FWRG

First Watch Restaurant Group, Inc. NASDAQ

Consumer Cyclical ·Restaurants ·US · firstwatch.com

$12.18

Mkt Cap $750.6M

52w Low $10.09 22.1% of range 52w High $19.53

50d MA $12.16 200d MA $15.74

P/E (TTM) 40.9x

EV/EBITDA 15.3x

P/B 1.3x

Debt/Equity 1.2x

ROE 3.1%

P/FCF -30.4x

RSI (14) —

ATR (14) —

Beta 0.98

50d MA $12.16

200d MA $15.74

Avg Volume 1.8M

About

First Watch Restaurant Group, Inc. operates and franchises restaurants under the First Watch trade name. As of March 23, 2022, it operated 341 company-owned restaurants and 94 franchised restaurants in 28 states 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 Grou…

Recent Earnings

Date	Time	Est	Rptd	Surp	Base	Gap%	D1%	D2%	D3%	D4%	D5%	Guide ▲★
Feb 24, 2026	BMO	0.08	0.24	+200.0%	12.32	+0.8%	+1.7%	+1.7%	+6.7%	+1.1%	+1.1%	—
Nov 4, 2025	BMO	0.08	0.05	-37.5%	17.60	-0.2%	+1.9%	+1.9%	-2.0%	-2.3%	+0.5%	—
Aug 5, 2025	BMO	0.07	0.03	-57.1%	17.85	+0.7%	+5.5%	+5.5%	-0.3%	-1.1%	-0.6%	—
May 6, 2025	BMO	0.04	-0.01	-125.0%	15.33	-1.1%	+4.3%	+4.3%	+4.3%	+2.9%	+9.3%	—
Mar 11, 2025	BMO	0.02	0.01	-50.0%	16.83	-0.1%	+1.2%	+1.2%	-2.4%	-2.0%	-3.6%	—
Nov 7, 2024	BMO	0.05	0.03	-40.0%	20.83	+0.0%	+1.2%	+1.2%	+2.8%	-6.1%	-6.8%	—
Aug 6, 2024	BMO	0.12	0.14	+16.7%	15.86	+1.1%	-0.3%	-0.3%	+5.2%	+2.3%	+2.3%	—
May 7, 2024	BMO	0.10	0.12	+20.0%	21.51	-1.5%	+1.6%	+1.6%	-0.8%	-2.6%	-8.5%	—
Mar 5, 2024	BMO	0.04	0.04	+11.1%	24.58	-1.7%	-0.4%	-0.4%	+0.9%	+1.7%	+0.2%	—
Nov 1, 2023	BMO	0.04	0.09	+127.2%	17.13	+0.5%	-2.7%	-2.7%	+0.4%	-1.3%	-1.9%	—
Aug 1, 2023	BMO	0.08	0.13	+62.5%	19.98	+1.4%	-4.1%	-4.1%	-3.2%	-3.6%	-3.6%	—
May 2, 2023	BMO	0.09	0.15	+66.7%	17.36	+1.4%	-1.7%	-1.7%	-2.9%	-2.6%	-3.2%	—

