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First Watch Restaurant
FWRG.US
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.
823.58 B
FWRG.USMarket value -Rank by Market Cap -/-

Financial Score

22/12/2025 Update
C
RestaurantsIndustry
Industry Ranking29/61
Industry medianC
Industry averageC
Score Analysis
Peer Comparison
  • Criteria
    Rating
  • Profit ScoreD
    • ROE0.83%D
    • Profit Margin0.42%C
    • Gross Margin21.48%D
  • Growth ScoreB
    • Revenue YoY17.27%B
    • Net Profit YoY-76.20%E
    • Total Assets YoY15.84%A
    • Net Assets YoY3.09%C
  • Cash ScoreA
    • Cash Flow Margin23544.19%A
    • OCF YoY17.27%B
  • Operating ScoreB
    • Turnover0.73B
  • Debt ScoreD
    • Gearing Ratio64.70%D

Valuation analysis

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Institutional View & Shareholder

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    News
    View More

    How Reliance on Lower Egg Costs Will Impact First Watch Restaurant Group (FWRG) Investors

    First Watch Restaurant Group's recent earnings were boosted by lower egg prices, raising concerns about its growth model's sustainability. Despite a "beat-and-raise" quarter, issues like weakening unit economics and franchisee exits pose risks. The company projects $1.7 billion revenue and $33.8 million earnings by 2028, with a fair value estimate of $22.00 per share, a 36% upside. Investors should consider the impact of temporary commodity relief on long-term growth, as well as alternative fair value estimates ranging from $7.57 to $22 per share.

    Simplywall·
    US
    FWRG
    -1.85%
    Simplywall·
    US
    FWRG
    -1.85%

    Director William A. Kussell Reports Sale of First Watch Restaurant Group Inc. Common Shares

    William A. Kussell, Director of First Watch Restaurant Group Inc., reported the sale of common shares. The information was published via EDGAR by the U.S. Securities and Exchange Commission on December 11, 2025. This brief was created by Public Technologies using AI and is for informational purposes only.

    Reuters·
    US
    FWRG
    -1.85%
    Reuters·
    US
    FWRG
    -1.85%

    Dir Kussell Files To Sell 6,165 Of First Watch Restaurant Group Inc [FWRG]

    William A. Kussell, Director of First Watch Restaurant Group Inc, filed a Form 144 with the SEC to sell 6,165 shares on December 9, 2025, through UBS Financial Services Inc. This sale is executed under a prearranged trading plan (10b5-1). Form 144 must be filed before selling restricted stock, allowing sales within 90 days of filing.

    Reuters·
    US
    FWRG
    -1.85%
    Reuters·
    US
    FWRG
    -1.85%

    Franklin Resources Inc. Cuts Stock Position in First Watch Restaurant Group, Inc. $FWRG

    Franklin Resources Inc. reduced its stake in First Watch Restaurant Group by 14.3% in Q2, selling 146,649 shares. The firm now owns 879,620 shares, valued at $14,109,000. Other investors like Vanguard and JPMorgan have adjusted their positions in FWRG. Analysts have mixed ratings, with a moderate buy consensus and a target price of $21.09. FWRG's stock opened at $18.48, with a market cap of $1.13 billion.

    Market Beat·
    US
    FWRG
    -1.85%
    US
    BEN
    +2.46%
    Market Beat·
    US
    FWRG
    -1.85%
    US
    BEN
    +2.46%

    First Watch (FWRG): Valuation Perspectives Following Strong Earnings Beat and Upgraded Growth Outlook

    First Watch Restaurant Group (FWRG) exceeded earnings expectations, leading to a 13.6% rise in stock price over 30 days. Despite a one-year total shareholder return of -18.4%, optimism is growing due to strong Q3 results and an upgraded growth outlook. Analysts suggest the stock is undervalued at $17.19, with a fair value estimate of $22, driven by expansion and innovation. However, a discounted cash flow model indicates the current price may be above fair value, raising questions about future growth potential amid cost inflation challenges.

    Simplywall·
    US
    FWRG
    -1.85%
    Simplywall·
    US
    FWRG
    -1.85%
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