over the past year, BH or FWRG?
BH returned +5.92% over the past 12 months, compared with -30.64% for FWRG (price return, excluding dividends). Past performance does not predict future results.
Are Biglari and First Watch Restaurant Group in the same industry?
Yes. Both are classified in the Restaurants industry within the Consumer Discretionary sector.