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FWRG Overview

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$
0.000
0.000(0.000%)
At close
0.000(0.000%)Aft-market
ET
$
0.000
0.000(0.000%)
At close
0.000(0.000%)Aft-market
ET
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Intellectia

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High
12.455
Open
12.155
VWAP
12.15
Vol
990.88K
Mkt Cap
745.90M
Low
11.900
Amount
12.04M
EV/EBITDA(TTM)
8.88
Total Shares
61.64M
EV
1.00B
EV/OCF(TTM)
7.16
P/S(TTM)
0.59
First Watch Restaurant Group, Inc. is a holding company. The Company operates and franchises restaurants in approximately 32 states operating under the First Watch trade name, which are focused on made-to-order breakfast, brunch and lunch. It is engaged in serving made-to-order breakfast, brunch and lunch using the freshest ingredients. Its menu includes elevated executions of classic favorites for breakfast, brunch and lunch, such as our protein-packed Breakfast Quinoa Bowl, Chickichanga and Avocado Toast. It also offers fresh juices, including Morning Meditation and Kale Tonic. 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. Its subsidiaries include AI Fresh Parent, Inc., First Watch E&I Restaurant Group, LLC, First Watch Franchise Development Co., First Watch Restaurants Texas, LLC, and others.
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Events Timeline

(ET)
2026-05-05
07:30:00
Raises FY26 Revenue View to $133M-$140M
select
2026-05-05
07:20:00
First Watch Reports Q1 Revenue of $330.96M
select

