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Side-by-side financial comparison of First Watch Restaurant Group, Inc. (FWRG) and Hims & Hers Health, Inc. (HIMS). Click either name above to swap in a different company.
Hims & Hers Health, Inc. is the larger business by last-quarter revenue ($617.8M vs $316.4M, roughly 2.0× First Watch Restaurant Group, Inc.). On growth, Hims & Hers Health, Inc. posted the faster year-over-year revenue change (28.4% vs 20.2%). Hims & Hers Health, Inc. produced more free cash flow last quarter ($-2.5M vs $-18.3M). Over the past eight quarters, Hims & Hers Health, Inc.'s revenue compounded faster (49.0% CAGR vs 14.2%).
Ruby Tuesday Inc. is an American multinational foodservice retailer that owns, operates, and franchises Ruby Tuesday restaurants. The concept was started in 1972 by Samuel E. (Sandy) Beall III.
Hims & Hers Health, Inc. is an American telehealth company established in 2017. The company provides prescription medications, over-the-counter medications, and personal care products.
FWRG vs HIMS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $316.4M | $617.8M |
| Net Profit | — | $20.6M |
| Gross Margin | — | 71.9% |
| Operating Margin | 2.9% | 1.5% |
| Net Margin | — | 3.3% |
| Revenue YoY | 20.2% | 28.4% |
| Net Profit YoY | — | -20.8% |
| EPS (diluted) | $0.24 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $316.4M | $617.8M | ||
| Q3 25 | $316.0M | $599.0M | ||
| Q2 25 | $307.9M | $544.8M | ||
| Q1 25 | $282.2M | $586.0M | ||
| Q4 24 | $263.3M | $481.1M | ||
| Q3 24 | $251.6M | $401.6M | ||
| Q2 24 | $258.6M | $315.6M | ||
| Q1 24 | $242.4M | $278.2M |
| Q4 25 | — | $20.6M | ||
| Q3 25 | $3.0M | $15.8M | ||
| Q2 25 | $2.1M | $42.5M | ||
| Q1 25 | $-829.0K | $49.5M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | $2.1M | $75.6M | ||
| Q2 24 | $8.9M | $13.3M | ||
| Q1 24 | $7.2M | $11.1M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 73.8% | ||
| Q2 25 | — | 76.4% | ||
| Q1 25 | — | 73.5% | ||
| Q4 24 | — | 76.8% | ||
| Q3 24 | — | 79.2% | ||
| Q2 24 | — | 81.3% | ||
| Q1 24 | — | 82.4% |
| Q4 25 | 2.9% | 1.5% | ||
| Q3 25 | 3.2% | 2.0% | ||
| Q2 25 | 2.4% | 4.9% | ||
| Q1 25 | 0.4% | 9.9% | ||
| Q4 24 | 1.5% | 3.9% | ||
| Q3 24 | 2.5% | 5.6% | ||
| Q2 24 | 6.4% | 3.5% | ||
| Q1 24 | 5.1% | 3.6% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | 0.9% | 2.6% | ||
| Q2 25 | 0.7% | 7.8% | ||
| Q1 25 | -0.3% | 8.4% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | 0.8% | 18.8% | ||
| Q2 24 | 3.4% | 4.2% | ||
| Q1 24 | 3.0% | 4.0% |
| Q4 25 | $0.24 | $0.08 | ||
| Q3 25 | $0.05 | $0.06 | ||
| Q2 25 | $0.03 | $0.17 | ||
| Q1 25 | $-0.01 | $0.20 | ||
| Q4 24 | $0.01 | $0.10 | ||
| Q3 24 | $0.03 | $0.32 | ||
| Q2 24 | $0.14 | $0.06 | ||
| Q1 24 | $0.12 | $0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $21.2M | $228.6M |
| Total DebtLower is stronger | $269.1M | — |
| Stockholders' EquityBook value | $626.3M | $540.9M |
