First Watch Restaurant Group, Inc. (FWRG)
| Market Cap | 708.30M -27.4% |
| Revenue (ttm) | 1.27B +20.4% |
| Net Income | 17.58M +61.5% |
| EPS | 0.28 +63.7% |
| Shares Out | 61.64M |
| PE Ratio | 41.01 |
| Forward PE | 56.80 |
| Dividend | n/a |
| Ex-Dividend Date | n/a |
| Volume | 1,079,125 |
| Open | 11.34 |
| Previous Close | 11.34 |
| Day's Range | 11.19 - 11.61 |
| 52-Week Range | 10.09 - 19.53 |
| Beta | 1.12 |
| Analysts | Strong Buy |
| Price Target | 19.00 (+65.36%) |
| Earnings Date | May 5, 2026 |
About FWRG
First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc. and changed its name to First Watch Restaurant Group, Inc. in December 2019. First Watch Restaurant Group, Inc. was founded in 1983 and is based in Bradenton, Florida.
Financial Performance
In 2025, FWRG's revenue was $1.22 billion, an increase of 20.34% compared to the previous year's $1.02 billion. Earnings were $19.43 million, an increase of 2.68%.
Financial StatementsAnalyst Summary
According to 11 analysts, the average rating for FWRG stock is "Strong Buy." The 12-month stock price target is $19.0, which is an increase of 65.36% from the latest price.
News
First Watch Restaurant Group Transcript: AGM 2026
The meeting covered board updates, shareholder proposals, and voting outcomes, with all proposals—including director elections, executive compensation, and auditor ratification—approved. Shareholders participated virtually, and no relevant questions were raised during the Q&A.
First Watch Restaurant price target lowered to $14 from $15 at Stifel
Stifel analyst Chris O’Cull lowered the firm’s price target on First Watch Restaurant (FWRG) to $14 from $15 and keeps a Hold rating on the shares. The firm notes the…
First Watch Restaurant price target lowered to $17 from $18 at TD Cowen
TD Cowen lowered the firm’s price target on First Watch Restaurant (FWRG) to $17 from $18 and keeps a Buy rating on the shares. The company’s Q1 same-store sales of…
First Watch Restaurant Group Earnings Call Transcript: Q1 2026
Q1 2026 saw 17.3% revenue growth, 2.8% same-restaurant sales growth, and margin expansion, driven by new menu innovation and expanded digital marketing. Guidance for sales and EBITDA was reiterated or raised, with strong new restaurant performance and continued disciplined expansion.
First Watch Restaurant Group Earnings release: Q1 2026
First Watch Restaurant Group released its Q1 2026 earnings on May 5, 2026, summarizing the period's financial results.
First Watch Restaurant Group Quarterly report: Q1 2026
First Watch Restaurant Group has published its Q1 2026 quarterly earnings report on May 5, 2026.
First Watch Restaurant Group Slides: Q1 2026
First Watch Restaurant Group has posted slides in relation to its Q1 2026 quarterly earnings report, which was published on May 5, 2026.
First Watch Restaurant Group, Inc. Reports Q1 2026 Financial Results
Same-restaurant sales growth of 2.8% Total revenues increased 17.3% Net loss of $(2.7) million and Adjusted EBITDA of $27.8 million 16 new system-wide restaurants opened in 11 states BRADENTON, Fla., ...
First Watch Restaurant price target lowered to $19 from $20 at BofA
BofA lowered the firm’s price target on First Watch Restaurant (FWRG) to $19 from $20 and keeps a Buy rating on the shares. The firm is updating estimates and price…
First Watch Restaurant price target lowered to $22 from $24 at Benchmark
Benchmark analyst Todd Brooks lowered the firm’s price target on First Watch Restaurant (FWRG) to $22 from $24 and keeps a Buy rating on the shares.
First Watch Restaurant Group Proxy statement: Proxy filing
First Watch Restaurant Group filed a proxy statement on April 8, 2026, providing details for shareholder voting and corporate governance matters.
First Watch Restaurant Group Proxy statement: Proxy filing
First Watch Restaurant Group filed a proxy statement on April 8, 2026, providing details for shareholder voting and corporate governance matters.
DA Davidson starts First Watch Restaurant at Buy, sees est. upside for two years
As previously reported, DA Davidson initiated coverage of First Watch Restaurant (FWRG) with a Buy rating and $17 price target The company’s rapid expansion has provided clear evidence of geographic…
First Watch Restaurant initiated with a Buy at DA Davidson
DA Davidson initiated coverage of First Watch Restaurant (FWRG) with a Buy rating.
First Watch Restaurant Group Transcript: 47th Annual Raymond James Institutional Investor Conference
The company is expanding rapidly with over 600 units, focusing on menu innovation, digital marketing, and operational excellence to drive growth and outperform industry peers. 2026 guidance includes flat margins, modest inflation, and continued unit growth, with a strong emphasis on guest experience and value over aggressive pricing.
First Watch Restaurant price target lowered to $20 from $24 at BofA
BofA analyst Sara Senatore lowered the firm’s price target on First Watch Restaurant (FWRG) to $20 from $24 and keeps a Buy rating on the shares. After earnings, the firm…
First Watch Restaurant price target lowered to $21 from $26 at Citi
Citi lowered the firm’s price target on First Watch Restaurant (FWRG) to $21 from $26 and keeps a Buy rating on the shares.
First Watch Restaurant price target lowered to $17 from $19 at Barclays
Barclays lowered the firm’s price target on First Watch Restaurant (FWRG) to $17 from $19 and keeps an Overweight rating on the shares. The firm says the company’s Q4 fell…
First Watch Restaurant price target lowered to $21 from $24 at Stephens
Stephens lowered the firm’s price target on First Watch Restaurant (FWRG) to $21 from $24 and keeps an Overweight rating on the shares. The company reported Q4 comps in-line with…
First Watch Restaurant price target lowered to $17 from $19 at Barclays
Barclays lowered the firm’s price target on First Watch Restaurant (FWRG) to $17 from $19 and keeps an Overweight rating on the shares.
First Watch Restaurant price target lowered to $19 from $22 at Piper Sandler
Piper Sandler analyst Brian Mullan lowered the firm’s price target on First Watch Restaurant (FWRG) to $19 from $22 and keeps an Overweight rating on the shares. Published first on…
First Watch Restaurant price target lowered to $18 from $21 at TD Cowen
TD Cowen lowered the firm’s price target on First Watch Restaurant (FWRG) to $18 from $21 and keeps a Buy rating on the shares. The firm, which notes that the…
UPDATE – First Watch Restaurant Group, Inc. Reports 2025 Financial Results and Provides Outlook for 2026
BRADENTON, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and ...
First Watch Restaurant Group Earnings Call Transcript: Q4 2025
Delivered over 20% revenue growth and record new restaurant openings in 2025, with strong margin performance and positive same-restaurant sales despite industry headwinds. 2026 guidance anticipates continued growth, disciplined pricing, and expanded digital marketing initiatives.
First Watch Restaurant Group Annual report: Q4 2025
First Watch Restaurant Group has published its Q4 2025 annual report on February 24, 2026.