News

Fool
9.5
05-05Fool
First Watch Restaurant Group Reports Strong Q1 Earnings, Shares Rise
  • Earnings Growth: First Watch Restaurant Group reported a Q1 earnings per share of negative $0.04, slightly below analysts' expectations, yet its 17% sales growth surpassed market forecasts, indicating robust market performance.
  • Store Expansion: The company opened 16 new restaurants across 11 states, bringing its total to 648, with guidance for 59 to 63 new openings by 2026, further solidifying its market position.
  • Sales Guidance: First Watch reiterated its same-store sales growth forecast of 1% to 3% and overall sales growth of 12% to 14%, providing a positive outlook for investors and contributing to the stock price increase.
  • Cash Flow and Investment: The company generates approximately $130 million in cash from operations annually, and despite projected capital expenditures of $150 million to $160 million in 2026, strong cash flow will support its expansion plans and reduce shareholder dilution risks.
seekingalpha
9.5
05-05seekingalpha
First Watch Restaurant Group Q1 2026 Earnings Call Insights
  • Sales Growth Performance: First Watch Restaurant Group reported a same-store sales growth of 2.8% in Q1, achieving an 18.5% restaurant-level operating profit margin while expanding to 648 locations with the opening of 16 new restaurants, indicating positive progress in market expansion and profitability.
  • Revenue and Profit Outlook: Total revenue for the first quarter reached $331 million, reflecting a 17.3% year-over-year increase, with management reiterating fiscal 2026 same-store sales and total revenue growth guidance, while raising adjusted EBITDA expectations to $133 million to $140 million, showcasing confidence in future performance.
  • Digital Marketing Rollout: The digital marketing campaign's coverage increased from approximately one-third in 2025 to 75%, with several million dollars in marketing spend pulled forward into Q2, aimed at enhancing customer engagement and market competitiveness to drive sales growth further.
  • Cost and Risk Management: Despite a 2% decline in same-store traffic, management noted that weather negatively impacted around 100 basis points, while commodity inflation is expected to remain between 1% and 3%, reflecting a cautious approach to external challenges.
seekingalpha
9.5
05-05seekingalpha
First Watch Restaurant Q1 Earnings Beat Expectations
  • Significant Revenue Growth: First Watch Restaurant reported Q1 revenue of $331 million, reflecting a 17.3% year-over-year increase, surpassing market expectations by $1.65 million, indicating strong performance in the dining sector.
  • System-wide Sales Increase: System-wide sales rose 13.8% to $367.6 million, showcasing the company's successful strategies in expansion and customer attraction, despite same-store sales growth being only 2.8%.
  • Updated Outlook: The company revised its adjusted EBITDA forecast for fiscal year 2026 to between $133 million and $140 million, demonstrating management's confidence in future profitability while maintaining guidance for same-store sales growth of 1% to 3%.
  • Capital Expenditure Plans: First Watch plans to invest $150 million to $160 million primarily in new restaurant projects and remodels, with a target of adding 59 to 63 new system-wide restaurants, including the closure of 3 company-owned locations, reflecting a commitment to business expansion and optimization.
seekingalpha
9.5
05-05seekingalpha
First Watch Restaurant Group Reports 17.3% Revenue Growth in Q1
  • Significant Revenue Growth: First Watch Restaurant Group reported total revenue of $331 million in Q1, reflecting a 17.3% year-over-year increase, demonstrating strong market performance despite a decline in traffic.
  • Stable Same-Store Sales: Same-store sales grew by 2.8% even with overall traffic declines, indicating effective strategies in maintaining customer loyalty and boosting sales, thereby enhancing competitive positioning.
  • Improved Profitability: The restaurant-level operating profit margin increased from 16.5% to 18.5% compared to the same period last year, showcasing the company's success in cost control and operational efficiency, further solidifying its financial health.
  • Ongoing Expansion Plans: The company opened 16 new restaurants across 11 states, with one planned closure, bringing the total to 648 locations, reflecting its continued efforts to expand market share and strengthen brand presence.
Benzinga
6.0
02-25Benzinga
Wall Street Analysts Adjust Ratings
  • Analyst Rating Updates: Top Wall Street analysts have adjusted their ratings on several companies, reflecting the latest market perspectives on these stocks, which could influence investor decisions and market trends.
  • Overview of Rating Changes: While specific upgrades and downgrades are not detailed, the overall rating changes may lead to short-term volatility in related stocks, prompting investors to stay alert.
  • Expected Market Reaction: Analyst rating adjustments typically attract market attention, potentially affecting investor confidence and trading volumes, thereby impacting stock prices.
  • Impact on Investor Decisions: Investors considering buying CAVA stock should pay attention to analysts' views to make more informed investment decisions, even though specific recommendations are not provided in this article.
Fool
9.5
02-24Fool
First Watch Restaurant Group Q4 Earnings Analysis
  • Earnings Growth vs. Market Reaction: First Watch Restaurant Group reported a 20% sales growth in Q4, aligning with Wall Street expectations, while its earnings per share of $0.24 tripled analyst forecasts; however, the stock fell 13%, indicating market concerns over the company's conservative guidance.
  • Store and Same-Store Sales Performance: The company increased its store count by 11% and achieved a same-store sales growth of 3.6%, managing to deliver a 0.5% growth in same-store traffic amidst weak consumer spending, showcasing its long-term competitive strength.
  • Cautious Future Guidance: Management projected revenue growth of only 12% to 14% for 2026, with same-store sales growth expected to be just 1% to 3%, both lower than 2025's performance; CEO Chris Tomasso emphasized the need for caution across the industry regarding future prospects.
  • Unique Operating Model and Employee Satisfaction: First Watch operates exclusively from 7 a.m. to 2:30 p.m., utilizing a single shift, which enhances employee satisfaction, as evidenced by its ranking on Glassdoor's 2026 Best Places to Work in Consumer Services, highlighting its operational advantages.
Wall Street analysts forecast FWRG stock price to rise
8 Analyst Rating
Wall Street analysts forecast FWRG stock price to rise
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 0.000
sliders
Low
17.00
Averages
21.75
High
24.00
Current: 0.000
sliders
Low
17.00
Averages
21.75
High
24.00
Stifel
Chris O'Cull
Hold
downgrade
$15 -> $14
AI Analysis
2026-05-05
Reason
Stifel
Chris O'Cull
Price Target
$15 -> $14
AI Analysis
2026-05-05
downgrade
Hold
Reason
Stifel analyst Chris O'Cull lowered the firm's price target on First Watch Restaurant to $14 from $15 and keeps a Hold rating on the shares. The firm notes the company delivered a solid operational quarter, yet shares continue to struggle as investors focus on the 2% decline in traffic. While stores achieved a strong 18.5% restaurant-level margin, the outlook for the second half of 2026 hinges on reversing negative traffic trends. Without meaningful traffic improvement, the company will likely need to raise menu prices to post positive second half of the year comparable sales, a difficult maneuver given currently weak consumer sentiment and the risk that further hikes could exacerbate traffic declines, Stifel adds.
TD Cowen
Buy
downgrade
$18 -> $17
2026-05-05
Reason
TD Cowen
Price Target
$18 -> $17
2026-05-05
downgrade
Buy
Reason
TD Cowen lowered the firm's price target on First Watch Restaurant to $17 from $18 and keeps a Buy rating on the shares. The company's Q1 same-store sales of 2.8% beat the 1.7% consensus estimate, the analyst tells investors in a research note. The firm says that with First Watch facing harder comparisons in 2026, additional contributions from the new menu, marketing efforts and price are needed to achieve 2026 same-store sales guidance.
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Valuation Metrics