Recent Analyst Ratings

Date	Firm	Action	Grade	Target	Base	Open	Gap%	D1%	D2%	D3%	D4%	D5%
Apr 28	DA Davidson	Maintains	Buy → Buy	—	$13.16	$13.15	-0.1%	-2.3%	-1.9%	-0.3%	-0.5%	—
Apr 20	Benchmark	Maintains	Buy → Buy	—	$12.75	$12.42	-2.6%	+0.9%	-0.7%	+6.1%	+3.7%	+4.2%
Feb 25	Stephens & Co.	Maintains	Overweight → Overweight	—	$12.32	$12.42	+0.8%	+1.7%	+6.7%	+1.1%	+1.1%	+0.6%
Feb 25	Guggenheim	Maintains	Buy → Buy	—	$12.32	$12.42	+0.8%	+1.7%	+6.7%	+1.1%	+1.1%	+0.6%
Feb 25	Citigroup	Maintains	Buy → Buy	—	$12.32	$12.42	+0.8%	+1.7%	+6.7%	+1.1%	+1.1%	+0.6%
Feb 25	Barclays	Maintains	Overweight → Overweight	—	$12.32	$12.42	+0.8%	+1.7%	+6.7%	+1.1%	+1.1%	+0.6%
Feb 24	TD Cowen	Maintains	Buy → Buy	—	$15.50	$13.64	-12.0%	-20.5%	-19.2%	-15.2%	-19.6%	-19.6%
Jan 7	Barclays	Maintains	Overweight → Overweight	—	$15.90	$15.59	-1.9%	-4.1%	-3.0%	-2.1%	+3.6%	+2.3%
Aug 6	Stephens & Co.	Maintains	Overweight → Overweight	—	$17.85	$17.97	+0.7%	+5.5%	-0.3%	-1.1%	-0.6%	-0.3%
Aug 6	Benchmark	Maintains	Buy → Buy	—	$17.85	$17.97	+0.7%	+5.5%	-0.3%	-1.1%	-0.6%	-0.3%
Jul 29	TD Cowen	Maintains	Buy → Buy	—	$17.23	$17.25	+0.1%	-2.0%	+1.1%	+0.3%	-2.6%	+0.1%
Jul 18	BofA Securities	Maintains	Buy → Buy	—	$16.96	$17.29	+1.9%	-0.7%	+0.2%	+4.0%	+8.1%	+0.4%
Jul 17	Raymond James	Maintains	Strong Buy → Strong Buy	—	$17.01	$17.50	+2.9%	-0.3%	-1.0%	-0.1%	+3.6%	+7.8%
Jul 17	Barclays	Maintains	Overweight → Overweight	—	$17.01	$17.50	+2.9%	-0.3%	-1.0%	-0.1%	+3.6%	+7.8%
Jun 4	TD Securities	Maintains	Buy → Buy	—	$15.35	$15.00	-2.3%	+1.4%	-2.8%	-2.7%	+4.0%	+3.6%
May 8	Guggenheim	Maintains	Buy → Buy	—	$15.99	$16.12	+0.8%	+0.0%	-1.4%	+4.8%	+6.2%	+8.6%
May 7	Stephens & Co.	Maintains	Overweight → Overweight	—	$15.33	$15.16	-1.1%	+4.3%	+4.3%	+2.9%	+9.3%	+10.8%
May 7	Piper Sandler	Maintains	Overweight → Overweight	—	$15.33	$15.16	-1.1%	+4.3%	+4.3%	+2.9%	+9.3%	+10.8%
May 7	Benchmark	Maintains	Buy → Buy	—	$15.33	$15.16	-1.1%	+4.3%	+4.3%	+2.9%	+9.3%	+10.8%
May 7	Raymond James	Maintains	Strong Buy → Strong Buy	—	$15.33	$15.16	-1.1%	+4.3%	+4.3%	+2.9%	+9.3%	+10.8%
May 7	TD Securities	Maintains	Buy → Buy	—	$15.33	$15.16	-1.1%	+4.3%	+4.3%	+2.9%	+9.3%	+10.8%
May 6	Barclays	Maintains	Overweight → Overweight	—	$18.61	$15.10	-18.9%	-17.6%	-14.1%	-14.1%	-15.3%	-10.0%
Apr 24	Stephens & Co.	Maintains	Overweight → Overweight	—	$20.00	$19.90	-0.5%	-3.1%	-3.0%	-5.3%	-8.2%	-11.7%
Apr 22	Barclays	Maintains	Overweight → Overweight	—	$20.09	$19.80	-1.4%	-1.0%	-0.4%	-3.6%	-3.4%	-5.8%
Apr 1	TD Securities	Upgrade	Hold → Buy	—	$16.65	$17.50	+5.1%	+7.6%	+10.6%	+3.2%	-1.9%	-3.1%
Mar 20	Stephens & Co.	Maintains	Overweight → Overweight	—	$16.45	$16.26	-1.2%	+2.4%	-0.7%	+6.1%	+5.1%	+6.8%
Mar 12	BofA Securities	Maintains	Buy → Buy	—	$16.83	$16.81	-0.1%	+1.2%	-2.4%	-2.0%	-3.6%	-1.0%
Mar 12	TD Securities	Maintains	Hold → Hold	—	$16.83	$16.81	-0.1%	+1.2%	-2.4%	-2.0%	-3.6%	-1.0%
Mar 12	Stephens & Co.	Maintains	Overweight → Overweight	—	$16.83	$16.81	-0.1%	+1.2%	-2.4%	-2.0%	-3.6%	-1.0%
Mar 12	Barclays	Maintains	Overweight → Overweight	—	$16.83	$16.81	-0.1%	+1.2%	-2.4%	-2.0%	-3.6%	-1.0%
Mar 11	Stephens & Co.	Maintains	Overweight → Overweight	—	$18.10	$17.96	-0.8%	-7.0%	-5.9%	-9.3%	-8.9%	-10.3%
