S&P 500 7,370.81 â–ŧ 101.98 (-1.36%) DOW 51,692.85 â–ŧ 19.86 (-0.04%) NASDAQ 25,611.30 â–ŧ 555.30 (-2.12%) US Markets Closed â€ĸ 04:05 PM ET

FWRG

First Watch Restaurant Group, Inc.

Price Chart
Latest Quote

$11.15

-0.41 (-3.55%)
Current Price
Previous Close $11.56
Open $11.38
Day High $11.62
Day Low $11.14
Volume 1,041,106
Fetched: 2026-06-23T20:05:25
Stock Information
Shares Outstanding 61.64M
Total Debt $1.03B
Cash Equivalents $23.57M
Revenue $1.27B
Net Income $17.58M
Sector Consumer Cyclical
Industry Restaurants
Market Cap $687.34M
P/E Ratio 39.82
EPS (TTM) $0.28
Exchange NMS
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📊 Comprehensive Analysis
Company Data
Enterprise Value$1.72B
Sales$1.27B
Income$17.58M
Book/sh$10.19
Cash/sh$0.38
Employees18K
Financial Ratios
Quick Ratio0.17
Current Ratio0.29
Debt/Eq164.29
Returns & Margins
ROA1.25%
ROE2.87%
Gross Margin20.66%
Operating Margin0.82%
Profit Margin1.38%
Ownership
Insider Ownership1.85%
Institutional Ownership112.29%
Insider & Institutional transactions data not available
Valuation Ratios
Forward P/E41.97
P/S0.54
P/B1.09
Analyst Data
Recommendationnone
Target Price$19.45
Technical Indicators
SMA20$11.21
SMA50$11.72
SMA200$14.62
RSI57.54
ATR0.6477
Shares Float57.43M
Short Float8.54%
Short Ratio3.24
Volatility1.06
Rel Volume0.83
Performance History
Week-5.91%
Month-1.68%
Quarter-9.72%
6 Months-35.17%
YTD-27.46%
Year-29.56%
3 Years-33.07%
10 Years-49.62%
Stock Score: ⭐ Premium
Based on debt, profitability, growth, and cash flow metrics
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Recent Price History
Date Close Volume
2026-06-23 $11.15 1,041,106
2026-06-22 $11.56 1,107,200
2026-06-18 $11.81 897,500
2026-06-17 $11.48 894,900
2026-06-16 $11.60 980,100
2026-06-15 $11.85 1,368,500
2026-06-12 $12.39 1,460,600
2026-06-11 $11.94 1,231,300
2026-06-10 $10.98 1,318,800
2026-06-09 $10.26 1,241,200
2026-06-08 $10.34 1,020,000
2026-06-05 $10.18 1,013,000
2026-06-04 $10.24 1,362,500
2026-06-03 $10.53 1,524,200
2026-06-02 $10.44 1,568,700
2026-06-01 $11.13 1,230,800
2026-05-29 $11.63 1,362,300
2026-05-28 $11.69 1,224,200
2026-05-27 $11.50 1,594,300
2026-05-26 $11.54 1,657,700
Period:
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Income Statement (Annual)
Metric 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Revenue
Reconciled Cost Of Revenue $988,048,000 $802,906,000 $701,434,000 $590,627,000
Cost Of Revenue $988,048,000 $802,906,000 $701,434,000 $590,627,000
Total Revenue $1,222,501,000 $1,015,910,000 $891,551,000 $730,162,000
Operating Revenue $1,222,501,000 $1,015,910,000 $891,551,000 $730,162,000
Expenses
Interest Expense $16,699,000 $12,640,000 $8,063,000 $5,232,000
Total Expenses $1,192,009,000 $973,891,000 $845,778,000 $709,816,000
Rent Expense Supplemental $100,788,000 $82,694,000 $68,400,000 $59,919,000
Other Income Expense $-1,660,000 $-1,353,000 $-1,635,000 $-2,523,000
Other Non Operating Income Expenses $1,321,000 $1,759,000 $2,871,000 $910,000
