YOLFTbeta
First Watch Restaurant Group Inc

First Watch Restaurant Group Inc

FWRG · NASDAQ · Consumer Cyclical / Restaurants

13.18USD+0.24 (+1.85%)

Price History

Full chart

Market Stats

Previous Close12.94
Open12.93
Day Range12.64 – 13.23
52-Week Range9.88 – 18.82
Volume1.12M
Market Cap630.70M
P/E (TTM)36.50
Forward P/E63.69
EPS0.28
Dividend Yield0.00%
Beta1.03
50-Day Avg12.05
200-Day Avg13.06

About

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.

Company Details

  • SectorConsumer Cyclical
  • IndustryRestaurants
  • CEOMr. Christopher A. Tomasso
  • Employees18.00K
  • Headquarters8725 Pendery Place, Bradenton, FL, United States, 34201, USA
  • Websitehttps://www.firstwatch.com

Leadership

  • Mr. Christopher A. TomassoCEO, President & Director · b. 1971
  • Mr. Jay Anthony WolszczakChief Legal Officer, General Counsel & Secretary · b. 1969
  • Ms. Laura Anne SorensenChief People Officer · b. 1973
  • Mr. Eric Richard HartmanExecutive VP & Chief Development Officer · b. 1973
  • Ms. Ashlee WeisserCFO & Principal Accounting Officer · b. 1983
  • Mr. Robert ContiChief Information Officer · b. 1970
  • Mr. Steven Louis Marotta C.F.A.Vice President of Investor Relations
  • Mr. Shane SchaiblySenior Vice President of Culinary Strategy of First Watch Restaurants Inc · b. 1983
  • Ms. Lilah RippettSenior Vice President of Supply Chain of First Watch Restaurants, Inc · b. 1959
  • Mr. Matt EisenacherChief Brand Officer · b. 1980

Financials

Income Statement

Currency: USD2018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue349.77M436.37M342.39M601.19M730.16M891.55M1.02B1.22B
Growth (%)-+24.76%-21.54%+75.59%+21.45%+22.10%+13.95%+20.34%
Cost of Revenue278.40M348.96M312.51M476.96M590.63M701.43M223.10M1.06B
Gross Profit71.36M87.41M29.88M124.23M139.53M190.12M792.81M159.44M
Gross Margin20.40%20.03%8.73%20.66%19.11%21.32%78.04%13.04%
Operating Expense68.13M124.97M77.10M101.99M122.62M148.85M753.91M125.67M
Operating Income3.23M-37.56M-47.22M22.24M16.91M41.27M38.91M33.77M
Operating Margin0.92%-8.61%-13.79%3.70%2.32%4.63%3.83%2.76%
EBITDA33.83M-9.78M-16.01M52.85M52.05M85.36M98.38M103.84M
EBITDA Margin9.67%-2.24%-4.68%8.79%7.13%9.57%9.68%8.49%
Net Income-12.30M-45.44M-49.68M-2.11M6.91M25.39M18.93M19.43M
Net Income Margin-3.52%-10.41%-14.51%-0.35%0.95%2.85%1.86%1.59%
Interest Expense020.08M22.82M20.10M5.23M8.06M12.64M16.70M
Interest Expense % of Total Revenue0.00%4.60%6.66%3.34%0.72%0.90%1.24%1.37%

Balance Sheet

Currency: USD2018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets664.51M982.08M1.01B1.05B1.10B1.27B1.51B1.74B
Total Liabilities289.84M652.28M686.65M542.49M581.31M705.76M918.97M1.12B
Total Equity374.42M329.80M320.87M504.43M523.13M561.28M595.39M626.28M
Cash16.28M11.12M38.85M51.86M49.67M49.63M33.31M21.25M
Total Debt195.04M576.44M637.90M473.97M507.35M606.97M809.55M1.01B
Net Debt178.76M565.32M599.06M422.11M457.68M557.33M776.24M987.42M

