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First Watch Restaurant Group, Inc. FWRG Business Segments — Income tax benefit

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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$752.07M-22.1%
Enterprise value$1.76B-1.0%
P/E42.8×-45.9×
P/S0.6×-0.3×

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:IncomeTaxExpenseBenefit.

The official record: First Watch Restaurant Group, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is First Watch Restaurant Group, Inc.'s business segments — income tax benefit?
First Watch Restaurant Group, Inc. (FWRG) reported business segments — income tax benefit of -$749K in Q1 2026.
How has First Watch Restaurant Group, Inc.'s business segments — income tax benefit changed year-over-year?
First Watch Restaurant Group, Inc.'s business segments — income tax benefit decreased by 5.8% year-over-year, from -$708K to -$749K.
What is the long-term trend for First Watch Restaurant Group, Inc.'s business segments — income tax benefit?
Over 3 years (2022 to 2025), First Watch Restaurant Group, Inc.'s business segments — income tax benefit has grown at a 8.7% compound annual growth rate (CAGR), from $5.68M to -$7.3M.
What does business segments — income tax benefit mean?
This metric represents the reduction in income tax expense recognized by the business segment, often resulting from tax credits, deferred tax assets, or operating losses that offset taxable income. It reflects the net impact of tax-related accounting adjustments on the segment's financial results. Investors track this to understand how tax planning and regulatory environments influence the segment's net earnings.