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

First Watch Restaurant Group, Inc.'s net investment in lease increased by 15.1% year-over-year, from $548.55M to $631.46M.

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

Over 5 years (2020 to 2025), First Watch Restaurant Group, Inc.'s net investment in lease has grown at a 14.8% compound annual growth rate (CAGR), from $307.56M to $614.55M.

First Watch Restaurant Group, Inc. FWRG Net Investment in Lease

Net Investment in Lease at other companies

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WingstopWING

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BJ's RestaurantsBJRI

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CAVA GroupCAVA

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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:OperatingLeaseRightOfUseAsset.

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 investment in lease?: First Watch Restaurant Group, Inc. (FWRG) reported net investment in lease of $631.46M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s net investment in lease changed year-over-year?: First Watch Restaurant Group, Inc.'s net investment in lease increased by 15.1% year-over-year, from $548.55M to $631.46M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s net investment in lease?: Over 5 years (2020 to 2025), First Watch Restaurant Group, Inc.'s net investment in lease has grown at a 14.8% compound annual growth rate (CAGR), from $307.56M to $614.55M.