First Watch Restaurant Group, Inc. (FWRG)
NASDAQ: FWRG · Real-Time Price · USD
10.14
-0.08 (-0.78%)
Sep 25, 2026, 4:00 PM EDT - Market closed
FWRG Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | Dec '25 Dec 28, 2025 | Sep '25 Sep 28, 2025 | Jun '25 Jun 29, 2025 | Mar '25 Mar 30, 2025 | Dec '24 Dec 29, 2024 | Sep '24 Sep 29, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 24, 2023 | Jun '23 Jun 25, 2023 | Mar '23 Mar 26, 2023 | Dec '22 Dec 25, 2022 | Sep '22 Sep 25, 2022 | Jun '22 Jun 26, 2022 | Mar '22 Mar 27, 2022 | Dec '21 Dec 26, 2021 | Sep '21 Sep 26, 2021 |
| 1,318 | 1,271 | 1,223 | 1,169 | 1,105 | 1,056 | 1,016 | 997.25 | 964.86 | 922.59 | 891.55 | 832.66 | 800.3 | 768.46 | 730.16 | 707.04 | 677.63 | 647.14 | 601.19 | 547.97 | |
Revenue Growth (YoY) | 19.27% | 20.41% | 20.34% | 17.27% | 14.53% | 14.43% | 13.95% | 19.77% | 20.56% | 20.06% | 22.10% | 17.77% | 18.10% | 18.75% | 21.45% | 29.03% | 38.21% | 60.61% | 75.59% | - |
Cost of Revenue | 1,046 | 1,009 | 975.12 | 931.31 | 882.74 | 835.73 | 792.8 | 776.55 | 750.06 | 719.31 | 694.26 | 653.71 | 631.23 | 611.8 | 585.21 | 564.67 | 538.38 | 507.61 | 473.65 | 433.33 |
Gross Profit | 271.95 | 262.68 | 247.39 | 238.14 | 222.28 | 219.97 | 223.11 | 220.7 | 214.8 | 203.28 | 197.29 | 178.96 | 169.08 | 156.66 | 144.95 | 142.37 | 139.24 | 139.53 | 127.55 | 114.64 |
Selling, General & Admin | 142.37 | 136.26 | 125.67 | 124.13 | 118.32 | 112.96 | 111.22 | 110.32 | 108.19 | 105.82 | 102.2 | 93.77 | 90.49 | 88.13 | 82.34 | 83.47 | 78.8 | 71.62 | 64.52 | 56.66 |
Operating Expenses | 239.06 | 229.44 | 213.62 | 208.55 | 196.8 | 186.17 | 179.05 | 173.14 | 165.94 | 157.91 | 150.6 | 137.86 | 132.28 | 128.72 | 121.98 | 121.49 | 115.36 | 107.57 | 100.21 | 94.93 |
Operating Income | 32.89 | 33.25 | 33.77 | 29.59 | 25.48 | 33.81 | 44.07 | 47.56 | 48.86 | 45.38 | 46.69 | 41.1 | 36.8 | 27.94 | 22.97 | 20.88 | 23.88 | 31.96 | 27.33 | 19.71 |
Interest Expense | -19.03 | -18.14 | -16.7 | -15.12 | -14 | -13.38 | -12.64 | -11.69 | -10.1 | -8.76 | -8.06 | -7.53 | -7.04 | -6.13 | -5.23 | -4.94 | -9.63 | -14.79 | -20.1 | -24.97 |
Other Non Operating Income (Expenses) | 0.72 | 0.85 | 1.19 | 1.49 | 2.53 | 2.98 | 2.62 | 2.66 | 2.48 | 2.3 | 2.32 | 3.94 | 2.19 | 1.22 | 0.63 | -3.14 | -1.75 | -1.86 | -1.78 | -0.21 |
EBT Excluding Unusual Items | 14.58 | 15.96 | 18.26 | 15.95 | 14.02 | 23.41 | 34.05 | 38.53 | 41.24 | 38.92 | 40.95 | 37.51 | 31.94 | 23.02 | 18.37 | 12.8 | 12.51 | 15.32 | 5.46 | -5.47 |
Merger & Restructuring Charges | -2.66 | -3.82 | -4.38 | -5.68 | -5.47 | -4.64 | -3.44 | -2.45 | -2.23 | -3.3 | -2.95 | -3.62 | -2.9 | -0.24 | -2.32 | -0 | -0 | -0.71 | -0 | 0.04 |
