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Side-by-side financial comparison of First Watch Restaurant Group, Inc. (FWRG) and MOTORCAR PARTS OF AMERICA INC (MPAA). Click either name above to swap in a different company.
First Watch Restaurant Group, Inc. is the larger business by last-quarter revenue ($316.4M vs $167.7M, roughly 1.9× MOTORCAR PARTS OF AMERICA INC). On growth, First Watch Restaurant Group, Inc. posted the faster year-over-year revenue change (20.2% vs -9.9%). MOTORCAR PARTS OF AMERICA INC produced more free cash flow last quarter ($-8.6M vs $-18.3M). Over the past eight quarters, First Watch Restaurant Group, Inc.'s revenue compounded faster (14.2% CAGR vs -5.9%).
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.
Toyota Motor North America (TMNA) is the operating subsidiary that oversees all operations of the Toyota Motor Corporation in Canada, Mexico, and the United States. Its operations include research and development, manufacturing, sales, marketing, after sales and corporate functions, which are controlled by TMNA but sometimes executed by other subsidiaries and holding companies. The company is headquartered in Plano, Texas, with offices in several locations including Georgetown, Kentucky, Ann ...
FWRG vs MPAA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $316.4M | $167.7M |
| Net Profit | — | $1.8M |
| Gross Margin | — | 19.6% |
| Operating Margin | 2.9% | 5.0% |
| Net Margin | — | 1.1% |
| Revenue YoY | 20.2% | -9.9% |
| Net Profit YoY | — | -22.4% |
| EPS (diluted) | $0.24 | $0.09 |
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 | $167.7M | ||
| Q3 25 | $316.0M | $221.5M | ||
| Q2 25 | $307.9M | $188.4M | ||
| Q1 25 | $282.2M | $193.1M | ||
| Q4 24 | $263.3M | $186.2M | ||
| Q3 24 | $251.6M | $208.2M | ||
| Q2 24 | $258.6M | $169.9M | ||
| Q1 24 | $242.4M | $189.5M |
| Q4 25 | — | $1.8M | ||
| Q3 25 | $3.0M | $-2.1M | ||
| Q2 25 | $2.1M | $3.0M | ||
| Q1 25 | $-829.0K | $-722.0K | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | $2.1M | $-3.0M | ||
| Q2 24 | $8.9M | $-18.1M | ||
| Q1 24 | $7.2M | $1.3M |
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 24.1% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 18.4% |
| Q4 25 | 2.9% | 5.0% | ||
| Q3 25 | 3.2% | 7.4% | ||
| Q2 25 | 2.4% | 10.7% | ||
| Q1 25 | 0.4% | 8.4% | ||
| Q4 24 | 1.5% | 9.4% | ||
| Q3 24 | 2.5% | 6.0% | ||
| Q2 24 | 6.4% | -3.8% | ||
| Q1 24 | 5.1% | 6.4% |
| Q4 25 | — | 1.1% | ||
| Q3 25 | 0.9% | -1.0% | ||
| Q2 25 | 0.7% | 1.6% | ||
| Q1 25 | -0.3% | -0.4% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | 0.8% | -1.4% | ||
| Q2 24 | 3.4% | -10.6% | ||
| Q1 24 | 3.0% | 0.7% |
| Q4 25 | $0.24 | $0.09 | ||
| Q3 25 | $0.05 | $-0.11 | ||
| Q2 25 | $0.03 | $0.15 | ||
| Q1 25 | $-0.01 | $-0.03 | ||
