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FWRG

First Watch Restaurant Group, Inc.

FWRG

NASDAQ·Consumer Cyclical·Restaurants·Mkt cap $822.3M

$13.09

-1.87%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$9.97 - $19.53

P/E

47.19

Fwd P/E

38.94

Beta

1.06

Div Yield

0.00%

Avg Vol

1.4M

Shares Out

61.1M

Mkt Cap

$822.3M

Price action

Price chart

Down 24.0% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

Bull Case

5 reasons

  • Strong brand recognition in breakfast and brunch daypart
  • Established multi-state footprint with 435+ locations
  • Dual revenue model combining company-owned and franchise operations
  • Made-to-order fresh food concept with customer loyalty
  • Experienced management team with 40+ year operating history

Bear Case

2 risks

  • Average volatility.
  • Significant premium - growth priced in

Growth

Moderate growth ahead

Expansion of company-owned restaurant locations

Value

Significant premium - growth priced in

Momentum

Hot

+24.0% over 3m

Quality

Thin

Strong fundamentals

Dividend

None

No dividend

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: May 4, 2026

Q2 26 RECAP

MAY 5, 2026

Reported EPS of -$0.04 vs -$0.02 consensus (-100.0% surprise). Revenue of $331.0M vs $329.3M expected (+0.5%).

EPS miss
Rev beat +0.5%

EPS surprise · last 4Q

0 of 1 beats

Q2 26

-100.0%

Next: May 4, 2026

Revenue trend · last 8Q

+8%

+16%

+19%

+26%

+20%

+17%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$258.6M

$251.6M

$263.3M

$282.2M

$307.9M

$316.0M

$316.4M

$331.0M

Margins · last 8Q

Gross

Operating

Profit

-0.8%

Wall Street consensus

7 analysts · 100% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

7

100%

Hold

0%

Sell

0%

Median Price Target

$14.00

+7.0% vs $13.09

Low $14.00
Median $14.00
High $14.00

Latest: Stephens · May 6, 2026

1 analyst covering

vs Industry

How FWRG stacks vs Restaurants

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.