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FWRG

First Watch Restaurant Group Inc
$
16.650
-0.64(-3.702%)1D
  • Overview
  • Forecast
  • Valuation
  • Earnings
Line
Line
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Candle
Candle
1D
5D
1M
3M
6M
YTD
1Y
5Y
High
17.170
Open
17.170
VWAP
16.51
Vol
693.31K
Mkt Cap
1.05B
Low
16.070
Amount
11.44M
EV/EBITDA(TTM)
12.81
Total Shares
60.37M
EV
1.24B
EV/OCF(TTM)
11.17
P/S(TTM)
1.01
First Watch Restaurant Group, Inc. is a daytime dining concept company. The Company is engaged in serving made-to-order breakfast, brunch and lunch using fresh ingredients. Its menu includes elevated executions of classic favorites alongside specialties, such as its Quinoa Power Bowl, Lemon Ricotta Pancakes, Chickichanga, Morning Meditation fresh juice and signature Million Dollar Bacon. It operates and franchises restaurants in 29 states operating under the First Watch trade name, which are focused on made-to-order breakfast, brunch and lunch. It uses a variety of marketing channels, including affiliate partnerships, social media interactions, digital marketing, direct mailers, public relations initiatives and local community sponsorships, e-mail communications, promotions and partnerships. The Company operates restaurants through its wholly owned subsidiary, First Watch Restaurants, Inc., and is a franchisor through its wholly owned subsidiary, First Watch Franchise Development Co.
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Market Estimates

Earnings Estimates
Revenue
YoY Chg
EPS
YoYChg
FY2025Q4
FY2025Q3
FY2025Q2
316.31M
+20.14%
0.057
+17.28%
302.85M
+20.37%
0.043
-12.03%
304.94M
+17.94%
0.078
-56.42%
Estimates Revision
The market is revising Downward the revenue expectations for First Watch Restaurant Group, Inc. (FWRG) for FY2025, with the revenue forecasts being adjusted by -0.49% over the past three months. During the same period, the stock price has changed by -8.97%.
Revenue Estimates for FY2025
Revise Downward
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-0.49%
In Past 3 Month
EPS Estimates for FY2025
Revise Downward
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-47.99%
In Past 3 Month
Stock Price
Go Down
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-8.97%
In Past 3 Month
9 Analyst Rating
up Image
24.14% Upside
Wall Street analysts forecast FWRG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FWRG is 20.67 USD with a low forecast of 17.00 USD and a high forecast of 23.00  USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
1 Hold
0 Sell
Strong Buy
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24.14% Upside
Current: 16.650
sliders
Low
17.00
Averages
20.67
High
23.00
TD Cowen
Buy
maintain
$19 -> $21
2025-07-29
New
Reason
TD Cowen raised the firm's price target on First Watch Restaurant to $21 from $19 and keeps a Buy rating on the shares. The firm updated its model ahead of Q2 results where they see slight downside to 2Q adj. EBITDA and risk that 2025E adj EBITDA guidance is lowered, though not by a large enough magnitude to materially alter consensus.
BofA
Buy
downgrade
$23 -> $21
2025-07-18
Reason
BofA lowered the firm's price target on First Watch Restaurant to $21 from $23 and keeps a Buy rating on the shares. The firm is fine-tuning estimates for 20-plus companies across its restaurant coverage and also adjusting selected price targets to reflect estimate and market multiple changes ahead of earnings from the group.
Barclays
Overweight
maintain
$20 -> $21
2025-07-17
Reason
Barclays raised the firm's price target on First Watch Restaurant to $21 from $20 and keeps an Overweight rating on the shares. The firm adjusted price targets in the restaurant group as part of a Q2 update. Comp sales reaccelerated through the quarter, led by value offers, with casual dining leading and quick service lagging, the analyst tells investors in a research note.
Raymond James
initiated
2025-06-26
Reason
Raymond James added First Watch Restaurant to the firm's Analyst Current Favorites list. The list contains the current favorite stock ideas from the firm's equity analysts. An analyst may only have one "buy" idea on the list at any given time.
Guggenheim
Buy
maintain
$23 -> $22
2025-05-08
Reason
Guggenheim lowered the firm's price target on First Watch Restaurant to $22 from $23 and keeps a Buy rating on the shares. First Watch reported "a relatively OK comp quarter" with traffic improving, but margin flow-through was pressured and management cut full year profit guidance by 8%, says the analyst, who takes the firm's EBITDA estimate to $115M, which is within the lower half of the guidance range.
Barclays
Dan Levy
Buy
Maintains
$21 → $24
2025-04-22
Reason
Barclays raised the firm's price target on First Watch Restaurant to $24 from $21 and keeps an Overweight rating on the shares as part of a Q1 preview for the restaurant group. Comps were challenged by weather to start Q1, before a partial March rebound, the analyst tells investors in a research note. However, the firm says the lack of a full recovery is proof of an underlying easing in consumer spending. While most restaurants are insulated from tariffs from a supply chain impact, "not so much for the demand decline to follow," the analyst tells investors in a research note.