Net Non Operating Interest Income Expense $-16,699,000 $-12,640,000 $-8,063,000 $-5,232,000
Interest Expense Non Operating $16,699,000 $12,640,000 $8,063,000 $5,232,000
Operating Expense $203,961,000 $170,985,000 $144,344,000 $119,189,000
General And Administrative Expense $128,950,000 $113,270,000 $103,121,000 $84,959,000
Other Operating Expenses - - - -
Income & Earnings
Net Income From Continuing Operation Net Minority Interest $19,432,000 $18,925,000 $25,385,000 $6,907,000
Net Interest Income $-16,699,000 $-12,640,000 $-8,063,000 $-5,232,000
Normalized Income $21,786,990 $21,025,600 $28,557,224 $9,619,070
Net Income From Continuing And Discontinued Operation $19,432,000 $18,925,000 $25,385,000 $6,907,000
Total Operating Income As Reported $27,511,000 $38,907,000 $41,267,000 $16,913,000
Net Income Common Stockholders $19,432,000 $18,925,000 $25,385,000 $6,907,000
Net Income $19,432,000 $18,925,000 $25,385,000 $6,907,000
Net Income Including Noncontrolling Interests $19,432,000 $18,925,000 $25,385,000 $6,907,000
Net Income Continuous Operations $19,432,000 $18,925,000 $25,385,000 $6,907,000
Pretax Income $12,133,000 $28,026,000 $36,075,000 $12,591,000
Special Income Charges $-2,981,000 $-3,112,000 $-4,506,000 $-3,433,000
Operating Income $30,492,000 $42,019,000 $45,773,000 $20,346,000
Depreciation Amortization Depletion Income Statement $75,011,000 $57,715,000 $41,223,000 $34,230,000
Depreciation And Amortization In Income Statement $75,011,000 $57,715,000 $41,223,000 $34,230,000
Gross Profit $234,453,000 $213,004,000 $190,117,000 $139,535,000
Per Share
Diluted EPS $0.31 $0.30 $0.41 $0.11
Basic EPS $0.32 $0.31 $0.43 $0.12
Other
Tax Effect Of Unusual Items $-626,010 $-1,011,400 $-1,333,776 $-720,930
Tax Rate For Calcs $0 $0 $0 $0
Normalized EBITDA (Bullshit earnings) $106,824,000 $101,493,000 $89,867,000 $55,486,000
Total Unusual Items $-2,981,000 $-3,112,000 $-4,506,000 $-3,433,000
Total Unusual Items Excluding Goodwill $-2,981,000 $-3,112,000 $-4,506,000 $-3,433,000
Reconciled Depreciation $75,011,000 $57,715,000 $41,223,000 $34,230,000
EBITDA (Bullshit earnings) $103,843,000 $98,381,000 $85,361,000 $52,053,000
EBIT $28,832,000 $40,666,000 $44,138,000 $17,823,000
Diluted Average Shares $62,842,519 $62,351,222 $61,191,613 $60,140,045
Basic Average Shares $60,963,587 $60,365,393 $59,531,404 $59,097,512
Diluted NI Availto Com Stockholders $19,432,000 $18,925,000 $25,385,000 $6,907,000
Tax Provision $-7,299,000 $9,101,000 $10,690,000 $5,684,000
Other Special Charges $1,306,000 $1,527,000 $1,158,000 $1,957,000
Impairment Of Capital Assets $448,000 $525,000 $1,359,000 $920,000
Restructuring And Mergern Acquisition $1,227,000 $1,060,000 $1,989,000 $556,000
Selling General And Administration $128,950,000 $113,270,000 $103,121,000 $84,959,000
Other Gand A $128,950,000 $113,270,000 $103,121,000 $84,959,000
Minority Interests - - - -
Fetched: 2026-06-15
Balance Sheet (Annual)
Metric 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Assets
Net Tangible Assets $31,163,000 $29,228,000 $50,215,000 $34,765,000
