What is First Watch Restaurant Group, Inc.'s net income?

First Watch Restaurant Group, Inc. (FWRG) reported net income of -$2.69M in Q1 2026.

How has First Watch Restaurant Group, Inc.'s net income changed year-over-year?

First Watch Restaurant Group, Inc.'s net income decreased by 223.9% year-over-year, from -$829K to -$2.69M.

What is the long-term trend for First Watch Restaurant Group, Inc.'s net income?

Over 4 years (2021 to 2025), First Watch Restaurant Group, Inc.'s net income has grown at a 74.3% compound annual growth rate (CAGR), from -$2.11M to $19.43M.

What does net income mean?

Net income as the starting point for the indirect method operating cash flow reconciliation.

First Watch Restaurant Group, Inc. FWRG Net Income

Net Income at other companies

Cracker Barrel Old Country StoreCBRL

$42.81M+240%

Biglari Holdings Inc.BH

-$14.53M+56.3%

SweetgreenSG

$125.81M+602%

WingstopWING

$29.88M-67.6%

BJ's RestaurantsBJRI

$9.03M-33.0%

Wendy'sWEN

$22.71M-42.1%

Segments

By segment

See full

Reportable Segment-$2.69M-224%

Other financials

Income statement

See full

Revenue$331.0M+17.3%

Operating income$999.0K-10.2%

Net income-$2.7M-224%

EPS (diluted)-$0.04-300%

Balance sheet

See full

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

See full

Operating cash flow$34.5M+71.1%

CapEx$29.3M-19.7%

Free cash flow$5.1M+131%

Valuation

See full

Market cap$752.07M-22.1%

Enterprise value$1.76B-1.0%

P/E42.8×-45.9×

P/S0.6×-0.3×

Profitability

See full

Operating margin2.2%-0.5pp

Net margin1.4%+0.4pp

FCF margin-2.6%—

Returns & leverage

See full

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:NetIncomeLoss.

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 net income?: First Watch Restaurant Group, Inc. (FWRG) reported net income of -$2.69M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s net income changed year-over-year?: First Watch Restaurant Group, Inc.'s net income decreased by 223.9% year-over-year, from -$829K to -$2.69M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s net income?: Over 4 years (2021 to 2025), First Watch Restaurant Group, Inc.'s net income has grown at a 74.3% compound annual growth rate (CAGR), from -$2.11M to $19.43M.
What does net income mean?: Net income as the starting point for the indirect method operating cash flow reconciliation.