Which has the lower trailing P/E, FWRG or PZZA?

PZZA has the lower trailing P/E: FWRG trades at 37.19 and PZZA at 24.59. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FWRG or PZZA?

Over the past five years, FWRG grew revenue faster — FWRG at a 25.36% CAGR versus PZZA at -0.02%.

Does FWRG or PZZA pay a bigger dividend?

PZZA pays a dividend (7.03% yield), while FWRG has no payments in the available dividend history.

How have FWRG and PZZA total returns compared?

Over the past 5 years, FWRG delivered -13.18% and PZZA delivered -28.96% annualized total return. Past performance doesn't predict future results.

First Watch Restaurant Group, Inc. (FWRG) vs Papa John's International, Inc. (PZZA)

A side-by-side comparison of First Watch Restaurant Group, Inc. and Papa John's International, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.

FWRG

First Watch Restaurant Group, Inc.

$651M

$10.56Consumer CyclicalDelayed quote: Oct 6, 2026, 1:55 PM EDT

PZZA

Papa John's International, Inc.

$639M

$19.43Consumer CyclicalDelayed quote: Oct 6, 2026, 1:50 PM EDT

Total return — FWRG vs PZZA

growth of $100 · dividends reinvested · last 5y

FWRG -52.5% (-13.8%/yr)PZZA -82.2% (-29.2%/yr)FWRG compounded faster over this window

FWRG PZZA

FWRG vs PZZA: by the numbers

•FWRG is the larger company ($651M vs $639M market cap).
•PZZA trades at the lower trailing earnings multiple (24.59 vs 37.19 P/E), one valuation lens rather than an overall verdict.
•FWRG grew revenue faster over the past five years (25.36% vs -0.02% CAGR).
•PZZA pays a dividend (7.03% yield), while FWRG has no payments in the available dividend history.

Metrics side by side

Valuation

Metric	FWRG	PZZA
P/E ratio	37.19	24.59
Forward P/E	91.03	16.27
P/S ratio	0.49	0.32
P/B ratio	1.03	N/A
EV / EBITDA	12.21	8.89
FCF yield	N/A	5.36%

Profitability

Metric	FWRG	PZZA
Gross margin	13.04%	23.16%
Operating margin	4.25%	4.11%
Net margin	1.35%	1.40%
ROE	2.81%	N/A
ROIC	3.38%	9.04%

Dividends

Metric	FWRG	PZZA
Dividend yield	N/A	7.03%
Payout ratio	N/A	174.68%

Growth (annualized)

Metric	FWRG	PZZA
Revenue CAGR (5Y)	25.36%	-0.02%
EPS CAGR (5Y)	N/A	-12.87%
FCF CAGR (5Y)	N/A	-28.50%
Total return CAGR (5Y)	-13.18%	-28.96%

Frequently asked

Which has the lower trailing P/E, FWRG or PZZA?: PZZA has the lower trailing P/E: FWRG trades at 37.19 and PZZA at 24.59. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FWRG or PZZA?: Over the past five years, FWRG grew revenue faster — FWRG at a 25.36% CAGR versus PZZA at -0.02%.
Does FWRG or PZZA pay a bigger dividend?: PZZA pays a dividend (7.03% yield), while FWRG has no payments in the available dividend history.
How have FWRG and PZZA total returns compared?: Over the past 5 years, FWRG delivered -13.18% and PZZA delivered -28.96% annualized total return. Past performance doesn't predict future results.

Go deeper

Full FWRG analysis Full PZZA analysis Interactive comparison tool

Dig into the metrics

First Watch Restaurant P/E ratio Papa John's International P/E ratio Papa John's International dividend yield First Watch Restaurant ROE Papa John's International ROE First Watch Restaurant operating margin Papa John's International operating margin First Watch Restaurant revenue growth Papa John's International revenue growth First Watch Restaurant free cash flow Papa John's International free cash flow

First Watch Restaurant & Papa John's International appear in these rankings

Highest Dividend Yield Stocks Fastest Revenue Growth Stocks Highest FCF Yield Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.