Where do First Watch Restaurant Group, Inc.'s ratios come from?

Every ratio is computed from First Watch Restaurant Group, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	2.2%-0.5pp	2.3%-1.6pp	1.9%-2.3pp	1.7%-2.8pp	2.6%-1.5pp
Net margin	1.4%+0.4pp	1.6%-0.3pp	0.4%-3.9pp	0.4%-4.5pp	1%-4.0pp
EBITDA margin	8.4%-0.1pp	8.4%-1.1pp	7.9%-1.7pp	7.6%-2.0pp	8.5%-0.5pp
Returns
Return on equity	2.9%+1.0pp	3.2%-0.1pp	0.8%-6.8pp	0.7%-7.6pp	1.9%-6.4pp
Return on assets	1.1%+0.3pp	1.2%-0.2pp	0.3%-2.9pp	0.3%-3.3pp	0.8%-3.1pp
Return on invested capital	1.8%+0.4pp	1.8%-0.3pp	0.9%-1.3pp	0.9%-1.7pp	1.4%-1.2pp
Efficiency
Asset turnover	0.8×0.0×	0.8×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Liquidity
Current ratio	0.3×0.0×	0.3×-0.1×	0.2×-0.3×	0.3×-0.3×	0.3×-0.3×
Quick ratio	0.3×0.0×	0.3×-0.1×	0.2×-0.3×	0.2×-0.3×	0.3×-0.3×
Cash ratio	0.1×0.0×	0.1×-0.1×	0.1×-0.3×	0.1×-0.3×	0.1×-0.3×
Leverage
Debt-to-equity	1.6×+0.3×	1.6×+0.3×	1.6×+0.3×	1.6×+0.3×	1.4×+0.3×
Debt-to-assets	0.6×0.0×	0.6×0.0×	0.6×+0.1×	0.6×+0.1×	0.5×+0.1×
Net debt / EBITDA	9.4×+0.3×	9.6×+1.7×	10.4×+2.9×	11.1×+3.6×	9.1×+2.2×
Interest coverage	1.5×-0.6×	1.6×-1.4×	1.5×-2.1×	1.3×-3.0×	2.1×-2.3×
Per Share
Book value per share	$10.25+4.4%	$9.97+4.4%	$9.67+1.5%	$9.61+2.5%	$9.81+6.7%
Valuation
Market capitalization	$744.67M-22.9%	$920.36M-18.3%	$954.41M+1.3%	$946.61M-10.2%	$1.01B-31.6%
Enterprise value	$1.75B-1.4%	$1.91B+0.5%	$1.92B+15.2%	$1.88B+7.4%	$1.82B-10.8%
Price / earnings	42.4×-46.4×	47.4×-12.2×	192.2×+171×	231.6×+209×	92.9×+60.7×
Price / sales	0.6×-0.3×	0.8×-0.4×	0.8×-0.1×	0.9×-0.2×	1×-0.6×
Price / book	1.2×-0.4×	1.5×-0.4×	1.6×0.0×	1.6×-0.2×	1.7×-0.9×
EV / EBITDA	16.3×-3.5×	18.6×-1.0×	20.7×+3.4×	22.3×+3.5×	20.3×-4.4×
EV / sales	1.4×-0.3×	1.6×-0.3×	1.6×0.0×	1.7×-0.1×	1.7×-0.5×
Earnings yield	2.4%+1.2pp	2.1%+0.4pp	0.5%-4.1pp	0.4%-4.0pp	1.1%-2.0pp
PEG ratio	0.7×—	17.7×—	——	——	——

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Where do First Watch Restaurant Group, Inc.'s ratios come from?: Every ratio is computed from First Watch Restaurant Group, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.