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FWRG

First Watch Restaurant Group, Inc.

Consumer Cyclical · $626M market cap

Verdict

We can't put a fair value on FWRG right now. It has fewer than 5 profitable years and uneven cash flow, not enough history to project from yet.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth22.0% a year✓
Equity per share growth4.8% a year✗
Sales growth19.6% a year✓
Free cash flow growth-37.5% a year✗
Return on invested capital2.1%✗

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About First Watch Restaurant Group, Inc.

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…

Restaurants

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works