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First Watch Restaurant Group, Inc. FWRG Business Segments — Food and beverage costs

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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$766.47M-29.2%
Enterprise value$1.78B-12.1%
P/E43.6×-221×
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:CostDirectMaterial.

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)THIRTEEN WEEKS ENDED / MARCH 29, 2026THIRTEEN WEEKS ENDED / MARCH 30, 2025
Total revenues$330,959$282,240
Less:
Food and beverage costs74,31066,647
Labor and other related expenses110,60996,754
Other restaurant operating expenses51,90444,259
Occupancy expenses27,41023,149
Pre-opening expenses3,0572,660
Stock-based compensation, net of amounts capitalized3,3522,259

Item 1. Financial Statements (Unaudited)

FAQ

What is First Watch Restaurant Group, Inc.'s business segments — food and beverage costs?
First Watch Restaurant Group, Inc. (FWRG) reported business segments — food and beverage costs of $74.31M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s business segments — food and beverage costs changed year-over-year?
First Watch Restaurant Group, Inc.'s business segments — food and beverage costs increased by 11.5% year-over-year, from $66.65M to $74.31M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s business segments — food and beverage costs?
Over 3 years (2022 to 2025), First Watch Restaurant Group, Inc.'s business segments — food and beverage costs has grown at a 17.5% compound annual growth rate (CAGR), from $172.56M to $280.1M.
What does business segments — food and beverage costs mean?
This represents the direct costs associated with the ingredients and beverages used in the preparation of menu items. Monitoring this metric is essential for assessing supply chain efficiency and the ability to manage commodity price volatility.

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