Restaurant valuations are diverging between market-share winners and losers, with casual dining outpacing quick service. Fast-casual chains like Shake Shack and Cava can take market share this year but already trade at 100x and 124x 2025 EPS, respectively.   

For analysis on current restaurant valuations, Alix Steel and Paul Sweeney speak with Bloomberg Intelligence Senior Restaurant Analyst Michael Halen.

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