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First Watch Restaurant Group, Inc. FWRG Business Segments — Occupancy expenses

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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:CostOfGoodsAndServicesSoldOverhead.

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
Line itemTHIRTEEN WEEKS ENDED / MARCH 29, 2026THIRTEEN WEEKS ENDED / MARCH 30, 2025
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
General and administrative expenses39,94530,219
Depreciation and amortization21,39616,557
Impairments and loss on disposal of assets1539

Item 1. Financial Statements (Unaudited)

FAQ

What is First Watch Restaurant Group, Inc.'s business segments — occupancy expenses?
First Watch Restaurant Group, Inc. (FWRG) reported business segments — occupancy expenses of $27.41M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s business segments — occupancy expenses changed year-over-year?
First Watch Restaurant Group, Inc.'s business segments — occupancy expenses increased by 18.4% year-over-year, from $23.15M to $27.41M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s business segments — occupancy expenses?
Over 3 years (2022 to 2025), First Watch Restaurant Group, Inc.'s business segments — occupancy expenses has grown at a 18.9% compound annual growth rate (CAGR), from $59.92M to $100.79M.
What does business segments — occupancy expenses mean?
This metric reflects the costs associated with leasing and maintaining restaurant real estate, including rent, property taxes, and insurance. It is a key indicator of the company's fixed cost structure and real estate strategy.

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