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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:CostsAndExpenses.

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
Depreciation and amortization21,39616,557
Impairments and loss on disposal of assets1539
Transaction and restructuring expenses, net1,176873
Total operating costs and expenses329,960281,127
Income from operations9991,113
Interest expense(4,778)(3,334)
Other income, net345684
Loss before income taxes(3,434)(1,537)

Item 1. Financial Statements (Unaudited)

FAQ

What is First Watch Restaurant Group, Inc.'s total costs & expenses?
First Watch Restaurant Group, Inc. (FWRG) reported total costs & expenses of $329.96M in Q1 2026.
How has First Watch Restaurant Group, Inc.'s total costs & expenses changed year-over-year?
First Watch Restaurant Group, Inc.'s total costs & expenses increased by 17.4% year-over-year, from $281.13M to $329.96M.
What is the long-term trend for First Watch Restaurant Group, Inc.'s total costs & expenses?
Over 4 years (2021 to 2025), First Watch Restaurant Group, Inc.'s total costs & expenses has grown at a 19.9% compound annual growth rate (CAGR), from $578.95M to $1.19B.
What does total costs & expenses mean?
This metric represents the aggregate of all operating, administrative, and non-operating costs incurred by the business during a reporting period. It serves as the primary benchmark for total operational efficiency and cost control across the entire organization. Comparing this to total revenue reveals the company's overall operating margin profile.

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