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First Watch Restaurant Group, Inc. FWRG Finance Lease Liabilities

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Other financials

Income statement

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Revenue$331.0M+17.3%
Operating income$999.0K-10.2%
Net income-$2.7M-224%
EPS (diluted)-$0.04-300%

Balance sheet

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Cash & equivalents$23.6M+26.6%
Total debt$1.0B+24.1%
Total equity$627.7M+5.3%
Total assets$1.8B+14.9%

Cash flow

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Operating cash flow$34.5M+71.1%
CapEx$29.3M-19.7%
Free cash flow$5.1M+131%

Valuation

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Market cap$768.32M-29.2%
Enterprise value$1.78B-12.1%
P/E43.7×-222×
P/S0.6×-0.4×

Profitability

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Operating margin2.2%-0.5pp
Net margin1.4%+0.4pp
FCF margin-2.6%

Returns & leverage

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Return on equity2.9%+1.0pp
Debt / equity1.6×+0.3×
Current ratio0.3×0.0×

Where this comes from

Reported directly by First Watch Restaurant Group, Inc. in its filing.

Tagged under the XBRL concept us-gaap:FinanceLeaseLiabilityNoncurrent.

The source filing: First Watch Restaurant Group, Inc.’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 7:03 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001789940-26-000060
(in thousands)Consolidated Balance Sheet ClassificationMARCH 29, 2026DECEMBER 28, 2025
Operating lease right-of-use assetsOperating lease right-of-use assets631,458614,548
Finance lease assetsProperty, fixtures and equipment, net12,67510,730
Total lease assets$644,133$625,398
Operating lease liabilities - current(1)Current portion of operating lease liabilities$76,004$75,034
Operating lease liabilities - non-currentOperating lease liabilities672,562651,254
Finance lease liabilities - current(1)Current portion of long-term debt2,1092,059
Finance lease liabilities - non-currentLong-term debt, net12,73410,847
Total lease liabilities$763,409$739,194

Item 1. Financial Statements (Unaudited)

FAQ

What is First Watch Restaurant Group, Inc.'s finance lease liabilities?
First Watch Restaurant Group, Inc. (FWRG) reported finance lease liabilities of $12.73M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s finance lease liabilities changed year-over-year?
First Watch Restaurant Group, Inc.'s finance lease liabilities increased by 215.0% year-over-year, from $4.04M to $12.73M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s finance lease liabilities?
Over 5 years (2020 to 2025), First Watch Restaurant Group, Inc.'s finance lease liabilities has grown at a 45.6% compound annual growth rate (CAGR), from $1.66M to $10.85M.
What does finance lease liabilities mean?
Present value of future payments on leases classified as finance leases under ASC 842 — treated similarly to debt on the balance sheet.

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