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FWRG Stock Chart & Stats
$12.12
$0.77(6.31%)
At close: 4:00 PM EDT
$12.12
$0.77(6.31%)
Day’s Range― - ―
52-Week Range$9.97 - $19.53
Previous CloseN/A
Volume1.09M
Average Volume (3M)1.13M
Market Cap
$804.11M
Enterprise Value$1.85K
Total Cash (Recent Filing)$20.48M
Total Debt (Recent Filing)$1.07B
Price to Earnings (P/E)44.6
Beta1.19
Next Earnings
Nov 09, 2026EPS Estimate
0.04Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)0.30
Shares Outstanding61,712,437
10 Day Avg. Volume1,258,778
30 Day Avg. Volume1,127,344
Financial Highlights & Ratios
PEG Ratio14.95
Price to Book (P/B)1.50
Price to Sales (P/S)0.77
P/FCF Ratio-30.35
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$18.86Price Target Upside55.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.12
Revenue Forecast (FY)$1.39B
Bulls Say, Bears Say
Bulls Say
Scalable Unit GrowthA sizable development pipeline and strong returns from newer restaurant cohorts support continued unit expansion. Attractive store economics can help First Watch grow its footprint while reinforcing the brand’s long-term revenue and earnings potential.
Brand Strength And MarketingImproving awareness and evidence of customer repeat visits indicate that marketing is expanding the addressable customer base. Greater brand recognition can support traffic, new-unit productivity and competitive positioning in daytime dining.
Long-Term Expansion FrameworkThe planned opening cadence and explicit profitability targets provide a structured framework for growth. Management’s stated goal of self-funding development and producing rising free cash flow could improve financial flexibility if execution meets expectations.
Bears Say
Elevated LeverageRising leverage increases fixed financial obligations and reduces flexibility during periods of weaker restaurant demand or higher costs. It may also constrain the company’s ability to fund expansion and absorb operating setbacks without additional financing.
Negative Free Cash FlowPositive operating cash flow has not consistently covered capital spending and reinvestment needs. Persistent negative free cash flow makes expansion more dependent on balance-sheet capacity and delays the conversion of reported growth into internally generated cash.
Thin Margins And Cost PressureLimited net-margin protection leaves earnings sensitive to wage, commodity and menu-mix changes. Even if the beef-related pressure proves temporary, ongoing labor inflation and modest operating margins can restrict sustainable profit growth.
First Watch Restaurant Group News
FWRG FAQ
What was First Watch Restaurant Group’s price range in the past 12 months?
First Watch Restaurant Group lowest stock price was $9.97 and its highest was $19.53 in the past 12 months.
What is First Watch Restaurant Group’s market cap?
First Watch Restaurant Group’s market cap is $804.11M.
When is First Watch Restaurant Group’s upcoming earnings report date?
First Watch Restaurant Group’s upcoming earnings report date is Nov 09, 2026 which is in 76 days.
How were First Watch Restaurant Group’s earnings last quarter?
First Watch Restaurant Group released its earnings results on Aug 04, 2026. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.053 by -$0.013.
Is First Watch Restaurant Group overvalued?
According to Wall Street analysts First Watch Restaurant Group’s price is currently Undervalued.
Does First Watch Restaurant Group pay dividends?
First Watch Restaurant Group does not currently pay dividends.
What is First Watch Restaurant Group’s EPS estimate?
First Watch Restaurant Group’s EPS estimate is 0.04.
How many shares outstanding does First Watch Restaurant Group have?
First Watch Restaurant Group has 61,712,437 shares outstanding.
What happened to First Watch Restaurant Group’s price movement after its last earnings report?
First Watch Restaurant Group reported an EPS of $0.04 in its last earnings report, missing expectations of $0.053. Following the earnings report the stock price went up 2.4%.
Which hedge fund is a major shareholder of First Watch Restaurant Group?
Currently, no hedge funds are holding shares in FWRG
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
First Watch Restaurant Group Stock Smart Score
Neutral
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Analyst Consensus
Strong Buy
Average Price Target:
$18.86 (55.59% Upside)
$18.86 (55.59% Upside)
Blogger Sentiment
Bullish
FWRG Sentiment 75%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 1.1M Shares
Last Quarter.
Last Quarter.
Technicals
SMA
Positive
20 days / 200 days
Momentum
-14.50%
12-Months-Change
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
8.64%
Trailing 12-Months
Company Description
First Watch Restaurant Group
First Watch Restaurant Group, Inc. oversees and licenses restaurant operations under the First Watch brand. As of March 23, 2022, its extensive presence included 341 company-owned eateries and 94 franchised outlets, operating across 28 U.S. states. The enterprise, established in 1983 with its main office in Bradenton, Florida, previously traded as AI Fresh Super Holdco, Inc. before changing its designation to First Watch Restaurant Group, Inc. in December 2019.
FWRG Company Deck
FWRG Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and growth story: robust revenue growth (15.2%), improving same-restaurant sales (3.4%), strong unit economics for recent restaurant classes, meaningful gains in brand awareness, and disciplined long-term capital allocation targeting self-funded growth and positive free cash flow beginning 2027. The primary near-term concern is margin pressure driven by unexpectedly high demand for beef-based LTOs (adding ~100 bps to COGS) and persistent labor/commodity inflation, which led to a revision of adjusted EBITDA guidance. Management frames the margin headwind as temporary and is pursuing mitigation while investing in marketing and innovation that appear to be expanding trial and conversion. Overall, the positives around top-line momentum, unit performance, brand-building and a clear plan for disciplined growth outweigh the temporary margin challenges.View all FWRG earnings summariesFWRG Stock 12 Month Forecast
Average Price Target
$18.86
▲(55.59% Upside)
Technical Analysis
Ownership Overview
13.02% Insiders
37.98% Mutual Funds
33.33% Other Institutional Investors
2.90% Public Companies and
Individual Investors