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FWRG Stock Chart & Stats
$12.75
-$0.62(-3.15%)
At close: 4:00 PM EST
$12.75
-$0.62(-3.15%)
Day’s Range― - ―
52-Week Range$9.97 - $19.53
Previous CloseN/A
Volume108.15K
Average Volume (3M)1.13M
Market Cap
$806.93M
Enterprise Value$1.71B
Total Cash (Recent Filing)$23.57M
Total Debt (Recent Filing)$1.03B
Price to Earnings (P/E)45.2
Beta1.19
Next Earnings
Aug 11, 2026EPS Estimate
0.06Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)0.29
Shares Outstanding61,644,886
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 Cap2.13
Enterprise Value/Revenue1.35
Enterprise Value/Gross Profit7.40
Enterprise Value/Ebitda15.84
Forecast
1Y Price Target
$18.44Price Target Upside44.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)0.17
Revenue Forecast (FY)$1.38B
Bulls Say, Bears Say
Bulls Say
Sustained Revenue GrowthConsistent high single- to double-digit top-line growth demonstrates durable demand for the daytime dining concept and supports scalable unit economics. Over a 2–6 month horizon, continued revenue expansion helps fund reinvestment, dilutes fixed costs across a larger base, and underpins long-term growth targets.
Restaurant-level Margin ExpansionImproved unit economics driven by favorable mix, pricing and cost control shows the model can generate durable restaurant-level profits. Sustained 200bps gains indicate structural operating leverage that can support system profitability as the company scales and helps absorb moderate commodity or labor inflation.
Experienced Financial Leadership SuccessionA planned CFO transition to an industry-seasoned finance leader preserves continuity and strengthens execution on capital allocation, reporting and growth plans. Over months, improved financial governance and operator-focused FP&A can reduce execution risk as the company pursues aggressive unit expansion.
Bears Say
Elevated LeverageHigh leverage relative to equity and earnings limits financial flexibility and increases vulnerability to demand shocks or higher interest costs. Over the medium term, elevated debt constrains the ability to self-fund new openings or weather cash flow variability without resorting to incremental external financing.
Negative Free Cash FlowNegative FCF signals that current operations plus reinvestment exceed cash generated, forcing reliance on debt/equity to fund growth. Persisting negative cash conversion reduces room for balance sheet de-risking, heightens refinancing needs, and raises execution risk while rolling out dozens of new restaurants.
Thin GAAP ProfitabilityLow single-digit net margins and compressed profitability leave little cushion against commodity, labor or traffic volatility. Over a 2–6 month horizon this raises the chance that modest cost shocks or weaker guest trends materially pressure earnings and cash flow despite healthy restaurant-level margins.
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 $806.93M.
When is First Watch Restaurant Group’s upcoming earnings report date?
First Watch Restaurant Group’s upcoming earnings report date is Aug 11, 2026 which is in 39 days.
How were First Watch Restaurant Group’s earnings last quarter?
First Watch Restaurant Group released its earnings results on May 05, 2026. The company reported -$0.04 earnings per share for the quarter, missing the consensus estimate of -$0.024 by -$0.016.
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 0.06.
How many shares outstanding does First Watch Restaurant Group have?
First Watch Restaurant Group has 61,644,886 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 -$0.024. Following the earnings report the stock price went down -0.246%.
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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10
Analyst Consensus
Strong Buy
Average Price Target:
$18.44 (44.66% Upside)
$18.44 (44.66% Upside)
Blogger Sentiment
Bullish
FWRG Sentiment 100%
Sector Average 66%
Sector Average 66%
Hedge Fund Trend
Decreased
By 3.3M Shares
Last Quarter.
Last Quarter.
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
-14.50%
12-Months-Change
Fundamentals
Return on Equity
2.85%
Trailing 12-Months
Asset Growth
14.89%
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
Q1 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presented several meaningful operational and financial positives: robust revenue growth (+17.3%), adjusted EBITDA expansion (+22.2%) and sizable restaurant-level margin improvement (+200 bps), driven by successful marketing and a well-received new core menu. Key strategic priorities (marketing rollout, menu innovation, disciplined development) are showing early traction. Offsetting items include negative same-restaurant traffic (-2.0%), a reported net loss of $2.7M, modest GAAP operating income (0.3%), and ongoing inflationary/labor pressures (commodity inflation 1%–3%, labor 3%–5%). Overall, management reiterated revenue and same-store guidance, raised the low end of adjusted EBITDA guidance, and emphasized confidence in execution and pipeline. On balance, the positive operational momentum and guidance actions outweigh the challenges, though execution risk and macrocost pressures remain.View all FWRG earnings summariesFWRG Stock 12 Month Forecast
Average Price Target
$18.44
▲(44.66% Upside)
Technical Analysis
Ownership Overview
13.03% Insiders
38.02% Mutual Funds
36.19% Other Institutional Investors
0.64% Public Companies and
Individual Investors