First Watch Restaurant Group, Inc. FWRG R2KR3K
Company Overview
First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc. and changed its name to First Watch Restaurant Group, Inc. in December 2019. First Watch Restaurant Group, Inc. was founded in 1983 and is based in Bradenton, Florida.
Why Investors Should Care
Revenue has grown at a 18.7% CAGR over the past five years.
Recent Developments
- Dec 2025 Revenue of $1.22B (+20.3% YoY); net profit $19.43M.
- Trailing 12 Months Year-on-year growth — revenue +15.2%, earnings +26.4%.
- 5-Year Trend Long-term compounding — revenue CAGR 18.7%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 18.73% |
| 1 Year: | 15.20% |
Compounded Profit Growth
| 5 Years: | - |
| 1 Year: | 26.40% |
Stock Price Performance
| 1 Year: | -39.16% |
| 6 Months: | -18.00% |
| 3 Months: | -15.48% |
| 1 Month: | +6.56% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMABelow
- Price vs 200-DMABelow
- RSI (14)45.13 · Neutral
P/E of 38.89 is above the sector median of 18.27 — pricier than peers.
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Compounding revenue at 18.7% over 5 years.
CONS
- Trading 43.2% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Consumer Cyclical).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | FWRG First Watch Restaurant Group, Inc. R2KR3K | 10.89 | 38.89 | $672.05M | 0.00% | 1.75% | 2.88% | 18.73% | - |
| 2 | AMZN Amazon.com, Inc. NDXSPXR3KAITECH | 248.00 | 19.95 | $2.68T | 0.00% | 13.33% | 30.56% | 24.04% | 32.72% |
| 3 | TSLA Tesla, Inc. NDXSPXR3KAI | 372.22 | 351.15 | $1.47T | 0.00% | 4.10% | 4.67% | 52.40% | 39.39% |
| 4 | HD The Home Depot, Inc. SPXR3K | 319.83 | 22.40 | $319.09B | 3.08% | 28.75% | 104.30% | 4.06% | 6.35% |
| 5 | BABA Alibaba Group Holding Limited AITECH | 99.64 | 24.13 | $247.88B | 0.99% | 4.16% | 6.36% | 5.62% | 12.49% |
| 6 | TM Toyota Motor Corporation | 196.79 | 8.70 | $233.04B | 3.23% | 5.24% | 12.40% | 10.91% | 16.22% |
| 7 | MCD McDonald's Corporation SPXR3K | 248.46 | 20.20 | $175.82B | 2.99% | 22.47% | - | 0.92% | 7.33% |
| 8 | TJX The TJX Companies, Inc. SPXR3K | 145.06 | 26.86 | $160.25B | 1.52% | 21.26% | 62.17% | 6.84% | 8.48% |
| 9 | BKNG Booking Holdings Inc. NDXSPXR3K | 155.83 | 17.28 | $120.75B | 1.08% | 70.23% | -96.88% | 16.93% | 22.07% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Sep 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 99.75M | 127.17M | 153.96M | 157.44M | 173.11M | 184.45M | 186.85M | - | 211.41M | 216.30M | 219.21M | - | 242.45M | 258.56M | 251.61M | 282.24M | 307.89M | 316.02M | 330.96M | 354.67M |
| Operating Income | -8.62M | 3.85M | 12.31M | 7.15M | 7.76M | 5.05M | 2.62M | - | 15.33M | 11.34M | 7.74M | - | 12.29M | 16.45M | 6.31M | 1.11M | 7.31M | 10.05M | 999.00K | 8.13M |
| Net Income | -11.14M | -2.04M | 3.81M | 783.00K | 4.64M | 2.71M | 46.00K | 6.91M | 9.36M | 7.96M | 5.42M | 25.39M | 7.21M | 8.90M | 2.11M | -829.00K | 2.11M | 2.99M | -2.69M | 2.34M |
| Diluted EPS | -0.25 | -0.05 | 0.08 | 0.02 | 0.08 | 0.05 | 0.00 | - | 0.15 | 0.13 | 0.09 | - | 0.12 | 0.14 | 0.03 | -0.01 | 0.03 | 0.05 | -0.04 | 0.04 |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 436.37M | 342.39M | 601.19M | 730.16M | 891.55M | 1.02B | 1.22B |
| Operating Income | -37.56M | -47.22M | 22.24M | 16.91M | 41.27M | 38.91M | 27.51M |
| Net Income | -45.44M | -49.68M | -2.11M | 6.91M | 25.39M | 18.93M | 19.43M |
| Diluted EPS | -1.01 | -1.10 | -0.04 | 0.11 | 0.41 | 0.30 | 0.31 |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | - | - | 1.01B | - | 1.10B | 1.27B | 1.51B | 1.74B |
| Current Assets | - | - | - | - | 67.29M | 71.19M | 55.88M | 49.08M |
| Cash & Equivalents | - | - | 38.85M | - | 49.67M | 49.63M | 33.31M | 21.25M |
| Inventory | - | - | - | - | 5.03M | 5.38M | 6.12M | 7.17M |
| Receivables | - | - | - | - | 2.05M | 2.95M | 2.43M | 2.98M |
| Total Liabilities | - | - | 686.65M | - | 581.31M | 705.76M | 918.97M | 1.12B |