| Q4 24 | $0.01 | $0.11 | ||
| Q3 24 | $0.03 | $-0.15 | ||
| Q2 24 | $0.14 | $-0.92 | ||
| Q1 24 | $0.12 | $0.06 |
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 | $19.6M |
| Total DebtLower is stronger | $269.1M | — |
| Stockholders' EquityBook value | $626.3M | $258.5M |
| Total Assets | $1.7B | $991.3M |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.2M | $19.6M | ||
| Q3 25 | $20.7M | $17.7M | ||
| Q2 25 | $19.2M | $14.5M | ||
| Q1 25 | $18.6M | $11.3M | ||
| Q4 24 | $33.3M | $12.7M | ||
| Q3 24 | $51.1M | $12.3M | ||
| Q2 24 | $45.1M | $9.4M | ||
| Q1 24 | $43.2M | $15.8M |
| 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 | $258.5M | ||
| Q3 25 | $607.3M | $258.5M | ||
| Q2 25 | $601.3M | $260.1M | ||
| Q1 25 | $596.3M | $257.7M | ||
| Q4 24 | $595.4M | $262.7M | ||
| Q3 24 | $589.1M | $264.0M | ||
| Q2 24 | $585.8M | $267.2M | ||
| Q1 24 | $574.4M | $285.1M |
| Q4 25 | $1.7B | $991.3M | ||
| Q3 25 | $1.7B | $990.0M | ||
| Q2 25 | $1.7B | $973.4M | ||
| Q1 25 | $1.5B | $957.6M | ||
| Q4 24 | $1.5B | $949.5M | ||
| Q3 24 | $1.5B | $986.2M | ||
| Q2 24 | $1.4B | $978.0M | ||
| Q1 24 | $1.3B | $1.0B |
| 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 | $-8.2M |
| Free Cash FlowOCF − Capex | $-18.3M | $-8.6M |
| FCF MarginFCF / Revenue | -5.8% | -5.2% |
| Capex IntensityCapex / Revenue | 11.6% | 0.2% |
| Cash ConversionOCF / Net Profit | — | -4.63× |
| TTM Free Cash FlowTrailing 4 quarters | $-31.0M | $27.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $-8.2M | ||
| Q3 25 | $47.9M | $21.9M | ||
| Q2 25 | $39.4M | $10.0M | ||
| Q1 25 | $20.1M | $9.1M | ||
| Q4 24 | $22.9M | $34.4M | ||
| Q3 24 | $35.9M | $22.9M | ||
| Q2 24 | $31.9M | $-20.8M | ||
| Q1 24 | $25.0M | $-9.3M |
| Q4 25 | $-18.3M | $-8.6M | ||
| Q3 25 | $5.5M | $20.8M | ||
| Q2 25 | $-1.7M | $9.2M | ||
| Q1 25 | $-16.4M | $6.2M | ||
| Q4 24 | $-17.7M | $33.7M | ||
| Q3 24 | $6.8M | $22.3M | ||
| Q2 24 | $2.3M | $-21.3M | ||
| Q1 24 | $-3.6M | $-9.8M |
| Q4 25 | -5.8% | -5.2% | ||
| Q3 25 | 1.7% | 9.4% | ||
| Q2 25 | -0.5% | 4.9% | ||
| Q1 25 | -5.8% | 3.2% | ||
| Q4 24 | -6.7% | 18.1% | ||
| Q3 24 | 2.7% | 10.7% | ||
| Q2 24 | 0.9% | -12.6% | ||
| Q1 24 | -1.5% | -5.2% |
| Q4 25 | 11.6% | 0.2% | ||
| Q3 25 | 13.4% | 0.5% | ||
| Q2 25 | 13.4% | 0.4% | ||
| Q1 25 | 13.0% | 1.5% | ||
| Q4 24 | 15.4% | 0.4% | ||
| Q3 24 | 11.6% | 0.3% | ||
| Q2 24 | 11.5% | 0.3% | ||
| Q1 24 | 11.8% | 0.3% |
| Q4 25 | — | -4.63× | ||
| Q3 25 | 16.01× | — | ||
| Q2 25 | 18.72× | 3.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 15.00× | ||
| Q3 24 | 16.98× | — | ||
| Q2 24 | 3.59× | — | ||
| Q1 24 | 3.46× | -6.93× |
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% |
MPAA
| Reportable Segment Aggregation Before Other Operating Segment | $156.3M | 93% |
| Other | $11.4M | 7% |
