First Watch Restaurant Group, Inc. (FWRG)
| Market Cap | 791.58M |
| Revenue (ttm) | 1.22B |
| Net Income (ttm) | 19.43M |
| Shares Out | 61.63M |
| EPS (ttm) | 0.31 |
| PE Ratio | 41.61 |
| Forward PE | 67.67 |
| Dividend | n/a |
| Ex-Dividend Date | n/a |
| Volume | 903,226 |
| Open | 13.15 |
| Previous Close | 13.16 |
| Day's Range | 12.78 - 13.45 |
| 52-Week Range | 10.09 - 19.69 |
| Beta | 0.98 |
| Analysts | Strong Buy |
| Price Target | 20.46 (+59.28%) |
| Earnings Date | May 5, 2026 |
About FWRG
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. First Watch Restaurant Group, Inc. was founded in 1983 and is based in Bradenton, Florida. [Read more]
Financial Performance
In 2025, FWRG's revenue was $1.22 billion, an increase of 20.34% compared to the previous year's $1.02 billion. Earnings were $19.43 million, an increase of 2.68%.
Financial StatementsAnalyst Forecast
According to 13 analysts, the average rating for FWRG stock is "Strong Buy." The 12-month stock price target is $20.46, which is an increase of 59.28% from the latest price.
News
First Watch Restaurant Group Transcript: 47th Annual Raymond James Institutional Investor Conference
The company is expanding rapidly with over 600 units, focusing on menu innovation, digital marketing, and operational improvements. 2026 guidance calls for 1%-3% same-restaurant sales growth, flat margins, and conservative pricing, while targeting higher-income consumers and maintaining strong new unit performance.
UPDATE – First Watch Restaurant Group, Inc. Reports 2025 Financial Results and Provides Outlook for 2026
BRADENTON, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and ...
First Watch Restaurant Group Earnings Call Transcript: Q4 2025
Delivered over 20% revenue growth and record new restaurant openings in 2025, with strong margin performance and positive same-restaurant sales despite industry headwinds. 2026 guidance anticipates continued growth, disciplined pricing, and expanded digital marketing initiatives.
First Watch Restaurant Group, Inc. Announces Retirement of Chief Financial Officer Mel Hope and Transition Plan
BRADENTON, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (Nasdaq: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and ...
First Watch Restaurant Group, Inc. Reports 2025 Financial Results and Provides Outlook for 2026
BRADENTON, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and ...
First Watch Restaurant Group Transcript: 28th Annual ICR Conference 2025
Positive same-restaurant sales and traffic, disciplined 10% annual unit growth, and data-driven marketing have driven strong financial results and expansion. Strategic cost management and a focus on operational excellence support continued growth and high ROI on new units.
First Watch Restaurant Group, Inc. Reports Preliminary Operational Metrics for the Fourth Quarter and Fiscal Year 2025
BRADENTON, Fla., Jan. 12, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and ...
First Watch Restaurant Group, Inc. to Participate in the 28th Annual ICR Conference
BRADENTON, Fla., Jan. 05, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (Nasdaq: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and ...
First Watch Restaurant Group Transcript: Raymond James TMT and Consumer Conference
The group has achieved strong unit and sales growth through data-driven operations, disciplined site selection, and a focus on guest experience and value. Marketing initiatives and operational efficiencies have supported outperformance despite inflationary pressures.
First Watch Restaurant Group Transcript: Barclays 11th Annual Eat, Sleep, Play, Shop Conference 2025
Management outlined a robust growth strategy with 10%+ annual unit expansion, a focus on company-owned restaurants, and strong unit economics. Marketing and operational initiatives are driving brand awareness and traffic, while disciplined pricing and a resilient business model support long-term performance.
First Watch Restaurant Group, Inc. to Participate in Two December Investor Conferences
BRADENTON, Fla., Nov. 25, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc., (Nasdaq: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and...
First Watch Restaurant Group Transcript: Stephens Annual Investment Conference
Conservative pricing and a focus on value have driven traffic and improved relative positioning, even as competitors raised prices more aggressively. Expansion continues with strong new unit performance, robust pipeline, and effective marketing, while margins remain resilient despite inflation.
First Watch Restaurant Group, Inc. to Participate at the Stephens Annual Investment Conference on November 18-19, 2025
BRADENTON, Fla., Nov. 13, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc., (Nasdaq: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and...
First Watch Restaurant Group, Inc. Announces Secondary Offering of Common Stock
BRADENTON, Fla., Nov. 05, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (“FWRG” or the “Company”) (NASDAQ: FWRG), the leading Daytime Dining concept serving breakfast, brunch and lunch, ...
First Watch Restaurant Group Earnings Call Transcript: Q3 2025
Q3 revenue rose 25.6% year-over-year, driven by strong new restaurant openings, positive same-restaurant sales, and franchise acquisitions. Restaurant-level margins and adjusted EBITDA improved, with updated 2025 guidance reflecting continued growth and robust expansion plans.
First Watch Named #1 Most Loved Workplace® in America for Second Consecutive Year
Daytime Dining leader recognized for the fourth year powered by employee voices Daytime Dining leader recognized for the fourth year powered by employee voices
Viva Las Breakfast! First Watch Makes Nevada Debut with New Craig Road Location
The popular breakfast, brunch and lunch spot celebrates with the local community during a special grand opening event The popular breakfast, brunch and lunch spot celebrates with the local community d...
First Watch Restaurant Group Transcript: Piper Sandler 4th Annual Growth Frontiers Conference
Positive Q2 momentum was driven by operational improvements, menu innovation, and a data-driven marketing approach. New units outperform legacy stores, with disciplined site selection and expansion into second-generation spaces. Enhanced digital platforms and a focus on internal talent development support continued growth.
First Watch Restaurant Group, Inc. to Participate at Piper Sandler's Growth Frontiers Conference on September 9-11, 2025
BRADENTON, Fla., Aug. 27, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc., (Nasdaq: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and...
First Watch Restaurant Group Earnings Call Transcript: Q2 2025
Second quarter revenue grew 19.1% year-over-year, driven by new openings, acquisitions, and positive traffic. Adjusted EBITDA guidance was raised on moderating commodity costs, with robust unit growth and improved employee retention supporting long-term expansion.
First Watch Restaurant Group, Inc. Reports Q2 2025 Financial Results and Reaches 600th System-Wide Restaurant Milestone
Total revenues increased 19.1% Net income of $2.1 million and Adjusted EBITDA of $30.4 million 17 new system-wide restaurants opened in 8 states Raising 2025 Adjusted EBITDA guidance
First Watch Restaurant Group Transcript: TD Cowen 9th Annual Future of the Consumer Conference
Traffic and sales are rebounding, supported by targeted marketing and new store openings with strong returns. Margin pressures from commodity inflation are expected to ease, while operational improvements and loyalty initiatives drive customer engagement.
First Watch Restaurant Group, Inc. to Participate in Two June Investor Conferences
BRADENTON, Fla., May 27, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and l...
Why this analyst says restaurants are 'relatively well' set up for an economic slowdown
Texas Roadhouse stock is up after reporting mixed earnings results. Citi director and restaurant analyst Jon Tower explains how consumer behavior and macroeconomic headwinds are shaping the restaurant...
First Watch Restaurant Group Earnings Call Transcript: Q1 2025
Q1 2025 saw 16.4% revenue growth, positive same restaurant sales, and strong new unit performance, but margins were pressured by commodity inflation and higher costs. Guidance was lowered for adjusted EBITDA, though expansion and marketing initiatives continue to drive optimism.