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First Watch Restaurant Group, Inc. (FWRG)
Consumer Cyclical · Restaurants · NasdaqGS
First Watch Restaurant Group, Inc. revenue & earnings — last 7 fiscal years
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $436.37M | $342.39M | $601.19M | $730.16M | $891.55M | $1.02B | $1.22B |
| Gross profit | — | — | — | $139.53M | $190.12M | $213.00M | $234.45M |
| Net income | $-45.44M | $-49.68M | $-2.11M | $6.91M | $25.39M | $18.93M | $19.43M |
| Net margin | -10.4% | -14.5% | -0.4% | 0.9% | 2.8% | 1.9% | 1.6% |
Source: First Watch Restaurant Group, Inc. SEC filings (10-K).
Explore 7 years of First Watch Restaurant Group, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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First Watch Restaurant Group, Inc. financial history by metric
About First Watch Restaurant Group, Inc.
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.
First Watch Restaurant Group, Inc. — frequently asked questions
What is First Watch Restaurant Group, Inc.'s revenue?
First Watch Restaurant Group, Inc. (FWRG) reported revenue of $1.22B for fiscal year 2025, up 20.3% from the prior year, according to its SEC filings.
Is First Watch Restaurant Group, Inc. profitable?
Yes. FWRG earned net income of $19.43M in fiscal 2025, a net margin of 1.6%.
What is FWRG's P/E ratio?
First Watch Restaurant Group, Inc. trades at a price-to-earnings ratio of about 39.5 based on the latest data in our nightly-refreshed cache.
How fast is First Watch Restaurant Group, Inc. growing?
FWRG's revenue grew at roughly 29.0% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does First Watch Restaurant Group, Inc. have?
As of fiscal year 2025, FWRG carried roughly $282.38M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is First Watch Restaurant Group, Inc.'s gross margin?
FWRG's gross margin was 19.2% in fiscal 2025 — gross profit of $234.45M on revenue of $1.22B.
What is First Watch Restaurant Group, Inc.'s market cap?
First Watch Restaurant Group, Inc. (FWRG) has a market capitalization of about $681.48M, based on the latest data in our nightly-refreshed cache.
When does First Watch Restaurant Group, Inc.'s fiscal year end?
FWRG's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from First Watch Restaurant Group, Inc.'s official SEC filings (10-K and 10-Q), covering 7 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.