First Watch Restaurant Group, Inc. (FWRG) stock
Close on Nov 13, 2026Market cap $813.37MP/E 45.4Yield –
First Watch Restaurant Group, Inc. grew revenue 19.3% to $1.32B over the twelve months to Jun 28, 2026. Operating income rose 51.7% to $28.21M, moving the operating margin from 1.7% to 2.1%. Free cash flow was -$20.88M. At the latest close the market valued the company at $813.37M, 45.4 times its earnings.
Key statistics
Valuation at the latest close; fundamentals over the trailing twelve months, balances at Jun 28, 2026
Valuation
- Market cap
- $813.37M
- P/E ratio
- 45.4
- Price to sales
- 0.62
- Price to book
- 1.28
- Dividend yield
- –
- Free cash flow yield
- -2.57%
Fundamentals
- Revenue
- $1.32B
- Net income
- $17.81M
- EPS, diluted
- $0.29
- Free cash flow
- -$20.88M
- Book value per share
- $10.18
- Diluted shares
- 62M
Trading
- Next earnings
- Feb 23, 2027 (estimated, before the open)
- Previous close
- $12.94
- Open
- $12.93
- Day's range
- $12.64 – $13.22
- Volume
- 1,124,634
- Average volume (20 days)
- 1,976,295
- Index membership
- Russell 2000 (since Dec 2021), Russell 3000 (since Nov 2021)
- Beta (5 years)
- 1.11
- 52-week range
- $9.88 – $18.77
- RSI (14 days)
- 57.7
- Volatility (1 year)
- 54.2%
- Relative volume
- 0.80×
- WACC
- 9.5%
Index membership is inferred from the holdings of funds that track each index (IWM, IWV), as reported to the SEC for Jun 30, 2026. Join dates come from quarterly fund reports since 2019, so they are accurate to the quarter.
Market cap history
Month-end market cap since 2021, using shares outstanding reported at the time
Total return vs. the S&P 500
Price change plus reinvested dividends, to the close on Nov 13, 2026. The S&P 500 is measured by the SPY fund.
| Period | FWRG | S&P 500 | Difference | FWRG per year | S&P 500 per year |
|---|---|---|---|---|---|
| 1 month | +9.5% | -3.0% | +12.5 pts | ||
| 3 months | +1.6% | -2.8% | +4.4 pts | ||
| Year to date | -12.6% | +11.5% | −24.1 pts | ||
| 1 year | -21.5% | +13.5% | −35.0 pts | ||
| 3 years | -23.3% | +77.7% | −101.0 pts | -8.5% | +21.1% |
| 5 years | -34.3% | +72.6% | −106.9 pts | -8.1% | +11.5% |
Eight years at a glance
Fiscal years 2018 to 2025 and trailing twelve months, USD
Revenue
Operating income
Net income
EPS, diluted
Free cash flow
Press releases
Releases First Watch Restaurant filed with the SEC as exhibits to Form 8-K or 6-K
- Update
- Update
- Update
- Results
- Results
- Update
About First Watch Restaurant
Retail-Eating Places
First Watch Restaurant Group, Inc. operates and franchises daytime dining restaurants that specialize in breakfast, brunch, and lunch meals prepared to order with fresh ingredients. The company's food service offerings feature an evolving, seasonally rotating menu alongside signature morning and midday entrees, proprietary fresh juices, coffee, brunch cocktails, and shareable plates. Operating under a single daytime shift, First Watch caters to retail dining patrons seeking on-premise daytime hospitality as well as off-premises consumers ordering takeout and third-party delivery across diverse demographic groups, including Millennial and Gen Z diners.
Company profile, executives and historyFirst Watch Restaurant stock: common questions
What is First Watch Restaurant's stock price?
FWRG closed at $13.18 on Nov 13, 2026, up 1.85% on the day. Over the past 52 weeks it traded between $9.88 and $18.77.
What is First Watch Restaurant's market cap?
First Watch Restaurant was worth $813.37M at the close on Nov 13, 2026: the share price times the diluted shares outstanding.
What is FWRG's P/E ratio?
FWRG trades at 45.4 times earnings, based on diluted earnings per share of $0.29 over the twelve months to Jun 28, 2026.
How much revenue does First Watch Restaurant make?
First Watch Restaurant reported revenue of $1.32B for the twelve months to Jun 28, 2026, up 19.3% from a year earlier.
Does First Watch Restaurant pay a dividend?
No. First Watch Restaurant has not paid a cash dividend over the last twelve months.
When does First Watch Restaurant report earnings next?
First Watch Restaurant is expected to report Q4 FY2026 results on Feb 23, 2027, before the open. The date is estimated from its past reporting pattern until the company confirms it.
How has FWRG stock performed over the past year?
Including dividends, FWRG returned -21.5% over the past year, against +13.5% for the S&P 500.
Who are First Watch Restaurant's competitors?
Companies most similar to First Watch Restaurant by business, industry and size include CAVA, SG, RRGB, DIN, NDLS.
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