First Watch Restaurant Group, Inc.

FWRG Consumer Cyclical Restaurants

First Watch Restaurant Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 20.3% from fiscal 2024.

Revenue
+10.7%
EPS
+55.2%
Free cash flow
+2.94%
Total debt
+10.3%

Quarter to September 2026, against a year earlier

13.04 0.46 −3.41%
Market cap
$809.9M
P/E
39.8×
Fwd P/E
138×
Dividend yield
—
F-score
4/9
Altman Z
1.14
Beneish M
−2.79
Dividend safety
n/a

An Income Statement, also known as a Profit and Loss Statement, summarizes a company's revenues, expenses, and profits over a specific period. It highlights how revenue is transformed into net income, showcasing operational efficiency. Key components include total revenue, cost of goods sold (COGS), gross profit, operating expenses, and net profit. Businesses use the Income Statement to assess financial performance, make strategic decisions, and ensure profitability. Investors and stakeholders analyze it to gauge the company’s financial health and future growth potential.

Sep '26 Jun '26 Mar '26 Dec '25 Older periods
Revenue
349.86 354.67 330.96 316.35

+8 more quarters

Revenue Growth
10.71% 15.20% 17.26% 20.15%
Gross Profit
73.94 72.45 66.73 64.89
Operating Income
11.05 8.13 1.00 9.04
EBT
6.48 3.37 (3.43) 4.42
Income after Tax
4.79 2.34 (2.68) 15.16
Net Income Common
4.79 2.34 (2.68) 15.16
EPS (Diluted)
0.08 0.04 (0.04) 0.24
Shares (Diluted, Weighted)
62.55 62.30 61.24 62.84
Gross Margin
21.13% 20.43% 20.16% 20.51%
EBIT Margin
3.16% 2.29% 0.30% 2.86%
Net Profit Margin
1.37% 0.66% (0.81%) 4.79%
EBITDA
33.92 30.14 22.57 29.86
EBIT
11.05 8.13 1.00 9.04

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In millions of $ except per-share values · columns are period end dates · fundamentals updated 5 Nov 2026