First Watch Restaurant Group Inc. logo

First Watch Restaurant Group Inc.

FWRG | NASDAQ
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$10.52
+$0.38 (+3.75%)
Sep 22, 2026, 10:41 AM ET · Market open

Market Data

Market Cap
$625.76M
Enterprise Value
$1.68B
Beta
1.03
Average Volume
1.21M
Shares Outstanding (Diluted)
62.3M
Shares Change YoY
-0.45%
Institutional Ownership
N/A
Exchange
NASDAQ
ISIN
US33748L1017

Price Performance

Price Change 1M
-22.5%
Price Change 3M
-9.1%
Price Change 6M
-10.0%
Price Change YTD
-34.0%
Price Change 1Y
-35.5%
Price Change 3Y
-43.4%
Price Change 5Y
-54.2%
1M CAGR (ann.)
-18.4%
1Y CAGR (ann.)
-38.7%
5Y CAGR (ann.)
N/A
All-Time CAGR
-14.5%

Valuation

PE Ratio
36.21
Forward PE
38.51
PEG Ratio
0.09
Forward PEG
0.27
PS Ratio
0.47
Forward PS
0.40
PB Ratio
0.99
P/FCF Ratio
-66.12
P/Adj. FCF Ratio
-29.36
P/OCF Ratio
4.88
EV/Sales
1.27
EV/EBIT
87.09
EV/EBITDA
16.33
EV/FCF
-177.38
Earnings Yield
2.8%
FCF Yield
-1.5%
Adj. FCF Yield
-3.4%

Financial Health

Net Debt
$272.05M
Total Debt
$1.07B
Cash & Short-Term Investments
$20.49M
Total Assets
$1.82B
Current Ratio
0.27
Quick Ratio
0.22
Debt / Equity Ratio
1.69
Debt / EBITDA
10.44
Debt / FCF
-113.43
OCF / Debt
0.13
Interest Coverage
6.06
Altman Z-Score
0.96
Piotroski F-Score
5

Margins & Profitability

Gross Profit Margin
33.7%
Operating Profit Margin
4.3%
EBITDA Margin
7.8%
Net Profit Margin
1.4%
FCF Margin
-0.7%
Adj. FCF Margin
-1.6%
SBC / Revenue
1.0%
SBC Impact (per share)
-125.2%

Returns

Return on Assets
1.0%
Return on Equity
2.9%
Return on Invested Capital
3.2%
Return on Capital Employed
3.4%
Return on Tangible Assets
1.4%

Historical Growth (CAGR)

Revenue CAGR 3Y
18.1%
Revenue CAGR 5Y
21.9%
Revenue CAGR 10Y
N/A
EPS CAGR 3Y
1.2%
EPS CAGR 5Y
10.5%
EPS CAGR 10Y
N/A
FCF CAGR 3Y
-43.8%
FCF CAGR 5Y
-1369.3%
FCF CAGR 10Y
N/A

Analyst Forecasts

Analyst Rating
Buy
Analyst Count
15
EPS Growth Next 3Y
11.9%
Revenue Growth Next 3Y
12.2%
Earnings Date
Nov 2, 2026
EPS Estimate (next Q)
$0.08
EPS Growth Est (next Q)
60.0%
Revenue Est (next Q)
$349.53M
Revenue Growth Est (next Q)
10.6%

Fair Value Estimates

Graham Number
$8.05
Graham Upside
-20.6%
Lynch Fair Value
$2.93
Lynch Upside
-71.1%
Price Target
$14
Price Target Upside
38.1%

Cash Flow

Operating Cash Flow
$140.23M
Free Cash Flow
$-9.46M
Adj. Free Cash Flow
$-21.32M
FCF Per Share
-$0.34
OCF Per Share
$2.08
OCF/S Ratio
9.7%

Income Statement

Revenue
$1.32B
Gross Profit
$444.17M
Operating Income
$56.04M
EBITDA
$102.83M
Net Income
$17.81M
EPS (Diluted)
$0.28
Revenue / Employee
$73.22K
Profit / Employee
$989.39
Employees
18,000

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