Total Assets $1,742,029,000 $1,514,356,000 $1,267,045,000 $1,104,446,000
Total Non Current Assets $1,692,949,000 $1,458,480,000 $1,195,855,000 $1,037,158,000
Other Non Current Assets $4,834,000 $3,251,000 $1,703,000 $1,298,000
Goodwill And Other Intangible Assets $595,116,000 $566,161,000 $511,069,000 $488,370,000
Other Intangible Assets $174,908,000 $167,596,000 $151,186,000 $143,151,000
Current Assets $49,080,000 $55,876,000 $71,190,000 $67,288,000
Other Current Assets $5,856,000 $2,204,000 $2,365,000 $373,000
Prepaid Assets $7,945,000 $7,008,000 $7,494,000 $5,800,000
Inventory $7,174,000 $6,117,000 $5,381,000 $5,028,000
Receivables $6,859,000 $7,235,000 $5,532,000 $6,164,000
Other Receivables $3,884,000 $4,803,000 $2,583,000 $4,114,000
Accounts Receivable $2,975,000 $2,432,000 $2,949,000 $2,050,000
Cash Cash Equivalents And Short Term Investments $21,246,000 $33,312,000 $49,632,000 $49,672,000
Cash And Cash Equivalents $21,246,000 $33,312,000 $49,632,000 $49,672,000
Hedging Assets Current - $20,000 $457,000 $0
Restricted Cash - $0 $329,000 $251,000
Debt
Net Debt $261,134,000 $164,959,000 $75,763,000 $52,629,000
Total Debt $1,008,668,000 $809,551,000 $606,966,000 $507,350,000
Long Term Debt And Capital Lease Obligation $920,325,000 $744,619,000 $561,057,000 $460,781,000
Long Term Debt $269,071,000 $189,043,000 $119,767,000 $94,668,000
Current Debt And Capital Lease Obligation $88,343,000 $64,932,000 $45,909,000 $46,569,000
Current Debt $13,309,000 $9,228,000 $5,628,000 $7,633,000
Other Current Borrowings $13,309,000 $9,228,000 $5,628,000 $6,257,000
Liabilities
Total Liabilities Net Minority Interest $1,115,750,000 $918,967,000 $705,761,000 $581,311,000
Total Non Current Liabilities Net Minority Interest $948,251,000 $780,495,000 $590,688,000 $481,331,000
Other Non Current Liabilities $5,397,000 $3,155,000 $2,954,000 $3,384,000
Derivative Product Liabilities $557,000 $503,000 $1,346,000 $0
Non Current Deferred Liabilities $21,972,000 $32,218,000 $25,331,000 $17,166,000
Non Current Deferred Taxes Liabilities $21,972,000 $32,218,000 $25,331,000 $17,166,000
Current Liabilities $167,499,000 $138,472,000 $115,073,000 $99,980,000
Other Current Liabilities $900,000 $105,000 - -
Current Deferred Liabilities $6,778,000 $5,623,000 $5,499,000 $5,193,000
Payables And Accrued Expenses $43,150,000 $44,047,000 $40,361,000 $28,790,000
Payables $18,960,000 $15,710,000 $13,409,000 $12,332,000
Total Tax Payable $10,259,000 $8,749,000 $7,085,000 $4,742,000
Accounts Payable $8,701,000 $6,961,000 $6,324,000 $7,590,000
Interest Payable - $267,000 $401,000 $1,506,000
Current Notes Payable - - $0 $1,376,000
Equity
Common Stock Equity $626,279,000 $595,389,000 $561,284,000 $523,135,000
Total Equity Gross Minority Interest $626,279,000 $595,389,000 $561,284,000 $523,135,000
Stockholders Equity $626,279,000 $595,389,000 $561,284,000 $523,135,000
Gains Losses Not Affecting Retained Earnings $-1,095,000 $-441,000 $-667,000 $0
Other Equity Adjustments $-1,095,000 $-441,000 $-667,000 -
