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First Watch Restaurant Group, Inc. FWRG Labor

Labor at other companies

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Segments

By segment

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Reportable Segment$110.61M+14.3%

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$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:CostDirectLabor.

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
Operating costs and expenses
Restaurant operating expenses (exclusive of depreciation and amortization shown below):
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

Item 1. Financial Statements (Unaudited)

FAQ

What is First Watch Restaurant Group, Inc.'s labor?
First Watch Restaurant Group, Inc. (FWRG) reported labor of $110.61M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s labor changed year-over-year?
First Watch Restaurant Group, Inc.'s labor increased by 14.3% year-over-year, from $96.75M to $110.61M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s labor?
Over 4 years (2021 to 2025), First Watch Restaurant Group, Inc.'s labor has grown at a 21.0% compound annual growth rate (CAGR), from $189.17M to $405.54M.
What does labor mean?
This metric captures the total compensation, benefits, and payroll-related taxes for restaurant-level staff. It reflects the company's investment in human capital and operational staffing efficiency. Managing this cost is essential for maintaining profitability in a high-touch service environment.

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