Wrapping up Q4 earnings, we look at the numbers and key takeaways for the modern fast food stocks, including Sweetgreen (NYSE: SG) and its peers.

Modern fast food is a relatively newer category representing a middle ground between traditional fast food and sit-down restaurants. These establishments feature an expanded menu selection priced above traditional fast food options, often incorporating fresher and cleaner ingredients to serve customers prioritizing quality. These eateries are capitalizing on the perception that your drive-through burger and fries joint is detrimental to your health because of inferior ingredients.

The 6 modern fast food stocks we track reported a satisfactory Q4. As a group, revenues were in line with analysts’ consensus estimates.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 14.8% since the latest earnings results.

Weakest Q4: Sweetgreen (NYSE: SG)

Founded in 2007 by three Georgetown University alum, Sweetgreen (NYSE: SG) is a casual quick service chain known for its healthy salads and bowls.

Sweetgreen reported revenues of $155.2 million, down 3.5% year on year. This print fell short of analysts’ expectations by 2.3%. Overall, it was a slower quarter for the company with full-year EBITDA guidance missing analysts’ expectations and a miss of analysts’ revenue estimates.

Sweetgreen delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. Unsurprisingly, the stock is down 22.3% since reporting and currently trades at $4.77.

Read our full report on Sweetgreen here, it’s free.

Best Q4: CAVA (NYSE: CAVA)

Starting from a single Washington, D.C. location, CAVA (NYSE: CAVA) operates a fast-casual restaurant chain offering customizable Mediterranean-inspired dishes.

CAVA reported revenues of $275 million, up 20.9% year on year, outperforming analysts’ expectations by 2.4%. The business had an exceptional quarter with a beat of analysts’ EPS and same-store sales estimates.

CAVA delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 12.1% since reporting. It currently trades at $76.

Is now the time to buy CAVA? Access our full analysis of the earnings results here, it’s free.

Wingstop (NASDAQ: WING)

The passion project of two chicken wing aficionados in Texas, Wingstop (NASDAQ: WING) is a popular fast-food chain known for its flavorful and crispy chicken wings offered in a variety of sauces and seasonings.

Wingstop reported revenues of $175.7 million, up 8.6% year on year, falling short of analysts’ expectations by 1.2%. It was a mixed quarter as it posted an impressive beat of analysts’ same-store sales estimates but a significant miss of analysts’ EBITDA estimates.

As expected, the stock is down 38.7% since the results and currently trades at $154.23.

Read our full analysis of Wingstop’s results here.

Shake Shack (NYSE: SHAK)

Started as a hot dog cart in New York City's Madison Square Park, Shake Shack (NYSE: SHAK) is a fast-food restaurant known for its burgers and milkshakes.

Shake Shack reported revenues of $400.5 million, up 21.9% year on year. This result was in line with analysts’ expectations. Aside from that, it was a mixed quarter as it also logged a beat of analysts’ EPS estimates but revenue in line with analysts’ estimates.

Shake Shack delivered the fastest revenue growth among its peers. The stock is down 9.8% since reporting and currently trades at $83.09.

Read our full, actionable report on Shake Shack here, it’s free.

Chipotle (NYSE: CMG)

Born from a desire to offer quick meals with fresh, flavorful ingredients, Chipotle (NYSE: CMG) is a fast-food chain known for its healthy, Mexican-inspired cuisine and customizable dishes.

Chipotle reported revenues of $2.98 billion, up 4.9% year on year. This number beat analysts’ expectations by 0.6%. It was a strong quarter as it also recorded same-store sales in line with analysts’ estimates and a decent beat of analysts’ EBITDA estimates.

The stock is down 20.8% since reporting and currently trades at $31.02.

Read our full, actionable report on Chipotle here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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