First Watch Restaurant Group Financial Ratios
NASDAQ: FWRGConsumer DiscretionaryRestaurantsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
First Watch Restaurant Group ratio analysis
First Watch Restaurant Group earned a net margin of 1.6% in FY 2025, down from 1.9% a year earlier. Return on equity reached 3.1%, meaning First Watch Restaurant Group generated 0.03 dollars of profit for every dollar of shareholders' equity. Debt-to-equity stood at 0.45 versus 0.33 the year before, and the current ratio was 0.29.
At the end of FY 2025, FWRG traded at 51.3 times earnings; across the 4 fiscal years shown, its year-end P/E ranged from 49.0 to 129.2, with a median of 56.8. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
First Watch Restaurant Group financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 51.32 | 62.33 | 49.02 | 129.18 | — | — | — |
| Price / sales | 0.79 | 1.11 | 1.34 | 1.15 | 1.28 | — | — |
| Price / book | 1.55 | 1.90 | 2.13 | 1.61 | 1.53 | — | — |
| Operating margin | 2.3% | 3.8% | 4.6% | 2.3% | 3.7% | -13.8% | -8.6% |
| Net margin | 1.6% | 1.9% | 2.8% | 0.9% | -0.4% | -14.5% | -10.4% |
| Free cash flow margin | -2.5% | -1.2% | 1.3% | 0.1% | 4.6% | -13.2% | -8.6% |
| Return on equity (ROE) | 3.1% | 3.2% | 4.5% | 1.3% | -0.4% | -15.5% | -13.8% |
| Return on assets (ROA) | 1.1% | 1.2% | 2.0% | 0.6% | -0.2% | -4.9% | — |
| Debt / equity | 0.45 | 0.33 | 0.22 | 0.19 | 0.20 | 0.90 | — |
| Current ratio | 0.29 | 0.40 | 0.62 | 0.67 | 0.70 | 0.64 | — |
| Revenue growth | 20.3% | 13.9% | 22.1% | 21.5% | 75.6% | -21.5% | — |
| EPS growth | 3.3% | -26.8% | 272.7% | — | — | — | — |