First Watch Restaurant Group vs Jack IN The BOX
Jack IN The BOX is the larger business, with $1.47bn of revenue in fiscal 2025 against $1.22bn for First Watch Restaurant Group (1.2 times as much). First Watch Restaurant Group grew faster (20.3% against -6.7%). First Watch Restaurant Group kept more of each dollar of sales as profit: a net margin of 1.6% against -5.5%.
| Latest fiscal year | First Watch Restaurant GroupFWRG, 2025 | Jack IN The BOXJACK, 2025 |
|---|---|---|
| Revenue | $1.22bn | $1.47bn |
| Revenue growth | 20.3% | -6.7% |
| Net income | $19.4m | −$80.7m |
| Operating margin | 2.3% | — |
| Net margin | 1.6% | -5.5% |
| Return on equity | 3.2% | — |
| Free cash flow | −$31.0m | $74.1m |
| Cash | $21.2m | — |
| Total debt | $282m | $1.70bn |
| Debt to equity | 45.1% | — |
| Dividend per share | — | $0.88 |
| Dividend yield | — | 0.0% |
| Share buybacks | — | $5.0m |
| Employees | — | — |
| Market value | $833m | $1.11bn |
| Price vs our value range | — | — |
| Moat score | 25 (Weak) | 58 (Moderate) |
| Insider trades, 12 months | 0 buys, 16 sales | 4 buys, 41 sales |