Retained Earnings $-34,390,000 $-53,822,000 $-72,747,000 $-98,132,000
Other
Ordinary Shares Number $61,131,978 $60,700,090 $59,891,705 $59,211,019
Share Issued $61,131,978 $60,700,090 $59,891,705 $59,211,019
Tangible Book Value $31,163,000 $29,228,000 $50,215,000 $34,765,000
Invested Capital $908,659,000 $793,660,000 $686,679,000 $625,436,000
Working Capital $-118,419,000 $-82,596,000 $-43,883,000 $-32,692,000
Capital Lease Obligations $726,288,000 $611,280,000 $481,571,000 $405,049,000
Total Capitalization $895,350,000 $784,432,000 $681,051,000 $617,803,000
Additional Paid In Capital $661,153,000 $649,045,000 $634,099,000 $620,675,000
Capital Stock $611,000 $607,000 $599,000 $592,000
Common Stock $611,000 $607,000 $599,000 $592,000
Preferred Stock $0 $0 $0 $0
Long Term Capital Lease Obligation $651,254,000 $555,576,000 $441,290,000 $366,113,000
Current Deferred Revenue $6,778,000 $5,623,000 $5,499,000 $5,193,000
Current Capital Lease Obligation $75,034,000 $55,704,000 $40,281,000 $38,936,000
Pensionand Other Post Retirement Benefit Plans Current $28,328,000 $23,765,000 $23,304,000 $17,899,000
Current Accrued Expenses $24,190,000 $28,337,000 $26,952,000 $16,458,000
Goodwill $420,208,000 $398,565,000 $359,883,000 $345,219,000
Net PPE $1,092,999,000 $889,068,000 $683,083,000 $547,490,000
Accumulated Depreciation $-285,706,000 $-229,227,000 $-181,481,000 $-145,720,000
Gross PPE $1,378,705,000 $1,118,295,000 $864,564,000 $693,210,000
Leases $434,438,000 $324,389,000 $240,976,000 $178,893,000
Construction In Progress $36,144,000 $34,779,000 $17,474,000 $10,482,000
Other Properties $626,279,000 $532,986,000 $423,145,000 $355,439,000
Machinery Furniture Equipment $279,300,000 $223,597,000 $180,425,000 $145,852,000
Buildings And Improvements $1,354,000 $1,354,000 $1,354,000 $1,354,000
Land And Improvements $1,190,000 $1,190,000 $1,190,000 $1,190,000
Properties $0 $0 $0 $0
Current Provisions - - $1,593,000 $1,529,000
Fetched: 2026-06-15
Cash Flow Statement (Annual)
Metric 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Free Cash Flow
Free Cash Flow $-31,844,000 $-12,342,000 $11,848,000 $-393,000
Operating Activities
Operating Cash Flow $125,912,000 $115,673,000 $95,338,000 $62,937,000
Cash Flow From Continuing Operating Activities $125,912,000 $115,673,000 $95,338,000 $62,937,000
Operating Gains Losses - $358,000 - -
Investing Activities
Capital Expenditure $-157,756,000 $-128,015,000 $-83,490,000 $-63,330,000
Investing Cash Flow $-213,764,000 $-206,653,000 $-123,370,000 $-63,111,000
Cash Flow From Continuing Investing Activities $-213,764,000 $-206,653,000 $-123,370,000 $-63,111,000
Capital Expenditure Reported $-156,906,000 $-127,915,000 $-83,329,000 $-62,219,000
Net Other Investing Changes - $34,000 $1,198,000 $219,000
Financing Activities
Financing Cash Flow $75,786,000 $74,331,000 $28,070,000 $-2,018,000
Cash Flow From Continuing Financing Activities $75,786,000 $74,331,000 $28,070,000 $-2,018,000
Net Other Financing Charges - $-2,805,000 $-198,000 $-78,000
Issuance Of Capital Stock - - $0 $0