| Total Assets | $1.7B | $2.2B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.2M | $228.6M | ||
| Q3 25 | $20.7M | $345.8M | ||
| Q2 25 | $19.2M | $1.1B | ||
| Q1 25 | $18.6M | $273.7M | ||
| Q4 24 | $33.3M | $220.6M | ||
| Q3 24 | $51.1M | $165.5M | ||
| Q2 24 | $45.1M | $129.3M | ||
| Q1 24 | $43.2M | $105.2M |
| Q4 25 | $269.1M | — | ||
| Q3 25 | $251.0M | — | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $191.5M | — | ||
| Q4 24 | $189.0M | — | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $192.1M | — | ||
| Q1 24 | $122.7M | — |
| Q4 25 | $626.3M | $540.9M | ||
| Q3 25 | $607.3M | $581.0M | ||
| Q2 25 | $601.3M | $562.7M | ||
| Q1 25 | $596.3M | $549.3M | ||
| Q4 24 | $595.4M | $476.7M | ||
| Q3 24 | $589.1M | $440.1M | ||
| Q2 24 | $585.8M | $362.0M | ||
| Q1 24 | $574.4M | $344.5M |
| Q4 25 | $1.7B | $2.2B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.7B | $1.9B | ||
| Q1 25 | $1.5B | $891.7M | ||
| Q4 24 | $1.5B | $707.5M | ||
| Q3 24 | $1.5B | $602.3M | ||
| Q2 24 | $1.4B | $480.5M | ||
| Q1 24 | $1.3B | $448.1M |
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.33× | — | ||
| Q1 24 | 0.21× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $18.5M | $61.3M |
| Free Cash FlowOCF − Capex | $-18.3M | $-2.5M |
| FCF MarginFCF / Revenue | -5.8% | -0.4% |
| Capex IntensityCapex / Revenue | 11.6% | 10.3% |
| Cash ConversionOCF / Net Profit | — | 2.98× |
| TTM Free Cash FlowTrailing 4 quarters | $-31.0M | $57.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $61.3M | ||
| Q3 25 | $47.9M | $148.7M | ||
| Q2 25 | $39.4M | $-19.1M | ||
| Q1 25 | $20.1M | $109.1M | ||
| Q4 24 | $22.9M | $86.4M | ||
| Q3 24 | $35.9M | $85.3M | ||
| Q2 24 | $31.9M | $53.6M | ||
| Q1 24 | $25.0M | $25.8M |
| Q4 25 | $-18.3M | $-2.5M | ||
| Q3 25 | $5.5M | $79.3M | ||
| Q2 25 | $-1.7M | $-69.5M | ||
| Q1 25 | $-16.4M | $50.1M | ||
| Q4 24 | $-17.7M | $59.5M | ||
| Q3 24 | $6.8M | $79.4M | ||
| Q2 24 | $2.3M | $47.6M | ||
| Q1 24 | $-3.6M | $11.8M |
| Q4 25 | -5.8% | -0.4% | ||
| Q3 25 | 1.7% | 13.2% | ||
| Q2 25 | -0.5% | -12.8% | ||
| Q1 25 | -5.8% | 8.5% | ||
| Q4 24 | -6.7% | 12.4% | ||
| Q3 24 | 2.7% | 19.8% | ||
| Q2 24 | 0.9% | 15.1% | ||
| Q1 24 | -1.5% | 4.3% |
| Q4 25 | 11.6% | 10.3% | ||
| Q3 25 | 13.4% | 11.6% | ||
| Q2 25 | 13.4% | 9.3% | ||
| Q1 25 | 13.0% | 10.1% | ||
| Q4 24 | 15.4% | 5.6% | ||
| Q3 24 | 11.6% | 1.5% | ||
| Q2 24 | 11.5% | 1.9% | ||
| Q1 24 | 11.8% | 5.0% |
| Q4 25 | — | 2.98× | ||
| Q3 25 | 16.01× | 9.43× | ||
| Q2 25 | 18.72× | -0.45× | ||
| Q1 25 | — | 2.20× | ||
| Q4 24 | — | 3.32× | ||
| Q3 24 | 16.98× | 1.13× | ||
| Q2 24 | 3.59× | 4.03× | ||
| Q1 24 | 3.46× | 2.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FWRG
| In Restaurant Dining Sales | $254.1M | 80% |
| Third Party Delivery Sales | $38.6M | 12% |
| Take Out Sales | $21.3M | 7% |
| Royalty And System Fund Contributions | $2.3M | 1% |
HIMS
Segment breakdown not available.
