BJ's Restaurants vs Sweetgreen
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The short version
- BJ's Restaurants is the larger business, with $1.4B of revenue in fiscal 2025 against $680M for Sweetgreen, about 2.1 times as much.
- BJ's Restaurants grew revenue faster (3.1%, against 0.4%).
- BJ's Restaurants kept more of each dollar of sales as operating profit (3.3% operating margin, against β20.5%).
- BJ's Restaurants turned more of its sales into free cash flow (2.9% FCF margin, against β17.5%).
- BJ's Restaurants earned a higher return on the capital invested in it (11.1%, against β44.2%).
- Investors pay more for each dollar of Sweetgreenβs earnings: a P/E of 98.2x against 30.2x for BJ's Restaurants.
| Latest fiscal year | BJRI Β· FY25 | SG Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.2B | $1.2B |
| Revenue | $1.4B | $680M |
| Free cash flow | $40.9M | β$119M |
| Net income | $48.8M | β$134M |
| Growth | ||
| Revenue growth | 3.1% | 0.4% |
| 5-year growth | 12.4% | 25.2% |
| Share count change | β4.8% | 3.2% |
| Profitability | ||
| Gross margin | 74.8% | β |
| Operating margin | 3.3% | β20.5% |
| Net margin | 3.5% | β19.7% |
| FCF margin | 2.9% | β17.5% |
| Return on capital | 11.1% | β44.2% |
| Return on equity | 13.3% | β33.4% |
| Balance sheet | ||
| Net debt | $61.2M | β$89.2M |
| Net debt / EBITDA | 0.5x | β |
| Dividends and buybacks | $67.8M | $0.0M |
| Valuation & quality | ||
| P/E | 30.2x | 98.2x |
| Piotroski F-score | 7 | 2 |
Revenue
FY16
BJRI $993M
SG β
FY17
BJRI $1.0B
SG β
FY18
BJRI $1.1B
SG β
FY19
BJRI $1.2B
SG β
FY20
BJRI $779M
SG $221M
FY21
BJRI $1.1B
SG $340M
FY22
BJRI $1.3B
SG $470M
FY23
BJRI $1.3B
SG $584M
FY24
BJRI $1.4B
SG $677M
FY25
BJRI $1.4B
SG $680M
BJRI
SG
Operating margin
FY16
BJRI 6.2%
SG β
FY17
BJRI 3.7%
SG β
FY18
BJRI 5.2%
SG β
FY19
BJRI 4.2%
SG β
FY20
BJRI β11.1%
SG β64.2%
FY21
BJRI β1.5%
SG β39.5%
FY22
BJRI β0.4%
SG β41.1%
FY23
BJRI 1.0%
SG β21.0%
FY24
BJRI 1.0%
SG β14.1%
FY25
BJRI 3.3%
SG β20.5%
BJRI
SG
Free cash flow
FY16
BJRI $29.0M
SG β
FY17
BJRI $36.3M
SG β
FY18
BJRI $72.0M
SG β
FY19
BJRI $33.8M
SG β
FY20
BJRI β$2.8M
SG β$139M
FY21
BJRI $22.1M
SG β$149M
FY22
BJRI β$27.5M
SG β$140M
FY23
BJRI $6.9M
SG β$63.2M
FY24
BJRI $24.6M
SG β$41.1M
FY25
BJRI $40.9M
SG β$119M
BJRI
SG
Return on capital
FY16
BJRI 11.8%
SG β
FY17
BJRI 9.5%
SG β
FY18
BJRI 14.6%
SG β
FY19
BJRI 12.2%
SG β
FY20
BJRI β17.7%
SG β
FY21
BJRI β3.7%
SG β
FY22
BJRI β1.2%
SG β78.2%
FY23
BJRI 3.5%
SG β44.4%
FY24
BJRI 3.5%
SG β33.1%
FY25
BJRI 11.1%
SG β44.2%
BJRI
SG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.