Jan 28	Stephens & Co.	Maintains	Overweight → Overweight	—	$20.63	$20.69	+0.3%	+2.9%	+3.4%	+2.8%	+1.7%	+1.6%
Nov 13	Stephens & Co.	Maintains	Overweight → Overweight	—	$19.55	$19.87	+1.6%	-0.7%	-3.2%	-6.8%	-10.1%	-12.2%
Nov 11	Piper Sandler	Maintains	Overweight → Overweight	—	$21.07	$21.22	+0.7%	+1.7%	-7.2%	-7.9%	-10.2%	-13.5%
Nov 11	Barclays	Maintains	Overweight → Overweight	—	$21.07	$21.22	+0.7%	+1.7%	-7.2%	-7.9%	-10.2%	-13.5%
Nov 8	Stephens & Co.	Maintains	Overweight → Overweight	—	$20.83	$20.84	+0.0%	+1.2%	+2.8%	-6.1%	-6.8%	-9.1%
Nov 8	Raymond James	Maintains	Strong Buy → Strong Buy	—	$20.83	$20.84	+0.0%	+1.2%	+2.8%	-6.1%	-6.8%	-9.1%
Nov 8	Barclays	Maintains	Overweight → Overweight	—	$20.83	$20.84	+0.0%	+1.2%	+2.8%	-6.1%	-6.8%	-9.1%
Nov 8	TD Cowen	Maintains	Hold → Hold	—	$20.83	$20.84	+0.0%	+1.2%	+2.8%	-6.1%	-6.8%	-9.1%
Oct 22	Barclays	Maintains	Overweight → Overweight	—	$17.37	$17.14	-1.3%	-2.2%	-3.0%	-4.8%	-2.5%	+1.3%
Oct 16	Benchmark	Maintains	Buy → Buy	—	$14.77	$14.85	+0.5%	+1.4%	+12.0%	+14.4%	+17.6%	+15.0%
Oct 4	Guggenheim	Maintains	Buy → Buy	—	$14.40	$14.50	+0.7%	+0.8%	-4.7%	-6.7%	-7.6%	-7.2%
Sep 12	TD Cowen	Maintains	Hold → Hold	—	$14.94	$15.03	+0.6%	+0.4%	+0.5%	+2.7%	+2.7%	+1.5%
Aug 7	Barclays	Maintains	Overweight → Overweight	—	$15.86	$16.03	+1.1%	-0.3%	+5.2%	+2.3%	+2.3%	+3.8%
Aug 7	TD Cowen	Maintains	Hold → Hold	—	$15.86	$16.03	+1.1%	-0.3%	+5.2%	+2.3%	+2.3%	+3.8%
Jul 17	TD Cowen	Maintains	Hold → Hold	—	$16.30	$16.17	-0.8%	-3.6%	-3.5%	-4.3%	-5.5%	-6.9%
Jul 17	BofA Securities	Maintains	Buy → Buy	—	$16.30	$16.17	-0.8%	-3.6%	-3.5%	-4.3%	-5.5%	-6.9%
Jul 2	Stifel	Maintains	Hold → Hold	—	$16.95	$16.59	-2.1%	-4.2%	-5.2%	-6.7%	-1.5%	-7.8%
Jun 13	TD Cowen	Maintains	Hold → Hold	—	$18.08	$17.91	-0.9%	-0.2%	-1.4%	+1.0%	+3.8%	+1.3%
May 8	TD Cowen	Maintains	Hold → Hold	—	$21.51	$21.19	-1.5%	+1.6%	-0.8%	-2.6%	-8.5%	-9.7%

Recent Filings

8-K · 2.02 !! High

First Watch Restaurant Group, Inc. -- 8-K 2.02: Earnings Results

First Watch Restaurant Group reported its financial results on May 5, 2026, providing investors with updated insights into the company's operational performance and financial condition.

May 5

8-K · 5.02 !!! Very High

Unknown — 8-K 5.02: Executive Change

I don't have enough information to provide a meaningful analysis. The filing summary lacks critical details about the executive change at FWRG (who left/joined, their role, circumstances). Without these specifics, I cannot assess the impact on stock value or investor implications.

Mar 27

8-K · 7.01 ! Medium

First Watch Restaurant Group, Inc. -- 8-K 7.01: Regulation FD Disclosure

First Watch Restaurant Group disclosed supplemental investor information via its website and SEC filing, providing updated operational metrics and financial details for shareholder review.

Feb 24

8-K · 5.02 !!! Very High

First Watch Restaurant Group, Inc. -- 8-K 5.02: Executive Change

First Watch Restaurant Group's CFO Mel Hope is retiring after eight years, with the company actively searching for an internal or external replacement to fill the critical financial leadership role.

Feb 24

Data updated apr 25, 2026 10:33am · Source: massive.com