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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:InventoryNet.

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 itemMARCH 29, 2026DECEMBER 28, 2025
Current assets:
Cash and cash equivalents$23,565$21,246
Accounts receivable6,0316,859
Inventory7,1377,174
Prepaid expenses12,3707,945
Deposits and other current assets2,4635,856
Total current assets51,56649,080
Goodwill420,208420,208

Item 1. Financial Statements (Unaudited)

FAQ

What is First Watch Restaurant Group, Inc.'s inventories?
First Watch Restaurant Group, Inc. (FWRG) reported inventories of $7.14M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s inventories changed year-over-year?
First Watch Restaurant Group, Inc.'s inventories increased by 15.1% year-over-year, from $6.2M to $7.14M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s inventories?
Over 4 years (2021 to 2025), First Watch Restaurant Group, Inc.'s inventories has grown at a 35.8% compound annual growth rate (CAGR), from $7.83M to $26.63M.
What does inventories mean?
Total inventory including raw materials, work-in-progress, and finished goods, valued at the lower of cost or net realizable value.

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