Net Common Stock Issuance - - $0 $0
Common Stock Issuance - - $0 $0
Net Preferred Stock Issuance - - - $0
Preferred Stock Issuance - - - $0
Other
Repayment Of Debt $-396,407,000 $-149,293,000 $-7,559,000 $-5,257,000
Issuance Of Debt $471,000,000 $220,000,000 $30,000,000 $1,892,000
Interest Paid Supplemental Data $15,507,000 $12,328,000 $8,725,000 $3,368,000
Income Tax Paid Supplemental Data $2,562,000 $3,108,000 $1,952,000 $915,000
End Cash Position $21,246,000 $33,312,000 $49,961,000 $49,923,000
Beginning Cash Position $33,312,000 $49,961,000 $49,923,000 $52,115,000
Changes In Cash $-12,066,000 $-16,649,000 $38,000 $-2,192,000
Proceeds From Stock Option Exercised $1,193,000 $6,429,000 $5,827,000 $1,425,000
Net Issuance Payments Of Debt $74,593,000 $70,707,000 $22,441,000 $-3,365,000
Net Long Term Debt Issuance $74,593,000 $70,707,000 $22,441,000 $-3,365,000
Long Term Debt Payments $-396,407,000 $-149,293,000 $-7,559,000 $-5,257,000
Long Term Debt Issuance $471,000,000 $220,000,000 $30,000,000 $1,892,000
Net Business Purchase And Sale $-56,008,000 $-78,638,000 $-39,880,000 $0
Purchase Of Business $-56,008,000 $-78,638,000 $-39,880,000 $0
Net Intangibles Purchase And Sale $-850,000 $-100,000 $-161,000 $-1,111,000
Purchase Of Intangibles $-850,000 $-100,000 $-161,000 $-1,111,000
Change In Working Capital $-3,158,000 $-4,344,000 $-8,472,000 $-10,436,000
Change In Other Working Capital $555,000 $-136,000 $-657,000 $719,000
Change In Other Current Liabilities $-8,056,000 $-5,401,000 $-11,767,000 $-7,357,000
Change In Payables And Accrued Expense $11,357,000 $2,818,000 $8,593,000 $-2,028,000
Change In Accrued Expense $9,617,000 $2,181,000 $9,894,000 $1,442,000
Change In Payable $1,740,000 $637,000 $-1,301,000 $-3,470,000
Change In Account Payable $1,740,000 $637,000 $-1,301,000 $-3,470,000
Change In Prepaid Assets $-6,523,000 $586,000 $-5,211,000 $-123,000
Change In Inventory $-867,000 $-508,000 $-62,000 $-1,005,000
Change In Receivables $376,000 $-1,703,000 $632,000 $-1,714,000
Changes In Account Receivables $376,000 $-1,703,000 $632,000 $-1,714,000
Other Non Cash Items $33,450,000 $27,146,000 $19,924,000 $16,265,000
Stock Based Compensation $10,760,000 $8,525,000 $7,604,000 $10,374,000
Asset Impairment Charge $448,000 $525,000 $1,359,000 $920,000
Deferred Tax $-10,031,000 $6,823,000 $8,315,000 $4,677,000
Deferred Income Tax $-10,031,000 $6,823,000 $8,315,000 $4,677,000
Depreciation Amortization Depletion $75,011,000 $57,715,000 $41,223,000 $34,230,000
Depreciation And Amortization $75,011,000 $57,715,000 $41,223,000 $34,230,000
Net Income From Continuing Operations $19,432,000 $18,925,000 $25,385,000 $6,907,000
Net Short Term Debt Issuance - $22,500,000 $-1,376,000 $-976,000
Short Term Debt Issuance - $22,500,000 $0 $1,892,000
Change In Other Current Assets - $111,000 $-2,342,000 $1,072,000
Short Term Debt Payments - - $-1,376,000 $-2,868,000
Amortization Cash Flow - - - $1,000
Amortization Of Intangibles - - - $1,000
Depreciation - - - $33,300
Fetched: 2026-06-15