First Watch Restaurant Group (FWRG) vs Sweetgreen (SG)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Sweetgreen (SG) has outperformed First Watch Restaurant Group (FWRG) over the past year, gaining 18.0% versus a loss of 34.0%. Sweetgreen is the larger company by market cap ($1.14 billion vs $669.9 million), about 1.7 times the size. On valuation, First Watch Restaurant Group trades at a lower trailing P/E (38.8x vs 106.3x for Sweetgreen).
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 | FWRG | SG |
|---|---|---|
| Share price | $10.86 | $9.57 |
| Market cap | $669.89M | $1.14B |
| 1-day change | +3.38% | +4.42% |
| YTD return | -30.37% | +35.50% |
| 1-year return | -34.05% | +18.04% |
| 5-year return | -51.37% | — |
| P/E ratio (TTM) | 38.77 | 106.28 |
| Forward P/E | 44.16 | — |
| EPS (TTM) | $0.28 | $0.09 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| 52-week high | $18.82 | $10.63 |
| 52-week low | $9.88 | $4.49 |
| Distance from 52-week high | -42.33% | -10.02% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +77.80% | -16.36% |
| Average volume | 1.15M | 5.76M |
| Shares outstanding | 61.71M | 107.15M |
| Employees | 18,000 | 6,486 |
| 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
- SG has outperformed FWRG by 52.1 percentage points over the past year.
- Sweetgreen trades at a higher earnings multiple (106.3x vs 38.8x trailing P/E).
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
About Sweetgreen
SG stock →Sweetgreen, Inc., together with its subsidiaries, operates fast food restaurants serving healthy food and beverages in the United States. It accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed.
Consumer Discretionary · Restaurants · 6,486 employees
FWRG vs SG FAQ
Which is bigger, First Watch Restaurant Group or Sweetgreen?
Sweetgreen (SG) is larger, with a market capitalization of $1.14B compared with $669.89M for First Watch Restaurant Group (FWRG).
Which stock has performed better over the past year, FWRG or SG?
SG returned +18.04% over the past 12 months, compared with -34.05% for FWRG (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FWRG or SG?
FWRG has the lower trailing P/E at 38.8, versus 106.3 for SG. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are First Watch Restaurant Group and Sweetgreen in the same industry?
Yes. Both are classified in the Restaurants industry within the Consumer Discretionary sector.