Valuation Metrics

The current forward P/E ratio for First Watch Restaurant Group Inc (FWRG.O) is 76.57, compared to its 5-year average forward P/E of 67.97. For a more detailed relative valuation and DCF analysis to assess First Watch Restaurant Group Inc 's fair value, click here.

Forward PE

StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
Fair
5Y Average PE
67.97
Current PE
76.57
Overvalued PE
119.68
Undervalued PE
16.26

Forward EV/EBITDA

StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
Fair
5Y Average EV/EBITDA
17.05
Current EV/EBITDA
15.12
Overvalued EV/EBITDA
20.51
Undervalued EV/EBITDA
13.58

Forward PS

StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
Undervalued
5Y Average PS
1.12
Current PS
0.81
Overvalued PS
1.35
Undervalued PS
0.88

Financials

Annual
Quarterly
FY2025Q1
YoY :
+16.41%
282.24M
Total Revenue
FY2025Q1
YoY :
-76.97%
3.25M
Operating Profit
FY2025Q1
YoY :
-111.49%
-829.00K
Net Income after Tax
FY2025Q1
YoY :
-108.33%
-0.01
EPS - Diluted
FY2025Q1
YoY :
+357.27%
-16.47M
Free Cash Flow
FY2025Q1
YoY :
-5.84%
54.84
Gross Profit Margin - %
FY2025Q1
YoY :
-4880.00%
-2.39
FCF Margin - %
FY2025Q1
YoY :
-109.73%
-0.29
Net Margin - %
FY2025Q1
YoY :
-100.00%
N/A
ROIC

Trading Trends

Insider
Insiders areSelling! The selling amount has increased 7251.99% over the last month.
Sold
0-3
Months
66.2M
USD
1
3-6
Months
899.8K
USD
4
6-9
Months
0.0
USD
0
0-12
Months
474.2M
USD
3
Bought
0-3
0
0.0
USD
Months
3-6
0
0.0
USD
Months
6-9
0
0.0
USD
Months
0-12
0
0.0
USD
Months
Hedge Fund
Hedge Funds are Neutral. There are no significant trading trends over the last quarter.
Sold
0-3
Months
0.0
Volume
0
3-6
Months
68.8K
Volume
1
6-9
Months
8.0M
Volume
1
0-12
Months
0.0
Volume
0
Bought
0-3
0
0.0
Volume
Months
3-6
0
0.0
Volume
Months
6-9
2
675.8K
Volume
Months
0-12
0
0.0
Volume
Months
Congress Trading
Congress areBuying! The buying amount has increased100%over the last month.
Sold
0-3
Months
0.0
USD
0
3-6
Months
0.0
USD
0
6-9
Months
0.0
USD
0
0-12
Months
0.0
USD
0
Bought
0-3
0
0.0
USD
Months
3-6
2
16.0K
USD
Months
6-9
0
0.0
USD
Months
0-12
0
0.0
USD
Months

FWRG News & Events

Events Timeline

2025-06-04 (ET)
2025-06-04
09:06:54
First Watch Restaurant 4.5M share Block Trade priced at $14.80
select
2025-05-06 (ET)
2025-05-06
07:07:07
First Watch Restaurant sees FY25 revenue growth ~20%
select
2025-05-06
07:06:23
First Watch Restaurant reports Q1 EPS (1c), consensus 3c
select
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News

4.0
07-29Benzinga
TD Cowen Maintains Buy on First Watch Restaurant Gr, Raises Price Target to $21
6.0
07-17Benzinga
Barclays Maintains Overweight on First Watch Restaurant Gr, Raises Price Target to $21
4.0
06-04Benzinga
TD Securities Reiterates Buy on First Watch Restaurant Gr, Maintains $19 Price Target
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FAQ

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What is First Watch Restaurant Group Inc (FWRG) stock price today?

The current price of FWRG is 16.65 USD — it has decreased -3.7 % in the last trading day.

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