Gain (Loss) on Sale of Assets | -0.58 | -0.59 | -0.45 | -0.45 | -0.39 | -0.42 | -0.53 | -0.63 | -0.7 | -0.84 | -0.86 | -0.97 | -1.12 | -0.98 | -0.92 | -0.69 | -0.45 | -0.34 | -0.38 | -0.29 |
Asset Writedown | - | - | - | - | - | - | - | -0.5 | -0.5 | -0.5 | -0.5 | - | - | - | - | - | - | - | - | -0.01 |
Other Unusual Items | -1.31 | -1.31 | -1.31 | -1.37 | -1.88 | -1.88 | -2.06 | -2.16 | -2.17 | -2.59 | -1.18 | -2.72 | -2.68 | -2.36 | -2.54 | -4.6 | -4.6 | -4.77 | -4.71 | -0.04 |
Pretax Income | 10.03 | 10.24 | 12.13 | 8.45 | 6.27 | 16.48 | 28.03 | 32.79 | 35.96 | 32.17 | 36.08 | 30.83 | 25.54 | 19.59 | 12.59 | 7.52 | 7.46 | 9.5 | 0.37 | -5.78 |
Income Tax Expense | -7.78 | -7.34 | -7.3 | 3.48 | 2.19 | 5.59 | 9.1 | 11.92 | 11.78 | 8.93 | 10.69 | 8.58 | 8.66 | 7.97 | 5.68 | 4.78 | 3.98 | 4.93 | 2.48 | -1.21 |
Earnings From Continuing Operations | 17.81 | 17.58 | 19.43 | 4.97 | 4.09 | 10.88 | 18.93 | 20.87 | 24.18 | 23.24 | 25.39 | 22.25 | 16.88 | 11.63 | 6.91 | 2.74 | 3.48 | 4.58 | -2.11 | -4.57 |
Net Income | 17.81 | 17.58 | 19.43 | 4.97 | 4.09 | 10.88 | 18.93 | 20.87 | 24.18 | 23.24 | 25.39 | 22.25 | 16.88 | 11.63 | 6.91 | 2.74 | 3.48 | 4.58 | -2.11 | -4.57 |
Net Income to Common | 17.81 | 17.58 | 19.43 | 4.97 | 4.09 | 10.88 | 18.93 | 20.87 | 24.18 | 23.24 | 25.39 | 22.25 | 16.88 | 11.63 | 6.91 | 2.74 | 3.48 | 4.58 | -2.11 | -4.57 |
Net Income Growth (YoY) | 335.64% | 61.51% | 2.68% | -76.20% | -83.09% | -53.17% | -25.45% | -6.19% | 43.25% | 99.87% | 267.53% | 712.08% | 385.45% | 154.14% | - | - | - | - | - | - |
Shares Outstanding (Basic) | 61 | 61 | 61 | 61 | 61 | 61 | 60 | 60 | 60 | 60 | 60 | 59 | 59 | 59 | 59 | 59 | 55 | 52 | 48 | 45 |
Shares Outstanding (Diluted) | 62 | 63 | 63 | 63 | 62 | 62 | 62 | 62 | 62 | 62 | 61 | 61 | 61 | 60 | 60 | 59 | 55 | 52 | 48 | 45 |
Shares Change (YoY) | -0.41% | 1.68% | 0.79% | 0.81% | 0.65% | 0.43% | 1.90% | 2.22% | 2.48% | 2.27% | 1.75% | 3.55% | 9.31% | 16.05% | 24.74% | 30.52% | 23.07% | 15.42% | 7.11% | - |
EPS (Basic) | 0.29 | 0.29 | 0.32 | 0.08 | 0.07 | 0.18 | 0.31 | 0.35 | 0.40 | 0.39 | 0.43 | 0.37 | 0.28 | 0.20 | 0.12 | 0.05 | 0.06 | 0.09 | -0.04 | -0.10 |
EPS (Diluted) | 0.28 | 0.28 | 0.31 | 0.08 | 0.06 | 0.17 | 0.30 | 0.33 | 0.39 | 0.38 | 0.41 | 0.36 | 0.27 | 0.18 | 0.11 | 0.04 | 0.06 | 0.09 | -0.04 | -0.10 |
EPS Growth (YoY) | 376.94% | 63.66% | 3.33% | -75.81% | -84.85% | -55.07% | -26.83% | -8.35% | 44.39% | 110.65% | 272.73% | 743.24% | 337.05% | 104.50% | - | - | - | - | - | - |
Additional Metrics
