Jersey Mike's Subs (JMKE)
Operates a franchised system of made-to-order submarine sandwich restaurants.
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Operates a predominantly franchised fast-casual sandwich system, earning most revenue from franchise royalties and related fees while company-run locations serve as a limited test-and-training fleet. Its United States and Canadian network depends on independent franchise owners for store-level operations.
Runs a predominantly franchised fast-casual restaurant system centered on made-to-order submarine sandwiches. Cold meats and cheeses are sliced in front of the customer, while hot subs are cooked on a flat-top grill; the menu also includes sides, drinks, desserts, wraps and bowls. Orders move through restaurants, the MyMike's app and website, delivery partners, and catering.
Generates most revenue from franchise royalties and related supplier-program and technology fees, alongside franchise-owner advertising contributions and a small company-operated test-and-training fleet. Supports franchisees through brand standards, training, advertising, digital infrastructure, products and preparation requirements. Operates across the United States and Canada, with international development tied to franchise programs in Canada, the United Kingdom and Ireland. Nearly all locations are independent franchise operations, while Blackstone affiliates retain control through a post-IPO Up-C governance structure.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 25, 2026 | UBS | Initiate | Rating: — | |
| Aug 24, 2026 | William Blair | Initiate | Rating: — | |
| Aug 24, 2026 | Raymond James | Initiate | Rating: — | |
| Aug 24, 2026 | Wolfe Research | Initiate | Rating: — | |
| Aug 24, 2026 | Wells Fargo | Initiate | Rating: —Target: — | Target: $25 |
Not reported.
Not reported.
No dividends on record.
| Insiders | 59.11% | 137.62M shares | |
|---|---|---|---|
| 9 holders · as of Sep 17, 2026 | |||
| Other | 40.89% | 95.21M shares | |
| remainder | |||
232.83M company shares as of Aug 21, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
ML Holdco I. L.P. BoardwalkInsider10 percent owner | 29.55% | 44.10M · 12.35M · 12.35M | filed Sep 17, 2026 |
Dhabi Investment Authority AbuInsider10 percent owner | 15.35% | 35.73M | filed Aug 27, 2026 |
ML Holdco III L.P. BoardwalkInsider10 percent owner | 14.14% | 88,554 · 32.83M | filed Sep 17, 2026 |
Nigel TravisInsiderdirector, other: Chairman | 0.04% | 50,300 · 50,300 · 1,202 | filed Aug 4, 2026 |
Michele AllenInsiderofficer: Chief Financial Officer | 0.02% | 18,675 · 18,675 · 11,543 | filed Aug 4, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Dhabi Investment Authority Abu | 10 percent owner | −382,134 | $21.85 |
| Aug 25, 2026 | Blackstone Holdings II L.P. | 10 percent owner | −2,572,560 | $21.85 |
| Aug 25, 2026 | Submarine Buyer LLC | 10 percent owner | −2,572,560 | $21.85 |
| Jul 31, 2026 | Dhabi Investment Authority Abu | 10 percent owner | −4,411,064 | $21.85 |
| Jul 31, 2026 | Blackstone Holdings II L.P. | 10 percent owner | −29,695,652 | $21.85 |
- Restaurant Brands International
Closest listed rival in specialty subs, catering and digital ordering.
- Chipotle Mexican Grill
Head-to-head for fast-casual lunch, dinner and digital orders.
- Yum! Brands
Head-to-head for value-oriented quick-service meal occasions.
- CAVA
Fresh fast-casual bowls and pitas contest sandwich meal occasions.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Jersey Mike's Subs | $17.75 | −3.64% | $4.29B | — | — | — | — |
| Restaurant Brands International | $71.45 | −0.64% | $24.95B | 21.2 | 16.8 | 2.6 | +4.6% |
| Chipotle Mexican Grill | $32.40 | −0.72% | $41.85B | 29.9 | 25.6 | 3.4 | +9.3% |
| Yum! Brands | $139.27 | −0.31% | $38.51B | 17.6 | 20.8 | 4.4 | +12.2% |
| CAVA | $52.32 | −0.65% | $6.13B | 95.5 | 85.1 | 4.5 | +31.3% |
| Median | 25.6 | 23.2 | 3.9 | +10.8% |