First Watch Restaurant Group Inc.
FWRG | NASDAQ
$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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