| Current Liabilities | - | - | 76.53M | - | 99.98M | 115.07M | 138.47M | 167.50M |
| Long Term Debt | - | - | - | - | 94.67M | 119.77M | 189.04M | 269.07M |
| Total Debt | - | - | - | - | 507.35M | 606.97M | 809.55M | 1.01B |
| Total Equity | 374.67M | 329.80M | 320.87M | - | 523.13M | 561.28M | 595.39M | 626.28M |
| Shares Outstanding | - | - | - | - | 59.21M | 59.89M | 60.70M | 61.13M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 21.46M | -18.36M | - | 62.94M | 95.34M | 115.67M | 125.91M |
| Investing Cash Flow | -82.39M | -26.97M | - | -63.11M | -123.37M | -206.65M | -213.76M |
| Financing Cash Flow | 55.76M | 73.31M | - | -2.02M | 28.07M | 74.33M | 75.79M |
| Capital Expenditure | -59.17M | -26.75M | - | -63.33M | -83.49M | -128.01M | -157.76M |
| Free Cash Flow | -37.70M | -45.11M | - | -393.00K | 11.85M | -12.34M | -31.84M |
| Net Change in Cash | - | - | - | -2.19M | 38.00K | -16.65M | -12.07M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | - | - | - | - |
| Operating Margin % | -8.6% | -13.8% | 3.7% | 2.3% | 4.6% | 3.8% | 2.3% |
| Net Margin % | -10.4% | -14.5% | -0.4% | 0.9% | 2.8% | 1.9% | 1.6% |
| ROE % | -13.8% | -15.5% | - | 1.3% | 4.5% | 3.2% | 3.1% |
| ROCE % | - | -5.1% | - | 1.7% | 3.6% | 2.8% | 1.7% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 7.35% | 4.53M | $49.78M |
| 2 | Manufacturers Life Insurance Co. | 6.20% | 3.82M | $41.99M |
| 3 | Bank Of New York Mellon Corporation | 6.03% | 3.72M | $40.84M |
| 4 | Dimensional Fund Advisors LP | 4.21% | 2.60M | $28.51M |
| 5 | Vanguard Capital Management LLC | 3.98% | 2.45M | $26.94M |
| 6 | Millennium Management Llc | 3.55% | 2.19M | $24.08M |
| 7 | Neuberger Berman Group, LLC | 3.35% | 2.07M | $22.72M |
| 8 | GW&K Investment Management, LLC | 3.25% | 2.01M | $22.04M |
| 9 | Stephens Investment Management Group LLC | 3.17% | 1.95M | $21.45M |
| 10 | Hodges Capital Management, Inc. | 2.58% | 1.59M | $17.48M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for FWRG
First Watch Restaurant Group, Inc. Estimates – NASDAQ:FWRG - TradingView
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First Watch Restaurants: New Restaurants Are Having A Honeymoon (NASDAQ:FWRG) - Seeking Alpha
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First Watch Restaurant Group, Inc. (FWRG) Latest Stock News & Headlines - Yahoo! Finance Canada
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A breakfast-and-brunch restaurant group will hold its results call at 8 a.m. ET Nov. 3. - Stock Titan
<a href="https://news.google.com/rss/articles/CBMitwFBVV95cUxPWE92WXBsN1dFLTdyajVjSkxwZE45VGQtZmpDN3lxNWNHUER6dHlkU0JkM0dsWUl6Wjd2dzF2WG16d2p2RlNWSWcxN0ZIYUl5OHowb21CMmgwdUlMQXZCV0k3Z1Z4MzJ0V19kTzl4c2x4MWJGWW5Ibkw2UjNTY3hXZ2NkLVF2NWxwZzV3bk…
First Watch Restaurant Group Inc (FWRG) Stock Up 6.9% and Still Undervalued -- GF Score: 77/100 - GuruFocus
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1 Restaurant Stock Worth Your Attention and 2 We Brush Off - The Globe and Mail
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FWRG — Frequently Asked Questions
What is the current share price of First Watch Restaurant Group, Inc. (FWRG)?
As of 2026-10-23 16:27 PDT, First Watch Restaurant Group, Inc. (FWRG) trades at $10.89 on NasdaqGS. Its 52-week range is $10.10 to $19.17.
What is the market capitalisation of FWRG?
First Watch Restaurant Group, Inc. (FWRG) has a market capitalisation of $672.05M on NasdaqGS.
What is the P/E ratio of FWRG?
FWRG trades at a trailing price-to-earnings (P/E) ratio of 38.89. The industry average P/E is 18.27. Its price-to-book (P/B) ratio is 0.99.
What is the return on equity (ROE) of FWRG?
FWRG has a return on equity (ROE) of 2.88%. Its return on capital employed (ROCE) is 1.75%.
Is FWRG a good stock to buy?
This page provides a data-driven analysis of First Watch Restaurant Group, Inc. (FWRG), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.