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | Dec '25 Dec 28, 2025 | Sep '25 Sep 28, 2025 | Jun '25 Jun 29, 2025 | Mar '25 Mar 30, 2025 | Dec '24 Dec 29, 2024 | Sep '24 Sep 29, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 24, 2023 | Jun '23 Jun 25, 2023 | Mar '23 Mar 26, 2023 | Dec '22 Dec 25, 2022 | Sep '22 Sep 25, 2022 | Jun '22 Jun 26, 2022 | Mar '22 Mar 27, 2022 | Dec '21 Dec 26, 2021 | Sep '21 Sep 26, 2021 |
Free Cash Flow | -20.88 | -9.48 | -30.99 | -30.41 | -29 | -25.05 | -12.24 | -3.99 | -16.4 | 0.59 | 12.01 | 19.33 | 21.38 | 10.71 | 0.72 | 12.12 | 21.64 | 28.97 | 27.66 | 14.66 |
Free Cash Flow Per Share | -0.34 | -0.15 | -0.49 | -0.48 | -0.46 | -0.40 | -0.20 | -0.06 | -0.26 | 0.01 | 0.20 | 0.32 | 0.35 | 0.18 | 0.01 | 0.21 | 0.39 | 0.56 | 0.57 | 0.33 |
Gross Margin | 20.63% | 20.66% | 20.24% | 20.36% | 20.12% | 20.84% | 21.96% | 22.13% | 22.26% | 22.03% | 22.13% | 21.49% | 21.13% | 20.39% | 19.85% | 20.14% | 20.55% | 21.56% | 21.21% | 20.92% |
Operating Margin | 2.50% | 2.61% | 2.76% | 2.53% | 2.31% | 3.20% | 4.34% | 4.77% | 5.06% | 4.92% | 5.24% | 4.94% | 4.60% | 3.64% | 3.15% | 2.95% | 3.52% | 4.94% | 4.55% | 3.60% |
Profit Margin | 1.35% | 1.38% | 1.59% | 0.43% | 0.37% | 1.03% | 1.86% | 2.09% | 2.51% | 2.52% | 2.85% | 2.67% | 2.11% | 1.51% | 0.95% | 0.39% | 0.51% | 0.71% | -0.35% | -0.83% |
Free Cash Flow Margin | -1.58% | -0.75% | -2.54% | -2.60% | -2.63% | -2.37% | -1.21% | -0.40% | -1.70% | 0.06% | 1.35% | 2.32% | 2.67% | 1.39% | 0.10% | 1.71% | 3.19% | 4.48% | 4.60% | 2.67% |
EBITDA | 116.44 | 113.1 | 108.78 | 99.7 | 91.08 | 95.81 | 101.78 | 101.76 | 98.33 | 89.76 | 87.91 | 79.02 | 72.96 | 63.07 | 57.2 | 54.6 | 57.12 | 64.78 | 59.71 | 51.53 |
EBITDA Margin | 8.83% | 8.90% | 8.90% | 8.53% | 8.24% | 9.07% | 10.02% | 10.20% | 10.19% | 9.73% | 9.86% | 9.49% | 9.12% | 8.21% | 7.83% | 7.72% | 8.43% | 10.01% | 9.93% | 9.40% |
D&A For EBITDA | 83.55 | 79.85 | 75.01 | 70.11 | 65.6 | 62 | 57.72 | 54.19 | 49.47 | 44.38 | 41.22 | 37.92 | 36.17 | 35.12 | 34.23 | 33.72 | 33.24 | 32.82 | 32.38 | 31.81 |
EBIT | 32.89 | 33.25 | 33.77 | 29.59 | 25.48 | 33.81 | 44.07 | 47.56 | 48.86 | 45.38 | 46.69 | 41.1 | 36.8 | 27.94 | 22.97 | 20.88 | 23.88 | 31.96 | 27.33 | 19.71 |
EBIT Margin | 2.50% | 2.61% | 2.76% | 2.53% | 2.31% | 3.20% | 4.34% | 4.77% | 5.06% | 4.92% | 5.24% | 4.94% | 4.60% | 3.64% | 3.15% | 2.95% | 3.52% | 4.94% | 4.55% | 3.60% |
Effective Tax Rate | - | - | - | 41.23% | 34.83% | 33.95% | 32.47% | 36.35% | 32.76% | 27.76% | 29.63% | 27.82% | 33.91% | 40.65% | 45.14% | 63.54% | 53.37% | 51.86% | 669.46% | - |
Revenue as Reported | 1,318 | 1,271 | 1,223 | 1,169 | 1,105 | 1,056 | 1,016 | 997.25 | 964.86 | 922.59 | 891.55 | 832.66 | 800.3 | 768.46 | 730.16 | 707.04 | 677.63 | 647.14 | 601.19 | 547.97 |
Advertising Expenses | - | - | 16.5 | - | - | - | 8.5 | - | - | - | 7.2 | - | - | - | 6.4 | - | - | - | 4.8 | - |