First Watch Restaurant Group, Inc. FWRG

Latest FY: 2025 Consumer Cyclical Restaurants
Market Price $11.16
Market Cap $687.96M
P/E Ratio 36.02
Quick Peer Compare (Consumer Cyclical):
Revenue (FY 2025) ↑20.3% YoY
$1.22B
3-Yr CAGR: 18.7%
Net Income ↑2.7% YoY
$19.43M
Net Margin: 1.6%
Free Cash Flow ↓-152.5% YoY
-$30.99M
FCF Yield: -4.51%
EPS (Diluted) ↑3.3% YoY
$0.31
Basic: $0.32
Return on Equity Efficiency
3.1%
ROA: 1.1%

📊 Multi-Year Historical Performance & Trends

Financial Performance History Revenue, Net Income & Free Cash Flow
Margins Trend (%) Gross, Operating & Net Margins
Balance Sheet Strength Cash, Debt & Equity
Cash Flow Generation Operating Cash Flow vs CapEx vs FCF

📈 Year-over-Year (YoY) Growth History (FWRG)

All monetary values in millions ($M)
Fiscal Year Revenue Revenue YoY Gross Profit Net Income Net Inc YoY Diluted EPS EPS YoY Div / Sh Div Yield Op. Cash Flow Free Cash Flow FCF YoY
FY 2019 $436.4M $392.2M $-45.4M $-1.01 $21.5M $-37.7M
FY 2020 $342.4M -21.5% $291.6M $-49.7M -9.3% $-1.10 -8.9% $-18.4M $-45.1M -19.7%
FY 2021 $601.2M +75.6% $544.4M $-2.1M +95.8% $-0.04 +96.4% 0.00% $63.0M $27.7M +161.3%
FY 2022 $730.2M +21.5% $668.7M $6.9M +427.8% $0.11 +375.0% 0.00% $62.9M $0.7M -97.4%
FY 2023 $891.6M +22.1% $820.9M $25.4M +267.5% $0.41 +272.7% 0.00% $95.3M $10.8M +1,405.7%
FY 2024 $1,015.9M +13.9% $929.3M $18.9M -25.4% $0.30 -26.8% 0.00% $115.7M $-12.3M -213.6%
FY 2025 $1,222.5M +20.3% $1,115.4M $19.4M +2.7% $0.31 +3.3% 0.00% $125.9M $-31.0M -152.5%
$

Valuation

Market Price $11.16
Market Cap $687.96M
Enterprise Value $949.09M
P/E Ratio 36.02
P/B Ratio 1.10
FCF Yield -4.51%
Dividend Yield N/A
Shares Outstanding 61,644,900
%

Profitability & Margins

Gross Margin 91.24%
Operating Margin 2.25%
Net Margin 1.59%
Return on Equity (ROE) 3.10%
Return on Assets (ROA) 1.12%
Asset Turnover 0.70x
Revenue 3-Yr CAGR 18.74%
🛡️

Financial Health & Liquidity

Current Ratio 0.29
Cash Ratio 0.13
Debt / Equity 0.451
Debt / Assets 0.162
Cash & Equivalents $21.25M
Total Debt $282.38M
Book Value / Share $10.16
💧

Cash Flow Efficiency

Operating Cash Flow $125.91M
Capital Expenditures (CapEx) $156.91M
Free Cash Flow -$30.99M
OCF / Revenue 10.30%
FCF / Revenue -2.54%
FCF 3-Yr CAGR N/A
🏷️

Per Share Metrics

EPS (Diluted) $0.31
EPS (Basic) $0.32
Dividends / Share N/A
Book Value / Share $10.16
EPS YoY Growth 3.33%
🏛️

Balance Sheet (FY 2025)

Total Assets $1.74B
Total Liabilities $1.12B
Stockholders' Equity $626.28M
Current Assets $49.08M
Current Liabilities $167.50M