First Watch Restaurant Group, Inc. (FWRG)

FWRG Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 28, 2025	Dec 29, 2024	Dec 31, 2023	Dec 25, 2022	Dec 26, 2021	Dec 27, 2020
Net Income	4.97	18.93	25.39	6.91	-2.11	-49.68
Depreciation & Amortization	70.11	57.72	41.22	34.23	32.38	30.73
Other Amortization	0.65	0.57	0.45	0.45	1.09	1.28
Loss (Gain) From Sale of Assets	0.53	0.53	0.86	0.92	-	-
Asset Writedown & Restructuring Costs	-0.08	-	0.5	-	0.38	0.32
Stock-Based Compensation	10.06	8.53	7.6	10.37	8.6	0.75
Other Operating Activities	32.6	33.73	26.59	20.5	16.67	-8.26
Change in Accounts Receivable	-0.57	-1.7	0.63	-1.71	-0.54	1.83
Change in Inventory	-0.97	-0.51	-0.06	-1.01	-1.11	-0.2
Change in Accounts Payable	0.36	0.64	-1.3	-3.47	6.7	-0.87
Change in Unearned Revenue	-0.27	-0.14	-0.66	0.72	0.65	-3.06
Change in Other Net Operating Assets	13	-2.6	-5.89	-4.97	0.26	8.81
Operating Cash Flow	130.38	115.67	95.34	62.94	62.97	-18.36
Operating Cash Flow Growth	13.33%	21.33%	51.48%	-0.05%	-	-
Capital Expenditures	-160.79	-127.95	-84.53	-62.22	-35.31	-26.75
Cash Acquisitions	-54.92	-78.64	-39.88	-	-	-
Sale (Purchase) of Intangibles	-0.83	-0.1	-0.16	-1.11	-0.37	-0.23
Other Investing Activities	0.03	0.03	1.2	0.22	-	-
Investing Cash Flow	-216.51	-206.65	-123.37	-63.11	-35.68	-26.97
Short-Term Debt Issued	-	-	-	1.89	2.87	-
Long-Term Debt Issued	-	220	30	-	100	76.6
Total Debt Issued	289	220	30	1.89	102.87	76.6
Short-Term Debt Repaid	-	-	-1.38	-2.87	-0.52	-
Long-Term Debt Repaid	-	-149.29	-6.18	-2.39	-291.6	-43.29
Total Debt Repaid	-234.97	-149.29	-7.56	-5.26	-292.12	-43.29
Net Debt Issued (Repaid)	54.03	70.71	22.44	-3.37	-189.25	33.31
Issuance of Common Stock	1.69	6.43	5.83	1.43	182.1	-
Other Financing Activities	-	-2.81	-0.2	-0.08	-7.12	-
Financing Cash Flow	55.71	74.33	28.07	-2.02	-14.27	73.31
Net Cash Flow	-30.42	-16.65	0.04	-2.19	13.02	27.98
Free Cash Flow	-30.41	-12.28	10.81	0.72	27.66	-45.11
Free Cash Flow Growth	-	-	1405.71%	-97.40%	-	-
Free Cash Flow Margin	-2.60%	-1.21%	1.21%	0.10%	4.60%	-13.18%
Free Cash Flow Per Share	-0.48	-0.20	0.18	0.01	0.57	-1.00
Cash Interest Paid	13.3	12.33	8.73	3.37	16.15	19.82
Cash Income Tax Paid	2.22	3.11	1.95	0.92	0.08	0.16
Levered Free Cash Flow	-61.27	-38.26	1.33	-8.37	25.23	-44.65
Unlevered Free Cash Flow	-52.46	-30.92	5.91	-5.54	36.7	-31.68
Change in Working Capital	11.55	-4.31	-7.27	-10.44	5.96	6.51

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q