The average in that set is basically meaningless: without WING the average PE is 25.6 (not great, not that outlandish) and the average EV/EBITDA is 17.6 (setting aside that averaging ratios is somewhat innumerate anyway). I'm short WING.
Fast food and delivery are going to be challenged by GLP-1: those models are fundamentally about calor…
The average in that set is basically meaningless: without WING the average PE is 25.6 (not great, not that outlandish) and the average EV/EBITDA is 17.6 (setting aside that averaging ratios is somewhat innumerate anyway). I'm short WING.
Fast food and delivery are going to be challenged by GLP-1: those models are fundamentally about calorie delivery. But sit-down will more likely be OK, as selling calories is a small part of that bundle: what's really being sold is a lease on a table or spot at the bar to socialize. The lease is now mostly monetized with alcohol (the GLP-1 impact on that demand seems under covered), but bundle monetization can shift: tapas and expensive sparkling water?
The average in that set is basically meaningless: without WING the average PE is 25.6 (not great, not that outlandish) and the average EV/EBITDA is 17.6 (setting aside that averaging ratios is somewhat innumerate anyway). I'm short WING.
Fast food and delivery are going to be challenged by GLP-1: those models are fundamentally about calorie delivery. But sit-down will more likely be OK, as selling calories is a small part of that bundle: what's really being sold is a lease on a table or spot at the bar to socialize. The lease is now mostly monetized with alcohol (the GLP-1 impact on that demand seems under covered), but bundle monetization can shift: tapas and expensive sparkling water?