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First Watch Restaurant Group, Inc. FWRG Restaurant sales — Total revenues

Other product segments

In-restaurant dining sales
$265.72M+17.2%
Third-party delivery sales
$39.69M+24.0%
Take-out sales
$22.73M+9.0%
Royalty and system fund contributions
$2.76M+6.5%
Initial fees
$56K-9.7%

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WINGRestaurants Segment — Total Revenue
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$179M-6.3%

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$744.67M-22.9%
Enterprise value$1.75B-1.4%
P/E42.4×-46.4×
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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 restaurant sales — total revenues?
First Watch Restaurant Group, Inc. (FWRG) reported restaurant sales — total revenues of $328.15M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s restaurant sales — total revenues changed year-over-year?
First Watch Restaurant Group, Inc.'s restaurant sales — total revenues increased by 17.4% year-over-year, from $279.59M to $328.15M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s restaurant sales — total revenues?
Over 4 years (2021 to 2025), First Watch Restaurant Group, Inc.'s restaurant sales — total revenues has grown at a 19.6% compound annual growth rate (CAGR), from $592.34M to $1.21B.
What does restaurant sales — total revenues mean?
This metric represents the total gross revenue generated specifically from company-operated restaurant locations, excluding franchise-related income. It serves as a primary indicator of the brand's operational scale and consumer demand for the core daytime dining concept. Tracking this figure allows investors to assess the growth trajectory and market penetration of the company's owned restaurant footprint.