Cash Flow

Currency: USD2018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow30.77M21.46M-18.36M62.97M62.94M95.34M115.67M125.91M
Investing Cash Flow-51.90M-82.39M-26.97M-35.68M-63.11M-123.37M-206.65M-213.76M
Financing Cash Flow30.28M55.76M73.31M-14.27M-2.02M28.07M74.33M75.79M
Capital Expenditure37.73M59.17M26.97M35.68M63.33M84.69M127.95M156.91M
Free Cash Flow-6.95M-37.70M-45.34M27.29M-393.00K10.65M-12.28M-30.99M
FCF to OCF-22.60%-175.65%246.89%43.34%-0.62%11.17%-10.61%-24.62%

Earnings

Report DateMar 28, 2020Jun 28, 2020Sep 27, 2020Dec 27, 2020Mar 27, 2021Jun 27, 2021Sep 1, 2021Nov 8, 2021Mar 23, 2022May 10, 2022Aug 9, 2022Nov 7, 2022Mar 7, 2023May 2, 2023Aug 1, 2023Nov 1, 2023Mar 5, 2024May 7, 2024Aug 6, 2024Nov 7, 2024Mar 11, 2025May 6, 2025Aug 5, 2025Nov 4, 2025Mar 10, 2026May 5, 2026Aug 4, 2026Nov 3, 2026
EPS Estimate0.000.000.000.000.000.000.07-0.01-0.070.050.040.030.020.090.080.040.040.100.120.050.000.030.060.070.08-0.030.060.07
EPS Actual-4.13-4.13-2.40-2.400.210.210.080.03-0.040.090.090.00-0.010.170.160.100.040.140.180.050.010.010.050.060.26-0.020.04-
Surprise------14.57%400.00%42.86%80.00%125.00%-97.33%-150.00%88.89%100.00%150.00%0.00%40.00%50.00%0.00%203.03%-66.67%-16.67%-14.29%241.49%33.33%-33.33%-
Timing-------After-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-market-Pre-marketPre-marketPre-market-Pre-marketPre-marketPre-market

Key Statistics & Ratios

Market Cap630.70M
Enterprise Value1.69B
Trailing P/E36.50
Forward P/E63.69
Price / Sales0.48
Price / Book1.00
EPS0.28
Book Value10.28
Revenue (TTM)1.32B
Gross Profit (TTM)271.95M
EBITDA116.44M
Profit Margin1.35%
Operating Margin2.48%
Return on Equity2.88%
Return on Assets1.18%
Shares Outstanding61.71M
Shares Float60.76M
Beta1.03
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Analyst Ratings

Strong Buy
Based on 11 analystsTarget 19.27
  • Strong Buy
    8
  • Buy
    2
  • Hold
    1

Ownership Breakdown

Institutions
110.48%
Insiders
1.85%
Retail / Other
0.00%

Top Institutional Holders

  • BlackRock Inc
    4.07M6.60%
  • Bank of New York Mellon Corp
    3.96M6.41%
  • Neuberger Berman Group LLC
    3.57M5.79%
  • Manufacturers Life Insurance Co
    3.36M5.44%
  • Dimensional Fund Advisors, Inc.
    2.60M4.21%
  • Vanguard Capital Management, LLC
    2.40M3.89%
  • Millennium Management LLC
    2.19M3.55%
  • FMR Inc
    2.00M3.23%
  • GW&K Investment Management, LLC
    1.96M3.17%
  • Stephens Inv Mgmt Group LLC
    1.95M3.17%
  • Hodges Capital Management Inc
    1.59M2.58%
  • Emerald Advisers, LLC
    1.53M2.47%
  • BWCP, LP
    1.50M2.43%
  • Penn Capital Management Company LLC
    1.47M2.39%
  • Morgan Stanley - Brokerage Accounts
    1.46M2.37%
  • Riverbridge Partners LLC
    1.35M2.19%

Top Fund Holders

  • JHancock Small Cap Core NAV
    2.93M4.75%
  • Neuberger Long Short Instl
    1.92M3.11%
  • Vanguard MStar Total Stk Mkt Idx Invest
    1.86M3.01%
  • iShares Russell 2000 ETF
    1.57M2.55%