The current forward P/E ratio for First Watch Restaurant Group Inc (FWRG.O) is 63.69, compared to its 5-year average forward P/E of 71.05. For a more detailed relative valuation and DCF analysis to assess First Watch Restaurant Group Inc's fair value, Click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average PE
71.05
Current PE
63.69
Overvalued PE
123.08
Undervalued PE
19.02

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average EV/EBITDA
16.46
Current EV/EBITDA
15.92
Overvalued EV/EBITDA
19.91
Undervalued EV/EBITDA
13.02

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average PS
1.04
Current PS
0.47
Overvalued PS
1.32
Undervalued PS
0.76

Financials

AI Analysis
Annual
Quarterly

Whales Holding FWRG

G
Granahan Investment Management, LLC
Holding
FWRG
+4.02%
3M Return
P
Paralel Advisors LLC
Holding
FWRG
-3.28%
3M Return

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Frequently Asked Questions

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

The current price of FWRG is 12.1 USD — it has increased 1.26

What is First Watch Restaurant Group Inc (FWRG)'s business?

First Watch Restaurant Group, Inc. is a holding company. The Company operates and franchises restaurants in approximately 32 states operating under the First Watch trade name, which are focused on made-to-order breakfast, brunch and lunch. It is engaged in serving made-to-order breakfast, brunch and lunch using the freshest ingredients. Its menu includes elevated executions of classic favorites for breakfast, brunch and lunch, such as our protein-packed Breakfast Quinoa Bowl, Chickichanga and Avocado Toast. It also offers fresh juices, including Morning Meditation and Kale Tonic. 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. Its subsidiaries include AI Fresh Parent, Inc., First Watch E&I Restaurant Group, LLC, First Watch Franchise Development Co., First Watch Restaurants Texas, LLC, and others.

What is the price predicton of FWRG Stock?

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 is21.75 USD with a low forecast of 17.00 USD and a high forecast of 24.00 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.

What is First Watch Restaurant Group Inc (FWRG)'s revenue for the last quarter?

First Watch Restaurant Group Inc revenue for the last quarter amounts to 330.96M USD, increased 17.26

What is First Watch Restaurant Group Inc (FWRG)'s earnings per share (EPS) for the last quarter?

First Watch Restaurant Group Inc. EPS for the last quarter amounts to -0.04 USD, increased 300.00

How many employees does First Watch Restaurant Group Inc (FWRG). have?

First Watch Restaurant Group Inc (FWRG) has 17500 emplpoyees as of May 11 2026.

What is First Watch Restaurant Group Inc (FWRG) market cap?

Today FWRG has the market capitalization of 745.90M USD.